Our Professional Opinion on the Sagicor Milestone Max MYGA
We recommend the Sagicor Milestone Max MYGA when its guaranteed rate is competitive with other A- or better-rated insurance companies.
Sagicor is a good annuity company. Sagicor is rated A by AM Best and comfortably meets our minimum financial-strength standard.
Milestone Max is available in 3-, 4-, 5-, 6-, and 7-year terms. We like that selection because it gives buyers more control over the maturity date than MYGAs offering only three or five years.
In today’s high-interest-rate environment, the 5-, 6-, or 7-year term can be attractive when the rate is competitive and you do not need the money. The longer rate lock reduces the risk of reinvesting later at lower rates.
The contract provides 10% annual penalty-free withdrawals beginning in year two, favorable RMD access beginning in year one, a full account-value death benefit, and nursing-home and terminal-illness waivers.
Those health-related waivers can provide access to the existing account value, but they are not a substitute for long-term care insurance.
The biggest issue is automatic renewal on the shorter versions. If you take no action when a 3-, 4-, 5-, or 6-year guarantee period ends, the contract can renew at a new rate and restart surrender charges. The 7-year version is cleaner because its surrender schedule does not repeat under the current design.
That makes the 7-year version especially interesting when its rate is competitive and the money can remain untouched. Buyers using a shorter term need to pay close attention to the 30-day penalty-free window.
Bottom line: Milestone Max is a good MYGA from a good company. We like the broad term selection, 10% access after year one, first-year RMD treatment, full account-value death benefit, and health waivers. The rate and renewal structure should determine which term you choose.
Compare Milestone Max with the current fixed annuity rates before selecting a guarantee period.
What We Like
- A-Rated Insurance Company: Sagicor comfortably exceeds our A- minimum.
- 3-, 4-, 5-, 6-, and 7-Year Terms: The broad term menu makes it easier to match the contract to your timeline.
- 10% Annual Access After Year One: Percentage-based penalty-free withdrawals begin in contract year two.
- First-Year RMD Access: Eligible qualified-contract RMDs can be withdrawn beginning in the first contract year.
- Full Account-Value Death Benefit: Beneficiaries receive the remaining contract value.
- Health-Related Waivers: Qualifying nursing-home confinement or terminal illness can provide access to the account value.
- No Front-End or Annual Product Fee: The base contract is straightforward and fee-light.
What We Don’t Like
- No Normal First-Year Percentage Withdrawal: Standard 10% access begins in year two.
- Automatic Renewal on Shorter Terms: The 3-, 4-, 5-, and 6-year versions can restart surrender charges if the maturity window is ignored.
- Market Value Adjustment: Excess withdrawals during a surrender period can be increased or reduced by the MVA.
- Renewal Rate Is Unknown: A renewed contract receives the rate available at that time, not the original rate.
- The Rate Still Has to Be Competitive: A strong insurer and good features do not justify accepting a materially lower guaranteed rate.
Product Overview
The Sagicor Milestone Max MYGA is a multi-year guaranteed annuity designed for conservative savers who want fixed-rate growth, modest liquidity, and a way to bridge savings into retirement income. Available in 3-, 4-, 5-, 6-, and 7-year terms, it features 10% annual penalty-free withdrawals, health-based withdrawal waivers, and a full-value death benefit. Sagicor Life Insurance Company is rated A (Excellent) by AM Best, offering a credible financial foundation. This annuity is best suited for accumulation or rollover goals—not guaranteed lifetime income—because it does not include a GLWB (Guaranteed Lifetime Withdrawal Benefit). However, it does offer annuitization after year one.
Product Type
- Annuity Type: Multi-Year Guaranteed Annuity (MYGA)
- Issuer: Sagicor Life Insurance Company
- AM Best Rating: A (Excellent)
- Primary Use: Tax-deferred accumulation, CD alternative, IRA rollover
- Income Option: Annuitization only (no income rider/GLWB)
Funding Options
- Non-qualified funds
- Qualified funds (IRA, Roth IRA, SEP, 401(k) rollover)
- 1035 exchanges from existing annuities
Minimum premium is not listed in the brochure but typically starts at $10,000–$20,000.
