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 MYGA4 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 1.00%
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Allows withdrawal up to 15% of the account value per certificate year
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Four year surrender charge period: 6%, 5%, 4%, 3% and 0% in years five and after
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Minimum initial premium of $10,000
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No minimum issue age; maximum issue age of 95; 82 for Beneficiary NTQ annuities (applies to both owner and annuitant.
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Retirement Options: Traditional IRA, Roth IRA, SEP IRA, TSA/403(b)
Rate Band | Interest Rate | |
$10,000 - $49,999 | 4.05% | |
$50,000 - $99,999 | 4.05% | |
$100,000 - $249,999 | 4.30% | |
$250,000 + | 4.30% |
Interest rates as of May 1, 2023.
Form No. ICC22-SPDA with state-specific variations.