Annuity Review Carrier: The Ohio State Life Insurance Company (marketed via NexAnnuity) AM Best: B+ (Good), "bbb-" Long-Term ICR Last updated: 2026-06-27

Ohio State Life Nex MYGA 3 Review (2026)

Quick take: Ohio State Life Nex MYGAs market through the NexAnnuity platform — an important distinction: NexAnnuity is the marketing and product platform, not the issuing carrier. The Ohio State Life Insurance Company is the actual carrier and the entity whose B+ AM Best rating backs your guarantee. Per AnnuityEducator, the Nex MYGA 3 currently shows 5.60–5.75% APY.

TL;DR — Ohio State Life Nex MYGA 3

3-year rate: 5.60–5.75% APY (per AnnuityEducator, June 2026)
5-year rate: 5.75% APY
7-year rate: 5.00% APY
10-year rate: 5.00% APY
AM Best: B+ (Good), Outlook Stable; Long-Term Issuer Credit Rating "bbb-"
Carrier vs platform: Ohio State Life is the issuing carrier; NexAnnuity is the marketing platform
Best for: Buyers wanting a short 3-year MYGA at moderate yield with eyes-open acceptance of B+ credit

Carrier Financial Strength Ratings · The Ohio State Life Insurance Company

AM Best

B+

S&P

—

Moody's

—

Fitch

—

AM Best assigns Ohio State Life a Financial Strength Rating of B+ (Good) with a Stable outlook, and a Long-Term Issuer Credit Rating of "bbb-" (per AM Best press release, refnum 33064). B+ is the upper end of the "B" band but below the B++ tier.

Renewal Rate Integrity: Limited Data

NexAnnuity platform is relatively new in the broker channel. In-force renewal history for the platform's MYGA book is not yet established.

Customer Service: Limited Data

Service is provided through the NexAnnuity platform with Ohio State Life as carrier of record. Public buyer feedback data is sparse.

Ratings reflect publicly-reported AM Best assessments as of 2026. MYGAs are backed by carrier general account assets plus state guaranty association coverage (limits vary by state, typically $250K–$500K). Always confirm current ratings against carrier filings and AM Best (ambest.com) before purchasing.

Live Rate Snapshot — June 2026

Per AnnuityEducator's Ohio State Life product reviews:

Term	APY	Source
3-year	5.60–5.75%	AnnuityEducator
5-year	5.75%	AnnuityEducator
7-year	5.00%	AnnuityEducator
10-year	5.00%	AnnuityEducator

Notable rate-curve oddity: 3 and 5 year rates exceed 7 and 10 year rates by 60–75 bps. This is unusual for MYGAs — typically longer terms pay higher rates. The inversion likely reflects either NexAnnuity's product-positioning choice (concentrate yield on shorter terms) or hedging-cost differences across the curve.

Carrier financial strength — the NexAnnuity vs Ohio State Life distinction

One of the most common buyer confusions on this product line is the difference between the carrier and the platform. NexAnnuity is NOT an insurance carrier. NexAnnuity is a relatively new annuity marketing and product platform (see nexannuity.com) that distributes products issued by partner insurance carriers. The Ohio State Life Insurance Company is the actual issuing carrier on the Nex MYGA 3.

What this means in practice:

The AM Best rating that matters is Ohio State Life's: B+ (Good), Stable outlook, Long-Term ICR of "bbb-".
Your contract is with Ohio State Life Insurance Company. Your claim, in any scenario, is against Ohio State Life and is subject to your state's guaranty-association coverage.
NexAnnuity is the brand and the buying experience. Modern platform, simpler quote/apply process — but the underlying credit is Ohio State Life's.
Don't conflate platform freshness with carrier rating. The platform may feel modern; the carrier rating is what determines your downside.

