Best Rates for Multi-Year Guarantee Annuities

Hi there, I’m Stan The Annuity Man—America’s annuity agent and the nation’s top independent annuity expert. At six feet six (seven-two with the hair), I’m here to help you understand where to find the best MYGA rates and how these annuities really work.

If you’re looking for the best Multi-Year Guarantee Annuity (MYGA) rates—also known as Fixed Rate Annuities—the short answer is check out The Annuity Man. But stick around. I’ll explain how to shop MYGAs, how they differ across carriers, and what to watch out for. And yes, I’ll tell you how to get the MYGA Owner’s Manual at the end.

What Are MYGAs?

Multi-Year Guarantee Annuities are the annuity industry’s version of a Certificate of Deposit (CD). Both are fixed-rate instruments, but MYGAs have one big difference: in a non-IRA account, the interest grows tax-deferred. With CDs, you’re taxed annually on the interest earned outside of an IRA. That doesn’t make MYGAs inherently better than CDs—they both have a place in your financial plan—but it does open the door to combining the two in a fixed-rate ladder strategy.

Real-World Example: CD + MYGA Ladder

A caller recently had $500,000 to allocate. He didn’t want to take on market risk or lock up funds for the long term. So, we created a five-year ladder: one-year and two-year CDs, followed by three-, four-, and five-year MYGAs. This approach gives annual liquidity and flexibility to roll funds into new rates as the environment changes.

Typically, CDs beat MYGA rates on very short durations (one to two years). But beyond three years, MYGAs tend to be more competitive. That’s where they shine.

Using Our Quote Tools

When you visit The Annuity Man, you’ll use two key filters:

1. State of Residence – MYGAs are regulated at the state level, so only approved products in your state will appear.
2. Duration – Filter quotes by the term you want: three years, five years, etc.

You’ll see a listing of MYGA carriers, their AM Best ratings, and most importantly, the effective annual yield. Some MYGAs offer simple interest; we standardize the comparison by converting to a compounding rate.

Liquidity and Flexibility

Not all MYGAs allow interest to be withdrawn annually. Some offer zero liquidity, while others will enable you to take interest or a percentage penalty-free. That’s why I’ll ask: Do you want access to interest or just the highest yield?

In general, products without liquidity features tend to offer higher rates, but not always. MYGAs have no annual fees, no moving parts, and the commission is built into the contract and paid by the carrier. Your full premium is in effect from day one.

Converting a MYGA Into Income

One client recently bought a five-year MYGA with the goal of converting it into lifetime income later. At the end of the term, we’ll run quotes to compare converting with the same carrier vs. using another with better SPIA rates. If another carrier wins, we’ll do a 1035 exchange (non-taxable) into the best Single Premium Immediate Annuity available.

This is why you always shop all carriers—for the highest contractual guarantees. You own an annuity for what it will do, not what it might do.

Next Steps

If you’re trying to understand what a Multi-Year Guarantee Annuity is, I’ve got a video that covers the basics. Pair that with this breakdown and the MYGA Owner’s Manual, and you’ll be ready to make a confident decision.

To request your free copy of the MYGA Owner’s Manual, click on this link to download it for free.

Thanks for joining me—see you next time!