Sky Harbourview (CA Only)
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Single Premium Deferred Annuity with Market Value Adjustment (MVA).
Advantages of a Multi-Year Guaranteed Annuity:
Advantages of a Multi-Year Guaranteed Annuity:
- Principal Protection
- Guaranteed Interest Rates
- Tax-Deferred Earning Flexible Annuitization & Settlement Options
- Death Benefits For Beneficiaries
Issue Age
- 0 through 89 (non-qualified and qualified assets)
The issue age is 89 +364 days
Withdrawals
10% of Contract Value on or after the first year of Contract anniversary without Surrender Change penalty.
Minimum Withdrawal Amount = $250
Free Partial Withdrawals
After the first 12 months, up to 10% of account value is available for withdrawal without surrender charges, annually. Withdrawals in excess of the 10% free annual allowance will be subject to surrender charges and an MVA. The Minimum Withdrawal Amount is $250.
Surrender Charges
A surrender charge applies to all withdrawals over 10% during the contract term and reduces your contract value.
Market Value Adjustment
A Market Value Adjustment (MVA) applies to all withdrawals subject to Surrender Charges. The MVA may have the effect of increasing or decreasing the Surrender Value of the withdrawal depending on market interest rates. The Product Disclosure provided to you at the time of the application has additional details regarding the MVA.
Settlement Options
Life Only; Life with 10-Year Period Certain; Joint and Last Survivor with 10- Year Period Certain. (If Annuitized).
Contract Renewal Process
Withdrawals
10% of Contract Value on or after the first year of Contract anniversary without Surrender Change penalty.
Minimum Withdrawal Amount = $250
Free Partial Withdrawals
After the first 12 months, up to 10% of account value is available for withdrawal without surrender charges, annually. Withdrawals in excess of the 10% free annual allowance will be subject to surrender charges and an MVA. The Minimum Withdrawal Amount is $250.
Surrender Charges
A surrender charge applies to all withdrawals over 10% during the contract term and reduces your contract value.
Market Value Adjustment
A Market Value Adjustment (MVA) applies to all withdrawals subject to Surrender Charges. The MVA may have the effect of increasing or decreasing the Surrender Value of the withdrawal depending on market interest rates. The Product Disclosure provided to you at the time of the application has additional details regarding the MVA.
Settlement Options
Life Only; Life with 10-Year Period Certain; Joint and Last Survivor with 10- Year Period Certain. (If Annuitized).
Contract Renewal Process
at least thirty (30) days prior to the end of the Guarantee Period, we will send the client a notification indicating the date the Guarantee Period is ending.
Prior to the end of the Guarantee Period, the client may elect to:
- Continue the Contract for the same Guarantee Period at the declared renewal rate;
- Surrender the Contract without Surrender Charges or application of any Market Value Adjustment;
- Apply the Contract Value to a Settlement Option;
- Continue the Contract for another Guarantee Period that we make available at the time of renewal; or
- Take a partial withdrawal, with no Surrender Charges or Market Value Adjustment, and apply the remaining value to another Guarantee Period, which may be the same or different than the prior Guarantee Period.
If no election is made, the Contract will renew for the same Guarantee Period at the declared renewal rate.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.85% |
| 5 years | 4.85% |
| 7 years | 4.65% |
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 9 | 4.55% | 4.55% | 4.55% |