Best 7-Year MYGA 2026: Top Long-Hold Yields

Quick take: Athene MaxRate paid 6.15% on the 7-year at $100,000+ (most states) on its rate card effective October 14, 2026, only 0.10% more than its 5-year. The 7-year is the middle ground between a 5-year and a 10-year lock; check whether the extra rate is worth two more years.

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CD vs MYGA, after tax

What $100,000 earns in 7 years: CD vs MYGA, after tax

AmountYears3 years5 years7 yearsCD rate (%)Federal bracket10%12%22%24%32%35%37%State tax (%)

Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 6.00%, the best A-rated rate we track as of October 13, 2026: Aspida WealthLock 7-year (AM Best A-, reaffirmed 9/18/2026), $100,000 and up, effective October 1, 2026 (Aspida rate sheet; not sold in New York).

CD, interest taxed every year	$130,710
MYGA, tax-deferred, before tax	$150,363
MYGA after paying tax on all the interest at withdrawal	$139,283
Tax deferral alone adds about	$1,548
MYGA ahead of the CD, after tax	$8,573

Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge.

In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.

Ratings (independent third-party)

Rating Agency	Grade
AM Best	Various
S&P	Various
Moody's	Various
COMDEX (composite, 0-100)	Various

I’m independently licensed. I base these reviews on public rate sheets, prospectuses, public carrier rate sheets and carrier filings.

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Why 7-year MYGAs are underrated

Most buyers pick a 5-year (short) or a 10-year (long). The 7-year gets overlooked, even though it often strikes the best balance: a slightly higher rate than the 5-year, with less lockup than the 10-year.

7-year MYGAs as of June 2026 (not current)

Carrier	Product	AM Best	Rate	Free Withdrawal
Wichita National	Security 7	B+	6.10%	0%/0%
Revol One	DirectGrowth 7	B++	6.00%	0%/0%
Farmers Life	Safeguard 7	B++	5.95%	0%/0%
Revol One	DirectGrowth 7 Free Surrender	B++	5.90%	Int/Int
Aspida	WealthLock 7	A-	5.75%	10%/10%
Delaware Life	Pinnacle 7	A-	5.65%	10%/10%
Reliance Standard	Eleos 7	A+	5.75%	10%/10%
Penn Mutual	Diversified 7	A+	5.65%	10%/10%

When 7-year wins

• You're 55 to 65 and want the rate locked until 62 to 72
• You want a better rate than a 5-year and more liquidity than a 10-year
• Your retirement timeline lines up with a 7-year exit

When to skip 7-year

• You’re under 55: the term is too short to get much out of the tax deferral
• You’re over 75: a 7-year term runs to 82 or later, which is a long lock
• You need the money sooner: look at a 3- or 5-year instead

Call me at 213-414-2808 and I’ll compare 7-year MYGA quotes for you.

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About Hans Goldstein: I’m an independent retirement income specialist, and I review products from 30+ carriers. CA Life License #4273294. NPN #20602398. Phone: 213-414-2808. Email: [email protected].

Goldstein Complexity Index

Every annuity I review gets a complexity score from 0 to 100. Higher means harder to understand. Complexity is where buyers get hurt: riders they didn't know they were paying for, surrender charges that surprise them, and income "benefit bases" they took for cash. SPIAs and MYGAs score low. Products that stack a bonus, an income rider, an MVA and several crediting options score high.

This product's score: 8/100, Grade A+ (Transparent)

Easy to understand, with few moving parts. Most buyers could explain it to a friend after one read of the contract.

Score breakdown

Dimension	Score (1-10)	What this measures
Riders	1/10	How many riders, optional or built in (income, death benefit, LTC). Each one adds cost and one more thing to understand.
Crediting strategies	1/10	How many index options (cap, spread, participation rate, step rate, volatility-controlled indices). More choices are harder to follow.
Surrender complexity	1/10	Length of the surrender period, plus any MVA and bonus recapture. The longer and more layered it is, the harder it is to know what leaving early costs.
Benefit-base separation	1/10	Whether there is a separate income base ("PIV") that is not cash but looks like it. This causes more buyer confusion than anything else.
Bonus structure	1/10	A premium bonus with a recapture schedule. The bonus is real, but you can lose part of it if you leave early.

