Guggenheim Preserve MYGA 10

It’s never too early to start planning for retirement. Selecting a strategy that works best involves assessing your goals, time horizon, and risk tolerance. 

A single premium deferred annuity is a product that, for a single initial investment, earns a fixed rate of interest allowing your money to grow on a tax-deferred basis until you decide to begin receiving annuity payments. 

Preserve Multi-Year Guaranteed Annuity, a single premium deferred annuity, offers a guaranteed interest rate for the entire 10-year guarantee period.

The Guggenheim Preserve MYGA 10 may be appropriate for individuals who:

• Want a CD alternative due to low CD rates.
• Seek to accumulate money for retirement.
• Have a conservative risk tolerance and want to invest an inheritance or other lump sum.
• Want to secure a fixed annuity payment but not immediate income.

1. Withdrawal any amount free of charges and fees.
2. If you do nothing, the contract renews for the same term at the rates available at that time. Renewal rates for guarantee periods will be based on current economic conditions and are guaranteed to be no less than the guaranteed minimum interest rate of 1.00%.

GUARANTEED RATE LOCK PERIOD

The rate is locked in for 45 days from the date the application is signed. If the funds are received after that period the rate might be subject to change and you will receive the rate in effect at that time.

FREE-LOOK PERIOD

30 days

WITHDRAWALS

• Free Withdrawals: Interest Only in the 1st year and 10% in years 2 thru 10.
• Interest-only withdrawals: Yes
• Cumulative: No
• Market value adjustment (MVA): Yes
• Return of premium: No

Annuitization
Available 5 years after the initial guarantee period for a minimum of 10 years.

Nursing Home
Should the need arise, the Preserve Multi-Year Guaranteed Annuity 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 in force for a minimum of one year, followed by confinement to a nursing home for 90 continuous days.

Terminal Illness
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, the Preserve Multi-Year Guaranteed Annuity will provide full liquidity to assist with the additional expenses that may arise. 

Eligibility is subject to rider provisions which are: terminal illness; the physician must certify that the owner’s life expectancy is nine months or less; for one of the critical illness conditions to take effect, the owner must be diagnosed after the contract has been in force for at least one year; and the owner is not older than age 70.

Guggenheim Preserve MYGA 10 Year Annuity Brochure

Taxes:

In general, annuities grow tax-deferred, meaning you don’t pay taxes until you withdraw your money from the annuity.

When you withdraw from your annuity the interest earned will be taxed at your ordinary-income tax rate.

Non-Qualified Annuity

Non-qualified funds are cash, checking, savings, life insurance cash value, etc. Only the interest you have earned will be taxed as ordinary income.

Qualified Annuity

Qualified funds are 401k, IRA, SEP, 403b, TSA, etc. Both principal and interest will be taxed as ordinary income as you withdraw money.

Roth IRA Annuity

Withdrawals from Roth IRA annuities are tax-free if the IRS requirements are met.

Early-Withdrawals

If you withdraw money from your annuity before you turn age 59½, you may receive a 10% IRS penalty in addition to paying ordinary income taxes.

Pros of the Guggenheim Preserve MYGA 10 Year Fixed Annuity

• Pays a guaranteed interest rate much higher than current CD Rates are paying.
• Your interest grows tax-deferred meaning you do not pay taxes on your interest until you withdraw it from your annuity.
• The death benefit is full account value and may avoid probate.
• Liquidity options provide you the access to the money that you need.