Short
Is a MYGA the Same as a Fixed Annuity?SummaryIn this 0:25 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “Is a MYGA the Same as a Fixed Annuity?.” Multi-year guarantee rate annuity versus a fixed annuity. The multi-year guaranteed rate annuity is for shorter terms like two, three, five years and a guaranteed rate for that period of time. A fixed annuity declares the rate annually by the insurance company and usually goes for seven, five, seven and Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideFixed annuities guarantee at least a minimum interest rate set by the insurer. Deferred annuities also differ by premium pattern and by fees and charges. The 2022 NAIC Buyer’s Guide for Deferred Annuities explains that an annuity is a contract with an insurance company. With an annuity, the insurer promises to pay income on a regular basis for a period you choose—including the rest of your life. Immediate annuities begin payments soon after purchase; deferred annuities begin at a later date you choose. Most deferred annuities have an accumulation period and a payout period. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
|