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December 19, 2018

Preserve MYGA 3

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3 Year MYGA
Avg Yield
3.10%
Guaranteed
3 Yrs
Commission*
Blurred commission%
  • Penalties waived at death
  • $10,000 NQ, $5,000 Q Minimum Premium

* (0-80) issues to age 90
MYGA Buckets
1st YearBaseGuar. Yrs.MYGA YieldMin. Guar.MVAEffective
$250k or more initial premium 3.20%3.20%33.20%1.00%Yes12/1/2018
Less than $250k initial premium 3.10%3.10%33.10%1.00%Yes12/1/2018
At the end of each guarantee period, the owner may lock-in interest rates for a new period. The interest rate credited during the new period will be the ”base“ interest rate credited for that guarantee period on similar MYGA contracts issued by the Company at that time. New surrender charges will apply along with any applicable Market Value Adjustment.
Product Features
Important Notes All policies are owner driven.
Rate Protection 45 Day rate lock based on application received date.
Issue Ages
Ages 0‑90
• 
NQ, Q
Minimum Premium
$10,000
• 
NQ
$5,000
• 
Q
Maximum Premium $1,000,000 without home office approval.
Surrender Charges
3 Years:
7-6-5-0%
Withdrawals 10% of AV after 1st year
Monthly withdrawals of interest as earned.
Required Distribution Penalties are waived when the RMD exceeds the penalty free amount. In the first policy year there is a commission chargeback.
Annuitization Available anytime with a minimum 10 year payout
Death Benefit Penalties waived at death
Commission
Ages 0‑80
• 
NQ, Q
• 
Blurred commission%
• 
Effective: 3/1/2012
Ages 81‑85
• 
NQ, Q
• 
Blurred commission%
• 
Effective: 3/1/2012
Ages 86‑90
• 
NQ, Q
• 
Blurred commission%
• 
Effective: 3/1/2012
Commission Notes Commissions paid Weekly on Fridays. Note: $25,000 cap on commission. Balance paid 30 days after delivery receipt received by HO.
Commission Chargeback 100% on any withdrawal or death within 1st contract year.
Riders
Illness
Nursing Home Care Rider
(Issue Ages: 0-75)
Guggenheim Life will provide full liquidity to assist with nursing home care expenses subject to the rider provisions which are: contract purchased prior to age 76 and confinement to a nursing home for 90 continuous days.
To meet the criteria for the rider, the contract must have been in force for a minimum of one year. There is no charge or fee associated with the rider and availability may vary by state of issue. If any of these situations occur, a partial or full withdrawal will be available with no surrender charge or market value adjustment.
Terminal Illness Rider
(Issue Ages: 0-69)
If the owner of the contract is diagnosed with a critical illness (heart attack, stroke or life threatening cancer) or is deemed terminally ill by a physician, Guggenheim Life will provide full liquidity to assist with the additional expenses that may arise. Eligibility is subject to rider provisions which are: Terminal illness; physician must certify that the owners life expectancy is nine months or less (24 month in VT); for one of the critical illness conditions to take effect, the contract must have been purchased prior to the owners age 70.
To meet the criteria for the rider, the contract must have been in force for a minimum of one year. There is no charge or fee associated with the rider and availability may vary by state of issue. If any of these situations occur, a partial or full withdrawal will be available with no surrender charge or market value adjustment.
Carrier Details
Guggenheim is rated B++ (Good) with A.M. Best. As of 12/31/2017 Guggenheim has $13.9 billion in assets, a 97% investment grade bond portfolio. The company was first incorporated in 2008.
Contact Us
Phone:954.476.2505
Toll Free:800.327.1460
Fax:954.476.0051
Fairlane Financial Corp.
1200 S Pine Island Rd Ste 100
Fort Lauderdale, FL 33324
Interest Rates, Participation Rates, Caps, Fees, and Commissions are shown here for comparative purposes only. We will not be held responsible for typographical errors or changes that might occur. Please consult your Agent Commission Schedule and Rate Notices.
This material is for agent use only and is not intended to be used for soliciting annuity sales from the public.
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