Why it earned this rating
Our assessment
Milestone MYGA 6-Year clears the bar for a clean, no-MVA MYGA with a genuinely strong 90.80%-of-premium minimum guaranteed surrender value. What keeps it out of the top tier is disclosure: the CA-specific product guide dated 12/1/2025 doesn't print a current rate table at all, and the only rate figure available in the brochure packet is flagged by Sagicor's own materials as tied to a different, likely-outdated policy form.
The short version
This is a 6-year fixed-rate annuity sold only in California, built around two structural strengths: it carries no market value adjustment, so the surrender schedule is the entire early-exit cost with no additional interest-rate-driven penalty, and its minimum guaranteed surrender value of 90.80% of premium is high for the MYGA category. In exchange, you get a fairly ordinary surrender schedule that stays elevated through the middle contract years, no optional living-benefit riders, and — as of the current CA guide — no printed current rate table, meaning you will need to request a live quote to know what you are actually locking in. It is a defensible choice for a conservative California saver who wants principal certainty over six years, but the lack of a published rate is a real friction point for comparison shopping.
The full review
Is Sagicor Milestone MYGA 6-Year a Good Annuity?
Yes, with a caveat. As a structure, it is a sound MYGA: no MVA, a strong guaranteed floor, no base contract fees, and a reasonable 10%-per-year free withdrawal once you are past the first contract year. The caveat is that you cannot evaluate the one number that matters most — the current credited rate — from the materials in front of you. Sagicor's own CA product guide (dated 12/1/2025) does not print a rate table; it points producers to a separate "Current Crediting Strategies/Rates" document (Form 4062). The rate figure available in the brochure packet (4.65%–5.20% depending on deposit band) is explicitly tied to an older, different policy form per Sagicor's own state-approval materials, so it should not be treated as this contract's current rate. Get a live quote before comparing this to anything else.
Why Someone Would Buy This Annuity
Someone would buy this because they want a guaranteed rate locked for six years with zero exposure to market value adjustment risk — if they need to exit during the surrender period, the published surrender percentage is the entire cost, full stop. The 90.80%-of-premium MGSV means even in a worst-case early-surrender scenario, principal erosion is capped tightly. It is also accessible at a $15,000 minimum, lower than many MYGAs in this category, and it comes from a carrier holding an A- rating from A.M. Best. For a California resident who has already decided they want a MYGA and values the no-MVA structure specifically, this is a reasonable fit.
Who This Annuity Is Best For
This is best for a California-resident, conservative saver — likely near or in retirement — who wants a six-year rate lock without market-value-adjustment risk and does not need an income rider, chronic-illness waiver, or index exposure. It suits someone rolling money out of a maturing CD or a prior annuity who values simplicity and a strong guaranteed floor over yield-chasing. It is a weaker fit for anyone who wants to compare current rates across carriers before committing, since the operative product guide does not disclose one, and it is not available to residents of any other state — Sagicor sells a related but structurally different product, Milestone Max MYGA, everywhere except California.
What You're Really Buying Here
Strip away the brand name and this is a straightforward promise: Sagicor Life Insurance Company credits one fixed interest rate to your account value every year for six years, guaranteed not to drop, with no participation rate, cap, or index tracking of any kind. There is no rider to evaluate and no benefit base to model — the accumulation value is the whole story. What makes it distinct from a typical MYGA is the surrender-charge mechanics: no market value adjustment means your early-exit cost is exactly the schedule printed in the contract, never more, never less, regardless of what interest rates do while you are locked in. And the minimum guaranteed surrender value — 90.80% of premium, credited at the nonforfeiture rate plus 1% for the first ten years — sets a floor well above what most MYGAs guarantee, which matters primarily in a scenario where you surrender early or the carrier's crediting practices turn unusually conservative.
How the Core Feature Works
The core feature is the single declared fixed rate, guaranteed for the full six-year term once your contract issues. Sagicor's current CA product guide (dated 12/1/2025) does not print this rate — it directs the producer to a separate current-rates document (Form 4062) that updates independently of the consumer brochure. A Wink product-profile snapshot dated 11/4/2025 in the same document set shows a banded structure — 4.65% for deposits from $15,000, 5.00% from $50,000, and 5.20% from $100,000, each guaranteed for six years — but Sagicor's own state-approval matrix ties that snapshot to a different policy form (ICC173008) that is not the one currently approved for sale in California under this product name (Form 3008CA). Treat those percentages as directional at best, not confirmed. Whatever your actual issue rate is, it locks for the full six years; at the end of the term, a new declared rate applies for whatever comes next.
Why the Secondary Feature Matters
The secondary feature that matters here is the absence of a market value adjustment. Many MYGA surrender schedules are compounded by an MVA, which can increase your early-exit cost if interest rates have risen since you bought the contract, or reduce it if rates have fallen. This product has neither effect — the surrender percentage printed in the schedule is the complete cost of leaving early, in either direction. That predictability is worth something to a buyer who wants to know their worst case in dollar terms on day one, rather than a number that moves with the bond market. It is also worth noting this is the opposite structure from Sagicor's own Milestone Max MYGA 6-Year, the version sold in every other state, which does carry an MVA.
