Synergy Choice

A Single Premium Multi-Year Guaranteed Annuity (MYGA)

Synergy ChoiceTM MYGA from Aspida Life Insurance Company – with 2-7 year guarantee period options – offers a simple, steady, and guaranteed way to build retirement savings with flexible contract features to fit your life.

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What is a MYGA?

Fixed annuities offer a secure, low-risk way to grow tax-deferred money for retirement. Fixed annuities, like a multi-year guaranteed annuity (MYGA), are a great choice as part of a diversified retirement portfolio and will allow you to grow money safely for a period of time until you’re ready to use it. Growth is based off the interest rate of the annuity and will increase steadily throughout the term of your contract.

Since there is no market risk associated with a fixed annuity, your principal (the money you put in at the start of your contract) is guaranteed to grow at a fixed, steady rate, making a fixed annuity a great place to put money you want to protect before retirement.

Why Synergy Choice?

Protection of Your Principal

The money you put towards your annuity, as well as the interest earned, is protected from loss for the length of your contract.

Guaranteed Interest Rate

The rate of return for your Synergy Choice contract is locked in for the 2-, 3-, 5-, or 7-year guarantee period you choose. This means your money is guaranteed to grow at the same rate for the length of your contract.

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.

Customizable Contract Options

Choose what works best for you. Customize your Synergy Choice contract by adding a withdrawal and/or death benefit feature.

Purchasing Synergy Choice is EASY

1

Choose your initial amount.3

2

Select the length of your contract.

3

Add optional features that work for you.4

4

Relax and watch your money grow.

Customizable Features4

MYGAs often provide additional features to help customize your contract so it works best for you. Below are the highlights. Find more details about these – and other – features here.

Access to Your Funds

Enhance your annuity contract with an optional withdrawal feature that's free from withdrawal charges and market value adjustments (MVAs). You can choose to add either Free Interest Withdrawals or 10% Free Withdrawals.

Leaving a Legacy

If you die before you begin receiving annuity income payments from your contract, the beneficiaries you have chosen will receive the proceeds based on the Death Benefit Option you select.

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Laddering: A Synergy Choice Portfolio Strategy

Breaking up your purchase into multiple fixed annuities with different contract terms is a useful strategy in a low interest rate environment. A fixed annuity laddering strategy accomplishes two things: you’re able to secure a higher interest rate today that’s only available for longer time commitments and also create multiple opportunities to reinvest at potentially higher future rates.

Let’s put it into perspective. Instead of buying one 5-year fixed annuity, you could buy three fixed annuities with interest rate guarantee periods of 3-years, 5-years, and 7-years. The money locked in for longer will be eligible for higher rates today. You’ll also have liquidity available at multiple dates in the future, which makes it more likely to catch higher rates if they rise in the future.

How does it work?

We're glad you asked! Here's an example.

Say you have $120,000 in the piggy bank to invest. Instead of buying one fixed annuity, you split that money into multiple, smaller purchases.

You would take that $120,000 purchase and split it evenly between 3-year, 5-year, and 7-year fixed annuities. Based upon hypothetical rates, this would credit you 3.60%, 4.00%, and 4.05%, respectively.

This way, you’ll have funds whose rates are ending in three different years, giving you a step-up in your reinvestment opportunities.

This is a hypothetical example. The chart shows investment and cumulative pre-tax interest. Chart shows assumed rates of return based on a $120,000 investment and is not indicative of any particular annuity’s return.

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Footnotes

1The guaranteed rate is good for the guaranteed period you select at the time of purchase. 2Qualified accounts will not have any additional tax deferral benefit. 3$25,000 premium minimum to $1,000,000 maximum. A premium of more than $1,000,000 may be accepted with prior approval from Aspida. 4Selection of the optional Death Benefit or Withdrawal Features will reduce your guaranteed interest rate. See contract for details.

Synergy ChoiceTM Legal Disclosure

Guarantees are backed by the claims-paying ability of Aspida Life Insurance Company (“Aspida”). Annuities are designed for long-term accumulation of money; surrender and withdrawal fees may apply on early withdrawals. Annuity withdrawals are subject to income tax, and withdrawals prior to age 59½ may also be subject to an IRS penalty.

This piece provides a brief summary of product features. The contract associated with the product will contain the actual terms, definitions, limitations, and exclusions that apply. Product features and availability vary by state and are solely the responsibility of Aspida. Synergy ChoiceTM MYGA-2, -3, -5, and -7 contract form series ICC22C-MYGA1012 and C-MYGA1012, and application series ICC22A-4014 and A-4014. Some exclusions and exceptions apply. Please refer to the contract for the actual terms and conditions that apply.

The statements and comments offered in this communication are provided as general information and ideas. They are not intended to be, nor should they be relied on as, investment, legal, tax advice, or recommendations. Before making a decision or giving advice about any matter contained in this communication, agents or individuals should consult their own attorney, tax, or investment advisor.

Products and services are underwritten and/or provided by Aspida (Administrative Office: Durham, NC), licensed in 48 states (excluding New York and Connecticut) and the District of Columbia. Products and services may not be available in all states.

Not FDIC/NCUA Insured • May Lose Value • Not Bank/CU Guaranteed • Not a Deposit • Not Insured by Any Federal Government Agency

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