Guaranteed Interest Rates + Tax Advantages
Multi-year guaranteed annuity (MYGA)
Do they have seatbelts on the space shuttle? You bet they do! A seatbelt is one of the most common safety features whether you’re flying to the moon, or driving down the street. And a MYGA is one of the most common annuities for those seeking safety in their retirement plan.
A multi-year guaranteed annuity is a good fit for people who are:
- Looking for a guaranteed interest rate that pays more than a bank CD
- Worried about market volatility or losing their money
- Interested in having access to a part of their money for income
A MYGA is very similar to a bank CD that you’re familiar with, except that it has additional tax advantages that helps your money grow faster.
There are several flexible features of a MYGA, like how long you want your money to grow and the rate at which it will do so.
Key benefits of a MYGA
Guaranteed interest rate
You’ll know the rate that your money will grow for the entire length of the contract term you choose.
A MYGA is a guaranteed contract that isn’t affected by market risk.
Your money grows “tax deferred” just like a 401(k) or IRA, which means more of your money can grow before paying taxes.
Know when you need access to money
A MYGA pays you a guaranteed rate for a specified period of time, but during that time you also have limitations on how much of your money you can pull out.
So if you need to have access to 100% of your money sooner, this longer term investment might not be right for you.
Income solutions can make sure that your money lasts as long as you do.
You can access some of your money every year.
Choose your timeframe
Multiple contract lengths to match your time horizon.
Leave a legacy
A MYGA can be used in several ways to pass on a legacy to loved ones.
Now that you understand why a multi-year guaranteed annuity may be right for you, consider why AuguStar Retirement has some of the best options available for you to choose from. Your financial professional can show you a custom illustration that shows how your income could be paid to you with an AuguStar MYGA.
Annuities are issued by AuguStarSM Life Insurance Company. Guarantees are based on the claims-paying ability of the issuer. Maximum issue age is 90.
Early withdrawals may be subject to surrender charges. Withdrawals may be subject to ordinary income tax and, if taken prior to age 59½, a 10% federal tax penalty may apply. Fixed annuities are not insured or guaranteed by the FDIC or any other government agency.
Products, product features, and rider availability vary by state. Issuer not licensed to conduct business in NY.