4.1
based on complex data
Annuity Educator Rating
Annuity review
Bankers Elite 9 (CA Only)
The Bankers Elite 9 annuity allows your hard-earned money to work for you with industry-leading rates and excellent service. With its range of interest rate guarantees, this product provides a secure alternative to CDs and other taxable vehicles. Each contract comes with an initial interest rate guarantee period of 3, 5, 7 and 9 years, ensuring your money is always earning interest.
The best part? This annuity offers tax-deferred savings and guaranteed interest rate, allowing your savings to grow faster. Plus, you never have to worry about stock market risk or unwanted charges. With no annual maintenance fees, 100% of your money goes into interest. Truly a product that supports your financial future!
Bankers Elite 9 (CA Only)
Your Email
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About Product
Premium Type
Single Premium
Fee withdrawal:
None
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$5,000
Maximum Contribution
$1,000,000
Max Age Qualified
65
Types Of Funds
Non-Qualified, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, Inherited IRA, NQ Stretch, and TSP
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 9 years | 5.15% |
Bankers Elite 9 is a Single Premium Deferred Annuity designed to accumulate money for retirement. It is suitable for use as an IRA or as an attractive alternative to CDs and other taxable vehicles. (Not available as 403(b) or SIMPLE IRA.) You can start your Bankers Elite annuity with a minimum premium of $10,000 (Non-Qualified) or $5,000 (Qualified).
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.
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.
Riders
No Riders for Bankers Elite 9 (CA Only) annuity.
Waivers
No Waivers for Bankers Elite 9 (CA Only) annuity.
Company Founded: 1958
Excellent Rated
Company
Company Ratings
5
- A.M. Best A-
Assets: $2,683,229,471
Oklahoma
