National Life FIT Retirement

FIT Flexible Premium Indexed Annuities

Help your customers be Financially Independent for Tomorrow by offering them MORE:

MORE Upside: Tax-deferred interest crediting potential, 0% floor guarantees1 and a wide selection of index strategies to benefit and protect from market conditions.

MORE Liquidity: A free withdrawal feature in years 2+2 and, for 403(b) and 457(b) policies, an emergency access waiver with no charges or MVA.

MORE Options: Two new, exclusive low-volatility index strategies provide clients with more choices among low-volatility crediting methods.

Solutions Tailored to Consumer Needs
Not Available in NY

Whether they want to self-distribute or prefer a guaranteed income stream, your clients can find the best FIT for their short- and long-term accumulation and income needs.

FIT Secure Growth

FIT Secure Growth Persona

Maximum upside interest crediting potential for long-term accumulation objectives

Meets the desire for growth and protection of hard-earned savings with the flexibility to self-distribute down the road.

View Brochure |  Visit Product Page

Barbara, Age: 38

Current Savings: $50,000  |  Monthly Savings: $200

FIT Select Income

FIT Select Income Persona

Choice between maximum potential income focus or balance of accumulation and income focus

Addresses combined goals of saving more now while providing the potential for increasing future income, then locking in any increases.

View Brochure |  Visit Product Page

Wade, Age: 35

Current Savings: None  |  Monthly Savings: $400

More Crediting Methods with More Potential

FIT Retirement Series offers many indexing choices to widen your customers’ crediting options as their needs change over time. The US Fundamental Balanced Index and Global Balanced Index are exclusive to National Life Group, and all offer the downside protection of a 0% floor guarantee. We also offer Annual Point-to-Point with Cap and Declared Rate strategies.

All, except for the Annual Monthly Sum Cap S&P 500 Index (see below), are credited based on the index change from the beginning to the end of the year, and are adjusted by either a Cap or Participation Rate, depending on the index. Moreover, customers are free to allocate their values among the different index strategies at any time, within certain guidelines.

Our Interest Crediting Options

US Fundamental Balanced Index

Annual Point to Point with a Participation Rate

Seeks to optimize volatility through a blend of US Equities, US Treasuries and Cash. The US Fundamental Balanced Index aims to capture the low volatility premium within US Equities. The asset classes are rebalanced daily to optimize risk and the mix of US Equities is revised quarterly. Created and owned by PIMCO.


Global Balanced Index

Annual Point to Point with a Participation Rate

Seeks to optimize volatility through a blend of Global Equities, Bonds and Commodity Sectors. The composition of the Global Balanced Index is rebalanced monthly based on the SG Sentiment Indicator which examines six cross asset indicators for expansion and contraction. The overall allocation is reviewed daily to optimize volatility. Created and owned by Societe Generale.


Annual Point-to-Point S&P 500 Index

This index tracks the performance of the S&P 500 Index, the world’s leading benchmark comprised of 500 leading companies based on market capitalization.

  • The Cap is determined at the start of the account year.

Annual Monthly Sum Cap S&P 500

This index also tracks the world’s premier equities benchmark, but its credit is calculated based in part on the 12 monthly changes in the index during the year. Unlike the point-to-point crediting method, we apply the Cap to each monthly change, then total the 12 months (both positive and negative) to determine the credited amount.

  • This crediting method offers strong interest potential during market upturns.
  • The Cap is determined at the start of the account year.

Declared Crediting Strategy

A basic yet effective indexing approach, in which interest is credited daily at a declared effective annual rate that we set at the start of each one-year crediting period.

Additional Benefits

Rate Booster  

The optional Rate Booster strategies provide greater interest crediting potential and are available on all indexed crediting options. Policyholders may:

  • Allocate between the boosted and non-boosted strategies. Reallocate annually into or out of boosted strategies.
  • Only funds allocated to Rate Booster strategies pay a 1% annual charge deducted from its Accumulation Value and rates are subject to change.

Guaranteed Lifetime Income Rider (GLIR) – FIT Select Income 

The GLIR rider ensures that customers have the option to receive retirement income that they can never outlive, while leaving them in control of their remaining accumulation value.

FIT Select Income clients must select either the Max Bonus GLIR or the Split Bonus GLIR at issue. The annual cost is 1% of the Accumulation Value.

The rider not available on FIT Secure Growth.

Max Bonus GLIR

Max Bonus GLIR provides a one-time Activation Bonus that scales up payments when the client is ready to start receiving income – raising the amount received. Max Bonus GLIR may be best for those focused on receiving the maximum income in retirement.

How it works:

Policy must be in force 1 full policy years before Max Bonus GLIR can be elected At election of income, the Accumulation Value is an activation bonus, based on how long the policy has been in force, then by the Guaranteed Withdrawal Percentage based on the annuitants current age.

