New Variable Annuities from Charles Schwab
Charles Schwab recently teamed up with Protective Life Insurance Company to launch two new variable annuity products. The Schwab Genesis … Continued
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.
3 Year MYGA | 2.45% |
5 Year MYGA | 3.10% |
7 Year MYGA | 3.20% |
10 Year MYGA | 3.20% |
15 Year MYGA | 3.00% |
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Charles Schwab recently teamed up with Protective Life Insurance Company to launch two new variable annuity products. The Schwab Genesis … Continued
The end of the calendar year is a time when many of us choose to assess the state of our … Continued
Most of the time, folks weighing the purchase of an annuity ask all kinds of questions. Which type of annuity … Continued
"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."
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