Company Information
Company Name
Axonic Insurance
Product Name
Axonic Waypoint 7 MYGA
Description
This is a longer term, single-premium annuity with a seven-year rate lock. Both high band ($100K and above) and low band ($20K-$99.9K) rates are available. At maturity, owners have a 30-day window to withdraw, transfer, or exchange their full account value.
AM Best Rating
A-
URL
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Free Withdrawals Yr1 / Yr2+
0% / 10%
Rate
5.20%
Term
7 Years
Minimum Investment
$ 100,000
Maximum Investment
$1,000,000 without prior approval
Maximum Age
89
Surrender Schedule
9%, 8%, 7%, 6%, 5%, 4%, 3%, 0%
What We Like About This Annuity
Rates with Axonic are often near the top nationally. Free liquidity of 10% begins in year two. The policy also offers terminal illness and nursing home waivers.
Notable Features
Tax-deferred growth and full contract value at passing. Longer, seven year surrender schedule. Non-qualified, IRA, and Roth IRA funds accepted. Joint ownership available for spouses.
Other Popular Products
Axonic specializes in guaranteed fixed annuities only of 2-10 year terms. They offer these policies in the US and abroad.
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About Axonic Insurance Services
Founded in 2022, Axonic Insurance Services is a new annuity carrier with a strong AM Best rating. They specialize in multi-year guaranteed annuities offered in the US and abroad.
The company’s stated mission is to offer high-quality annuities and investments based on strong fundamentals and expertise. They serve both individuals and institutional investors.