Fixed Annuity Rates September 2021

Fixed Annuity Rates September 2021

CompanyAnnuityTermRateRatings
United of OmahaUltra Premier 552.00A , S&P A
United of OmahaUltra-Premier 772.25A+, S&P A+
StandardFocused Growth 3 - $100K+31.50A, S&P A+
StandardFocused Growth 3 < $100K31.40A, S&P A
StandardFocused Growth 5 <$100K51.95A, S&P A+
StandardFocused Growth 7 $100K+72.15A, S&P A+
Standard Focused Growth 7 < $100K72.05A, S&P A
StandardFocused Growth 5 $100K+5
2.05A, S&P A
SagicorMilestone MYGA 3 - $100K+32.05A-
SagicorMilestone MYGA 3 $50K31.50A
SagicorMilestone MYGA 3 - <$50K31.10A-
SagicorMilestone MYGA 4 $100K4
2.10A
SagicorMilestone MYGA 4 - $50K+41.60A-
SagicorMilestone MYGA 4 $50K41.10A
SagicorMilestone MYGA 5 $100K+52.50A-
SagicorMilestone MYGA 5 < $50K52.10A
SagicorMilestone MYGA 5 - <$50K51.65A-
SagicorMilestone MYGA 6 $100K62.50A
SagicorMilestone MYGA 6 $50K62.35A
SagicorMilestone MYGA 6 - <$50K61.90A-
SagicorMilestone MYGA 7 $100K72.60A
SagicorMilestone MYGA 7 $50K72.40A
Reliance StandardEleos MVA52.25A , S&P A
Reliance StandardEleos-SP52.10A++, S&P A+
Fidelity and Guaranty FG Guarantee Platinum 331.95A-, S&P A-
Fidelity and Guaranty FG Guarantee Platinum 552.65A-
Fidelity and Guaranty FG Guarantee Platinum 772.80A-, S&P A-
Delaware LifePinnacle 331.45A-, S&P BBB+
Delaware LifePinnacle 552.00A-, S&P BBB+
Delaware LifePinnacle 772.25A , S&P BBB
American LifeAmerican Classic 332.25B
American LifePlan Gap52.45B++
SILAC Insurance CoSecure Savings Elite 222.15B+
SILAC Insurance CoSecure Savings Elite 221.85B+
SILAC Insurance CoSecure Savings Elite 221.75B+
SILAC Insurance CoSecure Savings Elite 552.95B+
SILAC Insurance CoSecure Savings Elite 552.80B+
SILAC Insurance CoSecure Savings Elite 552.70B+
Guaranty Income Life Rate Lock 8 $250K82.75B
Guaranty Income Life Rate Lock 882.65B++
Guaranty Income Life Rate Lock 9 - $250K+93.00B++
Guaranty Income Life Rate Lock 9 92.90B++
American NationalPalladium MYG 3yr 250K+32.00A, S&P A
American NationalPalladium MYG 3yr $100K+31.85A, S&P A
American NationalPalladium MYG 3yr < $100K31.75A, S&P A-
American NationalPalladium MYG -5yr $250K+52.15A , S&P A
American NationalPalladium MYG 5yr $100K+51.90A , S&P A
American NationalPalladium MYG 6yr $250K+62.45A , S&P A
American NationalPalladium MYG 6yr $100K+62.30A , S&P A
American NationalPalladium MYG 6yr < $100K62.20A , S&P A
American NationalPalladium MYG -7yr $250K+72.45A , S&P A
American NationalPalladium MYG -7yr $100K+72.30A , S&P A
American National Palladium MYG 7yr < $100K72.20A , S&P A
American GeneralAmerican Pathway Vision MYG 4 $100K41.70A, S&P A
American Equity GuaranteeShield 331.45A , S&P A
American Equity GuaranteeShield 552.00A , S&P A
Liberty Bankers LifeBankers Elite 3 (NO W/D)32.10A
Liberty Bankers LifeBankers Elite 5 (NO W/D)52.75A-
Liberty Bankers LifeBankers Elite 7 (NO W/D)72.90A
OceanviewOceanview Harbourview 3 Year MYGA32.35A-
OceanviewOceanview Harbourview 2 21.65A-
Atlantic Coast LifeSafe Harbor (Most States)103.2B++
Atlantic Coast LifeSafe Harbor (Most States)53.00B++
Atlantic Coast LifeSafe Haven (Most States)63.07B++
OceanviewOceanview Harbourview 4 Year 42.60A-
Security Sentinel LifePersonal Choice73.10B++
Liberty Bankers LifeBankers Elite 9 (NO W/D)93.00A

