Guaranty Rate Lock (3-4-5)
The Guaranty Rate Lock Annuity is a relief for those worried about market swings and yearning for financial peace. It guarantees rates for 3 to 10 years, providing an assurance that your investments grow without the threat of volatility. At the same time, it offers tax-deferred growth - an efficient way to build wealth while you can control when to withdraw and pay tax at potentially lower rates.
Also, it stands out with no upfront charges or annual fees, meaning every penny you put in starts working for you immediately. Plus, you get to decide when and how to liquidate, offering a flexibility that can cater to varied financial situations. Should you need the capital, options are available through Required Minimum Distributions or Free Partial Withdrawals. Lastly, this annuity is backed by Guaranty Income Life Insurance Company's substantial financial strength, boosting your confidence in this product for your future.
Guaranty Rate Lock (3-4-5)
Ratings:
- A.M. Best A-
- Comdex 59
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 3.6% |
| 4 years | 3.8% |
| 5 years | 4.1% |
- 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.
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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