Sagicor Milestone MYGA Fixed Annuity
Sagicor Milestone MYGA 5 Year Minimum Deposit: $100,000 | 2.75% APY Sagicore Milestone MYGA 5
Fixed Annuity Rates September 2021
Fixed Annuity Rates September 2021
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.
| Term | Insurer | Rating | Annuity | Rate |
|---|---|---|---|---|
| 2 yrs | SILAC | B+ | Secure Savings Elite 2 | 2.15% |
| 3 yrs | Oceanview Life | A- | Harbourview 3 | 2.35% |
| 4 yrs | Oceanview Life | A- | Oceanview Harbourview 4 Year Annuity | 2.60% |
| 5 yrs | Atlantic Coast Life | B++ | Safe Haven | 3.00% |
| 6 yrs | Atlantic Coast Life | B++ | Safe Haven | 3.07% |
| 7 yrs | Security Sentinel Life | B++ | Personal Choice | 3.10% |
| 8 yrs | Oxford Life Insurance | A- | Multi-Select MYGA | 2.80% |
| 9 yrs | Liberty Bankers Life | B++ | Bankers Elite 9 | 3.00% |
| 10 yrs | Atlantic Coast Life | B++ | Safe Haven | 3.20% |
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.
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 Company | Rating | Fixed Annuity | Liquidity 1st Yr / Yr 2+ | Rate | Application | |
|---|---|---|---|---|---|---|
| A- | Harbourview 3 | 0% / 10% | 2.35% | Apply | |
| Liberty Bankers | B++ | Bankers 3 | None | 2.15% | Apply |
| Sagicor Life Insurance | A- | Milestone MYGA 3 ($100K+) | 0% / 10% | 2.05% | Apply |
|
| Liberty Bankers | B++ | Bankers 3 | Interest Only | 2.00% | 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.
| Insurer | Fixed Annuity | Rate | AM Best | Liquidity Yr 1 | Yr 2+ | Application |
|---|---|---|---|---|---|
| Sentinel Security Life | Personal Choice Annuity | 3.00% | B++ | None | Apply |
| Atlantic Coast Life | Safe Haven 5 | 3.00% | B++ | None | Apply |
| SILAC | Secure Savings Elite 5 | 2.95% | B+ | None | Apply |
| Americo | Platinum Assure 5 | 2.80% | A | 10% | Apply |
| Nassau Life and Annuity Co | Nassau MYAnnuity 5 0% Free | 2.80% | B+ | None | Apply |
| Upstream Life | Secure Foundation | 2.66% | B++ | Interest Only | Apply |
| Sagicor Life Insurance | Milestone MYGA 5 ($100K+) | 2.75% | A- | None | 10% | Apply |
| SILAC | Secure Savings 5 | 2.70% | B+ | Interest | 5% | Apply |
| Nassau Life and Annuity Co | Nassau MYAnnuity 5X 10%/Free | 2.60% | B+ | 10% | Apply |
| Fidelity & Guaranty Life | FG Guarantee-Platinum 5 | 2.55% | A- | Interest Only | Apply |
Oceanview Harbourview 5 Fixed Annuity
Oceanview Harbourview 5 Fixed Annuity Minimum Deposit: $10,000 Oceanview Harbourview 5 is a 5-year fixed
SILAC Secure Savings Elite 5 Year Fixed Annuity
SILAC Secure Savings Elite 5 Year Fixed Annuity Minimum Deposit: $10,000 | 2.95% APY for
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 Company | AM Best | Fixed Annuity | Rate |
|---|---|---|---|
| Atlantic Coast Life | B++ | Safe Haven 10 | 3.20% |
| Sentinel Security Life | B++ | Personal Choice Annuity 10 | 3.20% |
| Guggenheim Life and Annuity | B++ | Preserve MYGA 10 $250K+ | 3.10% |
| Oceanview Life | A- | Harbourview 10 | 3.10% |
| Guaranty Income Life | B++ | Guaranty Rate Lock 10 $250K+ | 3.00% |
| Guggenheim Life and Annuity | B++ | Preserve MYGA 10 | 3.00% |
| Upstream Life | B++ | Secure Legacy 10 Year | 2.90% |
| Upstream Life | B++ | Secure Legacy 10-Year 81+ | 2.65% |
| Oxford Life Insurance | A- | Multi-Select 10 | 2.60% |
| American National | A | Palladium 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 ANNUITY | CD (CERTIFICATE OF DEPOSIT) | |
|---|---|---|
| SOLD BY | Insurance Companies | Banks |
| AMOUNT YOU CAN INVEST | $2,000 - $1,000,000 | Essentially Any Amount |
| INVESTMENT DURATION | 3 years - 10 years | 3 months - 5 years |
| INTEREST RATES | Rates by product but usually higher. | Varies by financial institution, term and investment amount. |
