Goldstein Scorecard: C+ (dated October 4, 2026). See how it is graded.
Ameritas Index Annuities Review: ApexAdvantage Rates Effective October 5, 2026, Income 10, and the “Compass” Question
Written & reviewed by Hans Goldstein, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Facts verified against Ameritas rate sheet AL1266 (effective 10/5/2026), brochures and ameritas.com on October 4, 2026 · Updated
Ameritas does not sell an annuity called “Compass.” Its indexed annuities, issued by Ameritas Life Insurance Corp. (AM Best A, Excellent), are ApexAdvantage, Income 10 and Accumulation 7. ApexAdvantage is a 10-year fixed indexed annuity: on its rate sheet effective October 5, 2026 the S&P 500 one-year cap is 5.45%, the fixed account 3.45%, and the minimum premium is $25,000. Surrender charges start at 9% and run 10 years, with a market value adjustment.
Correction (October 4, 2026): an earlier version of this page was titled “Ameritas Compass FIA Review (2026), A Rated Mid-Market” and described Compass 7, 10 and 14 versions and a “lifetime confidence rider.” Ameritas does not sell a product or rider by those names: its indexed annuities page lists Income 10, ApexAdvantage and Accumulation 7. This page now reviews ApexAdvantage, from the ApexAdvantage rate sheet effective 10/5/2026 and consumer brochure, with notes on Income 10 and FlexMark Select. The old cap estimates, S&P and COMDEX figures and star rating were removed.
What Ameritas sells in indexed annuities
Ameritas’s indexed annuities page (checked October 4, 2026) lists three products, all issued by Ameritas Life Insurance Corp., Lincoln, Nebraska: Income 10 Index Annuity (income-focused, with two lifetime withdrawal riders), ApexAdvantage Index Annuity (income can start right away) and Accumulation 7 Index Annuity (savings and death benefit focus; Ameritas does not post a brochure or rates for it on that page). ApexAdvantage launched on July 18, 2022 as a limited-distribution product (Ameritas news release); its materials say it was designed with Ameritas and is exclusively marketed by Legacy Marketing Group.
FlexMark Select, an older Ameritas single premium index annuity, is not on that page, and its rate sheet (AL1017, rev. 10/5/2026) says its rates are for applications submitted on or before February 13, 2026. Treat it as closed to new applications unless an agent shows you otherwise in writing. Existing FlexMark Select owners: the base version’s surrender schedule insert runs 10%, 10%, 10%, 9%, 9%, 8%, 7%, 6%, 4%, 2% over years 1 to 10, with an MVA.
ApexAdvantage current rates (effective October 5, 2026)
| Interest crediting option | Current rate |
|---|---|
| One-year S&P 500 point-to-point with cap | 5.45% cap |
| One-year S&P 500 point-to-point with participation rate | 37% participation |
| One-year S&P 500 IQ 0.5% Decrement Index point-to-point with cap | 8.00% cap |
| One-year S&P 500 IQ 0.5% Decrement Index point-to-point with participation rate | 50% participation |
| One-year BNPP US Governance Multi Asset Index point-to-point | 145% participation |
| One-year US Innovative Leaders 5 Index point-to-point | 130% participation |
| One-year fixed account | 3.45% |
| FutureNow Rider benefit base bonus (applied to all premium) | 40% |
| FutureNow Rider roll-up rate (during the roll-up period) | 5.00% |
The S&P 500 IQ 0.5% Decrement Index (launched July 12, 2023), the BNPP US Governance Multi Asset Index (May 25, 2022) and the US Innovative Leaders 5 Index (January 28, 2020) have limited history, per the rate sheet. High participation rates on those indexes are not comparable to a cap on the S&P 500: the BNPP index, for example, deducts a 0.50% annual fee and uses volatility control inside the index. See cap vs participation rate.
ApexAdvantage contract basics
| Feature | What Ameritas publishes |
|---|---|
| Type | Modified single premium deferred fixed index annuity (premium accepted only in the first policy year) |
| Premium | $25,000 to $2,000,000; additional first-year payments of at least $5,000 |
| Surrender charges | Years 1 to 10: 9%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%; 0% from year 11 |
| Market value adjustment | Yes, on amounts that incur a surrender charge; not on penalty-free amounts or after year 10 |
| Penalty-free withdrawals | Up to 10% of beginning-of-year accumulation value each year after the first policy anniversary |
| Waivers | Confinement (30 consecutive days), terminal illness (life expectancy one year or less), home health care (2 of 6 ADLs, after the first anniversary) |
| Minimum participation rate | 10% for all index options |
| Minimum cap and fixed account minimum rate | Shown on the policy schedule; not publicly disclosed |
| Minimum guaranteed surrender value | 87.5% of premium, less withdrawals and surrender charges, plus interest at the nonforfeiture rate on the policy schedule |
| Optional income riders | FutureNow Rider, 1.25% a year; FutureNow Rider With Booster, 1.35% a year (charged on the rider charge base, can change after year 10 up to the policy maximum) |
| Income start | As early as 30 days after issue, with all covered persons at least age 50 |
| Death benefit | Greater of accumulation value or minimum guaranteed surrender value |
| Issue ages | Not in the consumer brochure; not publicly disclosed |
Any contractual guarantees are backed by the claims-paying ability of Ameritas Life Insurance Corp. Index interest is never less than 0% for a period, but surrender charges and the MVA can reduce what you receive if you leave early.
