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So if you're not familiar with MYGAs, let me go through it quickly. Multi-year guarantee annuity, that's what MYGA stands for. It's the annuity industry's version of a CD. It's very simple; there are no moving parts, there are no market attachments, and you're going to get a guaranteed interest rate for a specific period that you choose.

So, annuity companies, how do they make money? There's a reason that annuity companies have significant buildings and that they do very, very well. Why? It's because they know when we're going to die. Property and casualty companies, however, don't know when the hurricane's going to hit. They don't know when the tornado's going to hit.

Do you know what makes a Deferred Income Annuity different? Let us guide you through what you should know, so you don’t let confusion get in the way of your retirement plans.

You may want to buy a MYGA if you're looking to protect your principal, not pay any fees annually, there are no moving parts, there are no market attachments, you're just going to get an interest rate contractually for the specific period that you choose.