Goldstein Scorecard: B (dated October 4, 2026). See how it is graded.
Nassau Simple Annuity MYGA Review: 4- and 6-Year Rates, 5% Free Withdrawal
Written & reviewed by Hans Goldstein, EA, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Facts verified against Nassau’s Simple Annuity product summary (rates effective 10/1/2026), disclosure and financial strength page on October 4, 2026 · Updated
Nassau Simple Annuity is a single-premium MYGA issued by Nassau Life and Annuity Company (Hartford, CT) with a 4-year or 6-year rate lock. Per Nassau’s product summary, rates effective October 1, 2026 are 5.55% for 4 years and 5.80% for 6 years, with a 5% annual free withdrawal from year one, issue ages 18 to 85 and premiums of $10,000 to $2,000,000.
Nassau reports an AM Best rating of B++ (Good), stable, most recent action February 27, 2026.
Correction (October 4, 2026): an earlier version of this page described a single 4-year “Simple Annuity 4” at 5.25% (June 8, 2026) and said there were no other terms. Nassau’s current product summary shows two guarantee periods, 4 and 6 years, at 5.55% and 5.80% effective 10/1/2026. An unsourced agent commission figure and an unverified competitor comparison were removed.
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after 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 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
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.
Nassau Simple Annuity: verified contract facts
| Feature | What Nassau publishes |
|---|---|
| Issuer | Nassau Life and Annuity Company, Hartford, CT (in California: Nassau Life and Annuity Insurance Company); subsidiary of Nassau Financial Group |
| Guarantee periods and rates | 4-year 5.55%; 6-year 5.80% (effective 10/1/2026; same in the CA summary) |
| Issue ages | 18 to 85 |
| Premium | Single premium only; minimum $10,000, maximum $2,000,000 |
| Free withdrawal | Up to 5% a year with no surrender charge or MVA; one RMD per contract year is free after the first calendar year |
| MVA | Yes, positive or negative; no limit on a positive MVA (most states). A negative MVA cannot take surrender value below 87.5% of premium accumulated at the TGV rate (0.15% to 3.0%, set at issue). In CA, MVA is capped at a 0.50% change either way |
| Minimum guaranteed interest rate | 1.00% for future guarantee periods per Nassau’s product page; the summary says it is set at issue and could range from 1% to 3% by state |
| End of term | 30-day window to take any amount free of surrender charge and MVA, renew for the same term, or pick another term; default is automatic renewal for the same or nearest term |
| Waivers | Nursing home and terminal illness (6 months; 12 in CA, 24 in MA) waivers after year 1, issue ages 80 and below; nursing home waiver not in FL or CA. Charges and MVA waived at death or annuitization after year 1 |
| Where sold | Not available in ME or NY. Nassau says the product can be bought online directly from the company or through an agent |
Surrender charge schedule by contract year
| Term | Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Yr 7+ |
|---|---|---|---|---|---|---|---|
| 4-year, most states | 9% | 8% | 7% | 6% | 0% | 0% | 0% |
| 6-year, most states | 9% | 8% | 7% | 6% | 5% | 4% | 0% |
| 4-year, California | 7.8% | 6.9% | 6% | 5.1% | 0% | 0% | 0% |
| 6-year, California | 7.8% | 6.9% | 6% | 5.1% | 4.2% | 3.2% | 0% |
Get an independent read on Nassau Simple MYGA before you sign.
Send your email and I'll send you what this product actually guarantees, what the surrender schedule really costs you, and the two or three carriers paying more for the same guarantee. If it's already a good fit, I'll tell you that.
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Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | B | AM Best FSR B++ (Good), stable, most recent action 2/27/2026 (Nassau financial strength page); B++ affirmed 2/13/2025 (AM Best release). |
| Rate competitiveness | B | 6-year 5.50% vs about 5.50% to 6.05% for A-rated-or-better 5-year MYGAs on 10/14/2026: a longer lock for a rate at the low end of that range, from a B++ insurer. |
| Guaranteed floor | C | MGIR 1.00% for future periods (product page), 1% to 3% by state (summary). Low, as on most MYGAs. |
| Liquidity | B | 5% free withdrawal from year 1; 4 or 6-year schedules from 9% down to 0%; MVA applies to excess withdrawals. |
| Costs | A | No rider fees or annual fee are listed in the summary; waivers are built in. |
| Transparency | A | Rates with an effective date, surrender schedules and the MVA floor are published publicly. |
| Overall | B | Weighted toward financial strength and the contractual minimum, since a fixed rate is only as good as the insurer paying it. |
Pros and cons
Pros
- 5% annual free withdrawal starting in year one, plus one free RMD a year after the first calendar year.
- Short commitments: 4 years (charges end after year 4) or 6 years.
- Published surrender schedules, MVA floor and rates with an effective date.
- $10,000 minimum, issue ages to 85, and online purchase available.
Cons
- B++ (Good) from AM Best, one notch below the A range many buyers set as a floor.
- The 1.00% minimum for future guarantee periods is low, so renewal rates depend on Nassau’s future declarations.
- Automatic renewal for the same term if you miss the 30-day window; a new surrender schedule then applies.
- Not available in ME or NY.
