Company Information
Company Name
Axonic Insurance
Product Name
Axonic Waypoint 5 MYGA
Description
The Axonic Waypoint 5 MYGA is a single-premium annuity with a five-year rate guarantee. After five years, owners have a 30-day window to withdraw, transfer, or exchange their full account value. If no action is taken, a new guarantee period begins with a new declared interest rate.
Two rate bands are offered with the highest rate credited to deposits above $100K. Lower rates are available for amounts between $25K – $99.9K. Qualified and non-qualified funds are accepted. There are 10% free withdrawals beginning in year 2 and no surrender penalties are charged at death.
AM Best Rating
A- Excellent (4th of 13 ratings)
Company Website
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rates
| 5.80% | $100,000 | — | $1,000,000 |
| 5.40% | $20,000 | — | $99,999 |
Term
5 Years
Minimum Investment
$100,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
89
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 0%
What We Like About This Annuity
Competitive 5 year policy from an A- rated carrier. Rates with Axonic are often near the top nationally. Free 10% contract liquidity begins in year two. There are no surrender charges at passing.
Notable Features
The policy offers terminal illness and nursing home surrender charge waivers at no charge. Joint ownership available for spouses of the insured. Policies available up to age 89.
Other Popular Products
Axonic specializes in guaranteed fixed annuities of 2-10 year terms. There newest offering is a fixed-indexed annuity called the Trailhead FIA. They offer their annuity policies in the US and abroad.
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About Axonic Insurance Services
Founded in 2022, Axonic Insurance Services is a new annuity carrier with a strong AM Best rating. They specialize in multi-year guaranteed annuities offered in the US and abroad. They offer indexed annuity account options as well.
Axonic uses different distribution partners to offer a wide array of guaranteed fixed annuities. Banks, broker-dealers, registered investment advisors, and independent agents affiliated with the LIBRA Insurance Partners Network or on their own have access to different and unique fixed annuity contracts.
The company’s stated mission is to offer high-quality annuities and investments based on strong fundamentals and expertise. They serve both individual and institutional investors.