Retirement Stages SelectSM

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

 

With volatile markets, some investors may be reluctant to stay invested in stocks and other equities long enough to see gains. But if you’re not invested, you could miss the best days.

With Retirement Stages SelectSM, you can choose to invest your money in one or a combination of index strategies. The money you allocate has the potential to grow based on the underlying performance of your chosen indexes, measured from the beginning to the end of your 1-year term. This is called “point-to-point” crediting.

If your chosen indexes rise, your account is credited with interest that represents a portion of the gain. If the index falls, you will not receive any interest—but neither will you sustain any loss. Instead, any earnings from the previous year are “locked in” and protected.

Index account options

S&P 500 index. Widely considered the leading benchhmark of the U.S. equities market, the Standard & Poor's 500 index includes 500 of the largest companies on the New York Stock Exchange and NASDAQ
Morgan Stanley Golobal Opportunities Index. Tracks and invests in Multiple asset classe of equities, fixed-income rates, and commodity futures. The dynamic rebalancing of fixed-income and bond components helps mitigate the risk of downtrends in volatile interest rate environments.
First Trust Capital Strength Barclays 5% index. Provides exposures to U.S. equities and treasuries-selects 50 large-cap U.S. stocks in the NASDAQ and utilizes an equity weighted portfolio of four Barclays U.S. Treasury futures indexes to capture optimal risk-adjusted returns.
RBA Select Equity Yield CIBC 5% Index. Value investing strategy focused on enhancing total returns by investing in the top 100 U.S. large-cap dividend-paying stocks, concentrating exclusively on stocks that produce reliable, sustainable dinidends.
View current fixed index annuity prices See prices
 

And for many investors, the “downs” can cause angst and uncertainty. To avoid losing money, they may shift their investments away from equities and into fixed income products like bank CDs and Treasury bonds. But when interest rates are low for extended periods—like the past 10 years—the return on these products can also be low. This creates a dilemma—having to choose between protecting your money or trying to grow it.

Retirement Stages SelectSM provides you the peace of mind that comes with downside protection. When markets perform poorly, you won’t lose any of your payments or credited interest, regardless of the index strategies and crediting options you choose. When markets perform well, you will have the opportunity, each year, to lock in the gains in your annuity.

How it works

The example below shows how a Retirement Stages SelectSM fixed index annuity can lock in account value gains during up markets and protect your account value during down markets.

#1: Upside opportunity: When markets perform well, you will have the opportunity, each year, to lock in the gains in your annuity.

#2: Downside protection: When markets perform poorly, you won’t lose any of your payments or credited interest, regardless of the index strategies and crediting options you choose.

#3: Peace of mind: You benefit from the security that comes with experiencing a more stable, predictable investment experience.

his chart shows how a hypothetical $100,000 initial payment might grow from year 1 to year 15. When markets perform well in years 1 through 4 (#1 upside potential), the gains are automatically locked in at the end of each year. When markets perform poorly in years 5 through 10 (#2 downside protection), you won’t lose any payments or credited interest. By year 15 the hypothetical account has grown to $169,104 (#3 peace of mind).

This chart is a 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 product. This chart assumes no fees, charges, or withdrawals are taken from the FIA during the illustrated period and reinvestment of dividends is not included. The hypothetical performance of the fixed index annuity, as illustrated, assumes a $100,000 initial payment, a cap of 8.0% (using the One-Year Point-to-Point with Cap crediting option only) and assumes no withdrawals or surrender charges during period shown. Different index-based strategies and interest crediting options may produce different results. The amount of index interest credited at the end of the term year may be limited by index caps, spreads, PT Interest Rates, or a participation rate. Guarantees are backed by the financial strength and claims-paying ability of Delaware Life Insurance Company (Waltham, MA).

Extra protection

Retirement Stages SelectSM includes, at no additional cost to you, the Guaranteed Minimum Account Value (GMAV) feature. If your annuity’s account value has not grown by a minimum amount, GMAV ensures you’ll receive a minimum percentage of credited interest after your annuity’s 5-year or 7-year surrender period ends. Here’s how it works:

  • 5-year surrender period: GMAV guarantees that your annuity’s account value will be at least 115% of the initial premium, less any withdrawals, at the 5th anniversary.
  • 7-year surrender period: GMAV guarantees that your annuity’s account value will be at least 115% of the initial premium, less any withdrawals, at the 7th anniversary.
 

