MYGA Plus 5 - Index-Linked Option
Get an annuity today!
Learn how an annuity can provide guaranteed income for life.
Highlights
The MYGA Plus is a multi-year guaranteed, single-premium deferred fixed annuity with an IndexLinked Option offered by Ibexis Life & Annuity Insurance Company. At its core, the MYGA Plus functions like a traditional multi-year guaranteed annuity (MYGA) product: it offers a Fixed Option that credits a simple guaranteed interest for a specific time (known as a Guaranteed Option Period or GOP). In addition, the MYGA Plus offers an additional premium allocation option. In the same contract, the client may also allocate up to 50% of their 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
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 in any amount on the anniversary, the IndexLinked Option rate will be credited to the client’s contract value based on the amount of premium allocated to the Index-Linked Option.
Allocation can be between 0% to 50% of the total premium.
Please see the Multi Year Guaranteed Fixed Option
Please note: LPL Financial Advisors can sell MYGA Plus annuity as OBA (outside business activity), but they still need to be aligned under an IMO.
Index-Linked Option
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 in any amount on the anniversary, the IndexLinked Option rate will be credited to the client’s contract value based on the amount of premium allocated to the Index-Linked Option.
Allocation can be between 0% to 50% of the total premium.
Please see the Multi Year Guaranteed Fixed Option
Please note: LPL Financial Advisors can sell MYGA Plus annuity as OBA (outside business activity), but they still need to be aligned under an IMO.
Available in states:
AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, and WY
|
Type
|
Fixed Index
|
|---|---|
|
Term
|
5 Years |
|
Surrender schedule
|
7.75%7.5%7.25%7%6% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$10,000 |
|
Types of funds
|
Non-Qualified, 401k, Profit Sharing, IRA, Spousal IRA, Pension, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, 1035 Exchange, and Inherited IRA |
Brochure
|
Open brochure |
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year S&P 500 Performance Triggered Index-Linked Option |
Performance Triggered
Annual
|
7.5%
Performance triggered
|
| 1-Year S&P 500 Performance Triggered Index-Linked Option (CA Only) |
Performance Triggered
Annual
|
7.4%
Performance triggered
|
| 1-Year S&P 500 Performance Triggered Index-Linked Option |
Performance Triggered
Annual
|
8%
Performance triggered
|
| 1-Year S&P 500 Performance Triggered Index-Linked Option (CA Only) |
Performance Triggered
Annual
|
7.9%
Performance triggered
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 7% | 6% |