Basic knowledge
Multi Year Guaranteed Annuity - Abbreviation
MYGA
Multi Year Guaranteed Annuity is an insurance contract where the annuity company offers clients _________.
contractually a guaranteed rate of return every year on a fixed rate
it's the "best time" to get a MYGA
when the bond markets are high
Fixed Index Annuity abbreviation
FIA
With a MYGA, the client is guaranteed a rate of _______, every year on a fixed _____, at a fixed _____.
What is return, term, rate ?
The client will move a fixed amount of money from their _________ and ________ are examples. Name at least 2.
their 401k, High Yield Savings, CDs, Money Market, Short Term Bonds or Low Yield Savings
There are three types of annuities, however we WILL NOT be selling _________.
Variable Annuities
3 to 10 year, but the most common is a 5 year, 7 year and 10 year.
terms offered by the company
Interest grows ________ deferred.
tax
2 annuity products that we will be selling are ______ and _____.
MYGA and FIA
the bond market ie. 10 year treasury
what MYGAs tied to
A MYGA has nothing to do with the _________market and everything to do with the _______ market.
Stock, bond
In a high bond rate environment, ________ looks attractive to the client.
MYGA
A client can grow their money on a _______ term and tax _______ .
fixed, deferred
MYGA's have 100% protection from
market loss