Staysail MYGA
Staysail MYGA
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 5.31% |
| 5 years | 5.35% |
| 7 years | 5.25% |
Guaranteed Option Period (GOP)
Select between 3, 5, or 7 Years. Simple interest is credited daily and is guaranteed for the entire term. Only one GOP may be elected per contract.
Withdrawals
No free withdrawals available. If elected, any withdrawals, excluding RMDs, may be subject to withdrawal charges and market value adjustment. In exchange for a rate reduction, 10% free withdrawals are available annually based on the Accumulated Value at the beginning of the most recent Contract Year.
Market Value Adjustment (MVA)
A Market Value Adjustment (MVA) may apply to any withdrawals exceeding the allowed free withdrawal amount for any GOP. The MVA may increase or decrease the amount received from the withdrawal.
Annuitization
After the first Contract Year, the Contract’s full Accumulated Value may be annuitized under any available annuity options in the Contract.
Death Benefit
Upon death, the full Accumulated Value will be paid to the Beneficiary. The Death Benefit is free of withdrawal charges or MVA.
Riders
No Riders for Staysail MYGA annuity.
Waivers
Death
The Death Benefit is free of withdrawal charges or MVA.
Terminal Illness
Waiver provides access to 100% of the Accumulated Value up to a maximum of $250,000. Eligibility begins after the first Contract Anniversary and is available for an Owner or Joint Owner. Diagnosis may have occurred at any time on or after the Contract Issue Date. Diagnosis must be made by a certified physician that death will occur in 12 months or less following the physician’s statement. Not available in all states.
Extended Care
Waiver provides access to 100% of the Accumulated Value up to a maximum of $250,000. Eligibility begins after the first Contract Anniversary and is available for an Owner or Joint Owner. Must be confined to a qualified Hospital or Nursing Home for 90 consecutive days, starting after the Contract Issue Date. Not available in all states.
- A.M. Best A-
