5 Year MYGA - Guaranteeing 4.02% Annually

[TheAnnuityExpert]

Hey All,

American Classic Life and Security (Rated B++) has a new 5 year MYGA guaranteeing 4.02%. Limited distribution.

Comp is 2.50% up to age 80. 1.50% ages 81 - 90.

Message me if you'd like marketing materials.

Shawn

 

[Allen Trent]

So, are they just that much better than every other established Annuity MYGA provider that they can invest so well to pay this kind of a rate to customers. or, are they just offering something that might not be sustainable to lure producers to help launch this product & re-launch this company after needing capital infusions from investors?

Colorado Bankers had some similar high rates & capital infusions & are now currently in rehabilitation.

sounds too good to be true

 

[TheAnnuityExpert]

I will definitely say they are trying to launch this new MYGA.

This is their only annuity.

As far as their long term outlook, hard to say at this point.

Everything you need to know about there is here.

 

[Allen Trent]

I will definitely say they are trying to launch this new MYGA.

This is their only annuity.

As far as their long term outlook, hard to say at this point.

Everything you need to know about there is here.

thank you. for their sake I hope it goes great as we could use more carriers improving themselves instead of having fewer carriers or consolidation.

I am not sure they should state they are "highly rated" at a B++, but maybe that is allowed. I would consider that an Average rating at best considering it is like the 5th or 6th best rating classification.

4.02% sounds great right now, so I am sure it will start selling well. not sure where they will be able to invest to guarantee that kind of current rate, cover commissions, GA/IMO overrides & expenses to issue the polices & invest the money.

 

[pfg1]

4.02% is great, B++... not so much. I hope they tell their reps to check their E&O (doubtful), many won't cover B rated carriers. Plus its their only annuity, sorry... not for my clients.

I'd like to see carriers up their MYGA rates. Some CD's are rivaling them now.

 

[Kim Begin]

Hi how can I apply to open MYGA act. at this rate of 4.02%







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