If you would like to increase your portfolio of services, as an Agent or Adviser, you can offer Multi-Year Guaranteed Annuities (MYGA), which compete very well with CDs and Money Markets. Many MYGAs beat the interest rates that CDs and Money Market provide and interest that MYGAs earn is tax-deferred. There are many customers that would be very interested to know about these short-term instruments.
Brokers Alliance has a grid showing the top MYGAs, first year interest, subsequent year interest rates, AM Best ratings and commissions.
Most MYGAs at the end of their terms, have a 30-day window in which the customer decides whether to sign for another term, or to completely cash out.
If you are an Agent or Adviser and if you have interest in possibly offering MYGAs, please send an email to Mark at Brokers Alliance with a brief bio.
Mark D. Graham: mark@brokersalliance.com
