Why it earned this rating
Our assessment
Apex Control 7-Year earns the highest rating in the Apex Control family because the seven-year guarantee period typically funds the strongest current rates, and the surrender curve has more time to step down (ending at 2% in year seven before dropping to zero).
The short version
For a buyer who wants tax-deferred fixed-rate growth, can comfortably commit for seven years, and prefers a buyer-friendly contract structure with renewal flexibility, Apex Control 7-Year is the strongest member of the family. What makes it appealing is the typically higher rate, the gentler surrender curve than competing 7-year MYGAs, and the 1-year renewal default that builds an exit window into the contract.
Key facts
The full review
Is Delaware Life Apex Control 7-Year a Good Annuity?
Yes, for the right buyer. This is a good annuity for someone who wants principal-protected fixed-rate growth over seven years from a brand-name carrier with a buyer-friendly surrender curve and renewal flexibility. It is less appealing for buyers who need shorter-term liquidity or who want lifetime income.
Why Someone Would Buy This Annuity
The main reason to buy Apex Control 7-Year over the 5-year version is rate — seven-year MYGAs almost always credit better rates because the carrier has more time to amortize its hedging budget. The secondary reason is the longer rate-lock — in a falling-rate environment, a seven-year guarantee preserves your rate longer than a five-year contract that would need to renew sooner.
Who This Annuity Is Best For
I think this annuity is best for someone using truly long-term retirement money, who values rate competitiveness, and who can meet the $25,000 minimum. It is less attractive for buyers who might need access within five years, or for buyers who specifically want lifetime income from their annuity.
What You're Really Buying Here
You are buying a seven-year fixed-rate guarantee in a tax-deferred annuity wrapper. The Initial Guaranteed Rate is set at issue and applies for the full seven years. Apex Control's distinguishing structural features apply identically — gentler surrender curve than competing MYGAs, 1-year renewal default, ability to split premium across multiple guarantee periods at issue.
How the Core Feature Works
You make a single qualified or nonqualified premium payment between $25,000 and $1,000,000. The Initial Guaranteed Rate is declared at issue and locks in for seven years. Interest compounds within the contract. At the end of the seven years, you elect a new multi-year guarantee period (which resets the surrender period as applicable), a 1-year guarantee period, or surrender. The 1-year option is the default if you do nothing.
Why the Secondary Feature Matters
The most meaningful secondary feature is the **longer rate-lock**. In a falling-rate environment, a seven-year guarantee meaningfully outperforms a series of shorter-duration contracts that need to renew. The 1-year renewal default mechanic at term end works the same way as on the shorter siblings — elect a new multi-year guarantee, a 1-year guarantee (default), or surrender, all without surrender charges during the 1-year option.
Liquidity and Surrender Schedule
The 7-year surrender curve is 8%, 7%, 6%, 5%, 4%, 3%, 2%, then zero. The first-year free withdrawal is your guaranteed interest rate × premium (or RMD if greater); year 2+ is 10% of prior anniversary AV (or RMD if greater). MVA applies only to excess withdrawals during the multi-year guarantee period and is waived at death. Nursing home and terminal illness waivers can waive surrender charges after year 1 for qualifying conditions.
Fees and Tradeoffs
There are no contractual fees on Apex Control. The credited rate is the rate you earn. The MVA can move cash value up or down depending on the rate environment when you withdraw. The structural tradeoff is the seven-year commitment — that is a long time to lock money up, even with the relatively gentle 8% surrender start.
Product snapshot
| Feature | Details |
| --- | --- |
| Product type | Multi-year guaranteed annuity (fixed) |
| Initial guaranteed period | 7 years |
| Surrender period | 7 years |
| Issue ages | 18-85 |
| Minimum premium | $25,000 |
| Maximum premium | $1,000,000 per owner without prior approval |
| Plan types | Nonqualified, IRA, SEP-IRA, Roth IRA |
| Withdrawal charge schedule | 8 / 7 / 6 / 5 / 4 / 3 / 2 / 0 |
| Free withdrawals year 1 | Rate × premium, or RMD if greater |
| Free withdrawals year 2+ | 10% of prior anniversary AV, or RMD if greater |
| MVA | Yes, during multi-year guarantee period; waived at death |
| Systematic withdrawals | Annual, semiannual, quarterly, or monthly; $100 minimum, $5,000 minimum AV |
| Annuitization | Maximum age 100; single life, single life with period certain, joint and survivor |
| Nursing home waiver | Available after year 1; issue age cap 75 |
| Terminal illness waiver | Available after year 1; issue age cap 69 |
| Death benefit | Greater of account value or surrender value |
| Renewal default | 1-year guarantee at then-current rate (no surrender charge or MVA) |
| Income rider | Not offered |
Carrier snapshot
Apex Control 7-Year is issued by Delaware Life Insurance Company, headquartered in Zionsville, IN. Delaware Life is a mid-sized U.S. annuity carrier that is part of Group 1001.
Final take
Apex Control 7-Year is the strongest member of the Apex Control family for buyers who can commit for seven years. The longer guarantee typically funds the family's best rate, the surrender curve has the most time to step down (ending at 2% in year seven before dropping to zero), and the same structural advantages that distinguish the family from competing MYGAs apply. The honest caution is the seven-year commitment itself — that is a real lock-up. For buyers prioritizing rate and flexibility, this is a strong option in its peer group.