Advanced Choice Annuity State Variations

State approvals as of May 2, 2014

Product features vary by state, including but not limited to the surrender charge rates, surrender charge period, and applicability of the Market Value Adjustment.

View these tables to determine which Advanced Choice features are available in each state. Surrender charge schedules are also listed below.

Not available for sale in New York.

States Nursing Home and
Terminal Illness Waivers
Market Value Adjustment
(MVA)
Free Look Period

Items to Note

AK, AL, AR, AZ, CO, CT, DC, GA, HI, IA, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NH, NM, NV, OH, OK, OR, RI, SC, SD, TN, UT, VA, VT, WA, WI, WV, WY Yes Yes 15 Days N/A
CA No No Separate senior versions w/30-day free look N/A
DE Yes Yes 15 Days N/A
FL Yes Yes 21 Days Total Surrender Charge length 10 years max; 1 year renewal account.
MA Terminal Illness Waiver Only  Yes 15 Days Unisex
NJ Nursing Home Only  Yes 15 Days N/A
ND Yes Yes 20 Days N/A
PA Yes, after 1 year and MVA not waived. Yes 15 Days N/A
TX Yes, after 1 year and MVA not waived. Yes 15 Days N/A
NY: Not Filed. SBL is not licensed in and does not conduct business in NY.

 

Surrender Charge Schedule for all States

Interest Rate Guarantee Period During Initial and Subsequent Guarantee Period
Year 1 2 3 4 5 6 7
3 Year 9% 8% 7% -- -- -- --
5 Year 9% 8% 7% 6% 5% -- --
7 Year 9% 8% 7% 6% 5% 4% 3%