Single-premium annuities turn a one-time, lump sum premium payment into guaranteed income for life. A solid foundation requires the right building blocks for the right job. Gleaner's Foundation MYGA6 can be a great financial solution for lump sums like inheritances and 401(k) rollovers. By depositing a one-time initial premium, you can watch your money grow tax-deferred with the power of compounding interest.
Product Features:
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Multi-year interest rate guaranteed for the entire surrender charge period
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Competitive multi-year interest rate with a guaranteed minimum of 1.5%
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Allows withdrawal up to 10% of the account value per certificate year
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Surrender charge of 6% in year one, decreasing by 1% each year until 0%
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Minimum initial premium of $10,000
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No minimum issue age; maximum issue age of 90
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Retirement Options: Traditional IRA, Roth IRA, SEP IRA, TSA/403(b)
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Maximum Issue Age: 90; 72 for Beneficiary IRA (applies to both owner and annuitant)
| Rate Band | Interest Rate | |
| $10,000 - $49,999 | 1.50% | |
| $50,000 - $99,999 | 1.85% | |
| $100,000 - $249,999 | 1.95% | |
| $250,000 + | 2.10% | |
Interest rates as of May 4, 2020.
Form No. ICC18-MYGA6 with state-specific variations.
