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.
Nex Multi-Year Guaranteed Annuity
About Product
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% |
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
Cash Surrender Value unless Death Benefit Rider is Elected 30bps.
Principal Guarantee
Initial principal and interest guaranteed at maturity, until then you pay fees
Note: Ohio State Life accepts TSP as a rollover
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.
- A.M. Best B+
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