Fixed Annuity Rates for August 2022

Current Annuity Rates as of August 13, 2022

Today’s Best Annuity Rates

Below are today’s best fixed annuity rates. Currently, the best fixed annuity rate is 4.80% available in a 7 year fixed annuity.

Years InsurerAnnuityRateAM BestApply
2 Oceanview life and annuity logo OceanviewHarbourview 3.50%A-
3 Aspida annuity logo ASPIDASynergy Choice4.30%A-
4 Nassau logo NassauSimple Annuity4.35%B++
5 Aspida annuity logo ASPIDASynergy Choice4.65%A-
6 Nassau logo NassauSimple Annuity4.55%B++
7 Aspida annuity logo ASPIDASynergy Choice4.80%A-
8 Oxford life insurance company logo Oxford LifeMulti-Select 4.30%A
9 Oxford life logo Oxford LifeMulti-Select 4.10%A
10 Atlantic coast life logo Atlantic Coast LifeSafe Haven4.60%B++

*NOTE: Click on the insurer or annuity product name for more details. You can find fixed index annuity rates here if you are looking for them instead.

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Best 3 Year Fixed Annuity Rates

The best 3 year guaranteed annuity rate is 4.30%. Below are the best 3 year fixed annuity rates as of August 12, 2022.

Term InsurerAnnuityRateAM BestLiquidityApply
3 Years Aspida annuity logo ASPIDASynergy Choice4.30%A-None
3 Years American life logo American LifeAmerican Classic4.10%B++None | 10%
3 Years Sagicor life logo SagicorMilestone 33.90%A-None | 10%
3 Years Fidelity & guaranty life annuity logo Fidelity & GuarantyGuarantee-Platinum3.90%A-Interest
3 Years Athene annuity logo AtheneMaxRate

Best 5 Year Fixed Annuity Rates

Today’s best 5 year fixed annuity rate is 4.65% as of August 12, 2022.

Term InsurerAnnuityRateAM BestLiquidityApply
5 Years Aspida annuity logo ASPIDASynergy Choice4.65%A-None
5 Years Atlantic coast life logo Atlantic Coast LifeSafe Haven4.50%B++None
5 Years Security sentinel life logo Sentinel SecurityPersonal Choice4.50%B++None
5 Years Athene annuity logo AtheneMaxRate4.40%AInterest
5 Years Nassau logo NassauMYAnnuity4.35%B++10%
5 Years Americo financial annuity logo Americo FinancialPlatinum Assure4.25%A5%

Best 7 Year Fixed Annuity Rates

The best 7 year fixed annuity rate is 4.80% as of August 12, 2022.

Term InsurerAnnuityRateAM BestApply
7 yrs Aspida annuity logo ASPIDASynergy Choice4.80%A-
7 yrs Athene annuity logo AtheneMaxRate4.60%A
7 yrs Security sentinel life logo Sentinel SecurityPersonal Choice4.55%B++
7 yrs Atlantic coast life logo Atlantic Coast LifeSafe Harbor 4.53%B++
7 yrs Americo financial annuity logo AmericoPlatinum Assure4.50%A
7 yrs North american annuity logo North AmericanGuarantee Plus4.40%A+

Best 10 Year Fixed Annuity Rates

The highest 10 year guaranteed annuity rate is 4.60% as of August 12, 2022.

Term InsurerAnnuityRateAM BestApply
10 yrs Security sentinel life logo Sentinel SecurityPersonal Choice4.60%B++
10 yrs Oceanview annuity logo OceanviewHarbourview4.30%A-
10 yrs Oxford life logo Oxford LifeMulti-Select4.15%A-
10 yrs Guggenheim life logo GuggenheimPreserve MYGA4.05%A-
10 yrs Reliance standard logo Reliance StandardReliance Guarantee3.90%A++

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Understanding Annuity Rates

Annuity rates are important because they represent the rate of return you will receive the money you invest in an annuity contract. 

Fixed index annuity crediting methods

Fixed Index Annuity Rates

Fixed indexed annuities earn interest based on the performance of a stock market index offering more upside potential along with downside protection.

Calculator icon

Fixed Annuity Rates

Money in a fixed annuity earns interest determined by an annuity rate set by the insurance company. A fixed annuity rate is guaranteed for the initial surrender period. 

Income annuity icon

Immediate Annuity Rates

Income Annuity Payments are guaranteed for life or a number of years and are determined by your age and income payment options.

Fixed annuity icon

Variable Annuity Rates

Variable annuities earn investment returns based on the performance of “subaccounts." You can lose money in a variable annuity.

Types of Annuities Comparison Chart

Principal ProtectionNoYesYesYesYes
Liquidity OptionsYesYesYesNoNo
Maintain Control of AssetYesYesYesNoNo
Guaranteed RateNoNoYesNoNo
Guaranteed IncomeYesYesYesYesYes
Cost of Living Adjustments (COLA)YesYesNoYesYes
Death BenefitYesYesYesYes/NoYes/No
LTC EnhancementsYesYesYesNoNo
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Annuities vs CDs

Fixed annuities work very much like a certificate of deposit (CD) but typically pay higher rates than CDs. Below are some of the similarities between the two:

  • Both pay a guaranteed rate for a set number of years
  • Both provide principal protection
  • Both typically allow free withdrawals of interest
  • Both provide full account value lump-sum death benefit
  • Fixed Annuities grow tax-deferred
  • Fixed Annuities can provide guaranteed lifetime income
  • CDs are FDIC Insured
  • Fixed Annuities are guaranteed by the claims-paying ability of the issuing life insurance company and State Guaranty Associations

CD vs Fixed Annuity Comparison Chart

Issued ByInsurance CompaniesBanks
Investment Amount$2,000 - $1,000,000Essentially Any Amount
Investment Term2 years - 10 years3 months - 5 years
Interest Rates (APY)Varies by product.Varies by bank, term and investment amount.
LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
GuaranteesBacked by Insurer & State Guaranty Associations.Backed by the FDIC.
Death BenefitMay avoid probate.Probate process required.

