MYGA and Cap Rates Increase Effective 04/04/2024
S&P 500® Index Cap and 3-year MYGA rates increase
S&P 500® Annual Point-to-Point Index Cap rates increase on the following fixed index annuities:
- NAC VersaChoiceSM 10 (+125 basis points)
- NAC Control. XSM (+100 basis points)
- North American Charter® Plus 10 and 14 (+75 basis points)
- Performance Choice® 8 (+50 basis points)
3-year rates increase on NAC Guarantee Plus®
Multi-year guarantee annuity (MYGA)
| Surrender charge period1 | New high band | Was | New low band | Was |
|---|---|---|---|---|
| 3-Year | 4.90% | 4.75% | 4.45% | 4.30% |
| 5-Year | 5.20% | – | 4.95% | – |
| 7-Year | 5.00% | – | 4.70% | – |
High band: $100,000 or more. Low band: Less than $100,000.
7-year rates not available in California and Florida. Rates are subject to change at any time.
NEW BUSINESS GUIDELINES
- The Index Cap rate changes apply to applications received or submitted through Annuity e-Biz on or after April 4.
- The MYGA changes apply to applications signed or submitted through Annuity e-Biz on or after April 4.