Upstream Secure Legacy Fixed Annuity Product Overview
Upstream Life Annuity Rates
Secure Legacy 3-Year
|
5.65% |
Year 1 |
Minimum $10,000 Maximum $1,000,000* Compound Interest*** |
Secure Legacy 5-Year
|
5.65% |
Year 1 |
Minimum $10,000 Maximum $1,000,000* Compound Interest*** |
Secure Legacy 7-Year
|
5.25% |
Year 1 |
Minimum $10,000 Maximum $1,000,000* Compound Interest*** |
Secure Legacy 10-Year
|
5.10% |
Year 1 |
Minimum $10,000 Maximum $1,000,000* Compound Interest*** |
Secure Legacy 15-Year
|
3.50% |
Year 1 |
Minimum $10,000 Maximum $1,000,000* Compound Interest*** |
* Minimum single premium $10,000 and Maximum single premium $1,000,000 without Home Office approval.
** Upstream Life Secure Legacy MYGA Series interest is calculated on a compound interest 365-day year basis, meaning it compounds interest annually, and it computes and accrues daily. The effective compound level rate of the Secure Legacy MYGA Series are: 3-Year 5.65% effective; 5-Year 5.65% effective; 7-Year 5.25% effective; 10-Year 5.10% effective; 15-Year 3.50% effective.
Policies offered by Upstream Life Insurance Company.
- After 30 days
- Accumulated interest
- Minimum withdrawal $100
- Lump-sum or equal monthly or quarterly payments
10% Free Withdrawal Rider
- Beginning second contract year
- Up to 10% of the contract value
- Costs 15-basis point reduction in crediting interest rate
- Minimum withdrawal $100
- Lump-sum or equal monthly or quarterly payments
For issue ages, 55+, the 15-year and 20-Year Guarantee Period will have surrender charges reduced to 0% in years 11+.
- After 30 days
- Minimum withdrawal $100
- Current year’s RMD should be taken prior to transfer/rollover
Market Value Adjustment
Selling an investment security before its due date can result in an unanticipated gain or loss in value. That gain or loss affects the value of the annuity. Accordingly, the market value adjustment (MVA) is a factor by which the contract value and/or partial withdrawal amounts are adjusted during any surrender charge period to reflect such gain or loss.
The MVA is based on the constant maturity treasury (CMT) rate appropriate for the guarantee period.
| PREMIUM PAYMENTS | |
|---|---|
| Type | Single Premium |
| Maximum | $1,000,000 Higher Limits may be available with Home Office Approval |
| Minimum | $10,000 |
| Types of funds |
|
| AGE RESTRICTIONS | |
| Owner | 0 – 90 |
| Annuitant | 0 – 90 |
During the last thirty (30) days before the end of any Interest Guarantee Period, the Owner may choose one of the following options, to take effect on Your next Contract Anniversary:
- Continue Your Contract for a Renewal Guarantee Period equivalent to the Initial Guarantee Period as shown in Contract Specifications, at an Interest Rate that may be different from the Interest Rate in the preceding Interest Guarantee Period; or
- Make a Partial Withdrawal, with no Surrender Charge or Market Value Adjustment, and apply the remaining Contract Value to continue Your Contract for a Renewal Guarantee Period equivalent to the Initial Guarantee Period as shown in Contract Specifications, at an Interest Rate that may be different from the Interest Rate in the preceding Interest Guarantee Period
- Continue Your Contract for a Renewal Guarantee Period, at an Interest Rate that may be different from the Interest Rate in the preceding Interest Guarantee Period; or make a Partial Withdrawal, with no Surrender Charge or Market Value Adjustment, and apply the remaining Contract Value to continue Your Contract for a Renewal Guarantee Period of Years, at an Interest Rate that may be different from the Interest Rate in the preceding Interest Guarantee Period.
Make a Full Surrender of the Contract with no Surrender Charge or Market Value Adjustment.
We will mail notice at least 15 days but not more than 45 days prior to the beginning of the application period where the owner has the ability to apply for the contract value on an unadjusted basis (no MVA).
Unless You select one of the options shown above, Your Contract will continue automatically for another Renewal Guarantee Period of 5 Years at a new Renewal Guaranteed Interest Rate. The new Interest Guarantee Period will not extend beyond the Maturity Date. If Your Contract is continued for another Renewal Guarantee Period, the Surrender Charges and Surrender Charge Period is shown in Contract Specifications apply to the new Renewal Guarantee Period.
Available in: AZ, AR, CO, DE, DC, ID, IL, IN, LA, MD, MN, MS, MT, NE, NM, ND, OH, SD, TN, TX, UT, WV, WY
The Upstream Life Secure Legacy MYGA is an industry-leading single premium fixed annuity, offering a multi-year guaranteed interest period. This annuity accrues compound interest in a tax-deferred manner and offers income and death friendly features and riders. (Required Death Benefit Rider 81+ | Costs 25 basis points)
PROS:
Upstream Life Secure Legacy Fixed Annuity offers the best 3 year fixed annuity rate.
The Secure Legacy Annuity comes with free withdrawals of interest and also allows for RMD withdrawals without any fees or penalties.
CONS:
The full account value is not available immediately upon death unless an optionalrider is attached at a cost of a 25 basis point reduction in interest rate. Your beneficiary would either hold the annuity until the end of the contract term or pay the applicable surrender penalty.
OPTIONAL RIDERS:
10% Free Withdrawal Rider
Beginning Second Contract Year
Costs 15-basis points
Death Benefit Rider
Required for Issue Ages 81+
Costs 25-basis points
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