Why it earned this rating
Our assessment
Offers a useful customization element — the choice between two withdrawal features — that most MYGAs do not provide. However, the tradeoff of a lower rate when you add a withdrawal feature keeps it slightly below the top of its peer group.
The short version
If you want a MYGA with more control over how you access your money during the guarantee period, the Synergy Choice MYGA gives you options that most competitors do not. The interest-only withdrawal feature is particularly useful for retirees who want regular income from their MYGA without touching principal. What keeps it from being a standout is that the rate reduction for adding a withdrawal feature may offset the benefit, and the carrier's youth remains a consideration.
Key facts
The full review
Is Aspida Synergy Choice MYGA a Good Annuity?
Yes, for buyers who value the withdrawal feature customization. This is a good MYGA for someone who wants to tailor their liquidity access — particularly the interest-only withdrawal option for regular income. It is less appealing if the rate reduction for adding a withdrawal feature makes it uncompetitive with simpler MYGAs that include free withdrawals by default.
Why Someone Would Buy This Annuity
The main reason to buy the Synergy Choice MYGA is the ability to choose a withdrawal feature that matches your needs. If you want to receive regular interest payments without touching principal, the Free Interest Withdrawal option lets you do that starting 30 days after issue. If you prefer the standard 10% annual free withdrawal, you can choose that instead. The secondary reason is the same as any MYGA — guaranteed interest, principal protection, and tax-deferred growth.
Who This Annuity Is Best For
I think the Synergy Choice MYGA is best for someone who specifically wants the interest-only withdrawal feature — a retiree who wants predictable income from their MYGA while preserving the full principal for a future need. It is also reasonable for someone who wants the 10% free withdrawal option with RMD-friendly treatment on qualified contracts. It is less suited for someone who just wants the highest possible guaranteed rate and does not need the withdrawal customization, because the rate reduction may make other MYGAs more competitive.
What You're Really Buying Here
You are buying a guaranteed interest rate for a fixed period, just like any MYGA, but with an added layer of choice about how you access your money. The core product is identical in structure to most MYGAs — principal protection, guaranteed rate, tax deferral. The differentiation is the optional withdrawal feature, which is a modest but meaningful customization.
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. After the guarantee period ends, the rate resets annually but will not fall below the minimum guaranteed rate in the contract.
The twist is the optional withdrawal feature. You can add one of two features at issue: the Free Interest Withdrawal, which lets you take regular withdrawals of credited interest on a monthly, quarterly, semi-annual, or annual basis starting 30 days after issue; or the 10% Free Withdrawal, which lets you withdraw up to 10% of contract value each year after the first anniversary. Adding either feature reduces your guaranteed interest rate.
Why the Secondary Feature Matters
The death benefit is standard but important — full contract value with no surrender charges or MVA, paid directly to beneficiaries and typically avoiding probate. This is consistent across Aspida's product line and is a meaningful feature for anyone concerned about legacy planning.
The MVA works both ways. If interest rates have risen since purchase, excess withdrawals are reduced. If rates have fallen, the MVA adds to your withdrawal. The MVA does not apply to annuitization or the minimum guaranteed surrender value.
Liquidity and Surrender Schedule
Liquidity depends on which withdrawal feature you choose. With no withdrawal feature, you have no penalty-free access until the guarantee period ends (except RMDs on qualified contracts). With the Free Interest Withdrawal, you can take credited interest regularly starting after 30 days. With the 10% Free Withdrawal, you get standard annual access to 10% of contract value after year 1, plus RMD-friendly treatment on qualified contracts.
The surrender schedule is identical to the WealthLock MYGA: **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%**.
Fees and Tradeoffs
There are no annual fees or explicit charges. The cost of the withdrawal feature is a reduced guaranteed interest rate — the exact reduction depends on current rates and the term you select. This is a structural tradeoff: you get more liquidity flexibility, but you earn less interest. For some buyers, the flexibility is worth the rate reduction. For others, a higher rate on a simpler MYGA is the better deal.
Product snapshot
| Feature | Details |
|---|---|
| Product type | Multi-year guaranteed annuity (MYGA) |
| Guarantee periods | 2, 3, 5, or 7 years |
| Issue ages | 18–90 |
| Minimum premium | $25,000 |
| Maximum premium | $2,000,000 |
| Optional withdrawal features | Free Interest Withdrawal or 10% Free Withdrawal |
| 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 |
| RMD access | After 30 days with 10% Free Withdrawal option |
| Plan types | Non-Qualified, Traditional IRA, Roth IRA |
| Annual fees | None |
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 Synergy Choice MYGA is a thoughtfully designed MYGA that gives buyers more control over their liquidity than most competing products. The optional withdrawal features are a genuine differentiator, particularly the interest-only option for retirees who want regular income without depleting principal. The main caution is that the rate reduction for adding a withdrawal feature may make simpler MYGAs more competitive on pure rate, and the carrier's limited operating history is a consideration for conservative buyers.
For someone who values the withdrawal customization and finds competitive rates even after the feature adjustment, this is a solid option. For someone who just wants the highest guaranteed rate, a simpler MYGA may be the better choice.