Synergy Choice (2-Year)
The Synergy Choice 2-Year annuity product from Aspida Life Insurance is a top-notch retirement solution that protects your money and dreams. This multi-year guaranteed annuity offers a steady and secure way to build your nest egg. Key benefits include a guaranteed fixed interest rate, tax-deferred growth, and most importantly, protection of your principal investment.
Aspida brings the convenience of a digital age to retirement planning. Their client-centered platform allows you to easily choose your premium and contract terms, and then just sit back and watch your money grow. With the financial backing of a leading global alternative investment manager and the company's history of leveraging technological advancements, rest assured that your dreams are in safe hands.
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 2 years | 4.95% |
A Fixed Rate of Return
The rate of return for your Synergy Choice contract is locked-in for the 2, 3, 5, or 7 year guarantee period you choose.
Tax-Deferred Growth
All the earnings in a Synergy Choice MYGA grow 100% tax deferred, which means you don’t pay taxes on the interest as it’s earned, only when you withdraw it.
Protection from Loss
While the money in a guaranteed annuity may earn less interest over time than if it was invested in the stock market, it’s also protected from loss. Because your premium is protected—and any earnings are tax-deferred — a guaranteed annuity could be a smart place to keep all or a portion of your retirement savings.
Annuitization
After one year, you have the option to turn your annuity’s contract value into a stream of regular income payments through a process called annuitization. There are several settlement options available for your contract, including those that will generate a guaranteed lifetime income.
Access to your income
If you request a withdrawal or surrender your contract before the end of your current guarantee period, you may be subject to a withdrawal charge and market value adjustment. Each guarantee period has its own withdrawal charge schedule, which decreases over time.
Market Value Adjustment (MVA)
When you take a withdrawal in excess of any free amount during the withdrawal charge period, the amount you receive may be increased or decreased by a market value adjustment (MVA). If the market index interest rates are higher than when you purchased the annuity, the MVA amount will be negative, decreasing your withdrawal amount and/or annuity balance. If market index interest rates are lower than when you purchased the annuity, the MVA is positive, increasing your withdrawal amount and/or annuity balance. The MVA does not impact Annuitizations or the Minimum Guaranteed Surrender Value.
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Free Interest Withdrawal with 0.05% Rate Adjustment | No | 0.05% rate reduction |
| 10% Free Withdrawal with 0.10% Rate Adjustment | No | 0.10% rate reduction |
Waivers
No Waivers for Synergy Choice (2-Year) annuity.
- A.M. Best A-
- Comdex 56
