Your cap. Your term. Locked.
CapLock™ FIA removes the uncertainty of changing caps by guaranteeing the declared cap rate for your entire surrender charge period. With growth potential tied to leading market indexes and protection from market losses, it offers a simple, predictable accumulation path that supports long-term retirement planning.
The Oceanview CapLock Fixed Indexed Annuity provides a clear, straightforward way to plan for long-term accumulation with confidence.
For the following three Guaranteed Cap Rate Index Strategies, the cap rate is declared once at policy issue and remains locked for your full surrender charge period — 5 or 7 years:
That means no annual re-declarations, no mid-term adjustments, and no unexpected changes to the declared cap rate — just clear expectations and consistent interest crediting parameters for long-term planning.
Your cap rate remains the same for your entire Surrender Charge Period, providing predictability in how interest is credited.
That’s the value of the CapLock design.
Clients can choose from a range of diversified options designed for stable accumulation potential:
Annual point to point with cap rate calculates an interest credit based on the starting index value (i.e. beginning of the term) and the index value 1 year later. This return is subject to a cap which is defined at the start of the term.
*The Cap Rate Guarantee Funds are only available at the time of application. If a client elects to reallocate out of a Cap Rate Guarantee Fund to another fund, the client cannot reallocate back into any of the Guarantee Funds.
Annual point to point with cap rate calculates an interest credit based on the starting index value (i.e. beginning of the term) and the index value 1 year later. This return is subject to a cap which is defined at the start of the term.
*The Cap Rate Guarantee Funds are only available at the time of application. If a client elects to reallocate out of a Cap Rate Guarantee Fund to another fund, the client cannot reallocate back into any of the Guarantee Funds.
Annual point to point with cap rate calculates an interest credit based on the starting index value (i.e. beginning of the term) and the index value 1 year later. This return is subject to a cap which is defined at the start of the term.
*The Cap Rate Guarantee Funds are only available at the time of application. If a client elects to reallocate out of a Cap Rate Guarantee Fund to another fund, the client cannot reallocate back into any of the Guarantee Funds.
Annual point to point with cap rate calculates an interest credit based on the starting index value (i.e. beginning of the term) and the index value 1 year later. This return is subject to a cap which is defined at the start of the term.
Annual point to point with cap rate calculates an interest credit based on the starting index value (i.e. beginning of the term) and the index value 1 year later. This return is subject to a cap which is defined at the start of the term.
Annual point to point with cap rate calculates an interest credit based on the starting index value (i.e. beginning of the term) and the index value 1 year later. This return is subject to a cap which is defined at the start of the term.
Annual point to point with participation rate works similarly to the annual point to point with cap, with a major distinction. Index returns are not subject to a cap, instead clients can participate in a portion of the gains.
2 year point to point with participation rate works similarly to the annual point to point with cap, with a few key exceptions. First, the interest credit is determined based on two years of market returns, allowing for greater gains. Second, index returns are not subject to a cap, instead clients can participate in a portion of the gains.
Monthly average annual point to point with cap rate calculates a point to point to return on the average of the 12 month-aversary index values and the starting index value.
Annual point to point with participation rate works similarly to the annual point to point with cap, with a major distinction. Index returns are not subject to a cap, instead clients can participate in a portion of the gains.
S&P 500 Daily Risk Control Indices use an overlay designed to maintain risk at a predefined level – in this case, up to 5% volatility.
Annual point to point with participation rate works similarly to the annual point to point with cap, with a major distinction. Index returns are not subject to a cap, instead clients can participate in a portion of the gains.
S&P 500 Daily Risk Control Indices use an overlay designed to maintain risk at a predefined level – in this case, up to 10% volatility.
*The Cap Rate Guarantee Funds are only available at the time of application. If a client elects to reallocate out of a Cap Rate Guarantee Fund to another fund, the client cannot reallocate back into any of the Guarantee Funds.
Interest, if any, is credited annually based on index performance, excluding dividends, and subject to the applicable cap or participation rate.
Nursing Home Confinement*: After the first contract anniversary, in the event that the contract owner is confined to a nursing home, any applicable MVA or surrender charges will be waived on any withdrawal. Nursing home confinement is defined as at least 90 consecutive days or at least 90 days if there is no more than a 6-month break in the confinement. Confinement must be prescribed by a qualified physician and medically necessary. Proof must be furnished to the Company during confinement or within 90 days after such confinement.
No Charge
Terminal Illness*: After the first contract anniversary, in the event that the contract owner is terminally ill and not expected to live more than 12 months, any applicable MVA and surrender charges will be waived on any withdrawal. Terminal illness must be diagnosed by a qualified physician after the contract’s issue date. Proof of terminal illness must be provided to the Company.
No Charge
*Waiver of surrender and MVA charges based on final review of claim.
Accessing Funds
Free Withdrawals
After the first contract year, clients may withdraw up to 10% of their account value (as of the most recent contract anniversary) each year without surrender charges or MVA.
