Multi-Select 6 review

Yes, for the specific buyer who wants a six-year rate lock and has already decided a MYGA fits their plan. What makes it more interesting than "just another MYGA" is that it happens to be the top rate in its own carrier's product family right now — 5.55%, versus 4.75% at 3 years, 5.10% at 4 years, 5.20% at 5 years, and then declining again at 5.45% (7 years), 5.20% (8 years), 5.10% (9 years), and 5.15% (10 years). If a shopper is choosing between Oxford Life's own durations, the math currently favors this one. It's a weaker fit for someone who might need the money back inside six years, since both a surrender charge and an MVA can apply.

The rational reason to buy Multi-Select 6 is the rate itself. A guaranteed 5.55% for six years, with no cap, no participation rate, and no index risk, is a competitive locked-in return for conservative money. Someone with a six-year time horizon who wants certainty rather than market exposure — and who has already ruled out shorter or longer Oxford Life terms because this one currently pays more — has a straightforward reason to choose it. It also fits someone who wants the option to add lifetime income later without being forced to buy that rider up front.

I think this is best suited to buyers in their late 50s through 70s with non-qualified or qualified money they don't need for six years, who are comparing MYGA rates across carriers and durations and want simplicity over complexity. It works for both IRA and non-qualified premium. It is not a good fit for anyone who wants access to a large chunk of principal before year six, or who wants a shorter commitment even at a slightly lower rate — the 3-, 4-, or 5-year versions of this same product exist for that trade-off, just at lower guaranteed yields right now.

Strip away the "Multi-Select" branding and this is a deposit-and-forget contract: you hand Oxford Life a lump sum, they guarantee a fixed interest rate for six years, and your account value grows on a tax-deferred basis until you take it out. There's no crediting strategy to evaluate, no index to track, and no annual reset risk — the rate declared at issue is the rate for the full term. The only real decision points are whether six years is the right lockup for your money and whether you want to layer on the optional income rider.

The core feature is the fixed-rate crediting itself: 5.55%, guaranteed for the full six-year term, applied against 100% of premium with no rate banding by deposit size — a $25,000 contract and a $500,000 contract earn the same declared rate. That rate is set at issue and doesn't move with the index markets during the term the way a fixed indexed annuity's crediting can. At the end of the six years, Oxford Life opens a 30-day penalty-free window during which the owner can withdraw the full value or roll into a new guarantee period at whatever rate is then current — there's no automatic renewal at a stale rate without that choice point.

The secondary feature worth understanding is the optional Guaranteed Lifetime Withdrawal Benefit (GLWB) rider, priced at a 0.50% current annual charge (3.00% maximum), deducted from account value whether or not you ever take an income withdrawal. This isn't a roll-up rider — Wink's current data shows no benefit-base bonus and no roll-up mechanism. Instead, the payout is a fixed percentage table that rises with issue age and years deferred (for example, a single-life owner issued at 61 who defers to policy year seven locks in a 6.72% withdrawal factor). In plain terms: the account value itself doesn't get an artificial boost from this rider — what improves with deferral is the percentage of that value you're allowed to withdraw for life once you turn income on. That's a materially different (and more honest) structure than riders marketed around large "benefit base" bonuses that never touch cash value, and it's worth understanding before assuming the rider works the way GLWBs at other carriers do.

Six years is the commitment here, and the surrender schedule steps down in a clean, predictable pattern: 10%, 9%, 8%, 7%, 6%, 5% across the six contract years. Free withdrawals soften that somewhat — in year one you can take out interest earnings penalty-free, and from year two onward up to 10% of account value can come out each year without a surrender charge. Above those amounts, a market value adjustment (MVA) also applies during the surrender period, meaning the penalty can move with interest rates rather than being a fixed percentage alone. Nursing home, terminal illness, and home health care waivers can remove the surrender charge in a qualifying event (diagnosis must occur more than a year after the policy date, and availability varies by state), which is a meaningful safety valve but not a substitute for planning to keep this money locked up for the full term.

There is no base-contract fee on this product — no M&E charge, no administration fee, no annual contract charge — which is a real point in its favor relative to fee-layered fixed-indexed products. The only fee is the optional GLWB rider at 0.50% a year, and that fee only makes sense to pay if you're reasonably confident you'll eventually turn the income feature on; if you never annuitize under the rider, you've paid for a guarantee you didn't use. The account also carries a 1.00% guaranteed minimum annual return floor (the Minimum Guaranteed Surrender Value), though the available materials don't disclose the nonforfeiture premium base that rate applies against — a detail worth asking your agent for directly if the MGSV matters to your decision. The main non-fee tradeoff is the MVA: it's not a cost you pay upfront, but it can bite if you need to break the contract early during a period of rising rates.

Legal Entity: Oxford Life Insurance Company

A.M. Best Rating: A