Product Overview

Milestone Max MYGA earns a guaranteed credited interest over a number of years known as a guarantee period. Your contract value grows on a tax-deferred basis and is not exposed to market losses during the 3-, 4-, 5-, 6- or 7-year guarantee period.2

At the end of your initial guarantee period, you can withdraw your funds with no surrender charges during your 30-day penalty-free window, leave them to grow for another guarantee period, if available, or begin taking regular income through annuitization.3

Features & Benefits

  • Your premium earns a guaranteed credited interest rate and your contract value compounds on a tax-deferred basis.

  • If you develop a terminal illness after your first contract year or are placed in a nursing home or confined care facility after your contract effective date, you can take a penalty-free withdrawal of up to 100% of your accumulation value.3,4

  • Beginning in contract year two, you may withdraw 10% of the last contract anniversary’s accumulation value penalty free.3
  • There is a minimum withdrawal requirement of $500.

  • If your contract is qualified and you’re subject to RMDs due to your age, they’re available penalty free beginning in contract year one.5

  • In the event of your death, your beneficiary(ies) will receive the full account value.
  • Beneficiaries can choose a lump sum payment or any of the available annuitization options.

  • Surrender charges apply to all withdrawals above your penalty-free withdrawal limit.3 Each guarantee period has its own surrender charge schedule.
  • Surrender charges are a percentage of your accumulation value and decrease over time. If your annuity renews for a new guarantee period, the surrender charge schedule resets and starts over.

    Guarantee Period
    Contract Year 3-Year 4-Year 5-Year 6-Year 7-Year
    1st 9% 9% 9% 9% 9%
    2nd 8% 8% 8% 8% 8%
    3rd 7% 7% 7% 7% 7%
    4th - 6% 6% 6% 6%
    5th - - 5% 5% 5%
    6th - - - 4% 4%
    7th - - - - 3%

Footnotes

1Milestone Max MYGA is not available in California. However, Sagicor’s Milestone Multi-Year Guaranteed Single Premium Deferred Annuity (Milestone MYGA) is available in California.
2Years referenced are contract year terms.
3Withdrawals made prior to age 59½ are subject to ordinary income taxation and a 10.00% tax penalty. Sagicor does not provide tax or estate planning advice. You should consult with your tax advisor(s).
4Not long-term care insurance. Please see the contract to review qualification specifications.
5In the first contract year, the owner may elect to withdraw penalty free an amount up to the contract’s full required minimum distribution (RMD) amount Sagicor has calculated for the applicable calendar year; and in each contract year after the first, the RMD amount that is available for the owner to elect to withdraw penalty free in that contract year is equal to the contract’s RMD amount that Sagicor has calculated for the applicable calendar year, less any amount that in that contract year the owner has already withdrawn penalty free. In each contract year, the total RMD amount that the owner has elected to withdraw penalty free during that contract year will reduce, by an equal amount, the amount that is available to the owner during that contract year to otherwise withdraw penalty free.

If you have questions about the contract and riders, please contact your licensed insurance or financial professional.

Products issued by Sagicor Life Insurance Company. Home Office: Scottsdale, AZ. Products not available in all states, and state variations may apply. Sagicor does not provide tax or estate planning advice. You should consult with your tax advisor(s). Annuities and life insurance products have limitations and restrictions, including surrender charges. Guarantees are based on the claims-paying ability of Sagicor. Sagicor issues other fixed annuities and life insurance products with similar features, benefits, limitations and restrictions. Contact Sagicor for more information. Contract Forms: ICC243010, 3010, and 3010FL. Rider Forms: ICC246080, 6080, and 6080FL.

Not FDIC insured. Not insured by any federal agency. Not a deposit or other obligation of the bank. Not bank guaranteed.