Who it’s for, and when to look elsewhere
Fits: savers who want a declared rate for 4 or 6 years and some access from year one, such as an IRA owner who will need RMDs. A MYGA locks a declared rate for the term, and this one adds the 5% yearly free withdrawal.
Look elsewhere if: you require an A-rated insurer, want a 3, 5, 7 or 10-year term, or live in Maine or New York. Nassau’s own MYAnnuity 5X/7X posts 5.60% to 5.85% depending on term and free-withdrawal election, effective October 1, 2026 (Nassau MYAnnuity page).
For comparison, A-rated-or-better insurers were paying about 5.50% to 6.05% on 5-year MYGAs and the best nationally available 5-year CDs about 4.70% to 5.00% APY (MYGAs: public carrier rate sheets, October 14, 2026; CDs: Bankrate and Popular Direct, October 18, 2026).
Current rates: MYGA rates. Model it with the MYGA growth calculator and the MYGA vs CD after-tax calculator.
Questions to ask your agent
- What minimum guaranteed interest rate and TGV rate will my contract show for my state? Please put them in writing.
- Can you show the full surrender schedule by year for my term and state, an example of the MVA if rates rise 1%, and how the 5% free withdrawal is measured?
- What renewal rate has Nassau declared on Simple Annuity contracts reaching the end of their first term, and how will I be notified?
- If I buy online directly from Nassau versus through you, is the rate the same?
- How are you paid on this product? Agents are paid a commission by the insurer, built into pricing and not deducted from your premium. Ask the percentage and whether the 6-year term pays more than the 4-year. See how annuity commissions work.
From my desk
When I review a Nassau Simple Annuity application, I check three things first: which state version the buyer gets (the California schedule and MVA cap differ), the minimum rates printed in the contract, and the 30-day window date at the end of the term, because the default is an automatic renewal into a new schedule.
The number buyers most often misread on a MYGA is the surrender charge versus the MVA. They are separate. In most states the MVA can be positive or negative with no cap on the upside, and only the 87.5% floor limits the downside.
When I compare this to other MYGAs, I put the 6-year 5.50% next to A-rated 5-year and 7-year quotes on the same date, and ask whether the 5% year-one access is worth any rate gap.
Hypothetical: $100,000 at 5.80% for 6 years with no withdrawals grows to about $140,250 before tax (100,000 × 1.0586). Check your own numbers in the calculator.
About Hans Goldstein: independent licensed insurance producer. CA Life License #4273294. NPN #20602398. Phone: 213-414-2808. Email: [email protected].
Frequently asked questions
What are the current Nassau Simple Annuity rates?
Per Nassau's product summary, rates effective October 1, 2026 are 5.55% for the 4-year guarantee period and 5.80% for the 6-year guarantee period, in most states and in California.
What is the minimum and maximum premium?
A single premium of $10,000 to $2,000,000. Additional premiums are not accepted. Issue ages are 18 to 85.
Can I take money out without a penalty?
Yes, up to 5% a year with no surrender charge or market value adjustment, starting in year one. After the first calendar year, one RMD per contract year is also treated as a free withdrawal.
What is the surrender charge?
In most states: 9%, 8%, 7%, 6% in years 1 to 4 for both terms, then 5% and 4% in years 5 and 6 for the 6-year term. California schedules start at 7.8%.
What happens when the guarantee period ends?
You get a 30-day window to withdraw any amount without surrender charge or MVA, renew, or choose another term. If you do nothing, the contract renews automatically for the same or nearest available term at the rate then declared.
What is Nassau Life and Annuity Company's AM Best rating?
Nassau's financial strength page, read October 4, 2026, shows an AM Best Financial Strength Rating of B++ (Good) with a stable outlook, most recent action February 27, 2026.
Sources (checked October 4, 2026)
- Nassau, Nassau Simple Annuity product summary, most states (D1000SP 10-26): rates effective 10/1/2026, schedule, MVA, waivers.
- Nassau, Nassau Simple Annuity product summary for use in CA (D1000SPCA 10-26).
- Nassau, Fixed Annuity Disclosure Document, Nassau Simple Annuity (OL5303 sample).
- Nassau, Nassau Simple Annuity product page: issue ages, premium range, 1.00% MGIR, online purchase.
- Nassau, Strength and Stability of Our Insurance Carriers: AM Best B++ (Stable), most recent action February 27, 2026.
- AM Best press release, February 13, 2025: B++ FSR affirmed for Nassau Life and Annuity Company.
- Nassau, MYAnnuity 5X/7X page: rates effective October 1, 2026.
- MYGA and CD benchmark: public carrier rate sheets (MYGAs, October 14, 2026) and DepositAccounts (CDs, September 24, 2026); see MYGA rates.
Related: Oxford Life Multi-Select MYGA · 5-year MYGA rates compared · Are annuities FDIC insured? · Annuity second opinion
Get a second opinion before you sign
Talk to Hans Goldstein, a licensed independent insurance producer.
MYGAs lock in your rate for the full term. Before you commit, is this carrier's rate actually competitive vs. the full market? Is the rating tradeoff worth it? Before signing, get an independent review of the rate, surrender schedule, and carrier strength.
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Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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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.