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Introduction to SILAC’s Fixed Indexed Annuities: A Brief Overview

Withdrawals exceeding the penalty-free amount or full surrender before the end of the guarantee period are subject to a declining surrender charge schedule.

There are no ongoing administrative or maintenance charges. The contract’s only costs are those associated with surrender charges or applicable market value adjustments (MVA) during the selected term.

The Florida version provides a full account value death benefit, ensuring beneficiaries receive the total accumulation value at the time of the owner’s death. This differs from the standard Elite version, which pays the cash value. The full account value benefit offers greater estate protection and transparency for Florida residents.

During the first policy year, clients may withdraw the greater of interest earned or any Required Minimum Distributions (RMDs) without penalty. Beginning in year two, up to 5% of the accumulation value, all accumulated interest, or the RMD (if greater) may be withdrawn each year free of surrender charges. This flexibility helps meet income needs while preserving long-term growth.

The Secure Savings™ Elite (Florida Version) is available for both 

 (IRA, Roth IRA, SEP IRA) and Non-Qualified funds. It is issued as a 

, meaning all premium must be paid at issue; no subsequent deposits are allowed.

Issued by SILAC Insurance Company, the Florida version of the Secure Savings™ Elite provides a guaranteed fixed rate throughout the selected term and full protection of principal against market loss. It supports both qualified and non-qualified funds, offering the flexibility to renew, annuitize, or fully withdraw without penalty at the end of the guarantee period. Liquidity riders, built-in waivers, and penalty-free withdrawal options provide adaptability for retirees and conservative savers alike.

At the end of the selected guarantee term, the policy automatically renews for a new term at SILAC’s then-current declared rate unless the policyholder chooses to withdraw or annuitize the funds. Policyholders receive a 30-day window to make changes without incurring surrender charges.

The surrender value equals the accumulation value minus any applicable surrender charges and market value adjustment (MVA) during the term. After the surrender charge period ends, the full accumulation value becomes available without penalty, offering complete liquidity at maturity.

single-premium Multi-Year Guaranteed Annuity (MYGA)

fixed, guaranteed growth, principal protection

 This Florida-specific version preserves the key features of the standard Elite product while aligning with state-specific requirements such as a full account value death benefit. With enhanced liquidity provisions and built-in waiver benefits, it offers short- to mid-term accumulation potential combined with access options for unexpected life events.

Withdrawals above the penalty-free amount or full surrender before the end of the term are subject to declining charges as follows:

None. No annual or maintenance fees apply.

 In the first contract year, owners may withdraw the greater of the interest earned or the RMD (if applicable). Beginning in year two, up to 

, may be withdrawn annually without surrender charges.

Issued by SILAC Insurance Company, the Secure Savings™ annuity guarantees a fixed rate for the full selected term and is available for both qualified and non-qualified funds. The policy offers multiple liquidity options and automatically renews at SILAC’s then-current declared rate unless the owner elects to withdraw or annuitize.

At the end of the guarantee period, the policy automatically renews for a new term at SILAC’s then-current declared rate unless the owner elects to withdraw or annuitize without penalty.

Equal to the accumulation value minus applicable surrender charges and any Market Value Adjustment (MVA).

single-premium Multi-Year Guaranteed Annuity (MYGA) 

offering tax-deferred growth, guaranteed fixed interest, and complete principal protection over 

Designed for short- to mid-term savers seeking predictable returns without market risk, the contract provides flexible liquidity through penalty-free withdrawals and benefit waivers. At maturity, clients may renew, withdraw, or annuitize their accumulation value with no surrender charges.

Withdrawals exceeding the penalty-free amount or full surrender before the end of the guarantee period are subject to declining charges.

Beneficiaries receive the cash value of the contract.

During the first contract year, the greater of interest earned or RMDs (if applicable) may be withdrawn without penalty. Starting in the second year, up to 5% of the accumulation value, accumulated interest, or RMDs (whichever is greater) can be withdrawn annually penalty-free.

Issued by SILAC Insurance Company, the Secure Savings™ Elite guarantees a fixed interest rate for the selected term. It is available for both qualified and non-qualified funds and includes built-in liquidity options through penalty-free withdrawals and benefit waivers. At maturity, the contract may be renewed, annuitized, or fully withdrawn without penalty.

Upon term maturity, the policy automatically renews at SILAC’s then-current declared rate unless the owner elects to withdraw or annuitize the funds.

Equal to the accumulation value minus applicable surrender charges and Market Value Adjustment (MVA).

 designed for clients who want tax-deferred growth, fixed interest accumulation, and full principal protection with enhanced liquidity options. Available in 

 the Elite version provides flexible withdrawal features through multiple rider choices while maintaining the same surrender structure as the standard Secure Savings™product. Backed by SILAC Insurance Company, this product is ideal for savers seeking consistent, short- to mid-term returns with more liquidity access.

Optional Rider Flexibility and Rate Impact 

– The base Secure Savings™ Elite contract does 

not include free withdrawals or RMD-friendly provisions

accumulated interest access, and Required Minimum Distribution (RMD) withdrawals

—are available only through optional riders elected at issue. Selecting one or more of these riders results in a 

rate reduction of approximately 0.06%–0.10%,

 depending on the rider and term. This design allows clients to balance 

maximum yield potential with customized liquidity,

 based on their individual retirement goals.

SILAC Secure Savings™ Elite (Florida – 2-, 3-, 5-Year Terms)

SILAC Secure Savings™ (2-, 3-, 5-Year Terms)

SILAC Secure Savings™ Elite (2-, 3-, 5-Year Terms)