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Withdrawals exceeding the 10% annual free amount—or full surrender during the guarantee period—may trigger surrender charges and a Market Value Adjustment. All charges are waived during the 1-year no-penalty renewal period after each term.

None. No annual maintenance fees or administrative charges apply.

If the owner dies prior to annuitization, the beneficiary receives the full Accumulation Value without surrender charge or MVA. After annuitization, any remaining payments follow the chosen settlement option.

 Waives surrender charges and MVA after the first contract anniversary if the owner or joint owner is confined to a qualified nursing home or hospital for 90 consecutive days (up to $250,000).

 Waives surrender charges and MVA for qualifying terminal illness with life expectancy of 12 months or less (up to $250,000).

(Availability based on California approval.)

This version includes the Liquidity Rider.

• Up to 10% of the Accumulation Value may be withdrawn annually without surrender charges or MVA

• Based on Accumulation Value as of the prior contract anniversary

• Multiple withdrawals permitted within the annual 10% cap

• Minimum remaining account value: $2,000

• Systematic withdrawals allowed monthly, quarterly, semiannually, or annually ($100 minimum)

The inclusion of the rider means this version pays slightly lower guaranteed rates than the no-liquidity California version.

Joint ownership is permitted for spouses who must also be joint annuitants. Non-natural ownership (e.g., trusts) is allowed.

Staysail MYGA is a Single Premium Deferred Annuity (SPDA) providing guaranteed simple-interest crediting for the entire duration of the selected guarantee period. The owner pays a single premium and selects a 3-, 5-, or 7-year term, during which interest accrues tax-deferred.  This California version includes the Liquidity Rider, allowing up to 10% of the Accumulation Value to be withdrawn each year without surrender charges or MVA. Withdrawals above the 10% allotment may incur surrender charges and a Market Value Adjustment (MVA). Required Minimum Distributions (RMDs) are always available without penalty.  At the end of the guarantee period, the policy automatically enters a no-penalty 1-year guarantee period where all surrender charges and MVA are waived. After the renewal period, the owner may elect renewal, surrender, or annuitization.

At the end of each 3-, 5-, or 7-year guarantee period, the policy enters a 1-year renewal period without surrender charges or MVA. During this time, the owner may:

• Surrender the contract without penalty

• Transfer the value to another annuity product

If no action is taken after the renewal period ends, the contract must be annuitized or surrendered.

The surrender value equals the Accumulation Value minus any applicable surrender charges and MVA but will never be less than the Standard Nonforfeiture minimum required by law.

Staysail™ MYGA with Liquidity Rider (California Only) 

is a single-premium Multi-Year Guaranteed Annuity (MYGA) issued by Merit Life Insurance Co., offering fixed, tax-deferred interest growth and full principal protection across 3-, 5-, and 7-year guarantee periods. This California-specific version includes a Liquidity Rider that provides up to 10% annual penalty-free withdrawals, delivering enhanced flexibility while still maintaining California-approved guaranteed interest rates. Designed for conservative savers who value both stable accumulation and accessible funds, this product provides predictable growth without market exposure.

Withdrawals exceeding the allowable amount (RMD only), or a full surrender during the guarantee period, may be subject to surrender charges and a Market Value Adjustment. All surrender charges and MVA are waived during the 1-year post-term renewal window.

None (the Liquidity Rider is excluded in this version)

None. No annual policy charges or contract maintenance fees.

Before annuitization, beneficiaries receive the full Accumulation Value with no surrender charge or MVA. After annuitization, remaining payments follow the elected settlement option.

 Waives surrender charges and MVA if the owner or joint owner is confined to a qualified nursing home or hospital for at least 90 consecutive days after the first contract anniversary (up to $250,000).

 Waives surrender charges and MVA for a diagnosis indicating life expectancy of 12 months or less (up to $250,000).

(Availability depends on California state approval.)

This California version does not include a free-withdrawal feature.

This version provides California’s highest available Staysail rates due to the absence of free-withdrawal liquidity.

 funds. Accepted funding sources include:

Joint ownership is allowed for spouses who must also be joint annuitants. Non-natural ownership, such as trusts, is also permitted.

