Today's Best Multi-Year Guaranteed Annuities (MYGAs)
See today's best Multi-year Guarantee Annuity (MYGA) rates (updated Thursday, 2026-08-06). This list is sorted by duration and updated daily, so please bookmark this page and check back often.
New to MYGAs? Check out our multi-year guarantee annuity (MYGA) guide which explains rates, withdrawals, costs, and more. You can also speak with an annuity expert at (866) 866-1999. We're here to help.
Select your age and state of residence and click "Update" to see which MYGA products are available in your state and for your age. You can also filter the results by minimum premium/rating, and if withdrawals are allowed
COMPLETE LIST OF MULTI-YEAR GUARANTEED ANNUITIES (MYGAs)August 6, 2026 |
|||||
|---|---|---|---|---|---|
| Insurer Product Name Type |
Term | Annual Rate ↓ |
Minimum Premium | AM Best Rating |
More Information |
| Revol One DirectGrowth 10 (MVA) |
10 yrs. | 6.25 % | $25,000 | B++ | |
| Heartland National Secure Rate Pro 10 (MVA) |
10 yrs. | 6.15 % | $5,000 | B++ | |
| Revol One DirectGrowth 5 (MVA) |
5 yrs. | 6.15 % | $25,000 | B++ | |
| Revol One DirectGrowth 7 (MVA) |
7 yrs. | 6.15 % | $25,000 | B++ | |
| Heartland National Secure Rate Pro 5 (MVA) |
5 yrs. | 6.10 % | $5,000 | B++ | |
| Heartland National Secure Rate Pro 7 (MVA) |
7 yrs. | 6.10 % | $5,000 | B++ | |
| Gulf Guaranty Life Anchor MYGA 5 (MVA) |
5 yrs. | 6.00 % | $10,000 | B++ | |
| Gulf Guaranty Life Anchor MYGA 6 (MVA) |
6 yrs. | 6.00 % | $10,000 | B++ | |
| Aspida Synergy Choice MYGA 7 High-Band (MVA) |
7 yrs. | 5.90 % | $100,000 | A- | |
| Oxford Life Multi-Select 6 (MVA) |
6 yrs. | 5.85 % | $20,000 | A | |
| Aspida Synergy Choice MYGA 5 High-Band (MVA) |
5 yrs. | 5.85 % | $100,000 | A- | |
| Revol One DirectGrowth 3 (MVA) |
3 yrs. | 5.85 % | $25,000 | B++ | |
| Oceanview Harbourview 10 High-Band (MVA) |
10 yrs. | **5.80 % | $70,000 | A | |
| Axonic Axonic Waypoint 5 High-Band (MVA) |
5 yrs. | 5.80 % | $100,000 | A- | |
| Baltimore Life iQumulate 5 (MVA) |
5 yrs. | 5.80 % | $5,000 | B++ | |
| Baltimore Life iQumulate 7 (MVA) |
7 yrs. | 5.80 % | $5,000 | B++ | |
| Heartland National Secure Rate Pro 3 (MVA) |
3 yrs. | 5.80 % | $5,000 | B++ | |
| Oceanview Harbourview 6 High-Band (MVA) |
6 yrs. | **5.75 % | $70,000 | A | |
| Aspida Synergy Choice MYGA 7 Low-Band (MVA) |
7 yrs. | 5.75 % | $25,000 | A- | |
| American National Palladium MYG MAX 6 High-Band (MVA) |
6 yrs. | 5.73 % | $250,000 | A | |
| Aspida Synergy Choice MYGA 5 Low-Band (MVA) |
5 yrs. | 5.70 % | $25,000 | A- | |
| CL Life Sundance 5 (MVA) |
5 yrs. | 5.70 % | $20,000 | B++ | |
| Oxford Life Multi-Select 7 (MVA) |
7 yrs. | 5.65 % | $20,000 | A | |
| SBLI ECAccumulate 5 High-Band (MVA) |
5 yrs. | 5.65 % | $100,000 | A | |
| Oceanview Harbourview 4 High-Band (MVA) |
4 yrs. | **5.60 % | $70,000 | A | |
| Sagicor Milestone Max 7 High-Band (MVA) |
7 yrs. | 5.60 % | $75,000 | A | |
| American National Palladium MYG MAX 6 Low-Band (MVA) |
6 yrs. | 5.58 % | $100,000 | A | |
| American National Palladium MYG 6 High-Band (MVA) |
6 yrs. | *5.58 % | $250,000 | A | |
| Athene MaxRate 7 High-Band (MVA) |
7 yrs. | 5.55 % | $100,000 | A+ | |
| American National Palladium MYG MAX 7 High-Band (MVA) |
7 yrs. | 5.55 % | $250,000 | A | |
| Americo Platinum Assure Series 5 (MVA) |
5 yrs. | 5.55 % | $25,000 | A | |
| Americo Platinum Assure Series 6 (MVA) |
6 yrs. | 5.55 % | $25,000 | A | |
| Americo Platinum Assure Series 7 (MVA) |
7 yrs. | 5.55 % | $25,000 | A | |
| Oxford Life Multi-Select 10 (MVA) |
10 yrs. | 5.55 % | $20,000 | A | |
| Equitrust Life Certainty Select 10 (MVA) |
10 yrs. | 5.55 % | $10,000 | B++ | |
| Nassau MYAnnuity 7x (MVA) |
7 yrs. | 5.55 % | $10,000 | B++ | |
| Reliance Standard Reliance Guarantee 10 (MVA) |
10 yrs. | 5.50 % | $20,000 | A++ | |
| Nationwide Secure Growth 5 (MVA) |
5 yrs. | 5.50 % | $100,000 | A+ | |
| Protective Life Secure Saver 5 High-Band (MVA) |
5 yrs. | 5.50 % | $75,000 | A+ | |
| Oceanview Harbourview 7 High-Band (MVA) |
7 yrs. | **5.50 % | $70,000 | A | |
| Oxford Life Multi-Select 5 (MVA) |
5 yrs. | 5.50 % | $20,000 | A | |
| Sagicor Milestone Max 5 High-Band (MVA) |
5 yrs. | 5.50 % | $75,000 | A | |
| Symetra Select Max 5 High-Band (MVA) |
5 yrs. | 5.50 % | $250,000 | A | |
| Symetra Select Max 5 Low-Band (MVA) |
5 yrs. | 5.50 % | $100,000 | A | |
| Symetra Select Max 7 High-Band (MVA) |
7 yrs. | 5.50 % | $250,000 | A | |
