Annuity For Church

[Allen Trent]

Atlantic Coast Life usually pays a pretty good % for MYGAs.

Here are their rates starting 3/11/20 ...

buy it & lock it in. I wouldn't be surprised if those rates don't change without notice with a 10 year treasury going below .4% today.

The trustee of this fund might require a better rated company. While I think B++ is good, many think a carrier needs to be A rated

 

[Tahoe Ray]

buy it & lock it in. I wouldn't be surprised if those rates don't change without notice with a 10 year treasury going below .4% today.

The trustee of this fund might require a better rated company. While I think B++ is good, many think a carrier needs to be A rated

We closed WAAAY, up Allen. 58bps.

I agree on the rating issue but wouldn't be "marrying" (buying long rates) any annuity product in this environment.

They are going to come on enormous pressure as these rates continue down. I like companies that do more than just annuities...

Sagicor is 3% on their 5 year still (for now) if you wanted to move up in rating but ACL (as Todd recommended) at 3.25% is not bad either.

 

[NSRH]

Todd, do you have a comp grid on that suite of products?

 

[Todd King]

Todd, do you have a comp grid on that suite of products?

Just emailed one to you.

 

[Mike Siegal]

It’s an endowment fund, left behind by a member who has since passed. Lawyers wrote up a document and financials are sent to the courts yearly to prove compliance.

Must be placed in a guaranteed interest bearing account with FDIC or state reinsurance protection.

Is there anyone paying 3.5%+ guaranteed?

what is 'STATE REINSURANCE protection?'

 

[Allen Trent]

what is 'STATE REINSURANCE protection?'

Something that doesn't exist

 

[Tahoe Ray]

what is 'STATE REINSURANCE protection?'

He's talking about the state guarantee associations.

Must be placed in a guaranteed interest bearing account with FDIC or state reinsurance protection.

And just fyi, when I said variable interest before, I didn't mean variable annuities, I meant indexed.

Those are covered the way you describe as well. It's just that you have to be comfortable with unpredictable rates (in exchange for the possibility of higher returns) which corps/charities etc sometimes are and sometimes aren't.