Anyone have a MYGA from Protective Life?
I was able to get an application submitted last week on the final day of a 5.40% rate being available on the 7-year MYGA, but saw some things earlier today that give me pause about their Customer Service, how easy (or not) it is to get funds at the end of the contract, etc.
They appear pretty strong financially (A+ from AM Best, good scores from many of the other rating agencies), so I'm comfortable with them being around. But they are also foreign-owned (Japan's 2nd largest carrier owns them) which is another consideration.
My "Plan B" for the funds is a new-money Certificate with NASA FCU @ 4.75% APY, but that's 3/4 of a percent less yield and I'd lose the ability to defer taxable income to later years, like I'd have on the MYGA.
FWIW, we own 6 or so other MYGAs - but all from more well-known carriers (all A+ or A++).
Would appreciate any/all feedback on these guys.
I was able to get an application submitted last week on the final day of a 5.40% rate being available on the 7-year MYGA, but saw some things earlier today that give me pause about their Customer Service, how easy (or not) it is to get funds at the end of the contract, etc.
They appear pretty strong financially (A+ from AM Best, good scores from many of the other rating agencies), so I'm comfortable with them being around. But they are also foreign-owned (Japan's 2nd largest carrier owns them) which is another consideration.
My "Plan B" for the funds is a new-money Certificate with NASA FCU @ 4.75% APY, but that's 3/4 of a percent less yield and I'd lose the ability to defer taxable income to later years, like I'd have on the MYGA.
FWIW, we own 6 or so other MYGAs - but all from more well-known carriers (all A+ or A++).
Would appreciate any/all feedback on these guys.
Statistics: Posted by RetireBy55 — Tue Jan 30, 2024 4:16 pm — Replies 3 — Views 308