Foundations Annuity State Variations

The Foundations Annuity features vary by state, including but not limited to the Surrender Charge rates, Surrender Charge period, Bonus, and applicability of the Market Value Adjustment.

Product not available for sale in New York.

States Product Bonus applied to all first contract year premiums Free Withdrawals
(no SC or MVA)

Nursing Home / Terminal Illness Waiver

Market Value Adjustment
(MVA)

Free Look Period

Items to Note

AL, AR, AZ, AR, CO, DE, DC, GA, HI, IA, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NM, NV, OH, OK, SD, TN, VA, WI, WV, WY 1% (vested immediately) After year 1 up to 10% and each year thereafter Yes Yes 15 days N/A
AK, MN, NH, NJ, OR, PA, SC, TX, UT, WA 1% (vested immediately) After year 1 up to 10% and each year thereafter Yes Yes 15 days N/A
ID, ND, RI 1% (vested immediately) After year 1 up to 10% and each year thereafter Yes Yes 20 days N/A
CA 1% (vested immediately) After year 1 up to 10% and each year thereafter No No 15 days; 30 days for seniors 60+ N/A
CT 1% (vested immediately) After year 1 up to 10% and each year thereafter Yes (waives Surrender Charge only) Yes 15 days N/A
FL 1% (vested immediately) After year 1 up to 10% and each year thereafter Yes Yes 15 days; 21 days for seniors 65+ N/A
MA 1% (vested immediately) After year 1 up to 10% and each year thereafter Terminal Illness Waiver Only Yes 15 days N/A
NJ 1% (vested immediately) After year 1 up to 10% and each year thereafter Nursing Home Waiver Only 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, except CT and DE

Interest Rate Guarantee Period During Initial and Subsequent Guarantee Period
Year                
5 Year 9% 8% 7% 6% 5% 0%    
7 Year 9% 8% 7% 6% 5% 4% 3% 0%

 

Surrender Charge Schedule for CT and DE only

Interest Rate Guarantee Period During Initial and Subsequent Guarantee Period
Year                
5 Year 8.25% 7.25% 6.50% 5.50% 4.50% 0%    
7 Year 8.25% 7.25% 6.50% 5.50% 4.50% 3.50% 2.50% 0%