Why it earned this rating
Our assessment
The Synergy Choice MYGA 5-Year offers the highest base rate in Aspida's agent-distributed 5-year MYGA lineup, exceeding the WealthLock MYGA 5-Year. The structural tradeoff is the absence of waivers, which is a meaningful real-world limitation for buyers in their 60s and 70s. The product earns a Good Option rating because the rate is genuinely strong for the category, but the waiver gap prevents a higher score.
The short version
For buyers who want the best available 5-year base rate in the Aspida agent-channel lineup and can genuinely commit the capital for 5 years without needing emergency access, the Synergy Choice MYGA 5-Year is the rate leader. Buyers who need waiver coverage or are in their 70s should compare the WealthLock MYGA 5-Year despite the lower rate.
Key facts
The full review
Is Aspida Synergy Choice MYGA 5-Year a Good Annuity?
Yes, for the right buyer. The base rate of 5.30% for premiums at or above $100,000 is strong for a 5-year agent-channel MYGA. Buyers who can commit the capital and do not require waiver provisions will find this competitive. Buyers over 70 or anyone who might face health changes over 5 years should factor in the absence of waivers carefully.
Why Someone Would Buy This Annuity
The rate. At 5.30% for 5 years, the Synergy Choice MYGA 5-Year leads the agent-channel Aspida MYGA lineup and is competitive with many 5-year MYGAs available in the broader market. For buyers who are rate-motivated and can genuinely commit without needing emergency access provisions, this is a compelling guaranteed accumulation vehicle.
Who This Annuity Is Best For
A buyer in their 50s to mid-60s working with a Market Synergy Group agent who has a genuine 5-year capital horizon and prioritizes rate over emergency access provisions. I think this is less appropriate for buyers in their late 60s and 70s who have a realistic probability of health changes over 5 years and would benefit from waiver provisions. For those buyers, the WealthLock MYGA 5-Year with waivers is the better structural fit even at a lower rate.
What You're Really Buying Here
A 5-year guaranteed rate with daily compounding, tax deferral, and principal protection through an independent agent channel. The death benefit pays full contract value outside probate. No standard free withdrawal provision and no emergency access waivers on the base contract.
How the Core Feature Works
The rate of 5.30% (at or above $100K) or 5.15% (below $100K) is locked for 5 full years, compounded daily. After 5 years, the rate resets but never falls below 3.00%. If the optional 10% free withdrawal rider is added at issue, the credited rate is reduced by 0.20%, yielding an effective base rate of 4.95% (under $100K) / 5.10% (at or above $100K) — still competitive with the WealthLock MYGA 5-Year that includes this provision as standard.
Why the Secondary Feature Matters
Principal protection eliminates the rate sensitivity that affects bond funds during the 5-year period. Tax deferral is meaningful at this duration, particularly for buyers in higher brackets where a taxable CD alternative would reduce accumulation. The death benefit provides estate planning efficiency. These are the secondary reasons to choose this product; the primary reason is always the rate.
Liquidity and Surrender Schedule
Base contract: no free withdrawal provision. Excess withdrawals subject to: 9%, 8%, 7%, 6%, 5%, then 0%, plus MVA. Optional riders at issue: (1) 10% Free Withdrawal rider (available after the first anniversary, reduces credited rate by 0.20%); (2) Free Interest Withdrawal rider (systematic interest-only withdrawals after 30 days, reduces credited rate by 0.10%). RMDs from qualified accounts are available after 30 days if the 10% withdrawal rider is elected.
Fees and Tradeoffs
No annual contract fee. No rider charges — optional riders reduce the credited rate rather than charging separately. No nursing home or terminal illness waivers at any election — this is the main structural gap. For a 5-year commitment, this is a meaningful practical consideration. The base rate lead over the WealthLock MYGA 5-Year (approximately 25 basis points at the high band) is real but must be weighed against the absence of emergency access provisions.
Product snapshot
| Feature | Details |
|---|---|
| Product type | Multi-Year Guaranteed Annuity (MYGA) |
| Guarantee period | 5 years |
| Issue ages | 18–90 |
| Minimum premium | $25,000 |
| Maximum premium | $2,000,000 |
| Current rate (base) | 5.15% / 5.30% (under / at or above $100K) |
| Minimum guaranteed rate | 3.00% |
| Free withdrawal (base) | None |
| Optional 10% withdrawal rider | Yes, at issue; reduces rate by 0.20% |
| Optional interest withdrawal | Yes, at issue; reduces rate by 0.10% |
| Surrender schedule | 9% / 8% / 7% / 6% / 5% / 0% |
| MVA | Yes, on excess withdrawals |
| Death benefit | Full contract value (no surrender charges or MVA) |
| Nursing home waiver | None |
| Terminal illness waiver | None |
| Plan types | NQ, Roth IRA, SEP IRA, SIMPLE IRA, 403(b), 457(b), Traditional IRA |
| Distribution | Independent agents via Market Synergy Group |
| State note | Not available in NC or NY |
Carrier snapshot
Aspida Life Insurance Company: A- from AM Best, A- from KBRA. Backed by Ares Management with approximately $546 billion AUM. Founded 2020, Durham, NC.
Final take
The Synergy Choice MYGA 5-Year is the rate leader in Aspida's agent-channel 5-year MYGA offerings. For buyers who understand the structural tradeoffs and genuinely have a 5-year capital horizon without needing emergency access, this is a compelling option. The absence of waivers limits the audience — buyers in their late 60s and 70s should weigh this carefully.