Company Information
Company Name
The Standard Life
Product Name
The Standard Focused Growth Annuity 3
Description
The Focused Growth Annuity 3 is a modified, single-premium fixed annuity with a three-year rate guarantee. Additional premiums are accepted in the first 90 days and are credited with the current rate at deposit.
After three years, owners have a 30-day window to withdraw, transfer, or reinvest their entire account value. If no action is taken, the annuity will renew for a new three-year term.
Two rate bands are available. The highest rate is for deposits above $100K. A lower rate applies to deposits between $15K – $99.9K. Qualified and non-qualified funds are accepted. No surrender charges at death.
AM Best Rating
A
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
Int / Int
Rate
4.45%
Term
3 Years
Minimum Investment
$ 10,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
93
Surrender Schedule
9.40%, 8.50%, 7.50%, 0%
What We Like About This Annuity
Offered from an A rated company and includes free interest withdrawals in all years. No surrender charges apply at death or for IRA Required Minimum Distributions. Several variations available including those with more withdrawal options and/or a Return of Premium provision.
Notable Features
At no additional cost, free Nursing Home, Terminal Illness, accumulated interest, and RMD withdrawals are included. Policy can be annuitized penalty free at any time.
Other Popular Products
The Standard is well known for Disability Insurance coverage, Accident plans, Critical Illness, and Hospital Indemnity policies in both the individual and business markets.
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Originally founded in 1906 as Oregon Life Insurance Company, The Standard is a diversified insurance company servicing customers nationwide. They are domiciled in Portland, OR, and have over $66.7 billion in assets under management. In 2016, they became part of the Meiji Yasuda family of companies.
This community-focused and remote-first carrier offers individual, family, and business solutions through several lines of insurance. Annuities, disability, life, accident, critical illness, and indemnity plans are just a few of their comprehensive offerings.