The best fixed annuity rates in 2026: Nassau Life leads with 5-year rates around 5.55%, F&G offers the best balance of rate and A-rated strength, and Midland National is the top choice for A+ insurer quality. We ranked 6 MYGA providers by guaranteed rate, AM Best rating, surrender structure, and liquidity provisions.
If you're searching for the best fixed annuity rates in 2026, the top MYGA (Multi-Year Guaranteed Annuity) rates currently range from 5.10%–5.55% for 5-year terms among leading insurers. Nassau Life leads on raw rate for 5- and 7-year terms. F&G and Midland National offer the best combination of competitive rates and financial strength. We ranked 6 providers across guaranteed rate, insurer financial strength, surrender charge structure, and liquidity provisions — so you lock in the right rate with the right company. These rates won't last indefinitely: as the Fed rate cycle turns, fixed annuity rates typically follow Treasury yields lower.
| Criteria | Weight | Why It Matters |
|---|---|---|
| Guaranteed rate (APY) | High | The actual return you lock in — stated APY for full term |
| Financial strength rating | High | AM Best rating — the insurer must outlive your surrender period |
| Surrender charge structure | Medium | Early withdrawal penalties and free withdrawal provisions |
| Liquidity / flexibility | Medium | Death benefit, nursing home waiver, partial liquidity provisions |
Data sources: Wink Intelligence MYGA rate data, AM Best financial strength ratings, individual insurer product prospectuses, Q2 2026.
A Multi-Year Guaranteed Annuity (MYGA) is the annuity equivalent of a CD — you deposit a lump sum with an insurance company and receive a guaranteed interest rate for a defined term (3, 5, 7, or 10 years). Unlike a CD, growth is tax-deferred until withdrawal. Unlike most investments, the return is guaranteed by contract regardless of market performance.
Fixed annuities are best suited for retirees or near-retirees who want to lock in a guaranteed rate on a portion of their savings — particularly money earmarked for income in years 5–15 of retirement. For a full framework on how annuities fit into a retirement income strategy, read our complete guide to annuities for retirement income.
Best for: Rate-maximizing savers comfortable with a newer insurer
5-year rate: ~5.55% APY
7-year rate: ~5.40% APY
AM Best Rating: A- (Excellent)
Minimum premium: $10,000
Nassau Life and Annuity consistently posts some of the highest guaranteed rates in the MYGA market, particularly for 5- and 7-year terms. Their Nassau Personal ProtectionChoice series offers straightforward guaranteed rates with a competitive 10% free withdrawal provision annually. AM Best A- is a solid investment-grade rating — not the highest on this list, but adequate for terms under 10 years. Surrender charge periods match the term (no extended surrender after maturity). Nassau is best for savers who want the maximum guaranteed rate and have confirmed the insurer strength fits their risk tolerance.
Retirees age 60–75 who want to maximize the guaranteed rate on a 5- or 7-year allocation and are comfortable with A- rated insurers. If you're allocating more than $200,000 with a single insurer, consider splitting between Nassau and a higher-rated carrier. See our MYGA annuity guide for detailed comparison against CDs.
Best for: Most retirees wanting competitive rates with strong insurer backing
5-year rate: ~5.35% APY
7-year rate: ~5.25% APY
AM Best Rating: A (Excellent)
Minimum premium: $10,000
F&G is the sweet spot of the MYGA market in 2026 — AM Best A rating with rates 10–20 basis points below the absolute market leaders. For most retirees, this tradeoff is correct: the marginal rate difference between an A- and A carrier is rarely worth the downgrade in insurer quality. F&G's Guarantee Platinum series (reviewed here) is their flagship MYGA product with clean surrender terms, 10% free withdrawal, and a terminal illness waiver. F&G is publicly traded (NYSE: FG) with $50B+ in assets under management, adding an additional layer of transparency beyond AM Best ratings.
Retirees who want competitive rates without compromising on insurer quality. F&G is the default recommendation for most 5- to 7-year MYGA allocations. For a detailed product breakdown, see our F&G Guarantee Platinum 7 MYGA review.
Best for: Retirees prioritizing financial strength for 7–10 year terms
5-year rate: ~5.15% APY
10-year rate: ~5.35% APY
AM Best Rating: A+ (Superior)
Minimum premium: $10,000
Midland National carries an AM Best A+ (Superior) rating — the highest tier available and shared by fewer than 10% of life insurers. For retirees allocating $500,000+ to a single fixed annuity contract, or anyone extending to a 10-year term, Midland National's insurer strength is worth the 20–30 basis point rate concession vs. market leaders. Midland's Guarantee Series MYGAs offer clean terms with 10% free withdrawals and strong rider options for income conversion at maturity.
Retirees allocating large sums ($250K+) where insurer financial strength is the primary risk concern, or those extending to 10-year terms where company longevity matters most. The rate tradeoff is acceptable when the allocation is material.
Best for: Retirees who value straightforward contracts without complexity
5-year rate: ~5.20% APY
7-year rate: ~5.15% APY
AM Best Rating: A+ (Superior)
Minimum premium: $10,000
North American Company (part of Sammons Financial) combines an A+ AM Best rating with unusually transparent product terms. Their Guarantee Choice MYGA series states the guaranteed rate clearly, with no participation rate complexity, no cap adjustments, and no moving parts — what you see is what you earn for the full term. For retirees skeptical of annuity complexity (justified skepticism in many cases), North American's simplicity is a genuine selling point. Rates are competitive without being market leaders.
Retirees who've been burned by complex annuity products before and want a guaranteed rate with no asterisks. The simplicity premium (20–30 basis points in rate) is worth it for the peace of mind.
