Premium Preferred
The Premium Preferred annuity by Manhattan Life Insurance is a single premium fixed deferred annuity that's secure and trustworthy. Your investment and interest are 100% guaranteed, providing a reassuring sense of security. One key advantage here is tax deferral - you won't pay tax on the interest until you withdraw it, which keeps your money working for you.
In addition to the safety, the product also offers flexible distributions. You can set it up for regular scheduled distributions and even adjust the frequency as per your needs. Premium Preferred is perfect for those worried about outliving their savings, as it's designed to be a reliable retirement partner. Plus, the annuity guarantees return of premiums and waives surrender charges upon death, which can ease inter-generational wealth transfers and reduce associated fees.
Premium Preferred
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 5 years | 4% |
| 7 years | 4.25% |
Guaranteed Premium Return
The Premium Preferred annuities provide that the Surrender Value will never be less than the premium paid, minus any Partial Surrenders taken.
Beginning the first year, you can partially surrender up to 15% of the Annuity Value without fees or charges.
Flexible Distribution Options
Premium Preferred annuities can be set up to make regular periodic distributions, such as monthly interest. Partial surrenders may be made on a monthly, quarterly, semi-annual or annual basis and need to be set up as Electronic Fund Transfer (EFT).
Death Benefits
If the Annuitant dies, surrender charges will be waived. The Annuity Value is payable as a single sum or under an available settlement option. If the Non-Annuitant Owner dies during the Surrender Charge Period, the Surrender Value shall be paid out.
Riders
No Riders for Premium Preferred annuity.
Waivers
Death
If the Annuitant dies before payments have begun under a Settlement Option, surrender charges are waived. If the Annuitant and Owner are not the same person, and the Owner dies while the Annuitant is still alive, surrender charges are not waived.
- A.M. Best B++
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