Per AM Best's press release (refnum 33064), the B+ rating reflects Ohio State Life's balance-sheet strength and operating performance assessed against the broader life-insurance industry. The "bbb-" Long-Term Issuer Credit Rating is the lower end of investment grade. Stable outlook means AM Best does not anticipate a rating change in the near term.

Product mechanics

Surrender schedule

3-year MYGAs typically carry a 3-year declining surrender schedule. Industry-standard pattern: approximately 9% / 8% / 7% / 0%. Confirm exact percentages on the Ohio State Life contract form for your state.

Free withdrawal terms

Industry-standard 10% of accumulation value per contract year after the first contract year. Some Nex products allow 10% in year 1; confirm on the contract form.

Market Value Adjustment (MVA)

Most Nex MYGAs include a Market Value Adjustment on early surrender above the 10% free band. Two-way MVA. MVA does not apply to penalty-free withdrawals, RMDs, or death benefit.

Minimum guaranteed rate

Not consistently disclosed in public AnnuityEducator listings. Typical industry floor for B+ MYGAs is 1.00–2.00%. Confirm on the contract form before applying.

Premium minimum & issue ages

Per Nex marketing materials, minimums are competitive ($10,000–$25,000 typical). Issue ages typically 0–85. Confirm state-by-state.

Death benefit

Full accumulation value at death of owner during the guarantee period (no surrender charges, no MVA).

All Term Variants — Nex MYGA by Ohio State Life (Updated June 28, 2026)

NexAnnuity, powered by The Ohio State Life Insurance Company (AM Best B+), offers the Nex MYGA in four guarantee periods. Full lineup with current rates:

Term	Current APY	Premium minimum	Best for
3-year (this review)	5.75%	$10,000	CD-replacement rung; reladder optionality in 2029
5-year	5.75%	$10,000	Flat-curve sweet spot — same APY as the 3-year for 2 extra years of lock; only worth it if you genuinely don't need liquidity
7-year	5.00%	$10,000	Pre-retiree planning where 7-year fits a known income start date; lower APY than 3/5-year flags an inverted curve
10-year	5.00%	$10,000	Long-dated lock at B+ credit; for 10-year horizons, A-rated options (Athene MaxRate, F&G Guarantee Platinum) at 5.85–6.25% are cleaner

Term selection guide: The Nex MYGA rate curve is inverted past 5 years — you're penalized 75 bps for taking the 7 or 10 year over the 3 or 5 year. That's an unusual and important signal: the carrier is effectively telling you not to lock duration here. For most buyers the 3-year at 5.75% is the obvious play (same APY as the 5, half the surrender exposure). The 5-year only makes sense if you're certain you won't touch the money — you give up liquidity for no additional yield. Avoid the 7 and 10 year Nex; better A-rated alternatives exist at similar or higher rates.

Sources: AnnuityEducator (annuityeducator.com/reviews/the-ohio-state-life-insurance-company/fixed/nex-multi-year-guaranteed-annuity), PlanEasy (planeasy.com/fixed-annuity-rates/ohio-state-life/), NexAnnuity product page (nexannuity.com/fixed-annuities/). Rates verified June 28, 2026; subject to change.

The inverted curve matters — let's quote it properly: Call 213-414-2808 and Hans will pull both the 3-year and the 5-year Nex side-by-side against same-term A-rated competitors so you can see the actual rating-vs-yield tradeoff at your state.

What we like

Short 3-year term keeps optionality high. For buyers who want to lock yield short and reassess at maturity, the 3-year point is the sweet spot.
Modern buying platform. NexAnnuity's distribution platform is genuinely cleaner than legacy carrier portals.
Stable AM Best outlook. No anticipated rating downgrade in the near term.
State guaranty association coverage applies. Same framework as any licensed carrier.
Decent 3-year rate. 5.60–5.75% APY for 3 years is competitive within the B+ tier.

