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MULTI-YEAR GUARANTEE ANNUITY Bankers Elite
Single Premium Deferred Annuity
Liberty Bankers Life Insurance Company Capitol Life Insurance Company LBIG-1022-CBE1
Why consider a Bankers Elite Annuity?
PLANNING FOR YOUR RETIREMENT You work hard for your money. Now, let us help your money work hard for you! We have industry- leading competitive rates, excellent service, and a history of solid performance upon which you can rely. We are committed to helping you make the most of your finances and showing you the steps toward a more secure future. Leading advisors proudly offer our guaranteed rate annuities! BANKERS ELITE Our BANKERS ELITE is a single premium deferred annuity with multiple interest rate guarantees to help meet numerous retirement needs. You can use it as an IRA or as an attractive alternative to CDs and other taxable vehicles. Contracts are available with an initial interest rate guarantee period of 3, 5, 7 and 9 years. Guaranteed interest is credited and compounded daily. Renewal feature is available at the end of the initial contract period. TAX DEFERRAL Our ELITE annuity earns a guaranteed interest rate for a specified term – tax-deferred. The advantage? Your savings grow faster than they would if your gains were taxed each year. In other words, you earn interest on your principal AND on money that would be paid in taxes if not for the benefit of income tax deferral. The longer you defer taxes, the better – especially if you expect to be in a lower tax bracket in retirement. AVOID MARKET RISK Your money is never subject to stock market risk. You pay no front-end sales charges or annual maintenance fees. 100% of your money is always earning interest for you. Bankers Elite annuities are issued by Liberty Bankers Life Insurance Company and Capitol Life Insurance Company, members of Liberty Bankers Insurance Group™ of companies (Dallas,Texas). Please refer to Policy Forms ICC17-Bankers Elite-0112 and Bankers Elite-0112, BankersElite-0612-CA, BankersElite-0112-FL-CP. Form numbers, features and availability may vary by state. Please visit with your professional advisor to determine which product may be suitable for your specific situation.
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Understand Your Policy Values
ACCUMULATED VALUE Your Accumulated Value is 100% of the premium paid and earned interest, less any partial withdrawals. There are no policy fees or charges. CASH SURRENDER VALUE BANKERS ELITE contains no permanent surrender charges or Market Value Adjustment (MVA). The Cash Surrender Value is the Accumulated Value less any applicable surrender charges and Market Value Adjustment (MVA). (See the attached BANKERS ELITE product disclosure.) All partial surrenders, except required minimum distributions from qualified retirement accounts, will be reduced by any applicable surrender charges and MVA during the surrender period. DEATH BENEFIT The Death Benefit is the Cash Surrender Value, unless the death benefit is paid under a Payout Option over a period of 5 years or longer or over the beneficiary’s life expectancy.*
* CA & FL residents, see page 5 for Death Benefit details.
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Consider Your Payout Options
AT THE END OF THE SELECTED TERM OF YOUR ANNUITY Your ELITE annuity account will be 100% liquid. There are NO automatic renewals of surrender charges for years into the future. You decide on the best time to withdraw your money. Without charges of any kind, at any time in the future, you may choose to: − KEEP funds totally liquid in your existing policy and continue earning guaranteed interest at a current rate, or − RENEW your existing policy for another Guarantee Period for the same length of time you selected when you initially purchased the contract, or − EXCHANGE your existing policy for any other deferred annuity plan we offer at the time and begin a new policy with current interest rate guarantees, or − WITHDRAW your funds. IS BANKERS ELITE FOR YOU? − $10,000 minimum premium − Available up to age 90 (depending upon term and some state-specific requirements) − Designed to accumulate money for retirement − Intended for persons who do not foresee needing to access funds during the contract period If you anticipate that you will need income from your account, we offer a full range of competitive annuity plans with greater liquidity features. Consistently, our rates are among the industry’s most competitive. Ask your agent about our complete line of products that may meet your specific needs now or in the future:
− Full-Featured Multi-Year Guaranteed Annuities − Flexible / Single Premium Income Annuities − Summit Fixed Indexed Annuities
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Bankers Elite Design Features Refer to Bankers Elite Disclosures and Policy Form for specific policy details. This brief summary outlines and compares the major product features. Ask your licensed professional for product details, current interest rates and applicable participation rates and cap rates.
Elite 3
Elite 5
Elite 7
Elite 9
Current Rate Guarantee
3 Years
5 Years
7 Years
9 Years
0-90 (0-75 IN CA & FL)
0-90 (0-75 IN CA & FL)
0-85 (0-70 IN CA & FL)
0-80 (0-65 IN CA & FL)
ISSUE AGES
At the end of the Initial Guarantee Period you select, you may renew your ELITE annuity for another Guarantee Period for the same length of time you selected when you initially purchased the contract. If you do nothing, the contract will continue otherwise unaffected until you provide us with written notice. Minimum 10,000 Amounts over $500,000 require prior company approval of Jumbo Questionnaire.
