TopRidge can help clients catch-up and safely grow retirement assets with greater flexibility and a diversified set of index accounts
Topeka, Kan. – September 30, 2024 – Security Benefit Life Insurance Company (Security Benefit) today introduced the TopRidge Bonus Annuity that delivers a combination of a 20% premium bonus, a broad set of index crediting strategies, and a cumulative withdrawal option. The TopRidge bonus applies on all premiums received within the first year of the contract.
“We are excited to offer the new TopRidge Bonus Annuity which is packed with features to help financial professionals jumpstart the accumulation potential of clients’ retirement assets, and also offers flexibility in how clients can access their funds via the cumulative free withdrawal rider,” said Justin Jacquinot, Head of IMO & RIA Distribution at Security Benefit.
The Cumulative Free Withdrawal Rider with Rider Charge Refund allows clients to withdraw up to 30% of their total premiums without charges or penalties. If a client does not take the 10% free withdrawal (excluding the bonus), it starts to roll up the following year to a maximum of 30% for any 3-year contract period. The free withdrawals are made without a surrender charge, bonus recapture, or market value adjustment (MVA). If a partial amount of the free withdrawal is taken, the remaining amount cannot to be carried over, however, the Cumulative Free Withdrawal will restart in subsequent contract years.
TopRidge has a broad set of index crediting strategies covering various equity asset classes from large- and small-cap to technology and international, to provide a diverse array of allocation options. “The range of indices allows clients to select crediting strategies within the product that align with their assessment of market conditions,” added Jacquinot.
The indices include:
The S&P 500® is a stock market index tracking the performance of 500 large companies listed on stock exchanges in the United States. The Index is a price return index (does not include dividends). It is one of the most commonly followed equity indices.
The NASDAQ-100® Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Exchange based on market capitalization. The Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology. It does not include securities of financial companies including investment companies.
The MSCI EAFE Index is an equity index which captures large and mid-cap representation across 21 Developed Markets countries around the world, excluding the US and Canada. The index covers approximately 85% of the free float-adjusted market capitalization in each country.
The Russell 2000® Index measures the performance of the small-cap segment of the US equity universe. The Russell 2000® Index is a subset of the Russell 3000® Index representing approximately 7% of the total market capitalization of that index, as of the most recent reconstitution. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000 is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set.
The S&P 500® Dynamic Intraday TCA Index aims to provide exposure to the S&P 500® through the use of E-mini S&P 500 futures, while applying an intraday volatility control and trend-following mechanism. The index rebalances up to 13 times daily using a time-weighted average price.
The Morgan Stanley Global Equity Allocator Index provides exposure to global equities by employing a momentum-based allocation. Targeting a 10% realized volatility, the Index adjusts exposure to U.S. equities intraday while adjusting all other allocations end of day. A variable index deduction factor is deducted daily from the Index’s performance.
The Societe Generale AI Navigator Index utilizes an innovative natural language processing algorithm to analyze the quarterly earnings calls of the largest US companies to select those which have the best perceived outlook based on a sentiment score. The Index portfolio is comprised of approximately 100 stocks, including those with the most positive sentiment determined by the algorithm. To limit drawdown during volatile periods, the Index actively monitors market sentiment and adjusts its net equity exposure daily by taking a tactical short position in the SPDR S&P 500 ETF. The Index includes an enhanced volatility control mechanism that aims to keep volatility near 8%.
The MSCI BofA U.S. Dualcast Index applies real-time economic data estimates with an aim to select assets ahead of the curve. With AI technology advancement in analyzing big data, MSCI’s data partner QuantCube provides daily U.S. GDP growth and inflation estimates, up to 3 months ahead of official releases. MSCI collaborated with Bank of America and QuantCube Technology to develop this innovative index. It is designed to adapt to the current economic regime by allocating to index components that represent 5 asset classes: U.S. equities, U.S. Treasuries, Gold, Industrial Metals, and a currency basket that aims to represent the international value of the U.S. dollar. The index rebalances daily to target a volatility of 8%.
Offered through Security Benefit’s exclusive distribution group of select IMOs, financial professionals can visit www.sbelitepartners.com to learn more about the TopRidge Bonus Annuity and how it can help their clients protect and accumulate retirement assets.
About Security Benefit
Security Benefit Life Holdings (“Security Benefit”), through its subsidiary Security Benefit Life Insurance Company (SBLIC), a Kansas-domiciled insurance company that has been in business for more than 132 years, is a leader in the U.S. retirement market. Security Benefit together with its affiliates offers products in a full range of retirement markets and wealth segments for employers and individuals and held $52.8 billion in assets under management as of June 30, 2024. Security Benefit, an Eldridge business, continues its mission of helping Americans To and Through Retirement®. Learn more at www.securitybenefit.com and follow us on LinkedIn, Facebook, or X (formerly Twitter).
