Milestone MYGA
The Milestone MYGA annuity stands out as a safe and reliable savings strategy for your retirement. It offers a guaranteed fixed interest rate, ensuring your hard-earned money isn't subject to market volatility. Plus, your gains are tax-deferred, meaning a higher accumulation over time!
The flexibility is another strong point - with penalty-free withdrawals and various guaranteed periods available. Also, Sagicor, the issuing company, is rated "A-" by A.M. Best Company, reaffirming their credibility. With Milestone MYGA, reaching your financial milestones seems more reassuring than ever.
Milestone MYGA
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 3.9% |
| 4 years | 4.1% |
| 5 years | 4.65% |
| 6 years | 5.2% |
| 7 years | 5.4% |
Premium Bands with different rate guarantees
- Low - $15,000 through $49,999
- Medium - $50,000 through $99,999
- High- $100,000 through $1,000,000
90.80% of the premium paid, accumulated at the nonforfeiture rate plus 1.00% in years 1-10, followed by the greater of the nonforfeiture rate less 1.50%, and 1.00% in year 11 and thereafter, adjusted by withdrawals
Penalty-Free Withdrawal
Beginning in the second contract year you may withdraw an amount equal to 10% of the last contract anniversary accumulation value without a surrender charge. There is a minimum withdrawal requirement of $500.
MVA
- No MVA
Required Minimum Distribution (RMD)
- The RMD is available beginning in Year 1.
- RMD withdrawals are free from Surrender Charges.
- Sagicor honors the ‘Spousal Exception’ where applicable for determining the RMD amount.
- There are Annual RMD or One Time RMD options available.
- Client can select that either/both Federal and State taxes or No taxes can be taken.
- Direct Deposit option is available with bank and account info.
- RMD requests can be submitted using Sagicor Upload Center, email, mail or fax.
Death Benefit
In the event of death, your beneficiary(ies) will be paid a death benefit equal to the accumulation account value of your annuity without surrender charges. A beneficiary may choose to receive the death benefit in either a lump sum or any of the available annuitization options.
Riders
No Riders for Milestone MYGA annuity.
Waivers
Surrender Window
You will have a 30-day penalty-free window following the end of the initial surrender charge period, at the beginning of each subsequent surrender charge period. During this timeframe, you can take a partial or total withdrawal of your principal and earned interest without being subject to a surrender charge.
- A.M. Best A-
