Sagicor Milestone Max MYGA 6 (w/ liquidity)
Product Overview
Insurer: Sagicor Life Insurance Company
Brochure: View
$75,000+: 5.25%
$25,000 - $74,999: 5.05%
-20bps Effective: 1/14/2025
Basic Features
| Feature | Details |
|---|---|
| Product Name | Sagicor Milestone Max MYGA 6 (w/ liquidity) |
| Insurer | Sagicor Life Insurance Company |
| Ratings |
|
| Agent/Broker | PlanEasy Inc. |
| Annuity Type | Multi-Year Guaranteed Annuity (MYGA) |
| Term | 6 Years |
| Current Rate for $75,000+ | 5.25% |
| Current Rate for $25,000 - $74,999 | 5.05% |
| Last Rate Change | 1/14/2025, -20bps |
| Interest Type | Compound Interest |
| State Availability | AL, AR, AZ, CO, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, MS, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WI, WV, WY |
| Free Withdrawals |
|
| Free RMDs | Yes |
| 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%, 4.0% |
| Funding Sources | Personal Investment, Cash, Traditional IRA, Roth IRA, SEP IRA |
| Terms Available | 3, 4, 5, 6, 7 Years |
| Age Restrictions | 0 to 90 Years Old |
Quick Summary
The Sagicor Milestone Max MYGA 6 (w/ liquidity) is a 6-year Multi-Year Guaranteed Annuity (MYGA) issued by Sagicor Life Insurance Company and sold through PlanEasy Inc., a national online annuity agency.Earn a guaranteed compound interest rate on this fixed annuity:
- 5.25% for $75,000+
- 5.05% for $25,000 - $74,999
Key Details
- Ratings: Sagicor Life Insurance Company is rated A- by A.M. Best.
- Guaranteed Rates: 5.25% for premiums of $75,000+. 5.05% for premiums of $25,000 - $74,999. This fixed guaranteed rate ensures predictable tax-deferred growth, making it an excellent alternative to bank CDs.
- Term: The interest rate is guaranteed for 6 years with a surrender charge schedule of the same duration.
- Free Withdrawals: Yes, there is liquidity as the product allows for 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 90 years old.
- Minimum Premium: Investors can contribute a minimum of $25,000
- 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 6-Year Rates
| Premium Band | Effective Date | Guaranteed 6-Year Yield to Surrender |
|---|---|---|
| $75,000+ | 1/14/2025 | 5.25% |
| 12/5/2024 | 5.45% | |
| $25,000 - $74,999 | 1/14/2025 | 5.05% |
| 12/5/2024 | 5.25% |
Available Terms & Current Rates
| Premium Band | Term | Guaranteed Yield to Surrender |
|---|---|---|
| $75,000+ | 3 | 5.00% |
| 4 | ||
| 5 | 5.30% | |
| 6 | 5.25% | |
| 7 | ||
| $25,000 - $74,999 | 3 | 4.75% |
| 4 | ||
| 5 | 5.05% | |
| 6 | ||
| 7 | 5.10% |