Company Information
Company Name
Nassau Financial Group
Product Name
Nassau Life Simple Annuity 4 Year
Description
The Nassau Life Simple Annuity 4 is a single premium, compounding rate fixed annuity with a four-year rate guarantee. After four years, owners have a 30-day window to withdraw, transfer, or renew their account balance. If no option is chosen, the account will renew for a new term at the current rate at that time.
This policy accepts qualified and non-qualified funds and includes a Market Value Adjustment. Free 5% withdrawals are available in all years and there are no surrender charges at death. Surrender charges can be completely waived for certain approved health circumstances.
AM Best Rating
B++ Good (5th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
5% / 5%
Rate
5.30%
Term
4 Years
Minimum Investment
$5,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
85
Surrender Schedule
9%, 8%, 7%, 6%, 0%
What We Like About This Annuity
This policy has low miniums to start and free 5% withdrawals in all years. There are no surrender or negative MVA charges at death. Nassau offers prompt agent & customer service assistance.
Notable Features
At no cost, this policy includes both a Nursing Home and Terminal Illness waiver. If approved, this allows for full surrender of the contract with no charges or penalties.
Other Popular Products
Nassau also offers competitively priced Medicare Supplements with a strong renewal history. However, they may be best known for their indexed annuities with lifetime income withdrawals. This income can double to cover healthcare needs (5 year max) - even when the account value is zero.
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About Nassau Life and Annuity Company
Headquartered in Hartford, Connecticut, Nassau Life boasts over $24 billion in assets under management. They were founded in 1851 and specialize in fixed and indexed annuities as well as Medicare Supplement policies.
They have recently expanded their fixed and indexed annuity offerings to include policies designed for lifetime income, premium bonuses, and enhanced long term care payouts. Their annuities provide solutions in four core categories, including: Growth, Income, Care, and Family.
Their stated mission is to be consumers’ carrier of choice, proven by their 374,000 policies and contracts currently in force. They are known for prompt and knowledgeable customer service agents dedicated to reliable service to their clients and agents.