Fixed Annuity Guide

In this guide, I will explain exactly how a fixed annuity works and highlight the key features to consider in addition when shopping for the best fixed annuity rate.

A fixed deferred annuity is essentially a certificate of deposit (CD) that is issued by an insurance company rather than a bank, in fact, they are often referred to as “CD Type Annuities“.

That is a little bit of an oversimplification but the good news is a fixed annuity, or multi-year guaranteed annuity (MYGA), is the most simple of all annuities.

If you commit 10 minutes to walk through this guide, and perhaps a few of the referenced sources, you’ll walk away with a firm understanding of how fixed annuities and annuity rates work. 

Today's Best Annuity Rates by Term

Below are our current best-fixed annuity rates for annuity contracts two to ten years in length.

Average annuity rates have been hovering in this range for months and we don’t expect fixed annuity rates to increase in the near term. You’ll find Indexed Annuity Rates here if you’d like to look at them instead.

Fixed Annuity and MYGA Product Guides

If you have specific questions after reviewing the above annuity rates you’ll find the manufacturer’s product guide on the bookshelves below. 

You can view them as real 3D flipbooks in your browser or download/ print the PDF as well. You may also contact us via message or by phone at 855-583-1104.

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Today's Best Short Term Fixed Annuity Rates

4 Year Annuity Rate

Harbourview 4 Year Fixed Annuity
2
60%
  • Oceanview Life
  • A- AM Best Rating
  • Yr.1 None | 10% Yrs. 2+
Liquidity

2 Year MYGA Rate

Secure Savings Elite
2
15%
  • SILAC
  • B+ AM Best Financial Rating
  • No Liquidity

5 Year Annuity

Safe Haven Fixed ANnuity
3
00%
  • Atlantic Coast Life
  • B++ AM Best Rating
  • No Liquidity

Best 3 Year Fixed Annuity Rates

Oceanview Harbourview offers the best 3 year fixed annuity rate currently at 2.35% guaranteed. Below are the best 3 year fixed annuity rates for September.

 Fixed Annuity CompanyRatingFixed AnnuityLiquidity
1st Yr / Yr 2+
RateApplication
Oceeanview logo A-Harbourview 30% / 10%2.35%Apply
Liberty bankers life logo Liberty BankersB++Bankers 3None2.15%Apply
Sagicor life logo Sagicor Life InsuranceA-Milestone MYGA 3 ($100K+)0% / 10%2.05%Apply
Liberty bankers life logo Liberty BankersB++Bankers 3Interest Only2.00%Apply

Best 5 Year Fixed Annuity Rates

The best 5 year fixed annuity rate is 3.00% as of September 16, 2021. You’ll find our top 5 year fixed annuity rates in the table below.

Best 10 Year Fixed Annuity Rates

The best 10 year fixed annuity rate is 3.20% as of September 12, 2021. The table below lists all of the top 10 year guaranteed rate annuities.

Annuity CompanyAM BestFixed AnnuityRate
Atlantic Coast LifeB++Safe Haven 103.20%
Sentinel Security Life B++Personal Choice Annuity 103.20%
Guggenheim Life and AnnuityB++Preserve MYGA 10 $250K+3.10%
Oceanview LifeA-Harbourview 103.10%
Guaranty Income LifeB++Guaranty Rate Lock 10 $250K+3.00%
Guggenheim Life and AnnuityB++Preserve MYGA 10 3.00%
Upstream LifeB++Secure Legacy 10 Year2.90%
Upstream LifeB++Secure Legacy 10-Year 81+2.65%
Oxford Life InsuranceA-Multi-Select 102.60%
American NationalAPalladium MYG Annuity 10 2.55%

Fixed Annuity vs CD

Fixed annuities work very much like a certificate of deposit (CD). 

