Can you live the life you want in retirement and not outlive your income? Learn how Market Shield Plus and Income Shield can help.


Market Shield Plus is a single premium deferred annuity with fixed and index-linked options. It allows you to build your long-term savings by earning interest as the market increases, while protecting your principal during periods of decline. Your funds will be growing on a tax-deferred basis, too.

There are three allocation options from which you can choose:

Fixed Allocation: Funds in the Fixed Allocation are credited interest every day based on the current fixed interest rate for that day. This allocation offers added security – the current fixed rate will never be less than the guaranteed minimum fixed rate.

S&P 500® Annual Point-to-Point Index with Cap – At the end of each allocation period, funds in this allocation will be credited interest based on the change between the index price on the first day of the allocation period and the index price on the last day of the allocation period, up to the cap. Earnings will never be less than zero. The Cap is declared at the beginning of each Index Allocation Period. 

S&P 500® Annual Point-to-Point Index with Participation Rate – At the end of each allocation period, funds in this allocation will be credited interest based on the change between the index price on the first day of the allocation period and the index price on the last day of the allocation period, multiplied by the specified participation rate. Earnings will never be less than zero. The Participation Rate is declared at the beginning of each Index Allocation Period.


Market Shield Plus offers an attractive introductory premium bonus that is added to your account value when your contract is issued. The premium bonus is paid on premium received, so the contract will earn interest on the premium plus the premium bonus from day one.  If you surrender all of part of the contract during the first 10 years, you may lose all or part of the premium bonus.

The Premium Bonus* is vested according to the following schedule:


Surrender charges may apply for excess withdrawals or early contract termination. Surrender charges are waived in the event of death, unless the contract has been annuitized.

Market Shield Plus is a single premium deferred annuity with fixed and index-linked options underwritten by Federal Life Insurance Company (Mutual). This brochure is not a contract. Refer to the policy for complete terms and conditions. Federal tax penalties may be imposed upon certain transactions. Review your personal tax situation and your use of annuities with your attorney or tax advisor.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Federal Life Insurance Company (Mutual). Standard & Poor’s®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Federal Life Insurance Company (Mutual). Federal Life Insurance Company (Mutual)’s Market Shield Plus is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

Market Shield Plus offers an attractive 5% Premium Bonus, which will be added to your Account Value on day one!*


Minimum Issue Ages: 0-80

Minimum Single Premium: