Understanding Multi-Year Guaranteed Annuities (MYGAs)
If you’re looking for a safe, predictable way to grow your retirement savings without the volatility of the stock market, Multi-Year Guaranteed Annuities (MYGAs) might be the answer. These fixed annuities lock in a guaranteed interest rate for a specific number of years—typically between 2 and 10—offering stable, tax-deferred growth. Unlike CDs, which are taxed annually, MYGAs allow your interest to compound until you withdraw it.
MYGAs are especially appealing to individuals nearing retirement who want to preserve capital while earning a competitive rate. Many contracts offer higher yields than bank certificates of deposit and come with flexible surrender terms, giving you options for liquidity if needed. You can ladder them like CDs for different maturity dates or use them to cover known expenses down the road.
They’re also a great solution for people sitting on idle cash in a savings account, checking account, or brokerage money market—offering better returns without taking on additional risk. And because MYGAs are issued by insurance companies, they’re backed by the financial strength of the carrier, making them a dependable part of a diversified retirement strategy.
At Diversified Insurance Brokers, we help clients compare MYGA rates from over 75 top-rated insurance carriers.We’ll guide you toward the best term and rate based on your goals, liquidity needs, and timeline.
👉 Visit our annuity rate page here
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