Select Choice Plus
S.USA Life Insurance Company, Inc.
5%
7-yr guarantee
10%
Free W/D
44
Jurisdictions
Live product data
Rates as of June 6, 2026, based on the latest AdvisorWorld scan of CANNEX data.
Lead-term guaranteed rate
5% guaranteed for 7 years
A multi-year guaranteed annuity from S.USA Life Insurance Company (A.M. Best A-) offering flat declared rates at 3-, 4-, 5-, and 7-year terms with a 7-year declining surrender ladder, premium-band-tiered rates, and three surrender-charge waivers (nursing-home, terminal-illness, RMD) — available in 44 jurisdictions.
Best fit
Buyers in the 44 listed jurisdictions who want a flat, contractually guaranteed rate locked in for 3, 4, 5, or 7 years, value nursing-home and terminal-illness surrender waivers alongside the RMD waiver, and can plan around the 7-year surrender ladder.
AM Best
A- Excellent
Surrender period
7 years
Free withdrawal
10%/yr
Availability
44 jurisdictions
Product analyst notes
How to think about this contract
Why it can stand out
- Four guarantee-period choices (3, 4, 5, and 7 years) are filed under the same product — one more term option than the sibling Select Choice — so a buyer can match the term length precisely to a defined planning horizon. The rate-by-term table on this page shows the term-versus-yield trade-off directly.
- Surrender schedule is a 7-year declining ladder that ends in the same year the 7-year guarantee period ends, so the lock-up window matches the contract's longest fixed-rate promise rather than extending beyond it.
- Surrender liquidity is supported by three waivers — nursing-home, terminal-illness, and RMD — a fuller waiver set than the sibling Select Choice (which carries only the RMD waiver). The 'Plus' nomenclature here corresponds to a real upgrade in penalty-free liquidity rules.
- Rates are tiered by premium band — the live feed publishes separate rate ladders for smaller deposits and larger deposits, so the contract rewards committed capital at every term.
- Backed by S.USA Life Insurance Company at A.M. Best A- (Excellent) — published on the page rather than left unstated.
What to confirm
- This filing is state-restricted — the live feed lists 44 jurisdictions and the contract is not available everywhere. Buyers in New Hampshire or New York need a different filing from the same carrier; buyers outside both lists need a MYGA from a different carrier. Confirm state of issue before relying on this contract in a plan.
- Posted guaranteed rates on this page assume a specific premium and issue-age scenario; the underlying rate schedule shows multiple rate tiers per term, so deposits in lower premium bands earn lower guaranteed rates than the headline. Verify the rate for the actual deposit size with the carrier before signing.
- Surrender charges run a full 7 years — an unplanned early exit beyond the annual free-withdrawal allowance and outside the three waivers (nursing-home, terminal-illness, RMD) carries a real cost. This is a multi-year commitment, not a short-term cash equivalent.
- Carrier financial strength is rated A- by A.M. Best — solid but a notch below the A / A+ ratings several larger MYGA carriers carry. Buyers who prioritize the highest-tier financial strength view should weigh that against the rate and waiver package on offer.
- Posted declared rates on this filing read lower at the headline tier than on the sibling Select Choice — the carrier is funding the broader term menu and the fuller waiver package out of strategy economics, so the 'Plus' upgrade carries a measurable rate trade-off.
Not ideal for
Buyers outside the 44 listed jurisdictions (a separate Select Choice Plus filing covers New Hampshire and New York), buyers who want the highest possible declared rate on the carrier's lineup (the sibling Select Choice posts higher rates in exchange for fewer waivers), who need a 10-year fixed-rate horizon, who need a stepped-up or rollup-enhanced death benefit, who expect a guaranteed-lifetime-withdrawal rider, or who want market-linked upside through index crediting.
Guaranteed Rates by Term
| Term | Guaranteed Rate |
|---|---|
| 3-Year | 4.55% |
| 4-Year | 4.55% |
| 5-Year | 4.85% |
| 7-Year | 5% |
Key Features
Surrender waivers
3Nursing home waiver, RMD waiver, Terminal illness waiver
Death benefit
Death BenefitBeneficiary value depends on contract terms, withdrawals, and rider elections.
Annuitization options
Single lifeContract conversion options should be confirmed before purchase.
Fund types
Non-qualified, QualifiedAvailability can vary by state and product terms.
Surrender Schedule
Yr 1
9%
Yr 2
8%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
After
0%
Nursing home waiver, RMD waiver, Terminal illness waiver, Surrender waivers
Carrier Ratings
Free Comparison Report
Get a personalized Select Choice Plus illustration
See year-by-year projections for your specific age, premium, and income goals.