This GLIR has a 1% annual charge.

Split Bonus GLIR

Split Bonus GLIR provides the option to split the bonus between 5% Immediate Interest Credits on premiums received in the first 8 policy years and a one-time Activation Bonus when the client is to start receiving income. For clients who want to boost Accumulation Value (AV) and have a competitive income in retirement, the Split Bonus GLIR may be a good fit for them.

How it works:

  • Policy must be in force 1 full policy year before income can be elected.
  • An Immediate Interest Credit is applied to the AV of the Policy
  • At election of income, the accumulation value is multiplied by an activation bonus, based on how long the policy has been in force, then by the Guaranteed Withdrawal Percentage based on the annuitants current age.
  • This GLIR has a 1% annual charge.

GLIR Income Doubler – FIT Select Income (not available in CA) 

Activities of Daily Living
1. Bathing
2. Toileting
3. Transferring
4. Dressing
5. Continence
6. Eating

The GLIR Income Doubler doubles lifetime income for up to 5 years when it is needed most.

To qualify for the Income Doubler, the annuitant must be unable to perform two of six Activities of Daily Living permanently, and

  • Policy must be in force for at least 2 years.
  • Policy Accumulation Value is greater than zero.
  • Income is elected on single life.
  • No Excess Withdrawals taken in current policy year.
  • Annuitant resides in United States.

When these requirements are met, annuitant income is doubled until the earlier of 5 years since Doubler activation, or the depletion of Accumulation Value.

GLIR Increasing Income Option – FIT Select Income  

The Increasing Income Option allows for annual income increases as a hedge against inflation.

Level
Income is received at a level rate for life.

Increasing
The initial income is less than level income, due to the Guaranteed Withdrawal Percentage being 1% lower at all ages.

  • Income increases by 2.5% compounding until the Accumulation Value is depleted.
  • After depletion income remains at highest level thereafter.*

*Assuming no excess withdrawals.

Emergency Access Waiver - No Cost within 403(b) and 457(b) Plans

The FIT Retirement Series Emergency Access Waiver is available after the first policy year to use after an unforeseen hardship, such as a medical emergency, or after a separation from service or disability.

Here's how it works:

  • For TPA-approved hardship or unforeseen emergency distributions payable to the annuitant, beginning in the second policy year the waiver forgives all withdrawal charges and Market Value Adjustment.
  • For separations or disability distribution payable to the annuitant, withdrawal charges and MVA are waived on:
    • 20% of accumulated value in years 2-4
    • 100% of accumulated value in years 5+
  • Policy must be in 403(b) or 457(b) status.

Keep in mind, any distributions are subject to federal income taxes and, if applicable, a 10% early distribution penalty.

Additional Riders Included at No Cost (subject to state availability)  

The following riders are available at no additional cost in states where approved.

Nursing Care - Gives clients peace of mind that they will have access to a portion of savings without surrender charges in the case of a qualifying event.

Not available in: CA, IL, LA, MA, MT, NH, NJ, SC, SD, WA, WV, WI. See policy for qualification and limitations.

Terminal Illness Benefit - Eliminates withdrawal charges for the annuitant on one withdrawal if the policy has been in force longer than one year at the onset of the terminal illness, from which the client is physician-certified to have 12 months or fewer live.

Not available in: CA, IL, LA, MA, MO, MT, NH, NJ, OR, PA, UT, WV, WI. See policy for qualification and limitations.

Flexible Contribution Options  

Easy funding choices can help FIT Retirement Series customers go with the flow. Regularly scheduled contributions can be a low as $100 a month, using either payroll deduction or bank drafts. Or, clients can start a policy with a single premium of $5,000 or more and add additional money down the road.

Non-Qualified Strategies Too  

The FIT Retirement Series products can be used as part of a non-qualified annuity to help supplement a retirement income strategy. Among other things, non-qualified annuities offer your clients:

  • Higher contribution amounts compared to most qualified products.3
  • Tax-free income on original post-tax contributions.4
  • Freedom from restrictions due to having other plans or products, as well as no RMDs5 nor 10% early distribution penalties on original investment amounts.
  • More distribution options for non-spousal beneficiaries.

Before you Sell

Make sure you are ready to sell these new products by completing your required training:

1.  Log into your National Life Group portal

2.  Hover over Training/Product, and choose Annuity

3.  Once on the annuity screen, select Products Training

4.  On the Products Training page, review the Indexed Annuity Product link

5.  Attest you reviewed the information

The FIT Retirement Series is not available in NY.

More Resources

Monthly Sum Cap Flyer |  Interest Rates |  Training Webinar Calendar 

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FIT Retirement Series gives you MORE