Occasionally, unexpected situations arise where you may need access to your money. If that happens, you have options.

Take withdrawals from your account value

Free withdrawals—you can take 10% of the total purchase payments during the first contract year. After the first contract year, you may take 10% of the last contract anniversary value. Both options are free of surrender charges and any applicable Market Value Adjustment. You have full access to the account value in your annuity after five or seven years, depending on which product you choose.

Partial or full withdrawals—you have the flexibility, should you need it, to take more than your free withdrawal amount. If you elect to withdraw more, please note that surrender charges and a Market Value Adjustment (MVA) may apply.

Turn your annuity into an income stream

You also have the option to annuitize your contract. Retirement Stages SelectSM offers several options to provide you with guaranteed income for you, or you and your spouse. Please refer to page 10 for more details.

Required Minimum Distributions (RMDs)

If you are required to take a RMD and that RMD is more than your 10% free withdrawal, you may take the entire RMD without a surrender charge.

Bailout Provision

You may make full or partial withdrawals from your annuity without a surrender charge or market value adjustment if the renewal cap rate for the S&P 500® 1-year point-to-point with cap index strategy falls below the bailout cap rate

Retirement Stages SelectSM documentation

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Footnotes

1 If you withdraw your assets, your principal may be reduced by withdrawal and surrender charges, rider fees and a market value adjustment. Charges will apply to the excess amount withdrawn in that contract year. Withdrawals may be subject to a market value adjustment, which may decrease or increase your surrender value depending on how interest rates have changed since you first purchased your annuity (not applicable in every state). A market value adjustment (MVA) is an adjustment applied to withdrawals and surrenders in excess of the free annual withdrawal amount during the first 7 contract years. MVA does not apply upon payment of death benefit. State variations may apply. Withdrawals are taxed as ordinary income and you may have to pay a 10% federal tax penalty if you are younger than age 59 ½.

Retirement Stages SelectSM Legal Disclosure

All products and/or options may not be available in all states. Annuity contracts contain exclusions, limitations, reductions of benefits, and terms for keeping them in force. Your licensed financial professional can provide you with complete details. For use with base policy forms DLIC-FIA-17 or ICC17-DLIC-FIA-17.

Retirement Stages SelectSM is currently approved for sale in all states EXCEPT: NY

Morgan Stanley

This product is not sponsored, endorsed, sold or promoted by Morgan Stanley or any of its affiliates. Neither Morgan Stanley nor any other party (including, without limitation, any calculation agents or data providers) makes any representation or warranty, express or implied, regarding the advisability of purchasing this product. The Morgan Stanley Global Opportunities Index (the “Index”) is the exclusive property of Morgan Stanley. Morgan Stanley and the Index are service marks of Morgan Stanley and have been licensed for use by Delaware Life Insurance Company for certain purposes. Morgan Stanley will not have any obligation or liability to owners of this product in connection with the administration or marketing of this product, and neither Morgan Stanley nor any other party guarantees the accuracy and/or the completeness of the Index or any data included therein. Morgan Stanley and its affiliates may engage in transactions involving components of the Index for their proprietary accounts and/or for accounts of their clients, which may affect the value of such components and the level of the Index.

Risk Factors:

There are risks associated with any product linked to this Index:

  • Allocation to a crediting method using the Index provides the potential for interest to be credited based in part on the performance of the Index.
  • The Index may not increase in value due to a number of factors and as a result there may be no interest credited to the annuity contract.
  • Because the Index is managed to a volatility target, the Index performance will not match the performance of the underlying Index components and may dampen the performance of the Index in rising markets.
  • The Index has a limited performance history and past performance is no indication of future performance.
  • The Index may be comprised of a small number of index components at any given time and the performance of the index involves risk associated with international and U.S. equities and bonds, commodities and precious metals, which may impact the Index value and the interest credited to the annuity contract.
  • Premium allocated to a crediting method using the Index is not a direct investment in the stock markets, bond markets, commodities, precious metals or in the index.
  • Purchasers of products linked to the index will have no access to the components underlying the Index.
  • The Index is calculated on excess return basis.