| Symetra Select Max 7 Low-Band (MVA) |
7 yrs. | 5.50 % | $100,000 | A | |
| Axonic Axonic Waypoint 3 High-Band (MVA) |
3 yrs. | 5.50 % | $100,000 | A- | |
| Axonic Axonic Waypoint 7 High-Band (MVA) |
7 yrs. | 5.50 % | $100,000 | A- | |
| Axonic Axonic Waypoint 10 High-Band (MVA) |
10 yrs. | 5.50 % | $100,000 | A- | |
| CL Life Sundance 3 (MVA) |
3 yrs. | 5.50 % | $20,000 | B++ | |
| Equitrust Life Certainty Select 8 (MVA) |
8 yrs. | 5.50 % | $10,000 | B++ | |
| Nassau MYAnnuity 5x (MVA) |
5 yrs. | 5.50 % | $10,000 | B++ | |
| Nassau Simple Annuity 6 (MVA) |
6 yrs. | 5.50 % | $10,000 | B++ | |
| Reliance Standard Reliance Guarantee 7 (MVA) |
7 yrs. | 5.45 % | $20,000 | A++ | |
| Athene MaxRate 5 High-Band (MVA) |
5 yrs. | 5.45 % | $100,000 | A+ | |
| North American Guarantee Plus 5 High-Band (MVA) |
5 yrs. | 5.45 % | $100,000 | A+ | |
| American National Palladium MYG MAX 5 High-Band (MVA) |
5 yrs. | 5.45 % | $250,000 | A | |
| American National Palladium MYG MAX 10 High-Band (MVA) |
10 yrs. | 5.45 % | $250,000 | A | |
| American National Palladium MYG 7 High-Band (MVA) |
7 yrs. | 5.45 % | $250,000 | A | |
| Oceanview Harbourview 10 Low-Band (MVA) |
10 yrs. | 5.45 % | $20,000 | A | |
| Oxford Life Multi-Select 4 (MVA) |
4 yrs. | 5.45 % | $20,000 | A | |
| Sagicor Milestone Max 6 High-Band (MVA) |
6 yrs. | 5.45 % | $75,000 | A | |
| Sagicor Milestone Max 7 Low-Band (MVA) |
7 yrs. | 5.45 % | $25,000 | A | |
| Liberty Bankers Life Heritage Premier 9 (MVA) |
9 yrs. | 5.45 % | $10,000 | A- | |
| Equitrust Life Certainty Select 6 (MVA) |
6 yrs. | 5.45 % | $10,000 | B++ | |
| American National Palladium MYG 6 Low-Band (MVA) |
6 yrs. | *5.43 % | $100,000 | A | |
| Brighthouse Financial Fixed Rate Annuity 7 High-Band (MVA) |
7 yrs. | 5.40 % | $100,000 | A | |
| Midland National Life Guarantee Pro 5 High-Band (MVA) |
5 yrs. | 5.40 % | $100,000 | A+ | |
| Protective Life Secure Saver 7 High-Band (MVA) |
7 yrs. | 5.40 % | $75,000 | A+ | |
| American National Palladium MYG MAX 3 High-Band (MVA) |
3 yrs. | 5.40 % | $250,000 | A | |
| American National Palladium MYG MAX 7 Low-Band (MVA) |
7 yrs. | 5.40 % | $100,000 | A | |
| Oceanview Harbourview 5 High-Band (MVA) |
5 yrs. | **5.40 % | $70,000 | A | |
| Oceanview Harbourview 6 Low-Band (MVA) |
6 yrs. | 5.40 % | $20,000 | A | |
| Pacific Guardian Diamond Head 5 |
5 yrs. | 5.40 % | $10,000 | A | |
| Pacific Guardian Diamond Head 6 |
6 yrs. | 5.40 % | $10,000 | A | |
| Pacific Guardian Diamond Head 7 |
7 yrs. | 5.40 % | $10,000 | A | |
| Pacific Guardian Diamond Head 8 |
8 yrs. | 5.40 % | $10,000 | A | |
| Pacific Guardian Diamond Head 9 |
9 yrs. | 5.40 % | $10,000 | A | |
| Pacific Guardian Diamond Head 10 |
10 yrs. | 5.40 % | $10,000 | A | |
| Sagicor Milestone MYGA 6 High-Band (MVA) |
6 yrs. | 5.40 % | $100,000 | A | |
| Sagicor Milestone MYGA 7 High-Band (MVA) |
7 yrs. | 5.40 % | $100,000 | A | |
| Symetra Select Pro 5 High-Band |
5 yrs. | 5.40 % | $100,000 | A | |
| Symetra Select Pro 7 High-Band |
7 yrs. | 5.40 % | $100,000 | A | |
| Liberty Bankers Life Heritage Elite 9 (MVA) |
9 yrs. | 5.40 % | $10,000 | A- | |
| Equitrust Life Certainty Select 5 (MVA) |
5 yrs. | 5.40 % | $10,000 | B++ | |
| Reliance Standard Reliance Guarantee 5 (MVA) |
5 yrs. | 5.35 % | $20,000 | A++ | |
| United of Omaha Ultra-Premier 7 (MVA) |
7 yrs. | 5.35 % | $25,000 | A+ | |
| American National Palladium MYG 5 High-Band (MVA) |
5 yrs. | 5.35 % | $250,000 | A | |
| Oxford Life Multi-Select 8 (MVA) |
8 yrs. | 5.35 % | $20,000 | A | |
| Sagicor Milestone MYGA 5 High-Band (MVA) |
5 yrs. | 5.35 % | $100,000 | A | |
| Liberty Bankers Life Heritage Elite 7 (MVA) |
7 yrs. | 5.35 % | $10,000 | A- | |
| Baltimore Life iQumulate 3 (MVA) |
3 yrs. | 5.35 % | $5,000 | B++ | |
| Midland National Life Guarantee Pro 7 High-Band (MVA) |
7 yrs. | 5.30 % | $100,000 | A+ | |
| North American Guarantee Plus 7 High-Band (MVA) |
7 yrs. | 5.30 % | $100,000 | A+ | |
| United of Omaha Ultra-Premier 5 (MVA) |
5 yrs. | 5.30 % | $25,000 | A+ | |
| American National Palladium MYG MAX 5 Low-Band (MVA) |
5 yrs. | 5.30 % | $100,000 | A | |
| American National Palladium MYG MAX 10 Low-Band (MVA) |
10 yrs. | 5.30 % | $100,000 | A | |
| American National Palladium MYG 7 Low-Band (MVA) |
7 yrs. | 5.30 % | $100,000 | A | |
| American National Palladium MYG 8 High-Band (MVA) |
8 yrs. | 5.30 % | $250,000 | A | |
| American National Palladium MYG 9 High-Band (MVA) |
