MYG Assure 3 (NY) review

Yes, for the right buyer — specifically a New York resident working with a JP Morgan Chase advisor who wants a clean 3-year locked rate. The underlying product terms are solid: no MVA, free withdrawals from year one, and a useful waiver package. If you are not in New York or not a JP Morgan Chase client, the question is moot. If you are, this is a reasonable short-duration fixed option from a strong carrier.

The rational reason to buy this product is a short-term rate lock with principal protection. A 3-year MYGA like this one makes sense for someone who does not want stock market exposure, wants a better-than-CD rate, and is comfortable leaving funds untouched for three years — with the understanding that up to 10% per year is accessible without penalty. The RMD accommodation is a practical benefit for IRA holders who need to satisfy required distributions without triggering surrender charges.

I think this product fits someone in their late 50s to mid-70s who holds qualified or non-qualified funds at JP Morgan Chase and wants to move a portion into a safe, short-duration vehicle. It works well for conservative savers who want certainty over a 3-year window without the complexity of riders or indexed strategies. It is less suited for anyone who might need more than 10% of the account in a given year, anyone not banking with JP Morgan Chase, or anyone outside New York.

You are buying a contract with a single, clear promise: your principal earns a guaranteed interest rate for three years and is not exposed to market losses. The Multi-Year Fixed Strategy locks that rate for the full term. At the end of the term, funds move to a 1-Year Fixed Strategy with a redetermined rate that will be at least 1.00% — that floor is the long-term guarantee, not the initial term rate. The product has no index-linked components, no participation rates, and no caps to worry about. It is a straightforward interest-bearing insurance contract.

The Multi-Year Fixed Strategy guarantees a fixed interest rate for the full 3-year term period. Rate banding applies: as of the April 2026 Wink data, contracts below $100,000 earn 4.40% and contracts of $100,000 or more earn 4.65%. These rates are set at contract issue and do not change during the term. When the term ends, the contract automatically transitions to a 1-Year Fixed Strategy, where the credited rate is redetermined annually. That renewal rate is guaranteed never to fall below 1.00%, but there is no guarantee it will approach the initial term rate. Policyholders should plan to reassess at the 3-year mark and either renew, annuitize, or surrender.

The confinement waiver and terminal illness waiver are the secondary features worth noting. If you are confined to a qualified care facility for 60 or more consecutive days after the first contract year, you can withdraw the full accumulated value without surrender charges. The same applies if you are diagnosed with a terminal illness expected to result in death within one year, again after the first contract anniversary. These are not long-term care insurance — they do not pay ongoing benefits — but they do provide a meaningful safety valve for two of the most common reasons someone might need early access to an annuity during a 3-year term. Neither waiver costs extra.

You can withdraw up to 10% of accumulated value (measured as of the most recent contract anniversary) each contract year beginning in year one without surrender charges. RMDs attributable to this contract are included in that free-withdrawal amount even if they exceed 10%, which makes this product workable inside an IRA. Beyond the free-withdrawal amount, surrender charges apply.

There is no market value adjustment on this product, which is a real advantage. With an MVA, your effective penalty could be larger or smaller depending on where interest rates are when you surrender. Here, the penalty is exactly what the schedule says — no surprises from rate movements.

There are no base contract fees and no rider fees on this product. The only cost is the surrender charge if you withdraw more than the free-withdrawal amount during the 3-year term. The tradeoffs are structural rather than fee-driven. The initial locked rate resets at renewal, so you are taking some reinvestment risk at the 3-year mark. The product is only accessible through JP Morgan Chase in New York, so comparison shopping is harder than with broadly distributed MYGA alternatives. And because this is a pure fixed product, there is no upside participation if rates or markets move favorably during your term.

Legal Entity: Athene Annuity & Life Assurance Company of New York

Parent: Athene Holding Ltd.

A.M. Best Rating: A+

Athene is a large annuity carrier with a strong A+ A.M. Best rating. The New York entity is a separate legal entity from the national Athene operation, which is standard for carriers selling in New York — the state requires its own licensed entity. Athene as a whole has a substantial fixed annuity book and is well-capitalized, which matters for a product whose primary promise is carrier solvency over the term.