Key Highlights
- Athene MYGAs give you a guaranteed fixed rate of interest for a set term period. This means your money will always grow at the same steady rate.
- With these fixed annuities, your retirement savings can grow without you having to pay tax every year. This helps your money shape up and get bigger over time.
- You can choose how much you put in at the start. The initial premium can be as low as $5,000 or as high as $1 million.
- These annuities come with good features like a return of premium benefit and a death benefit. This gives you and your family more financial security.
- Athene MYGAs have competitive guaranteed interest rates. That keeps them as one of the top fixed annuity options out there.
Now, let’s look at how these annuities may fit with your own retirement savings goals.
Introduction
Planning for your retirement savings can be tough. There are many choices, and it is easy to feel lost. A fixed annuity from Athene Annuity & Life Assurance Company can give you something steady for the future. This life assurance company is known for products like fixed indexed annuities and the Athene annuity. One top choice is the Multi-Year Guaranteed Annuity (MYGA). These annuities give you a lifetime income and a guaranteed fixed rate of interest. You can pick choices that fit your needs best. Now, let’s look more at how Athene MYGAs can be a good tool for retirement.
Understanding MYGA and Its Benefits
A Multi-Year Guaranteed Annuity (MYGA) is a simple and steady way to help protect your retirement savings. With this financial product, you get a guaranteed fixed rate of interest that does not change during your chosen term period. That means you will know how much your money can grow in the long run, and it will be easy for you to plan for the future. MYGAs are good for people who do not want to take risks and need the safety of knowing what to expect.
There are many benefits to MYGAs. They can turn your money into lifetime income, and they can also offer some tax advantages. These things come together to help you build up your wealth over time. Learning more about what MYGAs are, what term period means, and how a guaranteed fixed rate of interest helps—they can all show you why these products are so useful for planning your future.
What is a Multi-Year Guaranteed Annuity (MYGA)?
A Multi-Year Guaranteed Annuity (MYGA) is a type of fixed annuity. It gives you a guaranteed interest rate for a set amount of time. This time is usually between three and ten years. With this kind of annuity, you can get steady returns each year. You do not have to worry about losing money to market changes or drops.
Key Benefits of Investing in MYGA
MYGAs have a lot of features that make them a strong choice for stable money planning. One big advantage is tax deferral. This means your money grows, and you do not have to pay taxes on it right away. With compounding, your money can grow more over time, which is good for your retirement.
Another important thing about MYGAs is the death benefit. This keeps your loved ones safe if something bad happens to you. If you pass away, the people you pick as beneficiaries will get the accumulated value of your annuity. This makes sure that your money is not lost.
Many MYGAs also have a return of premium feature. If times get tough and things in the market are not good, you can get back the money you paid in without a penalty. Because of this, and the fact that MYGAs give steady growth, they are a good option for people who want to stay safe with their money.
Now that we have talked about these benefits, let’s see how Athene adds even more value. They do this by giving competitive rates and options that fit your needs.
Detailed Look at Athene’s MYGA Rates
Athene’s MYGA products are easy to spot because they offer some of the most competitive guaranteed interest rates. You also get to choose term periods that work best for your own financial goals. This means you will see steady returns, so you know what to expect.
You can set up your investment with Athene in different ways, including options for your initial premium. This helps the plan work for different needs. Athene is also known for being a strong and trusted company with a wide range of products. Next, we will look at the current rates and see how they compare to others in the market.
Current Rates Offered by Athene
Athene now offers some of the most competitive guaranteed interest rates you can find in MYGAs. The fixed rate of interest stays the same for the full term period you choose. You can pick terms that last three, five, or seven years. The rate is set when you buy, so it will not change while you have this product.
It’s easy to begin with an initial premium of just $5,000. If you want, you can put in up to $1 million, so it works well for all savings goals. The fixed rate of interest helps you feel calm, even in up-and-down markets, because your money grows every year without being affected by changes in stock prices.
Athene products give you flexibility when your term period ends. You can add your money back in for a new term period at the current rate or choose to start getting payments. This way of working, along with its strong rate of interest, puts Athene MYGAs near the top for most people needing retirement savings products.
Comparing Athene’s Rates with Other Providers
When you look at Athene’s MYGA rates and compare them with other life assurance companies, you can see they have a strong lead in competitive guaranteed interest rates. Many of their competitors may have the same term period options. But, they do not always give you the same mix of flexibility and returns that Athene does.
For clarity, have a look at the table below:
| Attribute | Athene MYGA | Competitor A | Competitor B |
|—————————–|————————–|—————————|—————————|
| Guaranteed Interest Rate | 3.8%-5.2% (varies) | 3.5%-5.0% | 3.6%-4.8% |
| Market Value Adjustment | Included | Not Always Applicable | Included |
| Return of Premium Option | Yes | Not Available | Yes (with restrictions) |
Athene includes a market value adjustment with its fixed annuity choices. This helps you get higher current interest rates or adjust as per your liquidity needs in your contract. Their products are made to offer better returns than most other options in the fixed annuity field. Their focus on competitive guaranteed interest rates, strong return of premium features, and full market value adjustment means you get more options to fit your needs.
Conclusion
To sum things up, it’s important to know about Athene’s MYGA rates when you want to make smart choices about where to put your money. When you understand how Multi-Year Guaranteed Annuities work, you can make a plan that helps keep your money safe. You can also look at rates from the other companies to see how they compare. Athene gives you options with good rates that can help you meet your long-term goals.
When you look at your choices, remember to think about what can change these rates. This will help you get the most out of your money. If you want to make sure your money is safe for the future and want to know more, you can always ask for help or get more details about how to put money into MYGAs the best way.
Frequently Asked Questions
What factors affect the rates of MYGA?
Many things affect the rates of MYGAs. The way the economy is doing, how the issuing insurance company sets its rules, and the different state variation rules all matter. Interest rates have a big part, too. If there is a market value adjustment, that can change the growth potential of the contract.
How often do Athene MYGA rates change?
Athene MYGA rates can go up or down. This can happen because of product availability, changes in competitive guaranteed interest rates, or if current tax law changes. For the most up-to-date info, you should check with the Athene sales desk. They keep an eye on what is happening in the market so you get the best options.