Built specifically for the 403(b) market, the Total Interest Annuity can be funded with contributions up to $16,500 annually or with IRA contributions or rollovers. The initial guaranteed crediting rate, which Security Benefit expects to be highly competitive, will be reset after 12 months and every year thereafter.
SBL hopes to incentivize clients for early saving through an attractive initial guaranteed crediting rate, boosted by a 2% bonus on all contributions or transfers in the first contract year.
According to the company, the Total Interest Annuity may be well suited for participants in the education arena who are conservative, have assets in retirement vehicles with significant market volatility, or are near retirement.
Financial advisers can contact Security Benefit or a Security Benefit Regional Vice President for all related product materials, including a copy of the rates.