Show a fixed-rate annuity (MYGA) year by year

A MYGA is a fixed-rate annuity with one rate for a set term. Ask for it year by year, with withdrawals.

1. 1.

   Paste this case and send it. In ChatGPT Work, type @ and pick Annuities Genius first.

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   Using Annuities Genius: I'm an independent agent paid by commission. Show my client the best 10-year MYGA from a carrier rated A- or better, with 10% free withdrawals. She is a 65-year-old woman in Texas with $100,000 of non-qualified money (not in an IRA). She takes $5,000 a year from year 2 to year 6. These are gross withdrawals. For this nonqualified contract, do not estimate taxable amounts without basis and contract history. Note that pre-annuitization withdrawals are generally gain first. Have her tax professional confirm. Show me the total she takes out and her surrender value each year. Then show what is left at the end of year 10. I decide.

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2. 2.

   Add up the withdrawal column. It must match your request.

   Example: 5 years at $5,000 is $25,000. Some tables show $0 withdrawals without saying so.

3. 3.

   Read surrender value next to account value. The gap is that year's surrender charge.

   A market value adjustment (MVA) can move the cash-out value. The table may leave it out: check the product details.