(Image source: Ibexis homepage.)
Ibexis Life & Annuity Insurance Company (Jefferson, Mo.) has launched the MYGA Plus fixed annuity designed to provide clients with the flexibility to choose between two fixed rates that are each guaranteed for the initial duration of the product.
One option offered with the MYGA Plus fixed annuity is to earn a traditional guaranteed fixed rate that pays a competitive fixed interest every day. The second option is to allocate to a “Plus Bucket,” an indexed linked option that pays a higher fixed rate every year if the S&P 500 Index increases. If the index increases that year (no matter how much), the client earns the full guaranteed fixed rate for this option.
“As clients seek stability in volatile markets and insurers offer higher crediting rates, we believe fixed annuities are a very attractive product for individuals that desire financial security during retirement,” comments Nate Gemmiti, CEO, Ibexis.
“Product innovation in the fixed rate annuity segment has been historically limited,” notes Ryan Lex, Chief Distribution Officer, Ibexis. “With the launch of the MYGA Plus, clients can now choose between two attractive fixed rates, including the higher earnings potential of the ‘Plus Bucket.’”