Company Information
Company Name
Western United Life
Product Name
Western United Navigator Elite MVA 5
Description
The Navigator Elite 5 is a single premium, fixed annuity with a five-year rate guarantee. After five years, owners have a 45-day window to withdraw, transfer, or renew their full account value. If no action is taken, the policy will renew for a new term
This policy includes a Market Value Adjustment and 10% free withdrawals annually. There are no surrender charges at death. Qualified and non-qualified funds are accepted.
AM Best Rating
B+ Good (6th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
10% / 10%
Rate
5.30%
Term
5 Years
Minimum Investment
$10,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
84
Surrender Schedule
8%, 7%, 6%, 5%, 4%, 0%
What We Like About This Annuity
This is a mid-term annuity designed for growth and income with 10% free withdrawals in all years. Low minimums to start. There are no surrender charges at passing.
Notable Features
This policy includes annuitization and terminal illness waivers at no cost. Policy auto-renews after a 45-day grace period. Market Value Adjustment included in the policy.
Other Popular Products
Western United offers alternative annuities with less liquidity and higher interest rates. The Navigator Ultra series offer higher interest rates with no annual free withdrawal options.
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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.