Multi- Year Guarantee Annuity (MYGA)


A multi-year guaranteed annuity (MYGA) is a fixed annuity with a guaranteed interest rate.  This interest rate in guaranteed to stay the same for the full length of time that the surrender charge lasts.

For example, a five-year MYGA paying 3% interest guarantees that you will earn a 3% interest each year for five years, and, at the end of those five years, your money is available for you to make another investment.

The interestearned on your MYGA is allowed to grow tax-deferred and is only taxable upon withdrawal. This is a huge benefit as it allows your funds to compound exponentially over time. On top of that, your contract may allow you to withdraw part of your principal annually (sometimes up to 10%) without a surrender charge. This provides penalty-free liquidity in case you need the funds for a planned purpose or an emergency.

5 Big Benefits

  • No fees
  • Safety of principal
  • Set interest rate earned each year
  • Tax Deferred
  • Most companies allow a yearly 10% free withdrawal

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