Fixed Indexed Annuity

OrionShield 7 with Premium Bonus

AuguStar Financial

5.25%

Best Cap

10%

Free W/D

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual point-to-point cap

5.25% cap on S&P 500

An accumulation-focused, A-rated, seven-year fixed indexed annuity from AuguStar Financial built around a one-year S&P 500 annual point-to-point cap plus a wide menu of proprietary participation-rate strategies, sweetened by a day-one premium bonus whose incremental eight-year vesting schedule runs one full year past the end of the surrender window.

1-year termAdvisorWorld + CANNEX data

Best fit

Accumulation-focused buyers (outside New York) committing to a full eight-year horizon so the premium bonus fully vests, who want a recognizable one-year S&P 500 annual point-to-point cap alongside a wide menu of proprietary participation-rate strategies, plus the principal-floor comfort of a Guaranteed Accumulation Protection rider, from an A-rated carrier.

AM Best

A Excellent

Surrender period

7 years

Free withdrawal

10%/yr

Availability

51 jurisdictions (excl. New York)

Featured crediting strategies

Caps, participation rates, and declared rates are shown separately.

Index / strategyRate mechanicsTermPremium

S&P 500

S&P 500 Index

5.25% cap rate

Rate varies by premium band.

1-year term

Up to $150,000

Fixed Account

2.45% declared rate

Rate varies by premium band.

1-year term

Up to $150,000

+ 6 volatility-controlled index options (Nasdaq Night, S&P 500, Balanced...)

Product analyst notes

How to think about this contract

Why it can stand out

Crediting menu includes a recognizable S&P 500 annual point-to-point cap with no strategy fee, so this contract gives a buyer at least one clean like-for-like comparison line against other FIAs on this site rather than only proprietary participation-rate strategies.
A day-one premium bonus is applied to purchase payments at a meaningful headline rate, lifting the account value used by every crediting strategy from the contract start.
Index lineup pairs the S&P 500 with a wide menu of proprietary volatility-controlled and excess-return indexes — Nasdaq Night Owl, S&P 500 Dynamic Intraday TCA ER, Dynamic Balanced Asset 10, Multi-Asset Dynamic Managed 5, S&P MARC 5% Excess Return, and Strategic Dynamic Balanced Asset 8 — giving the buyer multiple high-participation alternatives alongside the like-for-like S&P comparison.
A Guaranteed Accumulation Protection (GAP) rider is attached at no separately listed fee as the contract's Guaranteed Minimum Account Value feature, providing a contractual floor on accumulated value that a pure cap-and-participation chassis does not, alongside contractual minimum-guarantee floors on the cap, the fixed-account rate, and participation that bound the renewal downside.

What to confirm

The premium bonus is not free — it vests on an incremental eight-year schedule with a zero-vesting first year, six middle years of small incremental steps, and the single largest vesting step falling in year eight, so full vesting lands one full year AFTER the seven-year surrender window closes. A buyer who walks at the end of the surrender window (year seven) still has a substantial unvested slice of the bonus that is forfeited; a buyer who walks earlier in the surrender window forfeits substantially more, on top of the surrender charge and any market-value adjustment.
This is an accumulation-focused contract — there is no optional lifetime-income GLWB rider attached in the live data and no Protected Income Value chassis. The GAP rider protects minimum account value, not lifetime withdrawal income. Do not buy this contract for a guaranteed lifetime payout — its job is index-linked growth over the seven-year surrender term.
Most of the non-S&P index options are proprietary, volatility-controlled or excess-return indexes. Their participation rates can look high in absolute terms but are not directly comparable to an S&P 500 cap, and several have shorter live-track histories than the S&P 500 itself — evaluate each strategy on its own merits rather than headline participation alone.
The standard death benefit on this contract pays cash surrender value, not account value or a rolled-up income base — heirs receive what a buyer would receive on a non-penalty surrender, which can be materially lower than an account-value-based death benefit on a competing contract, particularly during the surrender window when the bonus is only partially vested. New York residents are not eligible for this filing.

Not ideal for

Buyers who need a contractually guaranteed lifetime withdrawal rate from a GLWB rider, want a Protected Income Value income mechanism, need a plain MYGA-style declared rate, require short-surrender liquidity, plan to exit at or before the end of the seven-year surrender window (the premium bonus does not fully vest until year eight), require an account-value-based death benefit, or need a terminal-illness surrender-charge waiver — none of those are what this contract is built to deliver. New York residents are not eligible for this filing.

All crediting strategies

View rate listings (16 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Par: 146% · 1-yr

Multi-Asset Dynamic Managed 5 Index

participation