Tuesday, July 20, 2010

State Life Annuity Care Interest Rate Change Notice

Questions call:  877-257-8246

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Interest Rate Notice:

 

Annuity Care®

  • Effective Sunday, August 1, 2010, Annuity Care's LTC Fund rate will be 3.55% and the Cash Fund Maximizer rate will be 3.00%


Annuity Care® II

  • Effective Sunday, August 1, 2010, the Annuity Care II LTC Accumulated Value interest rate will be 3.25% and the Accumulated Value rate (cash value) will be 3.10%

In addition, the interest rate lock that has been used on Legacy Care® will now be available for the Annuity Care products, effective with this change.

Interest rate lock will have the following impact based upon the method of funding:

  • Cash Transactions: We must receive all applications with full premium in the Home Office no later than Saturday, July 31, to preserve the current interest rate.*
  • Transfer/1035 Transactions: We must receive all applications with completed transfer or 1035 paperwork no later than Saturday, July 31.* All pending transfers or 1035s must be fully funded by Thursday, September 30, to preserve the current interest rate.

    *Note that no regular mail is received on Saturdays.

 

For company use and use with financial professional only. Not for public distribution.

Guarantees are subject to the claims paying ability of The State Life Insurance Company.
Annuity Care and Annuity Care® II are single premium deferred annuities, medically underwritten and issued by The State Life Insurance Company, Indianapolis, IN. They may credit additional interest to amounts withdrawn for qualifying long-term care expenses. State Life Policy Forms: SA34 and SA35. Not available in all states.

Products and financial services provided by The State Life Insurance Company

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