WealthLock Income Builder 10

Created in 2021 by a group of industry experts, the Aspida Life Insurance Company is an important provider of annuity and retirement planning solutions. A subsidiary of Ares Management Corp., a global alternative investment manager, the company targets the retirement market by offering all sorts of annuities, life insurance, and personalized services to retirees. With a financial strength rating of A- from A.M. Best and Fitch Ratings, the company has been continuously expanding over the last couple years despite being formed quite recently.

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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

$20,000

Maximum Contribution

$2,000,000

Max Age Qualified

Types Of Funds

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

Launch Date

05/11/2026

The WealthLock Income Builder is a fixed index annuity with a built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) rider designed to help you create a guaranteed payout in retirement that can support you and your spouse for the remainder of your lives.

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
5-Year BofA USA Growth FC 10 High Water Mark Participation Rate	High Water Mark (Quarterly) 5-Year	75% Participation
2-Year BofA USA Growth FC 10 High Water Mark Participation Rate	High Water Mark (Quarterly) Biennial	50% Participation
2-Year S&P Global Diversified 7.5% High Water Mark Participation Rate	High Water Mark (Quarterly) Biennial	70% Participation
5-Year S&P Global Diversified 7.5% High Water Mark Participation Rate	High Water Mark (Quarterly) 5-Year	100% Participation
5-Year Invesco Peak II High Water Mark Participation Rate	High Water Mark (Quarterly) 5-Year	100% Participation
2-Year Invesco Peak II High Water Mark Participation Rate	High Water Mark (Quarterly) Biennial	70% Participation
1-Year Fixed Account	Fixed	2.75% Fixed
1-Year Nasdaq-100 PTP Cap	Point to Point Annual	4.5% Cap
1-Year Invesco Peak II PTP Participation Rate	Point to Point Annual	85% Participation
1-Year S&P 500 PTP Cap with Bailout	Point to Point Annual	4.75% Cap
1-Year S&P Global Diversified 7.5% PTP Participation Rate	Point to Point Annual	85% Participation
1-Year BofA USA Growth FC 10 PTP Participation Rate	Point to Point Annual	60% Participation
1-Year S&P 500 Performance Trigger	Performance Triggered Annual	4.25% Performance triggered

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

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Riders

Name	Inbuilt	Fee
WealthLock Income Builder GLWB Rider	Yes	1.00% annually

Waivers

No Waivers for WealthLock Income Builder 10 annuity.

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 Guaranteed Lifetime Withdrawal Benefit (GLWB) rider’s Benefit Base (and thus the amount of future lifetime income withdrawals) proportionally prior to the rider’s activation. Withdrawal charges may vary by state. 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