Oxford Life Select Series Annuity
The Select Series Annuity offers the same advantages of our current FIA offerings… guaranteed safety of principal, and providing consumers the opportunity to participate in the potential growth of the S&P 500 Index without subjecting their principal to market risk. The Select Series is available for 3-Year, 5-Year, 7-Year or 10-Year durations This policy does not participate
directly in any stock or equity investments. At the time of application, this product
also allows you to elect the optional Guaranteed Lifetime Withdrawal Benefit rider
designed to generate a higher level of guaranteed lifetime income. Issue ages for this product range from 18-80.
Oxford Life Select Series Annuity Policy Features
The highest caps offered by Oxford Life - earn more from market increases
- 3-Year, 5-Year, 7-Year or 10-Year durations
- Designed for long-term accumulation of funds and building retirement income
- Guaranteed Lifetime Withdrawal Benefit (GLWB) - for an additional annual fee of
only .95% of the accumulation value
- Income account accumulates at a rate of 6.75%1. The income account may not
be distributed as a lump sum and is only used to calculate the monthly GLWB payments
- Both single and joint payout options are available2
- Ability to start and stop income at any time3
- Access to your money:
- Waiver of withdrawal charges rider for terminal illness, home healthcare and nursing
- Penalty Free Interest Only Withdrawals during year one
- 10% Free Withdrawal Provision after year one
Select Series Fixed Indexed Annuity Surrender Charge Schedule
Surrender/withdrawal charges and a market value adjustment6 apply during
the first ten contract years. The early surrender/withdrawal charge is 10% in the
first year and reduces 1% each year thereafter. If you surrender or withdraw funds
from your annuity before the end of the tenth contract year, surrender/withdrawal
charges and a market value adjustment will not be applied in the following cases:
- 10% Free Withdrawal Provision after the first contract year
- Waiver of Surrender/Withdrawal Charges for5:
- Home Health Care Benefit
- Terminal Illness Benefit
- Nursing Home Benefit
1Income Account growth is used only for the purpose of calculating the
GLWB and is not available as a cash surrender or lump sum at any time.
2Joint Life Payout is based on the lives of the Owner and the Owner's
spouse who is the sole Beneficiary and is available only in this scenario.
3GLWB payments decrease the accumulation value on a dollar per dollar
basis. If you choose to stop GLWB payments, you cannot apply the amounts not received
to any future GLWB payments.
4Waiver of withdrawal charges rider not available in all states. Rider
benefits available for a qualifying condition first diagnosed after the first year.
There is also a 90 day elimination period. For policy details and qualifying event
see Oxford Life Insurance form DA520
5The market value adjustment feature is not available in all states.
A market value adjustment may reduce or increase the amount received from a withdrawal
or surrender. A withdrawal or surrender may result in a loss of principal and earnings
due to surrender charges and a market value adjustment.
Neither Oxford Life Insurance Company, its affiliates, nor any of its representatives
may provide tax or legal advice. Individuals should consult their tax advisor or
legal counsel for specific advice and information regarding their individual situation.The
Oxford Life Select™ annuity is issued by Oxford Life Insurance
Company. Oxford Life assumes the investment risk and guarantees payment, subject
to its claims-paying ability. Withdrawals and other distributions of taxable amounts,
including death benefit payouts, will be subject to ordinary income tax. If withdrawals
and other distributions are taken prior to age 59 1/2, a 10% federal tax penalty
may apply. Withdrawals will reduce the value of the death benefit. Oxford Life Insurance
Company is licensed to issue individual life insurance and annuity products in all
states except New York and Vermont. For use with Oxford Life policy forms FIA600,
GLWB210, DA520 and state-specific variations where applicable. Product not available
in all states. All guarantees made are that of Oxford Life Insurance Company. Not
a bank or credit union guarantee. Not FDIC/NCUA insured. Not insured by any federal
government agency. A comprehensive description of the policy benefits, costs, exclusions,
limitations and terms is available to you upon request. An investment in these contracts
is subject to possible loss of principal and earnings, since a surrender charge
and market value adjustment may apply to withdrawals or upon surrender of the contract.