Secure Rate MYGA with Enhanced Benefit Rider
Secure Rate MYGA with Enhanced Benefit Rider
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 5.1% |
| 5 years | 5.5% |
| 7 years | 5.6% |
| 10 years | 5.6% |
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During a Multi-Year Interest Guarantee Period, the Accumulated Interest earned in any year may be withdrawn without any Surrender Charges or Market Value Adjustment being applied in that year.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.
Enhanced Benefit Rider
This rider lets you withdraw up to 100% of the Accumulation Value for one of the following conditions.
1. Terminal illness diagnosis, defined as a medical condition that results in an expected life span of 12 months or less.
2. Qualified nursing care facility confinement, including a hospital or hospice, intermediate or skilled nursing facilities.
*This rider is subject to a one-year benefit ineligibility period and will terminate upon a change of ownership except for spousal continuation following the death of an owner.
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Enhanced Benefit Rider | No | 0.15% rate reduction |
Waivers
Nursing Home
This rider lets you withdraw up to 100% of the Accumulation Value. Qualified nursing care facility confinement, including a hospital or hospice, intermediate or skilled nursing facilities. This rider is subject to a one-year benefit ineligibility period and will terminate upon a change of ownership except for spousal continuation following the death of an owner.
Terminal Illness
This rider lets you withdraw up to 100% of the Accumulation Value. Terminal illness diagnosis, defined as a medical condition that results in an expected life span of 12 months or less. This rider is subject to a one-year benefit ineligibility period and will terminate upon a change of ownership except for spousal continuation following the death of an owner.
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 surrender the contract without penalty.
- A.M. Best B++
