Company Information
Company Name
Sagicor Life
Product Name
Sagicor Milestone Max MYGA 3
Description
The Sagicor Life Milestone Max MYGA 3 is a single premium, fixed annuity with a three-year rate guarantee. After three years, owners have a 30-day window to withdraw, transfer, or renew their entire account balance. If no action is taken, a new term will begin and 10% free withdrawals will be available in year one.
This account can be renewed twice and then it becomes fully liquid with a one-year guaranteed rate and no surrender penalties.
The highest rates are available for deposits over $75K. Deposits between $25K-$75K receive a lower rate. Due to state-specific regulations, lower rates apply to accounts originating in FL and CA. This policy is RMD-friendly in year one for IRA owners. There are no surrender penalties upon passing.
AM Best Rating
A- Excellent (4th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rates
| 4.65% | $75,000 | — | $1,000,000 |
| 4.40% | $25,000 | — | $74,999 |
Term
3 Years
Minimum Investment
$75,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
90
Surrender Schedule
9%, 8%, 7%, 0%
What We Like About This Annuity
This is short three year term. Free 10% withdrawals are available beginning in year two. Penalty-free annuitization options available beginning in year two for income options.
Notable Features
Penalty free withdrawals of 100% of the account value are available after one year for a terminal illness and/or nursing home confinement needs.
Other Popular Products
Sagicor offers a popular single premium, indexed universal life insurance policy designed for account growth, wealth transfer and estate planning needs. Their immediate annuities are also competitive for instant income solutions.
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About Sagicor Life Insurance Company
Founded in 1954, Sagicor Life is a full-service life insurance and annuity company doing business in 45 states. Their corporate offices are in Tampa, FL while the home office is in Scottsdale, AZ.
Their corporate mission is to improve the lives of the people in the communities where they work and operate. Through their values, they look to better serve their families, friends, and neighbors by offering competitive insurance solutions in the life and annuity marketplaces.