Retirement Stages 7®
Retirement Stages 7® is a fixed index annuity that offers growth potential, principal protection to help you reach your retirement goals.

This chart is a hypothetical representation of fixed index annuity growth under varying market/index conditions and is not meant to represent the performance of any Delaware Life fixed index annuity (FIA) product. It does not reflect any potential withdrawals or associated surrender charges. Interest credited to a FIA is subject to caps, spreads and/or participation rates that affect the proportion of index gains the annuity captures. Account value is the sum of all premiums, plus accumulated interest, and minus the amount of any withdrawals. This is not a guarantee of performance and does not predict performance. Annuities do not participate directly in the stock market or any index. They are insurance products designed to help you prepare for the future.
Like all our fixed index annuities (FIAs), Retirement Stages 7® offers growth potential and principal protection—plus a choice of income options when you’re ready to retire.
Ways to grow your savings: fixed account option and/or index-linked option(s)
Fixed rate
Payments allocated to this option will be credited with a fixed interest rate that is specified on the date the contract is effective. Each year, Delaware Life will declare new interest rates to reflect current conditions, but never less than a minimum guaranteed rate. If you want more certainty about the amount of interest that will be credited to your account value, this may be the choice for you.
Morgan Stanley Global Opportunities Index
This index uses a rules-based, multi-asset strategy and a trend-following methodology to make allocations to global equities, interest rates and commodities. This approach is intended to diversify risk and balance exposure to various market risk factors to reduce the portfolio’s natural volatility. The index is managed to a 5% target volatility over the long term and may also include a cash allocation to reduce overall volatility.
Watch a video about the Morgan Stanley Global Opportunities Index
S&P 500®
The S&P 500® Index option may be a good choice for those who want to earn interest based on the performance of a range of large U.S. businesses. The index is widely regarded as a premier benchmark for the domestic stock market. It contains stocks from 500 leading companies in various industries.
First Trust Capital Strength® Barclays 5% Index
The First Trust Capital Strength® Barclays 5% Index creates a diversified portfolio by combining U.S. stocks selected based on capital strength methodology with a portfolio of four Barclays U.S. Treasury futures indexes. The index seeks to enhance return and manage risk exposure by adjusting the portfolio’s asset allocation on a monthly basis using techniques from modern portfolio theory. It aims to maintain an annual volatility level at or below 5%, using a procedure called volatility control, to further control risk.
Ways to access your income:
Bailout
Retirement Stages 7® includes a “bailout” benefit. The bailout provision allows you to withdraw the entire contract value of the annuity, without a surrender charge or market value adjustment, if the renewal cap for the 1-year point-to-point S&P 500® Index falls below the contract's issue cap rate, which is is declared at contract issue and will not change during the life of the contract. No allocation to the S&P 500® Index is required to receive the bailout protection.
The 1-year point-to-point with cap strategy is a crediting method whereby interest is credited annually based on the index return from one point in time to another, up to a maximum called the cap.
Free/periodic withdrawals1
After the first contract year, you can withdraw up to the greater of 10% of the last anniversary value of your account or required minimum distributions (RMDs) without surrender charges or market value adjustment (MVA).
MVA is an adjustment to the account for changes in the interest rate credited to the contract since inception that is applied to withdrawals and surrenders that exceed the 10% free withdrawal amount during the first 7 contract years. The exceptions to paying the surrender charges for early withdrawal are:
- If you are required to take Required Minimum Distributions (RMDs) starting at age 72
- If, after first contract anniversary, you need to make a one-time withdrawal to pay for nursing home, hospice care or a terminal illness subject to restrictions
- If you qualify for the “bailout” provision that allows for free withdrawals if the S&P 500® Index performs poorly (see bailout endorsement)
Surrender charges are paid on early withdrawals and surrenders based on a gradually decreasing schedule for each guarantee period year. Please see your product brochure or contract for more details about the 7-year surrender charge schedule.
MVA does not apply upon payment of a death benefit. MVA is subject to state availability and restrictions.
Withdrawals will reduce your future retirement earnings potential.
Minimum guaranteed surrender value
If you cash in or “surrender” your contract early (before the contract’s 7-year maturity date) you will be subject to surrender charges based on the surrender charge schedule in your contract. However, your contract’s value (“surrender value”) will never be less than your Minimum Guaranteed Surrender Value (MGSV) or the Enhanced Guaranteed Surrender Value (EGSV), whichever is greater, minus any withdrawals and applicable withdrawal assessments. The EGSV equals 100% of your premium payments, plus interest credited at the minimum guaranteed rate stated in the contract. MGSV and EGSV end upon the annuity date or contract termination.
Annuity payments
For guaranteed income for life or for a specified period, you can choose from among several annuity payment options for you and your spouse (if you purchase a joint contract).
Other features:
Return of premium option
This optional rider—available for an additional fee—allows you to discontinue your annuity at the end of the surrender charge period, at any time before its renewal or termination date—and limits the amount of surrender charge paid. This rider guarantees that you will receive at least 100% of the premiums you paid, minus prior withdrawals, withdrawal assessments, and fees paid for rider benefits.2
Reallocation
You have the flexibility to reallocate your index strategies at the end of the crediting method term if your needs, goals or risk tolerance shift over time. With a range of choices, this also gives you the ability to diversify in changing markets.
Guaranteed death benefit
If you die before you begin receiving annuity income payments, Retirement Stages 7® guarantees that your beneficiary will receive the greatest of the account value, Enhanced Guaranteed Surrender Value or Minimum Guaranteed Surrender Value, minus any withdrawals and applicable withdrawal assessments, without going through probate.3
Morgan Stanley
Morgan Stanley is a leading global financial services firm with offices in New York City, London, Tokyo, Hong Kong and other world financial centers. The firm provides investment banking, securities, wealth management and investment management services to clients worldwide including corporations, governments, institutions and individuals.
First Trust
At First Trust, their experience, history of innovation and diversity of offerings are all part of their mission and are the only way they know to become a trusted financial professional. Because they consider each financial professional and his or her customer integral to their business, and truly our most valuable investment, they are committed to their best interests. They provide exceptional resources that help financial professionals define goals, solve problems and develop long-term strategies to help their clients achieve their dreams and goals. They believe that this kind of leadership will provide the most fundamentally sound investment products and financial professional support available in today’s marketplace.
More about Retirement Stages 7®
Guaranteed principal to protect your retirement money
Unlike other retirement products, a fixed index annuity is not an investment in individual securities.