Why it earned this rating
Our assessment
Provides a clean, straightforward MYGA designed for the advisory channel. The features are standard and well-executed, but the carrier's youth and lack of distinguishing features beyond the advisory distribution model keep it from a higher score.
The short version
If you work with a fee-based financial advisor and want a MYGA, the Aspida Advisory MYGA is worth comparing to other advisory-channel MYGAs. The product design is standard and clean, and the advisory distribution model means the rate you see is not reduced by embedded commissions. What keeps it from standing out is that the features are identical to what you would find in most MYGAs, and the carrier's limited operating history is a factor.
Key facts
The full review
Is Aspida Advisory MYGA a Good Annuity?
Yes, for clients working with fee-based advisors. This is a solid MYGA that delivers the standard features you would expect — guaranteed interest, principal protection, and tax-deferred growth — through an advisory-channel distribution model. It is not available through traditional insurance agents, so it is only relevant if you work with an RIA or fee-based advisor.
Why Someone Would Buy This Annuity
The main reason to buy the Aspida Advisory MYGA is that your fee-based advisor has identified it as offering a competitive rate for your chosen term. In the advisory channel, MYGA rates can sometimes be higher than commission-based products because there are no embedded commission costs. The secondary reason is the same as any MYGA — guaranteed interest, principal protection, and tax-deferred growth for a defined period.
Who This Annuity Is Best For
I think the Aspida Advisory MYGA is best for someone who already works with a fee-based financial advisor and wants to add a MYGA to their portfolio. It is a straightforward product that does not require extensive explanation or complex decision-making. It is less relevant for someone who works with a traditional insurance agent (who would use the WealthLock MYGA or Synergy Choice MYGA instead) or for someone who wants features beyond a basic MYGA.
What You're Really Buying Here
You are buying the same thing as any MYGA — a guaranteed interest rate for a fixed period with principal protection. The only difference is the distribution channel. The advisory model means your advisor charges you a separate fee for their services, and the product rate is not reduced by embedded commissions. Whether the net result (rate minus advisor fee) is better than a commission-based MYGA depends on the specific rates and your advisor's fee structure.
How the Core Feature Works
You choose a guarantee period — 2, 3, 5, or 7 years — and your premium earns a fixed interest rate for that entire period. The rate is set at purchase and does not change during the guarantee period. Interest compounds tax-deferred. After the initial guarantee period ends, the rate resets annually but will never fall below the minimum guaranteed rate stated in the contract. You can also convert your contract into guaranteed income payments through annuitization after 12 months.
Why the Secondary Feature Matters
The nursing home and terminal illness waivers provide access to 100% of contract value without surrender charges or MVA after the first contract anniversary, provided you meet the eligibility requirements. These are standard MYGA features but important safety nets. The nursing home waiver requires confinement for at least 90 consecutive days, and the terminal illness waiver requires a diagnosis of terminal illness expected to result in death within one year.
The death benefit pays the full contract value with no surrender charges or MVA directly to beneficiaries, typically avoiding probate. This is consistent across all Aspida MYGA products.
Liquidity and Surrender Schedule
You can withdraw up to 10% of cash value each year after the first anniversary without charges. RMDs from qualified accounts are available after 30 days, free of charges. Amounts above the free withdrawal are subject to surrender charges and a market value adjustment.
The surrender schedule is: **2-Year: 9% / 8% / 0%**. **3-Year: 9% / 8% / 7% / 0%**. **5-Year: 9% / 8% / 7% / 6% / 5% / 0%**. **7-Year: 9% / 8% / 7% / 6% / 5% / 4% / 3% / 0%**. These are identical to the other Aspida MYGAs.
Fees and Tradeoffs
There are no annual fees, no rider fees, and no explicit product charges from Aspida. However, your fee-based advisor will charge their own advisory fee separately. The net return on this product is the guaranteed rate minus your advisor's fee, which is an important calculation to make when comparing to commission-based MYGAs where the commission cost is embedded in the rate.
The MVA is the main structural tradeoff, working the same way as on the other Aspida MYGAs — positive if rates have fallen since purchase, negative if rates have risen.
Product snapshot
| Feature | Details |
|---|---|
| Product type | Multi-year guaranteed annuity (MYGA) |
| Distribution channel | Fee-based advisory (RIA) |
| Guarantee periods | 2, 3, 5, or 7 years |
| Issue ages | 18–90 |
| Minimum premium | $25,000 |
| Maximum premium | $2,000,000 |
| Free withdrawals | 10% of cash value after year 1 |
| Surrender schedule (7-yr) | 9% / 8% / 7% / 6% / 5% / 4% / 3% / 0% |
| Surrender schedule (5-yr) | 9% / 8% / 7% / 6% / 5% / 0% |
| Surrender schedule (3-yr) | 9% / 8% / 7% / 0% |
| Surrender schedule (2-yr) | 9% / 8% / 0% |
| Market value adjustment | Yes |
| Death benefit | Full contract value, no charges |
| Waivers | Nursing home, terminal illness |
| RMD access | Free of charges after 30 days |
| Plan types | Non-Qualified, Traditional IRA, Roth IRA |
| Annual fees | None from Aspida (advisor fee separate) |
Carrier snapshot
Aspida Life Insurance Company is headquartered in Durham, North Carolina, and was founded in 2021. The company carries an A.M. Best rating of A- (Excellent) and a KBRA rating of A-, with a Comdex score of 57. Aspida is backed by Ares Management Corporation, which manages approximately $623 billion in assets. Aspida has approximately $30 billion in total assets and is licensed in 49 states (excluding New York) and the District of Columbia.
Final take
The Aspida Advisory MYGA is a clean, standard MYGA designed for the fee-based advisory channel. It does not try to be anything more than what it is — a guaranteed interest product with principal protection and standard features. For clients working with RIAs who find competitive rates on this product, it is a solid option.
The main cautions are the carrier's limited operating history and the need to factor in your advisor's fee when comparing to commission-based alternatives. The product itself is well-executed, but the value proposition depends heavily on the rate being competitive after accounting for advisory fees.