What is a Multi-Year Guaranteed Annuity?

What is a MYGA?

Simply put, a multi-year guaranteed annuity, or MYGA, is a type of fixed annuity that offers a predetermined guaranteed fixed interest rate over a period of time. When looking towards your retirement and finances, a MYGA can be a safe way to invest and grow your money in a straightforward way. A MYGA can help to take control of your financial future.

What can a MYGA do for me?

The concept of a MYGA is traditionally used to supplement your finances in retirement. This is considered a safer way to invest your money than other options that are determined by the market. When purchasing a MYGA, you are guaranteed a competitive interest rate for the duration of the guaranteed period of your annuity. Americo offers guarantee periods from two to seven years depending on your financial needs.

Is a MYGA right for me?

In a time where the future of Social Security is uncertain and fewer companies are offering pensions, an annuity can assist in keeping your retirement plans on track. A MYGA is usually best-suited for people who are around retirement age and looking to supplement their retirement income. If you are nearing retirement and have the financial resources to invest your money for 2 to 7 years, a fixed rate MYGA could be a great resource for you.

Americo Financial Life and Annuity Insurance Company offers MYGA options to assist in meeting your financial goals. Discover which fixed rate annuity can work for your future and find our current interest rates to help you determine what type of term you want to work with. Connect with an Americo agent to find out more today.