Company Information
Company Name
Royal Neighbors Life
Product Name
Royal Neighbors MYGA 10 Year
Description
This is a single premium, fixed annuity with a ten-year rate lock. After ten years, owners can withdraw, transfer, or reinvest their full account value. If no action is taken within 30 days, the account will renew for a second ten-year term at a new declared rate.
Two interest rate bands are available. The highest rate is for amounts greater than $100K. A lower rate applies to deposits between $10K – $99.9K. Lower rates apply to contracts originating in California. Qualified and non-qualified funds are accepted and there are no surrender penalties at passing.
AM Best Rating
A
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
Int / Int
Rate
5.25%
Term
10 Years
Minimum Investment
$ 100,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, .50%, 0%
What We Like About This Annuity
Competitive fixed interest rates from an A rated carrier. Free interest withdrawals all years and no surrender charges at passing. Several unique and comprehensive penalty free waivers are included. Fair 10 yr surrender schedule.
Notable Features
At no cost, this policy includes penalty free withdrawals for hospitalization, unemployment, disability, loss of residence, loss of owner's business, immediate family member passing, and account annuitization.
Other Popular Products
Royal Neighbors is well known for their competitive MYGA policies, but also offers a a suite of comprehensive life insurance products including term, whole, single premium, and final expense coverage.
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About Royal Neighbors of America
This A rated Fraternal Benefit Society has been serving their members for more than 125 years. They were founded by nine women in 1895 to provide policies for an underserved demographic at that time. Now they boast over $1.2 billion under management and a $180 million surplus.
Specializing in annuity and life insurance products, their mission is to Insure Lives, Support Women, and Serve Communities. As a member, clients will learn about several opportunities to help their communities and be a catalyst for positive outcomes.