Lock in a competitive fixed rate.

Simple by design

What is a MYGA?

A multi-year guaranteed annuity is an insurance contract that credits a fixed rate for a selected guarantee period, commonly two to ten years. Interest compounds without annual taxation until money is withdrawn. At the end of the term, you can review the renewal offer, transfer to another annuity through a tax-free exchange when eligible, or withdraw funds according to the contract and tax rules.

How the money grows.

With a compound-rate MYGA, interest earns interest inside the contract. Some advertisements quote a simple rate, a yield, or a bonus-adjusted figure, so the number at the top of an ad may not tell the whole story. Compare the guaranteed ending value for the same premium and term to see which contract truly produces more.

Liquidity belongs in the rate comparison.

Many MYGAs allow a penalty-free withdrawal each contract year, often up to a stated percentage of contract value or accumulated interest. Other contracts provide less access or none. Taking more than the permitted amount during the surrender period may trigger a surrender charge and a market value adjustment. A contract offering greater liquidity may pay a lower rate, which is why “highest rate” and “best fit” are not always the same.

See the current rate environment.

Rates can change quickly and availability varies by state, age, premium and distribution channel. Unlock the rate sheet for a term-by-term market snapshot without carrier names, then request a personalized comparison for the products available to you.

Match the term to the plan.

A MYGA works best when the guarantee period matches when you expect to need the money. Some savers divide funds among several maturities to create a ladder rather than committing everything to one end date. Withdrawals of taxable gain are generally treated as ordinary income, and an additional federal tax may apply before age 59½.