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Multi-Year Guarantee Annuity Details

Product Name

ECAccumulate 5

Annuity Type

Multi-Year Guarantee Annuity

Issuing Insurance Company and Ratings

A
(3rd of 15 ratings)
A-
(7th of 20 ratings)
Not Rated
Not Rated
75
(percentile of rated companies)

Product Information

The ECAccumulate 5 is a deferred multi-year guarantee annuity issued by SBLI - Savings Bank Life Ins Co of MA.

The current 5 year guarantee period annual yield is 2.70% (see Rate Details below). This is the guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window. The ECAccumulate 5 has a full penalty free withdrawal window after 5 years.

During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. Beginning with the first contract year, and each year thereafter, this annuity provides up to 5% (noncumulative) of the contract value may be withdrawn from the annuity each contract year without penalty.

This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.

Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.

SBLI - Savings Bank Life Ins Co of MA is rated “A” by A.M. Best, was founded in 1907, and has over $3.4 billion in total assets.

Rate Details

Jun 15th, 2021
Not Scheduled
5 years

Premium Amount: $25,000 - $1,000,000

Current
5 Year Guarantee Period Annual Yield: 2.70%
Interest rate start of year 1 through end of year 5: 2.70%

Initial Surrender Charge and MVA Periods

5 years

5 years

5 years

State variations may exist, refer to product disclosure for details.

Policy Details

$25,000
$25,000
$1,000,000
$1,000,000
85
85
45 days
Yes
Accumulation Value
No

Penalty Free Withdrawal Provisions

5%
5%
No
Yes
Death, Nursing Home and Terminal Illness

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Not available in:  MT and NY (as of 09/07/2021)