FIT Single Premium Deferred Annuities


FIT Single Premium Deferred Annuities eKit

FIT Single Premium Deferred Annuities (SPDA) and the Guaranteed Lifetime Income Rider (GLIR) help your clients grow and protect their retirement savings to be FIT – Financially Independent for Tomorrow.

Whether it's guarantees against losses due to market volatility1, flexibility, a lifetime of income or all of these, National Life's SPDAs offer custom financial solutions for retirement funded by a lump sum premium. SPDAs are especially effective for clients with:

Now meet a few model prospects for our three primary SPDA products below.

Solutions for a Financially Independent Tomorrow
Not available in NY



FIT Foundation
Susan: Age 76

Widow, Retired, 2 Adult Children
Current Savings: $250,000 | Primary Goal: Accumulation


Other Needs:
  • Guarantees against losses due to market volatility
  • Easy Access
  • Bequeath Assets to Her Kids
Susan is seeking a new place for assets from a maturing bank CD that will offer her higher interest potential and more flexible access (after 1 year). In addition she also wants to be able to pass assets onto children at after her death.

FIT Foundation:
  • 3% immediate bonus on accumulation value.
  • Premiums paid and interest earned not subject to market risk.
  • 10% penalty-free withdrawals beginning in year 2, as available by law.
  • Nursing care and terminal illness riders to help pay for unexpected expenses.
  • A death benefit that may not be subject to probate to expedite payment to heirs.

Brochure | Product Page



FIT Choice
Robert: Age 35

Advertising Manager, Single
Current Savings: $100,000 | Primary Goal: Avoiding Market Losses


Other Needs:
  • Accumulation
  • Flexibility in Income Strategies
Robert recently inherited some savings and wants to keep it safe while growing it over time, but he's not sure about his long-term income needs.

FIT Choice:
  • Choice between two Guaranteed Lifetime Income Riders (GLIR) (required), each with an Activation Bonus, to help optimize income potential.
  • Tax-deferred growth potential.
  • Choice of crediting strategies.
  • Premiums paid and interest earned not subject to market risk with 0% floor guarantees.

Brochure | Product Page



FIT Guaranteed Income
Jay: Age 57

Near Retirement, Married
Current Savings: $150,000 | Primary Goal: Predictable Income for Life


Other Needs:
  • Guarantees against losses due to market volatility
  • Accumulation
  • Easy Access
Jay had a late start on his retirement savings and wants to keep it safe, but he's worried about making the money last.

FIT Guaranteed Income:
  • A Bonus Guaranteed Lifetime Income Rider (GLIR) (required) to “kick start” income base with a 14% immediate bonus, followed by a 7% simple roll up rate until the earlier of income election or the 20th policy anniversary.
  • Tax-deferred growth potential, with a choice of crediting strategies – some linked to major indexes like the Russell 2000 and S&P 500.
  • Premiums paid and interest earned not subject to market risk with 0% floor guarantees.
  • 10% penalty-free withdrawals beginning in year 2, as available by law.

Brochure | Product Page



Crediting Options to FIT Different Needs:

A variety of choices widens client crediting options to help customize and adapt a growth strategy over time. Clients are free to allocate their values among the different index strategies at any time, within certain guidelines.

All the Point-to-Point strategies are credited based on the index change from the beginning to the end of the year, and are adjusted by either a Cap, Participation Rate or Threshold, depending on the option. Please see a description of each of the strategies below.

All are protected from market loss by a guaranteed 0% floor.



Our Interest Crediting Options

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. We offer a 0.25% minimum declared rate guarantee for this strategy.

Annual Point-to-Point S&P 500® and Russell 2000®
Strategies for which interest is credited based in part on the Annual Index Change in the S&P 500® or Russell 2000® from the Index Value at the beginning of the policy year to the Index Value at the end of the policy year.

Annual Point-to-Daily Average S&P 500®
Strategy for which interest is credited based in part on the Annual Index Change in the S&P 500 from the Index Value at the beginning of the policy year to the daily average of the Index Values during the policy 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. The guaranteed minimum monthly Cap for this index is 0.25%.

Single Premium Deferred Annuities Also Offer

Guaranteed Lifetime Income Rider (GLIR)

Available on FIT Guaranteed Income and FIT Choice only.

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.

GLIR is required, and on FIT Choice, clients must select either the Max Bonus GLIR or the Split Bonus GLIR at issue. The annual cost is 0.90% of Benefit Calculation Base, deducted from Accumulation Value.

Bonus GLIR (for FIT Guaranteed Income)

Bonus GLIR is designed to kick start retirement income with a 14% upfront bonus to the Benefit Calculation Base, which determines how much future lifetime income can be paid.

How it works

  • The Benefit Calculation Base (BCB) equals premium paid at issue and is increased by a bonus percentage.
  • The BCB rolls up at a 7% simple Rollup Rate in effect when premium is received for all rollup years until the earlier of election of income or the 20th policy anniversary.
  • At election of income, the BCB is multiplied by a Guaranteed Withdrawal Percentage based on the annuitant’s attained age to determine lifetime income.

Split Bonus GLIR (for FIT Choice)

Split Bonus GLIR provides the option to split the bonus between a one-time immediate interest credit at issue and a one-time activation bonus when the client is to start receiving income. For clients who want to boost Accumulation Value, the Split Bonus GLIR may be a good fit for them.

How it works

  • Policy must be in force 10 full policy years before income can be elected.
  • An Immediate Interest Credit is applied to the Accumulation Value of the Policy
  • At election of income, the Accumulation Value is multiplied by a Guaranteed Withdrawal Percentage based on their attained age to determine the base lifetime income.
  • Base lifetime income is multiplied by an Activation Bonus based on how long the policy has been in force to determine lifetime income.
  • Income may increase after the start of lifetime income based on indexed interest credits.

Max Bonus GLIR (for FIT Choice)

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 max income in retirement.

How it works

  • Policy must be in force 10 full policy years before Max Bonus GLIR can be elected
  • At election of income, the Accumulation Value is multiplied by a Guaranteed. Withdrawal Percentage based on attained age to determine the base lifetime income.
  • Base lifetime income is multiplied by an Activation Bonus based on how long the policy has been in force to determine lifetime income.
  • Income may increase after the start of lifetime income based on indexed interest credits.

Other Available Riders

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

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

Market Value Adjustment (MVA)

Not applicable in CA.
A Market Value Adjustment (MVA) is an upward or downward adjustment that may be applied to amounts withdrawn from an annuity in the first 10 Policy Years. The MVA applies to amounts withdrawn in excess of any Free Withdrawal Amount, even if the applicable Withdrawal Charge Percentage is zero. The MVA does not apply to any death benefit.
Please review product disclosures and specification pages for detailed information.

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

Not Available in NY.

More Resources

Monthly Sum Cap Flyer | Interest Rates | Training Webinar Calendar
Annuity Products At a Glance