Secure Savings Elite 2-Year review

It depends, and the honest answer has two parts. As a product structure, it is a clean and reasonably thought-out 2-year MYGA. The rate-for-liquidity tradeoff is transparent, the optional rider menu is useful, and the issue-age range to 85 gives it broader appeal than some competitors. What complicates the answer is the carrier: SILAC holds an A.M. Best B rating. That is not a failing grade, but it is below what most advisors treat as their minimum threshold for client recommendations. Buyers who are fully informed about what that rating means and are comfortable with the tradeoff may find this product useful. Buyers who aren't sure what it means should pause before placing money here.

The rational case for this product is a very short-term commitment with optional liquidity built in. Someone who has, say, $50,000 sitting idle for two years — an IRA rollover waiting to be deployed, or a bridge between two longer-term decisions — might find the 3.90% guaranteed rate attractive for that specific window. The rider structure helps if their situation involves RMDs or if they want accumulated-interest access in year one. The 2-year surrender schedule is also unusually short for an annuity, which reduces the commitment risk that concerns many buyers.

I think this product fits a narrow buyer profile: someone who has a specific 2-year parking need, is comfortable with SILAC's carrier rating after understanding what it means, and wants more flexibility than a plain MYGA with standard free-withdrawal terms. It is also a reasonable fit for qualified-account holders (IRA, 401k rollover) who want RMD coverage without worrying about exceeding the standard free-withdrawal amount. It is a poor fit for buyers who prioritize carrier strength above all else, who need liquidity at full value before 2 years, or who are placing a large portion of their liquid net worth here.

At its core, this is a simple contract: SILAC guarantees 3.90% per year for two years, and you agree not to take more than the free-withdrawal amount without triggering a surrender charge and a potential market value adjustment. What makes Secure Savings Elite different from a plain MYGA is the rider overlay. Instead of accepting a fixed liquidity structure, you choose upfront which access features you want and pay for each one through a rate reduction. That's a more consumer-friendly design than burying liquidity in fine print, but it means the advertised base rate is not what every buyer actually earns. The rate you lock in on day one depends on which riders you select.

The base crediting rate is a fixed 3.90% guaranteed for the full 2-year surrender period — straightforward and easy to compare against bank CDs and other short-term MYGAs. What makes this product distinct is the rider-adjusted crediting structure. Before issue, you choose whether to add any of three optional riders:

**5% Penalty-Free Withdrawal Rider** (available in year two and later): reduces the credited rate by 0.06%, to 3.84%.

**Accumulated Interest Access Rider** (year one access): reduces the credited rate by 0.06%, to 3.84%.

**Required Minimum Distribution Rider** (year one RMD access): reduces the credited rate by 0.10%, to 3.80%.

You can stack riders, which means the combined reduction on a contract with all three would be 0.22%, producing a net credited rate of approximately 3.68%. Each rider buys you specific access rights that otherwise would not be available in year one or in excess of the standard free-withdrawal amount. The tradeoffs are clearly disclosed, which I think is one of the more transparent structural choices in this product's design.

The secondary feature worth understanding is the base free-withdrawal provision itself, even without any optional riders. In year one, you can take out the greater of credited interest or your RMD without a surrender charge. In year two, that expands to the greater of 5% of account value, credited interest, or your RMD. For most buyers holding this in a non-qualified account, that's a modest but real liquidity floor. For IRA holders with large balances where RMDs could exceed 5%, the base terms still leave a gap — which is precisely where the optional RMD rider adds value at a 0.10% rate cost. The death benefit is also straightforward: heirs receive the cash surrender value, with no enhanced death benefit design to navigate.

This is a 2-year annuity, which is unusually short. The surrender schedule runs 9% in year one and 8% in year two — charges that are steep relative to the short timeframe, but consistent with industry norms for MYGAs. This contract also carries a market value adjustment (MVA), meaning that if you surrender or take an excess withdrawal, the penalty can be larger or smaller than the stated charge depending on where interest rates stand at the time. In a rising-rate environment, MVA can meaningfully increase your exit cost.

The free-withdrawal terms described above provide a real safety valve, and the optional riders expand access further — but the point still stands: this money needs to stay put for two years. Buyers who cannot confidently commit to that should not place money here. The 2-year window is short by annuity standards, but it is not liquid in the way a savings account is.

There are no stated contract or administrative fees on Secure Savings Elite 2-Year. The cost structure works differently: you effectively pay for features through rate reductions, not explicit fee lines. Each optional rider shaves the credited rate by 0.06% or 0.10%, which is a clear and auditable tradeoff. Over a 2-year period, those are small dollar amounts in absolute terms, but they compound the question of whether a higher base rate from a stronger carrier might leave you better off overall.

The more significant tradeoff is the MVA. In a period when rates are rising, even a contractually small surrender event can produce a larger-than-expected penalty. Buyers should ask about the current MVA formula before purchasing.

Legal Entity: SILAC Insurance Company

A.M. Best Rating: B

SILAC Insurance Company is a smaller regional carrier. The A.M. Best B rating sits below the B+ threshold that most financial professionals use as their placement floor. A B rating does not mean the company is in financial distress, but it does indicate a reduced level of financial strength relative to the broader annuity market. Buyers placing significant assets here should understand what that rating means in context and consider whether the rate differential justifies the tradeoff versus a B+ or better carrier.