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The main difference between traditional fixed annuities and MYGAs is the period of time that the contracts guarantee the fixed interest rate. MYGAs guarantee the interest rate for the entire duration of the contract, which could be, for example, 10 years.
Nassau Financial Group, L.P. has successfully completed the acquisition of Delaware Life Insurance Company of New York (DLNY) from Delaware Life Insurance Company, a subsidiary of Group 1001.
A MYGA may be best if you want a higher yield and plan to keep your money in the annuity for several years. You could also run into higher minimum investment requirements with a MYGA. A CD may be better if you're saving for a financial goal within one to three years and have a smaller amount to invest.
Protection, and guaranteed income Pinnacle MYGA® is an insurance product that is designed to help you meet your long-term retirement needs. It is a simple, steady, guaranteed way to build retirement savings without the risk of investing in stocks, bonds, or mutual funds.
year guaranteed annuity, or MYGA, offers a predetermined and contractually guaranteed interest rate for a fixed period of time.
Delaware Life receives a rating of A- (Excellent) from AM Best. It is not the highest score available, but it is still an above-average score that denotes financial reliability.
The downside of a MYGA (Multi-Year Guaranteed Annuity) is its lack of liquidity. Early withdrawals often incur substantial surrender charges. Additionally, the fixed interest rate might not outpace inflation, potentially eroding the real value of your investment over time.