- Looking for a guaranteed interest rate that often 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 multi-year guaranteed annuity is a good fit for people who are:
Simply put:
A MYGA is very similar to a bank CD that you’re familiar with, except that it may offer tax advantages that can help 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.
Safety
A MYGA is a guaranteed contract that isn’t affected by market risk or subject to investment loss.
Tax advantages
Your money grows “tax deferred” just like a 401(k) or IRA, which means more of your money can compound and grow before paying taxes.
Plan ahead
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.
Additional features
Lifetime income
Income solutions can make sure that your money lasts as long as you do.
Choose your timeframe
Multiple contract lengths to match your time horizon.
Free withdrawals
You can access some of your money every year.
Leave a legacy
A MYGA can be used in several ways to pass on a legacy to loved ones.
An AuguStar MYGA
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 AuguStar Life Insurance Company. Guarantees are based on the claims-paying ability of the issuer.
Early withdrawals may be subject to surrender charges. Withdrawals may be subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax 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 New York.