CurrentRate® MYGA: A Flexible Approach to 5-Year MYGA Interest Crediting

Oceanview CurrentRate MYGA offers the familiar protection and simplicity of a multi-year guaranteed annuity, with an interest-crediting approach designed to stay more connected to current interest rate conditions over time with annual rate updates after the first contract year based on a formula defined in the contract.

For many retirement savers, the appeal of a multi-year guaranteed annuity is easy to understand. MYGAs are designed to provide principal protection, tax-deferred growth and clear contract terms — features that can be especially important for clients who want a portion of their retirement assets positioned for stability.

But today’s interest rate environment has also created a question that many financial professionals are hearing more often:

What if a client locks into one declared rate today and interest rates change later?

That question does not necessarily mean clients are looking for more complexity or market exposure. Many still value the core benefits of a fixed annuity. They simply may be hesitant to commit to one declared rate for an entire multi-year period.

Oceanview CurrentRate® MYGA was designed for clients seeking a fixed annuity with an interest-crediting methodology that may reflect changes in interest rate conditions over time.

CurrentRate MYGA is a 5-year Multi-Year Guaranteed Annuity that provides the familiar foundation of a fixed annuity — principal protection, tax-deferred growth and straightforward contract features — with an interest-crediting approach that may adjust annually after the first contract year based on defined rules. Guarantees are backed by the financial strength and claims-paying ability of Oceanview Life and Annuity Company.

A different approach within the MYGA category

Many traditional MYGAs credit one declared interest rate for the full guarantee period. For some clients, that structure is exactly what they want: a rate that is known upfront and does not change during the selected period.

CurrentRate MYGA takes a different approach.

In the first contract year, the contract earns a declared interest rate set at issue. That rate is guaranteed for the first contract year. After the first year, the credited interest rate is reviewed and updated once per year using a transparent, rules-based formula defined in the contract.

The formula includes two components: a market-based component tied to the 1-Year U.S. Treasury Rate, plus a guaranteed spread that remains fixed during the 5-year guarantee period.

In simple terms, the structure is designed around this idea:

Year one: a declared interest rate set at issue.
Years two through five: annual rate updates based on the 1-Year U.S. Treasury Rate plus a guaranteed spread.

The market-based component may move up or down as rate conditions change. The guaranteed spread remains fixed during the guarantee period. The combined credited rate will never be less than the guaranteed minimum interest rate stated in the contract.

Designed for clarity, not complexity

One of the features of CurrentRate MYGA is that clients do not need to track interest rates or make annual crediting decisions themselves. Oceanview applies the methodology automatically according to the contract provisions.

That distinction matters.

CurrentRate MYGA is not designed to ask clients or financial professionals to predict where rates are headed. Instead, it provides a defined process for how credited rates are determined after the first contract year.

For financial professionals, that can create a more balanced conversation with clients who are interested in fixed annuity protection but uncomfortable with the idea of locking into one long-term declared rate. Rather than positioning rate movement as a promise, CurrentRate frames it as a rules-based process.

Rates are not guaranteed to increase. Future credited rates may be higher or lower than rates credited in prior contract years. But the methodology is defined in advance, and the product remains within the MYGA category.

What stays protected

Although CurrentRate MYGA uses an annual rate update process after year one, the product remains a fixed annuity. It is not a stock market product, and the contract value is not directly exposed to stock market fluctuations.

CurrentRate MYGA is designed to provide:

Principal protection from market loss, subject to contract terms; tax-deferred growth until funds are withdrawn; a 5-year guarantee period; a guaranteed minimum interest rate stated in the contract; and straightforward renewal and withdrawal provisions.

This combination may appeal to clients who want protection and simplicity, but who also want an interest-crediting approach designed to remain more connected to current rate conditions over time based on a formula defined in the contract.

Access and renewal features

CurrentRate MYGA is designed as a long-term retirement solution, not a short-term savings vehicle or emergency fund. However, it includes features that may provide flexibility.

After the first contract year, clients may withdraw up to 10% of their contract value each year without surrender charges or Market Value Adjustment. Free withdrawals are not available during the first contract year, and unused free withdrawal amounts do not carry over from year to year.

At the end of the 5-year guarantee period, the contract includes a 30-day window prior to the end of the period. During that window, the client may withdraw the contract value with no surrender charges or Market Value Adjustment, continue into a new 5-year guarantee period, apply the contract to a settlement option, or continue into another guarantee period that may be available at renewal.

