Company Information
Company Name
American Gulf Life
Product Name
American Gulf Anchor 6 Year MYGA
Description
The American Gulf Anchor 6 year fixed annuity is a multi-year account with a six-year rate guarantee. After six years, owners have a 30-day window to withdraw, transfer, renew, or annuitize their entire account balance. If no action is taken, then a new 6-year term will begin with a new interest rate and surrender schedule.
This is a compounding fixed annuity with optional withdrawal and liquidity features. Free partial withdrawal, surrender-free death benefit, terminal illness, and nursing home riders can all be independently added, but will lower the annual interest rate. Required Minimum Distributions are available at no cost.
This policy accepts qualified and non-qualified funds and is approved in several states.
AM Best Rating
B++ Good (5th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
N/A
Rate
6.30%
Term
6 Years
Minimum Investment
$10,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
89
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 0%
What We Like About This Annuity
This policy has low minimums to start and offers very competitive fixed annuity rates nationally. Owners can add the optional riders they want or enjoy a higher growth rate for the term of their contract. The contract is RMD-friendly for IRA owners.
Notable Features
This annuity offers four optional riders. The Free Partial Withdrawal Rider reduces the annual rate by .15% and allows for 10% free withdrawals beginning in year two. The Death Benefit Rider also reduces the annual rate by .15% an waives surrender penalties at death. The Nursing Home Confinement and Terminal Illness riders each reduce the annual rate by .05% respectively. Please download the brochure for more details.
Other Popular Products
American Gulf offers specializes in fixed annuity accounts only. They offer 5, 6, and 7 year MYGAs for investment purposes.
Download Brochure
About Gulf Guaranty Life Insurance Company
American Gulf Life was founded as Gulf Guaranty Life Insurance Company in 1970. Originally, they were an issuer of Credit Life and Disability policies before expanding to offer Final Expense Life Insurance for funeral expenses.
In 2025, they were acquired by Acturion and now focus on annuity contracts and retirement solutions. They are a B++ rated carrier offering annuities in several states. They focus on high-quality assets to generate income while providing protection to their policyholders. Core values for American Gulf include the four pillars of Integrity, Trust, Stability, and Excellence.