Hmmmm, age 37....
That's kind of young to be putting your money into a boring savings instrument like an annuity. Fixed Indexed Annuities are
BORING and annuities are a
safe place to put your money
after you've made your money.
When it becomes foolish to keep paying income tax on your bank CD interest that you are not even spending and/or you've finally grown tired of losing/risking your money in the stock market and perhaps are looking for safe guaranteed lifetime income or to pass the asset to your heirs free of Probate Court and EXEMPT from creditors (Florida) then it's time talk about an annuity.
The problem with the MasterDex 10 for a 37 year old is the fact
that contract
DOES NOT have a surrender charge schedule like most policies. The cash surrender value equals 87.5% of your premium @ 1.5%. That contract would be much more suitable for a 65 year old who wants to start taking income at age 70.
See illustration below:
You can't just take your money out after 10 years (age 47) and do something different
if you wanted to....you as the contract owner/annuitant have to take your payout over a ten year period to get the full annuitization value.
This is called a two-tiered annuity.
That's not necessarily a bad thing....but it is something you should understand.