Guggenheim Life

2.30%
5 Year Term
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company Information

Company Name

Guggenheim Life

product Name
Preserve 5
Description
Guggenheim Life is a subsidiary of Guggenheim Partners. They are licensed to do business in every state but New York. Their goal is to create opportunities to grow and maintain your wealth. They do this through innovative investment and insurance solutions. The Guggenheim name has been synonymous with a spirit of innovation and a track record of results. They feel Guggenheim Partners experience in asset management and insurance delivers value for their customers. Guggenheim Life wants to create innovative products and work hard to ensure your retirement is safe and secure.
am best rating
B++ Good (5th of 13 ratings)
Product Type
MYGA
Product description

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.

term
5 yrs
minimum investment
$ 5,000
maximum investment
$ 1,000,000
maximum age
90
withdrawal allowance
After the first contract year, there is an opportunity each year to withdraw up to 10% of the contract value penalty-free.

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*Please provide an investment amount before applying.

Guaranteed Returns

Choose an investment amount and we’ll show you how much you can earn.

$
Should be at least $5,000
The maximum investment is $1,000,000
The field is required.
YEARRATEEARNINGSCUMULATIVE EARNINGSBALANCE
12.20%$ ?$ ?$ ?
22.20%$ ?$ ?$ ?
32.20%$ ?$ ?$ ?
42.20%$ ?$ ?$ ?
52.20%$ ?$ ?$ ?
Total$ ?$ ?$ ?

Enter an investment amount to calculate your earnings and account balance over the life of the contract.

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

Year
Percentage
1
7%
2
6%
3
5%
4
4%
5
3%
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.

other Information

phone number(888) 724-4267
Product brochure
agent
commission
1.25-2.50%. 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.
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Rate Effective DateOctober 1st 2021
premium TypeSingle Premium Annuity
account TypePersonal, Traditional IRA, Roth IRA, SEP-IRA, SIMPLE-IRA, 403(b).
Not available inNY, VI
options at
maturity

30 Days prior to the end of your contract term, you will have the option to choose from the following.

1. Withdrawal any amount free of charges and fees.
2. If you do nothing, the contract renews for the same term at the rates available at that time. Renewal rates for guarantee periods will be based on current economic conditions, and is guaranteed to be no less than the guarantee minimum interest rate of 1.00%.

death benefit provisionIf you pass away before the end of your annuity contract, your beneficiaries will receive the accumulated policy value. This value will include all interest you have earned and be passed without any charges or fees.
taxesAnnuities 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.
surrender schedule
7%, 6%, 5%, 4%, 3%
free-look period30 Days
RMDYes
market value adjustmentYes
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