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Annuity review

Synergy Choice Income

The Synergy Choice Income annuity is a dependable and user-friendly product. Its strong security offers you peace-of-mind and consistent income for your retirement years.

With it, you can customize your income-plan based on your needs. It's your personal pension that keeps your future prosperous and worry-free. Quite a smart choice for a comfortable life!

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Your State

Investment

Your Gender

Your Age

Retire At

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About Product

Type

Fixed Index

Purpose

Lifetime Income

Term

10 Years

Surrender schedule

Fee withdrawal:

10%

Market Value Adjustment

Yes

Return Of Premium

Minimum Contribution

$25,000

Maximum Contribution

$1,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, IRA, IRA Rollover, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, and TSP

Launch Date

11/06/2023

The Synergy Choice Income fixed index annuity can help you achieve the retirement of your dreams with a built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) rider that converts a portion of savings into a stream of income that is guaranteed to last for a lifetime, or two.

Available in states: AL, 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, NJ, NM, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, and WY

Allocation Accounts

Name	Type	Rates
1-Year Fixed Account	Fixed	2.5% Fixed
1-Year S&P 500 PTP Cap	Point to Point Annual	4.5% Cap
2-Year S&P 500 PTP Cap	Point to Point Biennial	9.5% Cap
2-Year Citi Aria PTP Participation Rate	Point to Point Biennial	77% Participation
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	30% Participation
2-Year S&P 500 PTP Participation Rate	Point to Point Biennial	35% Participation
1-Year Citi Aria PTP Participation Rate	Point to Point Annual	48% Participation
1-Year GS Grand Prix PTP Participation Rate	Point to Point Annual	132% Participation
2-Year GS Grand Prix PTP Participation Rate	Point to Point Biennial	190% Participation
1-Year Fixed Account	Fixed	2.75% Fixed
2-Year Citi Aria PTP Participation Rate	Point to Point Biennial	85% Participation
1-Year Citi Aria PTP Participation Rate	Point to Point Annual	54% Participation
2-Year GS Grand Prix PTP Participation Rate	Point to Point Biennial	205% Participation
1-Year GS Grand Prix PTP Participation Rate	Point to Point Annual	145% Participation
2-Year S&P 500 PTP Participation Rate	Point to Point Biennial	39% Participation
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	33% Participation
2-Year S&P 500 PTP Cap	Point to Point Biennial	10.5% Cap
1-Year S&P 500 PTP Cap	Point to Point Annual	5.25% Cap
1-Year Invesco QQQ Growth PTP Cap	Point to Point Annual	5% Cap
2-Year Invesco QQQ Growth PTP Participation Rate	Point to Point Biennial	75% Participation
2-Year Nasdaq-100 PTP Participation Rate	Point to Point Biennial	32% Participation
1-Year Nasdaq-100 PTP Cap	Point to Point Annual	3.5% Cap
2-Year Nasdaq-100 PTP Cap	Point to Point Biennial	7.5% Cap
1-Year Nasdaq-100 PTP Participation Rate	Point to Point Annual	27% Participation
2-Year Nasdaq-100 PTP Participation Rate	Point to Point Biennial	35% Participation
1-Year Nasdaq-100 PTP Participation Rate	Point to Point Annual	30% Participation
2-Year Nasdaq-100 PTP Cap	Point to Point Biennial	9% Cap
1-Year Nasdaq-100 PTP Cap	Point to Point Annual	4.25% Cap
1-Year Invesco QQQ Growth PTP Cap	Point to Point Annual	6% Cap
2-Year Invesco QQQ Growth PTP Participation Rate	Point to Point Biennial	80% Participation

Surrender schedule

Year	1	2	3	4	5	6	7	8	9	10
Penalty	9%	9%	8%	7%	6%	5%	4%	3%	2%	1%

Hypothetical Projection

Comparison against S&P 500 using current rates

See if this annuity ranks in your top 3 for Ohio

Investment Amount

Riders

Name	Inbuilt	Fee
Guaranteed Lifetime Income Benefit Rider	Yes	0.50% annually (1.50% max)

Waivers

Death

Your named beneficiaries will receive the Death Benefit with no Withdrawal Charge or MVA applied.

Nursing Home

You can withdraw up to 100% of your annuity’s Contract Value if you are confined to an eligible Nursing Home. This benefit is available if you are confined for at least 90 consecutive days any time after your first Contract Anniversary and meet eligibility requirements. No Withdrawal Charge or MVA will be applied if you qualify for this benefit. To receive the Nursing Home Waiver, you cannot be confined on the Contract Effective Date.

Terminal Illness

You can withdraw up to 100% of your annuity’s Contract Value if you are diagnosed with a terminal illness that is expected to result in death within one year and meet eligibility requirements. No Withdrawal Charge or MVA will be applied if you qualify for this benefit. This waiver is available after your first Contract Anniversary and the initial diagnosis of terminal illness must be made after the Contract Effective Date.

Premium Notes

Plan Types
May be issued as Non-Qualified, Traditional IRA, or Roth IRA Accepts rollovers from qualified plans, 457 plans, IRAs, Simplified Employee, Pension (SEP) plans, 403(b) plans, and SIMPLE IRAs. Note: Inherited IRA would be rolled over into a New Traditional IRA. If you already have an IRA, you can roll over the inherited assets to another traditional IRA in your name or convert the assets to a Roth IRA. The simplest way to do that is through a direct, trustee-to-trustee transfer from one account to the other or between one IRA custodian and another.

Withdrawal Provisions

Penalty-Free Withdrawals Up to 10% of the Contract Value may be withdrawn without any Withdrawal Charge or Market Value Adjustment (MVA) after the first contract anniversary. A withdrawal from your Contract Value will reduce the GLWB rider’s Benefit Base (and thus the amount of future lifetime income withdrawals) proportionally prior to the rider's activation. Required Minimum Distributions (RMD) RMDs from your tax-qualified IRA available after 30 days. All other withdrawals are available at the beginning of year two. 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.

Company Founded: 2021

Excellent Rated Company

Aspida Life Insurance Company

Company Ratings

4.3