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MYGA 3
MYGA 3
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.3% |
Minimum Deposit
$5,000 – Maximum $300,000 (Q/NQ)
Single premium.
Home office approval is required for amounts over the maximum deposit shown.
Issue Age
18 to 96.
Access to Funds
A 10% penalty-free withdrawal is available each contract year. Distributions above the penalty-free amount during the surrender period are subject to a surrender charge. There are no surrender penalties after the initial term.
Death Benefit
The death benefit is the full account value.
- Interest Withdrawal available after only 30 days, Penalty-Free
- 10% Annual Withdrawal – up to 10% of the cash value each year (contractual)
- RMD – Required Minimum Distributions for qualified plans are always Penalty-Free
- Death Benefit – if the annuitant passes away, Penalty-Free
- Annuitization – if converted to an income stream equal to the original issued annuity term, Penalty-Free
- Western Catholic Union is a fraternal benefit society.
- WCU honors a 45-day rate lock - must receive funds from transferring company within 45 days of receipt of app.
- All plans include a Living Benefit Rider
Riders
No Riders for MYGA 3 annuity.
Waivers
Death
Contact us to get more information about this waiver.
Nursing Home
Nursing Home: Up to 50% coverage, Penalty-Free. This benefit applies only in the second year of the certificate and beyond, with each eligible event limited to one occurrence. Available only for issue ages 80 and under.
Terminal Illness
Heart Attack: Up to 25% coverage, Penalty-Free. Cancer Diagnosis: Up to 25% coverage, Penalty-Free. These benefits apply only in the second year of the certificate and beyond, with each eligible event limited to one occurrence.
Unemployment
Unemployment: Up to 50% coverage, Penalty-Free. This benefit applies only in the second year of the certificate and beyond, with each eligible event limited to one occurrence. Available for those aged 64 and younger.
Annuitization
Contact us to get more information about this waiver.
RMD
The Required Minimum Distributions for qualified plans are always Penalty-Free.
- A.M. Best -
