Best 10-Year Fixed Annuity Rates for July 28, 2026

What Is a 10-Year Fixed Annuity?

A 10-year fixed annuity pays a guaranteed interest rate for a full 10 years. If you are not ready to commit for a decade, visit our fixed annuity rates page to compare every available term.

After the initial 10-year guarantee period, you can renew for another term at the new declared rate, withdraw your account value, convert the contract to monthly income payments, or transfer to a new annuity through a tax-free 1035 exchange.

Beyond the guaranteed return, a 10-year fixed annuity can turn your savings into lifelong, pension-like income. The rate guarantee is backed by the financial strength of the issuing insurance company.

A fixed annuity is also known by several other names:

• CD-type annuity
• Multi-Year Guaranteed Annuity (MYGA)
• Single-Premium Deferred Annuity (SPDA)
• Traditional Fixed Annuity
• Flexible-Premium Deferred Annuity (FPDA)

How 10-Year Fixed Annuities Work

Accumulation phase. You pay a premium to the insurance company, and the money grows at a guaranteed interest rate. The interest is tax-deferred, so you do not pay taxes on the earnings until you withdraw them.

Annuitization (payout) phase. After the accumulation period, you can convert the contract into a series of fixed, predictable payments, either for a set number of years or for life, guaranteed not to fall below a stated level.

Key Features

• Guaranteed return: a fixed rate with principal protection, unaffected by market swings.
• Tax-deferred growth: earnings are not taxed until you withdraw them.
• Predictable income: a guaranteed income stream you can turn on in retirement.
• Liquidity: less liquid than some options because of surrender charges on early withdrawals.
• Surrender charges: penalties may apply if you withdraw more than the annual free amount before the surrender period ends.
• Inflation risk: a fixed rate may not keep pace with inflation over a full decade.

Fixed Annuities vs. CDs

Fixed annuities work much like a certificate of deposit (CD). Both protect your principal, so your account value will not fall because of market performance.

A fixed annuity, or MYGA, guarantees a set interest rate for a specified period, just like a CD. The difference is that fixed annuity guarantees are backed by the claims-paying ability of the issuing insurance company and are not insured by the FDIC1 the way a CD is.

While not FDIC-insured, state insurance guaranty associations provide a safety net for annuity policyholders in their state, continuing coverage up to the limits set by state law2 even if an insurer becomes insolvent.

What Happens at the End of a 10-Year Fixed Annuity?

At maturity you have a few choices. One is to compare current fixed annuity rates and make a tax-free transfer to a new annuity at a different insurance company through a 1035 exchange.

Section 1035 of the Internal Revenue Code lets you exchange an annuity you own for a new annuity without paying tax on the investment gains earned in the original contract3, which can be a substantial benefit. A few rules apply:

• The old annuity must be exchanged directly for the new policy. You cannot take a check and apply the proceeds yourself.
• You can 1035 exchange from a life insurance policy to an annuity.
• You can 1035 exchange from an annuity to a long-term care policy.
• You cannot 1035 exchange from an annuity to a life insurance policy.

10-Year Fixed Annuity Rate FAQs

Related Pages

• Best Fixed Annuity Companies — a ranked shortlist for shoppers who value guarantees and simple terms.
• How to Buy an Annuity (Step-by-Step) — exactly what to expect from quote to application.
• How Much Does a $500,000 Annuity Pay Per Month? — what a $500K annuity pays and which type pays the most.
• Today’s Fixed Annuity Rates — compare 500+ products, updated live every 30 minutes.