Looking For A Better Rate of Return?

Current rates are:

2.00% for 36 Months

3.00% 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

Ingledue,-BeauTeam     Pyles, Brad

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Sample rates are through Liberty Bankers Life with single premium deferred annuities. Bankers Elite (base policy form Bankers Elite-0112-IL) is a single premium deferred annuity.  All withdrawals during the initial guarantee rate period are subject to surrender charges and market value adjustment.  The death benefit may be subject to surrender charges and market value adjustment unless the death benefit is paid out over a 5 year period or longer.  Maximum surrender charges are 7.9, 7.0, 6.2, 5.3, 4.4, 3.5, 2.7% but become zero after the initial rate guarantee period expires. The minimum guaranteed rate after the initial rate guarantee expires will be determined each year, based on a formula prescribed by the insurance code.  It may not be less than 1% nor more than 3%.  The rate determined by this formula for 2015 is 1.0%. Rates effective 2/1/15 and are subject to change.  The IRS may impose a penalty for withdrawals prior to age 59 ½.  Annuities issued by Liberty Bankers Life Insurance Company, 1605 LBJ Freeway, Suite 710, Dallas, TX 75234. www.libertybankerslife.com