Annuity companies issuing a fixed annuity offer a minimum guaranteed rate of return specified in the annuity contract. Based on market conditions the annuity company will then set a flat rate (higher than the guaranteed rate) for a period of time, such as a year. There are some fixed annuity contracts (such as CD Type Annuities) available that will lock in a higher fixed rate for a multi-year period. Because a fixed annuities growth is tax deferred the money in an annuity can grow at a much faster rate than a CD, money market account, or even a mutual fund.
The fixed annuities in the table below are a snapshot of the most competitive fixed annuities available in the annuity marketplace today. The table below consists of the highest fixed rate products for each surrender period.
MULIT-YEAR GUARANTEED FIXED ANNUITY RATES as of OCTOBER 11, 2010
COMPANY PERIOD RATES Protective Life Corporation 15 yr 3.80 Request Information Midland National Life 10 yr 3.80 Request Information Midland National Life 9 yr 3.55 Request Information Midland National Life 8 yr 3.55 Request Information Midland National Life 7 yr 3.55 Request Information Midland National Life 6 yr 3.30 Request Information OM Financial (NY) 5 yr 3.20 Request Information Midland National Life 4 yr 2.40 Request Information OM Financial 3 yr 2.33 Request Information Allianz Life 2 yr 1.50 Request Information Allianz Life 1 yr 1.50 Request Information
