ING / Voya / Venerable – Secure Index Opportunities Plus – Retired Annuity
The Secure Index Opportunities Plus is a 10-year indexed annuity. The Secure Index Opportunities Plus was a very popular annuity from around 2006 to 2015. It offered a 5.00% bonus and competitive rates. You could attach a lifetime income rider or choose to annuitize the contract giving you the ability to create a pension with the available account value. Owners of the annuity may have seen the company name change on the statements over time from ING, to Voya, and finally to Venerable. The Secure Index Opportunities Plus is no longer available to purchase. If you own one of these contracts it may be time to find a new option. There are hundreds of new options that offer higher rates and pension style income for the rest of your life. Please feel free to reach out to Dyers Group for new options and a full review.
Venerable Secure Index Opportunities Plus Product Stats
- Kroll Bond Rating Agency (KBRA) A-
- Index Annuity
- 10 Year Duration
- Single Premium
- Minimum Premium $15,000
- Premium Bonus: 5%
- Free Withdrawals: 10% Annually – Starting from Year 2
Terminal Illness Waiver: Yes
The surrender charge is waived if the owner is diagnosed with a terminal illness (life expectancy
of 12 months or less) on or after the first contract anniversary. (Not available in all states.) A market value adjustment and bonus recapture is applied.
Nursing Home Waiver: Yes
The surrender charge is waived if the owner becomes hospitalized or confined to an eligible nursing home for at least 45 days during any continuous 60-day period on or after the first contract anniversary. (Not available in all states.) A market value adjustment and bonus recapture are applied.
Surrender Charges:
Year 1: 10%
Year 2: 10%
Year 3: 10%
Year 4: 10%
Year 5: 9%
Year 6: 8%
Year 7: 7%
Year 8: 6%
Year 9: 5%
Year 10: 4%
Bonus Recapture:
Year 1: 100%
Year 2: 100%
Year 3: 80%
Year 4: 80%
Year 5: 60%
Year 6: 60%
Year 7: 40%
Year 8: 40%
Year 9: 20%
Year 10: 20%
