Ibexis MYGA Plus 3 (w/ liquidity)
Product Overview
Brochure: View
$100,000+: 4.90% Simple (4.68% Compounded Equivalent)
$0 - $99,999: 4.45% Simple (4.27% Compounded Equivalent)
-23bps Effective: 10/03/2024
Basic Features
| Feature | Details |
|---|---|
| Product Name | Ibexis MYGA Plus 3 (w/ liquidity) |
| Insurer | Ibexis Life & Annuity Insurance Company |
| Ratings |
|
| Agent/Broker | PlanEasy Inc. |
| Annuity Type | Multi-Year Guaranteed Annuity (MYGA) |
| Term | 3 Years |
| Current Rate for $100,000+ | 4.90% Simple (4.68% Compounded Equivalent) |
| Current Rate for $0 - $99,999 | 4.45% Simple (4.27% Compounded Equivalent) |
| Last Rate Change | 10/03/2024, -21bps |
| Interest Type | Simple Interest |
| State Availability | AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TX, UT, VA, WV, WI, WY |
| Free Withdrawals |
|
| Free RMDs | Yes |
| Death Benefit | Yes |
| MVA | Yes |
| Nursing Home Waiver | Yes |
| Terminal Illness Waiver | Yes |
| Surrender Charge by Year | 9.0%, 8.0%, 7.0% |
| Funding Sources | Personal Investment, Cash, Traditional IRA, Roth IRA, SEP IRA, Pension |
| Terms Available | 3, 5, 7 Years |
| Age Restrictions | 0 to 85 Years Old |
Quick Summary
The Ibexis MYGA Plus 3 (w/ liquidity) is a 3-year Multi-Year Guaranteed Annuity (MYGA) issued by Ibexis Life & Annuity Insurance Company and sold through PlanEasy Inc., a national online annuity agency.
Earn a guaranteed simple interest rate on this fixed annuity:
Your simple rate is locked in for 3 years, ensuring predictable, tax-deferred growth.
This fixed annuity is a strong alternative to bank CDs, offering stable returns with tax-deferred benefits.
The product has no free withdrawals in year 1 and 10% free withdrawals in year 2+.
Withdrawals for RMDs are free.
There is also a traditional accumulated account value death benefit for your beneficiaries.
Earn a guaranteed simple interest rate on this fixed annuity:
- 4.90% Simple for $100,000+ (4.68% compounded equivalent)
- 4.45% Simple for $0 - $99,999 (4.27% compounded equivalent)
Your simple rate is locked in for 3 years, ensuring predictable, tax-deferred growth.
This fixed annuity is a strong alternative to bank CDs, offering stable returns with tax-deferred benefits.
The product has no free withdrawals in year 1 and 10% free withdrawals in year 2+.
Withdrawals for RMDs are free.
There is also a traditional accumulated account value death benefit for your beneficiaries.
Key Details
- Ratings: Ibexis Life & Annuity Insurance Company is rated A- by A.M. Best.
- Guaranteed Rates: 4.90% Simple (4.68% Compounded Equivalent) for premiums of $100,000+. 4.45% Simple (4.27% Compounded Equivalent) for premiums of $0 - $99,999. This fixed guaranteed rate ensures predictable tax-deferred growth, making it an excellent alternative to bank CDs.
- Term: The interest rate is guaranteed for 3 years with a surrender charge schedule of the same duration.
- Free Withdrawals: Yes, there is liquidity as the product allows for 10% in year 2+ that do not incur any surrender charges.
- RMDs: Yes, RMDs can be taken out without penalty.
- Age Eligibility: Available for owners between 0 to 85 years old.
- Minimum Premium: Investors can contribute a minimum of $0
- Death Benefit: Yes, the product has a traditional death benefit of the annuity's accumulation value, available to the beneficiary with no surrender charges.
- Market Value Adjustment (MVA): Yes, the MVA is applicable to any withdrawals that also incur surrender charges.
- Nursing Home Waiver: Yes, if the owner is confined to a nursing home per the definition in the contract, surrender charges and MVAs are waived.
- Terminal Illness Waiver: Yes, if the owner is terminally ill as defined in the contract, surrender charges and MVAs are waived.
Current & Historical 3-Year Rates
| Premium Band | Effective Date | Guaranteed 3-Year Yield to Surrender |
|---|---|---|
| $100,000+ | 10/03/2024 | 4.68% | 4.90% Simple |
| 08/29/2024 | 4.91% | 5.15% Simple | |
| 08/08/2024 | 5.13% | 5.40% Simple | |
| 07/04/2024 | 5.22% | 5.50% Simple | |
| $0 - $99,999 | 10/03/2024 | 4.27% | 4.45% Simple |
| 08/29/2024 | 4.45% | 4.65% Simple | |
| 08/08/2024 | 4.91% | 5.15% Simple | |
| 07/04/2024 | 5.00% | 5.25% Simple |
Available Terms & Current Rates
| Premium Band | Term | Guaranteed Yield to Surrender |
|---|---|---|
| $100,000+ | 3 | 4.68% | 4.90% Simple |
| 5 | 4.86% | 5.35% Simple | |
| 7 | 4.91% | 5.70% Simple | |
| $0 - $99,999 | 3 | 4.27% | 4.45% Simple |
| 5 | 4.44% | 4.85% Simple | |
| 7 | 4.53% | 5.20% Simple |