Nassau Nassau MYAnnuity 7 (no liquidity)
Product Overview
Basic Features
| Feature | Details |
|---|---|
| Product Name | Nassau Nassau MYAnnuity 7 (no liquidity) |
| Insurer | Nassau Life and Annuity Company |
| Ratings |
|
| Agent/Broker | PlanEasy Inc. |
| Annuity Type | Multi-Year Guaranteed Annuity (MYGA) |
| Term | 7 Years |
| Current Rate for $0+ | 5.55% |
| Last Rate Change | 01/13/2025, +10bps |
| Interest Type | Compound Interest |
| State Availability | AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY |
| Free Withdrawals | No. If you request a withdrawal or surrender your contract before the end of your current guarantee period, you would be subject to a withdrawal charge and market value adjustment on any amount you withdraw. |
| Free RMDs | Yes |
| Death Benefit | No |
| MVA | Yes |
| Nursing Home Waiver | Yes |
| Terminal Illness Waiver | Yes |
| Surrender Charge by Year | 9.0%, 8.0%, 7.0%, 6.0%, 5.0%, 4.0%, 3.0% |
| Funding Sources | Personal Investment, Cash, Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, Pension |
| Terms Available | 5, 7 Years |
| Age Restrictions | 0 to 85 Years Old |
Quick Summary
The Nassau Nassau MYAnnuity 7 (no liquidity) is a 7-year Multi-Year Guaranteed Annuity (MYGA) issued by Nassau Life and Annuity Company and sold through PlanEasy Inc., a national online annuity agency.
Earn a guaranteed compound interest rate on this fixed annuity:
Your compound rate is locked in for 7 years, ensuring predictable, tax-deferred growth.
This fixed annuity is a strong alternative to bank CDs, offering stable returns with tax-deferred benefits.
The product has no free withdrawals in year 1 and no free withdrawals in year 2+.
Withdrawals for RMDs are free.
This product does not a have a traditional death benefit, so your beneficiaries will receive your annuity’s value reduced by surrender charge and MVA.
Earn a guaranteed compound interest rate on this fixed annuity:
- 5.55% for $0+
Your compound rate is locked in for 7 years, ensuring predictable, tax-deferred growth.
This fixed annuity is a strong alternative to bank CDs, offering stable returns with tax-deferred benefits.
The product has no free withdrawals in year 1 and no free withdrawals in year 2+.
Withdrawals for RMDs are free.
This product does not a have a traditional death benefit, so your beneficiaries will receive your annuity’s value reduced by surrender charge and MVA.
Key Details
- Ratings: Nassau Life and Annuity Company is rated B++ by A.M. Best.
- Guaranteed Rates: 5.55% for premiums of $0+. This fixed guaranteed rate ensures predictable tax-deferred growth, making it an excellent alternative to bank CDs.
- Term: The interest rate is guaranteed for 7 years with a surrender charge schedule of the same duration.
- Free Withdrawals: No, there are no free withdrawals on this product.
- RMDs: Yes, RMDs can be taken out without penalty.
- Age Eligibility: Available for owners between 0 to 85 years old.
- Minimum Premium: Investors can contribute a minimum of $0
- Death Benefit: No. A death benefit is not part of this product.
- 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 7-Year Rates
| Premium Band | Effective Date | Guaranteed 7-Year Yield to Surrender |
|---|---|---|
| $0+ | 01/13/2025 | 5.55% |
| 12/01/2024 | 5.45% | |
| 11/11/2024 | 5.30% | |
| 10/01/2024 | 5.05% |
Available Terms & Current Rates
| Premium Band | Term | Guaranteed Yield to Surrender |
|---|---|---|
| $0+ | 5 | 5.50% |
| 7 | 5.55% |