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What is a Fixed Annuity?

Multi-Year Guarantee Annuity is a term used to describe a fixed annuity that has an interest rate guarantee for the same period of time as its surrender period. For example, an annuity with a guaranteed interest rate of 5% per year for five years, where there are no surrender penalties after five years. Some offer a higher rate the first year, and a lower, but guaranteed rate, for all subsequent years of the surrender period – e.g. 8.5% first year, with a guaranteed renewal at 4% for years 2-5 for a blended average of 4.88% per year for five years. The key feature is that you know what interest rate you get for the entire surrender period, and for this reason we ONLY recommend Multi-Year Guarantee Annuities.

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TOP RATES as of 3/20/2017

3 Year MYGA 2.10%
5 Year MYGA 3.20%
7 Year MYGA 3.39%
10 Year MYGA 3.50%
15 Year MYGA 2.95%
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ADVISOR INSIGHT

“Fixed annuities are often overlooked due to bells and whistles associated with indexed annuities. A Multi Year Guaranteed Annuity (MYGAs) pays a constant and guaranteed rate of interest each year during the selected period. The investor can spend the interest as income or allow it to compound inside the contract in a tax deferred basis. The simplicity and predictable outcome allows for many different uses including RMD distributions, wealth transfer and accumulation. As with any annuity contract it is important to understand the differences between the products. The most common mistake is taking the highest interest rate without factoring the liquidity provisions and duration of commitment.”

David Smith, Financial Advisor Annuity FYI Expert

ARTICLES & GUIDES

Annuity Warning #4: Fixed Annuity Rates

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Typically, an annuity company will give you a particular rate up front on a fixed annuity, and then decrease…
Fixed Tax Deferred Annuities

Fixed Tax Deferred Annuities

Fixed tax deferred annuities are invested primarily in government securities and high-grade corporate bonds…
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TESTIMONIAL
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Dear Sirs,

This brief note is intended to express my sincere appreciation for the time and effort your Mr. Dave Smith extended me this afternoon when I called to inquire about an annuity product offering.

Too often I exit such conversations quite unimpressed, questioning myself as to whether the representative was more interested in pushing the product offering with the highest commissions and fees rather than the product that is the best fit for me. And too often the sales approach is ‘Ready, Fire’, with the ‘Aim’ element of the ‘Ready, Aim, Fire’ protocol being ignored.

I’ve finished many similar conversations wondering (i) if I didn’t already know about as much as the sales rep, or (ii) perhaps the sales rep chose to be intentionally vague in order that I might not learn anything additional regarding the annuity product(s). Dave was just ever so helpful and knowledgeable, and most important to me – forthright. Perhaps for the first time, I’ve exited an ‘annuity’ conversation with the name and face of an individual who I believe will do his very best to guide me in developing an annuity strategy that is the optimum for my personal situation.

My very highest complements indeed.

– Joe
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TESTIMONIAL
4/5 Stars

David Smith was very helpful offering different ideas for retirement income. I am pleased about his knowledge and the way he was looking for the best deal for us.

I plan on working with him.

– Richard B.
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