How to read this

• A+/A (0-40): Easy to understand. A pure accumulation FIA, a MYGA or a SPIA. Little room for mis-selling.
• B (41-60): Read the contract carefully and get a second opinion before signing. Income riders cause most of the confusion.
• C (61-80): Many owners don't fully understand what they bought. Common mis-sells: a bonus presented as cash, a benefit base presented as account value, surrender charges glossed over.
• D (81-100): Get an independent second opinion before signing. The product may still fit you, but the odds you later say "I didn't know it worked that way" are high.

Why it matters: nobody gets sued for selling a complicated product, but buyers regret them all the time. An annuity that wins your money in year one and confuses you for the next 14 is worse than a simpler one you understood from the start. Simple products are easier to check.

If you are also looking at FIAs: caps can change after year one

The cap you are quoted on a fixed indexed annuity is not locked like a mortgage rate. It covers the first crediting period, usually one year. At each contract anniversary the carrier can reset it anywhere above the contract minimum.

It works much like a high-yield savings rate: the bank can lower that next month, and the carrier can lower your cap next year. The reason is how caps are funded. The carrier puts most of your premium in bonds and uses part of the yield to buy index options.

When bond yields fall, that option budget shrinks and caps get cut. Caps were cut across the industry in the 2010-2021 low-rate years and came back after 2022.

The minimum cap is the only guarantee

Every FIA states a minimum guaranteed cap in the contract. Of the 99 FIAs we found that publish one, 86 let the insurer cut the cap to 1% or less, and some go as low as 0.25%. A few set 2% to 3%, and several insurers publish no number at all (FIA minimum cap data, checked October 4, 2026). Read that number before you sign.

Questions to ask before you buy

1. "What is the minimum guaranteed cap in this contract?"
2. "Can you show me this product's in-force renewal-rate history for the last 5 years?"
3. "What cap are contracts sold in 2020, 2018 and 2015 getting today?"
4. "If the cap drops to the minimum, what would I realistically earn each year?"

If the agent can't answer questions 2 and 3 with documents, you don't have enough information to buy yet.

Annuities in plain terms

An annuity is an insurance contract. You pay a premium, in one lump sum or over time, and get one of three things back:

• Lifetime income (SPIA: pay once, get a check every month for life)
• Tax-deferred growth with downside protection (FIA: index-linked interest with a cap and a 0% floor)
• A fixed rate for a set term (MYGA: works like a CD, with the tax deferred)

The carrier pays for these out of its bond portfolio and, for FIAs, an option budget that buys the index-linked credit.

Every annuity trades liquidity and growth for certainty. A SPIA gives the most certainty (income for life), but you give up access to the principal. An FIA protects the downside but caps the growth. A MYGA locks the rate but ties up the money for the term.

Quick FAQ

Q: Are annuities ever "good investments"?
A: Yes, when used for what they do well: income certainty, downside protection or a locked rate. They go wrong when sold for something else, like a SPIA pitched for "growth."

Q: What's the difference between immediate and deferred annuities?
A: An immediate annuity (SPIA) starts paying within 12 months of purchase. A deferred annuity grows for years before payments begin.

Q: Who regulates annuities?
A: State insurance commissioners. (RILAs are also FINRA-regulated as securities.)

Q: What's the state guaranty fund limit?
A: Usually $250,000 to $300,000 per owner per carrier, depending on the state. Splitting a large purchase across carriers keeps each piece inside the limit.

Q: How do I compare annuities side-by-side?
A: Compare the carrier's ratings (AM Best, S&P, Moody's, Fitch, Weiss, KBRA composite), the Goldstein Complexity Index, the carrier's renewal-rate record, its service, and how the structure fits what you need the money to do.

Q: When should I get a second opinion?
A: Before you sign any annuity over $50,000. An independent review costs nothing and can save you thousands.

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Disclosure

This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.