The Federal Reserve and Annuity Rates

Federal reserve building

Current annuity rates often mirror the interest rates available in bonds. When bond rates increase, annuity rates usually go up as well.

That’s because insurance companies invest most of their general account in fixed-income securities, such as high-grade bonds.

The Federal Reserve signaled it would begin steadily raising interest rates in mid-March, its latest step toward removing stimulus to bring down inflation.

The Federal Reserve is expected to start raising interest rates next month and not slow down until well into 2023, though the slope of the increases might be a bit gentler.

Annuity rates tend to move in the same direction as 10 Year Treasuries because insurance companies invest a large portion of their general account in high-quality bonds.

Data last week showed U.S. consumer prices rose at their fastest pace since the early 1980s, fueling market speculation for a hefty 50-basis-point hike from the Fed’s March 15-16 meeting.¹

Fed Chairman Jerome Powell said Wednesday that the central bank was ready to raise rates at its March 15-16 meeting and could continue to lift them faster than it did during the past decade.

“This is going to be a year in which we move steadily away from the very highly accommodative monetary policy that we put in place to deal with the economic effects of the pandemic,” he said at a news conference following a Fed policy meeting.²

If that holds true annuity rate increases will likely continue throughout 2022.

Best Fixed Annuity Companies

The below table lists the 10 Best Fixed Annuity Companies by Individual U.S. Sales.

Insurance CompanyA.M. Best
2019 Fixed
Annuity Sales
Global Atlantic Financial GroupA75$4,684,876
New York LifeA++100$9,863,105
AIG CompaniesA82$7,237,372
Massachusetts Mutual LifeA++98$3,854,866
Pacific LifeA+93$2,873,727
Principal Financial GroupA91$2,844,881
Western Southern GroupA+96$2,468,257
Symetra FinancialA82$2,103,435
Great AmericanA82$1,403,162

Today's Best Fixed Annuities

What is a Fixed Annuity?

With a deferred fixed annuity, the life insurance company guarantees both the rate of return (the annuity rate) and the payout to the investor. Although the word “fixed” might suggest otherwise, the interest rate on a fixed annuity can change over time.

The fixed annuity contract will explain whether, how, and when this can happen. 3 year fixed annuity rates are fixed for the initial 3 year contract period and a new interest rate is declared at the end of the 3 years.

You’ll have an option to withdraw your funds, transfer to a new investment vehicle or accept the new declared rate.

Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.”  Financial Industry Regulatory Authority (FINRA).  Visit FINRA’s Fixed Annuities Webpage

Fixed Annuity Pros and Cons


  • Guaranteed Annuity Rates
  • Grow Tax-Deferred
  • Principal Protection
  • You can exchange your fixed annuity for a new one via a 1035 Exchange 
  • The most simple type of annuity
  • Usually provide some liquidity
  • Low investment minimums
  • Full account value passes directly to the beneficiary at death


  • Withdrawals before age 59½ may have a 10% IRS penalty
  • Offer limited lifetime Income Options
  • Surrender charges for excess withdrawals during the initial surrender period
  • Fixed annuities don’t offer a rate of returns as high as the stock market
  • Limited Liquidity
  • Annuity rates may not keep up with inflation

Are Fixed Annuities Taxed?

Under current federal law, annuities receive special tax treatment. Income tax on annuities is deferred, which means you don’t pay taxes on the interest your annuity earns until you withdraw it from your annuity. 

Tax-deferred accumulation is not the same as tax-free accumulation. 

An advantage of tax deferral is that the tax bracket you are in when you receive annuity income payments may be lower than the one you are in during the accumulation period. 

You will also be earning interest on the amount you would have paid in taxes during the accumulation period. 

Most states’ tax laws on annuities follow federal law. You should consult a professional tax advisor to discuss your individual tax situation.

Roth IRA Annuity Taxation

If you buy an annuity using a Roth or Roth 401(k) you likely will not pay federal income tax at all.

Qualified Annuity Taxation

Any annuity purchased with qualified funds, like a 401(k) or IRA, is considered a qualified annuity. Qualified funds are monies that you have never paid taxes on such as a traditional IRA or a traditional 401(k).

When you begin to make withdraws from a qualified annuity you will pay normal federal income taxes.

Non-Qualified Annuity Taxation

A non-qualified annuity is an annuity purchased with after tax-dollars such as money from savings, checking accounts, or a personal brokerage account.

You will only pay tax on your earnings with you withdraw your money.

Frequently Asked Questions

Fixed annuities are not FDIC insured. Instead, they are insured by the claims-paying ability of the issuing life insurance company and by State Guaranty Associations.

Fixed annuities do not have annual fees in general. However, there are some fixed annuity products that offer optional income riders, death benefit riders, or long-term care riders for an additional annual fee.

A 5 year fixed annuity is an annuity contract with a five-year surrender charge schedule (CDSC). When you purchase a 5-year fixed annuity the interest rate is guaranteed for the initial 5-year contract period and you agree to keep the annuity for the 5-year contract term.

The best fixed annuity rate today is 4.50% available in a 7 year annuity; 4.25% for a 5 year annuity, 4.00% for a 3 year fixed annuity, and 3.50% for a 2 year annuity (as of July 7, 2022).

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