What we don't

B+ is the lowest of the "B" bands we cover. Below B++ (Gulf Coast Life, Nassau) and well below A-. The lowest investment-grade tier most independent advisors will quote.
Inverted rate curve. 3 and 5 year rates exceed 7 and 10 year rates — unusual and worth understanding before signing.
Carrier/platform confusion risk. Buyers must understand that Ohio State Life is the carrier, not NexAnnuity.
Limited in-force renewal history. Platform is too new for meaningful renewal-integrity grading.
Modest yield premium vs A-rated 3-year MYGAs. A-rated peers (Aspida, Oceanview) currently offer ~5.25–5.50% on 3-year, so the B+ premium is ~25–50 bps. Modest.

Who this is best for

Persona: A buyer placing $25K–$150K of short-duration fixed-income money who wants a clean 3-year MYGA at a competitive rate, understands the NexAnnuity/Ohio State Life carrier distinction, accepts B+ credit risk within state guaranty limits, and likes the short 3-year reassessment window.

Not a fit: Buyers who want only A-rated paper. Buyers placing more than the state guaranty limit in a single carrier. Buyers who don't understand the carrier vs platform distinction. Buyers who want longer-term lock (7–10 year rates on this product are 60–75 bps below the 3-year, which doesn't reward duration).

vs. competitor table (3-year MYGAs)

Product	AM Best	3-yr APY	Notes
Ohio State Life Nex MYGA 3	B+	5.60–5.75%	Inverted curve; platform-distributed
Aspida Synergy Choice 3	A-	~5.40%	Mainstream A- option
Oceanview Harbourview 3	A-	~5.30%	Established A- option
Atlantic Coast Life Safe Harbor 3	B / B++	~5.85%	Higher B-tier yield
Nassau Simple Annuity 3	B++	~5.55%	Comparable B-tier

Comparison rates approximate, per AnnuityEducator, AnnuityAdvantage, and Annuity.org public leaderboards June 2026.

Goldstein Complexity Index

A core part of every Goldstein review. The more complex an annuity, the worse the rating in this dimension — because complexity is where buyers get burned (confusing riders, hidden fee structures, surrender penalties that surprise people, benefit bases mistaken for cash). Simple products (SPIAs, MYGAs) score low; products with stacked bonuses + income riders + MVA + multiple crediting strategies score high.

This product's score: 44/100 — Grade B (Moderate)

Product mechanics are standard MYGA, but the carrier-vs-platform distinction adds an explanatory burden buyers frequently get wrong. The inverted rate curve (3yr > 10yr) is also unusual enough to warrant understanding before signing.

Score breakdown

Dimension	Score (1–10)	What this measures
Riders	1/10/10	No optional riders.
Crediting strategies	1/10/10	Single fixed rate for the guarantee term.
Surrender complexity	4/10/10	Standard 3-year declining + MVA.
Benefit-base separation	1/10/10	Single accumulation value.
Carrier/platform clarity	8/10/10	NexAnnuity vs Ohio State Life confusion is real and common. Buyers must understand who the carrier actually is.

How to read this

A+/A (0–40): You can understand what you bought. Pure MYGA, SPIA, or accumulation FIA. Low risk of mis-selling.
B (41–60): Read the contract carefully and get a second-opinion review before signing.
C (61–80): Many buyers don't fully understand what they own. Common mis-selling vectors.
D (81–100): Demands an independent producer second opinion before signing.

Sources cited in this review

All rate data sourced from third-party aggregators and carrier-direct disclosures as of June 2026. Rates change monthly; reconfirm before purchasing.

Frequently Asked Questions

Is NexAnnuity an insurance carrier?

No. NexAnnuity is an annuity marketing and product distribution platform. The Ohio State Life Insurance Company is the actual issuing carrier on the Nex MYGA 3 and the entity whose AM Best B+ rating backs your guarantee. Your contract is with Ohio State Life.

Why is the 3-year rate higher than the 10-year rate?

Unusual but not unprecedented. The likely drivers are NexAnnuity's product-positioning choice (concentrate yield on the most competitive segment of the market) and hedging-cost differences across the curve. For buyers, the practical implication is that the 3-year is the "sweet spot" on this product line.

