Security Benefit Strategic Growth 7 Annuity Review

The hypothetical historical performance provided herein showcases the annualized return of allocation strategies, representing the investment's annual growth rate considering compounding effects. Similar analyses can be found for each account in official fixed index annuity illustrations provided by insurance carriers.

What's not reflected:
The annualized return does not encompass rider charges, strategy fees, or applicable premium bonuses.

Notes on rates:
The information presented assumes the annuities' current caps, spreads, participation rates, and other related rates, without guarantee.

No guarantees:
These actual elements are subject to change over time, resulting in potentially higher or lower outcomes. Additionally, no single index consistently outperforms in every scenario. It is advisable to consult with a properly licensed and educated annuity professional before making any decisions....

Security Benefit doesn’t charge any fees or expenses for this annuity unless you opt for an income rider. 

When choosing the SBL Strategic Growth 7 Annuity, you’ll be able to choose from multiple index crediting options, including: 

Crediting methods use mathematical formulas to determine the indexed interest an annuity earns based on index changes over the 'crediting period.' For the Security Benefit Strategic Growth 7 Annuity, the available crediting strategies are:

Like many annuity providers, SBL imposes penalties on early withdrawals from annuity contracts, known as annuity surrender charges. These charges are a percentage of the withdrawal amount and gradually decrease to zero over the contract term, which is also the case with the Strategic Growth 7 Annuity.

The Strategic Growth 7 Annuity from Security Benefit has several interesting features one should consider when choosing this investment. The three essential characteristics are:

• Market Value Adjustment (MVA) is charged on withdrawals that exceed the Free Withdrawal amount, on full surrenders, or on the death benefit issued when a Joint Owner who is not the spouse of the Annuitant dies.
• MVA fees are only incurred by annuity beneficiaries who opt for early withdrawal; no MVA fees are charged if you wait until the contract's maturity date.
• MVA fees aren’t charged in California.

• The Rate Buy-Up feature can potentially increase the contract value allocated to each Index Account, which can lead to a higher interest credit rate through improved caps, participation rates, or reduced spreads. 
• If, by the end of the surrender charge period, the total costs associated with this feature surpass the accumulated index interest credits (including those from non-buy-up options), the excess will be refunded to the contract’s Fixed Account.
• This refund does not apply if there is an excess withdrawal, which is defined as any withdrawal exceeding the annual free withdrawal limit.

• SBL will secure the most favorable caps, spreads, and rates for the Interest Crediting options, selecting from those available either when the application is received or when the contract is issued. 
• The rate lock is contingent upon the paperwork being complete and submitted within a 60-day window.

Security Benefit Strategic Growth 7 Annuity is a great option for individuals who want to grow their retirement savings without exposing themselves to too much risk. The annuity offers multiple benefits and interesting features, including the Rate Buy-Up feature or Rate Lock, which can be particularly advantageous to the annuity beneficiaries. 

Not sure if the Security Benefit Strategic Growth 7 is the right annuity for you? Take our Annuity Quiz or schedule a meeting with one of our professional advisors.