Goldstein Scorecard: C (dated October 4, 2026). See how it is graded.
Sagicor Platinum Series Fixed Indexed Annuity: A Guide for Current Owners
Written & reviewed by Hans Goldstein, EA, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Facts verified against Sagicor Life's annuity page, archived Platinum Series page (2010) and AM Best upgrade release on October 4, 2026 · Updated October 4, 2026
The Sagicor Platinum Series is a fixed indexed annuity from Sagicor Life Insurance Company that is no longer in Sagicor's lineup (annuity page checked October 4, 2026).
Sagicor's archived April 2010 product page shows a 9-year surrender charge starting at 9% (15% on the 5% bonus version), 10% free withdrawals from year 2 and 0% charge from year 10. Sagicor is rated A (Excellent) by AM Best, upgraded July 16, 2026.
Correction (October 4, 2026): an earlier version of this page described the Platinum Series as a current product with June 2026 caps (about 9.5% and 7.5%), a 3% bonus on a 10-year version, a 7-year schedule and "no GLWB rider option", and listed AM Best at A-.
We could not find any of those numbers in Sagicor documents. Sagicor's own archived 2010 page shows a 9-year schedule, a 5% bonus version and a withdrawal benefit provision from year 11, and AM Best upgraded Sagicor Life to A in July 2026.
Unverified S&P, Moody's, Fitch, Weiss, KBRA and COMDEX entries, the "renewal rate integrity" and customer service grades, the star rating and the complexity score are removed.
This page is for people who already own a Sagicor Life Platinum Series fixed indexed annuity, including heirs. There is no current public rate sheet for it. The terms below come from Sagicor Life's own product page as archived on April 27, 2010; later contracts may differ, so check your contract and annual statement.
Status: no longer offered (sources dated)
- October 4, 2026: Sagicor Life's annuity page lists the Milestone Max MYGA, the Milestone MYGA (California only), the Sage Accumulator FIA and a Single Premium Immediate Annuity. The Platinum Series is not listed.
- September 8, 2015 and April 18, 2016 (archived): Sagicor Life USA's fixed indexed annuity page showed the Sage Advantage FIA, and its annuities page showed a SPIA, Sage Choice and Sage Select. Neither shows the Platinum Series.
- April 27, 2010 (archived): Sagicor Life USA's Platinum Series Fixed Indexed Annuity page described the product and its terms (table below).
We found no Sagicor statement giving the exact date sales stopped. Existing contracts remain in force on their own terms.
Contract terms as published in 2010 (historical)
| Feature | Sagicor page, April 2010 |
|---|---|
| Status today | Not on Sagicor Life's annuity page, checked October 4, 2026 |
| Premium | Single premium; no front-end charges or loads |
| Bonus version | Sagicor adds 5% of the single premium at issue (higher surrender charges) |
| Surrender charge, standard (years 1 to 9) | 9, 8, 7, 6, 5, 4, 3, 2, 1%; 0% from year 10 |
| Surrender charge, 5% bonus version (years 1 to 9) | 15, 14, 13, 12, 11, 9, 7, 5, 3%; 0% from year 10 |
| Free withdrawals | From year 2, up to 10% of account value each year; an RMD above that amount is not charged |
| Withdrawal benefit provision | From year 11, 10% of the initial deposit a year for up to 20 years if no withdrawals were taken, regardless of interest credited; cumulative (see contract) |
| Declared Rate Strategy | Fixed rate declared at the start of each one-year term and held for the term; credited daily |
| S&P 500 strategy | One-year point-to-point with a cap; floor 0%; cap declared in advance, held for one year, may change annually |
| Global Basket strategy | Three-year point-to-point on the Russell 2000, Dow Jones EURO STOXX 50 and Hang Seng: 60% of the top-performing index plus 40% of the second, times a participation rate declared at issue |
| Allocation dates | Four a month: the 1st, 8th, 15th and 22nd |
| Surrender charge waivers | Not charged at the owner's death or where the waiver of surrender charge rider applies |
| Contractual minimum cap, participation rate, declared rate | Not publicly disclosed; in your contract |
| Current renewal caps on in-force contracts | Not publicly disclosed; on your annual statement |
Also see: CIT Bank Platinum Savings Review
Get an independent read on Sagicor Platinum Series FIA before you sign.
