The Aspida Life Insurance Company Advisory MYGA is a fee-based, commission-free multi-year guaranteed annuity that locks in a fixed, tax-deferred interest rate for 2, 3, 5, or 7 years, backed by A- rated Aspida and its parent, Ares Management. The word “Advisory” is the key: this version is sold through fee-based, fiduciary financial advisors rather than commission-based agents, which often means a higher headline rate, though you may pay a separate advisor fee, so you compare on the net yield. It’s a straightforward, low-risk way to grow safe money, with the usual annuity catch: your cash is locked up, and early withdrawals trigger charges. The Aspida Life Insurance Company Advisory MYGA suits savers who want a guaranteed rate and don’t need the money for the term.
Aspida Life Insurance Company Advisory MYGA: Quick Reference
| Feature | Detail |
|---|---|
| Issuer | Aspida Life Insurance Company |
| AM Best rating | A- (Excellent) |
| Backed by | Ares Management Corporation |
| Terms | 2, 3, 5, or 7 years |
| Minimum premium | $25,000 (up to $2,000,000) |
| Free withdrawals | ~10% per year after year one |
| Early-exit costs | Surrender charges + market value adjustment |
| Waivers | Nursing home, terminal illness |
| Distribution | Fee-based / fiduciary advisors |
Your CD just matured, the renewal rate the bank offered is underwhelming, and you start comparing safe-money options. Somewhere in that search you hit “Aspida Advisory MYGA” and stall on one word: Advisory. What does that mean, and is it better or worse for you? Here’s a plain-spoken review of what this annuity is, what makes the Advisory version different, and who should and shouldn’t buy it.
What Is the Aspida Advisory MYGA?
The Aspida Advisory MYGA is a single-premium deferred fixed annuity that pays a guaranteed interest rate for a set number of years, with your growth deferred from taxes until you withdraw. In plain terms, it’s a lot like a CD from an insurance company, but with tax deferral and usually a higher rate.
You put in a lump sum, choose a term of 2, 3, 5, or 7 years, and your money grows at a locked rate for that period regardless of what markets do. Because it’s tax-deferred, you don’t pay tax on the interest each year, so it compounds faster inside the contract. At the end of the term you can withdraw, renew, or move it to another annuity through a tax-free 1035 exchange. It’s built for one job: growing safe money predictably for a defined stretch of time.
What Makes the “Advisory” Version Different
The “Advisory” in the name means this MYGA is built for fee-based, fiduciary advisors, and it’s commission-free. That single design choice is the most important thing to understand about the product, and it’s what most reviews skip.
A traditional commission MYGA bakes the agent’s commission into the pricing. The Advisory version strips the commission out, so it’s distributed through registered investment advisors and fee-only platforms like DPL Financial Partners and Flourish. The practical upshot for you: commission-free annuities often show a higher headline rate than their commission cousins, because there’s no commission to fund. The catch is that you typically buy it through a fee-based advisor who charges a separate advisory fee (often a percentage of assets). So the honest comparison isn’t headline rate versus headline rate, it’s the Advisory rate minus your advisor’s fee versus a commission product’s rate. Run that math before assuming “no commission” automatically means “better deal for me.”
Aspida’s Financial Strength: A- Rated and Ares-Backed, but Newer
Aspida is financially solid but young, and both halves of that sentence matter. It carries an A- (Excellent) financial-strength rating from AM Best, and it’s backed by Ares Management Corporation, a global alternative asset manager with over $400 billion under management.
That institutional backing is real and reassuring for a guarantee that depends on the insurer’s ability to pay. The honest caveat: Aspida rebranded from Global Bankers Insurance Group in 2021, so it’s a newer entrant with a shorter track record, and A- sits a notch or two below the A+ and AA ratings of the most established carriers. That’s not a red flag, plenty of strong annuities come from A- insurers, but it’s a reason to compare Aspida side by side with higher-rated companies rather than choosing on rate alone. Remember too that the guarantee rests on the insurer plus your state guaranty association, which typically covers up to $250,000 per contract, not on FDIC insurance.
Key Features and Terms
Beyond the guaranteed rate, the Advisory MYGA includes the standard set of MYGA features, with a few worth flagging. Here’s what the contract offers:
- Terms: 2, 3, 5, or 7 years, so you can match the lockup to when you’ll need the money.
- Premium: a $25,000 minimum, up to $2,000,000 (larger amounts may be accepted with Aspida’s prior approval).
- Free withdrawals: roughly 10% of the contract value per year after the first contract anniversary, without surrender charges, and it’s friendly to required minimum distributions (RMDs).
- Tax treatment: tax-deferred growth; withdrawals are taxed as ordinary income, and those before age 59½ may face a 10% IRS penalty.
- Account types: available as non-qualified, Traditional IRA, or Roth IRA, and it accepts rollovers from IRAs, 401(k)-style plans, 457s, 403(b)s, SEPs, and SIMPLE IRAs.