Staysail MYGA is a Single Premium Deferred Annuity (SPDA) that credits a guaranteed simple-interest rate for the full duration of the selected guarantee period. The owner pays a single premium and chooses a 3-, 5-, or 7-year term during which interest grows tax-deferred. This California-specific version does not include the Liquidity Rider, meaning it does not offer an annual 10% free-withdrawal allowance. Required Minimum Distributions (RMDs) remain exempt from surrender charges and MVA.  Withdrawals beyond RMDs may incur surrender charges and a Market Value Adjustment (MVA). At the end of the guarantee period, the contract automatically enters a no-penalty 1-year guarantee period where surrender charges and MVA are waived. After that period, the owner may renew into a new term, annuitize, or surrender the contract without penalty.

At the end of the 3-, 5-, or 7-year term, the contract automatically enters a 1-year renewal period with no surrender charges or MVA. During this period, the owner may:

• Renew the contract into a new guarantee period

• Apply the value to an available settlement option

• Transition to another annuity product

If no action is taken after the renewal period, the contract must be annuitized or surrendered under contract terms.

The surrender value equals the Accumulation Value minus applicable surrender charges and MVA, but not less than the Standard Nonforfeiture minimum value required by law.

California-only version of the Staysail™ MYGA (No Liquidity Rider) 

provides guaranteed simple-interest accumulation, strong client protections, and some of the most competitive MYGA rates available for California residents. This version does not include the 10% liquidity rider, allowing the contract to offer California-specific higher rates while maintaining full principal protection and tax-deferred growth over 3-, 5-, and 7-year guarantee periods.

Withdrawals exceeding the 10% annual free-withdrawal allowance, or full surrender during the guarantee period, may be subject to surrender charges and an MVA. All funds become fully penalty-free at the end of the guarantee period or during the 1-year renewal window.

None. The contract has no policy fees, annual charges, or administrative maintenance costs.

If the owner dies before annuitization, beneficiaries receive the full Accumulation Value in a lump sum without surrender charges or MVA. Once annuitized, continued payments follow the selected settlement option.

 Waives surrender charges and MVA after the first contract anniversary if the owner or joint owner is confined to a qualified nursing home or hospital for at least 90 consecutive days (up to $250,000).

Waives surrender charges and MVA for qualifying diagnosis with life expectancy of 12 months or less (up to $250,000).

This version includes the Liquidity Rider, which provides enhanced access.

• Up to 10% of the Accumulation Value per year penalty-free

• Multiple withdrawals allowed within the 10% total

• Minimum remaining Accumulation Value: $2,000

• Systematic withdrawals permitted (monthly, quarterly, semiannual, annual; $100 minimum)

Because free withdrawals are allowed, this version earns a slightly reduced guaranteed rate compared to the no-liquidity design.

Joint ownership is permitted for spouses who must also be joint annuitants. Non-natural ownership is allowed (e.g., trusts).

Staysail MYGA is a Single Premium Deferred Annuity (SPDA) that credits a fixed simple-interest rate for the entire duration of the selected guarantee period. The owner makes a single premium payment and selects a 3-, 5-, or 7-year term, during which interest accrues tax-deferred and the crediting rate remains fully guaranteed for the entire term.  This version includes the Liquidity Rider, allowing annual penalty-free withdrawals of up to 10% of the Accumulation Value. Withdrawals above this limit may be subject to surrender charges and a Market Value Adjustment (MVA). Required Minimum Distributions (RMDs) are always available without penalty, regardless of rider inclusion.  At the end of each guarantee period, the contract automatically transitions into a 1-year guarantee period during which no surrender charges or MVA apply, giving the owner flexibility to renew, annuitize, or surrender the policy.

At the end of each guarantee period, the contract automatically enters a 1-year renewal period with no surrender charges or MVA. During this time, the owner may:

• Renew the contract for a new guarantee period

• Apply the value to a settlement option

• Transition the value to another available annuity contract

If no action is taken after the 1-year period, the contract must be surrendered or annuitized according to contract provisions.

