A two-Tiered Annuity contains an interest rate component credited to the annuity during the accumulation period that is competitive with comparable non-two-tiered plans, and benefits are conditional on annuitization. If the owner does not maintain the policy, they will be charged a Surrender Charge. They will be retroactively credited with lower interest rates dating back to the beginning of the contract. In this case, the contract owner would receive one tier of interest rates by staying with the contract through annuitization and another, the lower tier of rates if they do not). On Two-Tiered Annuities, it’s a good idea to compare the annuitization rates with the rates during the accumulation phase.

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