Ibexis Life MYGA Plus 7
Current Fixed Rates
| 5.10% | $100,000 | — | $1,500,000 |
| 4.84% | $10,000 | — | $99,999 |
The Ibexis Life MYGA Plus 7 is a single premium, simple interest fixed annuity with a seven-year rate lock. After seven years, owners have a 30-day window to withdraw, transfer, or reinvest their full account value. If no action is taken, a new seven-year term begins with a new surrender schedule.
This is not a compounding annuity. The rates above reflect the compounding equivalent rate. The simple interest rate is higher and equates to 5.95% and 5.60% respectively for the two rate bands. (Simple interest annuity rates work best when the interest gains are withdrawn at least annually.)
The highest rate applies to deposits over $100,000; a lower rate applies to deposits between $10,000 and $99,999. Additionally, owners can allocate up to 50% of their funds to an index-linked S&P 500 account if desired. If the S&P 500 increases by any amount, the full indexing capped rate is credited to the contract for that year.
Note: Rates in California are approximately .10% lower. The maximum issue age in Florida is 64.
More Annuity options from: Ibexis Life
Notable Features
Simple interest policy with S&P 500 indexing option. Contract also includes terminal illness, long term care, and annuitization waivers at no cost. Systematic withdrawals available in year two.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
7 Years
Free Withdrawals Yr1 / Yr2+
0% / 10%
Surrender Schedule
7.75%, 7.50%, 7.25%, 7%, 6%, 5%, 4%, 0%
Maximum Age
80
Minimum Investment
$100,000
Maximum Investment
$1,500,000 without prior approval
What We Like About This Annuity
One of only a few policies offering simple interest. Works great for those who withdraw interest gains on a regular basis and don’t want a compounding annuity. The policy also offers an indexing option linked to the S&P 500 for additional growth opportunities.
Other Popular Products
Ibexis Life is best known for their innovative fixed annuities, but also offers fixed-indexed annuities with strong upside potential. Their FIA Plus and WealthDefender accounts are suitable for those wanting more market exposure.
About Ibexis Life
Ibexis Life
AM Best Rating: A- Excellent (4th of 13 ratings)
https://ibexis.com/
About Ibexis Life & Annuity Insurance Company
This technology-driven insurance company specializes in fixed and fixed-indexed annuity policies. Originally founded as Ibeixs in 1937 and located in Washington State, they have since been acquired, rebranded, and redomiciled in Lincoln, Nebraska. They boast an A- rating with AM Best.
Their asset manager is Investcorp – a consortium that manages over $50 billion in assets. The company’s mission is to help consumers stabilize their assets while providing for a more comfortable and predictable retirement.