Our Single Premium Deferred Annuities provide you with great rates and your principal is secure. For more information, call us at 800-628-6011 or schedule an appointment today!
| Single Premium |
5 Year Lock |
*7 Year Lock |
*10 Year Lock |
| $10,000 to $24,999 |
2.55% |
2.55% |
2.70% |
| $25,000 to $99,999 |
2.85% |
2.85% |
3.00% |
| $100,000 to $1,000,000 |
2.95% |
2.95% |
3.10%
|
*1% premium bonus for 7- and 10-year locks.
Effective: 4/1/2019
The Navy Mutual Single Premium Deferred Annuity (SPDA) is a fixed annuity that provides tax-deferred interest accumulation on a single lump-sum deposit between $10,000 and $1,000,000. The SPDA features a "lock-in period” option of 5, 7, or 10 years, with interest rates that are fixed for the duration of the lock-in. SPDAs pay better interest rates for longer lock-ins and higher premium amounts. When an annuity is purchased with a lock-in period of either seven or 10 years, Navy Mutual will add an automatic bonus 1% of your single premium contribution.
You cannot lose money with a Navy Mutual annuity. In addition to the return of premiums paid (less withdraws), the minimum guaranteed interest credited to the contract will be 1%.
After the SPDA has been in effect for one year, the owner may make annual withdrawals of up to 10% of the accumulated value (up to four withdrawals may be made each year without charge). Once the plan reaches the end of the lock-in period, the annuity owner can opt to continue the annuity or cash out the annuity in staggered payments or a lump sum. Earnings generated within a Navy Mutual SPDA do not create an income tax liability until payments are distributed from the annuity.
| Features |
SPDA |
| Minimum Single-Premium Deposit |
$10,000 |
| Maximum Single-Premium Deposit |
$1,000,000 |
| Surrender Charges |
None |
| Interest Rate Lock-in Periods |
5, 7 & 10 Years |
| Premium Bonus Available |
Yes, for 7 & 10-year Lock-in Periods |
| Market Value Adjustment |
Yes, for Lock-in Period |
Learn more about the Navy Mutual Single-Premium Deferred Annuity
If you have any questions about annuities, contact Navy Mutual today.