Mountain Life Secure Summit 3 (w/ liquidity)

Quick Summary

Key Details

• Ratings: Mountain Life Insurance Company is rated B+ by A.M. Best.
• Guaranteed Rates: 5.75% for premiums of $5,000 - $1,000,000. This fixed guaranteed rate ensures predictable tax-deferred growth, making it an excellent alternative to bank CDs.
• Term: The interest rate is guaranteed for 3 years with a surrender charge schedule of the same duration.
• Free Withdrawals: Yes, there is liquidity as the product allows for 5% in year 2+ that do not incur any surrender charges.
• RMDs: No, RMDs are not free, unless part of any available free withdrawals.
• Age Eligibility: Available for owners between 0 to 90 years old.
• Minimum Premium: Investors can contribute a minimum of $5,000
• Death Benefit: Yes, the product has a traditional death benefit of the annuity's accumulation value, available to the beneficiary with no surrender charges.
• Market Value Adjustment (MVA): Yes, the MVA is applicable to any withdrawals that also incur surrender charges.
• Nursing Home Waiver: Yes, if the owner is confined to a nursing home per the definition in the contract, surrender charges and MVAs are waived.
• Terminal Illness Waiver: Yes, if the owner is terminally ill as defined in the contract, surrender charges and MVAs are waived.