Fixed annuity review and rates

Diamond Head

The Diamond Head MYGA (Multi-Year Guaranteed Annuity) is a single-premium, tax-deferred fixed annuity. The product is available for Non-Qualified, Traditional IRA, Roth IRA and SEP-IRA plans.

Crediting Rates
Your credited rate is guaranteed for the Guarantee Period selected. At the end of your Guarantee Period, you will have a 30-day window to surrender all or a portion of your account value without penalty. Or, you may do nothing and your funds will automatically roll into another guarantee period at the then current credited rate. In Texas, the minimum guaranteed interest after the initial guarantee period is 1.00% for contracts issued in 2021.

Free Look Period
When you receive your MYGA contract, you are given a 30-day “free look” period. If during this period you decide that you do not want the MYGA, you may return it to us for a full return of premium less any withdrawals made by you during those 30 days.

Penalty-Free Withdrawals
Beginning immediately after your free look period, you may withdraw up to 10% of your account value without a surrender charge. The limit on these penalty-free withdrawals is 10% per year. Withdrawals in excess of the penalty-free withdrawal limit will incur surrender charges; however, the “Life Events Rider” offers an additional opportunity for a penalty free withdrawal. The minimum withdrawal requirement is $500.

Life Events Rider
The Diamond Head MYGA offers an additional withdrawal of up to 10% of your account value for any reason without incurring a surrender charge. This rider is available at no additional cost, and can be exercised only once during the life of the contract.

Death Benefit
Beneficiaries will receive the full account value amount without incurring any surrender charges. If the sole Beneficiary is the surviving spouse of the Owner, the spouse may elect to continue this Policy as the new Owner. 

Interest Rates

Guaranteed Years Surrender Years Guaranteed Yield Current Yield
3 3 3% 3%
4 4 3% 3%
5 5 3% 3%
6 6 3% 3%
7 7 3% 3%
8 8 3% 3%
9 9 3% 3%
10 10 3% 3%

Riders

Name Inbuilt Fee
Life Events Yes None
Pacific Guardian Life Insurance Co
Founded: 1961
A.M. Best: A
S&P: A
Carrier details
Free withdrawal
10%
Types of funds
Non-Qualified, 401k, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, and 1035 Exchange