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Annuity review

FIA Plus 7 with Premium Bonus

The FIA Plus 7 with Premium Bonus is a terrific choice for securing a steady income during retirement. This annuity not only offers a generous initial bonus but also provides an excellent return on your investment. It's simple, reliable, and efficient.

Its best feature is its capacity to adapt to market changes. Even in challenging financial times, this product aims to protect your capital while promoting growth. Planning for retirement has never been easier or more reassuring!

FIA Plus 7 with Premium Bonus

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About Product

Type

Fixed Index

Purpose

Accumulation

Premium Bonus

12%

Term

7 Years

Surrender schedule

7.25%

6.25%

Fee withdrawal:

10%

Market Value Adjustment

Yes

Return Of Premium

Minimum Contribution

$25,000

Maximum Contribution

$2,000,000

Max Age Qualified

Types Of Funds

Non-Qualified, 401k, Profit Sharing, Traditional IRA, Pension, IRA Rollover, TSA 403b, and Roth Conversion (Full)

Launch Date

05/01/2023

The FIA Plus is a single-premium, deferred annuity from Ibexis Life & Annuity Insurance Company. Initial premium may be allocated to the Index-Linked Strategy or the Fixed Interest Strategy, in any combination. The Floor for any initial premium allocation in the Index-Linked Strategy is always 0%. A Floor Limit will be elected at the time of application and may be adjusted on any contract anniversary. Selecting a Floor Limit less than 0% will automatically allocate the Tracking Value to the next available Floor, less than 0%, with sufficient Tracking Value Gains, and will generally provide higher upside potential.

Floor Limits available include: 0%, -2.5%, -5%, -10%, -15%

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, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, and WY

Allocation Accounts

Name	Type	Rates
1-Year Declared Rate with 0% Floor	Blend	3.15% Fixed
1-Year Declared Rate with -2.5% Floor	Blend	3.15% Fixed
1-Year Declared Rate with -5% Floor	Blend	3.15% Fixed
1-Year Declared Rate with -10% Floor	Blend	3.15% Fixed
1-Year Declared Rate with -15% Floor	Blend	3.15% Fixed
1-Year Fixed Account	Fixed	2.75% Fixed
1-Year HSBC AI Global Tactical PTP Participation Rate with -2.5% Floor	Blend Annual	111% Participation
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with 0% Floor	Blend Annual	64% Participation
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -2.5% Floor	Blend Annual	89% Participation
1-Year HSBC AI Global Tactical PTP Participation Rate with -15% Floor	Blend Annual	164% Participation
1-Year HSBC AI Global Tactical PTP Participation Rate with -10% Floor	Blend Annual	156% Participation
1-Year S&P 500 PTP Cap with 0% Floor with Bailout	Blend Annual	5.5% Cap
1-Year S&P 500 PTP Cap with -2.5% Floor with Bailout	Blend Annual	6.75% Cap
1-Year S&P 500 PTP Cap with -5% Floor with Bailout	Blend Annual	7.5% Cap
1-Year S&P 500 PTP Cap with -10% Floor with Bailout	Blend Annual	10% Cap
1-Year S&P 500 PTP Cap with -15% Floor with Bailout	Blend Annual	12.5% Cap
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -15% Floor	Blend Annual	164% Participation
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -10% Floor	Blend Annual	147% Participation
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -5% Floor	Blend Annual	114% Participation
1-Year HSBC AI Global Tactical PTP Participation Rate with 0% Floor	Blend Annual	83% Participation
1-Year HSBC AI Global Tactical PTP Participation Rate with -5% Floor	Blend Annual	131% Participation
1-Year Declared Rate with -10% Floor	Blend	3.35% Fixed
1-Year Declared Rate with -5% Floor	Blend	3.35% Fixed
1-Year Declared Rate with -2.5% Floor	Blend	3.35% Fixed
1-Year Declared Rate with -15% Floor	Blend	3.35% Fixed
1-Year Declared Rate with 0% Floor	Blend	3.35% Fixed
1-Year Fixed Account	Fixed	2.95% Fixed
1-Year S&P 500 PTP Cap with 0% Floor with Bailout	Blend Annual	6.5% Cap
1-Year HSBC AI Global Tactical PTP Participation Rate with -5% Floor	Blend Annual	138% Participation
1-Year HSBC AI Global Tactical PTP Participation Rate with -10% Floor	Blend Annual	163% Participation
1-Year HSBC AI Global Tactical PTP Participation Rate with -15% Floor	Blend Annual	171% Participation
1-Year HSBC AI Global Tactical PTP Participation Rate with -2.5% Floor	Blend Annual	118% Participation
1-Year HSBC AI Global Tactical PTP Participation Rate with 0% Floor	Blend Annual	90% Participation
1-Year S&P 500 PTP Cap with -15% Floor with Bailout	Blend Annual	13.5% Cap
1-Year S&P 500 PTP Cap with -10% Floor with Bailout	Blend Annual	11% Cap
1-Year S&P 500 PTP Cap with -2.5% Floor with Bailout	Blend Annual	7.75% Cap
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -15% Floor	Blend Annual	171% Participation
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -10% Floor	Blend Annual	154% Participation
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -5% Floor	Blend Annual	121% Participation
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with -2.5% Floor	Blend Annual	96% Participation
1-Year BofA U.S. Strength Fast Convergence PTP Participation Rate with 0% Floor	Blend Annual	71% Participation
1-Year S&P 500 PTP Cap with -5% Floor with Bailout	Blend Annual	8.5% Cap
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with -10% Floor	Blend Annual	79% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with 0% Floor	Blend Annual	35% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with -2.5% Floor	Blend Annual	48% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with -5% Floor	Blend Annual	62% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with -15% Floor	Blend Annual	105% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with -10% Floor	Blend Annual	88% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with 0% Floor	Blend Annual	35% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with -2.5% Floor	Blend Annual	47% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with -5% Floor	Blend Annual	59% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with -15% Floor	Blend Annual	93% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with 0% Floor	Blend Annual	39% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with -2.5% Floor	Blend Annual	52% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with -5% Floor	Blend Annual	66% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with -10% Floor	Blend Annual	92% Participation
1-Year S&P 500 Engle 16% VT TCA PTP Participation Rate with -15% Floor	Blend Annual	109% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with 0% Floor	Blend Annual	39% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with -15% Floor	Blend Annual	97% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with -10% Floor	Blend Annual	83% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with -5% Floor	Blend Annual	63% Participation
1-Year BlackRock U.S. Equity Bitcoin Balanced Risk 12% PTP Participation Rate with -2.5% Floor	Blend Annual	51% Participation

