MYGA from Ibexis

[pletal]

Good Morning,. I came across this Annuity offer last night from Ibexis. Never heard of them, Has anyone dealt with them? The rates are rather enticing and they look to have a good rating. 100K plus 6.15% for 5 years and 6% for 7 years. Have many Cd's coming due and am looking for deferred taxes and a decent rate


Thanks

 

[jazz4cash]

That’s an interesting find. I don’t like the fact that their surrender charges are not transparent. Free withdrawal allowance looks good. I don’t ever recall seeing them on the annuity broker sites I use. I personally would not use the index linked option.

 

[teej1985]

See this post about Ibexis. They market simple interest rates rather than compounded, so you would have to math it out to compare to most other MYGAs.

https://www.bogleheads.org/forum/viewtopic.php?p=6964965#p6964965

 

[Rianne]

See this post about Ibexis. They market simple interest rates rather than compounded, so you would have to math it out to compare to most other MYGAs.

https://www.bogleheads.org/forum/viewtopic.php?p=6964965#p6964965

My ignorance here: Which fixed-income investment pays compound interest?

 

[jazz4cash]

My ignorance here: Which fixed-income investment pays compound interest?

Offhand, brokered CDs and bonds DO NOT compound interest. Anything that pays out interest rather than reinvesting the interest like bank CD’s, savings accounts, etc

 

[jazz4cash]

See this post about Ibexis. They market simple interest rates rather than compounded, so you would have to math it out to compare to most other MYGAs.

https://www.bogleheads.org/forum/viewtopic.php?p=6964965#p6964965

Good catch. I would avoid. Here’s a calculator.

https://www.aprtoapy.com/