Multi-Select 9 review

It depends on why a 9-year term is on the table. Judged purely as a rate-for-duration trade, this is a weak entry: locking up money for nine years should be compensated with a materially better rate than a four-year commitment, and here it isn't — both quote at 5.10%. Judged as a standalone product from a stable carrier with clean terms, it's perfectly serviceable. The honest read is that Oxford Life's own ladder gives a better deal one rung shorter or one rung longer.

The rational case for this specific rung is narrow: a buyer with a cash-flow need or liability landing in exactly nine years, someone already committed to Oxford Life for carrier-relationship reasons, or someone building a laddered portfolio who needs the 9-year slot filled regardless of where the single best rate sits. Outside those cases, the same dollars earn the same 5.10% at the 4-year mark, or a better 5.15%-5.20% at 8 or 10 years, from the same company.

Best suited to buyers in their 50s through mid-70s with qualified or non-qualified long-horizon savings who have a specific reason to want a 9-year term, not buyers doing simple side-by-side rate shopping. It also suits Oxford Life loyalists who value the A rating and have already decided to stay with the carrier. It is a poor fit for someone comparison-shopping the Multi-Select family itself, since four other rungs currently out-earn it.

Strip away the "Multi-Select" branding and this is a certificate-of-deposit-style contract: a fixed, guaranteed interest rate for a set number of years, tax-deferred, with an insurance-company guarantee instead of FDIC insurance. You're buying certainty of rate and protection of principal, not market upside. The number that matters is 5.10% for nine years — everything else here, including the optional income rider, the death benefit, and the MVA, is secondary to that core exchange of liquidity for a locked yield.

The Fixed Account Rate is declared at issue and guaranteed for the full nine-year surrender period at 5.10%, with no rate banding by premium size. At the end of the nine years, there's a 30-day window to walk away penalty-free or roll into a new guarantee period at whatever rate Oxford Life is then offering, with a fresh surrender schedule and MVA period attached to the renewal. That renewal risk — not knowing today what year 10 and beyond will pay — is standard for MYGAs of this length and isn't unique to Oxford Life, but it matters more the longer the initial term runs.

The optional GLWB (Guaranteed Lifetime Withdrawal Benefit) rider is worth understanding on its own terms because it doesn't work the way most income riders do. There's no roll-up rate that grows a separate benefit base. Instead, Oxford Life applies a Guaranteed Withdrawal Payment percentage — based on age and how long you've deferred, with separate Single Life and Joint Life tables — directly to your initial deposit. The 0.50% current charge (capped at 3.00%) is deducted from the account value annually whether or not income is ever turned on. Because it's optional and the base contract is priced and sold as an accumulation MYGA, adding it doesn't change the product's category, but a buyer who elects it should understand they're paying for a payout-percentage guarantee, not a growing benefit base.

Year one allows only interest earned to be withdrawn penalty-free. From year two on, up to 10% of account value can come out each year without a surrender charge. Withdrawals above that trigger the schedule below, starting at 10% in year one and stepping down to 2% by year nine — a straight nine-year commitment with no early exit ramp. A Market Value Adjustment also applies, so surrendering early can cost more or less than the stated schedule depending on how interest rates have moved since issue. Required minimum distributions get an MVA waiver on the amount that exceeds the free-withdrawal allowance, a meaningful accommodation for IRA holders who would otherwise face an MVA on distributions every year past 72.

There's no annual contract fee, product fee, or M&E charge on the base MYGA — the entire cost of ownership is the opportunity cost of locking in 5.10% for nine years. The only priced fee anywhere in this contract is the GLWB rider's 0.50% current / 3.00% maximum annual charge, and that only applies if it's elected. The real tradeoff isn't a fee line item, it's duration risk. Nine years is a long time to lock a rate that a 4-year Oxford Life contract already matches, and both the 8-year (5.20%) and 10-year (5.15%) siblings currently beat it. Worth flagging: the 9-year and 10-year rate snapshots come from Oxford Life's October 2025 Wink profile, while the 3-through-8-year siblings reflect an April 2026 snapshot, so this isn't a perfectly same-day comparison — but the gap is wide enough that it's unlikely to have fully closed.

Legal Entity: Oxford Life Insurance Company

A.M. Best Rating: A