- Death benefit: pays the full contract value to your named beneficiaries, bypassing probate.
Surrender Charges, MVA, and Liquidity
This is where you need to pay attention, because it’s the main downside of any MYGA. If you take out more than your free-withdrawal allowance or cash out before the term ends, you’ll face surrender charges plus a market value adjustment (MVA).
Surrender charges start higher and decline each year until they reach zero at the end of the term. On top of that, the MVA can move your withdrawal value up or down depending on how interest rates have changed since you bought in: if rates rose, the MVA generally reduces your payout, and if rates fell, it can increase it. The exact surrender schedule varies by state, so check Aspida’s current rate sheet rather than relying on a generic table. The bottom line is simple: surrendering early can cost you part of your principal, so only commit money you can leave alone for the full term.
Nursing Home and Terminal Illness Waivers
The Advisory MYGA softens the lockup with two waivers that let you reach your money in serious health situations without surrender charges. These are genuinely useful and not every annuity includes them.
The nursing home waiver generally lets you withdraw up to 100% of your contract value if you’re confined to an eligible nursing home for a qualifying period (commonly 90 consecutive days) after the first contract anniversary. The terminal illness waiver allows a similar full withdrawal if you’re diagnosed with a terminal illness, typically defined as an expected life span of 12 months or less, again after the first year. Eligibility rules and definitions live in the contract, so confirm the specifics, but as built-in protections, they add meaningful flexibility for the situations that matter most.
Aspida Advisory MYGA Rates: What to Expect
MYGA rates change frequently, sometimes weekly, and vary by term and state, so any specific number you read online is a snapshot, not a quote. What’s reliable is the shape of the deal, not a fixed figure.
In the current environment, multi-year fixed annuity rates have been competitive, and the commission-free Advisory version tends to post a higher headline rate than commission-based MYGAs for the same term. To know your actual rate, check Aspida’s live rate sheet or ask your advisor, and compare it against other A-rated-and-up carriers the same day. One thing buyers routinely overlook: the renewal. When your term ends, the rate often resets much lower, so plan to act at maturity, by renewing intentionally, taking the money, or doing a 1035 exchange, rather than letting it roll automatically.
Aspida Reviews and Complaints: How to Judge a Newer Carrier
Because Aspida is a younger company, judge it with objective measures rather than marketing copy or anonymous testimonials. Three sources tell you what you actually need to know.
First, the AM Best rating (A-, Excellent) speaks to financial strength and claims-paying ability. Second, the NAIC Complaint Index, available through naic.org, shows whether a company draws more or fewer complaints than expected for its size, which is far more useful than scattered online reviews. Third, the Better Business Bureau lists accreditation and complaint patterns. The Ares Management backing adds institutional weight. What you won’t find here is a fabricated five-star quote, because those tell you nothing; the regulators’ data does.
Aspida Company Info: Headquarters and Contact
If you’re trying to reach Aspida directly, here are the verifiable basics. Aspida operates from an administrative office in Durham, North Carolina, and is licensed in 49 states (all except New York) plus the District of Columbia.
For account access, most Advisory MYGA holders manage their contract through their fee-based advisor, and Aspida maintains a customer portal and service line through its official website, aspida.com. Since this is the advisory (fee-based) product, your advisor is usually your first point of contact for service, login help, beneficiary changes, and withdrawals, with Aspida’s customer service available directly as well. Always use the contact details on your contract or Aspida’s official site rather than third-party listings, which can be out of date.
The Honest Read
The Aspida Advisory MYGA is a clean, sensible product for the right person: a saver who wants a guaranteed, tax-deferred rate, is working with a fee-based advisor, and won’t need the money before the term ends. The commission-free structure is a genuine plus, and the nursing home and terminal illness waivers add real flexibility.
It’s the wrong fit if you might need liquidity, since surrender charges and the MVA can eat into principal, or if you’d be paying an advisory fee that wipes out the rate edge over a comparable commission product. And while A- and Ares backing are reassuring, the prudent move with any newer carrier is to compare it against higher-rated insurers offering similar terms. Buy it for what it is, predictable growth on money you can lock away, not as a do-everything retirement solution, and watch the renewal so a low reset rate doesn’t quietly cost you.
Conclusion
The Aspida Advisory MYGA is a commission-free, fee-based multi-year guaranteed annuity offering a fixed, tax-deferred rate over 2, 3, 5, or 7 years, backed by A- rated, Ares-owned Aspida. Its strengths are competitive headline rates, useful health waivers, and a clean fiduciary structure; its trade-offs are illiquidity, surrender charges and an MVA, a possible advisor fee, and a newer carrier with a single A- rating. Compare the net rate against other strong insurers, confirm the current figures on Aspida’s rate sheet, and only commit money you can leave untouched for the term. Do that, and it’s a solid tool for the safe-money slice of a retirement plan.
FAQs
What is the Aspida Advisory MYGA?