9 yrs. | 5.30 % | $250,000 | A | |
| American National Palladium MYG 10 High-Band (MVA) |
10 yrs. | 5.30 % | $250,000 | A | |
| SBLI ECAccumulate 5 Low-Band (MVA) |
5 yrs. | 5.30 % | $25,000 | A | |
| Axonic Axonic Waypoint 5 Low-Band (MVA) |
5 yrs. | 5.30 % | $20,000 | A- | |
| Liberty Bankers Life Heritage Premier 7 (MVA) |
7 yrs. | 5.30 % | $10,000 | A- | |
| Athene MaxRate 7 Low-Band (MVA) |
7 yrs. | 5.25 % | $10,000 | A+ | |
| Minnesota Life SecureOption Choice 7 High-Band (MVA) |
7 yrs. | **5.25 % | $100,000 | A+ | |
| Minnesota Life SecureOption Choice 9 High-Band (MVA) |
9 yrs. | **5.25 % | $100,000 | A+ | |
| American National Palladium MYG MAX 3 Low-Band (MVA) |
3 yrs. | 5.25 % | $100,000 | A | |
| American National Palladium MYG 3 High-Band (MVA) |
3 yrs. | 5.25 % | $250,000 | A | |
| Oceanview Harbourview 4 Low-Band (MVA) |
4 yrs. | 5.25 % | $20,000 | A | |
| Oxford Life Multi-Select 9 (MVA) |
9 yrs. | 5.25 % | $20,000 | A | |
| Sagicor Milestone MYGA 7 Low-Band (MVA) |
7 yrs. | 5.25 % | $50,000 | A | |
| Sagicor Milestone Max 5 Low-Band (MVA) |
5 yrs. | 5.25 % | $25,000 | A | |
| Sagicor Milestone Max 6 Low-Band (MVA) |
6 yrs. | 5.25 % | $25,000 | A | |
| Symetra Select Max 3 High-Band (MVA) |
3 yrs. | 5.25 % | $250,000 | A | |
| Aspida Synergy Choice MYGA 3 High-Band (MVA) |
3 yrs. | 5.25 % | $100,000 | A- | |
| Nassau Simple Annuity 4 (MVA) |
4 yrs. | 5.25 % | $10,000 | B++ | |
| MassMutual Premier Voyage 7 High-Band (MVA) |
7 yrs. | 5.20 % | $100,000 | A++ | |
| Athene MaxRate 5 Low-Band (MVA) |
5 yrs. | 5.20 % | $10,000 | A+ | |
| Brighthouse Financial Fixed Rate Annuity 5 High-Band (MVA) |
5 yrs. | 5.20 % | $100,000 | A | |
| Minnesota Life SecureOption Choice 5 High-Band (MVA) |
5 yrs. | **5.20 % | $100,000 | A+ | |
| North American Guarantee Plus 5 Low-Band (MVA) |
5 yrs. | 5.20 % | $20,000 | A+ | |
| American National Palladium MYG 5 Low-Band (MVA) |
5 yrs. | 5.20 % | $100,000 | A | |
| Fidelity & Guaranty FG Guarantee-Platinum 7 Annuity (MVA) |
7 yrs. | 5.20 % | $20,000 | A | |
| Oceanview Harbourview 3 High-Band (MVA) |
3 yrs. | **5.20 % | $70,000 | A | |
| Pacific Guardian Diamond Head 3 |
3 yrs. | 5.20 % | $10,000 | A | |
| Pacific Guardian Diamond Head 4 |
4 yrs. | 5.20 % | $10,000 | A | |
| Sagicor Milestone MYGA 6 Low-Band (MVA) |
6 yrs. | 5.20 % | $50,000 | A | |
| Symetra Select Pro 5 Low-Band |
5 yrs. | 5.20 % | $50,000 | A | |
| Symetra Select Pro 7 Low-Band |
7 yrs. | 5.20 % | $50,000 | A | |
| Symetra Select Max 3 Low-Band (MVA) |
3 yrs. | 5.20 % | $100,000 | A | |
| Axonic Axonic Waypoint 7 Low-Band (MVA) |
7 yrs. | 5.20 % | $20,000 | A- | |
| Axonic Axonic Waypoint 10 Low-Band (MVA) |
10 yrs. | 5.20 % | $20,000 | A- | |
| Guardian Fixed Target Annuity 5 High-Band (MVA) |
5 yrs. | 5.15 % | $100,000 | A++ | |
| Guardian Fixed Target Annuity 6 High-Band (MVA) |
6 yrs. | 5.15 % | $100,000 | A++ | |
| MassMutual Premier Voyage 5 High-Band (MVA) |
5 yrs. | 5.15 % | $100,000 | A++ | |
| Athene MaxRate 3 High-Band (MVA) |
3 yrs. | 5.15 % | $100,000 | A+ | |
| Brighthouse Financial Fixed Rate Annuity 7 Low-Band (MVA) |
7 yrs. | 5.15 % | $25,000 | A | |
| Midland National Life Guarantee Pro 3 High-Band (MVA) |
3 yrs. | 5.15 % | $100,000 | A+ | |
| Midland National Life Guarantee Pro 5 Low-Band (MVA) |
5 yrs. | 5.15 % | $20,000 | A+ | |
| Protective Life Secure Saver 5 Low-Band (MVA) |
5 yrs. | 5.15 % | $25,000 | A+ | |
| American National Palladium MYG 8 Low-Band (MVA) |
8 yrs. | 5.15 % | $100,000 | A | |
| American National Palladium MYG 9 Low-Band (MVA) |
9 yrs. | 5.15 % | $100,000 | A | |
| American National Palladium MYG 10 Low-Band (MVA) |
10 yrs. | 5.15 % | $100,000 | A | |
| Fidelity & Guaranty FG Guarantee-Platinum 5 Annuity (MVA) |
5 yrs. | 5.15 % | $20,000 | A | |
| Lincoln National MYGuarantee Plus 10 High-Band (MVA) |
10 yrs. | **5.15 % | $100,000 | A | |
| Oceanview Harbourview 7 Low-Band (MVA) |
7 yrs. | 5.15 % | $20,000 | A | |
| Liberty Bankers Life Heritage Elite 5 (MVA) |
5 yrs. | 5.15 % | $10,000 | A- | |
| CL Life Sundance 2 (MVA) |
2 yrs. | 5.15 % | $20,000 | B++ | |
| Equitrust Life Certainty Select 3 (MVA) |
3 yrs. | 5.15 % | $10,000 | B++ | |
| MassMutual Premier Voyage 6 High-Band (MVA) |
6 yrs. | 5.10 % | $100,000 | A++ | |
| MassMutual Stable Voyage 5 High-Band (MVA) |
5 yrs. | 5.10 % | $100,000 | A++ | |
| Minnesota Life SecureOption Choice 7 Low-Band (MVA) |
