Last updated: March 2026 | Reviewed by: AnnuityJournal Editorial Team
A 10-year MYGA offers the longest guaranteed rate you can lock in — and whether that’s smart depends entirely on where interest rates are going and how old you are. Right now, with rates near multi-decade highs, locking in a 10-year guaranteed rate above 5% deserves serious consideration for the right buyer. Here’s what’s available and exactly who that buyer is.
Best 10-Year Fixed Annuity Rates (March 2026)
10-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oceanview Life and Annuity | Harbourview 10 | 5.55%Top Rate | 10 yr | $70,000 | 10% | |
| Axonic Insurance | Waypoint 10 MYGA | 5.50% | 10 yr | $100,000 | 10% | |
| Royal Neighbors of America | MYGA 10 Year | 5.30% | 10 yr | $100,000 | Interest Only | |
| Oxford Life Insurance Company | Multi-Select 10 | 5.15% | 10 yr | $20,000 | 10% | |
| American National Insurance Company | Palladium MYG Annuity 10 | 5.10% | 10 yr | $250,000 | 10% | |
| Clear Spring Life | Preserve MYGA 10 | 5.10% | 10 yr | $100,000 | 10% | |
| Reliance Standard Life | Reliance Guarantee - 10 | 5.10% | 10 yr | $20,000 | 10% | |
| Pacific Guardian Life | Diamond Head 10 | 5.00% | 10 yr | $10,000 | 10% |
Rates shown are for informational purposes only and subject to change without notice. Only carriers rated A− or better by AM Best are included. Products marked SI use simple interest — the effective compound yield is lower than the stated rate. Minimum premiums shown are for non-qualified (after-tax) funds. Always verify current rates with a licensed annuity broker before purchasing.
Rates updated weekly from our carrier network. For comparison, see our full MYGA rate comparison across all terms.
10-Year vs. 5-Year MYGAs: Which Makes More Sense Right Now?
The rate premium you earn for a 10-year commitment over a 5-year commitment matters. In a normal yield curve environment, 10-year rates are meaningfully higher than 5-year rates — you’re compensated for the additional lockup. When the spread is narrow (less than 0.25–0.50%), the 5-year term often wins because you retain more flexibility without giving up much in yield.
| Term | Typical Rate Range (March 2026) | Best For |
|---|---|---|
| 3-Year | 4.75–5.20% | Short bridge, rate flexibility |
| 5-Year | 5.00–5.50% | Best rate/flexibility balance |
| 7-Year | 5.10–5.55% | