September 21, 2023
Annuity Rates Are Going Up!
For MYGA, SPDA, and Flexible Premium annuities.
Good news! Single Premium and Flexible Premium annuities are getting a rate boost. Participation, bonus, GLIR, and roll-up rates — and annuity caps — are all changing soon.
Guaranteed Lifetime Income Rider (GLIR) payouts are going higher as well.
Multi-Year Guaranteed Annuity (MYGA) Effective 09/17/2023
- RetireMax Secure 5 is Increasing from 5.05% to 5.25%
- Green Mountain Freedom 5 NY is increasing from 4.80% to 5.00%
Effective 09/29/2023
- Income Driver 7 & 10 bonus rate will increase from 20% to 25% (Standard GLIR only).
- Income Driver 7 & 10 roll-up rate will increase from 8% to 10% .
- GLIR attained-age payout for SPDAs (Income Driver and Zenith Income 7 &10) will increase by .45%.
SPDA caps and participation rates are going up too.
Effective 10/08/2023
- GLIR attained-age payout for FIT Select Income will increase by .65%.
Caps and participation rates will increase, too, for FIT Select Income and FIT Secure Growth.
…and updating allocations has gotten easier!
Your clients can now update annuity allocations in the app or using the customer portal. Make sure to tell your clients!