7 yrs. | **5.10 % | $25,000 | A+ | |
| Minnesota Life SecureOption Choice 9 Low-Band (MVA) |
9 yrs. | **5.10 % | $25,000 | A+ | |
| North American Guarantee Plus 3 High-Band (MVA) |
3 yrs. | 5.10 % | $100,000 | A+ | |
| American National Palladium MYG 3 Low-Band (MVA) |
3 yrs. | 5.10 % | $100,000 | A | |
| Sagicor Milestone MYGA 5 Low-Band (MVA) |
5 yrs. | 5.10 % | $50,000 | A | |
| The Standard Focused Growth Annuity 5 High-Band (MVA) |
5 yrs. | 5.10 % | $100,000 | A | |
| Aspida Synergy Choice MYGA 3 Low-Band (MVA) |
3 yrs. | 5.10 % | $25,000 | A- | |
| Axonic Axonic Waypoint 3 Low-Band (MVA) |
3 yrs. | 5.10 % | $20,000 | A- | |
| Liberty Bankers Life Heritage Elite 3 (MVA) |
3 yrs. | 5.10 % | $10,000 | A- | |
| Liberty Bankers Life Heritage Premier 5 (MVA) |
5 yrs. | 5.10 % | $10,000 | A- | |
| MassMutual Premier Voyage 4 High-Band (MVA) |
4 yrs. | 5.05 % | $100,000 | A++ | |
| MassMutual Premier Voyage 7 Low-Band (MVA) |
7 yrs. | 5.05 % | $50,000 | A++ | |
| New York Life Secure Term MVA II 7 High-Band (MVA) |
7 yrs. | 5.05 % | $100,000 | A++ | |
| Minnesota Life SecureOption Choice 5 Low-Band (MVA) |
5 yrs. | **5.05 % | $25,000 | A+ | |
| Protective Life Secure Saver 7 Low-Band (MVA) |
7 yrs. | 5.05 % | $25,000 | A+ | |
| Oceanview Harbourview 2 High-Band (MVA) |
2 yrs. | **5.05 % | $70,000 | A | |
| Oceanview Harbourview 5 Low-Band (MVA) |
5 yrs. | 5.05 % | $20,000 | A | |
| Oxford Life Multi-Select 3 (MVA) |
3 yrs. | 5.05 % | $20,000 | A | |
| Symetra Select Pro 3 High-Band |
3 yrs. | 5.05 % | $100,000 | A | |
| Liberty Bankers Life Heritage Premier 3 (MVA) |
3 yrs. | 5.05 % | $10,000 | A- | |
| Guardian Fixed Target Annuity 4 High-Band (MVA) |
4 yrs. | 5.00 % | $100,000 | A++ | |
| MassMutual Premier Voyage 5 Low-Band (MVA) |
5 yrs. | 5.00 % | $50,000 | A++ | |
| MassMutual Stable Voyage 4 High-Band (MVA) |
4 yrs. | 5.00 % | $100,000 | A++ | |
| New York Life Secure Term MVA II 6 High-Band (MVA) |
6 yrs. | 5.00 % | $100,000 | A++ | |
| Midland National Life Guarantee Pro 7 Low-Band (MVA) |
7 yrs. | 5.00 % | $20,000 | A+ | |
| National Life Group RetireMax Secure 5 MVA High-Band (MVA) |
5 yrs. | 5.00 % | $100,000 | A+ | |
| North American Guarantee Plus 7 Low-Band (MVA) |
7 yrs. | 5.00 % | $20,000 | A+ | |
| Lincoln National MYGuarantee Plus 7 High-Band (MVA) |
7 yrs. | **5.00 % | $100,000 | A | |
| Axonic Axonic Waypoint 2 High-Band (MVA) |
2 yrs. | 5.00 % | $100,000 | A- | |
| Gulf Guaranty Life Anchor MYGA 7 (MVA) |
7 yrs. | 5.00 % | $10,000 | B++ | |
| MassMutual Premier Voyage 3 High-Band (MVA) |
3 yrs. | 4.95 % | $100,000 | A++ | |
| MassMutual Premier Voyage 6 Low-Band (MVA) |
6 yrs. | 4.95 % | $50,000 | A++ | |
| New York Life Secure Term MVA II 5 High-Band (MVA) |
5 yrs. | 4.95 % | $100,000 | A++ | |
| Brighthouse Financial Fixed Rate Annuity 5 Low-Band (MVA) |
5 yrs. | 4.95 % | $25,000 | A | |
| Sagicor Milestone Max 3 High-Band (MVA) |
3 yrs. | 4.95 % | $75,000 | A | |
| Sagicor Milestone Max 4 High-Band (MVA) |
4 yrs. | 4.95 % | $75,000 | A | |
| The Standard Focused Growth Annuity 7 High-Band (MVA) |
7 yrs. | 4.95 % | $100,000 | A | |
| Guardian Fixed Target Annuity 5 Low-Band (MVA) |
5 yrs. | 4.90 % | $5,000 | A++ | |
| Guardian Fixed Target Annuity 6 Low-Band (MVA) |
6 yrs. | 4.90 % | $5,000 | A++ | |
| MassMutual Premier Voyage 4 Low-Band (MVA) |
4 yrs. | 4.90 % | $50,000 | A++ | |
| MassMutual Stable Voyage 3 High-Band (MVA) |
3 yrs. | 4.90 % | $100,000 | A++ | |
| New York Life Secure Term MVA II 3 High-Band (MVA) |
3 yrs. | 4.90 % | $100,000 | A++ | |
| New York Life Secure Term MVA II 4 High-Band (MVA) |
4 yrs. | 4.90 % | $100,000 | A++ | |
| Athene MaxRate 3 Low-Band (MVA) |
3 yrs. | 4.90 % | $10,000 | A+ | |
| Minnesota Life SecureOption Choice 3 High-Band (MVA) |
3 yrs. | **4.90 % | $100,000 | A+ | |
| Sagicor Milestone MYGA 3 High-Band (MVA) |
3 yrs. | 4.90 % | $100,000 | A | |
| Sagicor Milestone MYGA 4 High-Band (MVA) |
4 yrs. | 4.90 % | $100,000 | A | |
| MassMutual Stable Voyage 5 Low-Band (MVA) |
5 yrs. | 4.85 % | $10,000 | A++ | |
| Lincoln National MYGuarantee Plus 5 High-Band (MVA) |
5 yrs. | **4.85 % | $100,000 | A | |
| Oceanview Harbourview 3 Low-Band (MVA) |
3 yrs. | 4.85 % | $20,000 | A | |
| Symetra Select Pro 3 Low-Band |
3 yrs. | 4.85 % | $50,000 | A | |
| Guardian Fixed Target Annuity 3 High-Band (MVA) |
3 yrs. | 4.80 % | $100,000 | A++ | |
