Index Select Annuity


A Deferred Annuity That Offers S&P 500® Growth With Competitive Rate Caps

The Index Select Annuity is a single-premium, deferred indexed annuity designed to reflect the performance of the Standard & Poor's IndexTM and has the highest cap rates offered by The Standard. Your clients will participate in 100 percent of the growth of the index up to the pre-specified cap rate and at the same time they are protected from downturns.

A Combination of Fixed- and Indexed-Rate Accounts

This annuity offers a fixed interest account and an index interest account with an annual, point-to-point index term. At the end of the index term, your client benefits from competitive renewal caps and fixed interest crediting rates based on the current interest rate environment and current market conditions. The minimum premium requirement is $15,000 and we offer an increased cap rate for deposits of $100,000 or more. 

Choice of Surrender Periods With Flexible Withdrawal Options

There is a choice of a five-, seven- or nine-year surrender charge period and the contract offers a variety of ways for your client to access funds before the end of the surrender charge period without paying a surrender charge. In addition, there is no window at the end of the surrender charge period, during which time owners are generally required to make a decision prior to a restart of surrender charges.

Target Clients

An index annuity is designed to capitalize on positive economic conditions, and returns may exceed returns of traditional fixed deferred annuity products.

This annuity is also an excellent way to enhance your client’s retirement-savings plan and can be used to fund 403(b) TSAs, IRAs and SEPs.

  • Index interest account
    • Annual, point-to-point index term
    • 100% participation rate in S&P 500® to index rate cap
  • Fixed interest account
    • First-year rate guarantee
    • Interest is credited daily
  • $15,000 to $1,000,000 initial premium (higher amounts may be permitted with prior home-office approval)
  • Issue age
    • ISA 5 issues to age 931
    • ISA 7 issues to age 90
    • ISA 10 issues to age 80
  • Joint-owner and annuitant available
  • 45-day rate lock
  • Choice of surrender-charge period
    • Index Select Annuity 5 (7%, 6%, 5%, 4%, 2%)
    • Index Select Annuity 7 (7%, 6%, 5%, 4%, 3%, 2%, 1%)
    • Index Select Annuity 10 (8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 0.09%)
    • No automatic surrender reset
  • Guaranteed Minimum Accumulation Benefit (GMAB)
  • Market value adjustment (MVA)
    • Index Select Annuity 5: Five-year MVA
    • Index Select Annuity 7: Seven-year MVA
    • Index Select Annuity 10: Ten-year MVA
  • Surrender-charge-free withdrawal options
    • If surrender charges are waived, so is the MVA.
    • 10% annual withdrawals (beginning after the first contract year)
    • Nursing home waiver with partial index credit
    • Terminal condition waiver with partial index credit (not available in Connecticut)
    • Death benefit with partial index credit
    • Annuitization with partial index credit (Not available in Iowa for ISA 10)
    • IRS required minimum distributions
  • No annual contract fees


1 The purchase of the annuity for those age 91-93 must be for transfer-of-wealth or estate-planning purposes.


Participation Rate of 100 Percent

The amount held in the Index Interest Account will participate in 100 percent of the growth of the S&P 500® index up to the pre-specified rate cap. 

Partial Index Crediting

Some mid-index-term distributions events (nursing home, terminal condition, annuitization and death benefits) will receive a partial index credit if there were index gains. 

45-Day Rate Lock

A rate lock allows 45 days from the time a request for a rollover, transfer or exchange is received in the home office. If funds are received within the 45-day window, your client will receive either the held rate or the current rate, whichever is greater.

Guaranteed Minimum Accumulation Benefit

At the beginning of the index term that follows the end of the Marketing Value Adjustment (MVA) period, the annuity fund value is assured to reach the guaranteed minimum accumulation value, which is 105%, 107% and 110% of original premium (net of withdrawals and applicable surrender charges) for the ISA 5, ISA 7 and ISA 10 respectively.

Market Value Adjustment Feature

The Market Value Adjustment (MVA) is a key design feature that helps optimize the growth potential of the contract over the long term. The presence of an MVA helps protect the insurance company and thus allows for optimized index cap rates.