Fixed annuities are insurance products that earn a fixed rate of interest. These annuities are sometimes known by other terms such as multi-year guaranteed annuities (MYGAs), fixed-rate annuities, fixed deferred annuities, and single premium deferred annuities.
This allows the policy owner’s money to grow on a tax-deferred basis until they decide to begin receiving annuity payments.
Variable annuities are tax-deferred insurance products where the policy owner bears the risk of any loss of premium from the performance of the underlying investment options. Variable annuities are higher risk, as the policy owner could lose some or all of their premium. However, they also offer a greater upside if the underlying investment options appreciate.
Coming Soon to NexAnnuity
Fixed Index Annuities
Similar to fixed annuities, fixed index annuities grow tax deferred but feature a different method for determining the crediting rate based on a choice of indices. The policy owner chooses one or several indices and the insurance company provides a crediting rate based on performance.
Coming Soon to NexAnnuity
Nex MYGA annuities are issued by The Ohio State Life Insurance Company, Administrative Office PO BOX 25417 Salt Lake City, UT 84125 (“Ohio State Life”). Available in most states under contract form series ICC21 NA001_Rev, ICC21 NA001-APP_Rev, ICC21 NA001R1_Rev, ICC21 NA001R2_Rev, ICC21 NA001R3_Rev and state variations thereof. Rider benefits and rider form numbers may vary by state. Insurance and annuity products, optional features, and riders are not available in all states and may be subject to firm availability. Click here to see current product availability. Ohio State Life is not licensed in Connecticut, Maine, New York, or Vermont, and operates in California with license number 08115. Annuities contain features, exclusions and limitations that vary by state. Read the contract for complete details. Payment obligations and guarantees are subject to the financial strength and claims-paying ability of Ohio State Life. Ohio State Life may change or discontinue a product at any time.
ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY FDIC OR NCUA/NCUSIF. ANNUITIES MAY LOSE VALUE AND HAVE NO BANK/CREDIT UNION GUARANTEE. ANNUITIES ARE NOT A DEPOSIT AND ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. ANNUITIES MAY ONLY BE OFFERED BY A LICENSED INSURANCE PRODUCER/AGENT. This material should not be interpreted as a recommendation by NexAnnuity or Ohio State Life.
Withdrawals of taxable amounts from an annuity are subject to ordinary income tax, and, if taken before age 59½, may be subject to a 10% IRS penalty. Any discussion or mention of taxes is for general informational purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, investment, tax or accounting advice. NexAnnuity, Ohio State Life and their affiliates, including any distribution partners, do not offer legal, investment, tax or accounting advice. Please consult your own qualified legal, investment, tax and accounting advisors.
“NexAnnuity” and “Nex” are used as marketing names for NexAnnuity Holdings, Inc., its subsidiaries and some affiliates, including The Ohio State Life Insurance Company. Each subsidiary or affiliate is responsible for its own financial and contractual obligations. Certain subsidiaries and affiliates, including The Ohio State Life Insurance Company, are not authorized to do business in New York.