Fixed annuity review and rates

Nassau Simple Annuity

Nassau Simple Annuity is a single-premium, multi-year guaranteed annuity, or MYGA, that offers you protection from market volatility, a choice of 4 or 6 year guarantee periods, and a 5% free withdrawal each year. You may purchase the product online directly from the company.

Free Withdrawals
Annual free withdrawals up to 5% are available (if elected at issue) without a surrender charge or market value adjustment (MVA) applied 

Market Value Adjustments (MVA)
  • Applies for the life of the contract, subject to certain restrictions.
  • During the 30-day window at the end of the initial Guarantee Period, the contract owner can surrender any amount of the contract without a surrender charge and without an MVA.
  • Applies to any withdrawal or surrender in excess of the Free Withdrawal option selected at issue
  • Can be positive or negative. There is no limit on a positive MVA.
  • Adjustment will never reduce the contract value below the Total Guaranteed Value (TGV).
Annuitization Options
You may choose to annuitize after the first contract year with no penalty. There are currently seven annuity payment options available from which to choose.

Available Spousal Continuation
If the spouse of a deceased owner is the beneficiary, the surviving spouse has the option to elect to continue the contract as the new owner. In the case of a non-qualified contract, the surviving spouse must be the sole beneficiary.

Death before the contract maturity date
A death benefit will be paid upon the death of a contract owner, or annuitant if the contract is owned by a trust, following the date the company receives a certified death certificate or an order of a court of competent jurisdiction. The death benefit is equal to the greater of the contract value or the total guaranteed value (TGV) as of the date of death. No surrender charge or MVA will apply.

Death on or after the contract maturity date
If the owner dies on or after the contract maturity date, any remaining annuity payments will be paid to the beneficiary under the payment option in effect on the date of death. Payments may not be deferred or otherwise extended. If there is a surviving owner, the payments continue as if there had been no death.

Interest Rates

Guaranteed Years Surrender Years Guaranteed Yield Current Yield
6 6 5.1% 5.1%
4 4 4.85% 4.85%
Nassau Financial Group
Founded: 1851
A.M. Best: B++
S&P: B++
Carrier details
Free withdrawal
5%
Types of funds
Non-Qualified, IRA, Spousal IRA, IRA Rollover, SEP IRA, IRA-Roth, and TSP