Multi-Year Guarantee Annuity
A MYGA provides a fixed, guaranteed interest rate, predictable growth and protection of principal.
MYGAs vs. CDs
A Multi-Year Guaranteed Annuity (MYGA) and a Certificate of Deposit (CD) are both conservative savings options, but they differ in structure and benefits. CDs are issued by banks and are typically FDIC-insured up to limits, offering fixed interest for shorter terms, while MYGAs are insurance products issued by highly rated insurance companies with guaranteed rates often available for longer periods. MYGAs may offer higher rates, tax-deferred growth, and flexible income options at the end of the term, whereas CDs provide simpler liquidity but taxable interest each year.
Lock in Higher Rates with a MYGA
MYGAs offer higher guaranteed interest rates than CDs—especially for longer terms—because they’re designed as long-term insurance products, making them an attractive option for savers seeking stronger returns with principal protection, though they lack FDIC insurance and may have different liquidity features compared to CDs.