Surrender schedule

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

Hypothetical Projection

Comparison against S&P 500 using current rates

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Riders

No Riders for FIA Plus 7 with Premium Bonus annuity.

Waivers

Bail-Out

If the declared Floor S&P 500 Annual Point to Point with Cap Rate ever falls below the corresponding declared Bailout Rate, contract owners have up to 30 days to withdraw any amount up to the full Tracking Value plus Fixed Interest Strategy Value without withdrawal charges, market value adjustments or premium bonus vesting adjustments.

Terminal Illness

Unavailable in states: CA

Eligibility after the first contract anniversary, however, diagnosis may have occurred prior. Diagnosis must be made by a certified physician that death will occur in 12 months or less. Not available in all states

Extended Care

Unavailable in states: CA

Eligibility begins after the first contract anniversary. Must be confined to a Hospital or certified. Long-Term Care facility for 90 consecutive days. Not available in all states.

RMD

Required Minimum Distributions are treated as penalty-free withdrawals up to the RMD amount, even when the RMD exceeds the stated free withdrawal limit.

Premium Notes

Issue Ages
FIA Plus 7: 0-85
If jointly owned, eligibility is based on older owner’s age

Premiums
Minimum Premium: $25,000.00
Maximum Premium: $1,500,000.00

Allocation Options

Fixed Interest Strategy: Allocations to this strategy credits a fixed rate of interest (credited daily) and creates a Fixed Interest Strategy Value. This rate is guaranteed for one year and can change annually on the contract anniversary. Initial allocations and any transfers to the Fixed Interest Strategy may not be reallocated to the Index-Linked Strategy on any contract anniversary.
Index-Linked Strategy: The Tracking Value is tracked daily and receives positive or negative Tracking Value Adjustments based on index performance, the applicable cap or participation rates or the annual declared rate.

Withdrawal Provisions

Penalty-Free Withdrawals and Required Minimum Withdrawals After the first contract anniversary, 10% of the sum of the Tracking Value and Fixed Interest Strategy Value from the previous contract anniversary is available for withdrawal free of any withdrawal charges or or Market Value Adjustment (“MVA”). Any time a withdrawal exceeds the penalty-free amount, the excess will incur a surrender charge, and an MVA will be applied. Required Minimum Withdrawals (“RMDs”) are mandatory withdrawals from qualified contracts. RMDs are not available during the first year and must be processed by the current carrier prior to any transfer. Thereafter, RMDs will be treated as Penalty-Free Withdrawals up to the RMD amount, even if it exceeds the stated free withdrawal amount. Minimum Account Balance After Surrenders and Withdrawals $5,000 Minimum Surrender and Withdrawal Amount $1,000 Systematic Withdrawal Provision Two automatic payment options for payment of either a specific amount or interest only on a repetitive basis. Minimum payment per mode is $100. Subject to Penalty-Free Withdrawals and RMD limitations. Frequency: monthly, quarterly, semi-annual or annual

Company Founded: 1937

Excellent Rated Company

Ibexis Life & Annuity Insurance Company

Company Ratings

4.6