Ibexis MYGA Plus Annuity | Up to 5.80% for 5 Years

Ibexis Annuity Rates

Ibexis 5 Year MYGA Plus Fixed Annuity

Ibexis Annuity Logo The Ibexis MYGA Plus 5 Year fixed annuity currently pays a guaranteed annuity rate of 5.80%; which is guaranteed for the duration of the 5-year contract. However, this annuity pays simple interest – that is a very important fact when considering an annuity.

What Does Simple Interest Mean?

The table below compares a $100K annuity that earns 5.80% simple interest to an annuity earning 5.80% compounding interest. As you see the annuity that earns compounding interest earns an additional $3,565 over the course of 5 years.

Table that compares a $100K annuity growing at 5.8% simple to 5.8% compounding

Key Take-aways

  • The Ibexis Annuity is likely not your best option if your objective is a safe accumulation and you do not intend to take any withdrawals from your annuity.
  • If you are planning to take systematic withdrawals of interest each month then I would say the Ibexis warrants consideration. If you are taking monthly withdrawals of interest compounding would never come into play.
  • Ibexis Annuity Rates

    MYGA Plus Contract Terms

    Guaranteed Interest Rate Option: 5.80% Simple

    The Ibexis MYGA Plus is a multi-year guaranteed, single-premium deferred fixed annuity with an Index-linked Option offered by Ibexis Life & Annuity Insurance Company. 

    The Ibexis Plus MYGA Plus functions like a traditional multi-year guaranteed annuity (MYGA) product: it offers a Fixed Rate Option that credits a simple guaranteed interest for a specific. In addition, MYGA Plus offers an additional premium allocation option.

    In the same contract, you may also allocate up to 50% of your premium to an Index-Linked Option, which credits a guaranteed fixed amount if the S&P 500 increases during any annual period.

    Index-Linked Option: 7.20%
    Offers a fixed annual rate that will be credited only if the tracked index (currently the S&P 500) is higher than the previous year on a point-to-point basis. This is evaluated each year on the contract anniversary. If the index is higher than the previous year’s value, even by 1 point, the specified index Linked Option rate will be credited to your contract.

    Ibexis MYGA Index Plus Index Strategy Infographic

    You can allocate 0% up to 50% of your total premium.

    Free Surrenders and Withdrawals
    After the first contract anniversary, 10% of the accumulation value from the previous contract anniversary is available for withdrawal free of any surrender charges

    Surrender Charge Schedule
    The initial interest rate is guaranteed for the selected 3-, 5-, or 7-Year Guarantee Period. Prior to the end of any guarantee period, contract holders will have a 30-day window to choose one of the following options: 

    • Renew their contract with a new rate into the same Guarantee Period (New Surrender Charge Schedule and MVA will apply) 
    • Withdraw some or all their accumulated account value free of surrender charges and MVA. 

    This renewal process will continue until the contract is surrendered, annuitized, death of the contract owner(s), or age 95.

    Systematic Withdrawal Provision
    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.

    Issue Ages
    5 Year Term: 0-85
    If jointly owned, eligibility is based on older owner’s age

    Premium Deposit Limits
    Premium: $10,000.00
    Maximum Premium: $1,500,000.00

    After the first contract year, the contracts account value can be annuitized under any annuity option outlined in the contract.

    Qualified Plans
    Rollovers from IRAs, 401(k), 403(b), pension or profit sharing plans.

    Death Benefit
    Prior to the Annuity Income Date, the death benefit is equal to the contract value at the time of death, free of Surrender Charges and MVA (if applicable)

    Not available in: AL, CA, FL, NH, NJ, NY, PR, TN, VT, VI, WI

    About Ibexis

    About Ibexis

    Company Timeline

    Compare Ibexis Annuities to other Top Companies

    TermInsurerCompany ProfileAnnuityRateAM BestApply
    5 Years Ibexis Annuity Logo Ibexis LifeIbexis MYGA Plus5.80% SimpleA-
    5 Years Farmers Life Annuity Logo Farmers LifeSafeguard Plus5.50%B++
    5 Years Atlantic Coast Life Logo Atlantic Coast LifeSafe Haven 55.45%B++
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