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fixed annuities

Multi-Year Guarantee Annuity Details

Secure Foundation 5

This annuity product has been withdrawn by the issuing insurance company and is no longer available for new purchases.

Product Name

Secure Foundation 5

Annuity Type

Multi-Year Guarantee Annuity

Issuing Insurance Company and Ratings

Not Rated
Not Rated
Not Rated
Not Rated
Not Ranked

Product Information

The Secure Foundation 5 is a deferred multi-year guarantee annuity issued by Upstream Life Insurance Company.

The current 5 year guarantee period annual yield is 2.66% (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 Secure Foundation 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 interest only (cumulative) as the penalty free withdrawal amount.

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

Upstream Life Insurance Company is rated “Not Rated” by A.M. Best, was founded in 1912, and has over $217 million in total assets.

Rate Details

Premium Amount: $10,000 - $1,000,000

Current
5 Year Guarantee Period Annual Yield: 2.66%
Simple interest rate start of year 1 through end of year 1: 3.00%
Simple interest rate start of year 2 through end of year 5: 2.75%
This annuity product has been withdrawn by the issuing insurance company and is no longer available for new purchases.

Initial Surrender Charge and MVA Periods

5 years

5 years

5 years

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

Policy Details

Penalty Free Withdrawal Provisions

None

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

State Variations

Available only in:  AZ, AR, CO, DC, ID, IL, IN, LA, MD, MS, MT, NE, NM, ND, OH, SD, TN, TX, UT, WV and WY (as of 07/13/2020)

Notes

Death Benefit: If the optional Death Benefit Rider is not selected the Death Benefit is equal to the Cash Surrender Value. If owner’s spouse is named as the sole primary beneficiary, they may elect to assume ownership of the contract and continue it for the remainder of the term. Also, beneficiaries can receive the full Contract Value by choosing a 5-year Settlement Option.

The following optional riders are available to increase liquidity, but will reduce the annual interest rate credited by percentages shown:
10% Free Withdrawal Rider – 0.15%
Death Benefit Rider – 0.25%

Owner issue ages 81+ are required to purchase the Death Benefit Rider.

Current year’s RMD should be taken prior to transfer/rollover.