Savings Bank Life ECAccumulate MYGA
Current Fixed Rates
| 5.30% | $100,000 | — | $1,000,000 |
| 5.15% | $25,000 | — | $99,999 |
The ECAccumulate is a single premium deferred fixed annuity with a five-year rate lock and a Market Value Adjustment provision. After 5 years, consumers can withdraw, transfer, or renew for a new term.
If no action is taken at maturity, the account does not automatically renew. Instead, a new yearly rate is declared and the annuity funds remain entirely liquid. Qualified and non-qualified funds are accepted. There are no surrender penalties at death.
Two rate bands are available. The higher rate is for deposits above $100K – amounts between $25K-$99.9K receive a slightly lower rate.
More Annuity options from: SBLI Life
Notable Features
At no extra cost, both a terminal illness and nursing home rider are included. This allows consumers to withdraw all (or part) of their funds penalty free when this feature is triggered.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
5 Years
Free Withdrawals Yr1 / Yr2+
5% / 5%
Surrender Schedule
9%, 8%, 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 start from an A rated carrier. Free 5% withdrawals are available in all years. At maturity, the account does not renew for a new term. It remains tax-deferred and completely liquid.
Other Popular Products
SBLI is also known for simple term life policies with quick and easy underwriting provisions. Their whole life insurance plans are competitively priced nationwide as well.
About SBLI Life
SBLI Life
AM Best Rating: A Excellent (3rd of 13 ratings)
https://www.sbli.com/
About Saving Bank Life Insurance of MA
Founded in 1907, SBLI specializes in providing simple insurance solutions for their customers. They are licensed in 49 states and have held their A (Excellent) rating for over 45 years.
This mutually-held company boasts over $190 billion of in-force insurance and nearly $4 billion in assets under management. They offer whole and term life as well as multi-year guaranteed fixed annuities.