The Oceanview Life and Annuity Harbourview 2 (CA) is a 2-year multi-year guaranteed annuity (MYGAA savings-style annuity that promises one interest rate for a fixed number of years.Full definition →) paying 5.05% a year if held to the end of its term (yield to surrenderWhat you actually earn per year if you hold the annuity to the end of its surrender window.Full definition →), backed by Oceanview Life and Annuity (A AM Best). The minimum premium is $70,000, with 10% free withdrawal per year. Your principal is protected from market swings and growth is tax-deferred until withdrawal.
| Carrier | Oceanview Life and Annuity A AM Best |
| Product type | Multi-year guaranteed annuity (MYGA) |
| Guaranteed term | 2 years |
| Yield to surrenderWhat you actually earn per year if you hold the annuity to the end of its surrender window.Full definition → | 5.05% |
| Minimum premium | $70,000 |
| Maximum premium | $1,000,000 |
| Free withdrawalThe slice of your annuity you can take out each year with no exit fee.Full definition → | 10% per year (year 1: 0%) |
| Market value adjustmentA rate-driven bonus or haircut on big early withdrawals from an MVA annuity.Full definition → | No |
| Maximum issue age | 89 |
| Tax treatment | Tax-deferred growth |
Rates shown are not offers. Confirm the current number with the carrier before purchasing. Guarantees rely on the issuing insurer's claims-paying ability. Not FDIC insured. Availability varies by state, and rates change often, which is why every table carries its update date.
Want a second opinion on the Harbourview 2 (CA)? A licensed advisor can line it up against other carriers, at no cost.
Find my advisorWithdrawing more than the free amount during the guarantee period costs a percentage of the amount withdrawn. It steps down each year (our guide to how surrender periods work explains the lock-up and the MVA in full):
| Year | 1 | 2 |
|---|---|---|
| Charge | 8% | 8% |
The Harbourview 2 (CA) is filed and available in 1 states as of the last feed update. Availability is confirmed during the application.
California
| Year | Rate | Interest | Balance |
|---|---|---|---|
| Year 1 | 5.05% | $5,050 | $105,050 |
| Year 2 | 5.05% | $5,305 | $110,355 |
| Total | $10,355 | $110,355 |
Compound-annually projection on the guaranteed rate for the full term. An estimate, not a quote. It assumes no withdrawals and does not model taxes. Rates are compiled from a licensed carrier rate feed and public sources and are examples, not offers.
| What works | The honest downsides |
|---|---|
| Savers who can leave money alone for 2 years | Anyone who may need the funds before the term ends |
| People who want a CD-style guarantee at a higher rate | People wanting market upside |
| Anyone tired of watching a balance swing | Savers who need FDIC insurance specifically |
| Non-qualified money seeking tax deferral | Those under 59.5 planning to withdraw soon |
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