Multi-year Guaranteed Annuity
Are you nearing retirement? Want to maximize your savings for the future? A multi-year guaranteed annuity (MYGA) could be your perfect option.
CURRENT RATES
3-year:
5.65%
5-year:
5.80%
7-year:
5.80%
10-year:
5.80%
MULTI-YEAR GUARANTEED ANNUITY
Choose the plan that works best for your needs!
A MYGA provides you with a guaranteed fixed interest rate for a specific period — between three and ten years. This means you can lock in interest rates no matter how volatile the market is during that time period, assuring a set rate of return and a lot more peace of mind for your future. Get started today with as little as $5,000.
Guaranteed Interest
Receive a guaranteed fixed interest rate for the entire term of the annuity. This means that regardless of market fluctuations, your investment earns a consistent rate of return, providing you with predictability and stability.
Tax-Deferred Growth
The interest earned on a MYGA is not taxed until funds are withdrawn. This tax-deferred growth allows your investment to compound more rapidly enhancing the overall return on your investment.
Principal Protection
MYGAs offer a secure investment option as they protect your initial investment from market downturns. This feature makes them particularly attractive to individuals seeking a low-risk investment.
Flexible Income Options
Upon maturity, Secure Rate offers a variety of payout options to meet your financial needs. Whether you opt for a lump-sum withdrawal, convert the annuity into a stream of income, or renew it for another term, you have the flexibility to choose an option that aligns with your financial goals.
3 to 10-year
guaranteed rate options
$5,000
minimum investment
Up to 5.80%
annual interest rate
FAQs
What is a Multi-Year Guaranteed Annuity (MYGA)?
A Multi-Year Guaranteed Annuity (MYGA) is a type of fixed annuity that provides a guaranteed interest rate for a specific period. During this period, your investment earns a predetermined rate of return, irrespective of market fluctuations.
How does the tax-deferral on a MYGA work?
The interest earned on a MYGA isn't taxed until you make a withdrawal. This allows your investment to compound faster, as you're earning interest on both the principal and the accrued interest. When funds are eventually withdrawn, they are subject to ordinary income taxes.
Is my principal safe in a MYGA?
Yes, one of the primary advantages of a MYGA is principal protection. Regardless of market conditions, your initial investment (the principal) remains intact, ensuring a low-risk financial environment for your funds.
What happens when the MYGA term ends?
At the end of your MYGA term, you generally have several options: you can withdraw your funds, including the earned interest; convert the MYGA into a stream of regular income payments; or renew it for another term. Some MYGAs might also automatically renew for another term unless instructed otherwise.
Are there any penalties for early withdrawal from a MYGA?
During the guarantee period, you can withdraw accumulated interest earned in any single year without surrender charges or a market value adjustment (MVA) being applied. Applicable accumulated interest resets to zero on each policy anniversary. These withdrawals will be available to you at the end of the 30-day right-to-examine period. If the amount you withdraw is more than the accumulated interest, the entire amount will be subject to the cash surrender value as described in the contract. If you choose the 5% free withdrawal rider (see below), the accumulated-interest withdrawal provision will not apply.
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