Best Guaranteed Annuity Rates

Milestone MYGA

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The Sagicor Life Insurance Company's Milestone MYGA 3, 4, 5, 6, 7 is a Single Premium Deferred Annuity with 3, 4, 5, 6 or 7 year surrender charge periods, that earns a guaranteed fixed interest rate. There is no market risk loss so the premium and interest credited are safe.

Premium Bands with different rate guarantees
  • Low - $15,000 through $49,999
  • Medium - $50,000 through $99,999
  • High- $100,000 through $1,000,000
Guaranteed Surrender Value
The Guaranteed Surrender Value equals 87.5% of the single premium paid, accumulated at the nonforfeiture rate, adjusted by net withdrawals plus surrender charges, if any.
For California this value is 90.8% of the premium paid, accumulated at the nonforfeiture rate plus 1.00%, in years 1-10, followed by the greater of the nonforfeiture rate less 1.50%, and 1.00% in year 11 and thereafter, adjusted by net withdrawals. 

At the end of the guarantee period, a 30-day penalty-free window begins. Written notice is provided 45 days in advance of the start of the penalty-free window period. During the “window” a full or partial withdrawal may be taken without surrender charge or market value adjustment. After the initial guarantee period,  At the end of the 30 day penalty free window another  3, 4, 5, or 6 year period (depending on initial period)  will automatically renew at the then current guaranteed rate, subject to surrender charges and MVA.
  • 3 year can be renewed 2 times
  • 4 year can be renewed 2 times (once in FL)
  • 5 year can be renewed 1 time
  • 6 year can be renewed 1 time (cannot be renewed in FL)
  • 7 year renewals are for 1 year period only after initial 7 years
  • At the end of the two 3 or 4 year renewal periods and one 5 or 6 year renewal period then renewals are on an annual basis at the then current guaranteed interest rate and withdrawals may be taken at any time without surrender charges or MVA. (Same as 7 year at end of one term).
In no event will the renewal interest rate be less than the contract’s minimum guaranteed rate at the time of the purchase which currently is 1.25%.

Penalty-Free Withdrawal
Beginning in the second contract year you may withdraw an amount equal to 10% of the last contract anniversary accumulation value without a surrender charge or market value adjustment (MVA). There is a minimum withdrawal requirement of $500.

Market Value Adjustment (MVA)
An MVA will apply to any full surrender or partial withdrawal that exceeds the maximum penalty free withdrawal during the guarantee period. Depending on the direction interest rates move, the MVA may increase or decrease benefits available under the contract. The market value adjustment does not apply to the death benefit or the guaranteed surrender value.

Death Benefit
In the event of death, your beneficiary(ies) will be paid a death benefit equal to the accumulation account value of your annuity without surrender charges or market value adjustment. A beneficiary may choose to receive the death benefit in either a lump sum or any of the available annuitization options.  

MYGA Interest Rates

Annual percentage yield (APY)
earned over the investment term
3 years 4.05%
4 years 4.3%
5 years 4.55%
6 years 4.7%
7 years 5.2%

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