GUGGENHEIM Preserve is a single-premium deferred MYGA (Multi Year Guarantee Annuity. There are multiple interest-guaranteed periods to choose from (from 3 years to 10 years) that you can choose from based on your precise needs. Since this is a fixed annuity, it provides simplicity for investors who are need to earn guaranteed interest over a period of time, usually as part of their retirement income planning.
Preserve MYGA Annuity Facts
Issue age
0-90 years
Premiums
For qualified payments:
Min – $5,000
Max – $1,000,000
For non-qualified payments:
Min – $10,000
Max – $1,000,000
Choose Annuity Period
Investors can choose a 3-year, 4-year, 5-year, 6-year, 7-year, 8-year, 9-year, or 10-year guarantee period. The longer the annuity period, the higher the guaranteed annual interest earned. For instance, with the 10-year preserve MYGA, you earn an annual interest of over 3%, whereas the guaranteed annual interest rate is just 2% for the 3-year preserve fixed annuity.
Penalty-Free Withdrawals
Starting contract year 2, you can access up to 10% of your contract value without any withdrawal charges.
Lifetime Income
A key feature of this annuity product is the provision to have income payouts that you cannot outlive. You can choose from a predetermined-period income payout option, or payouts that last your entire lifetime. This makes this fixed annuity a reasonable choice for investors who need to add an annuity to their retirement planning mix without risking their premiums.
Renewal Feature
At the end of your annuity’s guarantee period, you may renew your annuity for yet another period of guaranteed interest. Depending on your financial goals at the time, this feature might or might not be useful.
Waivers
Both terminal illness and nursing home waivers are available for investors who qualify. The nursing home care rider is only available to annuity owners over the age of 76 who are confined to a nursing home for a duration of time not less than 90 consecutive days. The terminal illness rider on the other hand is available for annuity owners over the age of 70 who are diagnosed with a terminal illness such as a heart-attack, life-threatening cancer, or a stroke.
Death Benefit
Appointed beneficiaries are paid a death benefit that’s equal to the entire contract value upon the contract owners death.
