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Select Guarantee Annuity

You’ve worked very hard over the years to prepare for a comfortable retirement – so it’s important to consider the best ways to protect your assets and provide yourself with the most financial freedom. Select Guarantee Annuity balances flexibility with a guaranteed source of retirement income.

Client Profile
The Select Guarantee Annuity is for contract holders who want to be able to choose the length of the interest guarantee period.

Product Overview
The Select Guarantee (Single Premium Deferred) Annuity allows individuals to choose the length of the interest guarantee period: one, two, three, four, five, or seven years. Guaranteed interest rates will vary according to the length of the guarantee period selected. The shorter the guarantee period selected the higher the interest rate will be.

For all guarantee periods, there will be a one-percent first-year bonus. Following the first year, the initial rate less the one-percent bonus will be guaranteed for the remainder of the guarantee period.

Amount and Age Limits

The minimum single premium is $5,000 and the issue ages are 0-85 (0-80 in Pennsylvania).


New Money Interest Rates

The first-year new money interest rate for the Select Guarantee Annuity, including the 1% interest rate bonus*, will be:

Guarantee Period Guaranteed Interest Rate
(as of 07/28/2012 )
Nonguaranteed Interest Rate
(as of 05/01/2016)
1 Year 1.00% 2.40%
2 Years 1.00% 2.40%  



3 Years 1.00% 2.35%
4 Years 1.00% 2.25%   
5 Years 1.00% 2.20% 
7 Years 1.00% 2.00%  

*Currently, there is an interest rate bonus of 1% on the initial premium payment.


Surrender Charges

Surrender charges are assessed on funds withdrawn in excess of the 10% free amount described below. The surrender charge period is seven years. The surrender charge ranges from seven percent in year one to three percent in year seven. (Please note that surrender charges may vary by state.) There is no surrender charge following the seventh year.

Each year up to 10% of the annuity fund may be withdrawn without incurring a surrender charge. The annuity owner, may elect to receive systematic withdrawals of either the 10% free amount or interest earnings provided they are age 60 or older. The annuity fund must be $20,000 or more to receive systematic withdrawals of interest. However, this $20,000 annuity fund criterion does not apply to systematic withdrawals of the 10% free amount. Withdrawals from both tax-qualified and non-tax-qualified annuities before age 59½ may be subject to IRS tax penalties. All withdrawals – regardless of age – are subject to income tax on earnings.


The Select Guarantee Annuity offers tax-deferred cash-value growth, an interest rate that is guaranteed for the period (between one and five years or for seven years) you select, and a guaranteed retirement income. Get more information or contact our Client Relationship Center at 1.866.832.7719 to learn more.

Western & Southern Life does not provide tax or legal advice. Please contact your tax or legal advisor regarding your situation. The information provided is for educational purposes only.

The product information contained in is a summary of available benefits. The exact terms of the benefits and the applicable provisions and conditions are contained in the contract. Any contract contains terms under which it may be continued in force or discontinued. A contract may not be available in all states or may have different provisions in certain states.

Single Premium Deferred Annuity contract series 0407-5008-I WSA issued by Western-Southern Life Assurance Company.

Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY and RI.

Not for use in AK, ME, NH, NY, RI, VT, or outside the United States.


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Last Updated: 12/14/2017