In times like this, a strong financial institution is the most important thing. Last week I shared with you the Midland National balance sheet to show how well-capitalized insurance companies are and why that strength gives you the safety everyone envies right now. One thing I left out is that Midland is a privately held company. There is no earnings pressure or dividend payments to maintain so when times get rough, profits can be reinvested back into the company to smooth things out.
Midland recently reinvested profits in a fixed annuity line that now gives you the opportunity to get top-of-the-market rates from an A+ company. It’s not for everyone but the opportunity is good nonetheless, because for the past few years, the best fixed annuities were issued by B rated insurance companies. Boy, am I glad I never sold those after Colorado Banker’s Life went bust last year because of fraud.
For a limited time you can get guaranteed rates of 2.25% for three years and up to 3.5% for seven years. In today’s market that’s an exceptional guarantee at a time when the ten year treasury is till trading well below 1%.
The three year rate is just a touch lower than another offered by a company I’ve never heard of, and the seven year rate is higher than any other ten year contract on the market. If you’d like to take advantage then give me a call.
As a disclaimer I need to mention that quoted rates apply to all premiums of $100K or more and in each contract, interest earnings annually are available for free withdrawal. It’s just like a bond but the rates are higher and it’s a whole lot safer. Also, the 7-year contract is not available in Delaware, Florida or California.
Call any time.