Company Information
Company Name
Global Atlantic Life
Product Name
Global Atlantic SecureFore 3
Description
The SecureFore 3 is a single premium fixed annuity with a 3-year rate lock. After 3 years, the full account value can be withdrawn, transferred, or reinvested. The policy does not automatically renew for a new term. Instead, it declares a new, one-year rate and remains fully liquid in annuity form.
Two interest rate bands are available. The highest rate is for deposits above $100K and a lower rate is available for deposits between $10K – $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+
10% / 10%
Rate
4.75%
Term
3 Years
Minimum Investment
$ 100,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
8%, 8%, 7%, 0%
What We Like About This Annuity
Offered from an A rated company and includes a 10% free withdrawal provision in all years. Policy does not automatically renew at maturity for a new term. There are no surrender charges at passing.
Notable Features
At no cost, this policy includes terminal illness, nursing home, and annuitization waivers. Non-qualified stretch accounts are accepted for inherited annuities.
Other Popular Products
Global Atlantic Life offers a comprehensive, tax-qualified long term care annuity (ForeCare) that is very popular. They also have several fixed-indexed annuities - one of which has a guaranteed increasing death benefit for those interested in wealth transfer accounts.
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About Global Atlantic Financial Group
Founded in 2004 by Goldman Sachs, this large and well-diversified insurance company boasts an A rating from AM Best and over $160 billion under management.
They specialize in life and annuity products while also providing reinsurance products. KKR, a leading global investment firm, is now their sole owner and asset manager. Global Atlantic is committed to providing financial protection for their customers’ needs today and tomorrow.