Barclays and First Trust®

Neither Barclays Bank PLC ("BB PLC") nor any of its affiliates (collectively ‘Barclays’) is the issuer or producer of Delaware Life fixed index annuities and Barclays has no responsibilities, obligations or duties to investors in Delaware Life fixed index annuities. The First Trust Capital Strength® Barclays 5% Index (the 'Index'), together with any Barclays indices that are components of the Index, is a trademark owned by Barclays and, together with any component indices and index data, is licensed for use by Delaware Life Insurance Company as the issuer or producer of Delaware Life fixed index annuities (the 'Issuer').

Barclays’ only relationship with the Issuer in respect of the Index is the licensing of the Index, which is administered, compiled and published by BB PLC in its role as the index sponsor (the ‘Index Sponsor’) without regard to the Issuer or the Delaware Life fixed index annuities or investors in the Delaware Life fixed index annuities. Additionally, Delaware Life Insurance Company as issuer or producer of Delaware Life fixed index annuities may for itself execute transaction(s) with Barclays in or relating to the Index in connection with Delaware Life fixed index annuities. Investors acquire Delaware Life fixed index annuities from Delaware Life Insurance Company and investors neither acquire any interest in the Index nor enter into any relationship of any kind whatsoever with Barclays upon making an investment in Delaware Life fixed index annuities. The Delaware Life fixed index annuities is not sponsored, endorsed, sold or promoted by Barclays and Barclays makes no representation regarding the advisability of the Delaware Life fixed index annuities or use of the Index or any data included therein. Barclays shall not be liable in any way to the Issuer, investors or to other third parties in respect of the use or accuracy of the Index or any data included therein.

Barclays Index Administration (“BINDA”), a distinct function within BB PLC, is responsible for day-to-day governance of BB PLC’s activities as Index Sponsor.

To protect the integrity of Barclays’ indices, BB PLC has in place a control framework designed to identify and remove and/or mitigate (as appropriate) conflicts of interest. Within the control framework, BINDA has the following specific responsibilities:

  • oversight of any third-party index calculation agent;
  • acting as approvals body for index lifecycle events (index launch, change and retirement); and
  • resolving unforeseen index calculation issues where discretion or interpretation may be required (for example: upon the occurrence of market disruption events).

To promote the independence of BINDA, the function is operationally separate from BB PLC’s sales, trading and structuring desks, investment managers, and other business units that have, or may be perceived to have, interests that may conflict with the independence or integrity of Barclays’ indices.

Notwithstanding the foregoing, potential conflicts of interest exist as a consequence of BB PLC providing indices alongside its other businesses. Please note the following in relation to Barclays’ indices:

  • BB PLC may act in multiple capacities with respect to a particular index including, but not limited to, functioning as index sponsor, index administrator, index owner and licensor.
  • Sales, trading or structuring desks in BB PLC may launch products linked to the performance of a index. These products are typically hedged by BB PLC’s trading desks. In hedging an index, a trading desk may purchase or sell constituents of that index. These purchases or sales may affect the prices of the index constituents which could in turn affect the level of that index.
  • BB PLC may establish investment funds that track an index or otherwise use an index for portfolio or asset allocation decisions.

The Index Sponsor is under no obligation to continue the administration, compilation and publication of the Index or the level of the Index. While the Index Sponsor currently employs the methodology ascribed to the Index (and application of such methodology shall be conclusive and binding), no assurance can be given that market, regulatory, juridical, financial, fiscal or other circumstances (including, but not limited to, any changes to or any suspension or termination of or any other events affecting any constituent within the Index) will not arise that would, in the view of the Index Sponsor, necessitate an adjustment, modification or change of such methodology. In certain circumstances, the Index Sponsor may suspend or terminate the Index. The Index Sponsor has appointed a third-party agent (the ‘Index Calculation Agent’) to calculate and maintain the Index. While the Index Sponsor is responsible for the operation of the Index, certain aspects have thus been outsourced to the Index Calculation Agent.

