ANNUITIES

Gold Series Sage Investor Single Premium Deferred Annuity

THE TIME TO PLAN FOR RETIREMENT IS NOW

When your working days come to an end, so does your salary. And pensions and social security usually can't cover the total lost income. So where will the money for your retirement come from? For many people, a deferred annuity may be the answer. Why choose an annuity? For those with time to save for retirement and who may be uncomfortable with more risky stock market investments, a deferred annuity offers an excellent alternative. The Gold Series Sage Investor Single Premium Deferred Annuity builds from a single initial investment and earns a competitive fixed rate of interest that accumulates on a tax deferred basis. Since your earnings will not be subject to income tax until they are withdrawn by you, the value of your contract is not being reduced by taxes. This means the money that would have gone to pay taxes stays in your annuity and continues to earn interest. Because of the tax deferral, your money typically grows faster than it would have in a similar taxable investment.

Free Withdrawal Provision

Provides you with a one time opportunity to receive 100% of the Accumulated Value of the contract without penalty should the crediting interest rate be lowered more than 1% from the Initial Fixed Rate. This is referred to as the "Bailout Provision". To exercise the Free Partial Withdrawal Provision, simply notify Sagicor Life within 30 days of receiving the written notice of any interest rate change greater than 1% and Sagicor Life will return 100% of the contract's Accumulated Value with out any Surrender Charge. The Free Withdrawal Provision can only be exercised during the 30 days following the interest crediting rate change notification that makes this Provision available and if it is not exercised on the first opportunity, any subsequent interest crediting reductions will not be eligible for the Free Withdrawal.

Interest Crediting

Due to ever changing market conditions, the initial interest rate that will be credited to your annuity is determined at the time of purchase. Once determined, your initial interest rate is then guaranteed by Sagicor Life for 12 months. Each year thereafter, and on your contract's anniversary, you will receive an Annual Statement showing the interest rate to be credited for the next 12 months. This interest rate will never be less than the minimum interest rate stated in your contract. Both the initial interest rate and the projected interest rate for years 2 through 6 will be provided by your producer prior to your purchase and should be considered carefully as part of your decision making process.

Free Partial Withdrawal

You may take one withdrawal a year up to 10% of the accumulated contact value surrender charge free. However, withdrawals may be subject to regular income tax and, if made prior to 59 1/2 may be subject to a 10% IRS penalty. Sagicor Life does not render legal or tax advice. If legal or tax advice is required, the services of a qualified competent professional should be sought. (The minimum withdrawal is $100).

Waiver of Surrender Charge

The Sage Investor includes a Waiver of Surrender Charge Rider at no extra cost. If the owner of the contract is confined to a licensed nursing home or hospital for 90 consecutive days or more, the contract's Accumulation Value will be available without a surrender charge.

Surrender Charge

The Sage Investor is not subject to any up front sales charge. However, during the first six (6) years that you own your contract, there is a penalty called surrender charge that will be incurred for withdrawals in excess of the maximum free partial withdrawal amount. Surrender charge by contract year are as follows: Year 1 = 7%, Year 2 = 7%, Year 3 = 7%, Year 4 = 6%, Year 5 = 5%, Year 6 = 3%, Year 7+ = 0%. The surrender charge does not apply in the event of the owner's death or in instances when the waiver of surrender charge rider is available.

Sage Investor Single Premium Deferred Annuity - Product Overview

Six (6) Year Single Premium Deferred Annuity
Issue Ages - 15 days to 90 years (age last birthday)
Maximum issue age on qualified plans is 75
Minimum Premium - $5,000. Qualified - Per IRS guidelines
Maximum Premium - $500,000 or greater requires approval
Free Withdrawal Provision (Bailout Provision) - Included with contract
Contract Loan - None
Free-Look Period - 30 days
Death Benefit - Contract's Accumulation Value on the date of the owner's death. Surrender changes do not apply.
Maturity Age- 100
Contract Issue Dates - Contracts will be issued daily. Funds will be credited from the date funds are received at the home office
Annuity Payments - Allowed after the first contract year, annuity payments can be taken either as income payments for life, or as income payments for a specific period of years
Market Value Adjustment (MVA) - An MVA will apply, only during the surrender period, to any partial withdrawals in excess of the maximum free partial withdrawal amount and at the time the contract is surrendered. Depending on the direction interest rates move, the MVA may increase or decrease benefits payable under the contract. However, in no event will the MVA reduce cash surrender value below the guaranteed minimum cash surrender value. An MVA will not apply if a payment option is elected that provides annuity payments for five years or longer, to a death benefit, or if the Waiver of surrender charge rider is activated.

Disclosure

Insurance products are issued by Sagicor Life Insurance Company, a member of the Sagicor Group. Sagicor Life Insurance Company is licensed in 44 states and the District of Columbia and is rated A- (Excellent) by AM Best. Product availability and features may vary by state. Some riders may have additional fees and expenses associated with them. The product descriptions provided on this website are not intended to constitute an offer to sell or a solicitation to buy any product. Consumers interested in Sagicor Life products should contact their local registered Sagicor Life Producer.