Sentinel Security Life At a Glance: Rates, Products and Reviews

Headquartered in Utah and founded in 1948 by a group of funeral directors, Sentinel Security Life sells annuities and life insurance to customers in 36 states. It offers fixed, index and income annuities that may be customized through various riders at an additional cost.

Sentinel Security Life’s lineup of annuity products includes income, index and fixed annuities.

The Personal Choice Annuity is Sentinel Security Life’s fixed annuity with guarantee periods of three, five, seven or 10 years. You may choose from the available six riders, which vary by state and include:

There are four index annuities available through Sentinel Security Life.

With Personal Choice Plus+, you may customize your annuity through four interest crediting options (five-year fixed rate, annual point-to-point cap, monthly averaging cap and monthly sum cap) and four riders.

Accumulation Protector PlusSM offers a 10-year guarantee and exclusive access to the CS Momentum and CS ESG Macro 5 indexes. A Rate Enhancement Rider is also an option.

The Retirement Plus Multiplier® offers three surrender periods: five, seven or 10 years. There are two riders: the buy-up rider and a guaranteed lifetime withdrawal benefit. You may choose from the S&P 500 or the Goldman Sachs Aging of America Dynamic Balance Index.

Known by Sentinel Security Life as the “Ultimate Income Annuity,” the Summit Bonus IndexSM has an optional income rider, which can increase your 7% premium bonus to 15%. It also guarantees a roll-up rate of 7.25% for the first 10 years and includes a guaranteed lifetime withdrawal benefit rider.

Sentinel Security Life’s guaranteed income annuity is a deferred income product with a 2.75% minimum interest rate and penalty-free withdrawals of up to 10% of the account value after the first contract year. It also allows you to choose one of three optional riders.

Sentinel Security Life stands out for its highly customizable products. Its fixed, index and income annuities come with a variety of index options as well as riders that make it easy to create an investment that meets your unique retirement goals and preferences. The GLWB rider, for example, guarantees a certain amount of income for your lifetime, while the Legacy Benefit Rider is designed to leave an additional amount of money for your beneficiaries.

The interest rates of Sentinel Security Life’s annuities will dictate their performance. If you’re interested in the company’s annuity options, you can find interest rate information on its dedicated product pages and the current rates page. You may also contact Sentinel Security Life directly for the most updated interest rates. Remember that quoted rates may vary based on state and tax requirements.

Financial strength and stability are essential when choosing an insurance provider, as they directly impact the reliability of coverage and the security of investments. A strong financial foundation ensures that a company can meet its obligations to policyholders, even in challenging economic conditions. This stability fosters confidence, allowing customers to plan for the future with peace of mind, knowing their financial goals are supported by a dependable provider.

Originally named Sentinel Mutual Insurance Company, Sentinel Security Life Insurance Company has been in business for more than 70 years and serves customers in 36 states. It began to offer its first annuity product, the Personal Choice Annuity, in 2011. In 2023, the company sold over $1 billion in individual annuities, according to the National Association of Insurance Commissioners (NAIC). This figure accounts for nearly 0.30% of the annuity industry in the U.S.

The National Association of Insurance Commissioners’ (NAIC) Complaint Index provides a yearly report that measures client satisfaction in insurance and annuity industries. According to this complaint index there were two complaints related to Sentinel Security Life’s annuities in 2023, six complaints in 2022 and 13 in 2021. Sentinel Security Life was not part of the 2022 or 2023 editions of the J.D. Power Customer Satisfaction Index Ranking, which assesses the overall customer satisfaction of annuity companies.

When evaluating Sentinel Security Life annuities, it’s important to consider both the advantages and disadvantages. These financial products are designed to provide a reliable source of income and offer various features that can benefit policyholders. However, like any investment, they come with potential drawbacks. Understanding the pros and cons can help you make an informed decision that aligns with your financial goals.

Sentinel Security Life’s annuities can be tailored to achieve various retirement goals. It offers more riders than other annuity providers as well as unique features that may not be available elsewhere. However, the company’s lower financial stability ratings, high complaint score and limited presence are alarming and should be considered before committing to one of its products.

Editor Norah Layne contributed to this article.