Many Rochester families have spent decades building retirement savings and now face a common challenge: how do you continue growing your money without taking unnecessary stock market risk?
For retirees and individuals approaching retirement, Multi-Year Guaranteed Annuities (MYGAs) have become an increasingly popular option because they provide guaranteed interest rates, principal protection, and tax-deferred growth.
Unlike investments that fluctuate daily, a MYGA allows you to lock in a fixed rate for a specified number of years, giving you greater certainty about future growth.
What Is a MYGA?
A Multi-Year Guaranteed Annuity is an insurance product that provides a guaranteed interest rate for a specific period, typically ranging from 3 to 10 years.
Many Rochester retirees use MYGAs to complement their overall retirement strategy because they offer:
- Principal protection
- Guaranteed fixed interest rates
- Tax-deferred accumulation
- No direct stock market exposure
- Predictable future values
Current Top 3-Year MYGA Rates
| Company | Product | Rating | Rate |
|---|---|---|---|
| Farmers Life | Safeguard Plus | B++ | 5.65% |
| Axonic | Waypoint | A- | 5.45%* |
| Heartland National | Secure Rate | B++ | 5.40% |
| ELCO Mutual | Guardian Eagle | B++ | 5.15% |
| Oceanview | Harbourview | A | 5.05%* |
Current Top 5-Year MYGA Rates
| Company | Product | Rating | Rate |
|---|---|---|---|
| Farmers Life | Safeguard Plus | B++ | 6.00% |
| Heartland National | Secure Rate | B++ | 5.75% |
| Axonic | Waypoint | A- | 5.70%* |
| ELCO Mutual | Guardian Eagle | B++ | 5.40% |
| Sagicor | Milestone Max | A- | 5.40%* |
Current Top 7-Year MYGA Rates
| Company | Product | Rating | Rate |
|---|---|---|---|
| Farmers Life | Safeguard Plus | B++ | 5.95% |
| Heartland National | Secure Rate | B++ | 5.80% |
| Axonic | Waypoint | A- | 5.50%* |
| Oxford Life | Multi-Select | A | 5.45% |
| Sagicor | Milestone Max | A- | 5.45%* |
Current Top 10-Year MYGA Rates
| Company | Product | Rating | Rate |
|---|---|---|---|
| Farmers Life | Safeguard Plus | B++ | 6.05% |
| Heartland National | Secure Rate | B++ | 5.90% |
| Oceanview | Harbourview | A | 5.65%* |
| Axonic | Waypoint | A- | 5.50%* |
| Royal Neighbors | MYGA | A | 5.50%* |
Why Some Rochester Retirees Prefer MYGAs
Many retirees are searching for alternatives to:
- Low-yield savings accounts
- Traditional CDs
- Excess cash holdings
- Volatile stock investments
A MYGA may help provide greater confidence by locking in a known rate of return for a defined period.
For retirees focused on preservation and predictable growth, that certainty can be valuable.
Serving Western New York Families
Mintco Financial has helped families throughout Western New York for decades. We assist retirees in comparing MYGA rates, understanding surrender schedules, evaluating carrier ratings, and determining how fixed annuities may fit into an overall retirement income strategy.
Compare Rochester NY MYGA Rates
Receive personalized MYGA quotes from multiple insurance companies and compare today’s highest available guaranteed rates.
📞 716-565-1300
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