What is an annuity?
SBLI offers two types of annuities.
Deferred annuities accumulate savings and interest that you can withdraw when you need to, and also generate guaranteed retirement income at a time of your choosing.
Immediate annuities convert your premium deposit into a stream of income for life or for a fixed period of time.
Benefits of SBLI annuities
- Tax-deferred growth
- Competitive interest rates
- Several payment options to fit your income needs
- Direct payment to a named beneficiary to avoid probate
- Safe, reliable vehicle for retirement income
SBLI annuity options
With SBLI annuities, you can receive payments now or down the road.
The SBLI Single Premium Immediate Annuity is our fixed immediate annuity product. If you need guaranteed payouts now, this is an ideal choice. You pay a single premium and immediately can start receiving payments monthly, quarterly, semi-annually or annually.
The SBLI Optimizer MVA Series Annuity is our fixed deferred annuity option. Your initial investment accrues interest tax-deferred with payouts starting on a future date which you determine. This annuity also features penalty-free withdrawals and access to funds during terminal illness and other critical events.
Great Rate of 2.75%
As of July 15, 2016, the interest rate for the MVA Optimizer 5 annuity is 2.75%. This rate is guaranteed for five years and assumes a $250,000 deposit. Click here to find other rates and terms information.