November is going to be a great month for Fixed Annuities.

The benchmark rates are WAY up. This has resulted in much higher fixed interest rates in the deferred annuity products.

Additionally, lifetime income rates have exploded and I will have an update on those rates later this week. In the meantime, take a look at this AMAZING walk-away MYGA available for your client in November 2023!

For example a 5 year fixed rate Multi-Year Guarantee Annuity (MYGA) just blew through the 6% mark and is offering a 6.15% rate for 5 or 7 years in most states!

A $100,000 premium left to accumulate at 6.15% will grow to:
$151,859 after 7 years (51.86% increase)
$134,772 after 5 years (34.77% increase)

Interest payments beginning immediately = $29,916 annualized interest.
Approximate income based on days deferral, $100,000 premium:
31 day month = $508.16
30 day month = $491.77
28 day month = $458.98

Includes:
Full Death Benefit
Free interest withdrawals
No repeating surrender
(A) rated insurance company

Not available in New York
Rate is 0.05% lower in AK, CA, CT, DE, HI, ID, MD, MN, MO, NJ, NV, OH, OK, OR, PA, SC, TX, UT, WA

This material is for informational or educational purposes & is not a recommendation to buy, sell, hold or rollover any asset. It does not take into account the specific financial situation, investment objectives, or need of an individual person. Withdrawals may be subject to ordinary income taxes and, if made prior to age 59½, may be subject to a 10% IRS penalty. Surrender charges may also apply. All guarantees are backed by the claims-paying ability of the issuer. Available in jurisdictions where approved.

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Fixed Annuity rates are AMAZING for November 2023- MYGA now up to 6.15% for 5 years! Much to discuss!

For those looking for a secure and guaranteed way to save for their retirement, fixed annuities are proving to be an excellent option in today’s market. The current Fixed Annuity rates are nothing short of amazing, with some Multi-Year Guaranteed Annuities (MYGAs) offering up to 6.15% for a 5-year period.

Annuities have been gaining popularity among investors, especially those nearing retirement age, due to their ability to provide a steady stream of income for a specified period or even for life. Fixed annuities, in particular, offer a guaranteed interest rate and a set schedule of payments, making them a reliable and low-risk investment choice.

The current Fixed Annuity rates for November 2023 are particularly attractive, with some providers offering MYGAs with rates as high as 6.15% for a 5-year period. This is significantly higher than the returns available on many other traditional savings and investment options, making fixed annuities an appealing choice for those looking to secure their financial future.

Furthermore, the guarantee of a fixed interest rate for the entire duration of the annuity provides peace of mind in an ever-changing market. This means that regardless of fluctuations in the economy or interest rates, investors can rest assured that their annuity will continue to earn the specified rate of return.

There are a few key factors to consider when evaluating fixed annuities, such as the length of the annuity term, surrender charges, and potential tax implications. Additionally, it’s important to shop around and compare rates from different providers to ensure that you are getting the best possible return on your investment.

It’s also worth noting that while fixed annuities offer a secure and predictable return, they may not offer the potential for higher returns that are available through riskier investment options such as stocks or mutual funds. As with any investment, it’s essential to carefully consider your financial goals and risk tolerance before making a decision.

In conclusion, the current Fixed Annuity rates for November 2023 are indeed amazing, with MYGAs now offering up to 6.15% for a 5-year period. With the guarantee of a fixed interest rate and a steady stream of income, fixed annuities are proving to be a compelling option for those looking to secure their financial future. However, it’s essential to conduct thorough research and seek advice from a financial professional to ensure that a fixed annuity is the right choice for your individual financial situation.