If you own a multi-year guarantee annuity (MYGA) or are thinking about buying one, this episode could save you from a costly mistake. Discover why annuitizing a MYGA internally is rarely in your best interest—and how a simple MYGA-to-SPIA strategy can unlock the highest contractual guarantees for your retirement income.
In this episode, The Annuity Man discussed:
Definition and purpose of a MYGA (multi-year guarantee annuity)
Why internal annuitization quotes are usually uncompetitive
The MYGA-to-SPIA strategy using a 1035 exchange
Focusing on contractual guarantees over brands and brochures
Using an independent quoting process across all carriers
Key Takeaways:
A MYGA is best used as a principal protection tool with a guaranteed interest rate, not as a product you annuitize internally for lifetime income.
Internal annuitization quotes from MYGA and other deferred annuity carriers are typically uncompetitive compared to independently quoted single premium immediate annuities.
A MYGA-to-SPIA approach—using a 1035 exchange to move from a matured MYGA into the highest paying immediate annuity—can help secure superior lifetime income guarantees.
The smartest annuity decisions are made by focusing on contractual guarantees instead of company names, product labels, or glossy marketing materials.
Relying on a broad, apples-to-apples quote across highly rated carriers helps avoid lazy or biased recommendations that may cost you long-term income.
"With annuities, you're buying it for the contractual guarantees. Period." — Stan The Annuity Man
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