The Ohio State Life Insurance Company
4.8
based on complex data
Annuity Educator Rating
Annuity review

Nex Multi-Year Guaranteed Annuity

The Nex Multi-Year Guaranteed Annuity offers a win-win option for those nearing retirement or already retired. This product prioritises income growth, allowing your money to mature at higher interest rates when compared with conventional financial products. Even better, with tax deferred until accessed, it paves the way for faster, compounded monetary growth.

Aside from the favorable growth conditions, this annuity also ensures flexibility with withdrawal terms and protection for your principal investment. It further improves financial planning, allowing asset transfer to beneficiaries, skirting the usual probate process. It's a safe and effective retirement solution, addressing the concern of outliving your savings, and countering the volatility of other investment avenues.

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Nex Multi-Year Guaranteed Annuity

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About Product

Premium Type
Single Premium
Fee withdrawal:
None
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$10,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, IRA Rollover, Inherited IRA, and TSP

MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
3 years 5.5%
5 years 5.5%
7 years 5%
10 years 5%
Nex MYGA is a single premium deferred annuity (fixed annuity) policy with multi-year interest rate guarantee period options. Interest Rate Guaranteed interest rate over the initial guarantee period that corresponds with the guarantee period owner selects.

Market Value Adjustment
Under the terms of the policy, Ohio State Life adjusts the cash surrender value, death benefit, and/or withdrawal amounts during any guarantee period by a factor called the Market Value Adjustment (MVA). The MVA is based on the Constant Maturity Treasury Rate (CMT) appropriate for the guarantee period as shown on the policy schedule.

Annuitization Payment Options Available:
  • Payments for Fixed Period of Time Option 
  • Life Income Option
  • Life Income plus Fixed Period Option
  • Payments of Fixed Amounts Option 
  • Joint Life Income Option 
  • Other Payments Option
Death Benefit:
Cash Surrender Value unless Death Benefit Rider is Elected 30bps.

Principal Guarantee
Initial principal and interest guaranteed at maturity, until then you pay fees

Applications for annuitants ages 75 or older or for policies more than $250,000 may be referred for enhanced underwriting and suitability review and/or home office approval.

Note: Ohio State Life accepts TSP as a rollover

Year by Year Account Balance

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Riders

Name Inbuilt Fee
Nursing Home Rider - Waiver of Withdrawal Charge (15 bps) No 0.15% rate reduction
10% Free Partial Withdrawal (15 bps) No 0.15% rate reduction
Death Benefit (30 bps) No 0.30% rate reduction

Waivers

Annuitization

Owner has the flexibility to choose payout of income over lifetime or defined period.

Surrender Window

Withdrawal charges will be waived during the 30 days following the end of each guaranteed period.

Company Founded: 1906
Good Rated Company
The Ohio State Life Insurance Company
Company Ratings
4.9
  • A.M. Best B+
Assets: $374,985,920
Texas

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