A fixed annuity, or multi-year guaranteed annuity (MYGA), pays a set guaranteed interest rate for the entire initial guarantee period- just like a CD.

Annuities are not guaranteed by the FDIC so it is important to consider the financial strength ratings of the issuing annuity company when shopping for an annuity.

While not FDIC insured, State 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. 

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

CD vs Fixed Annuity Comparison Table

 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 RATESRates by product but usually higher.Varies by financial institution, term and investment amount.
LIQUIDITYUsually, 10% annually or interest earned.Almost always accumulated interest.
GUARANTEESThe claims-paying ability to issue Insurer and by State Guaranty Funds.Backed by the FDIC up to $250,000 per depositor, per institution.
DEATH BENEFITPassed directly to the beneficiary without probate process.Probate process required.

Read More About CD Type Annuities

Get a Fixed Annuity Rate Quote

What is a Fixed Annuity?

A fixed annuity, or MYGA, is a type of tax-deferred retirement savings account that pays a guaranteed interest rate for a specified period of time – typically two to ten years.

They pay a guaranteed annuity rate which is the percent of interest at which your annuity grows annually. If you’ve ever purchased a certificate of deposit (CD) or had a high yield savings account -you likely are familiar with how annuity rates are applied.

Bank deposits grow compounding at an interest rate referred to as annual percentage yield (APY), which is the actual rate of return earned on an investment in one year because interest is compounded.

Deferred Fixed Annuities also earn compound interest for the length of the contract term, but this rate is referred to as an annuity rate rather than an APY.

How Do Fixed Annuities Work?

When you purchase a fixed annuity you are entering into a contract with the annuity company. They provide you with a guaranteed annuity rate for the length of the contract and in exchange, you commit to keeping your investment for the entire length of the annuity contract term.

For example, if you purchase a 5 year fixed annuity with a 3.00% annuity rate, you will earn 3.00% interest guaranteed for 5 years.  

Early withdrawals taken during the initial annuity rate period are subject to a Contingent Deferred Surrender Charge (CDSC). These surrender charges are very much like a Contingent Deferred Sales Charge a mutual fund investor would pay when selling class-b mutual fund shares within a certain number of years from the original purchase date.

Some fixed annuities do provide you with some access to your money in the form of an annual “Free Withdrawal” amount. This is typically 10% of your account value or interest earned. 

Other fixed annuities provide no liquidity and usually have a higher guaranteed annuity rate – this is something to pay attention to.

Top 10 Best Fixed Annuity Companies

Each year the Secure Retirement Institute publishes total U.S. Individual Annuity Sales and breaks out the results for the top 20 Annuity Companies. 

Fixed annuity sales broke sales records in 2019 with sales of $139.8 billion in 2019, up 5% from the prior year.

The below table lists the top 10 Best Fixed Annuity Companies by sales in 2019. In addition to the total sales for each company, we’ve included their Comdex Score and AM Best Rating as well.

Insurance CompanyA.M. Best
Rating
Comdex
Score
2019 Fixed
Annuity Sales
New York LifeA++100$9,863,105.00
AIG CompaniesA82$7,237,372.00
Global Atlantic Financial GroupA75$4,684,876.00
Massachusetts Mutual LifeA++98$3,854,866.00
Pacific LifeA+93$2,873,727.00
Principal Financial GroupA91$2,844,881.00
Western Southern GroupA+96$2,468,257.00
Symetra FinancialA82$2,103,435.00
MetLifeA+95$1,443,005.00
Great AmericanA82$1,403,162.00
New York LifeRating
A.M. Best Rating (15 possible)A++ (1)
Fitch (21 possible)AAA (1)
Standard & Poor's (20 possible)AA+ (1)
Moody's (21 possible)Aaa (1)
Comdex100
American General Life Insurance CompanyRating
A.M. Best Company (Best's Ratings, 15 Ratings)A (3)
Moody's (Financial Strength, 21 Ratings)A2 (6)
Standard & Poor's (Financial Strength, 20 Ratings)A+ (5)
Fitch Ratings (Financial Strength, 21 Ratings)A+ (5)
Weiss (Safety Rating, 16 Ratings)B (5)
Comdex Ranking (Percentile in Rated Companies)82

