A Single Premium Deferred Annuity is a tax-deferred annuity designed for healthy clients planning for retirement. It serves as a valuable pre-planning tool wherein the owner receives a competitive rate of return. Taxes are not due on any interest earned until the owner makes withdrawals or annuitization begins.
Rate of Return
2-Year MYGA – 1.75% APY
4-Year MYGA – 2.00% APY
5-Year MYGA – 2.25% APY
10-Year MYGA – 2.50% APY
Rates effective 4/1/2020. Subject to change. Underwritten by ELCO Mutual.
A SINGLE PREMIUM DEFERRED ANNUITY MAY BE RIGHT FOR YOUR CLIENT IF THEY:
Desire a conservative investment vehicle
Want to receive a competitive rate of return
Prefer some liquidity in accessing funds
Desire an alternative to a CD
ADDITIONAL PRODUCT INFORMATION
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