Royal Neighbors MYGA 10 Year
Current Fixed Rates Bands
The Royal Neighbors MYGA 10 is a single-premium, fixed annuity with a ten-year rate lock. After ten years, owners can withdraw, transfer, or reinvest their full account value. If no action is taken within 30 days, the account will renew for a second ten-year term at a new declared rate.
Two interest rate bands are available. The highest rate is for amounts greater than $100K. A lower rate applies to deposits between $10K – $99.9K. Lower rates apply to contracts originating in California. An MVA and Member Emergency Access Rider are automatically included in the contract.
Qualified and non-qualified funds are accepted, and there are no surrender penalties upon passing. Free earned interest withdrawals are available in all years. The contract guarantees two interest rate periods. After the second 10-year term, the contract is guaranteed not to be renewed at a rate below the minimum interest rate.
More Annuity options from: Royal Neighbors Life
Notable Features
At no cost, this policy includes a Member Emergency Access Rider that allows for a one-time, penalty-free withdrawal of up to 50% of the contract value after the first year. This can be triggered by events such as hospitalization, unemployment, disability, loss of residence, loss of the owner’s business, or immediate family member passing.
In addition, early annuitizations during the surrender term (at the discretion of Royal Neighbors) can waive surrender charges, creating a penalty-free stream of income.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
10 Years
Free Withdrawals Yr1 / Yr2+
Interest / Interest
Additional Withdrawal Information
This annuity allows for penalty-free accumulated interest withdrawals after the first month. Required Minimum Distributions for IRA owners are free from surrender charges. The unique Member Emergency Access Rider also allows for additional withdrawals in the event of hardship.
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, .50%, 0%
Maximum Age
85
Minimum Investment
$100,000
Maximum Investment
$1,000,000
What We Like About This Annuity
This fixed annuity offers competitive fixed interest rates from an A rated carrier. Free interest withdrawals are included in all years. There are no surrender charges at passing. Several unique and comprehensive penalty-free waivers are included with the MEA Rider. It has a fair 10 yr surrender schedule.
Other Popular Products
Royal Neighbors is well known for its competitive multi-year guaranteed annuity policies, but they also offer a suite of comprehensive life insurance products. Their term, whole, final expense, and single-premium life insurance coverage are competitive nationwide.
About Royal Neighbors Life
Royal Neighbors Life
AM Best Rating: A Excellent (3rd of 13 ratings)
https://www.royalneighbors.org/
About Royal Neighbors of America
This Fraternal Benefit Society was founded by nine women in 1895 and now boasts over 280,000 members. They were created to provide policies for an underserved demographic at that time.
With over $1.3 billion under management and a $160 million surplus, this A rated insurance carrier is a popular choice for consumers across the country.
Specializing in guaranteed fixed annuity policies and life insurance products, their mission is to Insure Lives, Support Women, and Serve Communities. As a member, clients can learn about opportunities to help their communities and be a catalyst for positive outcomes in their neighborhoods.