Looking for the best 7-year annuity rate? You’re in the right place. A 7-year fixed annuity (MYGA) can deliver a higher guaranteed yield than 3–6 year terms while avoiding a full decade-long lockup. At Diversified Insurance Brokers, we compare products from 75+ top-rated carriers to help you secure competitive multi-year guarantees—without sales pressure or hidden fees.

A 7-year fixed annuity locks a guaranteed interest rate for 84 months, protects principal, and grows tax-deferred. At maturity, you can renew, change terms, or take a full distribution—so you stay in control as rates and goals evolve.

What Is a 7-Year Fixed Annuity?

A 7-year MYGA is an insurance contract that credits a contractual fixed rate for seven consecutive years. Interest compounds tax-deferred until you take distributions. When the term ends, most contracts provide an election window to renew at then-current rates, roll to another annuity, or withdraw without surrender charges.

Who Should Consider a 7-Year Annuity?

The 7-year term suits savers who want more guaranteed yield than 3–5–6 year options and are comfortable with a mid-to-long commitment. Consider a 7-year MYGA if you’re:

• Laddering across 3–5–7–10 years to create reliable reinvestment points and periodic liquidity.
• Rolling over CDs or cash to lock a multi-year guarantee while rates are attractive.
• Covering a known time horizon (late-career runway, future purchase, tuition window).
• Prioritizing principal protection and predictable growth over market risk.

Safety matters: We recommend carriers rated A- or better by independent agencies. Fixed annuities are backed by the insurer’s general account and supported by state guaranty associations up to statutory limits.

Benefits of a 7-Year MYGA

• Typically Higher Guaranteed Yield: Seven-year terms often credit more than 3–6 year options.
• Tax-Deferred Growth: Earnings compound without annual taxation until withdrawal.
• Principal Protection: No market downside—your growth is contractual.
• Built-In Liquidity: Many contracts allow up to 10% penalty-free each year (check your policy).
• Flexible Maturity Choices: Renew, change terms, or take a full distribution at the end of year seven.

Why 7-Year Rates Move

Carrier rates reflect bond yields, portfolio positioning, and competitive dynamics. Because those inputs change, the “best 7-year annuity rate” can shift quickly. Our team monitors 75+ carriers so you can capture favorable windows—small differences (0.15%–0.25%) can compound meaningfully over seven years.

How to Compare 7-Year Annuity Options

• Financial Strength: Favor A- or better ratings for long-term reliability.
• Liquidity Provisions: Confirm penalty-free amounts (often 10%) and any interest-only access.
• Renewal Rules: Know your election window; some contracts auto-renew if you take no action.
• Minimums & Issue Ages: Typical minimums $10,000–$25,000; age limits vary by carrier.
• MVA (Market Value Adjustment): Understand how an MVA can affect early withdrawals during the term. See our Market Value Adjustment Explained guide.

Laddering with a 7-Year “Yield Rung”

Laddering spreads purchases across different terms so something matures on a predictable schedule. A 7-year rung can boost overall ladder yield while other rungs keep nearer-term access. On maturity, roll to a new 7-year if rates are compelling, extend to 10 years, or shorten if liquidity needs change.

7-Year MYGAs vs. CDs & Money Markets

• Tax Treatment: Annuity growth is tax-deferred; CD interest is taxed annually.
• Yield: Insurers can often credit higher fixed rates than banks due to different investment models.
• Flexibility at Maturity: Renew, withdraw, or pivot to an income or indexed annuity based on goals.
• Risk Profile: No market volatility—your rate is contractual and guaranteed for seven years.

Many retirement savers pair a 7-year MYGA with shorter and longer rungs—using the 7-year for dependable mid-to-long horizon growth while keeping other funds liquid or positioned for higher multi-year yields.

Next Step: Compare Current Fixed Annuity Rates

See live 7-year MYGA offerings and carrier specifics on our Fixed Annuity Rate Page. Rate windows can be brief—review options now and decide with confidence.

Related Topics to Explore

• Best Short-Term MYGA Annuities
• Tax-Deferred Annuity Strategies
• Annuity Surrender Charges Explained
• Guaranteed Lifetime Withdrawal Benefits Explained
• Annuity Rollover Options for Teachers