Safeguard Plus 7
Multi-Year Guarantee Annuity
The Safeguard Plus 7 is a deferred multi-year guarantee annuity issued by Farmers Life Insurance Company.
The current 7 year guarantee period annual yield is 5.40% (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 Safeguard Plus 7 has a full penalty free withdrawal window after 7 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 interest only (noncumulative) as the penalty free withdrawal amount.
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.
Farmers Life Insurance Company is rated “B++” by A.M. Best, was founded in 1997, and has over $309 million in total assets.
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Jan 11th, 2025
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7 years
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| Current | ||
|---|---|---|
| 7 Year Guarantee Period Annual Yield: | 5.40% | |
| Interest rate start of year 1 through end of year 7: | 5.40% | |
Accumulation Value (assuming no withdrawals) |
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7 years
7 years
7 years
State variations may exist, refer to product disclosure for details.
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$10,000
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$10,000
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$1,000,000
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$1,000,000
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90
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90
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60 days
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Yes
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Accumulation Value
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No
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Interest Only
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Interest Only
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No
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Yes
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See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.
Not available in: CA, CO, CT, DE, DC, FL, HI, ID, KS, ME, MD, MI, MN, NH, NJ, NY, NC, OR, RI, SC, SD, VT, VA, WA and WI (as of 08/13/2024)
The following are optional riders available at the time of application. The crediting rate is reduced 0.10% when either rider is elected and reduced 0.20% if both are elected.
5% Free Withdrawal Rider: Access the greater of 5% of the contract value as of the last Contract Anniversary for the first withdrawal in each Contract Year or the Required Minimum Distribution (RMD), as calculated under the Internal Revenue Code, without paying surrender charges or an MVA.
Enhanced Benefit Rider: Access to the account value if you are diagnosed with a terminal illness (12 months or less to live) or have been confined at least 60 days to a qualified nursing care facility without paying surrender charges or an MVA.
Description Here
