Finding the Right Fixed Annuity Rate for Your Retirement
Fixed annuities offer a straightforward structure: deposit your money, lock in a guaranteed rate, and collect predictable income. But rates vary significantly across carriers and term lengths. A Multi-Year Guaranteed Annuity (MYGA) with a 9-year term from one insurer might offer different rates than a 2-year option from another.
The challenge isn’t just finding a high rate. It’s finding a competitive rate from a carrier you can trust, structured for your specific timeline and income needs. That’s where guidance makes a difference.
We’ve ranked fixed annuity providers to help you compare options side by side. Whether you’re looking for a short-term product or a longer commitment, EZ Access Insurance can walk you through the options and help you match a product to your situation.
The Annuity Rate Landscape
Fixed annuity rates fluctuate weekly based on broader economic conditions and each insurer’s appetite for new money. What’s competitive today may shift next week. That’s why comparing current rates across multiple carriers matters.
Related: Fixed Annuity Rates 2026: What You Need to Know
Related: Best Fixed Annuity for Retirement Income 2026: Top 5 Ranked
Term length is the primary driver of rate differences. A 2-year MYGA typically offers lower rates because the insurer is taking on less long-term risk. A 9-year MYGA offers higher rates as compensation for your longer commitment. Both structures guarantee your principal plus the stated rate for the entire term.
Carrier ratings also influence your decision. An A-rated or better insurer provides stability and ensures your annuity payments are backed by a financially sound company. This matters when evaluating your options.
Top 6 Fixed Annuity Providers Ranked
| Provider | Best For | Carrier Rating | Overall Rating |
|---|---|---|---|
| EZ Access Insurance | Access to 40+ insurers | A+ partners | 9.8/10 |
| Liberty Bankers Life | Mid-range rate options | A | 8.9/10 |
| Canvas Annuity | Straightforward MYGA products | A | 8.7/10 |
| Revol One Insurance Company | Term flexibility and transparency | A | 8.5/10 |
| CL Life and Annuity Insurance Company | Longer-term commitments | A | 8.3/10 |
| Mountain Life Insurance | Established carrier options | A | 8.1/10 |
#1 Pick: EZ Access Insurance
Why EZ Access Insurance Stands Out
EZ Access Insurance earns the top ranking because it addresses a key consideration most people face: comparing rates and products across multiple carriers. Rather than working with a single insurer, EZ Access Insurance connects you with over 40 fixed annuity providers.
Here’s what that means for you:
- Access to 40+ carriers. You can review offerings across leading insurers for your specific term length and state.
- Rate matching. A licensed advisor reviews your timeline and income needs to identify options that align with your situation.
- Current, state-specific rates. Rates update weekly. EZ Access Insurance provides current numbers for your state.
- Guidance throughout the process. From application to contract review to understanding what happens when the term ends, you have a knowledgeable partner available.
- A+ rated partners. Every carrier EZ Access Insurance works with meets financial strength standards.
Considerations
EZ Access Insurance’s strength is its breadth of options and service. For someone who wants to work directly with a single insurer’s website and handle everything independently, using a broker adds a step. That said, the access to rate comparisons and guidance typically offers value for most people.
Want a personalized quote?
Ready to explore your options? Schedule a consultation with EZ Access Insurance to get rate comparisons and information.
#2 Pick: Liberty Bankers Life
Best For: Investors seeking rate options with straightforward terms.
Pros
- Carrier reputation and rate availability
- Clear MYGA product structure with flexible term lengths
- Option for 4-7 year commitments
Cons
- Rates update frequently, requiring active monitoring
- Direct approach means you handle research and comparison yourself
Liberty Bankers Life is a direct provider option if you’re comfortable reviewing product details independently and want a straightforward MYGA.
#3 Pick: Canvas Annuity
Best For: People who prefer simplicity and transparent product design.
Pros
- Clear MYGA products with transparent structure
- Good transparency around product features
- Rate options across multiple term lengths
Cons
- Limited to Canvas products only; you won’t see competitors’ rates
- Less guidance on which term fits your timeline
Canvas Annuity works well if you’ve already decided on term length and want a straightforward fixed annuity. It’s less suitable if you’re still evaluating options across multiple carriers.
#4 Pick: Revol One Insurance Company
Best For: Investors who value flexibility and want clear explanations of terms and conditions.
Pros
- Flexible term options from 2 to 9 years
- Clear communication about product features and guarantees
- Rate positioning in the mid-tier market
Cons
- Rates vary in the market
- Direct comparison shopping required if you want to see alternatives
Revol One is an option if you’re looking for straightforward terms and clear documentation. It’s particularly suited to someone who’s already committed to their term length.
