S.USA Life Select Choice 3
Current Fixed Rates
| 4.55% | $100,000 | — | $1,000,000 |
| 4.30% | $5,000 | — | $99,999 |
The S.USA Select Choice 3 is a single premium, fixed annuity with a three-year rate guarantee. After three years, owners have a 30-day window to withdraw, transfer, or reinvest their entire account balance. If no action is taken, the policy will renew for a 3-year term with a new declared interest rate.
There are two interest rate bands offered. The highest rate is for deposits above $100K while lower rates apply to amounts between $5K -$99.9K.
There are no surrender charges upon passing. Qualified and non-qualified funds are accepted and the policy is RMD-friendly. A sister version of this annuity (Select Choice Plus 3) is available with slightly lower rates and 10% free withdrawals beginning in year two.
More Annuity options from: S.USA Life
Notable Features
At cost, consumers can add a 10% free withdrawal rider to their contract. Additionally, a Return of Premium feature can be added where owners will receive their full investment, less withdrawals & taxes, upon early surrender.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
3 Years
Free Withdrawals Yr1 / Yr2+
0% / 0%
Surrender Schedule
7%, 6%, 5%, 0%
Maximum Age
85
Minimum Investment
$100,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
Low minimums to get started and RMD friendly for IRA accounts. Rates are competitive nationwide on a short, 3-year term. No surrender penalties at death.
Other Popular Products
S.USA Life through their parent organization (Prosperity Life) and subsidiaries also offer competitive indexed annuities and universal life insurance policies.
About S.USA Life
S.USA Life
AM Best Rating: A- Excellent (4th of 13 ratings)
https://www.prosperitylife.com/
About S.USA Life
Founded in 1939, S.USA Life is a subsidiary of Prosperity Life Group. Their parent company has an A- rating with over 100 years of insurance experience and boasts $16.1 billion dollars under management. Other subsidiaries include SBLI USA Life Insurance Company and Shenandoah Life Ins. Co.
They describe themselves as an insurance, reinsurance, and asset management company. These entities together focus on growth, integrity, results, and inclusion. Annuities and life insurance policies are their primary product offerings.