Pinnacle MYGA
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Learn how an annuity can provide guaranteed income for life.
Pinnacle MYGA is a single premium tax-deferred fixed rate annuity with multiple interest rate guarantee periods. For people who are concerned about market volatility, it provides a simple, steady, guaranteed way to build retirement savings without the risk of investing in stocks, bonds or mutual funds. If you have a separate, large sum you’d like to protect and potentially grow to supplement your retirement income, Pinnacle MYGA® offers:
- A guaranteed, fixed interest rate for the period you select.
- Protection of your principal.
- Tax-deferred growth until you take withdrawals.
- Three income payment options.
Ownership Requirements
Owner must be the annuitant, except when a trust is the owner.
Premium
Owner must be the annuitant, except when a trust is the owner.
Premium
- Minimum: $10,000 non-qualified; $5,000 qualified.
- Maximum: $1,000,000 per owner without Delaware Life approval.
Free Withdrawals of up to 10% each year
After the first contract year, up to 10% of the anniversary account value per year or annual required minimum distribution (RMD) can be withdrawn without incurring a surrender charge or market value adjustment (MVA).
Market Value Adjustment (MVA)
Adjustment applied to withdrawals and surrenders in excess of the 10% free withdrawal limit made at any other time than the 30-day window prior to the end of a guarantee period based on the difference between the credited rate on the contract and the rates being offered on renewals. MVA does not apply to penalty-free withdrawals, the payment of a death benefit, or at the end of the guarantee period. State variations may apply.
Systematic Withdrawals
May be taken annually, semi-annually, quarterly or monthly
After the first contract year, up to 10% of the anniversary account value per year or annual required minimum distribution (RMD) can be withdrawn without incurring a surrender charge or market value adjustment (MVA).
Market Value Adjustment (MVA)
Adjustment applied to withdrawals and surrenders in excess of the 10% free withdrawal limit made at any other time than the 30-day window prior to the end of a guarantee period based on the difference between the credited rate on the contract and the rates being offered on renewals. MVA does not apply to penalty-free withdrawals, the payment of a death benefit, or at the end of the guarantee period. State variations may apply.
Systematic Withdrawals
May be taken annually, semi-annually, quarterly or monthly
- Minimum amount is $100.
- Minimum account value of $2,000 must be maintained.
Annuitization Options
- Life annuity.
- Life annuity with “period certain” (minimum number of years).
- Joint and last survivor annuity Cannot occur during the first contract year.
Death Benefit
If you die before you begin receiving annuity income payments, your beneficiary(ies) will receive the account value of your annuity, including all the interest you’ve earned, minus any adjustments for charges and taxes.
If you die before you begin receiving annuity income payments, your beneficiary(ies) will receive the account value of your annuity, including all the interest you’ve earned, minus any adjustments for charges and taxes.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 3.15% |
| 5 years | 3.4% |
| 7 years | 3.7% |