Auto-Owners Life Insurance Company just raised the interest rate on their Item 501 Deferred Annuities to 3.25%. The Item 501 Annuity product includes a six year interest rate lock on “new money” going into the policy. Non-qualified money going is does not have any contribution limitations like the older Item 300 or 301 annuities. So you can now get a 3.25% interest rate lock on as much non-qualified cash you as like.
The Item 501 can also be set up as a Traditional IRA or a Roth IRA, where contributions may be tax deductible. IRS contribution rules and limits would apply to these products unlike the Non-qualified options.