Annuity Rates
April 2026: top MYGA rates reach 6.30%, SPIA payouts up to $1,659/month on $250K at 65, FIA caps 8–10%. Compare all types from 30+ A-rated carriers.
“Rates change with the interest-rate environment—compare MYGA, indexed, and SPIA payouts before you commit.”
Annuity rates in April 2026 depend almost entirely on which type of annuity you're looking at — and most comparison sites treat them as if they're the same metric. They're not. A MYGA rate is a contractually guaranteed crediting rate, like a CD yield. A SPIA rate is an income payout measured in dollars per month. An FIA cap rate is the ceiling on what you can earn in a strong index year — not a guaranteed return. Mixing these in one comparison leads to selecting the wrong product.
As an independent agency working across 30+ A-rated carriers, we pull current rate sheets weekly and help clients match the right product type to their actual goal — not just the highest number on a comparison page. Here's where each rate type stands in April 2026 and what's actually driving the numbers.
Key Takeaways
- Top 5-year MYGA rates reach 6.30% as of April 2026 (American Gulf Anchor MYGA 5, $10,000+ minimum)
- SPIA payouts for a 65-year-old male with $250,000 run up to $1,659/month on a 5-year period certain (top carrier, April 2026 survey)
- FIA S&P 500 annual cap rates run 8–10%; proprietary index participation rates reach up to 460% on volatility-controlled indices
- Top 5-year MYGAs beat comparable 5-year bank CDs by roughly 1.9 percentage points, with the added advantage of tax-deferred growth on non-qualified funds
- MYGA, SPIA, and FIA rates are not the same metric — comparing them directly without context produces bad decisions
- Annuities are not appropriate for money you may need liquid access to before the surrender period ends
Rates by product
Current rate guides for MYGA, fixed indexed, and SPIA payouts.
What Annuity Rate Means by Product Type
Not all annuity rates measure the same thing. Before comparing numbers, you need to know which type of rate you're looking at and what it actually represents in practice.
MYGA Rates: Guaranteed Crediting
A MYGA — multi-year guaranteed annuity — pays a contractually guaranteed interest rate for the full term you select: 2, 3, 5, or 10 years. If you fund a 5-year MYGA at 6.30%, your money credits at 6.30% per year regardless of what markets, interest rates, or the carrier's investment performance do during that period. There are no surprises at renewal if you hold the full term.
Current top rates on the April 2026 board: 5.85% on 3-year terms (Wichita National Security 3), 6.30% on 5-year terms (American Gulf Anchor MYGA 5), and 6.05% on 10-year terms (Wichita National Security 10). For full carrier-by-carrier tables across every term length, see top MYGA rates.
SPIA Rates: Income Payout
A SPIA — single premium immediate annuity — doesn't advertise a crediting rate. It converts a lump sum into a monthly income stream that begins within 30 days of funding. The effective "rate" is the annualized income divided by your premium. On our April 2026 survey, a 65-year-old male in Ohio depositing $250,000 with a 5-year period certain received up to $1,659/month from the top carrier — an effective payout rate of roughly 8.0%.
Age, gender, and the guarantee period you select all move the number significantly. A 70-year-old male at the same $250,000 receives around $1,924/month; a 60-year-old drops to $1,520/month. Shorter period-certain options also produce higher monthly income. See the full payout survey at SPIA rates.
FIA Rates: Cap and Participation
A fixed indexed annuity links your growth potential to a market index without directly investing in it. The "rate" is either a cap — the maximum annual gain credited — or a participation rate, the percentage of index gains you receive. S&P 500 annual cap rates across leading FIA carriers currently run 8–10%. Proprietary index strategies from carriers like Athene and Delaware Life offer participation rates of 150–460% on volatility-controlled indices designed to run at lower implied volatility than the S&P 500.
These are not guaranteed returns. They're the ceiling on what you can earn in a strong index year. In a flat year, you may earn 0–4%. In a down year, you earn 0% — principal is protected, but growth stops. Full breakdown at top FIA rates.
Current Annuity Rate Ranges by Type
Rates sourced directly from carrier rate sheets and verified by our licensed agents as of April 1, 2026.
2026 Annuity Rate Snapshot — Methodology
Insurance Geek compiled annuity rate data from carrier rate sheets verified by licensed agents as of April 1, 2026. MYGA rates reflect the highest published guaranteed crediting rate at standard minimum premium. SPIA payouts reflect the top carrier quote from our April 2026 survey for a 65-year-old male in Ohio, single life, non-qualified funds. FIA cap and participation rates are current declared rates subject to change at renewal.
