|All About Annuities|
|Rates and Returns|
Multi Year Guarantee Annuities (MYGA)
A MYGA is an annuity issued with a guaranteed interest rate period which is equal to the length of time that surrender charges last.
|5 Year MYGA|
A MYGA as show above has an Interest Rate Guarantee Period of 5 Years, the guaranteed interest rate for each year is 5.00%, and is guaranteed not to change for the length of the contract.
Withdrawal Provision is a feature of almost all MYGA's. This provision allows you to withdraw a percentage of your account value or your initial premium each policy year. For example if this MYGA had a 10% Free Withdrawal Provision at the end of each year you could withdraw up to 10% of your account value. For example: any money withdrawn in the third year over the 10% Free Withdrawal Provision would be subject to a 3.00% penalty.
Withdrawal of any funds prior to age of 59 1/2 are subject to an IRS Penalty of 10% of the funds withdrawn. This is in addition to any penalties incurred as part of the annuity contract.
List of MYGA Products that We Track
Don't see a product you'd like us to track? Let us know, we'll add it!