What Decisions Do You Have When Your MYGA Matures?

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Welcome to Q&A Friday. I am your host,

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Stan the Annuity Man, America's annuity

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agent, licensed in all 50 states,

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including the one you're sitting in.

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Today's topic is, what are your choices

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when your MA multi-year guarantee

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annuity matures? Let's go backwards a

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little bit. MAS are the annuity industry

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version of a CD, guaranteed interest

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rate for a specific period of time.

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Sound familiar? Yeah, because it's like

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a CD. If you go to the annuityman.com,

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you can pull up your state, the

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duration, and see the best migrant

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rates. At the top, you'll see guaranteed

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interest rate. Guaranteed, as they say

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in in Louisiana. But what happens at the

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end of the maturity? So, let's just say

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you bought a 5-year MGA. You've held it

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for five for the five years. Interest

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has compounded tax deferred if even if

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it's in a nonirra account. If it's an

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IRA account, it's auto automatically tax

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deferred. But what happens? First of

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all, it's your money. Nod your head.

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It's not our money. It's your money. So,

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we're going to use our ears and our

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mouth and proportion. Two to one. We're

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going to listen to you. What do you want

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to do? You can cash it in and send it.

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If it's nonirra, we'll just have the

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company send you a check. If it's IRA,

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could go go to an IRA. Non-T taxable

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event transfer. Or you could say, you

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know what, Stan, I really enjoyed that

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MA trip that we took for five years.

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Let's do it again. We can transfer that

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MA IRA or nonIRRA non-T taxable event to

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another MA. Okay? And so you could do

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that or you could say, you know what,

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Stan, I really like that MA trip that

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that guaranteed interest rate

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compounding. Fantastic. I loved it. But

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my life has changed, Stan the annuity,

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man. I need a lifetime income stream. We

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can transfer that MA to an immediate

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annuity or deferred income annuity if

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it's in an IRA. you know, we could we

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could do all kinds of things. Transfer

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it to an income writer. So, in other

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words, when you get to the finish line,

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okay, you you have numerous decisions.

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The last one is, and this doesn't happen

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a lot, but it happens occasionally, is

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let's just say you're with ABC Insurance

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Company. I don't use names because

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they're not writing me checks. I mean,

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I'm not going to promote them, okay? But

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we represent all carriers. So, you've

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got this annuity company. You like the

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the the MA that you have. Actually, we

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had one the other day and the guy said,

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"I just want to stay with that company.

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I like that company." Okay, great. Then

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then there's a renewal rate that that

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company is going to offer you to stay.

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Weirdly enough, that's typically not the

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highest one out there, but in this case,

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this guy didn't care. He liked the

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company, and you can renew it. So, you

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can cash it in, get the money, and or

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you could or you could surrender it and

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transfer it back to the IRA if it's IRA

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money. You can transfer it to another

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MA. Okay? You can transfer it to another

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annuity product. All of those are non-t

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taxable events. And at the very end,

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that last choice is you can keep it with

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the same company and renew the policy.

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We will be in touch with you 90, 60

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days, 30 days. And then if we don't hear

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from you, it's like, "Break the glass.

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Break the glass." We'll FedEx something

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to say, "Hey, hey, wake up. Wake up out

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there. We will be in touch to make sure

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that you're going to make the decision

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in time." How about that? Well said,

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Stan. Thank you, Stan. My name is Stan

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the annuity man.