Evolve 7
Silac Insurance Company
8.5%
Best Cap
5%
Free W/D
46
States
SIC-EVOLVE-B is a modified single premium fixed indexed annuity designed for retirees seeking guaranteed lifetime income, principal protection, and tax-deferred growth with flexibility to choose between fixed interest rates or market-indexed returns.
Free Withdrawal
5%/yr
Available In
46 states
Min Premium
$10,000
Surrender
7 years
Current Rates & Strategies
| Index | Crediting | Cap | Participation | Fixed |
|---|---|---|---|---|
| Barclays Atlas 5 Index | Annual | -- | 190% | -- |
| Bloomberg Versa 10 Index | Annual | -- | 80% | -- |
| Nasdaq Generations 5 Index | Annual | -- | 100% | -- |
| S&P 500 Duo Swift Index (USD) ER | Annual | -- | 70% | -- |
| S&P 500 Index | Annual | 8.5% | 100% | -- |
| S&P 500 Index | Monthly | 2.75% | 100% | -- |
| S&P 500 RavenPack AI Index (USD) ER | Annual | -- | 200% | -- |
| Fixed Account | Daily | -- | -- | 4% |
Key Features
Lifetime Withdrawal Benefit
Based on income value; costs 1.50% annual spreadAutomatically included income rider providing guaranteed payments for life based on income value, with option for level or increasing withdrawals
Premium Bonus
3% (example in comparison charts)Immediate boost to your account value added when you purchase the annuity
Annual Floor Protection
0% floor guaranteedYou earn a minimum of 0% interest annually—no losses due to market downturns
Crediting Strategy Options
Multiple strategies available with annual reallocationChoose between guaranteed fixed interest rate or indexed strategies tied to external market indexes with caps/spreads
Free Withdrawals
5% of account value annually, plus RMDsAccess to funds without penalty after first policy year
Withdrawal Charge Period
7, 10, or 14-year terms availableLong-term commitment period (7, 10, or 14 years) allows higher interest credits; charges apply to excess withdrawals during this period
Wellness Withdrawal
2x lifetime withdrawal amountIf you cannot perform two of six Activities of Daily Living, receive double your lifetime withdrawal for up to five years
Death Benefit
100% of account valueFull account value passes to beneficiaries, avoiding probate
Tax Deferral
Tax deferred until withdrawalGrowth is not taxed until you withdraw funds, allowing more money to work for you longer
Highlights
Guarantees where you need them with flexibility for growth potential through fixed or indexed crediting strategies
Lifetime income you cannot outlive, automatically included with no additional cost
Principal protection with 0% annual floor—your money never loses value due to market downturns
Immediate growth through premium bonus plus higher account values that outpace competitor products over time
Built-in health benefits including nursing home, terminal illness, and home health care access to funds
Surrender Schedule
Yr 1
12%
Yr 2
12%
Yr 3
11%
Yr 4
10%
Yr 5
9%
Yr 6
7%
Yr 7
4%
After
0%
Home health care rider, Nursing home waiver, RMD waiver, Terminal illness waiver
Best For
Retirees seeking guaranteed lifetime income, principal protection from market volatility, and tax-deferred growth who can commit funds for 7-14 years and want both security and growth potential.
Consider Alternatives If
Investors needing immediate access to all funds without penalties, those uncomfortable with long-term commitments, or individuals who prioritize maximum growth over income guarantees and principal protection.
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