Discovery 7
The Discovery 7 Annuity by Western United Life Assurance offers a secure investment option for your retirement. With a choice of guarantee periods from 3 to 7 years, premium and interest that are 100% guaranteed, your future looks promising. Remember, no sales charges or fees subtract from your premiums – they are promptly channeled to work for you.
The convenience to set up regular periodic distributions and flexibility to choose between non-qualified or qualified premiums including Traditional IRA, Roth IRA, etc., speaks to the product's adaptability. Besides, with the minimum single premium as low as $10,000, Discovery 7 Annuity opens its doors to a broad spectrum of potential investors planning a secure future!
Discovery 7
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 7 years | 4.4% |
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 7 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++
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