Wichita National Life Security MYGA

A MYGA is a fixed deferred annuity that credits a contractually guaranteed interest rate for a set number of years (the surrender charge period). Taxes on interest are deferred until distribution.

3, 5, 7, and 10‑year durations are available, subject to state approval and current carrier guidelines.

You may select either no withdrawals during the term or up to 10% penalty‑free withdrawals annually, if available in your contract and state. Exceeding available amounts may trigger surrender charges and, if applicable, a market value adjustment (MVA).

Yes. After issue and funding, the declared guaranteed rate remains level for the chosen term, per contract provisions.

Minimums often start around $5,000–$10,000 for qualified funds; higher for non‑qualified. Maximums vary by age, state, and carrier rules—confirm current guidelines before funding.

MYGAs generally credit interest annually. The on‑page calculator is illustrative only; actual accumulation is determined by contract terms.

Interest grows tax‑deferred and is taxed as ordinary income when withdrawn. Early distributions before age 59½ may incur a 10% IRS penalty unless an exception applies.

Near maturity the carrier typically offers options such as renewal, 1035 exchange, annuitization, or withdrawal during a window without new surrender charges. See your contract and carrier notices.