Annuity FAQs
Are fixed index annuities suitable for me?
If you are close to retirement, you may find more options to fulfill your goals with a longer investment horizon. Annuities can often grant tax deferral benefits, which can be an advantage if you are nearing retirement. A MYGA may be a worthwhile choice, as it guarantees a return and provides a safe place to lock in your money for retirement. Whether a MYGA or something else is right for you will depend on the specifics of your situation.
How do the rates of interest compare?
Throughout the guarantee period, MYGAs offer clarity regarding the premium you invest and the surrender values at the conclusion of each year, while the assurances of SPDA’s are incorporated in the annuity payout sum and MYGA’s include explicit guarantees for growth rates.
What are the conditions for withdrawing?
MYGAs and SPDAs should not be considered as short-term savings accounts. This contract guarantees a net return on the investment, and there are no surrender charges or penalties for withdrawing funds during the guaranteed rate period. However, it is important to note that annuity disbursements cannot begin until the age of 59 and a half, without incurring any tax penalties.
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Build guaranteed and consistent income with MYGAs
The Guaranteed Year Multi self-serve Life’s Pillar annuity platform eliminates the broker/agent to provide you with the best rates in the industry, shielding your assets from market volatility.
Assured, dependable expansion.
Constructed by experienced professionals from the industry.
MYGAs offer a guaranteed and secure approach to growing your money, ensuring protection of your assets from market volatility.
We, at Life Pillar Insurance, empower our customers by offering self-serve, easy-to-use annuity products that eliminate the need for agents and brokers, while charging them based on their financial objectives and goals.
In order to optimize the profit on your annuity, our approach prioritizing the needs of our clients enables us to transfer the extra income that is typically set aside for agents and brokers – to you.
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Rates up to 5.75% Guaranteed
About Pillar Life
Pillar was built and founded by leaders in the management of industries, risk, and capital markets, and it is backed by renowned brands such as Pillar Capital GP, Bloomberg, and Barclays. Our team comes from top positions in management within these leading brands, bringing over 100 years of combined experience in the capital markets and insurance industry.
What does this imply for you? We are accredited by BBB, have a high rating (A.M. Best B+), and uphold a robust capital base to offer assurance and steadiness to our customers.
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