Guaranty Rate Lock (3-4-5)
Highlights
Premium Type
|
Single Premium
|
---|---|
Max age Qualified
|
100
|
Minimum Contribution
|
$10,000
|
Maximum Contribution
|
$1,000,000
|
Market value adjustment
|
|
Return of premium
|
|
Free withdrawal
|
5% |
Launch date
|
10/01/2020 |
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, and IRA-Roth |
Brochure
|
Open brochure |
- Free Partial Withdrawals- up to 5% of prior anniversary accumulation value or RMD, starting in year 2, $250 Minimum
- Systematic Withdrawals- Free Partial or RMD available in monthly, quarterly, semi-annual or annual payments
- Terminal Illness & Nursing Home Confinement Waiver of Surrender Charges & MVA- Surrender Charges and MVAs will be waived for a Full or Partial Surrender if qualifications are met.
MVA
A market value adjustment is applied only during the surrender charge period to full surrenders and any partial surrender in excess of the Free Partial Surrender available. A market value adjustment is not applied to the Death Benefit or to any applicable Free Partial Surrender Amount.
Issue Ages
- 0-100 (3 - 5 year surrender periods)
- 0-90 (6 - 10 year surrender periods)
Non-Qualified, IRA, Roth IRA:
- $10,000 - $1,000,000 through age 90
- $10,000 - $200,000 for ages 91 - 100
During the 30 days following the end of any Guarantee Period, the policy owner has the following options:
- Choose a subsequent Guarantee Period of any duration available, at applicable rates at that time.
- Apply the Accumulation Value to an Annuity Payout Option.
- Surrender all or some of the Contract for the Accumulation Value, without Surrender Charges and/or MVA.
- Take no action and the Contract will automatically renew for a subsequent Guarantee Period with the same duration as the preceding Guarantee Period for the interest rate in effect at that time.
Find out if the Guaranty Rate Lock (3-4-5) is the right product for you.
MYGA Interest Rates
Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
---|---|
3 years | 4.9% |
4 years | 4.9% |
5 years | 5.25% |
Riders
No Riders for Guaranty Rate Lock (3-4-5) annuity.
Waivers
Nursing Home
Nursing Home Confinement Waiver of Surrender Charges & MVA - Surrender Charges and MVAs will be waived for a Full or Partial Surrender if qualifications are met. Issue age max is 75 to include Nursing Home waiver. The nursing home waiver does not include home health care.
Terminal Illness
Terminal Illness - Surrender Charges and MVAs will be waived for a Full or Partial Surrender if qualifications are met.
Surrender Window
During the 30 days following the end of any Guarantee Period, the policyowner has the following options: 1. Choose a subsequent Guarantee Period of any duration available, at applicable rates at that time. 2. Apply the Accumulation Value to an Annuity Payout Option. 3. Surrender all or some of the Contract for the Accumulation Value, without Surrender Charges and/or MVA. 4. Take no action and the Contract will automatically renew for a subsequent Guarantee Period with the same duration as the preceding Guarantee Period for the interest rate in effect at that time.
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