Secure Rate MYGA
Highlights
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Premium Type
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Single Premium
|
|---|---|
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Max age Qualified
|
90
|
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Minimum Contribution
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$5,000
|
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Maximum Contribution
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$1,000,000
|
|
Market value adjustment
|
|
|
Return of premium
|
|
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Free withdrawal
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-100% |
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Launch date
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11/01/2023 |
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Types of funds
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Non-Qualified, 401k, IRA, TSA 403b, SEP IRA, IRA-Roth, and SIMPLE IRA |
Brochure
|
Open brochure |
Annual Free Withdrawals
During a Multi-Year Interest Guarantee Period, the Accumulated Interest earned in any year may be withdrawn without any Surrender Charges or Market Value Adjustment being applied in that year. Available upon the end of the 30-day right to examine.
Market Value Adjustment (MVA)
An MVA applies to full or partial surrenders in excess of the Free Partial Surrender Amount during a Multi-Year Interest Rate Guarantee Period. The MVA may increase or decrease the Cash Surrender Value or Withdrawal amount.
Death Benefit
The death benefit will equal the Accumulation Value on the date of death. The death benefit will not be reduced by any negative Market Value Adjustment nor increased by any positive Market Value.
Find out if the Secure Rate MYGA is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 5.65% |
| 5 years | 5.8% |
| 7 years | 5.8% |
| 10 years | 5.8% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| 5% Free Withdrawal Rider | No | 0.10% rate reduction |
| Enhanced Benefit Rider | No | 0.15% rate reduction |
Waivers
Surrender Window
When a Guarantee Period ends, the annuity will enter a 30-day renewal period (“30-Day Window”). Up to the end of the 30-Day Window, you may: 1. Renew contract for another Guarantee Period that is the same as the current; 2. Surrender the contract without penalty; 3. Take a partial withdrawal without penalty; or 4. Apply the Accumulation Value to a Payment Option. If one of the available options is not elected by the end of the 30-Day Window, the contract will automatically renew for another multi-year interest rate guarantee period at the same duration as the initial multi-year interest rate guarantee period.
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