Company Information
Company Name
Delaware Life
Product Name
Delaware Life Pinnacle Plus MYGA 10
Description
This is a single premium, fixed annuity with a ten-year rate guarantee. After ten years, owners have a 30-day window to withdraw, transfer, or select a new guarantee period. If no election is made, a new term of the same length begins (where allowable) with Delaware Life.
Two interest bands are available. Deposits over $100K receive the highest interest rate while amounts between $25K – $99.9K receive a lower rate. Qualified and non-qualified funds are accepted and all contracts include an MVA provision. No surrender penalties at death.
AM Best Rating
A-
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
4.85%
Term
10 Years
Minimum Investment
$ 100,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 1%, .50%, 0%
What We Like About This Annuity
Competitive policy with a 10% free withdrawals beginning in year two. Lower interest rate bands available for smaller deposits. No surrender penalties at death. Fair decreasing surrender schedule.
Notable Features
At no extra charge, this policy includes Terminal Illness, Nursing Home, and Annuitization waivers. Certain conditions must be met to trigger these waivers. No charge for IRA Required Minimum Distributions.
Other Popular Products
Delaware Life offers both fixed and fixed-indexed annuities. They have two MYGA lines of business and several popular indexed annuity accounts. Most are designed for growth and income.
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About Delaware Life Insurance Company
Founded in 2013 and headquartered in Waltham, MA, Delaware Life specializes in fixed and fixed-indexed annuity policies. They are a member of Group 1001 which is a large insurance consortium across the US.
With over $30B under management and an A- rating with AM Best, Delaware Life is a respected company among advisors and consumers alike. Client needs and goals are their top priority, and they foster an environment for investment growth and success.