Not Writing MYGAs? Now's Your Time to Shine

Not Writing MYGAs? Now's Your Time to Shine
August 10, 2022

MYGA rates are on fire. If you're not writing fixed annuity products for your senior clients, now's your time to blow them away with white hot rates.

Best Rates as of Wednesday, August 10, 2022:

  • 1 year: 1.50%
  • 2 year: 3.15%
  • 3 year: 3.75%
  • 5 year: 4.80%

Seniors are especially interested in a guaranteed rate for a guaranteed period of time. MYGAs offer safety from turbulent markets as the client's deposit will predictably grow.

Offering annuities is a wonderful service for your current clients, and they can also be a very competitive CD alternative.

$100,000 Deposit Example

Say your client has a $100,000 deposit. Their local bank has a CD offering 0.50%. We have a 5-year MYGA offering 4.80%.

At the end of 5 years, this would be your client's deposit:

  • MYGA: $126,417.27 (this amount is guaranteed – no ifs, ands, or buts about it!)
  • CD: $102,525.13

Even if the CD earned 1.00%, your client would only have $105,101.01 at the end of 5 years.

MYGA rates are hot – now's your time to shine as an agent in the senior market.

Get Started

If you're already contracted with our top annuity carriers:

  • Download the Client Needs Assessment and use it to guide your annuity conversation (Questions #9 and 10)
  • Ask your client "Are you satisfied with the present rate of return on your investments?" Regardless of the answer, follow up with "Are you dealing with the stock market or the bank?"
  • Check out our Annuity Sales Training Hub for videos to inspire and motivate you

If you are NOT yet contracted with our top annuity carriers:

Get after it!

Kirk Sarff
Director of Life Insurance & Annuity Sales

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