How To Find The Best MYGA Fixed Rates

The Annuity Man

Multi-Year Guarantee Annuities (aka: MYGAs) are the Rodney Dangerfield of the annuity world.  They are boring.  They have no annual fees or moving parts.  They are easy to understand.  They are 100% principal protected.  They have a contractually guaranteed annual interest rate for a specific period of time that you choose.  In a non-IRA (non-qualified account), the interest grows tax deferred.  In other words, MYGAs work and they are a pro-consumer product.

MYGAs function like a CD (Certificate of Deposit).  The are only a couple of things that separate the two.  MYGAs used in a non-IRA (non-qualified) account grow tax deferred.  With CDs in a non-IRA (non-qualified) account, you have to pay taxes on that earned interest every year.  The other primary difference is how the money is insured and backed up.

Multi-Year Guarantee Annuities (MYGAs) are regulated and back at the state level by a State Guaranty Fund.  Each state has different dollar amounts that are insured, and different rules for coverage.  Certificates of Deposit (CDs) are backed at the federal level by FDIC (Federal Deposit Insurance Corporation).  FDIC is superior coverage when compared to State Guaranty Funds, in my opinion.

MYGAs should be shopped with all carriers to find the highest yield available for the specific duration you are looking to lock in.

Contact Stan The Annuity Man for the best and highest MYGA fixed rates in the country, and for your specific state of residence.  You can also receive Stan's 6 Annuity Owner's Manuals for free an under no obligation.

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