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Multi-Year Guarantee Annuity Details

Product Name

Pinnacle MYGA 5

Annuity Type

Multi-Year Guarantee Annuity

Issuing Insurance Company and Ratings

A-
(4th of 15 ratings)
BBB+
(8th of 20 ratings)
Not Rated
Not Rated
52
(percentile of rated companies)

Product Information

The Pinnacle MYGA 5 is a deferred multi-year guarantee annuity issued by Delaware Life Insurance Company.

The current 5 year guarantee period annual yield is 2.55% (see Rate Details below). This is the guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window. The Pinnacle MYGA 5 has a full penalty free withdrawal window after 5 years.

During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. Beginning in the second contract year, this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year.

This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.

Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.

Delaware Life Insurance Company is rated “A-” by A.M. Best, was founded in 1970, and has over $16.9 billion in total assets.

Rate Details

Aug 3rd, 2020
Not Scheduled
5 years

Premium Amount: $5,000 - $1,000,000

Current
5 Year Guarantee Period Annual Yield: 2.55%
Interest rate start of year 1 through end of year 5: 2.55%

Initial Surrender Charge and MVA Periods

5 years

5 years

5 years

State variations may exist, refer to product disclosure for details.

Other Guarantee Periods Available

Policy Details

$10,000
$5,000
$1,000,000
$1,000,000
85
85
60 days
Yes
Accumulation Value
No

Penalty Free Withdrawal Provisions

None
10%
No
Yes
Death

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Not available in:  NY (as of 12/23/2018)