Rock Island, Ill. (8/16/21) – Royal Neighbors of America, Rock Island, Illinois, announced the launch of a new annuity product designed to protect the futures of certificate owners.
The new Multi-Year Guaranteed Deferred Annuity (MYGA) product allows for one lump-sum premium. It will earn tax-deferred interest until maturity, which provides guaranteed growth. Royal Neighbors’ MYGA offers two guaranteed interest rate periods, each of the same length – 3, 5, or 10 years. After the second guaranteed interest rate period, the MYGA will not credit interest below the minimum guaranteed interest rate.
Juliet Christenson, Director Product Strategy and Development, led the product development project. “One of the things I love about my job is that we have the opportunity to design unique products with value-adds that give our Certificate Owners a sense of safety and security when it comes to planning their futures,” she said. “With guaranteed interest rates, owners will be accumulating retirement savings with the comfort in knowing their nest egg will always grow.”
“Our success hinges upon the success of our agents, so it is crucial that we enable our agents with products that are designed to meet the changing needs of their clients,” stated Curt Zeck, Chief Growth Officer at Royal Neighbors. “Through comprehensive research, and a carefully crafted product design plan, we are proud to have launched an easy-to-understand annuity product with a value-added rider that will fit the needs of the market,” he said.
For no additional premium, the MYGA product offers an exclusive Member Emergency Access Rider – giving the Owner access to funds when they need it most.
About Royal Neighbors of America
Royal Neighbors of America is a unique provider of life insurance and annuities whose mission is to protect women financially and empower them to improve their lives, families, and communities. Royal Neighbors was founded in 1895 as a membership organization by nine pioneering women who recognized the need to insure the lives of women and children. In 2020, Royal Neighbors was upgraded to “A Excellent” (3rd highest out of 13) by the AM Best Company for overall financial strength and ability to meet ongoing obligations to certificate holders. For more information about Royal Neighbors of America, visit royalneighbors.org.
Marie Young, Manager, Communications
Marie.Young@royalneighbors.org | (309) 732-8280