I have a client that wants a fixed annuity. Not an Indexed annuity. It's only about 60k and she is not interested in any income benefits or any other riders. She just wants principle protection and tax deferral and wants to know what interest she will earn. Does anyone know which companies have good fixed annuity rates and have a good rating? Thanks!
Client Wants a Traditional Fixed Annuity
- Thread starter rikwells
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What state and how long is she comfortable locking up the money?
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Virginia. Surrender period for no longer than 7 years. Thanks!
rikwells said:
Guggenheim is B++ and its MYGA is at 3.2% for 7 years.
American Equity is A- and at 2.7%.
The Standard is A and at 2.15%
NA/Midland is A+ and at 2.05%
For 6 yr surrenders:
Equitrust (B++) is at 3%
Royal neighbors (A-) is 1.65%
The standard is 2.15%
Principal (A+) is 1.43%
For 5 yr surrenders:
Guggenheim is 2.8%
AE is 2.3%
Standard is 1.6%
And Minnesotta life (top A+ carrier), is 1.5%
I just give you the top MYGA (from my system) for each credit rating in 5,6 and 7.
I hope this helps.
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She wants tax deferral. You mean the 1% she gets in the bank isn't low enough to avoid taxes?
Rick
Rick
GreenSky said:
You're getting 1% at your bank? Who are you using? I may have to make a transfer....
- 11,995
Based on that I'd peak at what Presidential has to offer. A very stable company with no debt. I'm not sure when the "merger" will be complete or what impacts it will have, but they're a solid company.
Presidential's MYGA rates are pretty poor.
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I'm assuming it is NQ considering she was looking at the annuity due to its tax deferral.
I only looked at MYGA. I haven't seen many 5-7yr fixed that offer much by way of guaranteed yield to surrender. With the rate environment today, which carriers have a decent minimum?
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