Looking For A Better Rate of Return?

Current rates are:

2.00% for 36 Months

3.35% for 60 Months

 

CD’s vs. Fixed Rate Annuities

Multi-Year Guaranteed Annuities (MYGA’s) often make a great alternative to Certificates of Deposit (CD’s.)  Like CD’s, MYGA’s offer a guaranteed fixed interest rate for an agreed period of time.   In addition to favorable rates, another advantage to MYGA’s is tax deferral, you don’t pay taxes on the interest until you take it out. Whereas, with CD’s you pay tax on the interest each year.  So what’s the catch?  Not really a catch, but rather a consideration… Similar to CD’s, if you withdraw the funds early you would be subject to a penalty.  In other words, if you select a 60 month annuity, be certain the money you put in can stay the entire period to avoid these early withdrawal penalties. At the end of the agreed period, you are free to take your principal and interest penalty free.  If leaving the funds in your account for the selected time frame is not a problem, annuities may be your answer to finding a better guaranteed interest rate.

 

Contact Beau or Brad at 309.833.1755 for information or by clicking here: Contact Us

     Pyles, Brad

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Annuity is underwritten by Bankers Life Insurance Company, which is the only entity financiallyobligated under the annuity. This annuity has limitations that may not be described here. Thisannuity is non-renewable and cannot be canceled by Bankers Life Insurance Company except inthe event of misrepresentation. For costs and complete details of the annuity, contact Bankers LifeInsurance Company at bankerslifeinsurance.com. Annuity form approved in AK, AL, AR, AZ, CO,DC, DE, FL, GA, HI, ID, IL, IN, KS, KY, LA, MD, MI, MN, MO, MS, MT, NC, ND, NE, NM, NV, OH, OK,PA, SC, SD, TN, TX, UT, VA, WA, WV, WY. Approval does not imply endorsement of any insurer
or product. Bankers and its representatives do not give legal or tax advice. This content reflects our understanding of tax rules and regulations in effect at the time of publication. Taxes must be paid on deferred earnings when accessed. You may be responsible for income taxes on amounts withdrawn, including a 10% penalty for withdrawals prior to age 59 1/2. *Monthly interest payment option available after 30 days. **Policyowners may withdraw up to 10% of the accumulated contract value each year after the first year, without a withdrawal charge. No MVA. ***If a policyowner is required to take a Required Minimum Distribution (RMD) on a tax-qualified annuity, the withdrawal charges are waived on any RMD amount that exceeds the 10% free withdrawal provision. (RMD distributions are included in the 10% free withdrawal amount.) Any withdrawal requested in excess of that allowed under one of the penalty-free withdrawal options is subject to withdrawal charges. Rate subject to change. BLIC 9481 1114