Discovery 3
Discovery 3 by Western United Life offers a reassuring solution for secure retirement savings. Tax-deferred with a 3-year guarantee period, it provides you with the growth and liquidity you need on your journey to retirement. The flexibility of this annuity is impressive, catering to those between the ages 0-99 and allowing a premium range between $10,000 and $1,000,000.
One of the great benefits of this product is the guaranteed minimum interest rate, ranging from 1-3% from contract years 4 and onwards. Plus, it's accessible across California! Worried about surrender charges? With Discovery 3, these are waived upon the death of the annuitant. To top it off, any withdrawals before age 59.5 are subject to ordinary income tax, not penalties. So, you can have peace of mind about your golden years with Discovery 3.
Discovery 3
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 4.2% |
Penalty-Free Withdrawals
Beginning in the first year of your Discovery annuity, you may withdraw (Partial Surrender) the accumulated interest or RMD on the 3 year plan, or up to 15% of the Annuity Value per calendar year on the 5, 6, or 7 year plans without fees or charges.
Distribution Options
Your Discovery annuities can be set up to make regular periodic distributions, such as monthly interest. Partial Surrenders may be made on a monthly, quarterly, semiannual or annual basis and need to be set up as Electronic Fund Transfer (EFT).
Minimum Single Premium
- $10,000 for 3, 5, and 7 year plans
- $25,000 for 6 year plan
- Over $1,000,000 requires approval from the Home Office before submitting an application
- Non-qualified, or
- Qualified, including Traditional IRA, Roth IRA, SEP IRA and Simple IRA.
- TSP accepted as a rollover to IRA
- Inherited/Beneficiary IRA usually taken as a direct transfer
Annuitant’s actual age on the contract date, which is the date of issue, must be:
- 0-99 for 3 year plan
- 0-84 for 5, 6 and 7 year plans
Riders
No Riders for Discovery 3 annuity.
Waivers
Death
If the Annuitant dies before payments have begun under a Settlement Option, surrender charges are waived. If the Annuitant and Owner are not the same person, and the Owner dies while the Annuitant is still alive, surrender charges are not waived.
- A.M. Best B++
