ManhattanLife offer annuity contracts in all 50 states and Puerto Rico. Their contracts are offered, underwritten, and issued by either Manhattan Life Insurance Company or Western United Life Assurance Company. They are administered by their Annuity Operations Office in Spokane, Washington.
ManhattanLife offers two different types of annuities, including:
The majority of the annuities offered by ManhattanLife are offered by Western United Life Assurance Company. Read more about those here.
ManhattanLife has an AM Best Rating of B+ and BBB Rating of A+.
ManhattanLife's MYGAs – Preferred Choice and Premium Preferred – are available in the following states: AK, AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NH, NJ, NM, NV, OH, OK, OR, PA, PR, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV, and WY.
Preferred Choice is an individual, deferred, single premium, multi-year guarantee annuity (MYGA). You have a choice of interest rate guarantee periods ranging from 3 to 7 years.
Minimum Single Premium
Issue Ages
Annuitant’s actual age on the contract date (date issued)
Penalty-Free Partial Surrender Amount
Beginning the first year, you can partially surrender the accumulated interest or RMD on Preferred Choice 3, or up to 15% of the annuity value per calendar year of your Preferred Choice 5, 6, or 7 without fees or charges.
Death Benefits
If the Annuitant dies before payments have begun under a Settlement Option, surrender charges are waived. If the Annuitant and Owner are not the same person, and the Owner dies while the Annuitant is still alive, surrender charges are not waived.
If the Annuitant/Owner dies, and the sole Beneficiary is the Annuitant/Owner’s surviving spouse (civil union or domestic partner if required by law), that person may continue the contract as if they were the original Owner.
If your annuity contract is paid out before the end of the surrender charge period, the payout may be less than the initial single premium paid due to the surrender charges.
Premium Preferred is an individual, deferred, single premium, multi-year guarantee annuity (MYGA). You have a choice of interest rate guarantee periods of 5 or 7 years.
Minimum Single Premium
Issue Ages
Annuitant’s actual age on the contract date (date issued)
Penalty-Free Partial Surrender Amount
Beginning the first year, you can partially surrender up to 15% of the annuity value per calendar year of your Premium Preferred plan without fees or charges.
Guaranteed Return of Premium
Your Premium Preferred annuity guarantees the return of your initial single premium. The surrender value will never be less than the initial single premium you paid minus any partial surrenders you've taken.
Death Benefits
If the Annuitant dies before payments have begun under a Settlement Option, surrender charges are waived. If the Annuitant and Owner are not the same person, and the Owner dies while the Annuitant is still alive, surrender charges are not waived.
If the Annuitant/Owner dies, and the sole Beneficiary is the Annuitant/Owner’s surviving spouse (civil union or domestic partner if required by law), that person may continue the contract as if they were the original Owner.
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