- Data source
- Carrier rate sheets and licensed agent verification
- Carriers
- 30+ A-rated carriers
- Date range
- April 2026
- States
- All 50 states (product availability varies by state)
| Product Type | Current Rate / Payout | What It Measures |
|---|---|---|
| 3-Year MYGA | Up to 5.85% | Guaranteed crediting rate, full term |
| 5-Year MYGA | Up to 6.30% | Guaranteed crediting rate, full term |
| 10-Year MYGA | Up to 6.05% | Guaranteed crediting rate, full term |
| SPIA (age 65, $250K) | Up to $1,659/month | Monthly income; varies by age, gender, guarantee length |
| FIA S&P 500 Cap | 8% – 10% annually | Maximum annual gain from S&P 500 index participation |
| FIA Proprietary Index | 150% – 460% participation | Participation on managed, volatility-controlled indices |
These ranges reflect the top of the market for each product type as of the April 2026 snapshot. Your rate depends on your premium amount, state, annuity type, and carrier — and for SPIAs, your age and the guarantee length you select. We run quotes across the full market so you see where you actually land before funding anything.
What Drives Annuity Rates
Annuity rates respond to multiple forces at once. Understanding them helps you decide whether to act on current levels or wait.
Treasury Yields and Fed Policy
Insurance companies fund annuity guarantees primarily through investment-grade bonds and Treasuries. When the 10-year Treasury yield is elevated — currently around 4.6% — carriers can afford to credit higher guaranteed rates and offer stronger SPIA income payouts. Both MYGA rates and SPIA payouts have run materially higher since 2022–2023 than they did in the 2012–2020 low-rate era.
The data makes this concrete: the April 2026 top SPIA payout of $1,659/month on a $250,000 deposit compares to roughly $1,180/month during 2012–2016 on the same parameters — a 40% increase tied almost entirely to the rate environment. MYGAs tell the same story. For a direct comparison between MYGA rates and bank CD rates in the current environment, see annuities vs. CDs.
Carrier Competition and New Business Appetite
Not every carrier prices aggressively at the same time. A carrier actively seeking premium inflows may push their MYGA crediting rate to the top of the board for a quarter; carriers at capacity may price conservatively. On the April 2026 5-year MYGA board, the range across quality carriers runs from roughly 5.80% to 6.30%. Shopping across the full carrier market captures that spread rather than landing wherever one company happens to price on a given week.
How to Compare Annuity Rates Effectively
Match the Rate Type to Your Goal
Before comparing any numbers, confirm what you're actually trying to accomplish. If you need guaranteed growth without touching the money for five years, MYGA rates are the right comparison. If you need income now or at a specific future date, SPIA payouts are what you compare. If you want principal protection with potential market participation over a 7–10 year horizon, FIA cap rates enter the picture. Mixing these in one comparison produces noise, not a decision.
Carrier Financial Strength Matters
A higher crediting rate from a financially weaker carrier is not automatically a better deal. State guaranty associations typically cover $100,000–$500,000 per insurer (limits vary by state), so concentration risk matters on larger deposits. Balance rate competitiveness against AM Best ratings, and consider spreading deposits across multiple carriers if your total annuity position exceeds your state's per-insurer coverage limit.
Know What Is Actually Guaranteed
Some products advertise higher illustrated rates using premium bonuses that apply only to an income benefit base — not to your actual cash value or crediting rate. True MYGA rates are guaranteed for the full term. Bonus-heavy products require a formal illustration to isolate the base crediting rate. For FIAs, cap and participation rates are guaranteed for an initial period and reset annually based on carrier pricing from that point forward.
Expert Tip: The Comparison Most Buyers Get Wrong
The mistake I see consistently: stacking a MYGA guaranteed rate against an FIA cap rate as if they're equivalent. A 6.30% MYGA delivers that return every year, contractually. A 9% FIA cap delivers up to 9% only in years when the S&P 500 rises more than that cap. In flat or modestly positive years, you earn whatever the index actually does — often 0–4%. The expected return gap between these two is significant and almost never explained at the point of sale.
—Brad Cummins, Insurance Geek Founder
When Annuity Rates Aren't the Right Metric
Not every financial situation calls for an annuity, regardless of where rates stand. The honest answer on when annuities don't make sense matters as much as when they do.
Liquidity needs disqualify most annuities immediately. MYGAs and FIAs carry surrender charges — typically 7–10% in year one, declining over the guarantee period. Most contracts allow penalty-free withdrawals of up to 10% annually after year one, but if there's a realistic chance you'll need more than that before the term ends, a bank CD or short-term Treasury ladder offers comparable rates without the surrender exposure.
Short time horizons change the math. A 5-year MYGA at 6.30% outperforms a 5-year CD at approximately 4.40% if you hold to maturity. Factor in surrender charges on an early exit and the comparison reverses quickly. If your timeline is under three years, the MYGA rate advantage largely disappears after accounting for liquidity risk.
Sufficient guaranteed income reduces the SPIA case. If pension plus Social Security already covers essential monthly expenses, converting additional assets into more fixed income may reduce portfolio flexibility without adding meaningful retirement security. The right question isn't whether SPIA rates are attractive in isolation — it's whether you have an income gap worth filling at the cost of asset liquidity.
FAQ
Compare Annuity Quotes
Get quotes from multiple carriers. Compare rates and product fit in minutes.
See your numbers