Why it earned this rating
Our assessment
The WealthLock MYGA 3-Year is a competent middle-duration product in the commission channel with solid rates, included waivers, and a credible carrier. Rate comparison at the time of purchase is the key discipline.
The short version
The WealthLock MYGA 3-Year earns consideration for agent-channel buyers who want a 3-year commitment with principal protection and emergency waiver coverage. Rate comparison at the time of purchase is essential in this category.
Key facts
The full review
Is Aspida WealthLock MYGA 3-Year a Good Annuity?
Yes, for the right buyer and at a competitive rate. The structure is solid and the carrier is credible. Rate comparison matters in the 3-year MYGA space. For buyers working with WealthVest-contracted agents, this is a reasonable option if the rate is competitive at the time of purchase.
Why Someone Would Buy This Annuity
A defined 3-year guaranteed rate with principal protection through an agent relationship. The waivers provide real emergency access. The death benefit structure provides estate planning simplicity for older buyers.
Who This Annuity Is Best For
An agent-channel buyer in their 60s or early 70s with a 3-year capital horizon, who values principal protection, waiver coverage, and the simplicity of a guaranteed rate. Less appropriate for buyers who can access the Advisory MYGA or who need flexible liquidity.
What You're Really Buying Here
A 3-year locked rate with daily compounding, tax deferral, principal protection, and waiver provisions. At the end of 3 years, full contract value is accessible without penalty.
How the Core Feature Works
The current rate is 4.35% at $100,000 or more and 4.20% below that, locked for 3 full years. After the guarantee period, the rate resets but never falls below 3.00%.
Why the Secondary Feature Matters
Principal protection and the waiver features. The nursing home and terminal illness provisions give buyers an important safety valve if health circumstances change during the 3-year period, which is a meaningful practical benefit for older buyers.
Liquidity and Surrender Schedule
10% free withdrawal annually after the first anniversary. Surrender schedule: 9%, 8%, 7%, then 0%. MVA applies to excess withdrawals. Waivers available after first anniversary. Systematic interest withdrawals available after 30 days.
Fees and Tradeoffs
No annual fees. No rider charges. Commission embedded in the spread. Rate is lower than the Advisory version by approximately 45 basis points, which is the cost of the commission model.
Product snapshot
| Feature | Details |
|---|---|
| Product type | Multi-Year Guaranteed Annuity (MYGA) |
| Guarantee period | 3 years |
| Issue ages | 18–90 |
| Minimum premium | $25,000 |
| Maximum premium | $2,000,000 |
| Current rate | 4.20% / 4.35% (under / at or above $100K) |
| Minimum guaranteed rate | 3.00% |
| Free withdrawal | Up to 10% after year one |
| Surrender schedule | 9% / 8% / 7% / 0% |
| MVA | Yes, on excess withdrawals |
| Death benefit | Full contract value |
| Nursing home waiver | Yes, after first anniversary |
| Terminal illness waiver | Yes, after first anniversary |
| Plan types | NQ, Roth IRA, SEP IRA, SIMPLE IRA, 403(b), 457(b), Traditional IRA |
| Distribution | Independent agents and banks via WealthVest |
| 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. Licensed in 49 states and DC (excluding New York). Founded 2020, Durham, NC.
Final take
The WealthLock MYGA 3-Year is a competent product for the agent channel. Rate comparison at purchase time is the most important buyer discipline in this category. The structural features — waivers, death benefit, tax deferral — add real value beyond the rate number.