Best Fixed Annuity Rates January 2023


Annuity rates vary based on how much you invest, the insurer’s financial rating, the length of the annuity contract, and liquidity features. Shop and compare today’s annuity rates from more than 30 top annuity companies.

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Today's Top
Fixed Rates

2 Year

3 Year

5 Years

10 Year

Today's Best Annuity Rates

As of January 25, 2023, Ibexis offers the best fixed annuity rate of 5.80%* for a 5 year fixed annuity. Fixed annuities provide a guaranteed rate for a specified period of time and are often referred to as a “CD Type Annuity” because of their similarities to a Certificate of Deposit.

The table below lists today’s best fixed annuity rate for 2 to 10-year annuities.

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

Best 3 Year Annuity Rates

Atlantic Coast Life currently has the best 3 year fixed annuity rate of 5.53%.

TermInsurerAnnuityRateAM BestLiquidity
3 Years Atlantic coast life annuity logo Atlantic Coast LifeSafe Haven5.53%B++red
3 Years Oceeanview logo OceanviewHarbourview5.10%A-Green check mark
3 Years Aspida annuity logo ASPIDASynergy Choice5.10%A-Red check mark
3 Years American life logo American LifeAmerican Classic5.00%B++Green check mark
3 Years Athene annuity logo AtheneMaxRate
4.70%AGreen check mark

Best 5 Year Fixed Annuity Rates

The best 5 year fixed annuity rate today is 5.80% available in the Ibexis MYGA Plus Annuity.

TermInsurerAnnuityRateAM BestLiquidity
5 Years Ibexis annuity logo Ibexis LifeIbexis MYGA Plus5.80% SimpleA-Green check mark
5 Years Atlantic coast life logo Atlantic Coast LifeSafe Haven 55.65%B++Red check mark
5 Years Nassau logo NassauMYAnnuity5.50%B++Red check mark
5 Years Americo financial annuity logo AMERICOPlatinum Assure5.40%AGreen check mark
5 Years Athene annuity logo AtheneMaxRate5.35%AGreen check mark

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Best 7 Year Annuity Rates

As of January 25, 2023, the best 7 year fixed annuity rate is 5.64% offered by Atlantic Coast Life Insurance Company. 

TermInsurerAnnuityRateAM BestLiquidity
7 yrs Atlantic coast life logo Atlantic Coast LifeSafe Harbor 5.64%B++Red check mark
7 Years Americo financial annuity logo AmericoPlatinum Assure5.50%AGreen check mark
7 Years Fidelity & guaranty life annuity logo Fidelity & GuarantyGuarantee-Platinum5.40%A-Green check mark
7 Years Athene annuity logo AtheneMaxRate5.40%AGreen check mark

Best 10 Year Annuity Rates

Atlantic Coast Life currently offers the best 10 year fixed annuity rate of 5.35% as of January 16, 2023.

TermInsurerAnnuityRateW/DsAM Best
10 Years Security sentinel life logo Sentinel SecurityPersonal Choice5.35%Red check markB++
10 Years Atlantic coast life annuity logo Atlantic Coast LifeSafe Haven5.35%redB++
10 YearsAig annuity logoAIGAmerican Pathway5.15%Green check markA
10 Years Oceanview annuity logo OceanviewHarbourview5.10%Green check markA-
10 Years Oxford life logo Oxford LifeMulti-Select5.00%Green check markA

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Understanding Annuity Rates

It is important to understand the different types of annuities as annuity rates and guarantees vary drastically from contract to contract.

Fixed annuities provide a fixed rate for a guaranteed period of time; usually the longer you invest the higher your rate will be.

Indexed annuity icon

Fixed Index Annuity Rates

Earn interest based on the performance of a stock market index offering more upside potential along with downside protection.

Fixed annuity rates icon

Fixed Annuity Rates

Fixed annuities interest rates are set by the insurance company and guaranteed for the initial contract term.

Immediate annuity icon

Immediate Annuity Rates

Single premium immediate annuities payments are guaranteed for life or a certain number of years.


Variable Annuity Rates

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

Annuities vs CDs

Fixed annuities work very much like a certificate of deposit (CD) but they typically provide higher guarantees than CD rates. 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/ 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 Interest 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.

Annuity rates are influenced by 10 Year Treasury rates because insurance companies invest a lot of their money in high-quality 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.

Last week’s data showed that US consumer prices are rising at the fastest pace since the early 1980s. This has led to speculation that the Federal Reserve will raise interest rates by 0.5% at its next meeting.

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.

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Today's Best Fixed Annuities

Best Fixed Annuity Companies

The table below the details 10 best U.S. fixed annuity companies by sales. When buying a deferred annuity, factor in the life insurance company’s financial ratings.

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
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What is a Fixed Annuity?

Fixed annuities offer a guaranteed rate of return for a set period of time. For example, when you buy a 5-year annuity your interest rate is guaranteed for the length of the contract but a new rate is declared at the end of the annuity.

The fixed annuity contract will explain whether, how, and when this can happen. Although the word “fixed” might suggest otherwise, the interest rate on a fixed annuity can change over time.

How Are Annuities Taxed?

The interest you earn in an annuity grows tax-deferred which means you don’t have to pay taxes on your earnings until you take it out of the annuity.

Generally speaking, earnings from annuities are taxed at your ordinary income tax rate using the LIFO (last in first out) method 

Roth IRA Annuity Taxation
A Roth IRA annuity is treated like an ordinary Roth IRA and you will not pay taxes.

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 that is not purchased with tax-advantaged funds, such as from a 401(k) or IRA. You will only pay tax on your earnings with you withdraw your money.

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Are Annuities Taxable?

The deciding factor on how your annuity will ultimately taxed depends ultimately on the money you used to buy it.

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 your loved ones 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 equity-type returns  
  • Limited Liquidity
  • Annuity rates may not keep up with inflation
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Frequently Asked Questions

Annuities are not insured by the FDIC. Instead, they are backed 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.

Yes, you can buy a 5 year annuity. 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 highest paying annuity rates as of Januaray 24, 2023, are:

2-Year: 4.75%
3-Year: 5.53%
4-Year: 5.15%
5-Year: 5.80%
6-Year: 5.45%
7-Year: 5.64%
8-Year: 5.00%
9-Year: 5.00%
10-Year: 5.35%

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