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Aspida Life Insurance Company, "Aspida"∆∆ is in the business of protecting dreams. They were founded in 2020 by a collective vision of industry professionals with over 200 years of combined experience.
Aspida’s goal, simply put, is to provide more return with less risk for their policyholders. Their priority is to help you - whether you’re a client, financial professional, or a partner that shares their passion for financial services technology.
The insurance rating agency of AM Best recently affirmed Aspida’s financial strength rating of A-(Excellent)> based on the strength of their balance sheet and overall liquidity sources.
Aspida is backed by Ares Management Corporation, a leading global alternative investment manager with approximately $447B AUM,1 founded in 1997.
Product
Rate<††
Term††
Penalty-free withdrawals††
Aspida Advisory MYGA 2
5.40% ($100k+2)
5.25% ($25k+)
2 Years
Available starting in year 2
Aspida Advisory MYGA 3
5.50% ($100k+)
5.35% ($25k+)
3 Years
Aspida Advisory MYGA 5
5.65% ($100k+)
5.50% ($25k+)
5 years
Aspida Advisory MYGA 7
5.65% ($100k+)
5.50% ($25k+)
7 Years
The Aspida Advisory MYGA protects your initial payment, as well as the interest earned, from fluctuations in the market. Your growth is guaranteed.††
Your premium earns a guaranteed interest rate for the term you choose and continues to accumulate interest at the same compounded rate for the length of your contract. After the initial guarantee period ends, your interest rate will change, but will never be lower than the minimum guaranteed interest rate stated in the contract.††
Your earnings grow 100% tax-deferred,«« which means you don’t pay taxes on the interest as it’s earned, but only when you withdraw it at a future date (usually retirement).‡‡ This feature allows your contract value to grow faster when compared to taxable returns.††
Guaranteed periods
2, 3, 5, or 7 years
Issue ages
18-90 years
Premium2
Minimum of $25,000 and maximum of $1,000,000
Death Benefit
If the owner/annuitant dies before the maturity date, the beneficiaries will receive the full contract value, with no withdrawal charges or market value adjustment (MVA) applied.
Penalty-free Withdrawals
Before the first contract anniversary, none available. Up to 10% of the contract value may be withdrawn without any withdrawal charges or Market Value Adjustment (MVA) after the first contract anniversary.
Nursing Home Waiver
The owner can withdraw up to 100% of the contract value if they are confined to an eligible Nursing Home. This benefit is available if confined for at least 90 consecutive days any time after the first Contract Anniversary and meet eligibility requirements. No Withdrawal Charge or MVA will be applied if the owner qualifies for this benefit. To receive the Nursing Home Waiver, the owner cannot be confined on the Contract Effective Date.
Terminal Illness Waiver
The owner can withdraw up to 100% of the contract value if diagnosed with a terminal illness that is expected to result in death within one year and they meet eligibility requirements. No Withdrawal Charge or MVA will be applied if the owner qualifies for this benefit. This waiver is available after the first Contract Anniversary and the initial diagnosis of terminal illness must be made after the Contract Effective Date.
Market Value Adjustment (MVA)
Subject to the exceptions stated in the contract, an MVA will be applied if part or all of the Contract Value is withdrawn above any allowable free amount. The MVA can be positive or negative.
If a withdrawal is requested during the first year of the contract, in excess of the penalty-free amount after the first contract anniversary, or if the contract is surrendered before the end of the current guarantee period, the withdrawal may be subject to a withdrawal charge and MVA. Each guarantee period has its own withdrawal charge schedule, which decreases over time, as shown below.
Contract year
1
2
3
4
5
6
7
8
2-year guarantee period
9%
8%
0%
3-year guarantee period
9%
8%
7%
0%
5-year guarantee period
9%
8%
7%
6%
5%
0%
7-year guarantee period
9%
8%
7%
6%
5%
4%
3%
0%
* Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC, where applicable, and to Flourish Insurance Agency LLC in its capacity as a licensed insurance producer providing insurance services related to such platform, and where applicable, the individual annuity contracts intended to be purchased by individual clients of registered investment advisors (“RIAs”). Flourish Insurance Agency LLC does business in California under the name Flourish Digital Insurance Agency.
An annuity is an insurance contract. Annuities shown on the platform are sold through Flourish Insurance Agency LLC, with offices in Jersey City, New Jersey, a licensed insurance producer, and are issued by one or more approved licensed life insurance companies. The issuing insurance company, not any Flourish company, is solely responsible for its own financial and contractual obligations. All benefits and guarantees of the annuity contract are subject to the claims paying ability of the issuing insurance company. This is not a proposal or a solicitation to purchase insurance. Flourish Annuities is not available to New York residents.
> View AM Best’s Guide to Financial Strength Ratings for a full description of its rating scale and categories and to compare where a particular insurer's ranking falls within the total number of categories. https://www.ambest.com/ratings/guide.pdf
∆∆ Aspida is the trade name of Aspida Life Insurance Company and its affiliates. Each company is solely responsible for its own financial conditions and contractual obligations.
«« Qualified accounts will not have any additional tax deferral benefit.
†† The issuing insurance company, not any Flourish company, is solely responsible for its own financial and contractual obligations. All benefits and guarantees of the annuity contract are subject to the claims paying ability of the issuing insurance company.
< Rates displayed here are subject to change at any time, including a downward change.
« Guarantees are backed by the claims-paying ability of Aspida Life Insurance Company (“Aspida”). Annuities are designed for long-term accumulation of money; surrender and withdrawal fees may apply on early withdrawals. Annuity withdrawals are subject to income tax, and withdrawals prior to age 59½ may also be subject to an IRS penalty.
This piece provides a brief summary of product features. The contract associated with the product will contain the actual terms, definitions, limitations, and exclusions that apply. Product features and availability vary by state and are solely the responsibility of Aspida. Aspida Advisory MYGA-2, -3, -5, and -7 contract form series ICC22C-MYGA1012 and C-MYGA1012. Some exclusions and exceptions apply. Please refer to the contract for the actual terms and conditions that apply.
The statements and comments offered in this communication are provided as general information and ideas. They are not intended to be, nor should they be relied on as, investment, legal, tax advice, or recommendations. Before making a decision or giving advice about any matter contained in this communication, agents or individuals should consult their own attorney, tax, or investment advisor.
Products and services are underwritten and/or provided by Aspida (Administrative Office: Durham, NC), licensed in 49 states (excluding New York) and the District of Columbia. Products and services may not be available in all states.
Not FDIC/NCUA Insured • May Lose Value • Not Bank/CU Guaranteed • Not a Deposit • Not Insured by Any Federal Government Agency
1 As of June 30, 2024. AUM amounts include funds managed by Ivy Hill Asset Management, LP., a wholly owned portfolio company of Ares Capital Corporation and registered investment adviser.
2 $25,000 premium minimum to $1,000,000 maximum. A premium of more than $1,000,000 may be accepted with prior approval from Aspida.
3 Aspida Advisory MYGA withdrawal charges may vary by state.
