A Single Premium Deferred Annuity is a tax-deferred annuity is designed for clients looking toward retirement who are not in need of long-term care. The product receives a competitive rate of return and taxes are not due on any interest earned until withdrawals are made 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.