10 Year Fixed Annuity Rates

Today's Best 10 Year Fixed Annuity Rates

Last Updated November 11, 2020

A fixed annuity (MYGA) is essentially a CD issued by an insurance company instead of a bank. They pay a specified rates for a set number of years. Below are our best 10 year fixed annuity rates today.

InsurerProductTermRate
Guaranty Income LifeGuaranty Rate Lock 10 Low Band10 yrs2.90
Guggenheim Life and Annuity CompanyPreserve MYGA 10 Low Band10 yrs2.75
Oxford Life Insurance CompanyMulti-Select 1010 yrs2.45
American National Insurance CompanyPalladium MYG Annuity 10 Low Band10 yrs2.30
Integrity Life Insurance CompanyMultiVantage 1010 yrs2.00
National Integrity Life InsuranceMultiVantage 1010 yrs2.00
Guggenheim Life and Annuity CompanyProOption MYGA 10 with ROP10 yrs1.95
The StandardFocused Growth Annuity 10 Low Band10 yrs1.80
National Integrity Life InsuranceNew Momentum 1010 yrs1.75
North American CompanyGuarantee Choice 10 Low Band10 yrs1.55

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Finding the Right Fixed Annuity For You

Fixed annuities, or MYGAs, are the simplest of all annuities making them the easiest variety to shop for and compare. However, there are still a few important items to consider besides just looking for the highest guaranteed rate of return. 

Below are a few other criteria you should be considering when comparing fixed annuities.

Duration: Typically the longer contract you purchase the higher your guaranteed interest rate will be. But that is not the case, especially given the current inverted yield curve. 

Liquidity: Most all fixed annuities have some type of annual free withdrawals, but the amount available varies by product. You’ll see most of the fixed annuities at our marketplace provide interest-only withdrawals annually. Others allow for 10% Free Withdrawals (10% of previous years account value) annually. 

Insurer Company’s Financial Rating: An insurer’s financial ratings are important because they are an in indicator of an insurance company’s ability to fulfill financial commitments to their policyholders. Usually, a lesser rated insurance company will offer higher fixed annuity rates, but that is not always the case. 

 

Fixed Annuity vs CD

Fixed annuities are work very much like a certificate of deposit (CD). Both a fixed annuity and a CD provide principal protection, meaning your account value will not decrease due to market performance.

 A fixed annuity, or MYGA, guarantees a set interest rate for a specified period of time – just like a CD. However, Fixed annuity guarantees are backed by the claims paying ability of the issuing insurance company and are not insured by the FDIC like a CD.

While not FDIC insured, State Insurance Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. 

You can view your states limits at our State Guarantee Associations Explained page.

 FIXED ANNUITYCD (CERTIFICATE OF DEPOSIT)
SOLD BYInsurance CompaniesBanks
AMOUNT YOU CAN INVEST$2,000 - $1,000,000Essentially Any Amount
INVESTMENT DURATION3 years - 10 years3 months - 5 years
INTEREST RATESVaries by insurer, term and investment amount. Typically higher than CDsVaries by financial institution, term and investment amount.
LIQUIDITYVaries by insurer and annuity. Usually either 10% of account value or accumulated interest annually.Almost always accumulated interest.
GUARANTEESBacked by the claims paying ability of issuing Insurer and by State Guaranty Funds.Backed by the FDIC up to $250,000 per depositor, per institution.
DEATH BENEFITAsset passed directly to beneficiary without going through the probate processProbate process required to pass asset to heirs

Fixed Annuity FAQs

Yes. Insurance companies as a whole have a long history of stability, even through our nation’s most difficult economic times. Fixed annuities, unlike variable annuities, are backed by the full faith and credit of the issuing insurance company

 
 

Yes. Insurance companies as a whole have a long history of stability, even through our nation’s most difficult economic times. Fixed annuities, unlike variable annuities, are backed by the full faith and credit of the issuing insurance company

In the broadest terms, an annuity is a contract between you and an insurance company, where you make a premium payment(s) in exchange for the benefits defined in the contract.

In the broadest terms, an annuity is a contract between you and an insurance company, where you make a premium payment(s) in exchange for the benefits defined in the contract.

Annuities are distributed by My Annuity Store, Inc. Guarantees are subject to the claims-paying ability of the insurer. My Annuity Store, Inc. does not advise clients on the purchase of non-fixed annuity products. The information presented here is not intended to be a recommendation to purchase a fixed annuity (MYGA), fixed index annuity(FIA), variable annuity (VA), registered index linked annuity (RILA), immediate annuity (SPIA), longevity annuity, or Qualified Longevity Annuity Contract (QLAC). 

The contract features described may not be current and may not apply in the state in which you reside. Insurance companies often issue contracts which are ‘state-specific’. Insurance companies also change their products and information often and without notice. Annuities are subject to the terms and conditions of the specific contract issued by the insurer, are not FDIC or NCUA insured, are not bank guaranteed, may lose value, and are not a deposit. Please call (855) 583-1104 if you have any questions or concerns. 

The information presented here is not a representation regarding the suitability of any concept or product(s) for an individual and it does not provide tax or legal advice. You should always consult your own financial planning, tax, and legal advisors to determine if a fixed annuity, fixed index annuity, annuity with long term care rider, immediate annuity, longevity annuity, or Qualified Longevity Annuity Contract are suitable in your financial situation.