Ohio State Life Nex MYGA 5 (w/ liquidity)

Product Overview

Brochure: View
$0+: 5.05%
Affirmed: 3/1/2025

Basic Features

FeatureDetails
Product Name Ohio State Life Nex MYGA 5 (w/ liquidity)
Insurer The Ohio State Life Insurance Company
Ratings
  • A.M. Best: B+
  • Rating Date: 2/2023
Agent/Broker PlanEasy Inc.
Annuity Type Multi-Year Guaranteed Annuity (MYGA)
Term 5 Years
Current Rate for $0+ 5.05%
Last Rate Change 3/1/2025, Affirmed
Interest Type Compound Interest
State Availability AL, AK, AZ, AR, CA, CO, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, WA, WV, WI, WY
Free Withdrawals
  • Year 1: None
  • Year 2+: 10%
Free RMDs No
Death Benefit Yes
MVA Yes
Nursing Home Waiver No
Terminal Illness Waiver No
Surrender Charge by Year 9.0%, 8.0%, 7.0%, 6.0%, 5.0%
Funding Sources Personal Investment, Cash, Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, Pension
Terms Available 3, 5, 7, 10 Years
Age Restrictions 0 to 85 Years Old

Quick Summary

The Ohio State Life Nex MYGA 5 (w/ liquidity) is a 5-year Multi-Year Guaranteed Annuity (MYGA) issued by The Ohio State Life Insurance Company and sold through PlanEasy Inc., a national online annuity agency.Earn a guaranteed compound interest rate on this fixed annuity:
  • 5.50% for $0+
Your compound rate is locked in for 5 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 subject to surrender charges.There is also a traditional accumulated account value death benefit for your beneficiaries.

Key Details

  • Ratings: The Ohio State Life Insurance Company is rated B+ by A.M. Best.
  • Guaranteed Rates: 5.05% for premiums of $0+. This fixed guaranteed rate ensures predictable tax-deferred growth, making it an excellent alternative to bank CDs.
  • Term: The interest rate is guaranteed for 5 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: No, RMDs are not free, unless part of any available free withdrawals.
  • 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: No, there is no nursing home waiver.
  • Terminal Illness Waiver: No, there is no terminal illness waiver.

Current & Historical 5-Year Rates

Premium BandEffective DateGuaranteed 5-Year Yield to Surrender
$0+ 3/1/2025 5.05%
11/20/2024
6/1/2024 4.80%
3/15/2024 5.30%

Available Terms & Current Rates

Premium BandTermGuaranteed Yield to Surrender
$0+ 3 5.05%
5
7 4.55%
10