Foundations Annuity

At a glance

Product name: Foundations Annuity
Product type
Fixed Index Annuity
Minimum purchase
$25,000
Account type(s):
403(b)
IRA
Non-qualified 403(b)
Roth 403(b)
Roth IRA
SEP IRA
Cost
N/A
Surrender charges
5-year; 7-year
Strategy
5 Index Accounts + Fixed Account
Optional rider(s):
Lifetime Income Rider: 0.90%

Being close to or in retirement may not be the time to take risks with your retirement savings, but that doesn't mean you have to sacrifice growth for safety.

Key features
  • Tax-deferred growth based on six different crediting accounts
  • Safety of principal
  • Income you can't outlive

The Foundations Annuity, a fixed index annuity, can help grow your retirement savings without investing in the stock market. You can receive interest credits based on a portion of the increase of a financial market index, but are guaranteed never to lose money due to market loss.

And, with the optional Guaranteed Lifetime Withdrawal Benefit (Lifetime Income) Rider (only available with the 7-year contract), you’re guaranteed a set amount of income for the rest of your life or you and your spouse’s lives, even if your Account Value reaches $0. 

Not available in New York.

Learn more about the benefits of the Foundations Annuity.

Talk to your financial professional to find out whether a Foundations Annuity can complement your retirement portfolio.

Calculators
Rates
Effective Date: 06/17/2019
Index Accounts with Caps 5-yr Cap 7-yr Cap
S&P 500® Annual Point to Point 3.25% 4.75%
S&P 500® Monthly Sum 1.50% 1.75%
S&P 500® Annual Average 3.50% 5.00%
Index Accounts with Spreads 5-yr Spread 7-yr Spread
S&P 500® Low Volatility Daily Risk Control 5% Annual Point to Point 3.20% 1.50%
S&P 500® Low Volatility Daily Risk Control 5% 2-Year Point to Point 2.25% 1.00%
Fixed Account 5-yr Rate 7-yr Rate
Current Interest Rate 1.75% 1.75%
Guaranteed Minimum Interest Rate 1.30% 1.30%

Product videos

Security Benefit Foundations Overview

Safely protect and grow your retirement savings, even in volatile markets.

S&P 500® Low Volatility Daily Risk Control 5% Index Accounts

Find out how interest is credited using this uncapped strategy designed to manage market volatility (an annual spread applies).

S&P 500® Annual Point to Point Index Account

Learn how we credit interest based on the percentage change in the index from one contract anniversary to the next.

S&P 500® Monthly Sum Index Account

Find out how interest is calculated based on the sum of the monthly changes from the S&P 500® index value from the previous year (a cap applies to each positive monthly change, but not to negative changes).

S&P 500® Annual Average Index Account

This video shares how interest is calculated based on the average of the monthly ending values of the S&P 500® Index Value and is compared to the Index Value on the previous contract anniversary.

Security Benefit Life Insurance Company is not a fiduciary and the information provided is not intended to be investment advice. This information is general in nature and intended for use with the general public. For additional information, including any specific advice or recommendations, please visit with your financial professional.

The Security Benefit Foundations Annuity, form 5800 (11-10) and ICC10 5800 (11-10), a flexible purchase payment deferred fixed index annuity, and the optional Guaranteed Lifetime Withdrawal Benefit Rider, form 5821 (5-11) and ICC11 5821 (5-11) an optional rider available for purchase with the Foundations Annuity and for which an annual charge applies, are issued by Security Benefit Life Insurance Company. 

Product features vary by state, including but not limited to the Surrender Charge rates, Surrender Charge period and applicability of the Market Value Adjustment.

Bonus annuities may include changes to the elements used to determine the index interest credits or changes to the interest rate that are not included in similar annuities without a bonus. These changes may include lower current interest rates, higher surrender charges, longer surrender charge periods, lower participation rates or caps, higher spreads, or other changes. The amount of charges or reduction in interest credits may exceed the amount of the bonus.

Product not available in New York.

Guarantees provided by annuities are subject to the financial strength of the issuing insurance company. Annuities are not FDIC or NCUA/NCUSIF insured; are not obligations or deposits of, and are not guaranteed or underwritten by any bank, savings and loan or credit union, or its affiliates; and are unrelated to and not a condition of the provision or term of any banking service or activity.

Fixed index annuities are not stock market investments and do not directly participate in any stock or other investments. Unless stated otherwise, market indices do not include dividends paid on the underlying stocks, and therefore do not reflect the total return of the underlying stocks; neither an index nor any market index annuity is comparable to a direct investment in the equity markets. Consumers who purchase index annuities are not directly investing in a stock or other index.

S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P'') and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). These trademarks have been licensed for use by S&P Dow Jones Indices LLC. S&P® and S&P 500® are trademarks of S&P and have been sublicensed for certain purposes by Security Benefit Life Insurance Company (Security Benefit). The S&P 500® index is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Security Benefit. The Security Benefit annuity referenced is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P or their respective affiliates make any representation regarding the advisability of purchasing such product.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Security Benefit. Standard and Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Security Benefit. The Security Benefit annuity referenced is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.