Best for: Retirees who want guaranteed rates but maximum access to funds
5-year rate: ~5.10% APY
7-year rate: ~5.05% APY
AM Best Rating: A- (Excellent)
Minimum premium: $10,000
American Equity's fixed annuity products stand out for rider flexibility and liquidity access. Their free withdrawal provisions are among the most generous in the market — 10% annually plus return of premium provisions on select products. For retirees who want the tax-deferred guaranteed rate but are nervous about locking up assets for 5+ years, American Equity's liquidity structure reduces the commitment anxiety. Rates are competitive without being top-tier.
Retirees who want guaranteed rates but are not comfortable with a full lockup — the liquidity provisions make American Equity worth the modest rate concession for more liquid-sensitive households.
Best for: Retirees allocating $100,000+ who want institutional-grade backing
5-year rate: ~5.15% APY
7-year rate: ~5.10% APY
AM Best Rating: A (Excellent)
Minimum premium: $25,000
Global Atlantic (backed by KKR since 2021) offers AM Best A rated products with competitive rates and strong institutional backing from one of the largest alternative asset managers globally. Their ForeAccumulation MYGA series targets larger premium allocations with the $25,000 minimum. For retirees allocating significant retirement assets, the KKR backing adds a capital buffer depth not present at smaller regional insurers.
Retirees with $100,000+ to allocate who want institutional-grade insurer quality alongside competitive rates. For smaller allocations, F&G or Nassau offers more value.
| Provider | 3-Yr Rate | 5-Yr Rate | 7-Yr Rate | AM Best | Min Premium |
|---|---|---|---|---|---|
| Nassau Life | ~5.25% | ~5.55% | ~5.40% | A- | $10,000 |
| F&G | ~5.10% | ~5.35% | ~5.25% | A | $10,000 |
| Midland National | ~4.95% | ~5.15% | ~5.20% | A+ | $10,000 |
| North American | ~4.90% | ~5.20% | ~5.15% | A+ | $10,000 |
| American Equity | ~4.85% | ~5.10% | ~5.05% | A- | $10,000 |
| Global Atlantic | ~5.00% | ~5.15% | ~5.10% | A | $25,000 |
Rates are representative of well-qualified single-premium deposits as of Q2 2026. Actual rates vary by state, premium amount, and distribution channel. Rates change frequently — verify current rates at time of application.
Fixed annuity rates are primarily driven by the 10-year Treasury yield. When Treasury rates rise, insurers can invest new premium at higher yields and pass those gains to policyholders through higher guaranteed rates. When Treasury rates fall, new fixed annuity rates follow. In the current environment (Q2 2026), rates remain elevated relative to 2020–2022 levels but have pulled back from 2023–2024 peaks.
The practical implication: if you're considering a fixed annuity and believe rates will fall, locking in now preserves today's rate for your full term. If you believe rates will rise, laddering across 3- and 5-year terms preserves optionality.
For a deeper comparison of how fixed annuities stack up against fixed index annuities, see our guide on how fixed index annuities work.
This guide draws on Wink Intelligence MYGA rate survey data (Q2 2026), AM Best financial strength ratings as published, and individual insurer product disclosure documents. Rates shown represent leading rates for single-premium deposits of $100,000 in available states; smaller premiums may receive lower rates. All rates are subject to change. Last updated: June 2026. We update this guide monthly as rates change.
Top MYGA rates for 5-year terms in Q2 2026 range from approximately 5.10%–5.55% among leading insurers. Nassau Life leads on rate; F&G and Midland National offer the best combination of rate and financial strength.
A Multi-Year Guaranteed Annuity (MYGA) is a fixed annuity that guarantees a set interest rate for a defined term (3, 5, 7, or 10 years). It functions like a tax-deferred CD — your principal is protected, your rate is guaranteed, and growth accumulates tax-deferred until withdrawal.
Fixed annuities are backed by the financial strength of the issuing insurance company — not FDIC-insured. AM Best A or A+ rated insurers have extremely low historical default rates. State guaranty associations provide additional protection typically up to $100,000–$300,000 per insurer (varies by state).
Top 5-year MYGA rates (5.35%–5.55%) currently exceed top 5-year CD rates (4.50%–5.00%) by 35–55 basis points. MYGAs also offer tax deferral — a meaningful advantage for non-retirement accounts. The tradeoff: less liquidity and no FDIC backing.
At maturity, most MYGAs automatically roll into a new rate (often lower). You typically have a 30-day window to surrender without penalty and move funds. Always calendar your maturity date and shop new rates 60–90 days ahead.
Most financial planners recommend limiting any single insurer allocation to $250,000 or less (aligned with typical state guaranty association coverage). For larger allocations, consider splitting between two or more A-rated insurers.
Yes, but with limits. Most MYGAs allow 10% annual free withdrawals without penalty. Full surrenders during the term incur surrender charges (typically 7–10% in year 1, declining to 0% by maturity). Nursing home and terminal illness waivers exempt qualified withdrawals from these charges.
At minimum, A- (Excellent). Prefer A or A+ for terms of 7 years or more, or allocations above $100,000. Avoid B-rated or unrated insurers regardless of the rate offered.
This content is for informational and educational purposes only and does not constitute financial, tax, or investment advice. Fixed annuity rates and availability change frequently. All rates shown are representative figures as of Q2 2026 and may vary by state, premium size, and insurer at time of application. Fixed annuities are insurance products — they are not FDIC insured and are subject to the financial strength of the issuing insurer. Consult a licensed insurance professional before purchasing any annuity product. Retirement Rescue does not sell annuities directly.
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