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

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About Product

Premium Type

Single Premium

Fee withdrawal:

Interest only

Market Value Adjustment

Return Of Premium

Minimum Contribution

$10,000

Maximum Contribution

$1,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, Inherited IRA, NQ Stretch, and TSP

Launch Date

01/01/2015

MYGA Interest Rates

Term	Rate Annual percentage yield (APY) earned over the investment term
3 years	4.2%

The Discovery annuity is a single premium deferred, multi-year guarantee annuity. You have a choice of guarantee periods ranging from 3 to 7 years. Western United Life Assurance Company (WULA), as a legal reserve life insurance company, is legally required to maintain reserves equal to the surrender value of your Discovery annuity at all times. Insurance laws require levels of capital and surplus that provide an even greater margin of safety. Both premium and interest are 100% guaranteed by Western United Life Assurance Company.

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

Tax Qualifier

Non-qualified, or
Qualified, including Traditional IRA, Roth IRA, SEP IRA and Simple IRA.

Note:

TSP accepted as a rollover to IRA
Inherited/Beneficiary IRA usually taken as a direct transfer

Issue Ages
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

Year by Year Account Balance

Understand how your money will increase when invested in Discovery 3.

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Investment Amount

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.

Company Founded: 1963

Good Rated Company

Western United Life Assurance Company

Company Ratings

4.3