Wichita National Life Security 3
Current Fixed Rate
5.85%
The Wichita National Life Security 3 is a single premium, fixed annuity with a three-year rate guarantee. After three years, owners can withdraw, transfer, or reinvest their entire account balance. If no action is taken, then a new 3-year term with a new surrender schedule will begin.
This policy is designed primarily for tax-deferred growth. It offers a higher interest rate, but does not include liquidity features like free withdrawals or a surrender-free death benefit. A 10% Free Withdrawal Rider and an Enhanced Death Benefit Rider are both available. Adding either rider will reduce the interest rate by 0.15% annually.
A spousal continuance option is allowed and can avoid surrender penalties at death. This policy is available in AL, AR, AZ, DC, FL, GA, IL, IN, LA, MA, MD, MS, NV, OK, SC, TN, TX, UT, & WY.
More Annuity options from: Wichita National Life
Notable Features
This annuity does not automatically include free withdrawals or a waiver of surrender charges at passing. Adding those features reduces the yearly rate of return by 0.15% for each, respectively. Spousal continuations are allowed and can help avoid surrender penalties at passing if the Death Benefit feature is not added.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
3 Years
Free Withdrawals Yr1 / Yr2+
0% / 0%
Surrender Schedule
8%, 8%, 7%, 0%
Maximum Age
89
Minimum Investment
$10,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
Short 3-year term with a competitive rate of return nationally. Those looking for the highest compounded rate of return will find it with this product in certain states. This policy is issued up to age 89 and allows owners to tailor it by adding two liquidity options.
Other Popular Products
Wichita Life is primarily known for their guaranteed fixed annuity accounts, but they do offer individual life, credit products and various ancillary insurance coverage.
About Wichita National Life
Wichita National Life
AM Best Rating: B+ Good (6th of 13 ratings)
https://www.wnlic.com/
About Wichita National Life Insurance
This niche insurance company with over 60 years of experience is located in Lawton, Oklahoma. More recently, they began offering multi-year guaranteed fixed annuities under their Security series of MYGAs. They have expanded their annuity offerings to several new states recently.
They are guided by industry experts and look to offer solutions for a worry-free retirement. They aim to be a stable company evolving to meet the modern needs of consumers with innovative life, annuity, credit, and ancillary insurance products.