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Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | A- | AM Best A (Excellent), upgraded from A-, outlook stable (Sagicor Financial press release, July 16, 2026). |
| Rate or cap competitiveness | Incomplete | Renewal caps and declared rates on in-force Platinum Series contracts are not published. |
| Guaranteed floor | Incomplete | 0% index floor per the 2010 page; the contractual minimum cap and minimum declared rate are not public. |
| Liquidity | B | 2010 terms: 9-year surrender charge (from 9%, or 15% on the bonus version), 0% from year 10; 10% free withdrawals from year 2. |
| Costs | B | No front-end charges or loads (2010 page). Any rider charges are in the contract. |
| Transparency | D | No Sagicor document for this product is online today; in-force rates appear only on owner statements. |
| Overall | C | A stronger-rated insurer since July 2026 behind a legacy contract whose current caps and floors are not public. The decision turns on the caps on your statement. |
Get the current numbers for your amountor call 213-414-2808
What an owner should check now
- Contract year. Under the 2010 schedule the surrender charge is 0% from contract year 10. A contract issued in 2016 or earlier is now in year 10 or later. Confirm with your contract, since later issues may differ.
- Renewal caps. Read the S&P 500 cap, the declared rate and any participation rate on your latest anniversary statement. They reset each year at Sagicor's discretion.
- Contractual minimums. The minimum cap and minimum declared rate are in the contract, not in public documents. Ask Sagicor for them in writing.
- Withdrawal benefit provision. The 2010 page describes a withdrawal benefit from year 11 if no withdrawals were taken. Ask whether your contract has it and what it pays.
- Options once the charge is 0%. Keep the contract, take withdrawals or income, surrender it, or move it by 1035 exchange to another annuity such as a MYGA. A 1035 exchange avoids current income tax only when done as a direct exchange under IRC Section 1035, and the new contract starts its own surrender schedule. See the 1035 exchange step-by-step guide.
Sagicor's current annuities (checked October 4, 2026)
Sagicor's annuity page lists four products.
The Sage Accumulator FIA is its current fixed indexed annuity: per the Sage Accumulator client guide (SA-CG0013), it offers 5-, 7- or 10-year surrender charge schedules (9% in year 1 on each, outside California), an MVA during the surrender period, penalty-free withdrawals from year 2, RMDs in all years, S&P 500 and iShares ETF strategies and a declared rate strategy, with a 0% minimum annual credit.
Its caps and participation rates are set at Sagicor's discretion; ask for the current rate sheet with its effective date. The other three are the Milestone Max MYGA, the Milestone MYGA (California only) and a single premium immediate annuity. See our Sagicor Milestone MYGA review.
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge.
In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Pros and cons
| Pros | Cons |
|---|---|
| Sagicor Life was upgraded to AM Best A (Excellent), stable, on July 16, 2026. | Not in Sagicor's current lineup; no public rate sheet. |
| 2010 terms: 0% surrender charge from year 10. | Renewal caps and contractual minimums are not public. |
| 10% free withdrawals each year from year 2 (2010 terms). | The 5% bonus version carried a 15% first-year surrender charge. |
| Index losses are not credited (0% floor per the 2010 page). | Terms of later issues may differ from the 2010 page. |
Who it's for, and when to look elsewhere
Fits: an owner past the surrender period whose statement shows caps they are content with, or one who plans to use the withdrawal benefit provision described for year 11 and later.
Look elsewhere if:
- Your statement shows caps or a declared rate near what you would accept from a fixed account. Get the contractual minimums in writing and compare.
- Someone pitches a replacement on a new bonus. Compare cash surrender value today with the new contract's cash surrender value and its full surrender schedule.
- You mainly want a known rate. A MYGA locks a declared rate for the term, backed by the claims-paying ability of the issuing insurer. For comparison, A-rated-or-better insurers were paying about 5.50% to 6.05% on 5-year MYGAs and the best nationally available 5-year CDs about 4.70% to 5.00% APY (MYGAs: public carrier rate sheets, October 14, 2026; CDs: Bankrate and Popular Direct, October 18, 2026). Current rates: MYGA rates.
Run the numbers: annuity surrender charge calculator and annuity calculator. Related reviews: Sagicor Milestone MYGA, how annuity crediting actually works and annuity second opinion.
Questions to ask your agent
- What are the minimum cap, minimum participation rate and minimum declared rate in my Platinum Series contract? In writing, please.
- What contract year am I in, what surrender charge applies today (if any), is there an MVA, and how much can I take out free this year?
- What caps and declared rates did my allocations get at each of the last three anniversaries?
