Today, Aspida Life Insurance Company (“Aspida”) and Market Synergy Group launched the distribution of Aspida’s new Synergy Choice™ Income, a 10-year fixed index annuity (FIA) with a Guaranteed Lifetime Withdrawal Benefit Rider.

“Synergy Choice™ Income is a great complement to the existing suite of Synergy Choice annuity products,” said Chad Burns, Chief Distribution Officer for Aspida. “It offers our clients lifetime guaranteed income and we expect it to be well received in the annuity market.”

Synergy Choice™ Income is designed to create a guaranteed stream of income in an unpredictable market. The income rider that accompanies this product consists of three distinct phases to help consumers make the most of their annuity’s income potential:

• Growth: Each year, a simple interest roll-up rate is earned on the initial premium and added to the Benefit Base. The growth continues to accrue for ten years, or until the rider is activated. Lifetime payout factors also increase while income is deferred.
• Income: The rider is activated by starting lifetime income withdrawals.
• Guarantee: Clients continue to receive an income for life, even if the value of the contract is depleted.

“We are excited to expand our partnership with Aspida and deliver a compelling lifetime income solution to enhance the Synergy Choice™ product lineup,” said Jared Anderson, CSO of Market Synergy Group. “Generating guaranteed income remains one of the top concerns for those at, or approaching, retirement. Synergy Choice™ Income will allow our distributors and their agents to pair Aspida’s exceptional service platform with leading lifetime income guarantees for their clients.”

The Synergy Choice™ Income FIA is distributed exclusively by Market Synergy Group’s member partners. For more information about the product, including state availability and rates, visit aspida.com.