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fixed annuities

Multi-Year Guarantee Annuity Details

Product Name

MYGA Plus 3

Annuity Type

Multi-Year Guarantee Annuity

Issuing Insurance Company and Ratings

(4th of 15 ratings)
Not Rated
Not Rated
Not Rated
Not Ranked

Product Information

The MYGA Plus 3 is a deferred multi-year guarantee annuity issued by Ibexis Life & Annuity Insurance Company.

This annuity is a premium banded product. The interest rate you earn will vary depending on the amount of premium you deposit (see Rate Details below). Currently, the highest 3 year guarantee period annual yield is 5.72% on premium amounts of $100,000 - $1,500,000.  This is the guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window. The MYGA Plus 3 has a full penalty free withdrawal window after 3 years.

During the time in which the annuity is subject to surrender penalties, there are policy provisions that allow partial access on a penalty free basis. Beginning in the second contract year, this annuity provides up to 10% (noncumulative) of the contract value as the penalty free withdrawal amount that may be withdrawn from the annuity each contract year.

This annuity also waives withdrawal penalties upon death. Your named beneficiary(ies) will receive a death benefit equal to the full accumulation value. A beneficiary may choose to receive their death benefit in either a lump sum or select an available annuitization option.

Details on additional penalty waivers can be found in the Penalty Free Withdrawal Provisions section below.

Ibexis Life & Annuity Insurance Company is rated “A-” by A.M. Best, was founded in 1937, and has over $164 million in total assets.

Rate Details

Premium Amount: $100,000 - $1,500,000 High-Band

3 Year Guarantee Period Annual Yield: 5.72%
Simple interest rate start of year 1 through end of year 3: 6.05%

Premium Amount: $10,000 - $99,999 Low-Band

3 Year Guarantee Period Annual Yield: 5.18%
Simple interest rate start of year 1 through end of year 3: 5.45%

Initial Surrender Charge and MVA Periods

3 years

3 years

3 years

State variations may exist, refer to product disclosure for details.

Other Guarantee Periods Available

Policy Details

Penalty Free Withdrawal Provisions

Annuitization, Death, Extended Care and Terminal Illness

See product brochure, disclosure and riders for additional details, limitations and availability. State variations, age restrictions and holding periods may apply.

State Variations

Not available in:  AL, CA, FL, NH, NJ, NY, TN, VT and WI (as of 10/01/2022)


The MYGA Plus offers 2 ways to earn interest:

1) Multi-Year Guaranteed Fixed Option: A Multi-Year Guaranteed Fixed Option (MYGA) that pays an annual rate of SIMPLE interest that is guaranteed for the term of the annuity.

2) Index-Linked Option: An Index-Linked Option that pays a higher rate of interest than the Fixed Option, if the selected index value is higher than the previous years value.

Once the term is selected, these two options can be allocated to in any combination, up to a 50% maximum allocation in the Index-Linked option. Once selected, those allocations cannot change. The rates for both options are guaranteed for the duration of the term. Regardless of which option (or combination of options) clients choose, they can never lose any of their principal due to market or interest rate fluctuations since MYGA Plus is completely principal guaranteed.