If no action is taken, the contract automatically renews into a new 5-year guarantee period. A new declared interest rate applies for the first year of the new period, annual rate updates resume thereafter using the CurrentRate methodology, and a new surrender charge schedule begins with the renewed guarantee period.

Renewal rates and product features available at renewal are not guaranteed and may differ from those available when the contract was originally issued.

Who may want to consider CurrentRate MYGA?

CurrentRate MYGA may be appropriate for individuals who want principal protection with predictable MYGA features, prefer a transparent and rules-based approach to interest crediting, are concerned about committing to a single long-term declared rate, are comfortable with credited rates that may change annually within a fixed annuity structure, and value clarity and consistency in retirement planning.

It may not be the right fit for every client.

A traditional MYGA may be more appropriate for someone who strongly prefers one declared interest rate guaranteed for the full guarantee period, or who is uncomfortable with any year-to-year rate movement. CurrentRate MYGA should be positioned as a different MYGA approach — not as a replacement for every traditional MYGA conversation.

For the right client, however, CurrentRate MYGA can help financial professionals discuss an alternative MYGA approach: how to pursue protection and tax-deferred growth without relying on one declared rate for the full 5-year period.

A different kind of transparency

In retirement planning, understanding how a product works can be an important consideration.

It can also mean knowing the rules.

With CurrentRate MYGA, clients know how the first-year rate is set. They know how rates are determined after year one. They know the guaranteed spread remains fixed during the 5-year guarantee period. They know the credited rate will never be less than the guaranteed minimum interest rate stated in the contract. And they know their principal is protected from market loss, subject to contract terms and the claims-paying ability of Oceanview Life and Annuity Company.

That combination of protection, transparency and annual rate updates is what makes CurrentRate MYGA a different kind of MYGA conversation.

For clients who want the protection and simplicity of a MYGA, but prefer an interest-crediting approach designed to provide annual rate updates based on a formula defined in the contract, CurrentRate MYGA may be worth a closer look.

Clients should consult with their financial professional to determine whether CurrentRate MYGA is appropriate for their financial goals, time horizon, liquidity needs, and overall financial situation.

Financial professionals can contact Oceanview Life and Annuity Company to learn more about CurrentRate MYGA and how it may fit within appropriate client conversations.

Guarantees are based on the financial strength and claims-paying ability of the issuing insurance company. Oceanview CurrentRate MYGA is issued by Oceanview Life and

Annuity Company. May not be available in all states. Not available in New York or Vermont. Policy form numbers and provisions may vary.

Annuities issued by Oceanview Life and Annuity Company, 1331 17th Street, Suite 1050, Denver, CO 80202. In California, doing business as Oceanview Life and Annuity Insurance Company www.oceanviewlife.com.

A.M. Best Rating as of February, 11, 2026, is subject to change. A (Excellent) rating is third highest of fifteen possible rating classes for financial strength. The outlook assigned to these Credit Ratings is stable.

Annuities are long-term retirement solutions and are generally not intended to replace emergency funds, serve as income for day-to-day expenses, or support short-term savings goals. Contracts purchased in an IRA or other tax-qualified plan provide no additional tax-deferral benefit, since they are already afforded tax-deferred status. Withdrawals may be subject to ordinary income tax and, if taken before age 59½, may be subject to an IRS penalty.

Credited interest rates may change annually after the first contract year and are not guaranteed to increase. Withdrawals in excess of any free partial withdrawal amounts may be subject to surrender charges and Market Value Adjustment, where applicable.

Oceanview Life and Annuity Company and its representatives do not provide tax or legal advice. Clients should consult their own qualified tax or legal advisors.

This material is a general description intended for general public, educational use. Oceanview Life and Annuity Company is not providing investment advice for any individual or in any individual situation, and therefore nothing in this correspondence should be read as such.

OCEANVIEW ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY THE FDIC OR NCUA/NCUSIF OR ANY OTHER FEDERAL GOVERNMENTAL AGENCY. MAY LOSE VALUE. NO BANK/CREDIT UNION GUARANTEE. NOT A DEPOSIT. MAY ONLY BE OFFERED BY A LICENSED INSURANCE AGENT. GUARANTEES ARE SUBJECT TO THE CLAIMS-PAYING ABILITY OF THE ISSUING INSURANCE COMPANY.