| LIQUIDITY | Usually, 10% annually or interest earned. | Almost always accumulated interest. |
| GUARANTEES | The claims-paying ability to issue Insurer and by State Guaranty Funds. | Backed by the FDIC up to $250,000 per depositor, per institution. |
| DEATH BENEFIT | Passed 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 Company | A.M. Best Rating | Comdex Score | 2019 Fixed Annuity Sales |
|---|---|---|---|
| New York Life | A++ | 100 | $9,863,105.00 |
| AIG Companies | A | 82 | $7,237,372.00 |
| Global Atlantic Financial Group | A | 75 | $4,684,876.00 |
| Massachusetts Mutual Life | A++ | 98 | $3,854,866.00 |
| Pacific Life | A+ | 93 | $2,873,727.00 |
| Principal Financial Group | A | 91 | $2,844,881.00 |
| Western Southern Group | A+ | 96 | $2,468,257.00 |
| Symetra Financial | A | 82 | $2,103,435.00 |
| MetLife | A+ | 95 | $1,443,005.00 |
| Great American | A | 82 | $1,403,162.00 |
| New York Life | Rating |
|---|---|
| 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) |
| Comdex | 100 |
#1. Selling Fixed Annuity: New York Life Secure Term Choice II Fixed Annuity
| American General Life Insurance Company | Rating |
|---|---|
| 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 Company | Ratings |
|---|---|
| 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) |
| Comdex | 98 |
#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
#6. Principal Financial Group
| Principal Financial Group | Ratings |
|---|---|
| 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) |
| Comdex | 91 |
#1. Selling Fixed Annuity: Principal Select Series Annuity
| Western & Southern Life Insurance Company | Ratings |
|---|---|
| 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) |
| Comdex | 96 |
#1. Selling Annuity: MultiVantage Series
| Symetra | Ratings |
|---|---|
| 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) |
| Comdex | 82 |
#1. Selling Annuity: Select 5 Modified, Single-Premium, Fixed Annuity
| Met Life - Metropolitan Life Insurance Company | Ratings |
|---|---|
| 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) |
| Comdex | 95 |
#1. Selling Annuity: MetLife Fixed Annuity FA Fixed Deferred Annuity
| Great American Insurance Group | Rating |
|---|---|
| 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:
- Provide a Guaranteed Rate of Return
- A Fixed Annuity Grows Tax-Deferred
- A Fixed Annuity Provides Principal Protection
- Offer Some Liquidity
- Most Simple of All Annuities
Fixed Annuity Cons
- Withdrawals Prior to Age 59½ May Have a 10% IRS penalty.
- Only Offer Limited Lifetime Income Options
Frequently Asked Questions
Is a Fixed Annuity Safe?
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.
Does a fixed annuity have fees?
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.
What is a 5 Year Fixed 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 locked in for the initial 5 year contract period and you agree to keep the annuity for the 5 year contract term.
What are current annuity rates?
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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Jason Caudill
Jason Caudill is passionate about annuities and the important role they play inside of a retirement portfolio. Prior to joining My Annuity Store, he spent 15 years educating financial advisors on annuity solutions as a VP of Marketing for an insurance company and as an RVP for an independent brokerage firm. During that time Jason wholesaled over $1.5 Billion in annuity contracts and he holds Series 6 and 63 Securities Licenses and is an active annuity and life insurance producer.
