Company Information
Company Name
Western United Life
Product Name
Western United Discovery 6
Description
The Discovery 6 is a single premium, fixed annuity with a six-year rate lock. After sixyears, owners can withdraw, transfer, or maintain their annuity at a new guaranteed 12-month term which is declared annually. The account does not automatically renew for a new term. It remains liquid with a one year fixed rate.
The policy includes an MVA feature, yearly 15% free withdrawals, and accepts both qualified and non-qualified funds. Surrender charges are waived upon passing. Only $10K needed to start the policy.
AM Best Rating
B+ Good (6th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
15% / 15%
Rate
4.70%
Term
6 Years
Minimum Investment
$25,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
84
Surrender Schedule
8%, 7%, 6%, 5%, 4%, 3%, 0%
What We Like About This Annuity
Account includes 15% penalty-free withdrawals in all years. Low minimums to start. IRA friendly and no surrender charges at passing.
Notable Features
This account does not automatically renew at maturity. Ideal for owners who want to maintain a completely liquid annuity without surrender charges.
Other Popular Products
Western United offers alternative annuities with less liquidity features and higher rates. They also have popular final expense, accident, illness and injury coverage for seniors.
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About Western United Life
Headquartered in Houston, TX and a subsidiary of Manhattan Life, Western United is a niche insurance company specializing primarily in annuities. Their parent insurer was founded in 1850 and is one of the oldest operational carriers in the US.
Together, Western United and Manhattan Life offer a wide array of coverage including life insurance, accident, dental, vision & hearing, mortgage protection, Medicare Supplements, as well as several other ancillary lines of business.