Ameritas Income 10 Index Annuity
| Income 10 feature | What Ameritas publishes |
|---|---|
| Type | Flexible premium deferred index annuity, rate bands by accumulation value ($25,000, $100,000, $250,000 breakpoints) |
| Surrender charges | Years 1 to 10: 9%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%; 0% from year 11, plus an MVA |
| Penalty-free withdrawals | 10% of beginning-of-year accumulation value each year after the first |
| Income Protector rider | Premium accumulation value grows 7.00% a year for the first 10 years; level lifetime income |
| Income Builder rider | 3.00% plus 200% of interest credits for the first 10 years; income can rise |
| Rider charges | 1.00% a year current for either rider (maximum 2.00% single life, 2.50% joint); “plus” income doubler option 1.10% current |
The rider growth rates come from the brochure dated 5-25; Ameritas’s Income 10 calculator page shows the same charges. Confirm the rates on your own rider schedule before you buy. Model the trade-off with the income rider vs annuitization calculator.
Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | A- | AM Best A (Excellent), third highest of 13; S&P A+ (Strong), per Ameritas (AM Best analysis June 25, 2026; S&P April 8, 2026). |
| Rate or cap competitiveness | C | 3.45% fixed account and a 5.45% S&P 500 cap (a ceiling, not a yield) against 5-year MYGAs at about 5.80% to 6.00% on September 24, 2026. |
| Guaranteed floor | D | The only published minimum is a 10% participation rate; the minimum cap and fixed account minimum are on the policy schedule, not public. |
| Liquidity | C | 10-year schedule from 9%, MVA, 10% free after year one, three health waivers. |
| Costs | B | No base contract fee listed; optional FutureNow riders cost 1.25% or 1.35% a year; the BNPP index deducts a 0.50% annual index fee inside the index. |
| Transparency | B | Dated rate sheet, brochure and surrender schedule are public; cap and fixed minimums are not. |
| Guaranteed minimum cap | Not publicly disclosed | The minimum cap is on the policy schedule; no public Ameritas document states it (checked October 4, 2026). |
| Minimum participation rate | 10% | All ApexAdvantage index options, Ameritas ApexAdvantage client guide AL1267F. |
| Overall | C+ | A-rated mutual-holding-company issuer and a public rate sheet, set against a 10-year surrender period, an MVA and a low published floor. |
How these contract minimums compare across products: guaranteed minimum caps across FIAs (October 2026).
Get the current numbers for your amountor call 213-414-2808
Pros and cons
Pros
- Issuer rated A (Excellent) by AM Best and A+ (Strong) by S&P, per Ameritas.
- Current rates are on a public, dated rate sheet (effective October 5, 2026), so you can check a quote yourself.
- Six index options plus a fixed account; the fixed account credits interest monthly, which suits money you plan to withdraw.
- Optional FutureNow rider can start lifetime income 30 days after issue from age 50, with a 40% benefit base bonus and 5.00% roll-up on the current sheet.
Cons
- 10-year surrender period starting at 9%, plus a market value adjustment.
- The published participation floor is 10%, and the minimum cap and fixed account minimum are not public.
- The 3.45% fixed account is below the dated 5-year MYGA benchmark.
- The rider bonus and roll-up build an income base, not cash, and the rider charge (1.25% or 1.35%) is deducted from your accumulation value.
- Premium is accepted only in the first policy year.
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Who it’s for, and when to look elsewhere
Fits: someone age 50 or older who wants lifetime income to start soon and values the FutureNow rider’s early start, has other liquid savings, and can leave the money in place for 10 years.
Look elsewhere if: you mainly want a known rate. A MYGA locks a declared rate for the whole term, while ApexAdvantage’s fixed account rate is set for one year at a time and the index caps reset each period. For comparison, A-rated-or-better insurers were paying about 5.80% to 6.00% on 5-year MYGAs and the best nationally available 5-year CDs about 4.35% to 4.50% APY on September 24, 2026 (AnnuityRateWatch carrier data; DepositAccounts). Current rates: MYGA rates. Also look elsewhere if you may need more than 10% a year in the first decade, or you want to add money after the first policy year.
Questions to ask your agent
- Show me, in writing from my policy schedule, the minimum cap and the guaranteed minimum interest rate for the fixed account. The public insert only states a 10% minimum participation rate.
- What is the surrender schedule in my state by year, how is the MVA calculated, and what would I get back if I surrendered in year 3?
- If I add the FutureNow rider, show me the income amount and the accumulation value side by side, with the 1.25% or 1.35% charge deducted, at the age I plan to start income.
