Forms/Files for mailing: Monthly Letter in Word Fillable Monthly Letter in PDF Top 10 Top 10 PDF | Easy to Understand
A Multi-Year Guarantee Annuity (MYGA) is something so easy to understand, kids in the 5th grade can understand how one works. Simply stated, all MYGA type annuities have one thing in common; the guaranteed interest rate period matches the length of the early surrender penalty period. You can pick the guaranteed rate period that best meets your wishes. Generally the periods range from 2 to 10 years.
Other key features of all annuities are; 1) amount of free annual withdrawals each year, if any, and 2) are early surrender penalties waived at death. Make certain those two key elements fit your needs.
Lots of annuities are advertised in TV & Radio ads that tout the possibility of high returns, but if you don’t fully understand all the details, don’t buy them! Remember, there is no such thing as a free lunch!
If you want an “Easy to Understand” place to park your money, which one these MYGA annuities do you think is right for you? You can always put money in both of them! | |