Oxford Life Multi-Select 9 Year
Current Fixed Rate
5.25%
The Oxford Life Multi-Select 9 is a single-premium, fixed annuity with a 9-year rate guarantee. After nine years, owners have a 30-day window to withdraw, transfer, or renew their account balance. If no action is taken during the 30-day window at maturity, a new guarantee period automatically begins. It will be the same length with new surrender charges and a new declared rate.
Deposits of $20K or more qualify for the highest rate with Oxford Life. Free accumulated interest withdrawals are allowed in year one, and 10% annual withdrawals are included in year two going forward.
There are no surrender penalties at death. Qualified and non-qualified funds are accepted, and a Market Value Adjustment is included in the contract. Traditional IRAs, Inherited IRAs, Roth, SEPs, and Spousal IRAs are all accepted.
More Annuity options from: Oxford Life
Notable Features
An optional Guaranteed Lifetime Withdrawal Benefit (GLWB) is available for an additional cost of 0.50% of the accumulation value. At no cost, this policy includes Nursing Home, Home Healthcare, Terminal Illness, ADL (Activities of Daily Living), and Annuitization penalty-free withdrawal riders. Please see the brochure for more information on the specifics of these riders and waivers.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
9 Years
Free Withdrawals Yr1 / Yr2+
Int / 10%
Surrender Schedule
10%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 0%
Maximum Age
85
Minimum Investment
$20,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
There are only low minimums to start this policy, and it’s offered by an A rated carrier. This policy allows for great liquidity, including penalty-free interest withdrawals in year 1 and 10% free withdrawals of the accumulated value in years 2-9. There are several surrender charge waivers automatically included for hardship provisions. Rate can be locked in for a longer term with a fair surrender schedule.
Other Popular Products
While primarily a fixed annuity company, Oxford Life also offers several single-premium final expense burial life insurance policies. Their fixed-indexed and bonus annuities are also popular with consumers looking for higher growth opportunities.
About Oxford Life
Oxford Life
AM Best Rating: A Excellent (3rd of 13 ratings)
https://oxfordlife.com/
About Oxford Life Insurance Company
Founded in 1965, Oxford Life is a highly-rated insurance company specializing in life insurance and fixed annuity policies. They carry a desirable A rating (Excellent) with AM Best.
Their publicly traded parent company is U-Haul Holding Company. U-Haul Holding is also the parent company of RepWest Insurance, Christian Fidelity, and North American Insurance.
These diverse holdings allow for several product offerings, including single-premium life insurance plans. This helps strengthen the overall balance sheet of all companies. Oxford’s stated purpose is to provide financially secure policies and services for those in, or planning for, a dignified & stable retirement.