WealthLock MYGA

A Single Premium Multi-Year Guaranteed Annuity (MYGA)

WealthLockSM MYGA from Aspida Life Insurance Company – with 2-7 year guarantee period options – offers a secure, low-risk way to grow tax-deferred money for retirement. It gives you dependable growth and security for your loved ones with benefits like guaranteed interest, direct access to your money when you need it, tax-deferred growth, and multiple guaranteed income options.

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What is a MYGA?

A multi-year guaranteed annuity (MYGA) is a type of fixed annuity. That’s just a fancier way of saying that the money you put in initially – your principal – grows safely and securely at a fixed rate for the timeframe you choose. Since there is no market risk associated with a MYGA, your principal is guaranteed to grow at a fixed, steady rate.

Guaranteed growth opportunities, competitive fixed rates, and protection from market downturns can make a MYGA a great place to put money you want to protect before retirement. With WealthLock MYGA, you can sit back and watch your money grow steadily and reliably until you’re ready to use it.

Why WealthLock MYGA?

Protection of Your Principal

The WealthLock MYGA protects your initial payment from fluctuations in the market, and your growth is guaranteed.

Guaranteed Interest Rate

Your money is guaranteed to grow at the same compounded rate for the length of your contract.

Tax-Deferred Growth

Your earnings grow 100% tax deferred, which means you don’t pay taxes on the interest as it’s earned, only when you withdraw it.

Option for Lifetime Income

You can choose to receive guaranteed payments over a specified amount of time or for the rest of your life.

Purchasing WealthLock MYGA is EASY


Choose your initial amount.3


Select the length of your contract.


Relax and watch your money grow.

Included Features

MYGAs often provide additional features so your contract can work best for you and your loved ones. Below are the major highlights. Find more details about these – and other – features here.

Access to Your Funds

Having access to your funds can give you the peace-of-mind you need. You can withdraw up to 5% of your cash value each year free of charge – after the first year – to help cover the unexpected. You can also withdraw from your tax-qualified IRA any RMD required by the IRS after 30 days, even if it exceeds the free withdrawal amount.

Leaving a Legacy

If the unexpected does occur, knowing where your money goes is important. Our WealthLock MYGA can give you the security you need in case something were to happen to you. It pays the full contract value directly to your beneficiaries without the delays and costs associated with probate, letting your family focus on the things that matter most.

Additional Benefits

Protecting you and your family is important. Our WealthLock MYGA gives you access to 100% of your contract value – after the first year – in the event you are confined to a nursing home or diagnosed with a terminal illness.

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The Power of Tax-Deferred Growth

There's power with a WealthLock MYGA – you don’t pay any taxes on your earned interest until you withdraw money. That can be a great benefit to you.

Simply put, you earn additional value by not paying taxes until the end of your contract. This allows your contract value to grow faster when compared to taxable income returns.

Let's break it down.

Here's an example. An investment with a tax-deferred rate of 4.00% would require a taxable rate of return of 5.26% to equal the same amount of growth.

As interest is compounded on your annuity, it’s based on its current value. Taxable investments have to pay taxes each year to the IRS, meaning the amount left in the investment that builds interest is lower after each tax payment. Deferring taxes means your interest grows on the whole amount, and taxes don’t come out until the end of your term.


The hypothetical example assumes an initial premium investment of a marginal $100,000 into both a tax-deferred investment, with a 4% growth rate, and investment into a taxable account, with a 4% growth rate.

The tax bracket is assumed to be 24%. Actual taxes will be paid at the individual’s ordinary income rate for the tax year at the end of the contract period or upon early withdrawal.

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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.

WealthLockSM MYGA 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. WealthLockSM 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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