MultiVantage
The MultiVantage annuity product is an excellent choice for those who want a reliable retirement plan. It's a single premium deferred annuity that offers a solid mix of stability and flexibility. This product gives users the options to choose their rate guarantees from 4, 5, 7, to 10 years, which is topped with an additional 1% interest rate in the first year. Definitely, a great way to enhance savings and ensure financial security.
But it's more than just a savings product. MultiVantage gives users easy access to their money too, allowing them to withdraw up to 10% of their account value each contract year without any charges. And it's a great choice for tax management as it allows for tax-deferred growth, boosting your wealth while minimizing tax liabilities. Furthermore, it also offers a death benefit protection and comes with a range of income options ensuring future security. The annuity is a solid addition to any retirement plan.
MultiVantage
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 4 years | 3.8% |
| 5 years | 3.85% |
| 7 years | 3.64% |
| 10 years | 3.9% |
Issue Ages
18-89 owner and annuitant.
Min Premium
- $20,000
- $1,000,000 for age 18-75;
- $750,000 for age 76-89 without approval.
- Initial fixed interest GRO periods of 4, 5, 7 and 10 years are available. GROs are credited with annual effective interest rates, taking into account daily compounding of interest. Account value may be allocated to one GRO period only. GROs may change or may not be available for renewal.
- 1% first-year-only interest rate enhancement, in addition to the guaranteed initial rate, applies for each GRO.
- The initial rate is guaranteed for the length of the GRO period. At the end of the initial GRO period, you may choose a new 4-, 5-, 7- or 10-year GRO at the then-current interest rate or default to a 1-year guarantee period.
- Beginning immediately, up to 10% of the account value (noncumulative) may be withdrawn each contract year without a withdrawal charge or a market value adjustment (MVA).
- After withdrawals, there must be at least a minimum account value of $2,000 remaining in the contract. The $250 minimum withdrawal amount is reduced to $100 if taken through a systematic withdrawal program, free of charge.
- At the death of the owner during the deferral period, Integrity Life or National Integrity Life guarantees that the designated beneficiary who survives the owner’s death will receive the account value as of the date the death claim is processed.
- Death benefit proceeds will be paid directly to the beneficiary without the delay and expense of probate. No withdrawal charge or MVA applies.
Choose scheduled payments guaranteed to continue for a lifetime, with a 10-year period certain (single or joint). Other options may be available. Income payment guarantees are backed by the claims-paying ability of Integrity Life or National Integrity life.
Market Value Adjustment (MVA)
During a guarantee period of more than one year, which is called a Guaranteed Rate Option (GRO), an MVA applies to annuity options and withdrawals in excess of the free withdrawal amount. The MVA reflects the effect of the change in the interest rates we offer between the time the GRO was selected and the time the MVA is applied. Generally, if interest rates increase, the MVA reduces your contract’s value. On the other hand, if interest rates decrease, the MVA increases your contract’s value. The MVA will not result in a value of less than the contribution applied at the beginning of the current GRO, minus withdrawals taken during the current GRO (including any withdrawal charge, but not considering any MVA), plus interest credited at the guaranteed minimum interest rate. Withdrawal charges may reduce this amount. An MVA does not apply during the last 30 days of the GRO or to the death benefit.
Riders
No Riders for MultiVantage annuity.
Waivers
Death
No withdrawal charge or MVA applies.
Hospital
Unavailable in states: CA
Confinement waiver available on or after the first contract anniversary after the owner is confined for at least 60 consecutive days.
Nursing Home
Unavailable in states: CA
Confinement waiver available on or after the first contract anniversary after the owner is confined for at least 60 consecutive days. The nursing home waiver does not include home health care.
Terminal Illness
Unavailable in states: CA
Limited life expectancy waiver available if, after the contract date, the owner is diagnosed as having a life expectancy of 12 or fewer months.
Surrender Window
An MVA does not apply during the last 30 days of the GRO.
- A.M. Best A+
- Fitch AA
- S&P AA-
- Moody's Aa3
- Comdex 95
