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Security Benefit Foundations 7
Product ID: 197

Vendor:
Security Benefit
Type:
Equity Indexed Annuity 


0%
AM Best:
A-
S&P:
A-
7 Years / 9.00%
Yes



Enrollment and Questions

Use the following contact information to enroll or ask questions.

Website:
Visit Website
Phone:
(800) 888-2461
 E-mail:
Send Email
Mailing Information  Address:
Security Benefit
P.O. Box 55976
Boston, MA 02205-5976
  In-person:
Questions about enrollment?
View the Contact Information tab on the Vendor Details page for a list of office locations.


Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider: • The Rider is available with Security Benefit Life Insurance Company’s Foundations Annuity. • An optional rider that can be added to your client’s Foundations Annuity only at the time of application.

Select the topics below to expand and view additional product details


Riders are amendments to the annuity contract that typically add to your costs. make sure you inquire about any additional costs. The following riders exist for this product:

GLWB:
Your clients will be able to retire confidently with predictable, guaranteed lifetime income payments through the optional Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider. The Rider is available with Security Benefit Life Insurance Company’s Foundations Annuity. The GLWB is an optional rider that can be added to your client’s Foundations Annuity only at the time of application, and only with the 7-year option. The GLWB is not available on the 5-year option. The optional GLWB Rider provides: • An annual 8.5% Roll-up (simple calculation) based on total premiums for the first 15 years of the contract, until age 85, or until your client begins taking Lifetime Annual Income, whichever comes first. • Guaranteed Lifetime Annual Income – even if the Account Value falls to zero (assu
See brochure for details.
See brochure for details.
See brochure for details.
See brochure for details.
See brochure for details.
See brochure for details.
Investment Year Bonus Rate
1 1%

Point-to-Point
Averaging
Fixed Account
S & P 500
For the Annual Point to Point Index Account, we compute the interest rate each contract anniversary based upon the change in the S&P 500 index not including dividends over the contract year. For each contract year, the closing index value of the S&P 500 Index on the first day of the contract year is the beginning value and the closing index value of the S&P 500 Index on the following contract anniversary is the ending value. Accordingly, the ending value for one contract year will be the beginning value for the next contract year. If the S&P 500 Index value is not available for any day, we use the closing index value on the previous available day. We compute the difference in the beginning and ending values for the contract year by subtracting the beginning values from the ending values.
0%
For the Annual Average Index Account, we compute the interest rate based upon the average of the monthly ending values of the S&P 500 index not including dividends over the contract year. For each month of the contract year, the closing index value on the same day of the month (if that day does not occur for the month, then the last day of the month is used) as the contract anniversary is the ending value used for the computation. If the S&P 500 index value is not available for any day, we use

Annual Point to Point Index Account Cap-3.50% Monthly Sum Index Account Cap-1.85% Annual Average Index Account Cap-3.75% Fixed Account Current Interest Rate-1.85%
100.00%
100.00%


All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.

Surrender Charges

Surrender Period* Surrender Percentage
1 9.00%
2 8.00%
3 7.00%
4 6.00%
5 5.00%
6 4.00%
7 3.00%

*Expressed in contract years


Surrender Penalty Charge assessed on a "rolling" basis: Non-rolling
Exceptions to the Surrender Charge:
Death:
Yes

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