Top Multi-year Guaranteed Annuity Rates as of mm/dd/yyyy

Includes both fee and non-fee-based annuities

Top Rates in your state as of mm/dd/yyyy

Includes both fee and non-fee-based annuities

Rate Guaranteed # Years

Fixed rate annuity products.
Company Rating Product Name Minimum Premium Free Withdrawals Guaranteed Rate Availability
Guarantee Period: 3 years
Upstream Life Insurance Company C++ Secure Legacy MYGA $10,000.00 6.00%
Aspida Life Insurance Company A- Aspida Advisory MYGA $100,000.00 5.50%
Aspida Life Insurance Company A- Aspida Advisory MYGA $25,000.00 5.35%
Guarantee Period: 5 years
Upstream Life Insurance Company C++ Secure Legacy MYGA $10,000.00 5.95%
Aspida Life Insurance Company A- Aspida Advisory MYGA $100,000.00 5.65%
Wichita National Life Insurance B+ Security 5 MYGA $10,000.00 5.55%
Guarantee Period: 7 years
Aspida Life Insurance Company A- Aspida Advisory MYGA $100,000.00 5.65%
Aspida Life Insurance Company A- Aspida Advisory MYGA $25,000.00 5.50%
Heartland National Life Insurance Company B++ Secure Rate 10 $5,000.00 5.45%
Guarantee Period: 10 years
Atlantic Coast Life B+ Safe Harbor Bonus Guarantee $5,000.00 5.65%
Heartland National Life Insurance Company B++ Secure Rate 10 $5,000.00 5.55%
Upstream Life Insurance Company C++ Secure Legacy MYGA $10,000.00 5.40%

Guarantee Period: 3 years

Company Upstream Life Insurance Company
Rating C++
Product Name Secure Legacy MYGA
Min. Premium $10,000.00
Free Withdrawals
Guaranteed Rate 6.00%

Guarantee Period: 5 years

Company Upstream Life Insurance Company
Rating C++
Product Name Secure Legacy MYGA
Min. Premium $10,000.00
Free Withdrawals
Guaranteed Rate 5.95%

Guarantee Period: 7 years

Company Aspida Life Insurance Company
Rating A-
Product Name Aspida Advisory MYGA
Min. Premium $100,000.00
Free Withdrawals
Guaranteed Rate 5.65%

Guarantee Period: 10 years

Company Atlantic Coast Life
Rating B+
Product Name Safe Harbor Bonus Guarantee
Min. Premium $5,000.00
Free Withdrawals
Guaranteed Rate 5.65%

Check Top Rates in Your State

Understanding Fixed Annuities

Fixed annuities, also known as multi-year guaranteed annuities, are a popular alternative to CDs as they typically provide a higher rate of return. The key feature of fixed annuities is the guarantee of both principal and interest, which are insulated from market fluctuations. This makes them a low-risk option compared to variable annuities or other investment products. However, they also come with certain limitations, such as lower returns compared to other investments and potential penalties for early withdrawals. Understanding these factors is crucial for determining whether a fixed annuity aligns with your financial goals.

How to Compare Fixed Annuities

Comparing fixed annuities involves looking at a few key factors to help you choose the best option for your financial goals. Start by comparing the interest rates offered by different insurance companies, as this rate determines how much your money will grow over time. Be sure to be on the lookout for the top fixed annuity rates! Next, consider the length of the surrender period, which is the time you must wait before you can withdraw your money without paying a penalty. Shorter surrender periods offer more flexibility, but they might come with lower interest rates. Also, check the fees and any additional features, such as death benefits or inflation protection, which can add value to the annuity. You’ll also want to make sure the insurance company offering the annuity has a strong financial rating, as this indicates they are reliable and likely to meet their long-term commitments. By considering these factors, you can find the best-fixed annuity for your retirement goals.

About Multi-year Guaranteed Annuity (MYGA) Rates

Fixed annuities are often referred to as Multi-Year Guaranteed Annuities (MYGAs), which are a specific type of fixed annuity that guarantees a fixed interest rate for a set period, typically ranging from 3 to 10 years. The "multi-year" aspect means that once you purchase the annuity, the interest rate is locked in for the entire term, providing predictable and stable growth. MYGAs are popular because they offer higher interest rates than traditional savings accounts or certificates of deposit (CDs) while still providing the security of a fixed return. At the end of the guaranteed period, you can either withdraw your money, possibly reinvest in another MYGA, or convert it into a different type of annuity. MYGAs offer principal protection with the added benefit of knowing exactly how much your investment will grow over a specified period.

Fixed Annuity FAQs

What are the main differences between fixed annuities and certificates of deposit (CDs)?

The main differences are their purpose, interest rates, and tax treatment. Fixed annuities are insurance products, often for retirement, and typically offer higher interest rates than CDs. Banks offer CDs as savings products with a fixed interest rate for a set term. Unlike CDs, the interest earned on fixed annuities grows tax-deferred until you withdraw the money.

What determines the interest rates offered on fixed annuities?

The broader economic environment primarily influences interest rates on fixed annuities, particularly prevailing interest rates set by the 10-year U.S. Treasury. Insurance companies can offer higher rates on fixed annuities when market interest rates are high. Conversely, when market rates are low, annuity rates also tend to be lower.

When can I start making withdrawals from my fixed annuity?

You can typically start withdrawing from your fixed annuity at any time, but doing so during the surrender period (the first few years after purchasing the annuity) may result in surrender charges. If you make withdrawals before age 59½, you might incur a 10% early withdrawal penalty from the IRS, along with ordinary income taxes on the withdrawn amount.

What are surrender charges, and how do they work?

Surrender charges are fees that the insurance company imposes if you withdraw more than a specified amount from your fixed annuity during the surrender period. These charges typically decrease over time and eventually disappear once the surrender period ends. For example, a 7-year surrender period might start with a 7% fee in the first year, reducing by 1% each subsequent year until it reaches 0%.

How does a MYGA work?

When you purchase a MYGA, you pay a lump sum to the insurance company. In return, the company guarantees the best-fixed interest rate for the duration of the chosen term. At the end of the term, you can either withdraw your funds, roll them into another annuity, or, in some cases, renew the MYGA at the current rate offered by the insurer.

Start by Requesting a Custom Quote:
Your First Step to Buying an Annuity

Annuity FYI recommends that prospective annuity buyers request a custom quote as a first step by completing the information request form below.

Annuity Information Request Form

If you have questions or would like more information, please complete this form, and a licensed professional will be happy to help. For the fastest response, please select 'Phone' as your Contact Preference.

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