NexVantage MYGA by NexAnnuity: Guaranteed Annuity for Retirement
NexAnnuity has unveiled the NexVantage Multi-Year Guaranteed Annuity (MYGA), joining forces with Fortis Life and Annuity Insurance Company to offer a single-premium deferred annuity with fixed rates across various terms.
The introduction of the NexVantage MYGA marks a significant expansion in NexAnnuity's fixed annuity offerings. Catering specifically to investors seeking stable returns unaffected by market shifts, it offers guaranteed interest rates of 6.25% for both the three- and five-year terms, and 5.00% for the seven- and ten-year terms, starting from October 1, 2026. The minimum initial premium is set at $50,000, and the product is available for individuals up to 85 years old, showcasing its appeal to those nearing or in retirement who prioritize steady growth and principal protection.
NexAnnuity's strategic collaboration with Fortis enhances its ability to offer retirement solutions that combine tax-deferred growth and flexible annuitization with features like principal protection, liquidity provisions, and death benefits. This partnership, aiming to deliver robust retirement income strategies, involves NexAnnuity's expert contribution to product strategy and distribution, working alongside Fortis's capacity as an emerging Texas-based insurer. The NexVantage MYGA, available in 38 states and the District of Columbia, further cements NexAnnuity's role in planning and asset management while depending on the financial stability of Opportunity Life Insurance Company, a subsidiary of Fortis.
Key Features of the NexVantage MYGA
- Guaranteed interest rates of 6.25% for 3- and 5-year terms, 5.00% for 7- and 10-year terms
- Minimum premium: $50,000
- Eligibility up to 85 years of age
- Tax-deferred growth and principal protection
- Liquidity options and death benefits
According to Brad Heiss, EVP and Chief Investment Officer, and Brian Graime, Head of NexAnnuity Distribution, this product is designed to meet the growing demand for retirement income solutions that emphasize both capital preservation and secure financial objectives. As NexAnnuity continues to expand its footprint within the insurance sector, its alignment with Fortis serves to strengthen its distribution reach and service offerings within the retirement planning market.