Our Professional Opinion
Aspida is an okay annuity company with some products worth comparing. Aspida Life Insurance Company has an A− (Excellent) rating from AM Best, which meets our minimum standard. It is also a relatively young annuity company, so we pay close attention to the length of the commitment.
We like Aspida’s fixed annuities when their guaranteed rates are competitive. Some allow you to choose how much access you want, but adding withdrawal flexibility can reduce your interest rate. If you have other money available for emergencies, paying for access you don’t expect to use may not make sense.
For lifetime income, we like that some Aspida annuities offer a guaranteed increase in the value used to calculate future payments. That is the type of design we prefer when you plan to start income years from now. The actual guaranteed paycheck still needs to be competitive with other strong insurers.
What We Like
- Meets our minimum rating: Aspida’s A− AM Best rating qualifies it for consideration.
- Fixed-rate choices: Its fixed annuities offer different guarantee periods and access options.
- Familiar indexes: Some indexed annuities offer the S&P 500 and Nasdaq-100, which we prefer over complicated engineered indexes.
- Guaranteed income growth: Some income riders guarantee growth in the income calculation while you wait to begin withdrawals.
What We Don’t Like
- Advisory fees on fixed annuities: We don’t recommend paying an ongoing advisory fee just to hold a fixed annuity. There is no investment portfolio inside it that needs to be actively managed.
- You may pay for access: Some withdrawal options reduce the guaranteed rate, even if you never use them.
- Indexed terms can change: Caps and participation rates on some strategies are not locked for the entire surrender period.
- Bonuses come with tradeoffs: A bonus may vest over time and come with weaker growth potential or other restrictions.
- A shorter track record: Aspida is relatively new compared with many established annuity companies.
Explore our individual Aspida annuity reviews using the links below to see what we like, what we don’t like, and which products may be worth considering.
How Long Has Aspida Been Around?
Aspida Life Insurance Company was founded in 2021 and is headquartered in Durham, North Carolina. It operates as a wholly owned subsidiary of Aspida Holdings Ltd., which is indirectly owned by Ares Management Corporation, a global asset manager with over $300 billion under management. While Aspida is still relatively young, its corporate backing provides the financial strength and resources needed to compete in the annuity marketplace.
Financial Ratings & Company Strength
- A.M. Best: A-
- KBRA: A-
- Comdex Score: 57
- Founded: Aspida Life traces its legal foundation to earlier company structures, but began selling annuities in 2021, making it one of the youngest active retail insurers in the market
Aspida’s A ratings indicate strong capitalization, but its limited ratings from major agencies and moderate Comdex score place it in a mid-tier financial strength category. The company simply does not yet have the long-term stability evidence that legacy life insurers do.
What Products Does Aspida Offer?
Aspida specializes in annuity-based insurance products designed to help consumers accumulate and protect retirement income:
Multi-Year Guaranteed Annuities (MYGAs)
These offer a fixed interest rate for a guaranteed term, typically 2 to 7 years. MYGAs are ideal for conservative investors who want bond-like returns with tax-deferred growth. Aspida’s MYGA lineup includes:
- Synergy Choice
- WealthLock Accumulator
- WealthLock Preferred
Fixed Indexed Annuities (FIAs)
FIAs offer interest based on the performance of a market index, with no risk of loss to principal from market downturns. Options include:
- Synergy Choice Max
- WealthLock Accumulator FIA
These annuities often include income riders that offer guaranteed lifetime withdrawal benefits (GLWBs), allowing you to secure lifetime income without losing access to your money.
Our Aspida Annuity Reviews
The Importance of Comparing Premium Rates, Interest Rates, and Income Payouts
Whether you’re considering a MYGA or an FIA, not all annuity products are equal. Rates vary between companies and even between contract terms with the same company. That’s why it’s critical to:
- Compare premium requirements – Some companies require higher minimum deposits to access top-tier rates.
- Evaluate interest rates – Fixed annuities offer guaranteed growth, but the rate you lock in matters. A difference of even 0.5% annually can significantly affect your long-term gains.
- Review income payouts – If you add an income rider, check how much annual income it guarantees. Payout rates differ based on your age, deferral period, and contract type.
These comparisons are essential to get the most from your annuity purchase and protect your retirement income from inflation and market volatility.
Who Needs Aspida—and Who Doesn’t?
You Might Need Aspida If:
- You want competitive MYGA or FIA rates from a company backed by a global investment firm.
- You’re focused on long-term retirement income and want options with income riders.
- You’re open to working with a newer insurer that specializes in annuity strategies.
You Might Not Need Aspida If:
- You prefer insurers with decades of performance history and consumer familiarity.
- You need a full suite of insurance products beyond annuities, such as health or comprehensive life insurance.
- You’re looking for a guaranteed product with built-in long-term care benefits (Aspida doesn’t currently offer those as standard options).
Other Insurance-Based Solutions to Consider
If income security or longevity protection is a concern, you might also want to explore:
- Fixed Index Annuities with Long-Term Care Benefits – For retirement income and long-term care planning.
- Deferred Income Annuities (DIAs) – For those who want higher future income by delaying withdrawals.
- Life Insurance – A term or permanent policy can protect your principal while you use annuities to create income.
Pairing a guaranteed income annuity with a life insurance policy is a strong strategy to protect both lifetime income and the legacy you leave behind.
Can Aspida Help You Achieve Your Retirement Goals?
Aspida offers solid fixed and indexed annuity options with strong financial backing from Ares Management. Their interest rates and income rider features are competitive, but being a new insurer, they don’t have the long track record of some older institutions. Still, if you’re focused on fixed or indexed annuity products and want newer solutions with institutional-level backing, Aspida is a credible choice.
Contact our brokers to compare Aspida with the top-rated annuity providers in the country.
Book A Free Consultation
Get help from a licensed financial professional. This service is free of charge.
Let Us Answer Your Questions
Not quite ready for a meeting, but you have a question that needs answering? We’re happy to help. Leave an inquiry below, and one of our staff will respond via email.