- 687
A while back there was an annuity on the market that may have been a MYGA with 100% accessibility from first day. I believe it was Midland but they no longer offer it. Does anyone know of such a product that exists today?
MYGA with 100% Access
- Thread starter RonRoberts
- Start date
Define 100% accessibility. Are you talking ROP riders (giving up interest but walking with no surrender) or full liquidity (no surrenders, you can walk with interest).
- Thread starter
- #3
- 687
I am going to say full liquidity, because, Midland use to offer something like this.
Midland's Cash Management Annuity was a fixed deferred annuity that offered contract owners 100% liquidity from day one, with a one year guaranteed interest rate on the initial premium, with no surrender charges.
They no longer offer this product, nor do I know anything else about it. I am reading an old brochure on it so this is all I know but it seems as though they offered it up until a year or so ago.
- 8,707
A bunch of carriers offered that. I think that last to pull the plug was liberty but haven't seen them in a while.
I'm not aware of any carriers currently offering no surrender fixed annuities...sorry.
- 8,707
Hence the key words "Offered" as in past tense and "the last to pull the plug".
I meant to respond to the OP.
- Thread starter
- #8
- 687
Thank you for y'all looking in to it for me. I was hoping one still existed but obviously it wasn't a money maker for the company.
- 657
Check on Great American Safe Return fixed indexed annuity. Guaranteed premium return from day one, earnings subject to surrender charges. Not sure if it's still offered, but I bought one about 18 months ago.
There are at least a dozen of these products on the market. I think that they're a great option for clients who have liquidity concerns but they still don't function like the OP requested....it is still available though.
