AM Best Rating: A-
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Minimum & Maximum Investment:
$100,000 – $2,000,000
Rate Banding:
There are 2 different rate bands:
$10,000 – $99,999
$100,000 – $2,000,000
Age Limits:
0-85
Free Look Period:
30 days
Rate Lock Period:
60 days
Riders & Features Available:
Terminal Illness Waiver
Confinement Waiver
Death Benefit
10% Free Withdrawals Waiver
The Knighthead Staysail Annuity pays simple interest. This means your interest will not compound and earn interest on the interest you earn. The Knighthead Staysail Annuity does not offer any free withdrawal options. You can elect to have 10% free withdrawals annually for a reduction of .20%.
The Knighthead Staysail Annuity may be a good option if you plan to withdraw your interest as compounding does not come into effect in that sceario.
The Knighthead Staysail Annuity offers flexibility with three flexible terms, a 3, 5, and 7 year contract.
Staysail is a multi-year guaranteed annuity which is issued by Merit Life Insurance Co. and is not available in all states. Staysail Policy Form: ICC23-FA100-0223 (subject to state variations). Policy form numbers and provisions may vary. Guarantees are backed by the claims-paying ability of the issuing company.
Knighthead Life is the brand name of Knighthead US Holdings, Inc. and its subsidiaries, Merit Life Insurance Co. (“Merit Life”) and Knighthead American Life Insurance Company (“KALIC”).
You should consider the features of Staysail carefully before purchasing. Taxes are due upon withdrawal and excess withdrawals may be subject to a surrender charge and market value adjustments. The IRS may impose a 10% penalty for withdrawals prior to age 59 ½.