How does B+ compare to A-?

B+ is the lowest tier in the B band that AM Best rates as adequate; A- is "Excellent." The step from A- to B+ is meaningful. B+ carriers are generally rated by AM Best as more vulnerable to adverse economic and underwriting conditions than A-rated peers.

Does state guaranty association coverage still apply?

Yes. Ohio State Life is a licensed insurance carrier, so the same state guaranty-association framework applies — typically $250K in present value of annuity benefits per carrier per state. Confirm your state's exact limit at nolhga.com.

Can I do a 1035 exchange into this product?

Yes — the Nex MYGA 3 accepts 1035 exchanges from existing non-qualified annuities. Qualified-to-qualified transfers (IRA, Roth IRA) are also accepted.

What's the surrender charge if I withdraw early?

Industry-standard 3-year MYGA pattern is approximately 9% / 8% / 7% / 0% declining, plus MVA on amounts above the 10% free-withdrawal band. Confirm exact percentages on the Ohio State Life contract form for your state before applying.

How does NexAnnuity make money if they're not the carrier?

NexAnnuity earns platform/distribution fees from the issuing carriers. This is built into the product economics; it does not add a separate fee to buyers.

Should I just take an A-rated 3-year MYGA instead?

If the yield gap is only 25–50 bps over an A-rated alternative, most buyers should take the A-rated option. For Ohio State Life Nex 3, the case is strongest if you specifically want the platform experience and are sizing within state guaranty limits.

Related Goldstein research

Best MYGA Rates 2026 — current top-of-market rates across all carriers
Why a MYGA Is Best for Most Retirees — the case for boring
Renewal Rate Integrity — Grading Carriers — who keeps in-force rates competitive
1-Year MYGA vs CD — 1035 Exchange Flexibility
CD vs MYGA Comparison
AM Best Ratings Explained for Annuity Buyers

Bottom line

Ohio State Life Nex MYGA 3 at 5.60–5.75% APY is competitive within the B+ tier, but the modest yield premium over A-rated 3-year MYGAs (~25–50 bps) doesn't strongly reward the credit step-down. The product makes the most sense for buyers who specifically want the NexAnnuity platform experience, understand the carrier-vs-platform distinction, and are placing $25K–$150K within state guaranty limits. For most buyers, an A-rated 3-year MYGA at ~5.30–5.50% is the cleaner choice.

Get an independent quote on this product

Hans is licensed in CA and writes through multiple A-rated carriers.

MYGAs are short-listable in 10 minutes if you give an independent broker the carrier name, term, and premium amount. Hans will pull side-by-side quotes from comparable A- and A-rated alternatives, walk you through the surrender schedule and MVA in plain English, and answer the renewal-rate-integrity question for the carrier you're considering.

Drop your info — within 24 hours, you'll get a written independent comparison, two competing quotes at the same term, and a 15-minute no-pressure call if you want one.

Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers

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Disclosure

This review reflects publicly available product materials, third-party rate aggregators (Annuity.org, AnnuityAdvantage, AnnuityEducator, PlanEasy, ImmediateAnnuities.com), and carrier filings as of the date stated above. Annuity rates, surrender schedules, free-withdrawal terms, MVA factors, and minimum guaranteed rates change frequently — typically monthly or upon contract refile. Always confirm current values against the most recent carrier disclosure document and the actual contract before purchasing. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific product. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated carriers; the producer's specific appointment status with the carrier discussed in this review may vary, and this review is not an endorsement of carrier appointment. No compensation has been received from any carrier in connection with the publication of this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity. AM Best, S&P, Moody's, Fitch, and KBRA ratings are subject to change; lower-rated carriers (B/B+/B++) carry higher counter-party risk and may be supported in part by state guaranty associations, but coverage limits vary by state and are not a substitute for carrier financial strength.