RENEWAL
PREMIUM LIMITS
Qualified or Non-Qualified Funds (not available as 403(b) or SIMPLE IRA) Qualified only in CO, ME, SD & WY
USE
GUARANTEED MINIMUM INTEREST RATE
The minimum rate is determined each policy year based on a formula using the five-year constant maturity treasury rate. The rate may not be less than 1% or more than 3%. Most suitable for those seeking higher rates; not needing liquidity, except Required Minimum Distributions (RMDs), during initial rate guarantee period and desiring full liquidity and control after surrender charges expire. No automatic renewal of surrender charges. Cash Surrender Value. Surviving spouses may elect to continue the policy as their own and avoid surrender charges. Non-spousal beneficiaries may reduce or avoid charges by deferring payment or taking a periodic income. CA Only: Death Benefit equals Accumulation Value for policies issued ages 65 and above. FL Only: Death Benefit equals Accumulation Value for policies issued at all ages.
SUITABILITY COMMENTS
DEATH BENEFIT (ANNUITANT/OWNER)
MAXIMUM WITHDRAWAL CHARGES (%)
7.9, 7.0, 6.2, 5.3, 4.4, 0
7.9, 7.0, 6.2, 5.3, 4.4, 3.5, 2.7, 0 7 Years No MVA in PA & MO
7.9, 7.0, 6.2, 5.3, 4.4, 3.5, 2.7, 1.8, 0.9, 0 9 Years No MVA in PA & MO
7.9, 7.0, 6.2, 0
MARKET VALUE ADJUSTMENT PENALTY FREE WITHDRAWALS HEALTH WAIVER BENEFITS
3 Years No MVA in PA & MO
5 Years No MVA in PA & MO
No Penalty Free Withdrawals during Surrender Charge Period, except Required Minimum Distributions (RMDs) after the first policy year. Thereafter 100% liquid.
None
Not FDIC Insured • Not Insured by any Federal Government Agency
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ABOUT LIBERTY BANKERS INSURANCE GROUP Liberty Bankers Insurance Group (LBIG) enjoys an excellent reputation in the industry. AM Best, the nation's most renowned insurance rating agency for the insurance industry, recognizes us among their top-tier of companies and has rated each of our companies "A- Excellent." Our careful and conservative investment strategies have resulted in steady growth and outstanding returns for policyholders like you. Based in Dallas, Texas, Liberty Bankers Insurance Group is comprised of Liberty Bankers Life Insurance Company (which began operations in 1958), Capitol Life Insurance Company (which began in 1905) and American Benefit Life (established in 1909 and purchased by LBIG in 2002) and operates nationwide. Our culture promotes prompt, courteous and accurate service, and defines how we work with our customers and with one another - honestly, with dignity and respect. This empowers us to build enduring relationships with our customers. Important: This publication is intended to be a general concept overview of our Bankers Elite single premium deferred annuities. It does not offer or guarantee any specific benefits or product features. For information about our products, please visit with your professional advisor who can help you select the product most suitable for your specific situation. Our multi-year guarantee fixed annuities are issued by Liberty Bankers Life Insurance Company and Capitol Life Insurance Company. They are not Federal Deposit Insurance Corporation insured and not insured by any Federal government agency. For use with contract forms ICC17-Bankers Elite-0112 and Bankers Elite-0112, BankersElite-0612- CA, BankersElite-0112-FL-CP and/or endorsement forms ICC20-CLIC-END-HW, ICC20-LBL-END-HW, 20-CLIC-END-HW, 20-CLIC-END-HW-FL, LBL-END-RENEW, ICC22-LBL-END-RENEW, CLIC-END-RENEW, ICC22-CLIC-END-RENEW. Not all products are available in all states. For information about your state, please contact Liberty Bankers Life/Capitol Life Insurance Company Annuity Marketing at 800-274-4829. This summary is part of a disclosure document provided in connection with your purchase of a Liberty Bankers Life/Capitol Life Insurance Company annuity. Liberty Bankers Life/Capitol Life Insurance Company Disclosure. The Company and its authorized representatives cannot offer tax or legal advice. For advice concerning your own situation, please consult with your professional advisor. Insurance products issued by Liberty Bankers Life Insurance Company and Capitol Life Insurance Company.
Home Office: 1605 LBJ Freeway, Suite 700, Dallas, TX 75234 Annuity Marketing Office: P.O. Box 22069, Waco, TX 76702-2069 800-274-4829
www.Lbig.com www.CapitolLife.com
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