To see information for a different variable annuity, select from the list below. For New York and Texas, please select your state. For all others, please select National, then the product name.
RAVA 5 Advantage® variable annuity
You've worked hard throughout your lifetime to prepare for a comfortable retirement. Through each stage — from building your nest egg to enjoying your retirement — you'll want and need sustainable retirement income and the growth potential to help ensure the retirement you envision. RiverSource offers a range of annuity solutions that can help you grow your money, live more confidently in retirement and share your wealth with the people and causes you care about.
Variable annuities are long-term investment vehicles designed to help you position yourself for a more confident retirement. For further information, please read the prospectus.
- Minimum initial payment: Qualified - $1,000; Non-qualified - $2,000
- Minimum additional payments: $50
- If annuity is part of an employer-sponsored plan, the minimum payment is $1,000 for lump sum, or $25 per payment (only allowed with group bill).
- Maximum issue age: 90
Surrender charges (based on each premium payment)
Access to withdrawals
Cumulative earnings or 10% of the prior anniversary contract value can be annually withdrawn without charge
Surrender charge waivers
Nursing Home Confinement
- Owner and joint owner must be confined to a qualified facility for 60 consecutive days
- Owner and joint owner must be under 76 at contract issue
- Diagnosis must occur after first contract anniversary
- No maximum issue age
Owner and joint owner are covered on both waivers. Waiver availability varies by state. Check your product prospectus for more information.
- $50 monthly minimum
Regular fixed account
- One year guaranteed rate followed by 12-month renewal rates
- Guaranteed Minimum Interest Rate varies by issue date
Investment Features and Options
Special Dollar Cost Averaging fixed account (SDCA)
- 6 and 12 month DCA
- No minimum
Guarantee Period Accounts (GPA)
- 1 to 10 year durations
- Market Value Adjustment (MVA) is made for any withdrawals or client-elected transfers (waived under certain instances)
- Rate is set bi-weekly
- $1,000 minimum
- No guaranteed minimum rate
- Not available in all states
Total Mortality & Expense (M&E) fee
- 7-year M&E: 1.10% (through year 10); 0.95% (years 11+)
- 10-year M&E: 0.95%
Optional Living and Death Benefit fees
|Fee added to M&E fee|
|Return of Purchase Payments (ROPP) death benefit||0.35%|
|Maximum Five Year Anniversary Value (MAV5) death benefit||0.10%|
|Maximum Anniversary Value (MAV) death benefit||0.25%|
|SecureSource 4® — Single Life Benefit||1.00%|
|SecureSource 4® — Joint Life Benefit||1.15%|
|SecureSource 4 Plus® — Single Life Benefit||1.30%|
|SecureSource 4 Plus® — Joint Life Benefit||1.55%|
|SecureSource Core® — Single Life Benefit||1.30%|
|SecureSource Core® — Joint Life Benefit||1.40%|
|SecureSource Core Plus® — Single Life Benefit||1.50%|
|SecureSource Core Plus® — Joint Life Benefit||1.70%|
|SecureSource Legacy® death benefit||.25%|
|Accumulation Protector Benefit® (APB®)||1.15%|
|Benefit Protector® Death Benefit (BP)||0.25%|
|Enhanced Legacy® Benefit||0.95%|
$30 annual charge. (Waived for contracts $50,000 and over; not waived at full surrender.)
RiverSource offers two categories of investing solutions for your variable annuity
Asset Allocation Portfolios
Asset allocation and risk managed portfolios are “funds of funds” that are broadly diversified across asset classes, market sectors and holdings. These funds are designed to provide growth while addressing market risk and volatility.
Over 90 expertly selected individual funds offer the opportunity to build a customized portfolio from a variety of investment types including equity funds, fixed income funds and sector and alternative funds.
When selecting optional benefits
Some optional annuity benefits require you to invest in a select group of asset allocation funds that can help manage volatility in your annuity while providing broad diversification. Your Ameriprise Financial advisor can help you determine which funds are available to you, depending on the optional benefits you select.
Diversification does not assure a profit or protect against a loss.
Optional benefits provide increased protection
RiverSource® annuities can help with a wide range of retirement needs, including protecting your wealth, providing lifetime income guarantees and leaving a legacy. Optional benefits, available for an additional fee, can be added to your annuity contract to meet your specific goals and needs.
Optional living benefits can protect your investment, offer opportunities for guaranteed income growth while you are accumulating, and provide guaranteed income for life.
Share your legacy with the people and causes you care about with a selection of death benefit options that can help protect your investment for your beneficiaries and even increase what you leave behind.