![]() This is burial insurance with no waiting period, so if medical eligibility is satisfied, full coverage takes effect immediately after a new policy is issued.ĭepending on the new insured’s age, limited pay whole life insurance is available and premiums can be scheduled to be payable until age 121 or to be fully paid-up in 10 years, 20 years, when the insured reaches age 65, or when the insured reaches age 85.Īccidental Death, Children’s Protection, and Waiver of Premium riders are available with New Vantage I. Sentinel Security’s application process includes three sections of health screening questions, all of which applicants for New Vantage I must pass. Sentinel Security’s New Vantage I policy provides cash value whole life, final-expense coverage in amounts between $1,000 and $35,000.Īpplicants can be up to 85 years old, though coverage amounts are limited for new insureds over 75. Life Insurance Policies Offered by Sentinel Security LifeĪlthough Sentinel Security offers an impressive variety of annuities, its life insurance offerings are limited to a single final expense product, with three variations.Īll three burial insurance policies for seniors are simplified-issue whole life policies, with fixed premiums, guaranteed-for-life coverage, and cash-value accumulation. Products Offered by Sentinel Security Life: In general, customer reviews of Sentinel Security are largely positive. Sentinel Security has been accredited by the Better Business Bureau since 1979 and currently scores an A+ rating from the BBB. However, Sentinel Security has consistently met its obligations, and it’s overall financial position is fairly secure. Financial-planning experts often recommend purchasing life insurance from companies with an A.M. Best is not top-tier, so there are plenty of life insurers with better financial ratings. ![]() The company holds about two-thirds of its assets in stable, investment-grade bonds and cash. Sentinel Security Life Financial RatingsĪs of the end of 2019, Sentinel Security had around $690 million in total assets and an annual net income of about $8.7 million. The company does business in most of the western states, but it’s reach is limited east of the Mississippi, particularly in the Northeast. Since its mid-20 th-century origin, Sentinel Security has achieved considerable growth by expanding its product lines, acquiring other insurers, and converting from a mutual company to a stock-issuing corporation.įrom its headquarters in Salt Lake City, Sentinel Security issues annuities and insurance policies through over 23,000 agents in 36 states. Then known as Sentinel Mutual Insurance Company, its original purpose was to provide final expense insurance to help surviving family members with burial and funeral costs for departed loved ones. Sentinel Security Life Insurance Company was formed in 1948 by a Utah-based group of funeral directors. Best, was founded in 1948, and has over $879 million in total assets.About Sentinel Security Life Insurance Company Sentinel Security Life Insurance Company is rated “B++” by A.M. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.ĭetails on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. This annuity also waives withdrawal penalties upon death. ![]() Beginning in the second contract year, this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year. The income payments cannot be outlived and your contract does not need to be annuitized.ĭuring the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. ![]() For complete details on index account options, including current cap and participation rates, please contact AnnuityAdvantage at 1.800.239.0356.Īn income rider is available that provides the option of activating a guaranteed lifetime income stream at a future date. You can also allocate your premium between various strategy and index account options. When your full premium deposit is allocated to the fixed interest account, the current first year yield (including bonus if applicable) is 4.50% (see Rate Details below). The Retirement Plus Multiplier 5 is a deferred fixed indexed annuity issued by Sentinel Security Life Insurance Company.
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