GUARANTEED INCOME ANNUITY

The Guaranteed Income Annuity was designed to help retirees plan for a more secure financial future for themselves and their loved ones.

 

If you are interested in protecting your retirement assets from market risk while allowing them to grow, providing a legacy for your loved ones, or creating a stream of income that is guaranteed for your lifetime, then the Guaranteed Income Annuity may be a good option to help you achieve your retirement and financial goals.*

SOFR:

The Guaranteed Income Annuity’s interest rate is calculated by utilizing a participation rate of the Secured Overnight Financing Rate, or SOFR rate.  The SOFR rate is a benchmark rate used throughout the world. The SOFR rate is published daily by the Federal Reserve Bank of New York and is based on overnight transactions in the U.S. Treasury repurchase agreement (repo) market.   

Thanks to SOFR, Atlantic Coast Life Insurance Company is able to offer our clients the potential to earn a rewarding return in a rising rate environment.

SOFR is a fully transaction-based rate reflecting roughly $1 trillion of daily transactions in a market with a diverse set of borrowers and lenders, including asset managers, banks, broker-dealers, corporate treasurers, insurance companies, money market funds, pension funds, and securities lending agents.


*Subject to all terms and conditions of the contract.

Interest rates for the Guaranteed Income Annuity are based off the London Interbank Offered Rate (LIBOR). The LIBOR is a reliable benchmark rate used throughout the world. LIBOR is widely used in the United States and with many of the world’s leading banks as a reference to what should be charged for lending money to one another. This annuity is benchmarked against the LIBOR, as general interest rates increase, so does the LIBOR and vice versa. Thanks to LIBOR, Atlantic Coast Life can offer clients potential to earn a rewarding return in a rising rate environment. Find out more about LIBOR

RIDERS:

With the Guaranteed Income Annuity, you are given three different benefit riders to choose from, each designed to help you achieve your retirement goals. Select the rider that best suits your needs.
* Subject to all terms and conditions of the contract.

Guaranteed Lifetime Withdrawal Benefit Rider

PREDICTABLE INCOME

If your main goal is to make sure you have a dependable income source for your retirement, this rider is designed for you. The Guaranteed Lifetime Withdrawal Benefit Rider will give you a guaranteed amount of income for your lifetime so that you can have a continual steady stream of money always coming in. This rider helps provide more financial confidence that you will have enough retirement income for your lifetime. This rider is available for a fee.
Not available in all states. Contact an agent or visit www.aclico.com for listings.

Legacy Benefit Rider

LEAVING A LEGACY

Are you looking to leave an additional amount to your beneficiaries? With the Legacy Benefit Rider you place the focus on making sure those you care about are taken care of. Each year on your contract anniversary your Legacy Benefit Base will increase by the interest rates applied to your accumulation value, plus a guaranteed 4% stacked on top. Your death benefit has the potential to grow to 250% (varies by state) of the amount of your purchase payments! This rider is available for a fee.

Accumulation Benefit Rider

CONSISTENT GROWTH

Perhaps what you are aiming to do with your retirement is provide your funds an opportunity to grow with minimum risk while receiving the benefits of the other riders. If so, we would recommend selecting the Accumulation Benefit Rider. Your Benefit Base interest rate is 175% of interest applied to the Accumulation Value for the first roll-up period of 10 years. This is also the only rider with zero fees!

Guaranteed Income Annuity Rates

Effective 6/26/2023

  10 Year Contract
Premium Bonus
GLWB Rider: 11%***
Legacy Rider: 10% for issue ages under 71
5% for issue ages 71-80
3% for issue ages 81-85
Accum Rider: 10% for issue ages under 71
8% for issue ages 71-80
6% for issue ages 81-85
1st Year Rate 2.75% (with subsequent purchase premium)
Current Rate Guarantee 1 Yr
Index/Benchmark SOFR
Participation Rate 55%
Optional Riders and Cost
GLWB Rider: 1.25% fee years 1-5
1.60% fee years 6-10
Legacy Benefit Rider: 1.25% fee years 1-5
1.60% fee years 6-10
Accumulation Rider: No fee

Interest rates are subject to change without notice. Quoted rates may vary due to state regulations and taxes. Products, features, and riders may not be available in all jurisdictions. Refer to the policy for all terms and conditions. All Guarantees are based on the claims-paying ability of Atlantic Coast Life Insurance Company.

***Credits to the Income Account only 

The Secured Overnight Financing Rate (SOFR) data is calculated by using data obtained under license through application programming interface (API) issued by CME Group.

CME GROUP MARKET DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR CERTAIN ATLANTIC COAST LIFE INSURANCE COMPANY PRODUCTS. CME GROUP HAS NO OTHER CONNECTION TO ATLANTIC COAST LIFE INSURANCE PRODUCTS AND SERVICES AND DOES NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE ANY ATLANTIC COAST LIFE INSURANCE COMPANY PRODUCTS OR SERVICES. CME GROUP HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH ATLANTIC COAST LIFE INSURANCE PRODUCTS AND SERVICES. CME GROUP DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO ATLANTIC COAST LIFE INSURANCE AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THERE ARE NO THIRD-PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN CME GROUP AND ATLANTIC COAST LIFE INSURANCE COMPANY.

Guaranteed Income Annuity Rates

Effective 06/08/2020
10 Year Contract
Premium BonusGLWB Rider:8.00%
Legacy Rider: 10.00% for issue ages under 71
5.00% for issue ages 71-80
3.00% for issue ages 81-85
Accum Rider:10.00% for issue ages under 71
8.00% for issue ages 71-80
6.00% for issue ages 81-85
1st Year Rate1.00% (with subsequent purchase premium)
Current Rate Guarantee2 Yrs
Index/BenchmarkLIBOR
Participation Rate65%
Optional Riders and CostGLWB:1.25% fee years 1-5,
1.60% fee years 6-10
(10 year contract)
Legacy Benefit Rider:1.25% years 1-5
1.60% fee years 6-10
(10 year contract)
Accumulation Rider:No fee
*Death Benefit Feature is required in Florida and is priced into Florida rates. All Florida contracts are issued with the Death Benefit Feature. Owner’s issue age 86-90 for the five, six, seven, and ten year guarantee period and owner’s issue age 70-75 for the twenty year guarantee period are required to purchase Death Benefit Feature. Special introductory cap in the state of Florida. Interest rates are subject to change without notice. Quoted rates may vary due to state regulations and taxes. Not all annuities and optional riders are available in all states.

ATLANTIC COAST LIFE INSURANCE COMPANY IS A MEMBER OF THE A-CAP FAMILY

Copyright © 2024 Atlantic Coast Life Inc. All rights Reserved.
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