Excelera Plus MYGIA
The Excelera Plus MYGIA is an excellent fixed annuity choice tailored specifically for those aiming to hit long-term financial targets. Offering tax-deferred growth and protection from market downturns, it also provides an option for guaranteed income in your golden years. One standout feature is the Best Interest Crediting, unique to Excelera Plus.
This product gives you the highest of the fixed interest and indexed interest, ensuring you never receive less than the guaranteed fixed rate. Plus, if the market performs well, you could end up with larger profits! It's straightforward, and with both the Fixed Interest Crediting Rate and Participation Rate guaranteed for the term, it certainly seems designed for those planning ahead for a comfort-filled retirement.
Excelera Plus MYGIA
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4% |
| 5 years | 4% |
| 7 years | 4% |
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.
Issue Age
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)
Death Benefit
The Accumulation Value at time of death, plus any positive MVA
- Surrender charges do not apply to death benefits paid. The Death Benefit will not be reduced by any negative MVA.
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.
Please see the Indexed Interest Crediting Option
Riders
No Riders for Excelera Plus MYGIA 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.
- A.M. Best B++
