Company Information
Company Name
Sagicor Life
Product Name
Sagicor Milestone Max MYGA 7
Description
The Milestone Max MYGA 7 is a single premium, fixed annuity with a seven-year rate guarantee. After seven years, a new one-year guaranteed rate is applied and the account becomes fully liquid and free from surrender charges.
The highest rates are available for deposits over $75K. Deposits between $25K-$75K receive a lower rate. Due to state specific rules, lower rates apply to accounts generated in FL and CA. Policy is RMD friendly in year one for IRA holders. Full account value for beneficiaries at passing.
AM Best Rating
A-
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
5.15%
Term
7 Years
Minimum Investment
$ 75,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
90
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 0%
What We Like About This Annuity
Free 10% withdrawals are available beginning in year two. Penalty-free annuitization options available beginning in year two. The account does not automatically renew. A new, one year rate is declared and all funds are completely liquid.
Notable Features
Penalty free withdrawals of 100% of the account value are available after one year for a terminal illness and/or nursing home confinement needs.
Other Popular Products
Sagicor offers a popular single premium, indexed universal life insurance policy designed for account growth, wealth transfer and estate planning needs. Their immediate annuities are also competitive for instant income solutions.
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About Sagicor Life Insurance Company
Founded in 1954, Sagicor Life is a full-service life insurance and annuity company doing business in 45 states. Their corporate offices are in Tampa, FL while the home office is in Scottsdale, AZ.
Their corporate mission is to improve the lives of the people in the communities where they work and operate. Through their values, they look to better serve their families, friends, and neighbors by offering competitive insurance solutions in the life and annuity marketplaces.