- Does my contract have the withdrawal benefit provision from year 11, and what would it pay?
- If you recommend an exchange, show me the new contract's full surrender schedule by year, its MVA and its contractual minimums. How are you paid on it? Commission comes from the insurer and is built into the product's pricing, not deducted from my premium. What percentage is it, and would a longer surrender term pay you more? (Background: how annuity commissions work.)
From my desk
With a retired product like the Platinum Series, the first thing I check is the owner's own contract and the latest anniversary statement, because there is no current public document to lean on. I want the issue date, the version (standard or 5% bonus) and the current caps and declared rate.
The number owners misread most often on an older FIA is the cap they were sold years ago. Caps reset each year, so the only cap that matters now is the one on the latest statement, measured against the contractual minimum.
For a MYGA comparison I take the cash surrender value on a date the owner can move without a charge, then set a MYGA's declared rate for the full term next to what the current caps have actually credited. Hypothetical: if the statement shows a declared rate well under what a MYGA declares for five years, that gap is what staying costs in a flat year.
Hans Goldstein, independent licensed insurance producer, CA license 4273294, NPN 20602398. No carrier paid for this review.
Frequently asked questions
Is the Sagicor Platinum Series fixed indexed annuity still sold?
No public sign of it. Sagicor Life's annuity page, checked October 4, 2026, lists only the Milestone Max MYGA, the Milestone MYGA (California only), the Sage Accumulator FIA and a single premium immediate annuity. Archived Sagicor annuity pages from September 2015 and April 2016 no longer show the Platinum Series either.
Sagicor has not published a closing date that we could find. Existing contracts stay in force under their own terms.
What was the Platinum Series surrender charge?
Sagicor's April 2010 product page lists 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2% and 1% in contract years 1 to 9 and 0% from year 10. The 5% bonus version had a higher schedule: 15%, 14%, 13%, 12%, 11%, 9%, 7%, 5% and 3%, then 0% from year 10. Your contract governs.
What is the minimum cap on my Platinum Series contract?
It is not publicly disclosed. Sagicor's 2010 page says the S&P 500 cap is declared in advance, guaranteed for one year and may change annually, but it does not state a contractual minimum. Ask Sagicor or your agent for the minimum cap, minimum participation rate and minimum declared rate in your contract, in writing.
What replaced the Platinum Series?
Sagicor's current fixed indexed annuity is the Sage Accumulator FIA, with 5-, 7- or 10-year surrender charge schedules and an MVA during the surrender period (Sagicor client guide, read October 4, 2026). It is a new contract with a new surrender schedule, not an upgrade of the old one.
Can I move a Platinum Series annuity into a MYGA?
Yes, through a 1035 exchange. It moves the value without current income tax only when done as a direct exchange under IRC Section 1035. Under the 2010 schedule there is no surrender charge from contract year 10. A new MYGA starts its own surrender schedule, so compare its rate and term with the caps you are getting now.
What is Sagicor Life's AM Best rating?
AM Best upgraded Sagicor Life Insurance Company's financial strength rating to A (Excellent) from A- (Excellent), with a stable outlook, per Sagicor Financial's press release dated July 16, 2026.
Get a second opinion before you sign
Talk to Hans Goldstein, a licensed independent insurance producer.
A fixed indexed annuity ties up your money for 7 to 15 years. Cap rates renew annually and can drop. Income riders have separate benefit bases that aren't cash. Get an independent review before you commit your retirement savings to a multi-year contract.
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Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Sources (checked October 4, 2026)
- Sagicor Life Insurance Company, Annuities product page: current lineup, checked October 4, 2026.
- Sagicor Life Insurance Company, Platinum Series Fixed Indexed Annuity page (Internet Archive snapshot, April 27, 2010): strategies, bonus version, surrender charges, free withdrawals, withdrawal benefit provision.
- Sagicor Life Insurance Company, FIA page (snapshot September 8, 2015) and Annuities page (snapshot April 18, 2016): products listed at those dates.
- Sagicor Life Insurance Company, Sage Accumulator FIA page and Sage Accumulator client guide SA-CG0013: surrender schedules, MVA, features, read October 4, 2026.
- Sagicor Financial Company Ltd., Sagicor Financial Announces Credit Rating Upgrades by AM Best, press release, July 16, 2026.
- MYGA and CD benchmark: public carrier rate sheets (MYGAs, October 14, 2026) and DepositAccounts (CDs, September 24, 2026).
Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.