CUSIP Number:
401100219
CUSIP Name:
MYGA Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
01 Oct 2020
Close Date:
CUSIP Note:
Scrap Book:
The Guaranty Rate Lock MYGA is a single premium deferred annuity with an optional market value adjustment. The initial minimum premium is $10,000 for qualified and non-qualified money. 5% of the prior anniversary accumulation value or RMD is available beginning in year two, Systematic withdrawals are an option. Surrender charges vary by rate term and are waived in the event of death, entrance into a nursing home, hospital, long term care facility or diagnosis of a terminal illness. There is a 30-day window following the end of any guarantee period in which there is the ability to choose a subsequent Guarantee Period of any duration available (at applicable rates at that time); apply the Accumulation Value to an Annuity Payout Option; surrender all or some of the Contract for the Accumulation Value, without Surrender Charges and/or MVA; take no action and the Contract will automatically renew for a subsequent Guarantee Period with the same duration as the preceding Guarantee Period for the interest rate in effect at that time. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
16 Dec 2025 12:23