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- verified by Scott Brooks, MBA, CFP® Editor
Atlantic Coast Life
Fixed annuities are for conservative investors who want safety, security, and guarantees.
You will preserve your principal and earn a fixed rate of return.
You might hear fixed annuities also called CD-like annuities or multiple-year guarantee annuities (MYGA's).
If you are sensitive to loss and don't want to lose a penny, a fixed annuity might be a good fit for some of your savings.
Read our educational articles on fixed annuities to learn more.
Guaranteed Rate Lock Period:
The rate is locked for 45 days from the date of application. If the funds are received after that period the rate might be subject to change and will be the rate in effect at that time.
what we like
- No surprises because you know what you will earn
- Low agent commission
what we don’t like
- 10-year term which can be good or bad
- No withdrawal options
- Not RMD Friendly
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Surrender Charge Schedule
Surrender charges are a penalty charged to early withdrawals of annuity contract. They are a percentage of the withdrawal amount, decrease over time, and go to zero when the term ends.
percentage charged to withdrawal
market-value adjustment (MVA)
A market value adjustment is basically an additional charge or credit for taking money out early from an annuity.
They allow companies to pay a higher rate and make longer-term investments.
MVAs only affect you if you withdraw funds early. If you own the contract to maturity, they do not apply.
|phone number||(844) 442-3847|
|1.4-2.65%. We are paid from the insurance company general fund. It is not deducted from your account value. 100% of your money is working for you from day one. We could earn a higher commission based on sales volume and taking a more active role in the application process.|
|Rate Effective Date||June 1st 2023|
|premium Type||Single Premium Annuity|
|account Type||Personal, Traditional IRA, Roth IRA, SEP-IRA, SIMPLE-IRA, 403(b).|
|Not available in||This product is only available in the following state (FL)|
At the end of your contract term, you have 30 calendar days to choose from the following options.
1. Withdrawal any amount free of charges and fees.
|death benefit provision||If you pass away before the end of your annuity contract, your beneficiaries will receive the cash surrender value. The cash surrender value includes a possible surrender charge and market value adjustment. Another option for this product is for your beneficairies to receive the full account value in annual payments over a 5 year period. If you live in the state of Florida the death benefit rider will be automaticallyt included. This rider will allow the full account value to pass to the beneficaries at the time of death without charges and fees.|
|taxes||Annuities typically grow tax-deferred. If you withdrawal money that has never been taxed, withdrawals are 100% taxable. Non-qualified withdrawals have been taxed already, so only interest is taxed. This is called an exclusion ratio. Interest would be taxed, but the principal would not. Please work with a qualified specialist.|
9%, 8%, 7%, 6%, 5%, 5%, 5%, 5%, 5%, 5%
|free-look period||21 Days|
|market value adjustment||Yes|