| MassMutual Premier Voyage 3 Low-Band (MVA) |
3 yrs. | 4.80 % | $50,000 | A++ | |
| The Standard Focused Growth Annuity 5 Low-Band (MVA) |
5 yrs. | 4.80 % | $15,000 | A | |
| Guardian Fixed Target Annuity 4 Low-Band (MVA) |
4 yrs. | 4.75 % | $5,000 | A++ | |
| MassMutual Stable Voyage 4 Low-Band (MVA) |
4 yrs. | 4.75 % | $10,000 | A++ | |
| Brighthouse Financial Fixed Rate Annuity 3 High-Band (MVA) |
3 yrs. | 4.75 % | $100,000 | A | |
| Midland National Life Guarantee Pro 3 Low-Band (MVA) |
3 yrs. | 4.75 % | $20,000 | A+ | |
| Minnesota Life SecureOption Choice 3 Low-Band (MVA) |
3 yrs. | **4.75 % | $25,000 | A+ | |
| National Life Group Green Mountain Freedom 5 (MVA) |
5 yrs. | 4.75 % | $100,000 | A+ | |
| Americo Platinum Assure Series 4 (MVA) |
4 yrs. | 4.75 % | $25,000 | A | |
| Fidelity & Guaranty FG Guarantee-Platinum 3 Annuity (MVA) |
3 yrs. | 4.75 % | $20,000 | A | |
| MassMutual Ascend SecureGain 7 (MVA) |
7 yrs. | 4.70 % | $100,000 | A++ | |
| Nationwide Secure Growth 7 (MVA) |
7 yrs. | 4.70 % | $100,000 | A+ | |
| North American Guarantee Plus 3 Low-Band (MVA) |
3 yrs. | 4.70 % | $20,000 | A+ | |
| Oceanview Harbourview 2 Low-Band (MVA) |
2 yrs. | 4.70 % | $20,000 | A | |
| Sagicor Milestone Max 3 Low-Band (MVA) |
3 yrs. | 4.70 % | $25,000 | A | |
| Sagicor Milestone Max 4 Low-Band (MVA) |
4 yrs. | 4.70 % | $25,000 | A | |
| The Standard Focused Growth Annuity 3 High-Band (MVA) |
3 yrs. | 4.70 % | $100,000 | A | |
| Axonic Axonic Waypoint 2 Low-Band (MVA) |
2 yrs. | 4.70 % | $20,000 | A- | |
| MassMutual Stable Voyage 3 Low-Band (MVA) |
3 yrs. | 4.65 % | $10,000 | A++ | |
| MassMutual Ascend SecureGain 5 (MVA) |
5 yrs. | 4.65 % | $100,000 | A++ | |
| Sagicor Milestone MYGA 3 Low-Band (MVA) |
3 yrs. | 4.65 % | $50,000 | A | |
| Sagicor Milestone MYGA 4 Low-Band (MVA) |
4 yrs. | 4.65 % | $50,000 | A | |
| The Standard Focused Growth Annuity 7 Low-Band (MVA) |
7 yrs. | 4.65 % | $15,000 | A | |
| The Standard Focused Growth Annuity 10 High-Band (MVA) |
10 yrs. | 4.65 % | $100,000 | A | |
| National Life Group RetireMax Secure 3 MVA High-Band (MVA) |
3 yrs. | 4.60 % | $100,000 | A+ | |
| National Life Group RetireMax Secure 5 MVA Low-Band (MVA) |
5 yrs. | 4.60 % | $25,000 | A+ | |
| Guardian Fixed Target Annuity 3 Low-Band (MVA) |
3 yrs. | 4.55 % | $5,000 | A++ | |
| Brighthouse Financial Fixed Rate Annuity 3 Low-Band (MVA) |
3 yrs. | 4.50 % | $25,000 | A | |
| Nationwide Secure Growth 5 (MVA) |
5 yrs. | 4.45 % | $10,000 | A+ | |
| Nationwide Secure Growth 7 (MVA) |
7 yrs. | 4.45 % | $10,000 | A+ | |
| Americo Platinum Assure Series 3 (MVA) |
3 yrs. | 4.45 % | $25,000 | A | |
| MassMutual Ascend SecureGain 7 (MVA) |
7 yrs. | 4.40 % | $10,000 | A++ | |
| The Standard Focused Growth Annuity 3 Low-Band (MVA) |
3 yrs. | 4.40 % | $15,000 | A | |
| MassMutual Ascend SecureGain 5 (MVA) |
5 yrs. | 4.35 % | $10,000 | A++ | |
| Integrity Life MultiVantage 10 (MVA) |
10 yrs. | *4.35 % | $20,000 | A+ | |
| Integrity Life MultiVantage 5 (MVA) |
5 yrs. | *4.35 % | $20,000 | A+ | |
| The Standard Focused Growth Annuity 10 Low-Band (MVA) |
10 yrs. | 4.35 % | $15,000 | A | |
| Aspida Synergy Choice MYGA 2 High-Band (MVA) |
2 yrs. | 4.35 % | $100,000 | A- | |
| Integrity Life MultiVantage 4 (MVA) |
4 yrs. | *4.30 % | $20,000 | A+ | |
| National Life Group RetireMax Secure 3 MVA Low-Band (MVA) |
3 yrs. | 4.30 % | $25,000 | A+ | |
| Integrity Life MultiVantage 7 (MVA) |
7 yrs. | *4.24 % | $20,000 | A+ | |
| MassMutual Premier Voyage 2 High-Band (MVA) |
2 yrs. | 4.20 % | $100,000 | A++ | |
| Aspida Synergy Choice MYGA 2 Low-Band (MVA) |
2 yrs. | 4.20 % | $25,000 | A- | |
| Americo Platinum Assure Series 2 (MVA) |
2 yrs. | 4.15 % | $25,000 | A | |
| MassMutual Premier Voyage 2 Low-Band (MVA) |
2 yrs. | 4.05 % | $50,000 | A++ | |
| MassMutual Ascend SecureGain 3 (MVA) |
3 yrs. | 3.95 % | $100,000 | A++ | |
| American Equity GuaranteeShield 3 (MVA) |
3 yrs. | 3.75 % | $100,000 | A- | |
| American Equity GuaranteeShield 5 (MVA) |
5 yrs. | 3.75 % | $100,000 | A- | |
| Lincoln National MYGuarantee Plus 10 Low-Band (MVA) |
10 yrs. | **3.70 % | $10,000 | A | |
| Lincoln National MYGuarantee Plus 5 Low-Band (MVA) |
5 yrs. | **3.65 % | $10,000 | A | |
| Lincoln National MYGuarantee Plus 7 Low-Band (MVA) |
7 yrs. | **3.65 % | $10,000 | A | |
| MassMutual Ascend SecureGain 3 (MVA) |
3 yrs. | 3.60 % | $10,000 | A++ | |
* Effective (average over duration) rate displayed.
