Oceanview Harbourview 3 Year Fixed Annuity

Oceanview Harbourview 3 Multi-Year Guaranteed Annuity offers you the ability to grow your assets with a fixed interest rate and accumulate tax-deferred growth while preparing for a retirement income stream.

Advantages of a Multi-Year Guaranteed Annuity (MYGA)

• Principal Protection
• Guaranteed Interest Rates
• Tax-Deferred Earnings
• Lifetime Income Options

Features

• Issue Age: 0 through 89 (as of age last birthday)
• Premium Requirements: $20,000, non-qualified and qualified assets
• Withdrawals: 10% of the account value per annum, starting in year two. 10% is not cumulative. Minimum withdrawal amount= $250.
• Death Benefit: Account value (No MVA or surrender charges) or spousal continuation
• 20 Day Free Look Period to Cancel Your Contract: You may cancel the contract by sending it back to the issuing company. Upon cancellation, the company will return the purchase payment to you. Some states allow for 30 days free look.
• Surrender Charges: A surrender chargeapplies to all withdrawals over 10% during a contract term and reduces your contract value.

5-Year Surrender Charge Period

• Year 1: 9%
• Year 2: 8%
• Year 3: 7%

• Withdrawals: 10% of the account value per annum, starting in year two. 10% is not cumulative. Minimum withdrawal amount= $250.

Oceanview Harbourview Fixed Annuity Brochure

Taxes:

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

When your withdrawal 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 this 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.
• Death benefit is full account value and may avoid probate.
• Liquidity options to provide you the access to your money that you need.