MYGA Plus 7 - Index-Linked Option

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