Company Information
Company Name
National Security Life
Product Name
National Security Insurance MYGA 3
Description
The National Security MYGA 3 is a single premium, fixed annuity with a three-year rate lock. After three years, owners can take a full or partial withdrawal, transfer their account, or renew for a new term. If no action is taken, a new term begins with a new guarantee period and surrender charges.
At passing, beneficiaries receive the full account value with no surrender charges applied. This policy accepts non-qualified funds only. Available in only a select few states.
AM Best Rating
B
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
4.75%
Term
3 Years
Minimum Investment
$ 25,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
9%, 8%, 7%, 0%
What We Like About This Annuity
Low minimums to start with 10% free withdrawals beginning in year 2. No surrender penalties at passing.
Notable Features
Only non-qualified (post tax) funds are accepted. This policy does not accept IRA or pre-tax funds of any kind.
Other Popular Products
Beyond MYGAs, The National Security Group also offers life, health, accident, property and casualty insurance coverage.
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About The National Security Insurance Group
They were founded in Elba, AL in 1947. Along with their family of companies, they are committed to preserving the security of policyholders by providing a diversified array of insurance products and services.