Multi-Year Guaranteed Annuity (MYGA) Rates
Nassau MYAnnuity 5X/7X
Rates for new contracts effective: May 1, 2024
Clients have a choice of a 10% Free Withdrawal Amount or No Free Withdrawal Amount.
Election must be made at issue. Rates are based on elections made as referenced in the table below.
Most States
| Free Withdrawal Amount | 5-Year | 7-Year |
|---|---|---|
| 0% | 5.60% | 5.65% |
| 10% | 5.40% | 5.45% |
Product and Rates in New York only
| Free Withdrawal Amount | 5-Year | 7-Year |
|---|---|---|
| 0% | 5.10% | N/A |
| 10% | 4.90% | N/A |
| Free Withdrawal Amount | 4-Year | 6-Year |
|---|---|---|
| 5% | 5.35% | 5.60% |
Interest Rate Guarantee Terms
Interest rate for each guarantee period is set at issue and guaranteed for the duration selected.
Premium must be held for the full interest rate guarantee period in order to receive the full amount of interest.
At the end of the guarantee period, clients have a 30-day window within which to select one of three options:
- Surrender any amount of the contract free of charge
- Renew the contract for another guarantee period of the same duration, if available
- Renew the contract for a different interest rate guarantee period available at that time
If client does not choose one of these options, the contract will renew automatically for the same guarantee period, or the nearest available term. (A reminder will be mailed.)
Interest rate credited for the new guarantee period will be based on the rates in place at that time and declared in advance.
Rate lock provides for the betterment of rates during the rate lock period as described herein:
Current credited interest rate and indexed account rates as of the application signature date or as of the contract issue date, whichever is better, will be locked in as long as funds are received within 60 calendar days from the application signature date.
If funds are not received within 60 days, the current credited interest rate and indexed account rates effective on the contract issue date will apply.
For New York, the rate lock period is 90 calendar days from the signature date of the Regulation 60 paperwork.
Important Disclosures
Nassau reserves the right to revise declared rates at any time.
An investment in the contract is subject to possible loss of principal and earnings, since a surrender charge and market value adjustment may apply to withdrawals or upon surrender of the contract.
Nassau MYAnnuity 5X/7X (ICC18IFDAP, ICC18IFDANP) is issued by Nassau Life and Annuity Company (Hartford, CT). Nassau Life and Annuity Company is not authorized to do business in ME and NY, and that is subject to change. In New York, Nassau MYAnnuity is issued by Nassau Life Insurance Company (East Greenbush, NY).Guarantees are based on the claims paying ability of the issuing company.
Nassau Life Insurance Company and Nassau Life and Annuity Company are subsidiaries of Nassau Financial Group.
Annuities are long-term investment vehicles. Annuities held within qualified plans do not provide any additional tax benefit. With certain exceptions, surrender charges apply to withdrawals taken during the initial Guarantee Period and a market value adjustment, which may increase or decrease the amount received upon withdrawal, may also apply at any time.
All or a portion of amounts withdrawn are subject to ordinary income tax, and if taken prior to age 59 1⁄2, a 10% IRS penalty may also apply. We do not provide tax, financial or investment advice, or act as a fiduciary in the sale or service of the product. Consult a tax advisor or financial representative about your specific circumstances.
Nassau MYAnnuity is an insurance contract, not an investment; it doesn’t provide ownership of any stocks, bonds, index funds, or any other securities.
Annuities are long-term investment vehicles. Annuities held within qualified plans do not provide any additional tax benefit.
With certain exceptions, surrender charges apply to withdrawals taken during the initial Guarantee Period and a market value adjustment, which may increase or decrease the amount received upon withdrawal, may also apply at any time.
Product features, options and availability may vary by state.
BPD3959002-23For producer use only. Not for distribution to the public. Products are subject to state approval.