Excelera MYGA
Get an annuity today!
Learn how an annuity can provide guaranteed income for life.
Highlights
|
Premium Type
|
Single Premium
|
|---|---|
|
Free withdrawal
|
0% |
|
Types of funds
|
Non-Qualified, and IRA |
Brochure
|
Open brochure |
Excelera Multi Year Guarantee Annuity, often referred to as a MYGA, is a fixed annuity designed for long-term financial goals. Your principal grows with a guaranteed fixed interest rate for your chosen term and funds in the MYGA grow tax deferred. With a MYGA, you also have the option to receive a guaranteed income stream later in life.
Excelera offers Guarantee Periods of 3, 5 and 7 years. Your fixed rate is set at the start of your Contract and is guaranteed for its full term.
You can purchase an Excelera MYGA with a minimum premium of $25,000 for qualified funds and $50,000 for non-qualified funds.
Issue Ages
0-85 (Qualified funds)
0-90 (Non-Qualified funds)
Annuitization Payment Options
Your Contract may be annuitized without Surrender Charge or MVA at any time after the third contract year, provided that a life contingent or period certain of 8-10 years is elected.
Market Value Adjustment (MVA)
The Excelera 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 Surrender or a withdrawal in excess of the free amount, depending on certain market interest rates. (Please review your contract for complete details.)
Free Partial Withdrawals
If your Contract is renewed for a second term, free partial withdrawals up to 10% of the Accumulation Value may be taken each year without incurring Surrender Charges or MVA.
RMDs
The Contract Owner can access required IRS Required Minimum Distributions (RMDs) without incurring a Surrender Charge.
Death Benefit
Equals the Accumulation Value at time of death plus any positive MVA.
Excelera offers Guarantee Periods of 3, 5 and 7 years. Your fixed rate is set at the start of your Contract and is guaranteed for its full term.
You can purchase an Excelera MYGA with a minimum premium of $25,000 for qualified funds and $50,000 for non-qualified funds.
Issue Ages
0-85 (Qualified funds)
0-90 (Non-Qualified funds)
Annuitization Payment Options
Your Contract may be annuitized without Surrender Charge or MVA at any time after the third contract year, provided that a life contingent or period certain of 8-10 years is elected.
Market Value Adjustment (MVA)
The Excelera 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 Surrender or a withdrawal in excess of the free amount, depending on certain market interest rates. (Please review your contract for complete details.)
Free Partial Withdrawals
If your Contract is renewed for a second term, free partial withdrawals up to 10% of the Accumulation Value may be taken each year without incurring Surrender Charges or MVA.
RMDs
The Contract Owner can access required IRS Required Minimum Distributions (RMDs) without incurring a Surrender Charge.
Death Benefit
Equals the Accumulation Value at time of death plus any positive MVA.
- Surrender Charges do not apply to the death benefits paid. The Death Benefit will not be reduced by any negative MVA.
- Death Benefits are paid on the death of the owner(s) unless the owner is a non-natural person (eg. Trust). If the owner is a non-natural person, the death benefit is paid on the death of the annuitant.
Renewal Process
The Contract Owner will be sent a notification at least 30 days prior to the end of the Initial Interest Guarantee Period notifying them of when the Guarantee Period is ending and of go-forward options.
If the Contract Owner does not make any election, the Contract will renew for the same Guarantee Period at a credited rate declared by us at the time of the renewal, and a new Surrender Charge Period will begin.
The Contract Owner will be sent a notification at least 30 days prior to the end of the Initial Interest Guarantee Period notifying them of when the Guarantee Period is ending and of go-forward options.
If the Contract Owner does not make any election, the Contract will renew for the same Guarantee Period at a credited rate declared by us at the time of the renewal, and a new Surrender Charge Period will begin.
Find out if the Excelera MYGA is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 5.5% |
| 5 years | 5.5% |
| 7 years | 5.65% |
Riders
No Riders for Excelera MYGA annuity.Ready to Protect Your Financial Future?
Request a free quote or talk to our financial expert to get help