Aspida At a Glance: Rates, Products and Reviews

Today’s Best Aspida Annuity Rates

Term	Product	AM Best Rating	Rate
5	Aspida Advisory MYGA	A-	5.75%
7	Aspida Advisory MYGA	A-	5.65%
3	Aspida Advisory MYGA	A-	5.60%

Compare Aspida Annuity Rates

Additional Products Offered by Aspida

When it comes to types of annuities, Aspida’s offerings are limited to fixed and fixed index annuities. The upside is that the company provides numerous versions of those products, each with its own advantages that help it cater to different types of customers.

Fixed Annuities

Aspida offers multi-year guaranteed annuities (MYGAs), which all share some similarities.

Each MYGA is available in terms of two, three, five or seven years, has a minimum of $25,000 and a maximum of $1,000,000. These products also allow your money to grow tax-deferred at a guaranteed rate.

The first of these products is the Aspida Advisory MYGA, which, on top of the standard benefits of opting for a MYGA, offers fairly customer-friendly surrender rates and includes nursing home and terminal illness waivers.

It’s a good choice if you want a low-risk and straightforward way to grow your money.

The Synergy Choice MYGA includes some unique features, such as free interest withdrawal, which allows you to set up regular withdrawals of the interest that your annuity earns. Like Aspida’s other MYGA offerings, you can withdraw up to 10% of your contract with no penalty after the first year.

Aspida’s final fixed annuity offering is the WealthLock MYGA, which includes a combination of standard benefits found in the company’s other products, like the ability to withdraw up to 10% of the contract value after a year, along with terminal illness and nursing home waivers.

Aspida WealthLock MYGA Rates

Term Length	Rate for Premiums of $25,000 to $99,999	Rate for Premiums of $100,000 or More
Two Years	4.8%	4.95%
Three Years	5.6%	5.75%
Five Years	5.8%	5.95%
Seven Years	5.7%	5.85%

Fixed Index Annuities

Aspida offers a large range of fixed index annuities, with four products available to customers. This includes three base fixed index products and the WealthLock Accumulator.

Aspida’s Fixed Index Annuities

• Synergy Choice Max
• Synergy Choice Bonus
• Synergy Choice Income
• WealthLock Accumulator

Each of the Synergy Choice products is available in terms of either five or 10 years. The Synergy Choice Max is the base product, with standard perks such as nursing home/terminal illness riders, while Synergy Choice Bonus includes the ability to earn a 10% bonus on your initial premium.

On the other hand, Synergy Choice Income does not offer a bonus but includes a built-in guaranteed lifetime withdrawal benefit.

The WealthLock Accumulator is focused on accumulation and is available in terms of seven or 10 years.

About Aspida

Unlike other providers in the annuity space that offer different insurance products across a wide spectrum, Aspida is heavily focused on annuities, with all of its direct premiums sold in 2022 coming from annuity products.

Aspida is also much younger than virtually all of its competitors, having just been founded in 2021. But, despite its youth, it has significant financial backing. The company is owned by Ares Management, which was founded in 1997 and holds a combined $378 billion in assets under management.

The company holds an AM Best Financial Strength Rating of A-, which isn’t the highest level, but is impressive given the company’s age.

Credit Ratings

Credit ratings for annuity providers can help determine a company’s financial strength and stability — an indication that it will be around to guarantee payments to you in the future. Different rating companies use different scales.

Aspida Credit Ratings

Rating Company	Credit Rating
AM Best	A-
Fitch	BBB
S&P	Not Rated

What Customers Are Saying About Aspida

In part due to the youth of the company, there is less customer satisfaction data available than there is for some of the larger and older legacy providers.

The company was not featured in the 2022 or 2023 editions of the J.D. Power Customer Satisfaction Index Ranking, which measures the overall customer satisfaction of annuity providers.

Aspida has a perfect NAIC Complaint Index Score (meaning no customers have filed complaints) but has a much smaller and more recent footprint in the annuity space than other providers.

The NAIC (National Association of Insurance Commissioners) tracks the consumer complaints that each state’s insurance commission receives each year. These are used to compile a company’s NAIC Complaint IndexNAIC Complaint IndexDetermined by dividing the company’s share of complaints in the U.S. market by the company’s share of premiums in the U.S. market. The National Complaint Index is always 1.00, so a score of 2.00, for example, is twice as high as expected in the market..

NAIC Complaint Index for Aspida

All Policy Types	0
Individual Annuities Only	0

Aspida Pros & Cons

Aspida stands out thanks to its strong variety of fixed and fixed index annuity offerings. Instead of just offering two or three base products, the company has many versions with varying perks that help customers lock in on the product that makes the most sense for them.

The company also has a perfect NAIC Complaint Index Score which, despite its limited history, speaks to its few customer satisfaction issues.

Perhaps the biggest con to Aspida is the company’s age. Annuities can be a major financial commitment and many potential customers like the stability that comes from working with a large and old company. Aspida is practically in its infancy, just founded in 2021.

Additionally, all of the company’s annuity offerings are single-premium products, meaning they are not available in a deferred version. Other options outside of the fixed realm, such as variable annuities, are also not available.

Provider Rating Methodology

Annuity.org created a fact-based methodology to analyze the strength, security and reach of different annuity providers. We assessed companies based on their availability, the number of direct premiums sold, their AM Best Financial Strength Rating and their NAIC Complaint Index score.

Providers received a rating on a five-star scale for each of these categories, with the complaint index and financial strength ratings weighed as the heaviest variables. Then, using a weighted average, each company was assigned an overall star rating.

Top-Ranked Annuity Providers

Provider	Annuity.org Star Rating
Mass Mutual
New York Life
Pacific Life
Midland National
North American
Western & Southern

Our Rating Panel

The Annuity.org editorial team spoke with several different annuity experts to learn more about what is important to customers when searching for a provider and what factors make a company reliable. While Annuity.org designed the methodology, these experts provided feedback during the process and consulted on what factors we should leverage to best help prospective buyers compare providers.