MYGA Holders, which Annuity Broker did you use to buy it?

[pletal]

Americo? They actually do have client access. All you need is the policy nbr that can be found on the Blueprint site. It is still fairly thin on details but the balance is updated monthly (I think). I was too lazy to create an account at Americo until recently but I have 2 annuities there going back 20 months.
Good info on Canvas and Gainbridge. I’d be comfortable buying from there.

Thanks for the update on Americo, I will check it out. Trying to get enough money in decent fixed products to call it quits, at least full time

 

[ShokWaveRider]

Thanks for the update on Americo, I will check it out. Trying to get enough money in decent fixed products to call it quits, at least full time

Agreed, us too, although it does resurface every 5 years, but I can deal with that. Goal is to have the whole Nest egg making as close to 5% as we can get for the next 5 years. That plus our SS is more than twice as much as what we will ever need.

 

[Luvtoride]

Does anyone here have a MYGA with a B++ Rated company? Any issues? Wondering whether it is worth getting a small (~$200k) MYGA for 3 years at 4.6%.

Specifically looking at Canvas and Puritan Life.

I would have no hesitation at all using a B++ company for a MYGA. Mine is a Harborview MYGA issued by Oceanview Insurance which is a A- company, which is just above the rating you mentioned. All the same provisions with a very good rate on my 3 year MYGA. I’m glad that my first 3-5 years of additional income needs in retirement will be coming out of this vehicle vs. my equity portfolios.

 

[ShokWaveRider]

I would have no hesitation at all using a B++ company for a MYGA. Mine is a Harborview MYGA issued by Oceanview Insurance which is a A- company, which is just above the rating you mentioned. All the same provisions with a very good rate on my 3 year MYGA. I’m glad that my first 3-5 years of additional income needs in retirement will be coming out of this vehicle vs. my equity portfolios.

Thanks, This does help. I guess a long as each contract, with each person is under Your State's Guarantee Association limits, it is a no-lose decision.

 

[jazz4cash]

Thanks, This does help. I guess a long as each contract, with each person is under Your State's Guarantee Association limits, it is a no-lose decision.

The way I think about that is I am VERY comfortable that I will eventually be made whole, but it could take a long time to sort things out if an insurer goes under. Therefore I try not to diversify so I would not suffer if an income stream is not available for a year or so.

 

[jazz4cash]

The way I think about that is I am VERY comfortable that I will eventually be made whole, but it could take a long time to sort things out if an insurer goes under. Therefore I try not to diversify so I would not suffer if an income stream is not available for a year or so.

That should read “I try to diversify” but I guess you knew what I meant!

 

[Bruno]

Does anyone here have a MYGA with a B++ Rated company? Any issues? Wondering whether it is worth getting a small (~$200k) MYGA for 3 years at 4.6%.Specifically looking at Canvas and Puritan Life.

I had a 5 yr MYGA with SSLCO Sentinel Security Life that i renewed a couple of yrs ago for another 5 yrs @ 3.92% with free 10% withdrawl. I had only 30 days when i renewed it. There web site is nice and shows Interest History. I dont think they are a big company and sometimes takes a while to get someone on the phone.

 

[Bruno]

Do any of these MYGA allow for automatic monthly interest payments?

I believe with mine its only 1 withdrawl per contract yr. but you know last in, first out so I believe you could figure how much to take each year.