Guaranty Rate Lock (6-7-8-9-10)
Guaranty Rate Lock annuity is like a peace-keeper for your finances. With a guaranteed rate and tax-deferred growth, it makes your money grow without worries. The product's power lies in the ability to earn interest on your principal, your interest, and even on the money you'd normally pay in taxes! The best part is that you don’t pay tax on the earned interest until you withdraw it. This annuity provides financial certainty as the company maintains your rate for the chosen period while insulating your funds from market fluctuations.
What really shines is its flexibility! You choose your time frame and at the end of your term, you decide what to do next - renew for another term or generate a constant income stream for retirement. No front-end, annual fees, or hidden costs so 100% of your hard-earned money is working for you from day one. The Guaranty Rate Lock annuity keeps wealth protection truly simple, and straightforward. With affordable charges and concrete guarantees, your retirement plan will not look any better!
Guaranty Rate Lock (6-7-8-9-10)
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 6 years | 4% |
| 7 years | 4% |
| 8 years | 4% |
| 9 years | 4% |
| 10 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 (6-7-8-9-10) 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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