Harbourview Fixed Annuity Series

Multi-Year Guaranteed
Annuity (MYGA)

A Single Premium
Fixed Annuity Contract

Product & Feature Availability
May Vary By State
View Available States

Advantages of a Fixed Annuity?

  • Principal Protection
  • Guaranteed Interest Rates
  • Tax Deferred Earning Flexible Annuitization & Settlement Options
  • Death Benefits For Beneficiaries
Advantages of a MYGA?

Contract Features of the Harbourview Fixed Annuities

  • Premium Requirements
    Minimum $20,000
  • Issue Age
    0 through 89 (non-qualified and qualified assets)
  • Multi-Year Guaranteed Period Options
    2, 3, 4, 5, 6, 7 and 10 Years
  • Withdrawals
    10% of Contract Value on or after first year of Contract anniversary without Surrender Change penalty.
    Minimum Withdrawal Amount = $250
  • Death Benefit
    Account Value (No MVA or Surrender Charges) or Spousal continuation option
  • 20 Day Free Look period to cancel your contract
    You may cancel the contract by sending it back to the issuing company. Upon cancellation, the company will return the purchase payment to you. Some states allow for 30 days Free Look.
  • Surrender Charges
    A surrender charge applies to all withdrawals over 10% during contract term and reduces your contract value.
  • Market Value Adjustment (MVA)
    The MVA is a positive or negative adjustment based on the current interest rate environment at the time of withdrawal. An MVA and a surrender charge will apply if you access more than the 10% free withdrawal before the end of the initial interest rate guarantee period. The MVA does not apply to withdrawals after the surrender charge period, 10% free withdrawals, the death benefit, or when the contract is annuitized.

    *Please see your contract for additional details. Rider and calculations may vary by state.

30 Days Prior to the end of the Contract’s Interest Rate Guaranteed Period, the Agent and Policy Holder will be alerted to the following options:

Surrender Contract (not subject to surrender charges or MVA). If client does not make an election, the Contract renews for the same Guarantee Surrender Charge Period at the declared new money rate (never less than 1%).

Apply for a new Contract Guarantee Period of choice with the declared new money rate with a corresponding new Surrender Charge Period.

Take a partial withdrawal (not subject to surrender charges or MVA), and renew the remaining value to the same Guarantee Period or apply to another Guarantee Period.

1035 Exchange Full or Partial account value

Apply Contract to Settlement/ Annuitization Options*:

  • Life Only
  • 10 Year Period Certain
  • Joint and Last Survivor

*Once annuity payments have begun, no changes can be made.

All of the deferred annuities issued by Oceanview Life and Annuity®️ Company provide for a death benefit payable upon the death of the owner. Please refer to the contract pages that describe the common features on how the death benefit is determined. When the owner dies, the beneficiary becomes the new owner. If the sole beneficiary is the deceased owner’s surviving spouse, the surviving spouse may elect to continue the annuity as his/ her own.

If the beneficiary is not the surviving spouse or if there are multiple primary beneficiaries, the entire contract must be distributed:

  • Within five (5) years of the owner’s death, or over the life expectancy of the beneficiary. These distributions must begin within one year of the owner’s death.
  • If the owner of a non- qualified annuity is a natural person and is not the annuitant, we do not pay a death benefit when the annuitant dies. Instead, the owner is required to name a new annuitant within 60 days of the annuitant’s death. If a new annuitant is not named, the owner becomes the annuitant. Once a new annuitant is named, the annuitant cannot be changed while the annuitant is still living.
  • Joint ownership of a deferred annuity contract is discouraged. However, we will allow joint owners ONLY if the joint owners are married to one another; non- spousal joint ownership is not permitted.
  • Children should NOT be included in the primary beneficiary designation; otherwise the surviving spouse will not be able to continue the contract. Children should be listed only as contingent beneficiaries.

*For most states, Harbourview Fixed Annuities Policy Form: ICC19OLASPDA. Product features, options, form numbers and availability may vary by state.This is a brief description of the Harbourview Fixed Annuities and is meant for informational purposes only. It is not individualized to address any specific investment objective. It is not intended as investment or financial advice.

Product availability may vary by distribution channel.

Who’s right for a Fixed Annuity?


  • Whose risk tolerance is shifting towards risk avoidance
  • Wants protection from market volatility
  • Anticipates limited liquidity needs
  • Seeking tax advantages
  • Considering guaranteed retirement income options
Who's right for a fixed annuity?