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.
Multi-year interest rate guaranteed for the entire surrender charge period
Competitive multi-year interest rate with a guaranteed minimum of 1.5%
Allows withdrawal up to 10% of the account value per certificate year
Surrender charge of 6% in year one, decreasing by 1% each year until 0%
Minimum initial premium of $10,000
No minimum issue age; maximum issue age of 90
Retirement Options: Traditional IRA, Roth IRA, SEP IRA, TSA/403(b)
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%|
Interest rates as of May 4, 2020.
Form No. ICC18-MYGA6 with state-specific variations.