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.
Advanced Choice 4-year product is not available in Idaho or 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% |