THE TRUTH ABOUT EQUITY INDEX ANNUITIES
Fixed Annuities are further classified in sub-categories: MYGA (Multi-year Guaranteed Annuity), sometimes incorrectly called a “CD Annuity.” In a MYGA, the issuing company states at the outset, a specific interest rate for a specific term (e.g., 3% for 5 years). As such, they seem to mimic bank CDs but there are fundamental differences. ................
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