4.2
based on complex data
Annuity Educator Rating
Annuity review
DirectGrowth MYGA with Free Partial Surrender
DirectGrowth MYGA with Free Partial Surrender
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About Product
Premium Type
Single Premium with Additional
Fee withdrawal:
Interest only
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$25,000
Maximum Contribution
$1,000,000
Min Age Qualified
18
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, and IRA-Roth
Launch Date
03/12/2025
MYGA Interest Rates
| Term |
Rate
|
|---|---|
| 3 years | 5.75% |
| 5 years | 5.95% |
| 7 years | 5.9% |
| 10 years | 5.8% |
DirectGrowth is a Multi Year Guarantee Annuity, often referred to as a MYGA, is a fixed annuity designed for long term financial goals. Your principal grows tax deferred with a guaranteed fixed interest rate for your chosen term. With a MYGA, you also have the option to receive a guaranteed income stream.
Premiums
Premiums
- Minimum Premium - $25,000 (Qualified and Non-Qualified funds)
Maximum Premium - $1,000,000 (higher amounts will be considered and require company approval) - We will accept additional premium payments up to the amount of your initial premium on the same contract during the first 30 days after issue
- No premiums are accepted on the same contract after this time period
Benefits of DirectGrowth MYGA
- Guaranteed rates
Your fixed interest rate is guaranteed for the period you select: 3, 5, 7 or 10 years. Choose the interest guarantee period that fits into your personal financial plan. - Death benefit
A death benefit equal to the Cash Surrender Value (or Guaranteed Minimum Cash Surrender Value, if greater) is available to your beneficiary upon your death. - Principal protection
Your principal and interest earnings are protected, regardless of what happens to the markets. - Tax deferred growth
100% of your Accumulation Value grows tax deferred; taxes on growth are not paid until you withdraw your funds.
Free Partial Surrender Rider
You can withdraw up to the greater of:
You can withdraw up to the greater of:
- Your interest earnings potential each year (based on your Accumulation Value at the start of the year multiplied by the guaranteed fixed interest rate)
- Your Required Minimum Distribution amount (RMD)
*Your guaranteed fixed interest rate will vary depending on the rider(s) you select.
Market Value Adjustment (MVA)
The DirectGrowth MYGA comes with a MVA. The MVA applies only when the Surrender Charge applies. The MVA could increase or decrease the amount you receive from full or partial surrenders, depending on certain market interest rates.
Market Value Adjustment (MVA)
The DirectGrowth MYGA comes with a MVA. The MVA applies only when the Surrender Charge applies. The MVA could increase or decrease the amount you receive from full or partial surrenders, depending on certain market interest rates.
- If certain interest rates decrease, the MVA will be positive. A positive MVA increases the withdrawal amount or Cash Surrender Value.
- If certain interest rates increase, the MVA will be negative. A negative MVA decreases the withdrawal amount or Cash Surrender Value.
- The Cash Surrender Value will never be less than the Guaranteed Minimum Cash Surrender Value.
Annuitization and Payment Options
- Life with 5-Years Period Certain
- Life with 10-Years Period Certain
- 5-Years Period Certain
- 10-Years Period Certain
- Annuitization Value applied to annuitization. The Annuitization Value before annuity payments begin equals the Accumulation Value less any Surrender Charges and taxes payable but not previously deducted.
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Free Partial Surrender Rider | Yes |
Waivers
Surrender Window
There are no surrender charges during the first 30 days of each subsequent surrender charge period following renewal.
Company Founded: 1980
Good Rated
Company
Company Ratings
4.7
- A.M. Best B++
