Why That MYGA Rate Is So Hot
February 26, 2019 by Wendy Swanson
Finding the best rate on multi-year guaranteed annuities (MYGAs) for your clients is easy. But knowing what’s behind that rate — the tradeoff — can be challenging.
Now may be the perfect time to educate yourself on what to look for, as 2019 may well be the year that MYGA sales soar higher than we’ve seen in many years.
The 2% to 3% interest rates we’ve painfully endured for the past decade are quickly being replaced by 3% to well over 4% guarantees. Based on the trending of the Federal Reserve rates and 10-year Treasury notes, we can anticipate continued increases in MYGA rates across the board, opening up huge opportunities in the field.
So, what are those tradeoffs that either you or the client must accept in order to get the guaranteed rate?
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