Excelera Plus MYGIA 3 - Indexed Interest Crediting
The Excelera Plus MYGIA 3 excels as a dependable option for financial planning. With Indexed Interest Crediting, your hard-earned money isn't just sitting - it's growing! This makes it perfect for those nearing or enjoying retirement.
Its safety of principal ensure peace of mind - your nest egg is protected against market downsides. If planning for the future seems daunting, Excelera Plus MYGIA 3 eases the way with its reassuring predictability.
Excelera Plus MYGIA 3 - Indexed Interest Crediting
Ratings:
- A.M. Best B++
About Product
Non-Qualified: $50,000
With the Best Interest Crediting feature included in the Excelera Plus MYGIA, the interest credited is the greater of the guaranteed fixed interest and the indexed interest. Interest crediting will never be less than the guaranteed fixed interest rate but could be higher if the market performs well. It's that simple.
Both Fixed Interest Crediting Rate and Participation Rate are guaranteed for the term.
Please see the Guaranteed Fixed Interest Option
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 3-Year S&P 500 PTP Participation Rate |
Point to Point
Triennial
|
50%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 |
|---|---|---|---|
| Penalty | 9% | 8% | 7% |
Riders
No Riders for Excelera Plus MYGIA 3 - Indexed Interest Crediting annuity.
Waivers
Death
Surrender charges do not apply to death benefits paid. The Death Benefit will not be reduced by any negative MVA.
Nursing Home
Surrender Charges and MVA will be waived if one of the following events occurs: 1. The Contract Owner becomes confined to a nursing home for at least 90 consecutive days on or after the Contract Date; 2. The Contract Owner is confined for a total of at least 90 days if there is no more than a 6-month break in the confinement and the confinements are for related causes.
Terminal Illness
Surrender Charges and MVA will be waived if the Contract Owner becomes terminally ill or injured in such a way that they are not expected to live more than 12 months.
Surrender Window
There are no surrender charges during the first 30 days beginning immediately at the end of the Initial Guarantee Period or any subsequent Guarantee Periods.
Premium Notes
18-85 (Qualified funds)
18-90 (Non-Qualified funds)
Min Premium
$25,000 for Qualified Contracts,
$50,000 for Non-Qualified Contracts
Max Premium
$1,000,000 (higher amounts will be considered and require company approval)
Withdrawal Provisions
If the Contract is renewed for a second term, free partial surrenders up to 10% of the Accumulation Value may be taken each year.
Required Minimum Distribution
RMDs can be taken without incurring a Surrender Charge.
Renewal Process
Excelera Plus can be renewed for 1 additional term. If the Contract Owner takes no action, the contract will be renewed for the same Guarantee Period. Fixed Rates and Indexed Participation Rates may change at renewal.
No renewals are allowed at the end of the second Multi Year Guaranteed Period. Surrender Charges and MVA will no longer apply, and we will declare a fixed rate that can change in each future Contract Year. The Best Interest Crediting Option will no longer be available.
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