It’s a single-premium deferred fixed annuity from Aspida Life Insurance Company that guarantees a fixed, tax-deferred interest rate for a set term of 2, 3, 5, or 7 years. It works much like a CD from an insurer, but with tax deferral and typically a higher rate, in exchange for locking up your money.
What does “Advisory” mean in the Aspida Advisory MYGA?
It means the product is commission-free and sold through fee-based, fiduciary advisors rather than commission agents. That often produces a higher headline rate, but you may pay a separate advisory fee, so compare the rate minus that fee against commission-based MYGAs to see which is genuinely better for you.
Who issues the Aspida Advisory MYGA, and is it financially strong?
Aspida Life Insurance Company issues it, holding an A- (Excellent) rating from AM Best and backed by Ares Management, a global asset manager with over $400 billion under management. Aspida is a newer carrier (rebranded in 2021), so it’s wise to compare it with higher-rated insurers.
What are the terms and minimum for the Aspida Advisory MYGA?
You can choose a 2, 3, 5, or 7 year term, with a minimum premium of $25,000 and a maximum of $2,000,000 (more may be accepted with prior approval). It’s available as non-qualified, Traditional IRA, or Roth IRA, and accepts rollovers from most qualified retirement plans.
How do surrender charges and the MVA work?
If you withdraw more than your free allowance or exit before the term ends, you face surrender charges that decline each year to zero, plus a market value adjustment that can raise or lower your value based on interest-rate changes. Surrendering early can cost part of your principal, and schedules vary by state.
Can I take money out of the Aspida Advisory MYGA?
Yes, within limits. After the first contract anniversary you can withdraw up to about 10% of the contract value each year without surrender charges, and it accommodates required minimum distributions. Larger early withdrawals trigger surrender charges and the MVA, so plan around the free allowance.
What are the nursing home and terminal illness waivers?
They let you access up to 100% of your contract value without surrender charges in serious health situations. The nursing home waiver applies after a qualifying confinement (commonly 90 days), and the terminal illness waiver applies with a diagnosis of 12 months or less to live, both after the first contract year.
How does the death benefit work?
The Advisory MYGA pays the full contract value to your named beneficiaries, bypassing probate so they receive the funds more quickly and privately. Naming a beneficiary is what keeps it out of probate, so keep that designation current as your circumstances change.
What are Aspida Advisory MYGA rates right now?
Rates change frequently and vary by term and state, so check Aspida’s current rate sheet or ask your advisor for a live quote rather than relying on any published figure. The commission-free Advisory version usually posts a higher headline rate than commission MYGAs, but watch the lower renewal rate at term end.
Is Aspida a legitimate, safe company, and how do I check complaints?
Yes, it’s a licensed insurer (in 49 states plus DC) rated A- by AM Best and backed by Ares Management. To judge it objectively, check the AM Best rating, the NAIC Complaint Index at naic.org, and the BBB, rather than relying on anonymous online reviews.
Where is Aspida located and how do I contact it?
Aspida operates from an administrative office in Durham, North Carolina. For the Advisory MYGA, your fee-based advisor is usually your first contact for service and account access, with Aspida’s customer portal and service line available through its official site, aspida.com. Use the contact details on your contract.
Is the Aspida Advisory MYGA worth it?
It can be, for a saver who wants a guaranteed, tax-deferred rate, works with a fee-based advisor, and won’t need the money for the term. It’s less suitable if you need liquidity or if an advisory fee erases the rate advantage. Compare the net rate against other strong insurers before deciding.
About the Author
The InsuranceGuidances Editorial Team produces fact-checked reviews of insurance and retirement products, sourcing each detail from the issuer’s own documents and independent authorities. This review draws on Aspida’s brochures and rate sheets, its AM Best rating, and reputable annuity sources, and it deliberately avoids quoting a specific live rate, since MYGA rates change weekly, or inventing customer testimonials.
Sources
- Aspida — Advisory MYGA brochure (terms, contract forms). https://www.aspida.com/documents/myga/advisory/40001-Aspida-Advisory-MYGA-Brochure.pdf
- Aspida — Advisory MYGA rate sheet (disclosures, administrative office). https://aspida.com/documents/myga/advisory/40003-Aspida-Advisory-MYGA-Rate-Sheet.pdf
- Aspida — fixed annuities overview. https://www.aspida.com/fixed-annuities.html
- DPL Financial Partners — Aspida Advisory MYGA for advisors (premium limits, fee-based). https://www.dplfp.com/advisor/products-annuities/aspida-advisory-myga
- Annuity.org — Aspida annuities review (features, waivers, AM Best). https://www.annuity.org/annuities/providers/aspida/
- My Annuity Store — Aspida annuity review (A- rating, Ares backing, history). https://myannuitystore.com/annuity-insurance-companies/aspida/
- NAIC — Consumer Information Source and complaint index. https://content.naic.org/
- AM Best — insurer financial-strength ratings. https://web.ambest.com/
By the InsuranceGuidances Editorial Team Reviewed June 2026 ·
