For example, the 5-year MYGA offers a 3.5% interest rate. If you compare that to the big national banks on Bankrate.com, and this annuity beats every one of their five-year guarantees, PLUS you can take out 10% every year penalty-free, let your money grow tax-deferred (unlike CDs), AND there’s no “re-lock” provision on the back end like many other CDs or annuities, you are truly free to do with the money what you want. You can leave it be at the new rates five years from now without locking it back in, or you can take their ball and go home… free and clear… no games.
The product brochure is below and in next blogpost we will explain what is Fixed Annuity and why it's better than CD.