SecureFore 7 fixed annuity gives clients options and flexibility for their saving objectives. Clients have a choice of a three- or five-year guaranteed rate schedule within a seven-year surrender charge duration.
However, clients may surrender the contract in any year after the guaranteed rate schedule expires with a “bailout” feature. The Surrender Charge Waiver allows penalty surrender if the renewal rate after the guaranteed rate schedule is less than the contractual “bailout” rate, set at issue. As a result, clients retain penalty-free options should interest rates drop below the "bailout" rate.