** Rate may be lower in certain states.
For expert help with multi-year guaranteed annuities call 866-866-1999 or click a 'Get My Quote' button next to any annuity in these lists.
We'd love to hear from you!
Please post your comment or question. It's completely safe – we never publish your email address.
Comments (55)
Kyle
2026-04-10 14:59:46
Hi Perry,
Yes, we do! While most companies stop selling MYGAs at age 90, we do have a few that will go up to age 95 or even 100.
Best regards,
Kyle
Perry
2026-04-07 16:48:41
Can I purchase a tax deferred annuity at the age of 91
Kyle
2026-03-10 10:58:37
Hi Keith,
Yes, absolutely! That is a very common way to fund a MYGA.
Please feel free to give us a call to discuss - (800) 872-6684.
Best regards,
Kyle
Perry
2026-03-06 19:51:09
Do you offer non qualified MYGAs (premium not funded from retirement plans)
Tess
2026-01-23 06:54:10
Excellent rates. Very satisfied
Kyle
2025-07-03 11:31:16
Hi Ed,
All of the rates on our MYGA list are compound interest. We currently do not list any simple interest products.
Best regards,
Kyle
Ed
2025-07-02 17:24:20
Are your published rates simple or compound %?
Adam (ImmediateAnnuities.com)
2024-12-11 15:35:21
Hi Luis,
Glad to hear it! Feel free to reach out to us with any annuity questions you may have while making your decisions.
Adam
Luis V.
2024-12-11 14:56:35
I have being evaluating MYGA ANUITY. Your site is by a mile the best. If I decide to buy one : you got my business.
Kyle
2024-04-15 15:53:16
Hi Joe,
You can find links to all of the state guaranty association websites here: https://www.immediateannuities.com/state-guaranty-associations/.
Best regards,
Kyle
Joe
2024-04-15 12:08:55
Can you please explain or provide links to sources that explain the MYGA equivalent of FDIC coverage for CD. My tax preparer has recommended MYGAs, and the rates are better than CDs. She did mention state guaranty fund. I looked for this for my state, Nevada, but had trouble locating or finding it. This is one of the steps that keeps me from investing in MYGAs.
Kyle
2024-04-15 11:52:55
Hi Mike,
Not a problem! You can fund the annuity via direct, trustee-to-trustee transfer. Your annuity will be issued as a Traditional IRA and the funding will not create a taxable event.
Please give us a call at (800) 872-6684, if you have any additional questions. We'll be very happy to help.
Best regards,
Kyle
Mike
2024-04-15 11:24:02
I have funds in an IRA that I would like to invest in a fixed rate annuity without paying taxes (IRA to IRA) How do I accomplish that.
Kyle
2024-01-17 17:12:51
Hi Vash,
Yes, the 10% IRS tax penalty would apply to any interest withdrawn (not your principal) prior to age 59 1/2.
Best regards,
Kyle
Vash P.
2024-01-16 12:14:35
Hello,
I am 53 years old and I have 100k sitting in Bank account which I already paid tax on it. If I buy MYGA product and start withdrawing immediately, am I still responsible for 10% IRS tax penalty for early withdrawals.??
Kyle
2024-01-08 14:27:12
Hi Manny,
We are not tax advisors, so I cannot answer your question with certainty. However, when you surrender your annuity, the 1099-R should be based on the state you are living in at that time. Just be sure to update your address with the insurance company once you move.
Best regards,
Kyle
Manny Z.
2024-01-08 11:56:51
My MYGA matures in 7 years, it was purchased with non-qualified money. If I move from my current high state income tax to a no state income tax location before maturity, does the interest earned escape state taxes when the annuity matures and pays out.
Kyle
2024-01-05 10:24:51
Hi Vash,
Thank you for reaching out!
You actually have two separate questions in there. If you purchase a MYGA and take withdrawals prior to age 59 1/2 then you are subject to the 10% IRS tax penalty.
However, the answer may be different for a single premium immediate annuity (SPIA). If you are purchasing your annuity with after-tax dollars, then there is no pre-59 1/2 tax penalty for a SPIA.
Best regards,
Kyle
Vash P.
2024-01-04 16:04:54
I am 53 years old. If I do 100k MYGA/Single Premium Immidiate Annuity and start withdrawals immediately, am I still responsible for IRS 10% Tax penalty.??
Kyle
2023-11-06 16:25:47
Hi Michael,
Thank you for reaching out!
You should be able to move your 400k directly into another annuity (or annuities) without creating a taxable event. This would be done via 1035-exchange if the annuity is "non-qualified", or direct transfer if the annuity is "qualified."
If you would like more information on these processes, please call me on our toll-free number, (800) 872-6684. I'll be very happy to help.
Best regards,
Kyle
Michael
2023-11-04 11:02:46
I am 62 and my wife is 67. We have an annuity of 400K. It has already met maturity. If I take that money and put it into one or more annuities, Is that counted as income for the year? Or, just a rollover.
Sally H.
2023-05-19 13:44:39
If I purchase a MYGA can I withdraw the interest earned every year without paying a penalty? Im retired and Im 70 years old
Kyle
2023-03-15 16:15:03
Hi Toni,
Thank you for reaching out. You'll want to research this with your particular state's Guaranty Association. You can find a link to their website/phone number here:
https://www.immediateannuities.com/state-guaranty-associations/
Toni L F.