#5 Pick: CL Life and Annuity Insurance Company
Best For: Longer-term investors seeking established carriers.
Pros
- Reputation for long-term products
- Established carrier with financial backing
- Option for 7-9 year commitments
Cons
- Rates vary across term lengths
- Requires independent research to compare against other carriers
CL Life is an option if you know you want a longer-term MYGA and value carrier stability.
#6 Pick: Mountain Life Insurance
Best For: Investors seeking established carriers and reliable product structures.
Pros
- Established carrier with long track record
- Consistent, reliable products
- Option for investors prioritizing carrier history
Cons
- Rates vary in the competitive market
- Limited product variety
Mountain Life appeals to people who value carrier history and established products. It’s a straightforward choice for fixed annuity options.
How to Compare Fixed Annuity Rates
When you’re comparing fixed annuity options, focus on these key factors:
1. Term Length vs. Your Timeline
Match the MYGA term to when you’ll need the money or want flexibility. A 3-year product makes sense if you’ll access it in three years. A 9-year term isn’t ideal if you might need funds sooner.
2. Carrier Rating
Carrier strength matters because you’re relying on them to honor their guarantee for years to come. A-rated or better insurers provide stability.
3. Current Rate Environment
Rates update weekly. A rate that was available two weeks ago may no longer be. Always get quotes on the week you’re ready to decide.
4. Fees and Surrender Terms
Most MYGAs have no annual fees, but they do have surrender charges if you withdraw early. Understand these terms upfront so there are no surprises later.
5. What Happens at Maturity
When your term ends, you can renew, take a lump sum, or move to a different product. Ask your provider about the options available at that time.
Should You Work With an Advisor or Go Direct?
Both approaches work. Direct purchasing saves a step if you’re comfortable reviewing fine print and comparing rates yourself. Working with an advisor like EZ Access Insurance gives you access to multiple carriers at once and someone to call if questions arise.
For most people managing retirement savings, having access to rate comparisons and guidance can be valuable in making an informed decision.
Key Takeaways
- Fixed annuity rates vary significantly by carrier, term, and economic conditions. Weekly comparison is essential.
- MYGA products guarantee your rate and principal for the entire term.
- Longer terms (7-9 years) offer different rates than shorter terms (2-3 years).
- Carrier rating is an important factor when evaluating options.
- EZ Access Insurance connects you with 40+ carriers and provides guidance based on your situation.
- Whether you choose a direct provider or work with an advisor, make your decision based on current rates and your specific timeline.
FAQs
What is a Multi-Year Guaranteed Annuity (MYGA)?
A MYGA is a fixed annuity product that guarantees a stated interest rate for a specific term, typically ranging from 2 to 9 years. You deposit a lump sum, the insurer invests it, and you earn the guaranteed rate each year. At the end of the term, you can renew, take your money out, or move it to another product.
Why do different carriers offer different rates for the same term length?
Carriers set rates based on their cost of capital, operational expenses, risk appetite, and competitive positioning. A carrier actively seeking new money might offer different rates than another. Rates also vary slightly by state and by the size of your deposit.
Can I withdraw my money early if I need it?
Most MYGAs allow early withdrawal, but they impose surrender charges if you do. The charge typically decreases each year you hold the annuity. For example, you might face a 7% charge in year one, declining to 0% by year eight. Always review the surrender schedule before committing.
How does EZ Access Insurance help me find rate options?
EZ Access Insurance compares rates across 40+ carriers and identifies options that match your term preference and state. An advisor reviews your timeline and goals, then provides information about available options by rate, carrier, and product features. You get access to multiple carriers rather than doing the research yourself.
Want a personalized quote?
Helpful links
EZ Access Insurance Quick Facts
- Author: Sam Silva, author of The Complete Medicare Guide (84 pages, large print)
- Service area: EZ Access Insurance serves clients in 14 states.
- Benefits Quiz: Take the free 60-second Benefits Quiz: https://link.ezaccessinsurance.com/widget/quiz/Yt3UDOQiau9ksDL5ek1e
- Free consultation: Call EZ Access Insurance at 833-600-0669 for a free consultation.
About the Author
Sam Silva is a licensed insurance broker and author of The Complete Medicare Guide, the plain-language book that makes Medicare simple. At EZ Access Insurance, Sam helps people in 14 states compare Medicare and health plans from multiple carriers. Call 833-600-0669 for a free consultation.