Key Features
| Feature | Description |
| Guarantee Periods | 3, 4, 5, 6, or 7 years |
| Fixed Interest Rate | Locked for the full guarantee period |
| Penalty-Free Withdrawals | 10% annually starting in contract year 2 (or RMDs in year 1 for qualified funds) |
| Health Waivers | Nursing home and terminal illness waivers available after the first year |
| Annuitization Options | Life income, joint life, fixed period, or fixed amount—available after year 1 |
| Full Death Benefit | Account value paid to beneficiaries without penalty |
| No Fees | No upfront or annual contract fees |
| Market Value Adjustment (MVA) | Applies on excess withdrawals during surrender periods (not on death benefit or waiver claims) |
What Happens After the Term Ends?
Sagicor provides a 30-day penalty-free window at the end of your initial term—and again at the start of any new surrender charge period, depending on your term:
- 3-, 4-, 5-, and 6-year terms automatically renew, restarting a new surrender schedule and interest rate.
- 7-year term does not automatically renew.
- In Florida, most terms are limited to one renewal or no renewal.
After the term, you can:
- Withdraw all funds without penalty.
- Annuitize into a regular income stream.
- Transfer to a different annuity or financial vehicle.
- Let it renew automatically (not recommended without review).
Automatic renewal without action restarts surrender charges and may include a lower interest rate. Sagicor does send a renewal notice in advance.
Why Comparing Annuities Matters
Even though Sagicor is A rated and offers fair features, comparing is still essential:
- Some MYGAs include GLWB income riders—Milestone Max does not.
- Others offer built-in 10% liquidity and better death benefit enhancements.
- Some competitors avoid automatic renewals, reducing long-term inflexibility.
- Other A rated MYGAs may offer higher guaranteed rates for the same term.
Only a broker can provide a full-market comparison across dozens of carriers to help you avoid renewal traps, maximize guarantees, and tailor for your income or liquidity goals.
Pros and Cons
| Pros | Cons |
| A rated insurer with credible financial backing | No income rider (GLWB) for guaranteed lifetime withdrawals |
| Full 10% annual withdrawals after year 2 | Surrender charge schedule restarts if renewed |
| Full account value death benefit | MVA applies on excess withdrawals (if rates rise) |
| Terminal illness and nursing home waivers | No enhanced liquidity for other emergencies |
| Clear annuitization options available after year 1 | Only RMDs (not 10%) allowed in year 1 unless non-qualified |
Who Should Consider The Milestone Max MYGA?
Best for:
- Savers nearing or in retirement wanting secure accumulation
- CD/bond alternative seekers wanting tax deferral and liquidity
- Clients who want health-based withdrawal protection
- IRA holders needing RMD flexibility with partial liquidity
Not ideal for:
- Retirees who need flexible income with optional GLWB features
- Investors uncomfortable with automatic renewal surrender risks
- Clients wanting inflation-adjusted income or growth
- Anyone needing more than 10% annual liquidity
Final Verdict
Is the Sagicor Milestone Max MYGA a good annuity? Yes—for fixed growth and conservative accumulation with an A rated insurer, this MYGA is a solid pick. It’s most appealing for short- to mid-term goals with minimal downside risk and real-world health waivers. But the lack of an income rider and the automatic renewal mechanism make it less ideal for those who want long-term flexibility or lifetime income planning.
Talk to The Annuity Expert Before You Commit
Before buying, let us help you:
- Compare Sagicor’s MYGA with other A rated carriers
- Find better renewal options and liquidity protections
- Explore income riders if retirement income is a goal
Contact us now for a free annuity comparison tailored to your retirement objectives.
Book A Free Consultation
Get help from a licensed financial professional. This service is free of charge.
Let Us Answer Your Questions
Not quite ready for a meeting, but you have a question that needs answering? We’re happy to help. Leave an inquiry below, and one of our staff will respond via email.