What is the minimum guaranteed surrender value for Nassau Simple Annuity (California)?

This California version of the Nassau Simple Annuity requires a one-time premium payment and offers a fixed interest rate guaranteed for either 4 or 6 years. During the guarantee period, policyholders can access limited penalty-free withdrawals and are eligible for favorable treatment of Required Minimum Distributions. At term end, owners may choose to withdraw, renew, or select a new guarantee period. Upon the owner’s death, beneficiaries receive the contract value without penalties. The policy includes a terminal illness waiver and has clearly defined surrender charges and a minimum guaranteed rate, specifically applicable to contracts issued in California.

What is the minimum premium amount for Nassau Simple Annuity (California)?

The minimum premium amount is $5,000.

What is the maximum issue age for Nassau Simple Annuity (California)?

The maximum issue age is 85 years.

What is the current interest rate for Nassau Simple Annuity (California)?

The current interest rate is 5.5%.

What is the surrender charge schedule for Nassau Simple Annuity (California)?

For California contracts, surrender charges apply to withdrawals exceeding the 5% annual free limit during the guarantee period. Charges begin at 7.8% in year 1 and gradually decrease based on the selected guarantee period. The 4-year option reduces to 0% by year 5; the 6-year reduces to 0% by year 7. Surrender charges and MVA are waived upon the owner’s death, annuitization after the first year, or in the event of terminal illness (subject to conditions and age limits). A 30-day penalty-free window follows the end of each guarantee period for full or partial withdrawal without charges.

What are the best rates available for Nassau Simple Annuity (California)?

The best available rate is 5.75% for a 6 year term.

Nassau Life

Nassau Simple Annuity (California)

About this product

The Nassau Simple Annuity for California is a single-premium, multi-year guaranteed annuity issued by Nassau Life and Annuity Insurance Company. Designed for individuals seeking predictable growth and principal protection, it provides guaranteed interest rates locked in for fixed terms of 4 or 6 years. The product offers annual free withdrawals, multiple annuity payment options, and a death benefit without surrender charges. Tailored for conservative investors and retirement savings, this California-specific version emphasizes stability and guaranteed returns with no ongoing premium obligations.

Available Rates

Rates are based on current simulation settings with premium amount $100,000.00

4 Years	5.50%
6 Years	5.75%

Available Guarantee Periods

Rates are based on current simulation settings with premium amount $100,000.00

$5,000.00 - $1,000,000.00

5.5%

Features
Maximum Issue Age	85 years

Lifetime Income Details

Payout Options

Annuitization

Lump Sum Withdrawal

Additional Options

Actual payout options may vary by insurance carrier and specific products. Common alternatives include:

Life Income Only: Payments for the rest of your life, stopping upon death
Period Certain: Guaranteed payments for a specific time period (5, 10, 15, or 20 years)
Life with Period Certain: Lifetime payments with a minimum guaranteed period
Joint Life: Payments continue for both you and your spouse's lifetimes
Systematic Withdrawal: Regular withdrawals of a specified amount or percentage