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Withdrawals above the free allowance or full surrender before the end of the term are subject to declining surrender charges

 – Surrender charges (and any MVA) are waived for qualifying confinement (terms/eligibility per contract). 

Critical Care / Terminal Illness Waiver –

 Surrender charges (and any MVA) are waived for qualifying diagnoses as defined by the policy. 

None. No ongoing policy or maintenance fees. Costs apply only if withdrawals exceed the free allowance during the surrender period (then a surrender charge and Market Value Adjustment (MVA) may apply).

On the owner’s death, beneficiaries receive the accumulation value of the contract; no surrender charges or MVAapply to the death claim. This ensures the full account value passes without withdrawal penalties.

Access to funds may be penalty-free in certain events, including Nursing Home and Critical Care/Terminal Illnesscircumstances (as defined in the contract). These waivers help protect against unexpected health events. 

Beginning in year 1, the owner may withdraw up to 10% of the initial premium (or, in later years, 10% of the prior year’s accumulation value) without surrender charges; excess amounts may incur surrender charges and MVA. This design provides baseline liquidity while preserving long-term compounding. 

 funds. Single-premium only (funded at issue; no subsequent contributions). Minimum premium $50,000; typical maximum $2,000,000 ($1,000,000 in NY without prior approval). 

Issued by USAA Life Insurance Company (and by USAA Life Insurance Company of New York in NY), the Protected Deferred Annuity provides a fixed interest rate for the selected guarantee period. It is available for both qualified and non-qualified funds and funded through a single premium. Withdrawals exceeding the free allowance may be subject to surrender charges and a Market Value Adjustment (MVA).

At the end of the term, the contract automatically renews for one year at USAA’s then-current renewal rate unless withdrawn or annuitized during the 30-day penalty-free window.

At the end of the selected 3-, 4-, 5-, or 10-year guarantee period, the contract typically transitions to a renewal rate (or a new guarantee period, where available). Owners have a penalty-free window to withdraw, annuitize, or renew without surrender charge or MVA.

single-premium Multi-Year Guaranteed Annuity (MYGA)

 designed for clients seeking tax-deferred growth, fixed accumulation, and guaranteed principal protection. It locks in a guaranteed interest rate for 

providing predictable performance backed by USAA Life Insurance Company’s financial strength. The annuity allows limited annual penalty-free withdrawals and includes waiver features for qualifying life events, offering a balance of growth and flexibility.

USAA Life – Protected Deferred Annuity (3-, 4-, 5-, and 10-year terms)