Royal Neighbors California MYGA 9 Year
Current Fixed Rates
| 5.60% | $100,000 | — | $1,000,000 |
| 5.40% | $10,000 | — | $99,999 |
This Royal Neighbors MYGA 9 Year is for California residents only. It is a single-premium, fixed annuity with a nine-year rate lock and no Market Value Adjustment rider. After nine 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 nine-year term at a new declared rate. The account does not automatically renew at the end of the second nine-year term (if chosen). Instead, a new annual rate is declared, and the annuity account remains completely liquid with no surrender penalties. A Member Emergency Access Rider is automatically included in the contract.
Two interest rate bands are available. The highest rate is for deposits greater than $100K. A lower rate applies to amounts between $10K – $99.9K. Qualified and non-qualified funds are accepted, and there are no surrender penalties upon passing. Free earned interest withdrawals are available in all years.
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
9 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
8.50%. 7.50%, 6.50%, 5.50%, 4.50%, 3.50%, 2.50%, 1.50%, 0.50%, 0%
Maximum Age
85
Minimum Investment
$100,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
This unique 9-year fixed annuity offers competitive fixed interest rates from an A rated carrier for California residents. Free interest withdrawals are included in all years, and there is no MVA rider. There are no surrender charges at passing. Several unique and comprehensive penalty-free waivers are included with the MEA Rider.
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.