The surrender value equals the contract’s Accumulation Value minus any applicable surrender charges and Market Value Adjustment, but not less than the minimum nonforfeiture amount required under Standard Nonforfeiture Law.

 Rider is a single-premium Multi-Year Guaranteed Annuity (MYGA) issued by Merit Life Insurance Co. offering fixed, tax-deferred interest growth and full principal protection across 3-, 5-, and 7-year guarantee periods. This version includes an optional Liquidity Rider that provides penalty-free access to up to 10% of the Accumulation Value each year, offering enhanced flexibility while still maintaining strong guaranteed rates and predictable performance. Designed for conservative savers who value both stability and accessible funds, Staysail supports secure, low-volatility accumulation with contractually guaranteed interest.

Withdrawals exceeding the allowable amount (RMD only) or full surrender during the guarantee period may be subject to both surrender charges and a Market Value Adjustment (MVA). All funds become fully penalty-free at the end of the guarantee period or during the 1-year no-charge renewal period.

None (Liquidity Rider not included in this version)

None. No annual maintenance, administrative, or policy fees of any kind.

If the owner dies before annuitization, beneficiaries receive the full Accumulation Value in a lump sum, unaffected by surrender charges or MVA. Once the contract is annuitized, any remaining payments follow the selected payout option.

Waives surrender charges and MVA if the owner or joint owner is confined to a qualified nursing home or hospital for at least 90 consecutive days after the first contract anniversary (maximum $250,000).

 Waives surrender charges and MVA upon diagnosis of a terminal illness with life expectancy of 12 months or less (maximum $250,000).

This version does not include a free-withdrawal feature.

• Minimum account value after withdrawal: $2,000

Because no liquidity rider is elected, this version offers the highest interest rates among all Staysail options.

• Pension or Profit-Sharing plan rollovers

Joint ownership is allowed only for spouses, and both must be joint annuitants. Non-natural ownership (e.g., trusts) is permitted.

Staysail MYGA is a Single Premium Deferred Annuity (SPDA) that credits a fixed simple-interest rate for the entire duration of the selected guarantee period. The owner makes a one-time premium payment and selects a 3-, 5-, or 7-year term, during which interest grows tax-deferred and the rate remains fully guaranteed. This version does not include a liquidity rider, so it does not offer an annual penalty-free withdrawal allowance; however, Required Minimum Distributions (RMDs) are always free of surrender charges or MVA.  Withdrawals exceeding RMDs may be subject to surrender charges and a Market Value Adjustment (MVA). At the end of each guarantee period, the contract automatically transitions into a 1-year guarantee period with no surrender charges or MVA, after which the owner may renew, surrender, or annuitize the contract value.

At the end of each 3-, 5-, or 7-year guarantee period, the Staysail MYGA automatically enters a 1-year renewal period with no surrender charges or MVA. During this period, the owner may:

• Renew the contract value into a new guarantee period

If no election is made at the end of the 1-year period, the contract must be annuitized or surrendered.

The surrender value equals the account value minus any applicable surrender charges and MVA, but not less than the minimum nonforfeiture benefit required by Standard Nonforfeiture Law. Nonforfeiture values accumulate at the minimum guaranteed rate specified in the contract.

 is a single-premium Multi-Year Guaranteed Annuity (MYGA) issued by Merit Life Insurance Co. that provides fixed, tax-deferred interest growth and full principal protection across 3-, 5-, and 7-year guarantee periods. This version delivers the highest available guaranteed rates because it does not include a free-withdrawal feature, making it ideal for conservative savers who prioritize maximum accumulation and long-term stability over liquidity. With straightforward mechanics, strong contractual guarantees, and optional health-based waivers, the Staysail MYGA supports secure, predictable retirement planning insulated from market volatility.

Knighthead Life – Staysail™ MYGA (Liquidity Rider – California Only)

Knighthead Life – Staysail™ MYGA (No Liquidity Rider – California Only)

Knighthead Life – Staysail™ MYGA (Liquidity Rider)

MassMutual Ascend – American Freedom Stars & Stripes 7 (Non-MVA)