Aspida Life Insurance Company
Aspida Life Insurance offers two types of annuity products in 48 states — fixed annuities and fixed index annuities. You cannot purchase one of Aspida’s annuity products if you live in New York or Connecticut. Learn about Aspida’s overall company ratings and annuity products to determine if they suit your financial needs.
- Written By Lindsey Crossmier
Lindsey Crossmier is an accomplished writer with experience working for The Florida Review and Bookstar PR. As a financial writer, she covers annuities, structured settlements and other personal finance topics for Annuity.org.Read More
- Edited BySavannah Hanson
Senior Financial Editor
Savannah Hanson is an accomplished writer, editor and content marketer. She joined Annuity.org as a financial editor in 2021 and uses her passion for educating readers on complex topics to guide visitors toward the path of financial literacy.Read More
- Financially Reviewed ByTimothy Li, MBA
Timothy Li, MBA
Business Finance Manager
Timothy Li, MBA, has dedicated his career to increasing profitability for his clients, including Fortune 500 companies. Timothy currently serves as a business finance manager where he researches ways to increase profitability within the supply chain, logistics and sales departments.Read More
- Updated: January 10, 2023
- 3 min read time
- This page features 8 Cited Research Articles
- Edited By
Recently founded in 2021, Aspida is a newer life insurance company compared to other annuity providers. Aspida’s main goal is to provide fast, simple retirement solutions — like annuities — in today’s digital age. They’ve partnered with many professionals that have over 200 years of combined life insurance and annuity experience.
Aspida Life Insurance is backed by Ares Management Corporation, a leading global alternative investment manager. Ares oversees Aspida’s asset management, capital solutions and other development services. As of September 2022, Ares has $341 billion assets under management.
Aspida offers annuities in 48 U.S. states — excluding New York and Connecticut — and the District of Columbia. Their indirect subsidiary, Aspida Life Re Ltd., sells annuities globally. Aspida Life Re Ltd. is currently headquartered in Bermuda, a leading location for reinsurance business.
- Aspida Life Insurance: 1+(833) 427-7432
- Aspida Life Re Ltd.: 1+(441) 437-9450
Aspida Credit Ratings
Aspida has high financial strength ratings from two leading credit rating agencies — AM Best and KBRA. A life insurance company’s financial strength is rated based on the company’s ability to pay obligations under policies and contracts.
Annuity Products Offered by Aspida
Aspida offers two types of annuities — fixed annuities and fixed index annuities. There are three fixed annuities — WealthLock MYGA, Synergy Choice MYGA and Aspida Advisory MYGA — and two fixed index annuities — Synergy Choice Max and WealthLock Accumulator.
Consider your financial needs and the differences between each Aspida annuity before making a purchase.
|Fixed Annuity||Fixed Indexed Annuity|
|Growth Potential||Guaranteed rates, typically higher than CDs||Positive return based on selected indices|
|Beneficiaries||Assets passed without probate||Assets passed without probate|
|Risk Level||Low risk||Medium risk|
Aspida’s fixed annuities are all single premium deferred fixed multi-year guaranteed annuities (MYGA) with a two-to-seven-year guarantee period option. Your MYGA will grow tax-deferred and most offer flexibility to adjust for your current financial situation.
- Aspida Advisory MYGA
- Synergy Choice MYGA
- WealthLock MYGA
Aspida will allow you to make withdrawals from your fixed annuity to cover unexpected costs. After the first year, you can also access 100% of your contract value if you become confined to a nursing home and diagnosed with a terminal illness.
Fixed Index Annuities
Aspida offers two fixed index annuity – WealthLock Accumulator and Synergy Choice Max. They are single premium deferred fixed index annuity with seven-to-10-year contract options.
The WealthLock Accumulator offers protection to get a high rate of return that is tied to an indices’ performance, a fixed rate or both.
- S&P 500
- Franklin Templeton
- Janus Henderson Investors
You can withdraw 10% of your cash value each year after your first year. Same as Aspida’s fixed annuities, you can also access 100% of your contract value if you become confined to a nursing home and diagnosed with a terminal illness.
If you want to learn about the WealthLock Accumulator’s interest crediting rates, Aspida has a PDF with rates available.
If you’ve already purchased an annuity from Aspida and have additional questions, log into their online portal to receive assistance. Other resources, like specific financial information, forms and submission databases will be available to streamline your process.
If you have a specific need, like filing a claim or general client support for your annuity, you should send an email instead.
Connect With a Financial Advisor Instantly
8 Cited Research Articles
Annuity.org writers adhere to strict sourcing guidelines and use only credible sources of information, including authoritative financial publications, academic organizations, peer-reviewed journals, highly regarded nonprofit organizations, government reports, court records and interviews with qualified experts. You can read more about our commitment to accuracy, fairness and transparency in our editorial guidelines.
- AM Best. (2022, April 1). AM Best Affirms Credit Ratings of Aspida Life Re Ltd., Assigns Credit Ratings to Aspida Life Insurance Company. Retrieved from https://news.ambest.com/PressContent.aspx?altsrc=2&refnum=31893
- Aspida Life Insurance Company. (n.d.). About Aspida. Retrieved from https://www.aspida.com/aboutus.html
- Aspida Life Insurance Company. (2022). Annuities. Retrieved from https://www.aspida.com/annuities.html#annuities-products
- Aspida Life Insurance Company. (n.d.). Fixed Annuities. Retrieved from https://www.aspida.com/fixed-annuities.html
- Aspida Life Insurance Company. (2022, September). This is Aspida. Retrieved from https://www.aspida.com/images/documents/10004-This-is-Aspida-Ares-Financials.pdf
- Aspida Life Insurance Company. (n.d.). WealthLock Accumulator. Retrieved from https://www.aspida.com/wealthlock-accumulator.html
- Aspida Re Ltd. (2022). Aspida Re. Retrieved from https://aspidare.bm/index.html
- KBRA. (2022, May 24). KBRA Assigns Ratings to Aspida Holdings Ltd. and Its Insurance Operating Subsidiaries. Retrieved from https://www.kbra.com/documents/press-release/53681/kbra-assigns-ratings-to-aspida-holdings-ltd-and-its-insurance-operating-subsidiaries
Calling this number connects you to Senior Market Sales (SMS), a trusted partner of Annuity.org.
If you're interested in buying an annuity, a representative will provide you with a free, no-obligation quote.
SMS is committed to excellent customer service. The company can help you find the right insurance agent for your unique financial objectives.877-918-7024