Goldstein Scorecard: B+ (dated October 4, 2026). See how it is graded.
Aspida WealthLock 7 MYGA Review: 6.00% for 7 Years at $100,000+ (Rate Sheet Updated October 1, 2026)
Written & reviewed by Hans Goldstein, EA, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Facts verified against Aspida’s WealthLock MYGA rate sheet, fact sheet and brochure on October 4, 2026 · Updated
Aspida WealthLock 7 is a 7-year multi-year guaranteed annuity from Aspida Life Insurance Company (AM Best A-, reaffirmed September 18, 2026). Aspida’s rate sheet updated 10/01/2026 shows 6.00% at $100,000+ and 5.85% from $25,000, locked for 7 years. Withdrawal charges run 9% down to 3%, with an MVA, and the 10% free withdrawal starts after the first anniversary. Ages 18 to 90; not sold in New York.
Correction: an earlier version of this page quoted 5.90% and 5.75% from a third-party site (effective 9/22/2026), listed a Fitch A- rating, and described surrender charges as “5 to 10% typical” and the free withdrawal as available every year.
Aspida’s rate sheet (10/01/2026) shows 6.00% and 5.85%; Aspida publishes AM Best and KBRA ratings only; the 7-year schedule is 9, 8, 7, 6, 5, 4, 3%; and the 10% free withdrawal starts after the first contract anniversary. Weiss, COMDEX, “Renewal Rate Integrity” and “Customer Service” grades were removed as unsourced.
CD vs MYGA, after tax
What $100,000 earns in 7 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 6.00%, Aspida WealthLock 7-year, the product on this page (AM Best A-, reaffirmed 9/18/2026), $100,000 and up, effective October 1, 2026 (Aspida rate sheet; not sold in New York).
| CD, interest taxed every year | $130,710 |
|---|---|
| MYGA, tax-deferred, before tax | $150,363 |
| MYGA after paying tax on all the interest at withdrawal | $139,283 |
| Tax deferral alone adds about | $1,548 |
| MYGA ahead of the CD, after tax | $8,573 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge.
In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
WealthLock rates by term (rate sheet updated October 1, 2026)
| WealthLock term | $25,000 to $99,999 | $100,000+ | Aspida hypothetical: $100,000, no withdrawals |
|---|---|---|---|
| 2-year | 4.30% | 4.45% | $109,098 |
| 3-year | 5.10% | 5.25% | $116,591 |
| 5-year | 5.65% | 5.80% | $132,565 |
| 7-year | 5.85% | 6.00% | $150,363 |
Per the rate sheet, guarantees are backed by the claims-paying ability of Aspida Life Insurance Company.
Also see: MassMutual Stable Voyage Rates
WealthLock 7 withdrawal charges
| Contract year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8+ |
|---|---|---|---|---|---|---|---|---|
| Withdrawal charge, 7-year | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 0% |
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Contract basics
| Feature | WealthLock 7 (per Aspida) |
|---|---|
| Issuer | Aspida Life Insurance Company, Durham, NC; brochure says Aspida is backed by Ares Management |
| Issue ages | 18 to 90, non-qualified and qualified |
| Premium | $25,000 minimum; $2,000,000 maximum (more with prior approval); single premium |
| Free withdrawal | Up to 10% of contract value per year after the first contract anniversary, no charge and no MVA |
| RMDs and interest withdrawals | Available after 30 days, no charge and no MVA; interest-only payouts monthly, quarterly, semi-annually or annually |
| MVA | Applies to excess withdrawals and surrender during the charge period; can be positive or negative; not applied to free withdrawals, RMDs, death benefit or waivers |
| Waivers | Nursing home (90 consecutive days, confinement starting at least 1 year after issue) and terminal illness (after the first anniversary): up to 100% |
| Death benefit | Full contract value, no withdrawal charge or MVA |
| After the term | Rate can change but never below the contract’s minimum guaranteed rate (not published); 100% available once charges end |
| Where sold | 49 states and DC; not New York |
Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength (AM Best) | A- | A- (Excellent), reaffirmed 09/18/2026 (Aspida financial professionals page). KBRA A-, positive outlook (07/21/2026). |
| Rate competitiveness | B+ | 6.00% for 7 years at $100,000+ (10/01/2026). Benchmark for A-rated-or-better 5-year MYGAs: about 5.50% to 6.05% on 10/14/2026; Aspida’s own 5-year is 5.80%. |
| Guaranteed floor | Incomplete | The minimum guaranteed rate after the term is in the contract, not in public documents. |
| Liquidity | B- | 9% to 3% charges over 7 years plus MVA; no free withdrawal in year 1 except RMDs and interest; 10% a year after the first anniversary. |
| Costs | A | No annual fee in the fact sheet or brochure. |
| Transparency | A- | Dated rate sheet, fact sheet and brochure are public; the post-term minimum rate is not. |
| Overall | B+ | Weighted toward financial strength, guaranteed floor and liquidity for a buyer who wants a known result. |
Get the current numbers for your amountor call 213-414-2808
Pros and cons
Pros: 6.00% for 7 years at $100,000+ on a dated carrier rate sheet; issue ages to 90; $2,000,000 maximum; RMDs and interest withdrawals after 30 days; nursing home and terminal illness waivers; full contract value at death; no annual fee. To see how an income annuity fits your RMDs and what it pays after tax, try the annuity calculator.
