Axonic / AmFirst Axonic Waypoint MYGA 5 (w/ liquidity)

Quick Summary

Key Details

• Ratings: Axonic / AmFirst Insurance Company is rated A- by A.M. Best.
• Guaranteed Rates: 5.65% for premiums of $100,000+. 5.25% for premiums of $20,000 - $99,999. This fixed guaranteed rate ensures predictable tax-deferred growth, making it an excellent alternative to bank CDs.
• Term: The interest rate is guaranteed for 5 years with a surrender charge schedule of the same duration.
• Free Withdrawals: Yes, there is liquidity as the product allows for 10% in year 1 and 10% in year 2+ that do not incur any surrender charges.
• RMDs: Yes, RMDs can be taken out without penalty.
• Age Eligibility: Available for owners between 0 to 89 years old.
• Minimum Premium: Investors can contribute a minimum of $20,000
• Death Benefit: Yes, the product has a traditional death benefit of the annuity's accumulation value, available to the beneficiary with no surrender charges.
• Market Value Adjustment (MVA): Yes, the MVA is applicable to any withdrawals that also incur surrender charges.
• Nursing Home Waiver: Yes, if the owner is confined to a nursing home per the definition in the contract, surrender charges and MVAs are waived.
• Terminal Illness Waiver: Yes, if the owner is terminally ill as defined in the contract, surrender charges and MVAs are waived.