The Best Fixed Annuities

Best Overall Fixed Annuity: MassMutual Stable Voyage

Our Take

MassMutual’s Stable Voyage takes the top spot in our roundup of the best fixed annuity products. The guaranteed rates and options for lifetime income Stable Voyage offers make it ideal for conservative investors who want extra security in their retirement savings portfolio. 

Stable Voyage stands out for its surrender charges, which are less harsh than many other fixed annuities. With charges maxing out at 7% as opposed to a more typical 9% or 10%, Stable Voyage could be a good fit for investors who are concerned about the consequences of having to withdraw their funds early.

Best Fixed Annuity for Long-Term Investors: Lincoln MYGuarantee℠ Plus

Our Take

Lincoln’s MYGuarantee℠ Plus is best suited to those who want to protect and grow their retirement savings over a long period of time. The annuity earns a guaranteed rate for five, seven or ten years. After the initial guarantee period, owners can renew the contract at a new rate each subsequent year.

The MYGuarantee℠ Plus offers many of the standard features of a good fixed annuity, including principal protection, surrender charge waivers for terminal illness or confinement to a nursing home and penalty-free withdrawals of up to 10% of the contract value each year.

Best Fixed Annuity for Beginners: F&G Secure MYGA

Our Take

F&G’s Secure MYGA is a somewhat simpler product that might be best suited for those who haven’t purchased a fixed annuity before. You can choose from surrender periods of three, five or seven years, and the annuity allows 10% penalty-free withdrawals.

There are three versions of the Secure MYGA. The first is a standard MVA version of the product, which applies a market value adjustment (MVA) to any withdrawals that trigger a surrender charge.

F&G also offers a non-MVA version of the Secure MYGA, for customers who don’t want to deal with an MVA in the event of early withdrawal. Customers who want even more protection if they decide to withdraw their annuity early can select the ROP Secure MYGA, which guarantees the return of at least the original premium if the contract is surrendered during the initial guarantee period, even if the premium is higher than the contract’s surrender value.

The non-MVA and ROP offerings of the Secure MYGA make it a strong candidate for someone who is just dipping their toes into the world of fixed annuities and wants to know that they’re protected if they need to remove their money before the surrender period is over.

Best Fixed Annuity for High Net Worth Individuals: Nationwide Secure Growth

Our Take

If you’re looking to place more than $100,000 in a fixed annuity, Nationwide offers an additional incentive to choose their Secure Growth annuity. Premiums of $100,000 or more receive an additional interest rate on top of the base rate.

Besides the attractive bonus interest rate, Secure Growth has other benefits including an optional return of premium rider and guarantee periods of one, three, five or seven years. However, the annuity’s surrender periods are only five years or seven years, even if you choose a one- or three-year rate guarantee.