Multi-Year Guarantee Annuities (MYGAs) are the annuity industry's version of a CD (Certificate of Deposit). You can't say that you "Hate All Annuities," and then say you live CDs. They both work the same. Both contractually guarantee an annual fixed interest rate for a specific period of time you choose. Both have surrender charges. Both have no moving parts and no annual fees.
The primary difference between MYGAs and CDs is how the interest is taxed in a non-IRA (non-qualified) account. In that type of account, the interest earned with MYGAs grows tax-deferred. With CDs, that interest is taxed annually. That doesn't make MYGAs better than CDs, but does make MYGAs unique.
Shopping for the best MYGA fixed rates involves finding a live feed that shops all carriers for every duration and for each state. MYGAs products offerings are approved at the state level, so make sure that annuity calculator/live feed filters both duration and state.
If you are shopping for CDs, you need to shop for them on a national basis. Same rule applies to MYGAs. Remember that annuities, regardless of type, are commodity products and rates change often and without notice. To lock a MYGA rate in, you have to submit your MYGA application to the carrier. No exceptions.
Contact Stan The Annuity Man to see a live feed of the best MYGA fixed rates for your specific state of residence. You can also get the best and highest contractually guaranteee quotes on all annuity types using Stan's proprietary annuity calculators, and receive Stan's 6 Annuity Owner's Manuals for free and under no obligation.