SmartSelect
Western-Southern Life Assurance Company
10%
Free W/D
SmartSelect is a single-premium deferred annuity that locks in guaranteed interest rates for 3-7 years while allowing tax-deferred growth and penalty-free annual withdrawals. It's designed for individuals who want safety and predictability while saving for retirement.
Free Withdrawal
10%/yr
Available In
0 states
Min Premium
$20,000
Surrender
7 years
Key Features
Guaranteed Rate Options (GRO)
3-7 year choices with guaranteed ratesLock in a fixed interest rate for 3, 4, 5, 6, or 7 years. At the end, renew at current rates or move to a 1-year period.
Tax-Deferred Growth
No current income tax on earningsInterest earnings are not taxed until you withdraw them, allowing faster accumulation than taxable alternatives.
Free Withdrawals
10% per year, $250 minimumWithdraw up to 10% of account value annually without surrender charges or market value adjustments.
Market Value Adjustment (MVA)
Applied to withdrawals beyond free amountProtects both parties when interest rates change; can increase or decrease your withdrawal value based on rate movements.
Income Guarantees
Lifetime payments with 10-year period certain or cash refund optionConvert to lifetime income with period-certain or cash refund guarantees backed by the insurer.
Death Benefit
Account value paid to beneficiaryDesignated beneficiary receives account value without probate if owner dies during deferral period.
Minimum Premium
$20,000Low entry point for deferred annuities.
Highlights
Guaranteed interest rates for 3-7 year periods with tax-deferred growth
Up to 10% penalty-free withdrawals each year for financial flexibility
Market value adjustment protects both you and the insurer from interest rate changes
Multiple income options at retirement including lifetime guarantees with period certain
Surrender Schedule
Yr 1
7%
Yr 2
7%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
After
0%
Nursing home waiver, RMD waiver, Terminal illness waiver
Best For
Investors age 0-85 seeking guaranteed returns, tax deferral, and predictable income in retirement who can commit funds for 3-7 years and want flexibility for emergencies.
Consider Alternatives If
Those needing immediate access to all funds without any restrictions, as early full withdrawals trigger surrender charges and market value adjustments.
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