What is the minimum guaranteed surrender value for Knighthead Life – Staysail?

The Staysail annuity contract allows for the selection of a Guaranteed Option Period (GOP) of 3, 5, or 7 years, during which a fixed interest rate is guaranteed. At the end of the selected term, funds automatically convert to a 1-year guarantee period with no withdrawal charges or MVA applied. The contract includes withdrawal options, terminal illness and extended care waivers, systematic withdrawals, and annuitization options after the first year. The product is designed for individual ownership but also allows for joint ownership in non-qualified plans, with provisions for death benefits and minimum account requirements.

What is the minimum premium amount for Knighthead Life – Staysail?

The minimum premium amount is $10,000.

What is the maximum issue age for Knighthead Life – Staysail?

The maximum issue age is 85 years.

What is the current interest rate for Knighthead Life – Staysail?

The current interest rate is 5.55%.

What is the surrender charge schedule for Knighthead Life – Staysail?

The surrender charge schedule is fixed and decreases annually depending on the selected GOP. For a 3-Year GOP, charges are 8.50% in year 1, 8.00% in year 2, and 7.00% in year 3. For a 5-Year GOP, charges reduce from 8.50% to 5.00% across five years. For a 7-Year GOP, charges reduce from 8.50% in the first year to 3.00% in the seventh year. These charges apply to early withdrawals that exceed the free withdrawal limit or do not qualify under any waiver. An additional Market Value Adjustment may increase or reduce the withdrawal amount depending on interest rate conditions at the time of withdrawal.

What are the best rates available for Knighthead Life – Staysail?

The best available rate is 6.70% for a 7 year term.

Knighthead Life

Knighthead Life – Staysail

About this product

Staysail is a multi-year guaranteed annuity (MYGA) issued by Merit Life Insurance Co., designed to provide stable, predictable growth over a set period of 3, 5, or 7 years. The product credits simple interest daily, which is guaranteed for the entire term selected. Staysail is suitable for clients looking for fixed returns, preservation of capital, and structured retirement planning. Additional benefits and waivers are available, depending on the selected options and state availability.

Available Rates

Rates are based on current simulation settings with premium amount $100,000.00

3 Years	5.80%
5 Years	6.45%
7 Years	6.70%

Available Guarantee Periods

Rates are based on current simulation settings with premium amount $100,000.00

$10,000.00 - $99,999.00	5.55%
$100,000.00 - $2,000,000.00	5.8%

Features
Maximum Issue Age	85 years

Lifetime Income Details

Payout Options

Annuitization

Lump Sum Withdrawal

Additional Options

Actual payout options may vary by insurance carrier and specific products. Common alternatives include:

Life Income Only: Payments for the rest of your life, stopping upon death
Period Certain: Guaranteed payments for a specific time period (5, 10, 15, or 20 years)
Life with Period Certain: Lifetime payments with a minimum guaranteed period
Joint Life: Payments continue for both you and your spouse's lifetimes
Systematic Withdrawal: Regular withdrawals of a specified amount or percentage