A plain-English guide to fixed annuities (MYGAs)

Park it better than a CD.

Same safe, fixed-rate category as a certificate of deposit (CD) — just a higher guaranteed rate, no tax bill on the interest this year, and a penalty-free withdrawal allowance every year.

Live rates from 113 rated companies — licensed specialists handle the paperwork.

Today's numbers
Best nationally advertised CD
4.40%
Top MYGA, this table
Live rates from 113 companies — pick your state below to see yours.

CD or Fixed Annuity?

Both can provide predictable interest. Here's where they differ.

How much interest can I earn? Bank CD Rates vary by bank and term Fixed Annuity (MYGA) Often higher rates are available
When do I pay taxes? Bank CD You generally pay income tax on interest each year, even if you leave it in the CD Fixed Annuity (MYGA) Taxes are generally deferred until you take money out
What happens if I need some of my money? Bank CD Taking money out early may mean an early-withdrawal penalty Fixed Annuity (MYGA) Most MYGAs allow a portion of your money to be withdrawn each year without a surrender charge
What protects my money? Bank CD FDIC insurance, generally up to $250,000 per depositor, per insured bank Fixed Annuity (MYGA) The financial strength of the insurance company
What happens when the term ends? Bank CD The CD may automatically renew at the rate available then Fixed Annuity (MYGA) You decide what to do: take the money, renew, or move it
How long is my rate guaranteed? Bank CD For the CD term Fixed Annuity (MYGA) For the guaranteed annuity term

Fixed annuities are not FDIC insured, not bank guaranteed, and are not deposits. Withdrawals above a contract's free amount can trigger a surrender charge and, on some contracts, a market value adjustment; withdrawals before age 59½ may also trigger a 10% IRS penalty. Terms vary by contract — a licensed specialist walks you through the one you're considering.

Live MYGA Rates

Updated regularly. Compare today's rates, potential growth, withdrawal options, and insurer ratings — all in one place.

Today's best CD rate: 4.40% — about $124,023 after 5 years
On a $100,000 deposit. The MYGA rates below show what you could earn instead.
Pulling live rates from 113 companies…

*Based on a $100,000 initial deposit. The value shown compounds each company's guaranteed rate over the full contract term with no withdrawals — a longer term reaches a higher value even at a lower rate, so use the contract-length filter to compare like for like. The CD figure above is worked the same way at today's best nationally advertised rate; both sides are shown before tax, and a CD's interest is generally taxable each year. Top guaranteed rate per company, from our live database of 113 companies. A specialist confirms the figures that actually apply to you.

Questions people ask before they get started

Answered here — no PDF required.

Is a MYGA FDIC insured?
No. It's backed by the issuing insurer's claims-paying ability, plus your state's guaranty association up to a set limit — similar in spirit to FDIC, just routed through your state instead of a federal agency.
What's the 59½ rule?
Withdrawals before age 59½ are generally subject to a 10% IRS early-distribution penalty, on top of any surrender charge the contract itself charges. A MYGA doesn't get around age-based tax rules — only the insurer's own withdrawal terms.
What is an MVA (market value adjustment)?
Some contracts apply a market value adjustment — a rate-based add-on or deduction — if you withdraw more than the free amount during the surrender period. Not every contract has one. Check before you compare rates.
What happens if I need the money before the term ends?
Most products here let you take a penalty-free withdrawal each year — the exact allowance is shown per product. Beyond that, the contract's surrender schedule applies, plus an MVA if it has one.
How does a surrender charge compare to a CD's early-withdrawal penalty?
A CD penalty is usually a few months of interest. A MYGA surrender charge is larger up front but shrinks every year and disappears at the end of the term — and most contracts let you take a free withdrawal each year before it applies at all.
Who do I actually talk to after I request a rate?
A licensed specialist — not a call center. They confirm the rate is still available in your state, walk through the surrender schedule, and handle the paperwork with the company.

Licensed specialists. No sales pressure.

They'll walk through the table with you, confirm the rate that's actually available in your state, and handle the paperwork end to end.

Annuity Educator is not a bank, and fixed annuities are not FDIC insured. Fixed-rate annuities are backed by the claims-paying ability of the issuing insurance company and, in most states, further supported by a state guaranty association up to a limit that varies by state and contract type. Rates shown are pulled live from our company database for a $100,000 premium and can change or become unavailable at any time; they are not investment, tax, or legal advice, and guaranty figures are illustrative. Withdrawals before age 59½ may trigger an IRS penalty. Speak with a licensed specialist for actual rates and terms available in your state. By contacting us you may speak with an insurance-licensed agent in your state, and you may be offered insurance products for sale. We never sell your information.

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