Minimum withdrawal: $250.
Market Value Adjustment (MVA)
(Not applicable in California)
An MVA may adjust the value of withdrawals exceeding the free allowance, depending on market interest rate changes since issue. It may either increase or decrease the surrender value. The MVA applies only during the surrender charge period.
Required Minimum Distributions
RMDs from qualified contracts are available after the first contract year and will not be subject to surrender charges or an MVA.
If the contract is maintained after the Surrender Charge Period, any funds in the Guaranteed Cap Strategies will automatically transition to a non-guaranteed cap strategy, subject to the then-current declared rates in effect at that time.
Death Benefit & Spousal Continuation
If the owner or annuitant passes away before annuitization, the full contract value is paid to beneficiaries and is not subject to any surrender charges or an MVA.
A spousal continuation provision allows the surviving spouse to continue the contract with full benefits and tax-deferred status. Spousal continuation is available only if the spouse is the sole primary beneficiary.
The Harbourview Fixed Indexed Annuity (FIA) can provide an income stream for a term of your choosing, including the rest of your life.
Life Only: Equal monthly payments for the annuitant’s remaining lifetime. Payments will end with the payment due just before the annuitant’s death.
Life with 10-Year Period Certain: Equal monthly payments for the greater of 120 months or the annuitant’s remaining lifetime.
Joint and Last Survivor: This option provides payments during the lifetime of the annuitant and the lifetime of a designated second person. If at the death of the survivor, annuity payments have been made for less than 120 monthly periods, the remaining guaranteed annuity payments will be continued to the beneficiary.
*Once annuity payments have begun, no changes can be made.
CapLock combines the potential for index-linked growth with the principal protection of a fixed annuity.
How interest is credited:
Regardless of market fluctuations, your account value remains protected.
Key Features
About CapLock
Q: How is CapLock different from traditional FIAs?
Traditional FIAs generally re-declare their cap rates each year. CapLock provides greater predictability by locking your cap rate at issue for the full surrender charge period.
Q: Are returns guaranteed?
No. The cap rate is guaranteed to remain the same, but credited interest depends on index performance. Poor index performance may result in zero interest for a period — but your principal will not decline.
Q: When can I choose a Guaranteed Cap Rate Strategy?
Only at the time of application.
If you reallocate out of a Guaranteed Cap Strategy, you cannot re-enter one later.
Q: What happens at the end of my surrender charge period?
At the end of the Surrender Charge Period, clients can reallocate among available crediting strategies or fully withdraw their account value without surrender charges or MVA.
If your contract continues without action, Guaranteed Cap Strategy allocations transition to non-guaranteed cap strategies at the then-current declared rates.
Q: Can I change my allocations during the surrender charge period?
Yes — but only among non-guaranteed strategies.
Guaranteed Cap Rate Strategies are available only at issue and cannot be re-entered once exited.
About Fixed Indexed Annuities
Q: Is my money invested in the market?
No. Index performance is a reference for interest crediting only and does not involve direct market participation or dividends. Interest, if any, is credited based on index performance and subject to a cap or participation rate.
Q: Can my contract lose value due to market declines?
No. Principal and credited interest are protected from market losses.
Q: How is interest determined?
Interest is credited at the end of each crediting period based on index results and the cap or participation rate associated with your chosen strategy. Interest crediting formulas vary by index strategy and are described in the contract.
Q: What liquidity options are available?
After year one, up to 10% of your account value may be withdrawn annually without surrender charges or MVA. RMDs are also not subject to surrender charges or MVA.
Q: What is a Market Value Adjustment (MVA)?
An adjustment applied to withdrawals over the free allowance during the surrender charge period and is based on interest rate changes. (Not applicable in California). It may either increase or decrease surrender value.
Q: Are there any annual fees?
No explicit annual policy or administrative fees. Surrender charges and MVA apply only to withdrawals above the free allowance (generally 10% after the first year) during the surrender charge period.
Q: What happens if the owner passes away?
Beneficiaries receive the full contract value without surrender charges or MVA.
Q: Is CapLock available in all states?
CapLock is available in most states but not in New York or Vermont.
California versions are non-MVA.
About Oceanview
All guarantees are backed by the claims-paying ability of Oceanview Life and Annuity Company, rated A (Excellent) by A.M. Best.
A.M. Best rating as of December 11, 2024; ratings are subject to change and do not apply to the investment performance of any index.
Product suitability should be determined based on the client’s financial situation, investment objectives, and time horizon. Clients should consult their financial professional to determine whether this product meets their needs and objectives.
For most states, this annuity contract is issued on FIA Policy Form: ICC19OLASPDA. Product features, options, form numbers and availability may vary by state. This is a brief description of the FIA contract and is meant for informational purposes only. It is not individualized to address any specific investment objective. It is not intended as investment or financial advice
Your Cap. Your Term. Locked.
CapLock Fixed Indexed Annuity
