Ibexis Life MYGA Plus 3
More rates from Ibexis Life
The Ibexis Life MYGA Plus 3 is a single premium, simple interest fixed annuity with a three-year rate lock. After three years, owners have a 30-day window to withdraw, transfer, or reinvest their full account value. If no action is taken, a new three-year term begins with a new surrender schedule. This is not a compounding annuity. The rates below reflect the compounding equivalent rate. The simple interest rate is higher and equals 5.10% and 4.80% 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 (Simple interest annuity rates work best when the interest gains are withdrawn at least annually.)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.AM Best Rating
A- Excellent (4th of 13 ratings)
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Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
Rates
| 4.86% | $100,000 | — | $1,500,000 |
| 4.59% | $10,000 | — | $99,999 |
Term
3 Years
Minimum Investment
$100,000
Maximum Investment
$1,500,000 without prior approval
Maximum Age
85
Surrender Schedule
7.75%, 7.50%, 7.25%, 0%
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.
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.
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.
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Ibexis Life
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.