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Traditional Deferred / Flexible Premium Annuities - Liberty Series

Traditional deferred annuities are offered only through Liberty Bankers Life all contain the following common features:

  • The initial rate at issue is guaranteed for the first contract year and includes a first year interest rate bonus.
  • The rate for subsequent years will be established on each anniversary date and will never be below the minimum rate guarantee in the policy contract. Historically this rate has equaled the base rate, but that is not guaranteed.
  • Includes a Health Waiver Endorsment (discussed later).
  • May be issued as non-qualified or as an IRA or Roth IRA.
  • The maximum amount of total premium accepted without prior approval is $1,000,000 for all issue ages. Premiums above $1,000,000 require submission of a Large Case Annuity Questionnaire for approval prior to taking the application.
  • The minimum initial premium is $5,000. Additional premiums may be added, subject to a minimum of $100, as often as one time per month. Additional premiums may be set up via electronic transfer (ACH).
    • They allow for systematic withdrawal of interest as often as once per month, quarterly, semi-annually or annually. Individual interest withdrawals are limited to twice per year. Any withdrawal is subject to a minimum $100.
    • They contain a Market Value Adjustment (MVA) (discussed later).
    • The death benefit is:
      • The accumulated value with no surrender charges or MVA on the death of the annuitant if also the owner.
      • The surrender value on the death of the owner, if other than the annuitant. Surrender charges and MVA will be applied when determining the death benefit.

    The following chart briefly describes the specific product differences. (Please consult the policy form and product disclosure for complete details.)

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