Company Information
Company Name
National Life Group
Product Name
National Life RetireMax Secure 5
Description
The RetireMax Secure 5 is a single premium, fixed annuity with a guaranteed five-year rate lock. After five years, owners can withdraw, transfer, or maintain their accounts. The policy does not automatically renew. Rather, it declares a new, one-year rate and remains completely liquid.
The highest rate is for deposits of $100K or more while a lower rate is available for amounts between $25K – $99.9K. Account accepts both qualified and non-qualified funds. Special loan provisions are available for certain employer-sponsored plans. Non-MVA option is available with lower rates.
AM Best Rating
A+
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
5.00%
Term
5 Years
Minimum Investment
$ 100,000
Maximum Investment
$2,000,000 without prior approval
Maximum Age
85
Surrender Schedule
7%, 7%, 7%, 6%, 5%, 0%
What We Like About This Annuity
Account does not automatically renew at maturity. Offered from an A+ rated carrier with 10% free withdrawals in year two. No surrender charges at death.
Notable Features
This contract includes nursing home, terminal illness, and annuitization waivers at no cost. Loan provisions are allowed (by rider) as part of employer 403(b) and 457(b) employer based annuity plans.
Other Popular Products
National Life Group is known for offering competitive single-premium and flexible-premium fixed and indexed annuities. Life insurance and retirement plans are also popular with employer groups.
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About National Life Group
This large, well-diversified insurance company has offices in both Vermont and Texas. They boast an A+ rating with an impressive record of over 175 years in business. They issue their fixed annuity policies from the Life Insurance Company of the Southwest.
They are active in both the individual and family markets – and also offer insurance policies for business owners and employer groups. Their mission statement is to Do Good, Be Good, and Make Good for the consumers and business groups they serve nationwide.