Staysail Select
Staysail Select
Does Staysail Select make your top 3?
Our clients typically get 23% more income than their first quote.
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 5.8% |
| 5 years | 5.85% |
| 7 years | 6.1% |
Guarantee Period
Select between 3, 5, or 7 Years. Compound interest is credited daily and is guaranteed for the entire Guarantee Period (GP). Only one GP may be elected per Contract.
Free Withdrawals
- Year 1: 0% other than Required Minimum Distribution (RMD).
- Year 2+: 10% of prior anniversary Contract Value
Required Minimum Distributions (RMDs)
Market Value Adjustment (MVA)
A Market Value Adjustment (MVA) may apply to any surrender or withdrawal exceeding the allowed Free Withdrawal Amount. The MVA may increase or decrease the amount received from the withdrawal.
Annuitization
After the first contract anniversary, the Contract Value may be annuitized under any available annuitization options in the contract. Withdrawal charges and MVA do not apply to annuitization.
Death Benefit
Upon death, the Contract Value will be paid to the designated beneficiary. The death benefit is free of withdrawal charges and MVA.
Year by Year Account Balance
Riders
No Riders for Staysail Select annuity.
Waivers
Death
The death benefit is free of withdrawal charges and MVA
Terminal Illness
100% of the Contract Value may be withdrawn free of withdrawal charges or MVA. Eligibility requires a terminal illness diagnosis to be made by a licensed physician resulting in a life expectancy of 12 months or less. The initial diagnosis must occur after the Contract Issue Date.
Extended Care
100% of the Contract Value may be withdrawn free of withdrawal charges and MVA if the Contract Owner is confined to a qualified nursing home or hospital for 90 consecutive days, starting after the Contract Issue Date.
RMD
Withdrawal Charge/MVA does not apply
- A.M. Best A-
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