Multi-year guaranteed annuity from Global Atlantic Financial Group .
More MYGA options currently available from this carrier.
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Read our full Global Atlantic Financial Group review for a detailed look at the company's history, product lineup, and financial strength.
Global Atlantic Financial Group carries an A.M. Best rating of A, an indicator of the company's financial strength and ability to meet its insurance obligations. When you purchase an annuity, your guarantees are backed by the issuing insurance company's claims-paying ability, so carrier strength matters.
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A fixed annuity is an insurance contract that pays a guaranteed interest rate on your premium, with principal protection from market loss. A multi-year guaranteed annuity (MYGA) is a fixed annuity that locks in one rate for a set term, typically 3 to 10 years.
Fixed annuities are not investments. They are insurance products backed by the issuing carrier's reserves and claims-paying ability, with state guaranty associations providing additional protection.
Read the MYGA guide →MYGA earnings grow tax-deferred and are taxed as ordinary income only when withdrawn. For non-qualified contracts, only the interest is taxable; for qualified (IRA) contracts, the full withdrawal is taxed as ordinary income.
Withdrawals before age 59½ may incur a 10% IRS penalty on the gain. At maturity, you can take cash, roll into a new MYGA, do a 1035 exchange, or annuitize for income.
Read about MYGA taxation →Surrender charges apply if you withdraw more than the contract's free withdrawal allowance during the surrender period. Charges typically start at 8-9% in year one and decline 1% per year until they reach zero at the end of the term.
Most contracts allow penalty-free withdrawal of 10% of the contract value each year. Required Minimum Distributions (RMDs) for IRA contracts are generally permitted penalty-free.
Understanding surrender charges →Live rate feed Last updated April 27, 2026. Rates refresh every 6 hours via the AnnuityRateWatch API. Subject to change without notice.
