Fixed-Rate Annuity Interest Rates Jump
ACCESS Newswire
25 May 2022, 19:55 GMT+10
Earn Up to 4.30% for a Six-Year Term, 4.00% for Three Years
MEDFORD, OR / ACCESSWIRE / May 25, 2022 / Rates on fixed-rate annuities have shot up. Now you can earn up to 4.00% on a three-year multi-year guarantee annuity (MYGA) with a minimum $1,000 deposit, and up to 4.17% on a five-year fixed-rate annuity.
The top six-year annuity ($20,000 minimum) pays 4.30%, according to AnnuityAdvantage.
'These are the best guaranteed interest rates we've seen in years, and our clients are taking full advantage while they last,' said AnnuityAdvantage CEO Ken Nuss.
Underwritten by insurance companies, fixed-rate annuities act much like bank certificates of deposit, with the added advantage of tax deferral.
Fixed-rate annuities are not FDIC-insured but are guaranteed by the issuing insurer. State guaranty associations are required by state law to cover fixed annuity owners in the unlikely event the insurer fails. Coverage limits vary by state.
AnnuityAdvantage Website Lets Everyone Compare Annuity Rates
A free annuity comparison service with interest rates from dozens of insurers is at AnnuityAdvantage.
Or you may call (800) 239-0356. One of the firm's annuity experts can discuss the pros and cons of fixed-rate and other types of annuities and what might be best for you. Annuities have many benefits but are not appropriate for everyone.
Never any sales pressure--always sound advice and access to the most competitive annuities on the market. Website: https://www.annuityadvantage.com/
Media Contact: Henry Stimpson, [email protected]
SOURCE: AnnuityAdvantage
View source version on accesswire.com:
https://www.accesswire.com/702177/Fixed-Rate-Annuity-Interest-Rates-Jump
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