2023-03-14 13:14:17
Please clarify how MYA are insured and up to what sum? I am currently locked into High Rated insurance companies for 10 year terms.
Kyle
2023-02-10 16:21:38
Hi Chris,
Thank you for reaching out!
Unfortunately, you cannot transfer your non-qualified investment portfolio directly into an annuity and keep your gains tax-deferred. You can only go from annuity-to-annuity (1035-exchange) to do this.
Please feel free to reach out with any remaining questions.
Best regards,
Kyle
Chris B.
2023-02-10 15:31:32
Can I transfer non-qualified investment portfolio consisting of highly-appreciated mutual funds to a FIA without paying income or capital gain taxes on the gains in the non-qualified investment portfolio? If so, is my basis in the FIA the carry-over basis in the investment portfolio and the taxes are deferred until when I liquidate the FIA?
Kyle
2023-01-23 17:00:22
Hi Margaret,
Thank you for reaching out!
The first thing you'll want to do is locate the particular annuity you'd like to move into. If your existing 10-year annuity comes due at the end of April, you can start seriously looking at options in the beginning of April.
Next, we would submit an annuity application to the new insurance company, and instruct them to request funds from your existing company on your anniversary date. Your existing company will send a check back to the new company, and your new annuity will be funded and issued.
Please call me on our toll-free number, (800) 872-6684, if you have any remaining questions. I'll be very happy to help.
Best regards,
Kyle
Margaret
2023-01-09 20:27:48
Have a 10 yr deferred annuity that will mature the end of 4/2023. Want to reinvest the total balance into another multi year deferred annuity (qualified)
At that time probably with a different company offering a better rate from your list. What is the procedure step by step to do this?
Mike C.
2022-11-25 18:28:19
Need 5-7 yr myga where I can draw out the interest annually or 10% of the value penalty free. Probably 250k
Kyle
2022-09-16 15:37:49
Hi Chris,
If you're looking for a 4-year MYGA, we currently have a few of them over 4.00% at this time. For example, Oxford Life is currently offering 4.30% for 4 years. These are the highest rates we've seen in the last 10-12 years.
Please let us know if there's anything else we can do to help.
- Kyle
Chris P.
2022-09-13 18:06:17
Hi
I have an Annuity for 7 yrs variable which ended January 2022 however since I am 62 - I did not want to extend this contract but conserve what I have - moving to a fix for another 4 years is probably an option but the rates are low any suggestion?
Kyle (ImmediateAnnuities.com)
2022-05-09 14:17:30
Hi Jimmy,
Yes, absolutely. You can transfer your Roth IRA directly into a Roth IRA with the insurance company. At the end of the guarantee period, you could transfer the funds to another Roth IRA, if you should choose to do so.
- Kyle
JimmyV
2022-05-07 16:14:01
Could I use a MYGA for funds in a ROTH IRA? I want to protect some of the money I have. After the guarantee period, I could reinvest, or start to draw the funds tax free.
Kyle (ImmediateAnnuities.com)
2022-03-08 12:51:15
Hi Theresa,
Yes. You will absolutely be able to surrender (or cash out) your annuity at the end of the 3 or 5-year term. There will generally be a 30-day window (or grace period) at the end of your term, during which there will not be any surrender charges or penalties. You will be able to pull out all of your principal plus the earned interest.
- Kyle
Theresa D.
2022-03-08 05:40:32
So I 'm looking to purchase a MYGA maybe a 3 or 5 year term with about $200,000 and I'm only 49 years old. Will I be permitted to end contract once the term is up and receive my full cash value(premium paid) including interest earned? I would not be forced or restricted to do a 1035 exchange, I could, would just pay taxes on interest, gains from account. This would be non-qualified money to invest. I would not be looking to annuitize.
Bill M.
2022-03-01 19:38:40
great website.
Kyle (ImmediateAnnuities.com)
2022-01-28 11:45:22
Hi Eric,
You asked: "Are RMD's of interest earned in a MYGA ever required?"
RMDs would only be required if your MYGA was issued in a pre-tax account, like a Traditional IRA or SEP IRA. If your MYGA is "non-qualified" (funded with after-tax dollars), then you will not have RMDs.
Please refer to our Required Minimum Distribution (RMD) page for further details: https://www.immediateannuities.com/required-minimum-distribution/
Eric
2021-11-23 17:39:18
Are RMD's of interest earned in a MYGA ever required?
Hersh Stern (ImmediateAnnuities.com)
2019-09-30 10:44:48
You ask a very good question. Even though you might have full coverage from your state guaranty association, I still think that the ratings are part of the equation when deciding which company to buy your annuity from. Some of our clients put a ton of importance on the rating of the insurance company, while others don't care very much. It's basically up to the personal preference of the buyer.
Obviously, if the interest rates were equal between an "A++" carrier and a "B++" carrier then you would just go with the "A++" carrier. However, with MYGAs you usually find better rates offered buy your "A-" and "B++" companies. In the end, it is about your comfort level for us. We want you to be very confident in, and comfortable with the annuity product you are purchasing.
-Hersh
Frank
2019-09-30 10:43:48
How much should I care whether a 5 or 10 year MYGA is from a company rated B++ vs A+. I reside in DE.
Assume the company is licensed in DE and the amount is less than 250000. While there is no FDIC there is the state guaranty.
Hersh Stern (ImmediateAnnuities.com)
2019-04-22 09:17:36
Hi John,
The highest rate we currently have for a 3 year fixed deferred annuity contract is 3.00%. This would return your premium plus interest at the end of the 3 year period, a total of $546,36. These rates change often, so check this page regularly to see where rates are when you would like to purchase.
-Hersh
John
2019-04-22 09:15:41
Assummuing I invest 500K, when a 3 yr contract is completed, how much money will be returned to me?
Hersh Stern (ImmediateAnnuities.com)
2018-10-29 08:43:34
Hi Kathy,
There are two options we can offer.
The first is a Multi-Year Guarantee Annuity (MYGA). A MYGA provides compound growth at a fixed rate from anywhere between 3 and 10 years. The rates usually range anywhere between 1.50% and 4.50% annually. You can see our full list of MYGAs and their rates on the tables above.
The second option is a Fixed Indexed Annuity (FIA). A FIA's growth depends upon the performance of a stock index. You can never lose money in a FIA as a result of the performance of the underlying index. Providing the index does well, the annuity can make anywhere between 3% and 7% per year. You can read more about FIAs here:
https://www.immediateannuities.com/fixed-index-annuities/
For both of these types of annuities, the full account values can be passed on to your heirs upon your death.
