Fixed Annuity Calculator

Written by Jason Caudill, MBA | Reviewed by My Annuity Store Editorial Team
Updated March 22, 2026

You can calculate the future value of an annuity using the fixed annuity calculator below. What you’ll need:

  • Investment Amount
  • Interest Rate (see live annuity rates here)
  • Term (how long the annuity contract is in years)
  • Compound frequency (how often interest compounds – use annual if unsure)
Fixed Annuity • Flexible Compounding
Initial premium (before taxes/fees).
Please enter an amount greater than 0.
Annual nominal rate. APY varies with compounding.
Please enter a rate between 0% and 20%.
Guaranteed period (typical MYGA terms are 2–10 years).
Please enter a whole number of years between 1 and 20.
Many MYGAs credit annually; others shown for comparison.
Interest treatment:
Tip: results update as you type.
Educational tool. Contract crediting, MVAs, and surrender charges vary by carrier. Request a carrier illustration for exact figures.

Projected Maturity Value

$0

Total Interest

$0

Effective APY

0.00%

Enter your numbers to see the projection. APY reflects your compounding choice and interest treatment.

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Editorial Disclosure: Our editorial team independently reviews and rates annuity products. We may earn commissions when you request a quote through our partner links. This content is for informational purposes only and does not constitute financial advice. Learn more.
Disclaimer: This content is for informational and educational purposes only. It does not constitute financial, tax, or legal advice. Annuity products vary by state and carrier. Always consult a licensed financial professional before making any financial decisions. My Annuity Store is an independent marketplace and does not provide investment advice.
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Pros and Cons of Fixed Annuities

Before you commit to a fixed annuity, weigh the advantages and drawbacks for your retirement situation.

✓  Pros

  • ✓ Guaranteed rate locked in for the full term — no surprises
  • ✓ Principal is 100% protected from market losses
  • ✓ Often pays significantly more than CDs or savings accounts
  • ✓ Tax-deferred growth — no annual tax bill until withdrawal
  • ✓ Up to 10% annual free withdrawal without surrender charge
  • ✓ State guaranty association coverage (typically up to $250,000)
  • ✓ Simple to understand — no moving parts or index tracking

✗  Cons

  • ✗ Surrender charges apply if you withdraw more than 10% early
  • ✗ Not FDIC insured — backed by the insurance company, not the government
  • ✗ Earnings taxed as ordinary income (not capital gains rates)
  • ✗ 10% IRS early-withdrawal penalty before age 59½
  • ✗ Rate is fixed — you won't benefit if market rates rise
  • ✗ Less liquidity than a savings account or money market

Learn more: Are annuities safe?

Compare Top MYGA Rates by Term

See today's highest guaranteed rate from an A-rated carrier for each term length.

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3-Year MYGA
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5-Year MYGA
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7-Year MYGA
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Rates sourced from AnnuityRateWatch. A-rated carriers (AM Best) only. Not a solicitation. Rates vary by state. Verify before purchasing.

Types of Annuities

Insurance companies offer several types of annuities to fit different financial goals. Here's how they compare.

A MYGA (Multi-Year Guaranteed Annuity) is the simplest fixed annuity. Your rate is guaranteed for the entire term — 3, 5, or 7 years. No market exposure, no index tracking. What you see is what you earn.

Best for: Savers who want a predictable, guaranteed return and are comfortable locking funds for a set term. Often compared to CDs but frequently pays more.

Learn more about MYGAs →

A Fixed Indexed Annuity (FIA) links your interest credits to a market index (like the S&P 500) with a floor of 0% — so you can never lose principal. Upside is capped via participation rates or caps.

Best for: Investors who want some market participation with a safety net. More complex than MYGAs but potentially higher returns in strong market years.

Learn more about FIAs →

A SPIA (Single Premium Immediate Annuity) converts a lump sum into a guaranteed income stream — monthly checks that start within 30 days and continue for life or a set period.

Best for: Retirees who need guaranteed income immediately and want to eliminate the risk of outliving their money. The "pension replacement" product.

Learn more about SPIAs →

A Variable Annuity invests your premium in sub-accounts (similar to mutual funds). Returns fluctuate with the market — you can earn more but can also lose principal.

Best for: Long-term investors who want market exposure inside a tax-deferred wrapper and are comfortable with investment risk. Higher fees than fixed products.

Learn more about variable annuities →

A RILA (Registered Index-Linked Annuity) offers partial market participation with a defined buffer against losses (e.g., 10% or 20%). Unlike FIAs, RILAs can lose money — but losses are limited.

Best for: Investors willing to accept limited downside in exchange for higher upside potential than a traditional FIA. A middle ground between fixed and variable.

Learn more about RILAs →

Rate Methodology

My Annuity Store monitors MYGA rates from over 50 A-rated insurance carriers via AnnuityRateWatch. Our rate data refreshes every 6 hours.

To make our list, a carrier must be rated A− or better by AM Best — a financial strength rating that indicates the insurer's ability to meet obligations. Carriers with ratings of B++ or lower are excluded regardless of how attractive their rate appears.

Rates are sorted by highest guaranteed APY within each term group. Products using simple interest (SI) are labeled — the effective compound yield is lower than the stated rate. Minimum premiums shown are for non-qualified (after-tax) purchases.

Data: AnnuityRateWatch · A-rated carriers only · Updated daily
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