Product Overview
Sage Accumulator FIA provides growth opportunities through interest crediting strategies linked to the performance of the S&P 500® Index, three iShares® ETFs from BlackRock, or a fixed Declared Rate. These strategies allow you to diversify between a guaranteed rate, options linked to indexes featuring domestic or international exposure, or those with positive environmental, social and governance characteristics.
Sage Accumulator FIA is available with a 5-, 7- or 10-year surrender charge schedule. Review the Client Allocation Guide for more details on the available interest crediting strategies and how we determine annual credited interest amounts.
Features & Benefits
- Your contract has the opportunity to earn credited interest every year and your contract value compounds on a tax-deferred basis.
- If you develop a terminal illness after your first contract year, or are placed in a nursing home or confined care facility after your contract effective date, you can take a penalty-free withdrawal of up to 100% of your accumulation value.1,2
- Beginning in your second contract year, you may withdraw an amount equal to 10% of the last contract anniversary’s accumulation value penalty-free.1
- There is a minimum withdrawal requirement of $500.
- If your contract is qualified and you’re subject to RMDs due to your age, they’re available penalty-free beginning in contract year one.3
- In the event of your death, your beneficiary(ies) will receive the full account value.
- Beneficiaries can choose a lump sum payment or any of the available annuitization options.
- Surrender charges apply to all withdrawals above your penalty-free withdrawal limit.3 Each guarantee period has its own surrender charge schedule.
- Surrender charges are a percentage of your accumulation value and decrease over time. If your annuity renews for a new guarantee period, the surrender charge schedule resets and starts over.
| Guarantee Period | |||||
|---|---|---|---|---|---|
| Contract Year | 5-Year | 7-Year | 10-Year | ||
| 1st | 9% | 9% | 9% | ||
| 2nd | 8% | 8% | 9% | ||
| 3rd | 7% | 7% | 8% | ||
| 4th | 6% | 6% | 7% | ||
| 5th | 5% | 5% | 6% | ||
| 6th | - | 4% | 5% | ||
| 7th | - | 3% | 4% | ||
| 8th | - | - | 3% | ||
| 9th | - | - | 2% | ||
| 10th | - | - | 1% | ||
- Surrender charges apply to all withdrawals above your penalty-free withdrawal limit.3 Each guarantee period has its own surrender charge schedule.
- Surrender charges are a percentage of your accumulation value and decrease over time. If your annuity renews for a new guarantee period, the surrender charge schedule resets and starts over.
| Guarantee Period | |||||
|---|---|---|---|---|---|
| Contract Year | 5-Year | 7-Year | 10-Year | ||
| 1st | 8.40% | 8.40% | 8.40% | ||
| 2nd | 8.35% | 8.35% | 8.35% | ||
| 3rd | 7.35% | 7.35% | 7.35% | ||
| 4th | 6.30% | 6.30% | 6.30% | ||
| 5th | 5.30% | 5.30% | 5.30% | ||
| 6th | - | 4.25% | 4.25% | ||
| 7th | - | 3.20% | 3.20% | ||
| 8th | - | - | 2.15% | ||
| 9th | - | - | 1.05% | ||
| 10th | - | - | 0% | ||
Footnotes
1Withdrawals made prior to age 59½ are subject to ordinary income taxation and a 10.00% tax penalty. Sagicor does not provide tax or estate planning advice. You should consult with your tax advisor(s).
2Not long-term care insurance. Please see the contract to review qualification specifications.
3In the first contract year, the owner may elect to withdraw penalty free an amount up to the contract’s full required minimum distribution (RMD) amount Sagicor has calculated for the applicable calendar year; and in each contract year after the first, the RMD amount that is available for the owner to elect to withdraw penalty free in that contract year is equal to the contract’s RMD amount that Sagicor has calculated for the applicable calendar year, less any amount that in that contract year the owner has already withdrawn penalty free. In each contract year, the total RMD amount that the owner has elected to withdraw penalty free during that contract year will reduce, by an equal amount, the amount that is available to the owner during that contract year to otherwise withdraw penalty free.
If you have questions about the contract and riders, please contact your licensed insurance or financial professional.
Products issued by Sagicor Life Insurance Company. Home Office: Scottsdale, AZ. Products not available in all states, and state variations may apply. Sagicor does not provide tax or estate planning advice. You should consult with your tax advisor(s). Annuities and life insurance products have limitations and restrictions, including surrender charges. Guarantees are based on the claims-paying ability of Sagicor. Sagicor issues other fixed annuities and life insurance products with similar features, benefits, limitations and restrictions. Contact Sagicor for more information. Contract Forms: ICC173007, 3007, 3007CA, and 3007FL.24. Rider Form: 6080.
Not FDIC insured. Not insured by any federal agency. Not a deposit or other obligation of the bank. Not bank guaranteed.
