SILAC Insurance Ratings & Review

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Company Profile

 Sterling Financial Ins Group, Inc
 Utah
 62952
 1935
 
299 South Main Street #1100
Salt Lake City, UT 84111
Phone Number: (800) 352-5150

SILAC Insurance Company Review

SILAC Insurance Company, formerly known as Equitable Life & Casualty Insurance Company, is one of the oldest life insurance providers in the state of Utah. The company is headquartered in Salt Lake City, and it was founded back in 1935. The company has historically offered life insurance, Medicare supplement insurance and health insurance, but it also has fixed and fixed indexed annuities for sale. SILAC is licensed to operate in 47 states and Washington, D.C.

Assets & Liabilitieses

 $1,636,173,672
 $1,514,885,767
 $121,287,905
 108.01%

SILAC Financial Ratings

A.M. Best : B+ (6th of 15 ratings)

SILAC Annuity Products

Teton Series Annuities in the Teton Series are single premium and fixed indexed annuities. Your options for growing your savings are one fixed interest rate and a handful of index crediting strategies linked to the S&P 500 Index. You can choose one or more of the options and rebalance at the end of each crediting term. The indexed rates are limited at the top and bottom so your earnings are capped and your loss, at most, can be that you didn’t earn anything during the term.

If you die before the contract matures and you haven’t annuitized, your beneficiary will receive your account’s full value. If your beneficiary is your spouse, they can choose to continue the policy. At no additional cost, you can add a nursing home benefit, terminal illness benefit or home health benefit. These benefits take effect after the first year, and allow you to withdraw up to 100% of your account if you enter a qualified care facility and meet eligibility requirement, are diagnosed with a terminal illness and have less than 12 months to live and you require home health care and meet requirements, respectively.

This annuity is available as a 7-, 10- or 14-year contract. The maximum issue ages are 90, 85 and 80, respectively. To buy a policy, you need at least $10,000, with extra payments being allowed for up to the first year.

Teton Series Bonus annuity is the same as Teton Series above but pays a 10% premium bonus for the 14 year contract and a 5% premium bonus for the 7 and 10 year versions of the annuity contract.

 

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Kiara Caudill

Kiara Caudill

I spent the first 10 years of my career as a clinical mental health therapist and I saw firsthand that finances play a large role in one’s happiness. A good financial plan is not only important to your financial health it’s also important to your mental health. I approach financial planning from a behavioral finance perspective using a goals-based approach. Kiara holds a B.A. Degree in Psychology from Goshen College and an M.A. in Clinical Mental Health Counseling from Valparaiso University.

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Annuities are distributed by My Annuity Store, Inc. Guarantees are subject to the claims-paying ability of the insurer. My Annuity Store, Inc. does not advise clients on the purchase of non-fixed annuity products. The information presented here is not of tax or legal nature and is not intended to be a recommendation to purchase a fixed annuity, fixed index annuity, variable annuity contract, registered index-linked annuity (RILA), immediate annuity (SPIA), longevity annuity, or Qualified Longevity Annuity Contract (QLAC). 

The contract features described may not be current and may not apply in the state in which you reside. Annuities are issued by Insurance companies and contracts are ‘state-specific. Insurance companies also change their products and information often and without notice. Annuities are subject to the terms and conditions of the specific contract issued by the insurer, are not FDIC or NCUA insured, are not bank guaranteed, may lose value, and are not a deposit. Please call (855) 583-1104 if you have any questions or concerns. 

The information presented here is not a representation regarding the suitability of any concept or product(s) for an individual and it does not provide tax, accounting, or legal advice. It is important to read the prospectus carefully and consider your objectives, risks, fees, and charges associated with the contract. You should always consult your own financial planning, tax, and legal counsel to determine if a fixed annuity, immediate annuity, longevity annuity, or Qualified Longevity Annuity Contract are suitable in your financial situation.

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