SILAC Secure Savings Elite 5
Current Fixed Rate
The SILAC Secure Savings Elite 5 is a single premium, fixed annuity with a five-year rate lock. After five years, owners have a 30-day window to withdraw, transfer, or reinvest their entire account balance. If no action is taken, a new 5 year term will begin.
Qualified and non-qualified funds are accepted. This policy does not include a surrender-free death benefit. Spousal continuances are allowed.
More Annuity options from: SILAC Life
Notable Features
Accumulated interest and 5% penalty free withdrawals are both available. Each will reduce the annual interest rate by .06% respectively.
Additional Details
Product Type
MYGA
Term
5 Years
Free Withdrawals Yr1 / Yr2+
0% / 0%
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 0%
Maximum Age
85
Minimum Investment
$10,000
Maximum Investment
$500,000 without prior approval
What We Like About This Annuity
Low minimums to start. Penalty-free withdrawal features can be added if desired.
Other Popular Products
SILAC may be best known for their fixed-indexed annuities. Popular bonus annuities include their Vega, Denali, and Teton products.
About SILAC Life
SILAC Life
AM Best Rating: B Fair (7th of 13 ratings)
https://www.silacins.com/
About SILAC Insurance Company
Founded in 1935 in Salt Lake City, UT, SILAC has been in business for over 90 years. They began offering annuities in 2018 and specialize in MYGAs and fixed-indexed annuities. They are licensed in 48 states and are currently B rated with AM Best.
They strive to be an innovative company delivering great service and competitive products for consumers and the agents who offer their policies.