Mountain Life Secure Summit 5 (w/ liquidity)
Product Overview
Insurer: Mountain Life Insurance Company
Brochure: View
$5,000 - $1,000,000: 5.80%
25bps Effective: 3/20/2025
Basic Features
| Feature | Details |
|---|---|
| Product Name | Mountain Life Secure Summit 5 (w/ liquidity) |
| Insurer | Mountain Life Insurance Company |
| Ratings |
|
| Agent/Broker | PlanEasy Inc. |
| Annuity Type | Multi-Year Guaranteed Annuity (MYGA) |
| Term | 5 Years |
| Current Rate for $5,000 - $1,000,000 | 5.80% |
| Last Rate Change | 3/20/2025, +25bps |
| Interest Type | Compound Interest |
| State Availability | AL, AR, AZ, GA, IN, KY, LA, MO, MS, NE, TN, TX |
| Free Withdrawals |
|
| Free RMDs | No |
| Death Benefit | Yes |
| MVA | Yes |
| Nursing Home Waiver | Yes |
| Terminal Illness Waiver | Yes |
| Surrender Charge by Year | 9.0%, 8.0%, 7.0%, 6.0%, 5.0% |
| Funding Sources | Personal Investment, Cash, Traditional IRA, Roth IRA |
| Terms Available | 2, 3, 5, 7, 10 Years |
| Age Restrictions | 0 to 90 Years Old |
Quick Summary
The Mountain Life Secure Summit 5 (w/ liquidity) is a 5-year Multi-Year Guaranteed Annuity (MYGA) issued by Mountain Life Insurance Company and sold through PlanEasy Inc., a national online annuity agency.Earn a guaranteed compound interest rate on this fixed annuity:
- 5.80% for $5,000 - $1,000,000
Key Details
- Ratings: Mountain Life Insurance Company is rated B+ by A.M. Best.
- Guaranteed Rates: 5.80% for premiums of $5,000 - $1,000,000. 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 5% in year 2+ that do not incur any surrender charges.
- RMDs: No, RMDs are not free, unless part of any available free withdrawals.
- Age Eligibility: Available for owners between 0 to 90 years old.
- Minimum Premium: Investors can contribute a minimum of $5,000
- 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.
Current & Historical 5-Year Rates
| Premium Band | Effective Date | Guaranteed 5-Year Yield to Surrender |
|---|---|---|
| $5,000 - $1,000,000 | 3/20/2025 | 5.80% |
| 2/17/2025 | 5.55% | |
| 1/27/2025 |
Available Terms & Current Rates
| Premium Band | Term | Guaranteed Yield to Surrender |
|---|---|---|
| $5,000 - $1,000,000 | 2 | 5.25% |
| 3 | 6.00% | |
| 5 | 5.80% | |
| 7 | ||
| 10 |