Multi Year Guaranteed Annuity Rates (2024 Update)
Current Multi-Year Guaranteed Annuity (MYGA) Rates
MYGA rates are updated monthly, so it’s essential to secure high rates as soon as possible, especially if rates are trending down. For application assistance, call us at +1 531 225 7231.
Top Multi-Year Guaranteed Annuities as of July 7, 2024
| Company | Product | Period | Rate | Action |
|---|---|---|---|---|
| SILAC | Secure Savings Elite 2 | 2 years | 3.90% | [Learn More] |
| Sentinel Security Life Insurance Company | Personal Choice Annuity 3 | 3 years | 5.90% | [Learn More] |
| Atlantic Coast Life | Safe Haven 3 | 3 years | 5.90% | [Learn More] |
| Guaranty Income Life | Guaranty Rate Lock 4 | 4 years | 5.00% | [Learn More] |
| Sentinel Security Life Insurance Company | Personal Choice Annuity 5 | 5 years | 5.55% | [Learn More] |
| Atlantic Coast Life | Safe Haven 5 | 5 years | 5.55% | [Learn More] |
| Atlantic Coast Life | Safe Haven 6 | 6 years | 5.42% | [Learn More] |
| Guaranty Income Life | Guaranty Rate Lock 7 | 7 years | 5.50% | [Learn More] |
| Guaranty Income Life | Guaranty Rate Lock 8 | 8 years | 5.00% | [Learn More] |
| Guaranty Income Life | Guaranty Rate Lock 9 | 9 years | 5.00% | [Learn More] |
| Sentinel Security Life Insurance Company | Personal Choice Annuity 10 | 10 years | 5.25% | [Learn More] |
| Atlantic Coast Life | Safe Haven 10 | 10 years | 5.25% | [Learn More] |
| Atlantic Coast Life | Safe Haven 20 | 20 years | 4.75% | [Learn More] |
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What Are Multi-Year Guaranteed Annuities (MYGAs)?
MYGAs are fixed interest rate annuities for a specific term, similar to bank CDs but typically offering higher returns.
Is a MYGA Better Than a Bank CD?
MYGA rates often surpass those of the highest-yielding bank CDs, providing better returns. However, the best option varies based on individual circumstances.
What Is the Downside of a MYGA?
The primary downside is that MYGAs are not insured by the FDIC. In the rare event that the insurance company goes bankrupt, your deposit is not insured.
How Much Does a MYGA Cost?
Generally, there are no fees for MYGAs. You invest a set amount and receive a guaranteed return annually for the chosen term. Currently, a 3-year MYGA can offer a 5.9% return.
What Happens at the End of a MYGA Term?
At the end of the term, you receive your initial investment plus interest. You can then choose to reinvest in another MYGA, convert it into a lifetime income annuity, or explore other options.
