Bankers Elite 9
The Bankers Elite 9 Annuity is ideal for future-focused individuals looking to let their money work for them. With industry-leading rates, excellent service, and solid performance history, this annuity excels. It's also a single premium deferred annuity, offering multiple interest rate guarantees. It's an appealing choice if you're looking for an IRA or an alternative to CDs and other taxable vehicles. The tax deferral is a standout feature; your gains grow faster and you earn more in the long run.
Best of all, your investment won't be subjected to the ebbs and flows of the stock market. There are no front-end sales charges or annual maintenance fees to worry about either. In the end, you're guaranteed your accumulated value equals your premium paid and earned interest, minus any withdrawals. Death benefits, cash surrender value, and the absence of permanent surrender charges all contribute to this annuity's impressive offer.
Bankers Elite 9
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 9 years | 4.8% |
How Interest is Credited
Interest is credited at an initial interest rate guaranteed for the Initial Guarantee Period you select. At the end of the Initial Guarantee Period and each contract year thereafter, a new rate will be declared for the following contract year. Each year after the Initial Guarantee Period you select, the minimum guaranteed interest rate can vary between 1% and 3% from year to year. The minimum guaranteed interest rate is calculated each contract year after the Initial Guarantee Period by using the average of the five-year Constant Treasury Rate for each business day starting with October 15th of the preceding calendar year and ending with December 15th of the preceding calendar year, less one hundred twenty-five basis points, then rounded to the nearest 120th of 1%. This rate will not exceed 3% nor fall below 1%. Your interest is credited and compounded daily to yield our declared annual rate.
Liquidity
After the contract has been in force for thirty (30) days, you may withdraw a portion of your policy value by making a partial surrender. All partial surrenders (including required minimum distributions from qualified retirement accounts) will be reduced by any applicable surrender charges and MVA. The amount of a partial surrender must be at least one hundred dollars ($100). The remaining Accumulated Value after any partial surrender must be at least one thousand dollars ($1,000). A 10% IRS penalty may apply to all amounts withdrawn before the owner reaches age 59½.
Market Value Adjustment (MVA)
The Market Value Adjustment is an amount by which we adjust the Accumulation Value. An MVA will apply to a full surrender or to a partial withdrawal during the Initial Guarantee Period. The MVA may increase or decrease your Accumulation Value, depending on whether interest rates have fallen or risen from the time of purchase. If interest rates have declined, your Accumulated Value could be higher. If interest rates have increased, your Accumulated Value could be lower. The MVA is not assessed after the Initial Guarantee Period. Assets subject to MVA are not held in a separate account.
Note: we take TSP as a rollover to IRA.
Riders
No Riders for Bankers Elite 9 annuity.
Waivers
No Waivers for Bankers Elite 9 annuity.
- A.M. Best A-
