The new AnnuityAdvantage® Classic offers a high guaranteed rate, liquidity flexibility and a loyalty bonus.
MEDFORD, GOLD /ACCESSWIRE/June 30, 2022/ Customers can be credited up to 4.30% (effective annual rate), guaranteed, on a new five-year fixed rate annuity available exclusively through AnnuityAdvantage.
“It currently pays the highest effective annual rate of any five-year annuity we know of,” said Ken Nuss, CEO of AnnuityAdvantage, an online annuity marketplace.
Integrated with AnnuityAdvantage® Classic, at no additional cost, a loyalty bonus is awarded at the end of the guaranteed period, assuming no withdrawals are made other than RMDs.
While many annuity clients sacrifice liquidity characteristics for unforeseen future events in exchange for increased returns, we believe it is unfair to ask clients to make this choice at contract signing.
If clients decide to take the additional liquidity beyond the RMDs, they are guaranteed 4.18% during the guarantee period. If they choose to forgo the additional liquidity, they will receive the loyalty bonus of 0.60% and an effective rate of 4.30%.
The AnnuityAdvantage® Classic allows policyholders to make this choice at any time throughout the life of the policy.
Liquidity and flexibility
The contract holder can withdraw up to 10% each year without penalty from the beginning of the second contract year. The guaranteed death benefit allows a withdrawal of the full value of the account without redemption fees in the event of the death of the contract holder.
Clients who hold AnnuityAdvantage® Classic as an IRA can make penalty-free withdrawals for their Required Minimum Distributions (RMDs) while still qualifying for the Loyalty Bonus.
The annuity is available with a single premium of $1,000 to $5 million. Interest withdrawals before age 59.5 may be subject to a 10% federal penalty tax. Withdrawals above the 10% Free Withdrawal may be subject to a Contract Surrender Fee (see Contract for details).
Interest earned is tax-deferred until withdrawn. At the end of the five-year guarantee period, the policyholder can choose to renew for another term, withdraw the proceeds, or transfer them tax-free to a new annuity with the same insurance company or another.
AnnuityAdvantage offers free annuity comparisons
A free annuity comparison service with interest rates from dozens of insurers is available from AnnuityAdvantage, founded in 1999.
One of the company’s annuity specialists can discuss the pros and cons of fixed rate annuities and other types of annuities and what might be best for you. We strive to nnever apply any commercial pressure on our customers and our aim is tostill provide sound advice and access to the most competitive annuities on the market.
For more information about AnnuityAdvantage® Classic and other annuities, visit https://www.annuityadvantage.com or call (800) 239-0356.
Media contact: Henry Stimpson, [email protected]
THE SOURCE: AnnuityAdvantage
See the source version on accesswire.com: