What Is A Modified Guaranteed Annuities?

  1. 0 POINTS
    Contact Me
    David RacichPRO
    Fountain Hills, Arizona
    A modified guaranteed annuity (MGA) is a deferred annuity that guarantees principal and a rate of interest credited to deposits for a fixed time period, some up to up ten years. Any early withdrawals from or surrender of an MGA before the expiration period will more than likely be subject to a market value adjustment, a possible withdrawal charge and exposure to ordinary income taxes. These types of annuities are hold positions and should not be purchased if liquidity is a high priority of the saver.
     
    Answered on May 29, 2013
    +1
    1 Thumb up 0
    +1 this answer
    flag this answer
    2. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>