Cons: 7-year commitment with a 9% first-year charge and an MVA; no 10% free withdrawal until after the first anniversary; post-term minimum rate not published; AM Best A-, one notch below A; not sold in New York.
Who it’s for, and when to look elsewhere
Fits: a buyer with $100,000 or more who can leave the money for 7 years, wants a declared rate for the full term, and is comfortable with an A- insurer. The extra 0.20 points over Aspida’s own 5-year (6.00% vs 5.80%) is the price of two more years of charges.
Look elsewhere if: you may need more than 10% a year, you want the shorter WealthLock 3 (5.25% at $100,000+), you live in New York, or you want an A or higher rating. A MYGA locks a declared rate for the term.
For comparison, A-rated-or-better insurers were paying about 5.50% to 6.05% on 5-year MYGAs and the best nationally available 5-year CDs about 4.70% to 5.00% APY (MYGAs: public carrier rate sheets, October 14, 2026; CDs: Bankrate and Popular Direct, October 18, 2026). Current rates: MYGA rates.
Run your amount: MYGA growth calculator · MYGA vs CD after-tax calculator. Related: Aspida WealthLock MYGA overview · 7-year MYGA rates compared · Are annuities FDIC insured?
Questions to ask your agent
- Which rate tier applies to my premium, what is the rate-sheet date, and how long is the rate held after I sign?
- What is the guaranteed minimum rate after the 7-year term, in writing? It is in the contract, not in Aspida’s public documents.
- Show me the full surrender schedule by year for my state (9, 8, 7, 6, 5, 4, 3% in the brochure) and how the MVA would change a withdrawal today.
- What can I take out in year one (RMD and interest only), and what happens at the end of year 7 if I do nothing?
- How are you paid on this product? The commission comes from the insurer, is built into pricing and is not deducted from my premium. What percentage is it, and does the 7-year pay you more than the 3 or 5-year? (Background: how annuity commissions work.)
From my desk
With a 7-year MYGA, I check the end of the contract before the rate. Aspida’s brochure says the rate after the initial period can change but will not go below the contract minimum, and that minimum is not in the public documents. I want it on paper before the application, along with what happens if the owner does nothing at the end of year 7.
The number buyers most often misread on WealthLock is the free withdrawal. It starts after the first anniversary, not on day one; in year one only RMDs and interest withdrawals are free. Over a 7-year lock, that first-year gap and the 9% charge matter more than 0.15 points of rate.
How I compare it: against Aspida’s own 5-year (5.80%) and against other A-rated 7-year MYGAs on a dated sheet. Hypothetical, not a quote: Aspida’s sheet shows $100,000 at 6.00% reaching $150,363 in 7 years; at 5.80% for 5 years it reaches $130,696, with the money free two years sooner.
Frequently asked questions
What does Aspida WealthLock 7 pay?
On Aspida’s WealthLock MYGA rate sheet last updated 10/01/2026, the 7-year guaranteed rate is 6.00% for premiums of $100,000 and over and 5.85% for $25,000 to $99,999. Aspida’s own hypothetical shows $100,000 growing to $150,363 over 7 years with no withdrawals. Rates are subject to change.
What is the WealthLock 7 surrender schedule?
Withdrawal charges of 9%, 8%, 7%, 6%, 5%, 4% and 3% in years 1 to 7, then 0%, per Aspida’s WealthLock brochure and fact sheet. Aspida notes that withdrawal charges may vary slightly by state. A market value adjustment, up or down, applies to withdrawals above the free amount and to surrenders during the charge period.
How much can I withdraw for free?
After the first contract anniversary, up to 10% of the contract value each year with no withdrawal charge or MVA. Required minimum distributions and interest-only withdrawals are available after 30 days. There is no 10% free withdrawal in the first contract year.
Who can buy it, and how much?
Issue ages 18 to 90, qualified or non-qualified. Premium $25,000 minimum and $2,000,000 maximum; more with Aspida’s prior approval. Aspida Life is licensed in 49 states and DC, not New York.
What happens after the 7 years?
Aspida’s brochure says the rate after the initial guarantee period can change but will never be lower than the minimum guaranteed interest rate stated in the contract, and that you can withdraw 100% once the withdrawal charge period ends. The minimum rate itself is not published; ask for it in writing.
What is Aspida’s AM Best rating?
A- (Excellent), reaffirmed on September 18, 2026, per Aspida’s financial professionals page. KBRA rates Aspida A- with a positive outlook (Aspida release, July 21, 2026).
Sources (checked October 4, 2026)
- Aspida, WealthLock MYGA rate sheet (25017): last updated 10/01/2026
- Aspida, WealthLock MYGA fact sheet (25032): 07/25
- Aspida, WealthLock MYGA brochure (23014): 07/26
- Aspida, fixed annuities page (terms offered): checked October 4, 2026
- Aspida, financial professionals page (AM Best reaffirmed 9/18/2026): checked October 4, 2026
- Aspida, KBRA affirms A- with positive outlook: July 21, 2026
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) and is not affiliated with Aspida. Rates are copied from Aspida’s rate sheet with its date; they change often and vary by state and premium. Examples labelled hypothetical are illustrations, not quotes.
Get a second opinion before you sign
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MYGAs lock in your rate for the full term. Before you commit, is this carrier's rate actually competitive vs. the full market? Is the rating tradeoff worth it? Before signing, get an independent review of the rate, surrender schedule, and carrier strength.
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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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.