Upstream Life

Upstream Life

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Upstream Life offers a variety of annuities, including multi-year guaranteed fixed annuities with maturities of three, five, seven, ten, fifteen, and twenty years. These products provide risk free, guaranteed positive returns, eliminating financial market risks and volatility. Upstream annuities are designed to ensure your client’s financial future and provide income throughout retirement, securing the peace of mind needed to enjoy life after a successful career.

The Upstream group plans to bring their agents to the forefront, providing value added commission structures, and aligning client, agent and company objectives. Upstream has secured and insured the financial success of their agents and clients through supplemental financial insurance policies, including errors and omissions, gap, and other company provided insurance.

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State Availability

Upstream Annuity Product Availability

Last updated June 29, 2020

Secure Foundation and Secure Legacy MYGAs

Upstream Life Secure Foundation MYGA Series interest is calculated on a simple interest 365 day year basis, meaning it does not compound interest at any point, but it does compute and accrue daily.

Upstream Life Secure Legacy MYGA Series interest is calculated on a compound interest 365 day year basis, meaning it compounds interest annually, and it computes and accrues daily.

The Secure Foundation (Simple Interest) and Secure Legacy (Compound Interest) annuity products are offered in the following contract lengths:

  • 3-year
  • 5-year
  • 7-year
  • 10-year
  • 15-year

Here are some more product features and highlights:

  • Great rates
  • Minimum single premium: $10,000
  • Included free withdrawal options: Accumulated Interest after 30 days and RMDs after 30 days
  • Optional riders: 10% free withdrawal after year 1 (15 basis points) or Death Benefit Rider (25 basis points and required for Issue Ages 81+)
  • Backed by the state guaranty fund
  • Rated B++ by A.M. Best

Death Benefit Options

Some options may not be available under your Contract. Some Contracts may have Surrender Charges or Market Value Adjustments which may impact the total Death Proceeds payable. Please refer to the actual Contract or contact Customer Service for clarification.

  1. Option 1 – Lump Sum Payout: Surrender Charges and/or Market Value Adjustments may impact the total Death Proceeds payable. Not available if contract has been converted to an Immediate annuity (started a structured payout under the contractual settlement options)
  2. Option 2 – Spousal Continuation: Available only if the Claimant was the Deceased Owner’s Spouse and was the sole designated Beneficiary. Ownership will transfer to the surviving spouse. Do not return the Contract. You must designate new beneficiaries if you elect this option.
  3. Option 3 – Deferral: NOTE: THIS IS NOT AVAILABLE IF THE DECEASED’S POLICY IS AN IRA AND THE DECEASED WAS OVER AGE 70 1⁄2 AT DEATH. Defer Lump Sum Payout up to the 5th anniversary of date of death or Contract Maturity, whichever occurs first. Surrender Charges and Market Value Adjustments may apply for the remainder of the guarantee period. Do not return the Contract.
  4. Option 4 – Payments for a Period Certain: Death Proceeds are paid as an income for a specific number of years in equal installments for a minimum of 5-
    years. A Supplementary Contract will be issued. Please refer to Settlement Option Pay-Out of the Contract for the Income for Specified Period Factors.
    Period Certain Years: 5, 10, or 15 years / Payment Frequency: Monthly, Quarterly, or Annually
  5. Option 5 – Life Annuity with a Five-year Certain Period: Death Proceeds are paid as a life annuity with a 5-year certain period. A Supplementary Contract will be issued. Please refer to Settlement Option Pay-Out of the Contract for the Income for Specified Period Factors. Payment Frequency: Monthly, Quarterly, or Annually
  6. Option 6 – Inherited “Stretch” Account: (Available only to non-spouse beneficiaries.): Note: For Qualified accounts, the maximum term for the "stretch" option is 10 years. Non-Qualified accounts-lifetime
  • Direct Transfer to a Stretch/Decedent Annuity with Upstream Life Insurance Company: A producer who is appointed with Upstream Life Insurance Company and licensed in your state must facilitate this request. In addition to this form, further requirements will be required.
  • Direct Transfer to a Stretch/Decedent Annuity with another company: In addition to this form, completed Transfer Paperwork with Letters of Acceptance are required. Additional requirements may exist at the receiving company.

Note: pursuant to IRS regulations, you must withdraw a required minimum distribution (RMD) annually.; however, more than the RMD may be withdrawn. the first RMD must be taken within one year of the death. in each subsequent year, the beneficiary must take an RMD by December 31st. Inherited accounts can be transferred via 1035 Exchange or Trustee to Trustee Transfer to a new policy as long as the new policy is maintained as an inherited account and annual RMDs continue.

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This product may be available in other states not listed. Please contact us to inquire.