Ibexis MYGA Plus Annuity
Minimum Deposit: $100,000 | 5.80% (5.65% for $10,000+)
The Ibexis MYGA Plus pays simple interest not compounding interest. If you do not intend to withdraw your interest each month this may not be the best annuity rate (APY) available.
Ibexis MYGA Plus Annuity Details
Base rate | 5.80% ($100K+) |
Rate guaranteed | 5 years |
Guaranteed yield to surrender | 5.80% ($100K+) |
Guaranteed minimum renewal rate | .05% |
Market value adjustment | Yes |
Return of premium | No |
PREMIUM PAYMENTS | |
Type | Single |
Maximum | $1,500,000 |
Minimum | $10,000 |
Free Look Period | 30 Days |
AGE RESTRICTIONS | |
Owner | 0 – 85 |
Annuitant | 0 – 85 |
GUARANTEED RATE LOCK PERIOD
The rate is locked in for 45 days from the date the application is signed. If the funds are received after that period the rate might be subject to change and you will receive the rate in effect at that time.
FREE-LOOK PERIOD
30 days
It’s never too early to start planning for retirement. Selecting a strategy that works best involves assessing your goals, time horizon, and risk tolerance.
Ibexis MYGA Plus Annuity is an innovative product that combines a daily guaranteed interest crediting method with an Indexed Linked Option. The Indexed Linked Option allows you to allocate a portion of your annuity to a guaranteed interest rate option as well as to an index annuity crediting strategy offering more upside potential while still ensuring principal protection.
For the duration of the contract, you earn a fixed interest rate that is fully credited to your account every year if the S&P 500® Index gains in any annual period. If it goes up (no matter how much), you get the full fixed rate promised to you at the inception of your contract and any subsequent term.
This annuity provides an accumulation value that earns interest through a fixed account with a guaranteed interest rate that is set for a 3-, 5- or 7-year period. This annuity also provides several options for accessing funds.
Ibexis MYGA Plus Annuity may be appropriate for individuals who:
- Want a CD alternative due to low CD rates.
- Seek to accumulate money for retirement.
- Have a conservative risk tolerance and want to invest an inheritance or other lump sum.
- Want to secure a fixed annuity payment but not immediate income.
1. Withdrawal any amount free of charges and fees.
2. If you do nothing, the contract renews for the same term at the rates available at that time. Renewal rates for guarantee periods will be based on current economic conditions and are guaranteed to be no less than the guaranteed minimum interest rate of 1.00%.
WITHDRAWALS
- 10 % Free Withdrawals of accumulated interest beginning year two.
- Interest-only withdrawals: Yes
- Cumulative: No
- Market value adjustment (MVA): Yes
- Return of premium: No
Two automatic payment options for payment of either a specific amount or interest only on a repetitive basis. Minimum payment per mode is $100.
Frequency: monthly, quarterly, semiannual or annual
Extended Care Waiver
• Eligibility begins after the first contract anniversary
• Must be confined to a Hospital or certified Long Term Care facility
for 90 consecutive days
• Not available in all states
Terminal Illness Waiver
• Eligibility after the first contract year, however diagnosis may have
occurred prior
• Diagnosis must be by a certified physician that death will occur in 12
months or less
• Not available in all states
Taxes:
In general, annuities grow tax-deferred, meaning you don’t pay taxes until you withdraw your money from the annuity.
When you withdraw from your annuity the interest earned will be taxed at your ordinary-income tax rate.
Non-Qualified Annuity
Non-qualified funds are cash, checking, savings, life insurance cash value, etc. Only the interest you have earned will be taxed as ordinary income.
Qualified Annuity
Qualified funds are 401k, IRA, SEP, 403b, TSA, etc. Both principal and interest will be taxed as ordinary income as you withdraw money.
Roth IRA Annuity
Withdrawals from Roth IRA annuities are tax-free if the IRS requirements are met.
Early-Withdrawals
If you withdraw money from your annuity before you turn age 59½, you may receive a 10% IRS penalty in addition to paying ordinary income taxes.
Pros of the The Ibexis MYGA Plus
- Pays a guaranteed interest rate much higher than current CD Rates are paying.
- Your interest grows tax-deferred meaning you do not pay taxes on your interest until you withdraw it from your annuity.
- The death benefit is full account value and may avoid probate.
- Liquidity options provide you the access to the money that you need.
Approved In:
AK, AR, AZ, CO, CT, DC, DE, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, OH, OK, OR, PA, RI, SC, SD, TX, UT, VA, WA, WV, and WY
Free Ibexis Annuity Quote
Fill out the form below to receive a free annuity quote within 4 business hours, or use one of our annuity calculators.
The Ibexis MYGA Plus Annuity offers 2 ways to earn interest
Finding Additional Yield Potential
Multi-Year Guaranteed Fixed Option
A Multi-Year Guaranteed Fixed Option (MYGA) that pays an annual rate of simple interest that is guaranteed for the term of the annuity.
Index-Linked Option
An Index-Linked Option that pays a higher rate of interest than the Fixed Option, if the selected index value is higher than the previous years value.
A consistent theme for many consumers is wanting the highest guaranteed interest rate possible with the lowest amount of risk to their principal. For many years, this could be achieved simply by purchasing a fixed-rate product (such as a fixed annuity). However, balancing competitive rates with the safety of principals has become increasingly difficult.
Many consumers have purchased products with low rates instead of going further out on the risk spectrum to achieve higher potential returns. The new Ibexis MYGA Plus™ provides a guaranteed rate “bucket” as well as an S&P 500 Indexing Option – the best of both worlds!
If you’d like an opportunity for more upside potential while maintaining principle protection you may want to consider a fixed index annuity.
Ibexis Annuity News
The staying power of Ibexis and its annuity products for securing retirement.
Ibexis’ leaders, Nate Gemmiti (CEO & President) and Ryan Lex (Chief Distribution Officer) sit down for an interview with Insurance Newsnet.
Ibexis Life & Annuity Insurance Company™ Chooses FireLight® to Make Selling Annuities Easy
Ibexis Life & Annuity Insurance Company announced they have implemented FireLight® Illustration and e-Application technology to simplify the annuity sales process.
Ibexis Life And Annuity Insurance Company Ratings
Ibexis Life And Annuity Insurance Company are rated A- by AM Best.
Learn more about what these financial ratings mean.
Compare Ibexis MYGA Plus to Other Top 5 Year Fixed Annuities
Term | Insurer | Annuity | Rate | AM Best | Liquidity | ||
---|---|---|---|---|---|---|---|
5 Years | Ibexis Life | Ibexis MYGA Plus | 5.80% Simple | A- | |||
5 Years | Atlantic Coast Life | Safe Haven 5 | 5.65% | B++ | |||
5 Years | Nassau | MYAnnuity | 5.50% | B++ | |||
5 Years | AMERICO | Platinum Assure | 5.40% | A | |||
5 Years | Athene | MaxRate | 5.35% | A |