SILAC is one of the nation’s premier annuity companies, boasting both national coverage and an extensive history. Since 1935 as Equitable Life and Casualty Insurance Company, this annuity provider specializes in fixed and indexed annuities which offer tax-deferred accumulation while saving for retirement, as well as lifetime income during withdrawal time. They also protect against major financial risks like market fluctuations and outliving your savings accounts.
The Vega, Denali, and Teton series all feature index-linked crediting strategies and principal-protected accumulation benefits that aim to help protect and grow your wealth over time with steady returns and steady accumulation benefits. They offer seven, 10 or 14 year contract terms as well as numerous optional rider features. The Denali SeriesTM offers lifetime income, providing a guaranteed minimum withdrawal benefit and annual floor protection that ensure you will never lose any of your accumulated value even in down markets. Meanwhile, Teton Series combines accumulation with income through crediting strategies which prioritize accumulation or allow investing in stock markets while locking in credited interest payments.
Additionally, they provide additional benefits that include terminal illness benefits, home health care recovery benefits and RMD withdrawals. Furthermore, the company offers a spousal continuation feature which allows their spouse to continue the contract after death – this feature makes this annuity particularly appealing to seniors looking for RMDs but want an annuity without early surrender charges or withdrawal fees that won’t penalise them with fees for early surrender or withdrawal fees.
SILAC faces several challenges that threaten its success, such as strong competition in key products, potential spread compression risks and overreliance on reinsurance. Current earnings are also compromised by high levels of interest rate risk; and it may be subject to concentration and key person risk.
SILAC’s ratings reflect its strong capitalization, favorable growth trends in capital, an experienced management team and minimal exposure to disintermediation risk. Furthermore, they remain committed to competitive annuity rates while expanding distribution with an emphasis on independent agents.
With an eye on senior market needs, SILAC provides an extensive portfolio of Medicare Supplement, Life, Short-Stay Nursing Home and Specified Disease insurance products. Their robust FIA product is also immensely popular with our agents out in the field; agents appreciate its simple indexed design, spousal continuation benefit and RMD friendly withdrawal options. To run an illustration simply log into SILAC agent portal and click “Run an Illustration” from their home page.