Company Information
Company Name
Integrity Life
Product Name
Integrity Life New Momentum 10
Description
The New Momentum 10 is a single premium, fixed annuity with a ten-year rate guarantee and seven-year surrender schedule. The first year includes a 0.75% premium bonus resulting in the blended rate listed below. This blended rate assumes no withdrawals and compounding interest for the 10-yr term.
After seven years, investors can withdraw, transfer, or reinvest their full account value. If no action is taken, the contract continues at the current guaranteed rate penalty free until the ten-year term is done.
This policy accepts both qualified and non-qualified deposits. There are no surrender charges at death.
AM Best Rating
A+
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
4.02%
Term
10 Years
Minimum Investment
$ 5,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
8%, 7%, 6%, 5%, 4%, 3%, 2%, 0%
What We Like About This Annuity
Offered from an A+ rated company and low minimums to start. Very unique seven year surrender schedule and a ten year rate guarantee. Additionally, it offers a .75% premium bonus and 10% free withdrawals annually. Unemployment (hardship) waiver included for penalty-free withdrawals.
Notable Features
At no cost, this annuity includes Terminal Illness, Confinement, Unemployment, and Annuitization waivers. Surrender charges will be waived assuming certain conditions are met.
Other Popular Products
Integrity Life on its own is known for multi-year guaranteed annuity (MYGA) accounts with first year premium bonuses. Their parent company Western & Southern provides a host of insurance and investment products.
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About Integrity Life Insurance Company
Located in Cincinnati, OH, this A+ rated insurance company is part of the Western & Southern Financial Group. They have offered life and annuity policies to their customers since 1966 through independent agents and brokers.
Integrity Life specializes in annuities for growth and income geared toward safe and predictable retirement planning. They are built on financial strength and are one of the leading insurance companies in Ohio.