Variflex Variable Annuity offered by Security Benefit

Introduction
Type of Product Variable Annuity
Product NameVariflex Variable Annuity
Offered bySecurity Benefit
Company Info

Security Benefit is a Kansa... read more

Contract and Purchasing
Minimum Premium Payment500
Maximum Premium Payment1000000
Minimum Additional Premium Payment25
Maximum Age at Start of Contract80
Investments
Ability to Select Asset AllocationYes
Total Number of Investment Options41 [Find annuities with more investment options]
Fixed Account
Minimum Fixed Account Rate Guarantee1 [Find annuities with higher fixed account minimum rate guarantees]
Features and Benefits
Free WithdrawalsYes
Free Withdrawal Limit10
Waiver of Withdrawal ChargesAvailable
Guaranteed Death BenefitAvailable
Are Loans AllowedYes
Are Telephone Transactions AllowedYes
Fees and Expenses
Minimum Total Fees and Expenses1.87 [Find annuities with lower fees and expenses]
Minimum Mortality and Expense Risk Charge "M&E Fee"1.2 [Find annuities with lower mortality and expense fees]
Maximum Mortality and Expense Risk Charge "M&E Fee"1.2 [Find annuities with lower mortality and expense fees]
Administrative Fee30.00 [Find annuities with lower administrative fees]
Contract Maintenance Fee0 [Find annuities with lower contract maintenance fees]
Early Withdrawal Charges / Surrender Fees
Minimum Investment Management Fee0.67 [Find annuities with lower investment management fees]
Maximum Investment Management Fee2.92 [Find annuities with lower investment management fees]
Sales Compensation
Maximum Commissions6 [Find annuities with lower commissions] [Find annuities with higher commissions]
Contact Information
Company OfferingSecurity Benefit
Company TypeInsurance Company
Phone Number800-888-2461
Websitewww.securitybenefit.com
Talk to a Financial Advisor
Contact Information Connect with a Financial Advisor
Reviews and Ratings
Average Review

5/5 from 1 Reviews


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Product Ratings and Reviews

Rating:
5
Average: 5 (1 vote)

Security Benefit provides an interesting subaccount option with the Variflex variable annuity.

"Target Portfolios" is a portfolio management approach that appears to be enabled by technology from Morningstar.

The approach seems to be similar to what is used by target date funds.

The approach provides 12 different investment strategies that are based on 3 categories of risk tolerance: conservative, moderate and aggressive.

The 3 risk tolerance categories are then segmented by the time horizon of the contract owner.  There are 4 time horizon categories: 0-3 years, 4-10 years, 11-20 years and over 20 years.

An automatic asset reallocation service is used to continually rebalance the portfolio.

The most conservative portfolio is the shortest time horizon (0-3 years) combined with a conservative risk tolerance, while the most aggressive is the longest time horizon coupled with an aggressive risk tolerance profile.

While the Security Benefit fund offerings tend to be weighted heavily towards Guggenheim (understandably) offerings, the Morningstar target portfolio technology is a nice feature for people who are not interested in constructing and managing a portfolio.

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