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
Two Year MYGA – 2.20% APY
Four Year MYGA – 2.65% APY
Five Year MYGA – 2.75% APY
Ten Year MYGA – 3.00% APY
Rates effective 10/14/2019 — 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.