Delaware Life recently introduced Pinnacle MYGA, a multiyear guaranteed fixed annuity. The single-premium deferred annuity offers guaranteed periods of three, five, seven or 10 years.
Pinnacle MYGA will be distributed by a select group of independent financial marketing organizations in 47 states, according to a company statement. Minimum premiums are set at $10,000 (nonqualified) and $5,000 (qualified).
David Sams, Delaware Life president, said in a statement that the product is targeted for “retirement-oriented investors.”