4.7
based on complex data
Annuity Educator Rating
Annuity review
Anchor MYGA with 10% Free Withdrawal Rider
American Gulf (originally founded as Gulf Guaranty Life Insurance Company in 1970) is a Mississippi-based life insurance company focused on providing fixed annuity and retirement solutions. With over 50 years of experience, the company offers products designed to help individuals grow and protect their savings with guaranteed interest rates and principal protection. Through its Anchor MYGA fixed annuity, American Gulf provides simple, secure options for long-term financial planning.
Anchor MYGA with 10% Free Withdrawal Rider
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About Product
Premium Type
Single Premium
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
89
Types Of Funds
Non-Qualified, Traditional IRA, SEP IRA, IRA-Roth, and 1035 Exchange
Launch Date
09/12/2025
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 5 years | 6.15% |
| 6 years | 6.15% |
| 7 years | 6.15% |
Anchor Multi-Year Guaranteed Annuity (MYGA) is a Single Premium Deferred Annuity with Market Value Adjustment (MVA). Growth is based off the interest rate of the annuity, and will increase steadily throughout the term of your contract. Since there is no market risk associated with a fixed annuity, your principal (the money you put in at the start of your contract) is guaranteed to grow at a fixed, steady rate, for a set period of time, making a fixed annuity a reliable place to put money you want to protect before retirement.
- Choose your premium amount (Minimum $10,000; up to $1,000,000 without prior approval).
- Select your guarantee period (5, 6, or 7 years) and lock in your fixed rate for that term.
- Watch your savings grow as interest is credited and compounds daily, guaranteed for the entire term.
Free Partial Withdrawal Rider
Beginning in the second Contract Year, you may withdraw up to 10% of the Contract Value as of the last Contract Anniversary each Policy Year without incurring a Surrender Charge or Market Value Adjustment (MVA). Withdrawals may be taken in multiple transactions, subject to a $500 minimum, provided the total does not exceed the annual free withdrawal amount.
Note: If an RMD is taken, the Free Partial Withdrawal amount is limited to the greater of the RMD or 10% Fre e Partial Withdrawal Percentage.
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Free Partial Withdrawal Rider | Yes | 0.15% annually |
| Death Benefit Rider | No | 0.15% rate reduction |
| Terminal Illness Rider | No | 0.05% rate reduction |
| Nursing Home Confinement Rider | No | 0.05% rate reduction |
Waivers
Surrender Window
You’ll receive a renewal notice 30 days before the end of each guarantee period, including updated rates and charges. You may take a partial withdrawal (no surrender charge or MVA) and renew the remaining balance, or surrender the contract (no surrender charge/MVA) within the renewal window.
RMD
RMDs taken from Qualified Contracts will not be subject to Surrender Charges or Market Value Adjustments, provided they are calculated in accordance with IRS rules and determined by the Company.
Company Founded: 1970
Good Rated
Company
Company Ratings
4.2
- A.M. Best B++
Assets: $29,334,282
Mississippi
