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Why annuities from Aspida?
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 $419B AUM,1 founded in 1997.
Aspida products available through Flourish Annuities*
|
Product |
Rate<†† |
Term†† |
Penalty-free withdrawals†† |
|---|---|---|---|
|
Aspida Advisory MYGA 2 |
5.55% ($25k+) |
2 years
|
Available starting in year 2
|
|
Aspida Advisory MYGA 3 |
6.05% ($100k+)
5.90% ($25k+) |
3 years
|
|
|
Aspida Advisory MYGA 5 |
6.15% ($100k+)
6.00% ($25k+) |
5 years
|
|
|
Aspida Advisory MYGA 7 |
5.90% ($100k+)
5.75% ($25k+) |
7 years
|
What is the Aspida Advisory MYGA?
The Aspida Advisory MYGA is a single premium deferred fixed multi-year guaranteed annuity offering multiple interest rate guarantee periods for a secure, low-risk way to grow tax-deferred money for retirement.††
What this product offers
Protection from loss
The Aspida Advisory MYGA protects your initial payment, as well as the interest earned, from fluctuations in the market. Your growth is guaranteed.††
Dependable growth
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.††
Growth is tax deferred
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.††
Aspida Advisory MYGA product information††«
|
Guarantee 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.
|
Withdrawal charges‡‡
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.Withdrawal charge schedule3
| 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%
|