Nex MYGAs are single premium deferred annuity products offered by Ohio State Life in 3-, 5-, 7-, and 10-year guarantee period options.
Introduction to Fixed Annuities
Fixed annuities can provide a number of key benefits, from principal protection to tax-deferred income, that can help you plan for your retirement and support your individual retirement goals.
Review the basics of fixed annuities and learn more about the potential benefits to determine if a Nex MYGA is the right solution for your retirement needs.
Nex MYGA Product Information
Download the product brochure for more information on fixed annuities and an overview of the Nex MYGA products.
For information on a specific Nex MYGA product, see the full list of Nex MYGA offerings below. Through various available riders and other flexible terms, Nex MYGA products can be customized to support your individual retirement needs.
Fixed Annuity Basics
Is a fixed annuity the right retirement solution for you? See answers to basic questions about fixed annuities and get familiar with some of the other terms used to describe these annuity products.
Fixed annuities are insurance products that, after a single initial premium payment, earn a fixed rate of interest.
With a fixed annuity, your money grows on a tax-deferred basis until you decide to begin receiving annuity payments. It therefore provides guaranteed growth as long as funds remain in the annuity until the end of any surrender charge period.
Fixed annuities are known by a number of other names. Other terms used to describe fixed annuities include:
• MYGAs (Multi-Year Guaranteed Annuities)
• Fixed Rate Annuities
• Fixed Deferred Annuities
• Single Premium Deferred Annuities
- Income & Growth
Tax-deferred income designed to grow and compound money efficiently
- Access & Liquidity
Ability to access money through flexible withdrawal terms and available riders
- Principal Protection
Securing income and savings via principal and interest protection
- Succession Planning
Helps provide families and beneficiaries with an asset that can be structured to avoid the lengthy probate process
Nex MYGA Product Offerings
The Nex5 MYGA, a fixed annuity with a 5-year guarantee period, was the first Nex MYGA product available through Ohio State Life. Building on the Nex5 MYGA, we expanded our fixed annuity offerings to include 3-, 7-, and 10-year guarantee period options, providing more flexibility for clients to tailor the annuity product to meet individual retirement needs.