Summit Bonus Index
Sentinel Security Life
2.5%
Best Cap
10%
Free W/D
33
States
The Summit Bonus Index Annuity is a fixed indexed annuity designed to provide retirees with a guaranteed lifetime income stream while protecting their principal from market losses. It's ideal for those seeking predictable retirement income with the potential for growth tied to the S&P 500 Index.
Free Withdrawal
10%/yr
Available In
33 states
Min Premium
$5,000
Surrender
10 years
Current Rates & Strategies
| Index | Crediting | Cap | Participation | Fixed |
|---|---|---|---|---|
| S&P 500 Index | Annual | 2.5% | 100% | -- |
| S&P 500 Index | Daily | 2.5% | 100% | -- |
| S&P 500 Index | Monthly | 2.5% | 100% | -- |
| Fixed Account | Daily | -- | -- | 1.5% |
Key Features
Premium Bonus
15% with Income Rider (7% without)An automatic one-time bonus credited to your account at purchase to help your money grow faster
Income Account Roll-Up
7.25% compounded annually for 10 yearsYour income account value grows annually even before you take payments, guaranteeing higher future income
Guaranteed Lifetime Withdrawal Benefit
Available age 55+ with Income RiderYou can never outlive your income payments once you start receiving them, even if your account balance reaches zero
Index Crediting Strategies
4 strategies plus fixed account optionChoose how your money grows: Annual Point-to-Point, Monthly Averaging, Daily Averaging, or Monthly Sum—all tracking the S&P 500 with downside protection
Principal Protection
0% floor on all index strategiesYour account value never drops below zero even if the S&P 500 declines; you simply earn 0% in down years
Free Withdrawals
10% annual access + RMD provisionsAfter year 1, withdraw up to 10% of your contract value annually without surrender charges; also access earned interest penalty-free in year 1
Highlights
Guaranteed lifetime income with a 7.25% annual roll-up rate for 10 years, doubling your income account value by year 8
Generous 15% premium bonus (with Income Rider) that immediately boosts your starting account balance
Principal protection against market downturns while still capturing S&P 500 index growth through multiple crediting strategies
Flexibility to access funds through multiple withdrawal options without surrender charges in certain circumstances
Income available as soon as year 1 for those age 55+ with spousal continuation options
Surrender Schedule
Yr 1
12%
Yr 2
11%
Yr 3
10%
Yr 4
9%
Yr 5
8%
Yr 6
7%
Yr 7
6%
Yr 8
5%
Yr 9
4%
Yr 10
2%
After
0%
RMD waiver
Best For
Retirees and near-retirees age 55+ who want guaranteed lifetime income, principal protection from market downturns, and the potential for growth indexed to the S&P 500.
Consider Alternatives If
Those who need immediate access to all their funds within the first 5 years or who are uncomfortable with index-based crediting mechanics should consider alternatives.
Carrier Ratings
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