3-Year MYGA
3-Year MYGA
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.8% |
The minimum contribution amount is $10,000.
Other than the Surrender Charge, KSKJ Life will not deduct fees, charges, or loading amounts from contributions or the Accumulated Fund Value either before or at the Maturity Date.
Settlement Options
You may elect to have the Society pay a monthly income to the Annuitant or a Beneficiary you select under a Settlement Option. Payments under Settlement Options must meet any certificate minimum amount requirements.
Penalty-free withdrawals are available through riders. These riders will result in a reduction of the crediting rate.
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Penalty Free Withdrawal Rider | No | 0.15% rate reduction |
| Required Minimum Distribution Rider | No | 0.10% rate reduction |
Waivers
Death
After the first contract year, KSKJ Life will waive any Surrender Charge otherwise applicable if the Accumulation Value is paid due to the Annuitant's death.
Nursing Home
Allows the owner to withdraw 50% of the value if the owner is confined to a Nursing home for 60 continuous days or more. There is no charge for this benefit.
Terminal Illness
Allows the owner to withdraw 50% of the value if the owner is diagnosed with a terminal illness. There is no charge for this benefit.
Annuitization
After the first contract year, KSKJ Life will waive any Surrender Charge otherwise applicable if the Accumulation Value is paid if a Settlement Option is selected.
Surrender Window
After the initial guarantee period, if an owner does not choose one of the options provided, the contract will automatically renew for another multi-year period of the same duration. Surrender charges will be waived within the first 30-days of the new multi-year guarantee period, but will apply after that 30-day period.
- A.M. Best -
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