Company Information
Company Name
Atlantic Coast Life
Product Name
Atlantic Coast Safe Haven 20
Description
This is a single-premium simple interest fixed annuity with a twenty-year rate guarantee. The rate below reflects the compounding equivalent should interest not be withdrawn. If the interest is withdrawn, the rate is higher, but does not compound.
Several withdrawal features are available and will reduce the annual interest rate. Policies can be purchased at issue ages of 70-75, but must include the death benefit feature. All Florida contracts automatically include the death benefit rider and have a lower interest rate.
AM Best Rating
B++
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 0%
Rate
4.15%
Term
20 Years
Minimum Investment
$ 5,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
69
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 5%, 0%
What We Like About This Annuity
This is the longest term annuity on the market. Good for younger savers who want to lock in a competitive rate for several years. Small minimum amounts needed to start.
Notable Features
Several withdrawal riders available, including: Accumulated Interest (cost = .05%), Preferred 10% of the contract value (cost =.15%), Surrender-free death benefit (cost = .25%). Any riders can be added and will reduce the yearly rate by stated amount
Other Popular Products
ACL specializes in annuities and final expense life insurance. Their funeral needs policies are competitively priced while fixed-indexed annuities are popular for bonus opportunities, growth and income.
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About Atlantic Coast Life
ACL was founded in 1925 and is headquartered in Charleson, SC. Over the years they’ve evolved from a small insurance company primarily offering final expense insurance to a much larger, billion dollar preneed life and annuity-focused carrier. Together with their sister company, Sentinel Life, they offer annuities in most of the US.
They strive to be a beacon of integrity in all of their dealings with clients, agents, and producers.