SmartSelect Two
Western-Southern Life Assurance Company
10%
Free W/D
A single premium deferred annuity that locks in fixed interest rates for 3-7 years, grows tax-deferred, and provides guaranteed lifetime income options. Designed for investors seeking predictable growth, tax deferral, and income security in retirement.
Free Withdrawal
10%/yr
Available In
0 states
Min Premium
$20,000
Surrender
7 years
Key Features
Guaranteed Rate Options (GRO)
3-7 year terms availableFixed interest rates guaranteed for 3, 4, 5, 6, or 7-year periods with daily compounding. Rate locked in at purchase and guaranteed through the period.
Free Withdrawal Access
10% per contract year, $250 minimumWithdraw up to 10% of account value annually without surrender charges or market value adjustments
Tax-Deferred Growth
Growth faster than taxable alternatives at same rateInterest earnings accumulate without annual tax liability until withdrawal, accelerating account growth
Income Options
Lifetime income guaranteed by insurerConvert account to guaranteed lifetime income with period-certain or cash refund guarantees, single or joint
Market Value Adjustment (MVA)
Capped at MVA Maximum; doesn't apply last 30 days of GROProtects both insurer and owner by adjusting withdrawals based on interest rate changes since purchase—positive if rates fall, negative if rates rise
Death Benefit
Full account value paid directly to beneficiaryDesignated beneficiary receives full account value if owner dies during deferral period, bypassing probate
Renewal Flexibility
One renewal guaranteed; additional renewals may be availableChoose a new GRO at then-current rates or automatically roll to a 1-year renewal period with no surrender charges or MVA
Retirement Plan Eligibility
Multiple account structure optionsAvailable as traditional IRA, Roth IRA, SEP IRA, or qualified plan funding including rollovers
Highlights
Guaranteed interest rates for 3-7 year periods with a guaranteed minimum interest rate floor
Access up to 10% of account value annually penalty-free for liquidity without sacrificing growth
Tax-deferred growth with flexible income options including lifetime payments with period-certain guarantees
Market value adjustment protects against interest rate risk while allowing early access if needed
Available as traditional, Roth, SEP IRA, or qualified plan funding with death benefit protection
Surrender Schedule
Yr 1
7%
Yr 2
7%
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
Best For
Investors seeking guaranteed returns, tax deferral, and eventual guaranteed income who can commit funds for 3-7 years and are comfortable with interest-rate-sensitive adjustments on early withdrawals.
Consider Alternatives If
Those needing immediate liquidity or who may need more than 10% annual access without charges, or investors seeking market-based growth potential.
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