Target Growth 10®
Target Growth 10® is designed for customers looking for a strong accumulation solution that provides downside market protection.

This chart is a hypothetical representation of fixed index annuity (FIA) growth under varying market/index conditions and is not meant to represent the performance of any Delaware Life FIA product. It does not reflect any potential withdrawals or associated surrender charges. Interest credited to a FIA is subject to caps, spreads, and/or participation rates that affect the proportion of index gains the annuity captures. Account value is the sum of all premiums, plus accumulated interest, and minus the amount of any withdrawals. This is not a guarantee of performance and does not predict performance. Annuities do not participate directly in the stock market or any index. They are insurance products designed to help you prepare for the future.
Ways to grow your retirement money: fixed account and index-linked option(s)
Fixed rate
Payments allocated to this option will be credited with a fixed interest rate that is specified on the date the contract is effective. Each year, Delaware Life will declare new interest rates to reflect current conditions, but never less than a minimum guaranteed rate. If you want more certainty about the amount of interest that will be credited to your account value, this may be the choice for you.
Morgan Stanley Global Opportunities Index
This index uses a rules-based, multi-asset strategy and a trend-following methodology to make allocations to global equities, interest rates, and commodities. This approach is intended to diversify risk and balance exposure to various market risk factors to reduce the portfolio’s natural volatility. The index is managed to a 5% target volatility over the long term and may also include a cash allocation to reduce overall volatility.
Watch a video about the Morgan Stanley Global Opportunities Index
S&P 500® Index
For those who want to earn interest based on the performance of a range of large U.S. businesses, this index is widely regarded as a premier benchmark for the domestic stock market. It contains stocks from 500 leading companies in various industries.
First Trust Capital Strength® Barclays 5% Index
The First Trust Capital Strength® Barclays 5% Index creates a diversified portfolio by combining U.S. stocks selected based on capital strength methodology with a portfolio of four Barclays U.S. Treasury futures indexes. The index seeks to enhance return and manage risk exposure by adjusting the portfolio’s asset allocation on a monthly basis using techniques from modern portfolio theory. It aims to maintain an annual volatility level at or below 5%, using a procedure called volatility control, to further control risk.
RBA Select Equity Yield CIBC 5% Index
The index focuses on 100 of the top U.S. dividend-paying stocks through a methodology based on leading market research and fundamental analysis of financial factors. This systematic rules-based, quantitative investment strategy seeks to consistently enhance returns through a targeted set of reliable and sustainable dividend-paying equities.
Ways to access your income:
Bailout
Target Growth 10® includes a bailout benefit. The bailout provision allows you to withdraw the entire contract value of the annuity, without a surrender charge or market value adjustment (MVA), if the renewal cap for the one year point-to-point S&P 500® Index falls below the contract’s issue cap rate, which is declared at contract issue and will not change during the life of the contract. No allocation to the S&P 500® Index is required to receive bailout protection (on which your income is based).
The one year point-to-point with cap strategy is a crediting method whereby interest is credited annually based on the index return from one point in time to another, up to a maximum called the cap.
Free/periodic withdrawals1
After the first contract year, you can withdraw up to the greater of 10% of the last anniversary value of your account or the required minimum distributions (RMD) with no surrender charges or market value adjustment (MVA). MVA is an adjustment to the account for changes in the interest rate credited to the contract since inception that is applied to withdrawals and surrenders that exceed the 10% free withdrawal amount during the first 10 contract years. The exceptions to paying the early withdrawal charges are these scenarios:
- If you are required to take RMDs starting at age 72
- If, after the first contract anniversary, you need to make a one-time withdrawal to pay for a nursing home, hospice care, or a terminal illness, subject to restrictions
Surrender charges are paid on early withdrawals and surrenders based on a gradually decreasing schedule for each guarantee period year. Please see your product brochure or contract for more details about the 10-year surrender charge schedule.
MVA does not apply upon payment of a death benefit. MVA is subject to state availability and restrictions.
Withdrawals will reduce your future retirement earnings potential.
Minimum guaranteed surrender value
If you cash in, or surrender, your contract early (before the contract’s 10-year maturity date), you will be subject to surrender charges based on the 10-year surrender charge schedule. However, your contract’s Minimum Guaranteed Surrender Value (MGSV) will never be less than 87.5% of premiums paid, less any withdrawals and applicable withdrawal assessments, plus interest earned at the nonforfeiture rate stated in the contract. MGSV ends upon the annuity date or contract termination.
Annuity payments
For guaranteed income for life or for a specified period, you can choose from among several annuity payment options for you and your spouse (if you purchase a joint contract).
Other features:
Reallocation
You have the flexibility to reallocate your index strategies at the end of the crediting method term if your needs, goals, or risk tolerance shift over time. With a range of choices, this also gives you the ability to diversify in changing markets.
Guaranteed death benefit
If you die before you begin receiving annuity income payments, Target Growth 10® guarantees that your beneficiary will receive at least the account value (including all the interest you’ve earned and minus any withdrawals taken) and may avoid probate.2
Index-linked options sponsored by a global leader
Morgan Stanley
Morgan Stanley is a leading global financial services firm with offices in New York City, London, Tokyo, Hong Kong, and other world financial centers. The firm provides investment banking, securities, wealth management, and investment management services to clients worldwide including corporations, governments, institutions, and individuals.
First Trust
At First Trust, their experience, history of innovation, and diversity of offerings are all part of their mission and are the only way they know to become a trusted financial professional. Because they consider each financial professional and their customers integral to their business, and truly our most valuable investment, they are committed to their best interests. They provide exceptional resources that help financial professionals define goals, solve problems, and develop long-term strategies to help their clients achieve their dreams and goals. They believe that this kind of leadership will provide the most fundamentally sound investment products and financial professional support available in today’s marketplace.
CIBC Capital Markets and Richard Bernstein Advisors LLC
CIBC Capital Markets works with domestic and international organizations looking for a banking relationship that combines in-depth industry knowledge with comprehensive capital markets, corporate banking and investment banking capabilities to address their most pressing needs. We strive to forge strong and deep relationships with our clients to understand the demands of their business and bring distinctive and appropriate solutions to the table.
Richard Bernstein Advisors LLC (RBA) is an investment manager focusing on longer-term investment strategies that combine top-down, macroeconomic analysis and quantitatively-driven portfolio construction. We strive to be the leading provider of innovative investment solutions for investors, and our competitive edge is our research-driven macro style of investing. Our top-down macro approach differentiates our firm from the more common, traditional bottom-up approach of most asset managers. Our extensive array of macro indicators allows us to construct portfolios for clients that are innovative, risk-controlled, and focused on overall portfolio construction instead of individual stock selection.
More about Target Growth 10®
Guaranteed principal protects your retirement money and growth potential helps prepare for the expected – and unexpected – in retirement.
Unlike other retirement products, a fixed index annuity is not an investment in individual securities.