Can I Convert a MYGA Into a Lifetime Income?
Retire For Less With The Annuity Expert by Shawn Plummer
Episode notes
Are you thinking about converting your MYGA (Multi-Year Guaranteed Annuity) into a lifetime income stream? Before you officially annuitize your contract, you need to hear this! ππΈ
In this video, Shawn Plummer from The Annuity Expert explains how you can convert a MYGA into income, but why you probably shouldn't! Annuitizing a contract is an irrevocable decision that forces you to permanently surrender your lump sum to the insurance company. Because most MYGAs do not offer income riders, Shawn reveals a vastly superior strategy: rolling your expiring MYGA into a Fixed Index Annuity (FIA) with a Guaranteed Lifetime Withdrawal Benefit (GLWB)!
This strategy allows you to secure a permanent, guaranteed paycheck while keeping total control of your money, earning interest, and preserving a death benefit for your family. Plus, Shawn explainΒ ...Β