Barclays

a. makes no representation or warranty, express or implied, to the Issuer or any member of the public regarding the advisability of investing in transactions generally or the ability of the Index to track the performance of any market or underlying assets or data; and

b. has no obligation to take the needs of the Issuer into consideration in administering, compiling or publishing the Index.

Barclays has no obligation or liability in connection with administration, marketing or trading of the Delaware Life fixed index annuities.

The licensing agreement between Delaware Life Insurance Company and BB PLC is solely for the benefit of Delaware Life Insurance Company and Barclays and not for the benefit of the owners of the Delaware Life fixed index annuities, investors or other third parties.

BARCLAYS DOES NOT GUARANTEE, AND SHALL HAVE NO LIABILITY TO THE PURCHASERS AND TRADERS, AS THE CASE MAY BE, OF THE TRANSACTION OR TO THIRD PARTIES FOR THE QUALITY, ACCURACY AND/OR COMPLETENESS OF THE INDEX / OR ANY DATA INCLUDED THEREIN OR FOR INTERRUPTIONS IN THE DELIVERY OF THE INDEX. BARCLAYS MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE INDEX INCLUDING, WITHOUT LIMITATION, THE INDICES, OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL BARCLAYS HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, OR ANY LOST PROFITS, EVEN IF NOTIFIED OF THE POSSIBLITY OF SUCH DAMAGES SAVE TO THE EXTENT THAT SUCH EXCLUSION OF LIABILITY IS PROHIBITED BY LAW.

None of the information supplied by Barclays and used in this publication may be reproduced in any manner without the prior written permission of Barclays Bank PLC. Barclays Bank PLC is registered in England No. 1026167. Registered office 1 Churchill Place London E14 5HP.

Bloomberg Index Services Limited is the official index calculation and maintenance agent of the Index, an index owned and administered by Barclays. Bloomberg Index Services Limited does not guarantee the timeliness, accurateness, or completeness of the Index calculations or any data or information relating to the Index. Bloomberg Index Services Limited makes no warranty, express or implied, as to the Index or any data or values relating thereto or results to be obtained therefrom, and expressly disclaims all warranties of merchantability and fitness for a particular purpose with respect thereto. To the maximum extent allowed by law, Bloomberg Index Services Limited, its affiliates, and all of their respective partners, employees, subcontractors, agents, suppliers and vendors (collectively, the “protected parties”) shall have no liability or responsibility, contingent or otherwise, for any injury or damages, whether caused by the negligence of a protected party or otherwise, arising in connection with the calculation of the Index or any data or values included therein or in connection therewith and shall not be liable for any lost profits, losses, punitive, incidental or consequential damages.

First Trust®, First Trust & Design®, and First Trust Capital Strength® (“Mark”) is a registered trademark of First Trust Portfolios LP (“First Trust”) and has been licensed for use by Delaware Life. Delaware Life fixed index annuities (“Product”) is not sponsored, endorsed, sold or promoted by First Trust. FIRST TRUST MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY DELAWARE LIFE, A PRODUCT ISSUER, THE INVESTORS IN THE PRODUCT, OWNERS OF THE PRODUCT, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE MARKS OR PRODUCT. FIRST TRUST EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OF THE PRODUCT.

Standard & Poor’s®

The Standard & Poor’s 500® (”S&P 500®“) is a product of S&P Dow Jones Indices LLC or its affiliates (”SPDJI”) and has been licensed for use by Delaware Life Insurance Company (”Delaware Life”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (”S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (”Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Delaware Life. This Fixed Index Annuity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500®.

Delaware Life

Annuity withdrawals and other distributions of taxable amounts, including death benefit payouts, will be subject to ordinary income tax. For nonqualified contracts, an additional 3.8% federal tax may apply on net investment income. If withdrawals and other distributions are taken prior to age 59½, an additional 10% federal tax may apply. A withdrawal charge and a market value adjustment (MVA) also may apply. Withdrawals will reduce the contract value and the value of the death benefits, and also may reduce the value of any optional benefits.

Fixed index annuities are not securities and do not participate directly in the stock market or any index, and are not investments. It is not possible to invest directly in an index.

Riders are available for additional expenses.