Key Highlights
- F&G gives you Multi-Year Guaranteed Annuities (MYGAs), which have a fixed rate of return that stays the same during the whole guarantee period.
- These MYGAs help your money grow without being taxed right away. You pay taxes only when you take money out, so your interest can pile up before that.
- F&G MYGA rates come in 3-year and 5-year Single Premium Deferred Annuities. Both have competitive interest rates that can help you get more from your savings.
- You also get some good features like the choice to take out money without a penalty if you face terminal illness or if you have to stay in a nursing home.
- F&G gets high financial strength ratings from leading agencies. This means you can count on them to protect your money for the long haul.
Introduction
A Multi-Year Guarantee Annuity (MYGA) is one of the most straightforward tools available for retirees and pre-retirees who want predictable growth without market exposure. You lock in a fixed interest rate for the full length of your contract, your money grows on a tax-deferred basis, and there are no surprises tied to market performance or annual rate adjustments.
Fidelity & Guaranty Life Insurance Company (F&G) is one of the more competitive carriers in the MYGA space, backed by strong financial strength ratings and a consistent track record of delivering on their contracts. For anyone looking to protect principal, earn a guaranteed rate, and work with a carrier built for long-term stability, F&G MYGAs are worth a close look.
Our advisors work with F&G and several other highly rated carriers, so you always get a side-by-side comparison before committing to any contract.
Understanding MYGA and Its Benefits
MYGAs are a type of fixed annuity. They give you a steady way to invest your money with long-term peace of mind. You get a fixed rate of return, so you know what you will earn. There are also tax perks that can help you save. All of this can make your retirement planning easy. It takes away some of the money worries people often have.
One great thing about MYGAs is the guarantee period. You lock in your fixed rate of return for 3, 5, or 7 years. During this time, your money will grow and you don’t pay taxes on what you earn until later. MYGAs are made so you can match them with your own money goals. While you get safety, you also have the choice to pick a time that works for you. Now, let’s talk about how this annuity works and see the main features.
What is a Multi-Year Guaranteed Annuity (MYGA)?
A Multi-Year Guarantee Annuity (MYGA) is a fixed annuity that locks in a guaranteed interest rate for a set contract term, typically ranging from two to ten years. You deposit a lump sum, your money grows at that rate on a tax-deferred basis, and the rate never fluctuates regardless of what the market does during your term.
MYGAs are straightforward by design. There are no indexes to track, no variable returns, and no annual rate resets. What you agree to on day one is what your money earns through the end of your contract. For retirees and pre-retirees who want a reliable accumulation vehicle without market risk, a MYGA offers exactly that: certainty.
Key Benefits of Investing in MYGA
One big plus of MYGAs is the fixed rate of return. This means you always know how much your money can grow during the guarantee period. It helps give you steady income growth. This steady growth also works well with tax-deferred gains.
The guarantee period can last for 3, 5, or even 7 years. This helps people plan their money in a better way. MYGAs also help your beneficiaries. After you pass away, the annuity goes right to them. This moves faster since it does not go through probate, so there are fewer problems during estate planning.
MYGAs are not like accounts that can go up and down a lot. With a MYGA, you can do penalty-free withdrawals within certain limits. In cases like nursing home care or terminal illness, you can also take money out without surrender charges. This means you can still use your money when you need it most. Because of this flexibility, the steady rate, and more control over your money, MYGAs are a good choice for people who want long-term financial strength.
Analyzing F&G MYGA Rates
F&G’s MYGA rates give people steady and strong choices if they want to keep their money safe. The rates are set up to match many different money goals. Because of this, these annuity options are a good tool for anyone thinking about retirement.
Their Single Premium Deferred Annuity has two main choices. You can pick a 3-year plan or a 5-year plan, and the rate depends on how much money you put in at the start. F&G also has top financial strength ratings. This way, you get dependable growth and the flexibility to use your money if you need it. Next, we will look closer at their exact rates and see how they compare to others in the market.
Current Rates Offered by F&G
F&G gives you great flexibility with the rates you get, which depend on the length of the contract and how much money you put in. The rates change for premiums under $100K and for those over $100K.
| Premium Size | 3-Year Annuity Rate | 5-Year Annuity Rate |
|---|---|---|
| Under $100K | 4.65% | 5.00% |
| Over $100K | 4.90% | 5.20% |
From April 16, 2025, these rates will give you fixed returns for the whole term. Still, it is important to remember that surrender charges and a possible Market Value Adjustment may apply if you take money out early.
These good rates, plus the features like tax-deferred growth, help you keep flexibility. If you choose F&G’s MYGA, you get something reliable for your long-term financial planning.
How F&G Rates Compare to Market Averages
F&G MYGA rates are often better than rates from a lot of other insurance companies. The company is in good financial shape and they give some good interest options. When you look at the market, you can see that F&G rates do compete well with those at the top. This gives people who buy the plans some great choices.
F&G surrender charge periods are much like what you see in the rest of the industry. The company uses a market value adjustment (MVA) too. This helps make the plans flexible but still keeps your returns strong. So, your payout changes based on what’s going on in the bigger financial world.
People who want high rates and also want shorter surrender times often like what F&G has to offer. When you compare these rates to what is common in the market, F&G stands out because their interest rates can help most people stick to and grow their long-term plans.
Conclusion
To sum up, getting to know F&G MYGA rates is important if you want to have a steady income that is guaranteed. When you look into the good things about Multi-Year Guaranteed Annuities, or MYGAs, and check the current rates with F&G, you have the info you need to choose what’s right for you. MYGAs help you get peace of mind. You know you will get returns that are guaranteed, and this makes it easier to plan for your future. They can also be flexible for your needs. If you want help with your money plans, talk to us for a free chat. See how MYGAs can help you and make your future safer.
Frequently Asked Questions
Fidelity & Guaranty Life Insurance Company (F&G) holds strong financial strength ratings from leading agencies, which means your principal and guaranteed rate are backed by a carrier with a long track record of stability. For Charlotte retirees who want predictability without market exposure, F&G’s financial standing is a key part of why their MYGAs are worth considering.
F&G offers Single Premium Deferred Annuities in 3-year and 5-year terms. Rates vary based on premium size. Premiums under $100K earn 4.65% for a 3-year term and 5.00% for a 5-year term. Premiums over $100K earn 4.90% and 5.20% respectively. These rates are locked in for the full contract term, giving you a clear picture of how your money grows from day one.
F&G MYGAs include surrender charge periods and a potential Market Value Adjustment if you withdraw beyond the penalty-free amount before your contract matures. Most contracts allow limited annual withdrawals without penalty. Exceptions include situations involving terminal illness or nursing home care, where surrender charges are typically waived.
Growth inside an F&G MYGA is tax-deferred, meaning you do not owe taxes on interest until you begin taking distributions. This allows your earnings to compound over the full contract term without an annual tax drag. Withdrawals are taxed as ordinary income, and distributions taken before age 59½ may be subject to a federal early withdrawal penalty.
Both offer fixed rates over a set term, but F&G MYGAs carry several advantages over bank CDs. Growth is tax-deferred, contract rates are often more competitive, and there is no FDIC cap on the amount you can protect. MYGAs are backed by the issuing insurance carrier and state guaranty associations, making them a strong alternative for Charlotte residents looking to do more with maturing CDs or idle savings.