- What renewal caps and participation rates have in-force ApexAdvantage contracts received after their first year?
- How are you paid on this product? The commission comes from Ameritas, is built into the product’s pricing and is not deducted from my premium. What percentage is it, and would a shorter-surrender product pay you less? (Background: how annuity commissions work.)
From my desk
When I review an ApexAdvantage illustration, I check first which number the income is built on. With the FutureNow rider, payments come from the benefit base: premium plus the 40% bonus, rolled up at 5.00% for up to three years on the current sheet. That base is not money you can withdraw or leave to heirs. The death benefit is the accumulation value (or the minimum guaranteed surrender value, if higher), and the rider charge comes out of that value every month.
The number buyers most often misread on this kind of product is the participation rate on a custom index. A 145% participation rate sounds larger than a 5.45% cap, but it applies to an index built with a fee and volatility control, so the two do not compare directly. I ask for the back-tested and actual history of each index and treat it as history, not a forecast.
Against a MYGA I keep it simple. Hypothetical: $100,000 for five years in a MYGA at a declared rate is a number you know on day one. In ApexAdvantage, the fixed account is 3.45% for one year, the index options credit 0% in a down year, and the surrender schedule lasts 10 years. If income is not the goal, I start with the MYGA and make the indexed annuity earn its place. Run your own numbers in the surrender charge calculator and the annuity calculator.
Related reading: how annuity crediting actually works, Lincoln OptiBlend 10 review, Athene Agility 10 review, are annuities FDIC insured? and Ameritas life insurance review.
Frequently asked questions
Q: Is there an Ameritas Compass annuity?
A: No. Ameritas’s indexed annuities page lists Income 10, ApexAdvantage and Accumulation 7 (checked October 4, 2026). There is no Compass FIA and no “lifetime confidence rider.” The closest match to what the old page described is ApexAdvantage, a 10-year fixed indexed annuity with optional FutureNow income riders.
Q: What are ApexAdvantage’s current rates?
A: On the rate sheet effective October 5, 2026: S&P 500 one-year cap 5.45%, S&P 500 participation 37%, S&P 500 IQ 0.5% Decrement cap 8.00% or participation 50%, BNPP US Governance Multi Asset participation 145%, US Innovative Leaders 5 participation 130%, fixed account 3.45%. Rates apply to the initial period for new policies.
Q: What is the ApexAdvantage surrender schedule?
A: 9%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2% and 1% in years 1 to 10, then 0%, per the consumer brochure. A market value adjustment applies when a surrender charge does. After the first anniversary you can take 10% of the beginning-of-year value each year without either. State versions may differ.
Q: How much does the FutureNow rider cost?
A: The brochure lists 1.25% a year for the FutureNow Rider and 1.35% for the version with the booster, which doubles income if you cannot perform 2 of 6 activities of daily living. The current rate sheet shows a 40% benefit base bonus and a 5.00% roll-up. The benefit base is used to calculate income and is not cash.
Q: What is the minimum guaranteed rate on ApexAdvantage?
A: Ameritas’s public insert states a 10% minimum participation rate for all index options. The minimum cap and the fixed account’s guaranteed minimum interest rate are shown on your policy schedule and are not publicly disclosed, so ask for them in writing.
Q: Is FlexMark Select still sold?
A: Its rate sheet (rev. October 5, 2026) says the rates are for applications submitted on or before February 13, 2026, and it is not on Ameritas’s indexed annuities page. Treat it as closed to new applications unless you see a current application in writing.
Q: What is Ameritas’s AM Best rating?
A: A (Excellent), the third highest of AM Best’s 13 ratings, per Ameritas’s financial strength page citing AM Best analysis dated June 25, 2026. S&P rates it A+ (Strong) as of April 8, 2026.
About Hans Goldstein: Independent retirement income specialist. CA Life License #4273294. NPN #20602398. Phone: 213-414-2808. Email: hans@hansgoldstein.com.
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Sources (checked October 4, 2026)
- Ameritas, ApexAdvantage rate sheet (AL1266, rev. 10/5/2026): rates effective October 5, 2026
- Ameritas, ApexAdvantage consumer brochure (AL1263, rev. 03/23): checked October 4, 2026
- Ameritas, ApexAdvantage past performance insert (AL1267, rev. 03/25): minimum participation rate, checked October 4, 2026
- Ameritas, Indexed Annuities product page: checked October 4, 2026
- Ameritas, Income 10 Index Annuity brochure (AN 1538 5-25): checked October 4, 2026
- Ameritas, Income 10 product and calculator page: checked October 4, 2026
- Ameritas, Financial Strength page: AM Best analysis June 25, 2026; S&P April 8, 2026
- Ameritas news release, ApexAdvantage fixed index annuity launches: July 18, 2022
- Ameritas, FlexMark Select rate sheet (AL1017, rev. 10/5/2026): applications on or before February 13, 2026
- Ameritas, FlexMark Select product-specific features (AL1005, rev. 08/20): checked October 4, 2026
Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.