Liquidity and Surrender Schedule
The surrender schedule runs from 8.4% in year one down to 4.25% in year six, and it does not decline as quickly as some MYGAs in the middle years — 8.35% is still due in year two, and 7.35% in year three, before the drop accelerates. Free withdrawals of 10% of the prior anniversary's account value are available starting in contract year two (not year one), with a $500 minimum withdrawal, so anyone needing access in the first twelve months has none. A one-time 30-day penalty-free window opens at the end of the six-year surrender period, letting you withdraw fully or surrender with no charge; if you take no action in that window, the contract automatically rolls into a new six-year guarantee period at a newly declared rate, and the surrender schedule resets. Withdrawals before age 59½ can also trigger the standard 10% IRS early-withdrawal penalty on top of any contract-level charge — that is a tax-code issue, not specific to this product, but worth flagging.
Fees and Tradeoffs
There are no front-end charges and no annual contract fee on the base contract. Since there is no income rider or optional living benefit, there is no rider fee to weigh either — the entire cost structure lives in the surrender schedule and the spread between what Sagicor credits you and what it earns on the underlying portfolio, which is not disclosed. The real tradeoff is not a fee, it is disclosure: you are accepting a contract without being able to see the operative current rate in the consumer-facing materials, and you are accepting a product without a chronic-illness or terminal-illness withdrawal waiver, a feature the same carrier's Milestone Max sibling does include. If either of those matters to you, ask your agent for the current rate sheet before you sign anything, and compare against what Milestone Max offers if you happen to live in one of the states where it is sold instead.
| Contract Year | Surrender Charge |
|---|---|
| 1 | 8.4% |
| 2 | 8.35% |
| 3 | 7.35% |
| 4 | 6.3% |
| 5 | 5.3% |
| 6 | 4.25% |
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Fixed Annuity |
| Surrender Period | 6 years |
| Issue Ages | 15 days to 90 years (age last birthday; applies to Owner and Annuitant) |
| Minimum Premium | $15,000 |
| Crediting Methods | Fixed |
| Free Withdrawal | 10% of the prior contract anniversary's accumulation value per year, penalty-free, beginning in contract year 2 (minimum withdrawal $500). Separately, at the end of the initial 6-year surrender charge period, a one-time 30-day penalty-free window opens at contract anniversary year 6 (the single subsequent surrender charge period for a 6-year guarantee) during which principal and credited interest may be withdrawn in full or the contract surrendered with no surrender charge (this product carries no MVA at any time); if no action is taken during the window, the contract automatically renews into a new 6-year guarantee period at a new declared rate, subject again to the surrender charge schedule. |
| MGSV | 90.80% of premium paid, accumulated at the nonforfeiture rate plus 1.00% in contract years 1-10, followed by the greater of (the nonforfeiture rate less 1.50%) and 1.00% in year 11 and thereafter, adjusted by withdrawals. |
| Death Benefit | Equal to the accumulation account value of the annuity, with no surrender charge or MVA applied; paid to the beneficiary(ies) as a lump sum or an available annuitization/payout option. |
| Income Rider | Not available |
| Premium Bonus | None |
| Availability | This base 'Milestone MYGA' product line is currently approved ONLY in California - confirmed by two independent sources: Sagicor's own 'State Product Approvals as of July 15, 2025' matrix (which shows the 'Milestone MYGA' column as N/A in every state except California, while a separate, similar-but-distinct 'Milestone Max MYGA' product is approved in all other states instead), and the Wink per-product listing for this same product, whose state-approval field also flags only a 'CA variation' as approved. It is issued under CA-specific Contract Form 3008CA (product guide/client guide dated 12/1/2025), and the surrender charges (8.40/8.35/7.35/6.30/5.30/4.25%) and MGSV (90.80% of premium) in this spec come from those CA-specific documents. A separate, non-CA-labeled Wink product-profile PDF in the same folder (data as of 11/4/2025) lists a different policy form (ICC173008), a different surrender schedule (9/8/7/6/5/4%), a different MGSV (87.5% of premium), and states MVA applies - that appears to be a stale/legacy national filing snapshot that is no longer part of the current (7/15/2025) state-approval footprint for 'Milestone MYGA,' so it was NOT used for the contractual numbers in this spec. Do not confuse this base product with the sibling 'Milestone Max MYGA' folder, which is the product actually sold outside California. |
Carrier snapshot
Legal Entity: Sagicor Life Insurance Company
A.M. Best Rating: A-
Final take
Milestone MYGA 6-Year does two things well: it removes market-value-adjustment risk entirely, and it backs that with a minimum guaranteed surrender value meaningfully higher than the MYGA norm. Both are genuine, structural reasons to like this product if you are a California resident who has already decided a six-year fixed-rate annuity fits your plan. What holds it back from a stronger rating is that the current guide does not tell you the rate — you have to go get a quote to know what you are actually buying, and the one number in the brochure packet is explicitly flagged as tied to an older policy form. If you want a no-MVA MYGA and are willing to call for a live rate before committing, this is a reasonable option. If you want to compare rates across carriers from the printed materials alone, or you want a chronic-illness liquidity feature, look elsewhere — including, if you live outside California, at Sagicor's own Milestone Max MYGA 6-Year, which trades the no-MVA structure for a lower MGSV and adds that living-benefit waiver.