#1. Selling Fixed Annuity: American Pathway Vision

Global Atlantic Financial Group Rating
A.M. Best Rating (15 possible ratings)A (3)
Moody's (21 possible ratings)A3 (7)
Fitch (21 possible ratings)A (6)
Standard & Poor's (Financial Strength, 20 Ratings)A- (7)
Comdex (percentile of all rating companies)75

#1. Selling Fixed Annuity: SecureFore Fixed Annuity

Massachusetts Mutual Life Insurance CompanyRatings
A.M. Best Rating (15 possible)A++ (1)
Fitch (21 possible)AA+ (2)
Standard & Poor's (20 possible)AA+ (2)
Moody's (21 possible)Aa3 (4)
Comdex98

#1. Selling Fixed Annuity: Mass Mutual Stable Voyage

Pacific Life Insurance Company Rating
700 Newport Center Dr, Newport Beach, CA 92660
A.M. Best Rating (15 possible ratings)A+ (2)
Moody's (21 possible ratings)A1 (5)
Fitch (21 possible ratings)AA- (4)
Standard & Poor's (Financial Strength, 20 Ratings)AA- (4)
Comdex (percentile of all rating companies)93

#1. Selling Pacific Life Fixed Annuity: Pacific Secure Income

Principal logo

#6. Principal Financial Group

Principal Financial GroupRatings
A.M. Best Rating (15 possible)A+ (2)
Fitch (21 possible)AA- (4)
Standard & Poor's (20 possible)A+ (5)
Moody's (21 possible)A1 (5)
Comdex91

#1. Selling Fixed Annuity: Principal Select Series Annuity

Western & Southern Life Insurance CompanyRatings
A.M. Best Rating (15 possible)A+ (2)
Fitch (21 possible)AA (3)
Standard & Poor's (20 possible)AA- (4)
Moody's (21 possible)Aa3 (4)
Comdex96

#1. Selling Annuity: MultiVantage Series 

SymetraRatings
A.M. Best Rating (15 possible)A (3)
Fitch (21 possible)AA- (4)
Standard & Poor's (20 possible)A (6)
Moody's (21 possible)A1 (5)
Comdex82
Met Life - Metropolitan Life Insurance CompanyRatings
A.M. Best Rating (15 possible)A+ (2)
Fitch (21 possible)AA- (4)
Standard & Poor's (20 possible)AA- (4)
Moody's (21 possible)AA3 (4)
Comdex95
Great American Insurance GroupRating
301 E Fourth St., Cincinnati, OH 45202
A.M. Best Rating (15 possible ratings)A (3)
Moody's (21 possible ratings)A2 (6)
Standard & Poor's (20 possible ratings)A+ (5)
Comdex (percentile of all rated companies)82

#1. Selling Annuity: SecureGain

Popular Fixed Annuity Companies

Annuity Rate Overview

Fixed Annuity Pros

Fixed annuities are meant to be long-term retirement savings vehicles.  They provide a safe, tax-advantaged way to earn a good return on savings needed soon. They are remarkably like CDs, with added benefits:

Fixed Annuity Cons
  • Withdrawals Prior to Age 59½ May Have a 10% IRS penalty.
  • Only Offer Limited Lifetime Income Options

Frequently Asked Questions

Fixed annuities are not FDIC insured. Instead, they are insured by the claims paying ability of the issuing insurance company. Annuity owners are protected by the State Guaranty Association which provides protection to policyowners should an insurer become insolvent. State laws specify the lines of insurance covered by these funds and the dollar limits payable.

There are no fees for any of the fixed annuities listed on this page and, in general, fixed annuities do not have any fees. 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 locked in for the initial 5 year contract period and you agree to keep the annuity for the 5 year contract term.

The best MYGA rate is 3.25 percent for a 7-year surrender period, 3.20 percent for a ten-year surrender period, 3.05 percent for a five-year surrender period, and 2.60 percent for a three-year surrender period.

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