Looking for the best 8-year annuity rate? You’re in the right place. An 8-year fixed annuity (MYGA) can offer a higher guaranteed yield than 3–7 year terms while stopping short of a full decade-long commitment. 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.

An 8-year fixed annuity credits a guaranteed rate for 96 months, protects principal, and grows tax-deferred. At maturity, you can renew, choose a different term, or take a full distribution—keeping you in control as rates and goals evolve.

What Is an 8-Year Fixed Annuity?

An 8-year MYGA is an insurance contract that locks a contractual fixed rate for eight consecutive years. Interest compounds tax-deferred until distribution. 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 an 8-Year Annuity?

The 8-year term suits savers who want more guaranteed yield than mid-range terms and are comfortable with a defined, longer horizon. Consider an 8-year MYGA if you are:

• Laddering across 3–5–7–8–10 years to blend yield with periodic liquidity.
• Rolling over CDs/cash to lock a strong 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 an 8-Year MYGA

• Typically Higher Guaranteed Yield: Eight-year terms often credit more than 3–7 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 eight.

Why 8-Year Rates Move

Carrier rates reflect bond yields, portfolio positioning, and competition. Because those inputs change, the “best 8-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 eight years.

How to Compare 8-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 an 8-Year “Yield Rung”

Laddering spreads purchases across different terms so something matures on a predictable schedule. An 8-year rung can lift overall ladder yield while shorter rungs keep nearer-term access. At maturity, roll to a new 8-year if rates are compelling, extend to 10 years, or shorten if liquidity needs change.

8-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 eight years.

Many retirement savers pair an 8-year MYGA with shorter and longer rungs—using eight years for dependable longer-horizon growth while keeping other funds liquid or positioned for higher multi-year yields.

Next Step: Compare Current Fixed Annuity Rates

See live 8-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