-Hersh
Kathy
2018-10-29 08:40:15
I am a recent widow looking to reinvest my deceased husbands 401k. I do not need or want a lifetime income guarantee as I have ss and pension and all I want to do is make sure that when I pass all the money in the account including principal and interest is passed on to my heirs and to make sure that I don't loose any principal in the market. I am not planning on withdrawing any money. Please advise on the best plan.
Hersh Stern (ImmediateAnnuities.com)
2016-01-07 11:56:42
Hi Randall-
Yes, that is permitted under the Roth IRA rules. Whether it's a good idea to do that in your financial situation should be discussed with a fee-only financial planner.
Hersh
Randall
2016-01-07 11:56:17
Can I use funds from a Roth IRA to pay for a multi-year guaranteed fixed interest rate annuity?
Hersh Stern (ImmediateAnnuities.com)
2015-11-24 09:30:26
Hi Daniel--
First, I'd suggest that you meet with a fee-only financial planner to create an overall plan and strategy to attain your and your wife's retirement goals.
Beyond that, here are some quick "top of the head" ideas:
If you don't need to tap your wife's IRA to cover your current living expenses, and she's comfortable with the value of her IRA fluctuating (perhaps, wildly) between now and retirement, then investing in the stock market is an option for her to consider.
On the other hand, if she wants a non-fluctuating, "fixed" return, there are multi-year deferred and indexed annuities, which she could investigate. Keep in mind that your wife's IRA is already tax-deferred and tax-advantaged. So owning an annuity will not improve the tax status of this money.
An annuity may provide her with a higher guaranteed return than she can find in a bank CD. Her investment in an annuity, however, would be a lot less liquid than the CD. And, the annuity would not be covered by the FDIC.
Hersh
Daniel
2015-11-24 09:29:37
My wife is 57 and has an IRA. She's considering an annuity. I'm not sure what to do with her money since we really don't need it right away. Your thoughts would be appreciated. Thank you.
Hersh Stern (ImmediateAnnuities.com)
2015-09-15 10:43:32
Hi John-
Since you do not want to withdraw income from an annuity at this time and you are only considering an annuity to provide income to your wife at some unknown future date, I can think of two suggestions:
1. Don't buy an annuity at this time. Give my contact information to your wife or beneficiaries or executor of your estate and tell them to call me after you are gone when your wife needs income. We can consider an annuity then.
2. Many companies sell deferred annuities with flexible income start dates. These annuities earn tax-deferred interest until the income stream is turned on. Your wife will be able to convert the annuity into a lifetime income at a future date of her choosing.
Hersh
John
2015-09-15 10:42:22
I am 78 and my wife is 70. My primary concern is for my wife. We have $200,000 I would like to invest in an annuity but there is no need to begin receiving monthly payments until I pass. What do you suggest?
Hersh Stern (ImmediateAnnuities.com)
2015-05-21 09:36:42
Hi Betty-
Even a short term (say, 5 year) multiyear deferred annuity would only allow limited withdrawals without surrender fee penalties or costly market value adjustments. Most deferred annuities only permit removal of the annual interest you earn each year (which could be as little as 2% or 3%). Any withdrawals above that amount would be subject to insurance company penalties. There are a few annuities that allow you to withdraw up to 10% a year penalty-free. Call me and I'll review available options with you.
Regarding taxes, any money you withdraw from your IRA or an IRA annuity would be subject to income taxes. There's simply no way to avoid paying income taxes on money which was contributed by your employer on your behalf and for which no income taxes have been paid yet.
You can click the following link to read more about taxation in multi-year deferred annuities:
https://www.immediateannuities.com/taxation-of-annuities/understanding-taxation-fixed-index-multi-year-deferred-annuities.html
Additionally, it's important to know that in four years (when you reach age 70-1/2) your annuity IRA and other IRA monies will be obliged to distribute 3%-4% a year to you in order to satisfy the Required Minimum Distribution rules. That money will become taxable income.
You can read more about Required Minimum Distributions here:
https://www.immediateannuities.com/required-minimum-distribution/
Finally, you asked whether buying an annuity is a good idea or not. That really depends on many, many considerations. Since you're asking, I think you would be best served if you met with a fee-only financial planner to review your financial situation before you make any big decisions about how to allocate this pension money.
There is a great article which discusses how you can find a financial planner which you can read here:
https://www.immediateannuities.com/retirement/how-to-find-a-financial-planner.html
Best regards,
Hersh
Betty
2015-05-21 09:31:37
I'm 66 years old and have opted to receive a lump sum pension from the company I worked at for 20+ years. I'm considering rolling over 100% into an IRA to avoid paying the taxes. I would then like to take 60% of IRA and buy a deferred annuity. I'm not looking for a long-term investment. I only need an account for safekeeping and to be able to take out money in an emergency. Will I be taxed on the money I withdraw from the deferred annuity? Do you think this is a good idea? I only have 2 weeks to complete my paperwork with my decision. Please advise at your earliest convenience.
Chris
2015-04-07 16:03:21
Thanks so much, that answered it all! Appreciate your thoughts on it. I didn't even realize I was getting an "annuity" at the time, just some 7 year "thing." (yeah, a novice here)
Hersh Stern (ImmediateAnnuities.com)
2015-04-07 12:35:15
Hi Chris-
Sounds like you bought a "deferred" annuity with a 7-year surrender charge period. I'm assuming you paid for your annuity with savings, not IRA or 401k monies. So your annuity is what we call "non-qualified."
Since you were able to withdraw the interest easily, it appears your annuity permits penalty-free withdrawals of interest during the 7 years. But you are not yet 59-1/2, so there is a 10% federal tax penalty on the interest you withdrew even though the insurance company was okay about it. Those are two separate issues.
Regarding whether you can cancel your annuity during the 7 years without penalties I suggest calling the insurance company. Only the company can tell you whether or not the surrender penalty for early withdrawals will invade your original principal or investment amount. Some annuities do and some don't.
As far as the IRS is concerned, both regular income taxes and any pre-59-1/2 penalty taxes will only apply to the earnings in your annuity, not to the original after-tax savings you invested.
Hersh
Chris
2015-04-07 12:30:08
I bought a $70,000 annuity a few years ago, to last over 7 years. If I close it out early and I'm under 59, will I lose any of the principal $70K with any penalties? I've already made one interest earnings withdrawal last year. But wondering if "penalty" by IRS and insurance company for early closure will touch the $70,000.