Annuity or CD: when your client's CD matures

A MYGA is a fixed deferred annuity with a stated guarantee period. Compare its dates, yield to surrender and renewal terms with the certificate of deposit (CD).

1. 1.

   Replace the bracket with the bank's rate. Paste the case and send it.

   Copy

   Using Annuities Genius: my client, 66, in North Carolina, has $150,000 from a CD that just matured. It is non-qualified money, outside any retirement account. His bank offers [CD rate] on a 5-year CD. I'm an independent agent. Show me the 3 best 5-year MYGA rates from carriers rated A- or better that independent agents can sell, next to that CD. Flag any fee-based (Advisory) product. Label which numbers come from Annuities Genius and which are the bank's. Tell me who stands behind each side, what he gives up if he needs the money early, when the interest is taxed, and when keeping the CD is the better choice. I decide.

   Select the text and copy it.

2. 2.

   Check each number is labeled: Annuities Genius, the bank's, or the AI's own math.

   Annuities Genius has no bank data. The bank's rate is the one you typed.

3. 3.

   Check each product's sales channel and the carriers you are appointed with (contracted to sell for).

   Some top rates sell only through banks or broker-dealers. Your AI should drop them and say why.

4. 4.

   Check who backs each side on the official sites.

   Insured bank: federal deposit insurance. Annuity: its insurer.