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MYGA

Multi-Year Guarantee Annuities
Multi-Year Guarantee Annuities (MYGAs) are also called fixed-rate annuities and are a specific annuity product type that functions similarly to a CD (Certificate of Deposit). Both MYGAs and CDs contractually guarantee an annual interest rate for a specified period, have no annual fees and are fully principal protected.
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Contractually guaranteed annual interest rate.
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Lock in periods can be short term or long term.
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Tax-deferred growth in non-IRA accounts.
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Rates are typically higher than CDs.
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Interest compounds tax-deferred in a non-IRA account.
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No fees, moving parts, or market attachments.
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Can be laddered like CDs and Bonds.
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Full principal protection.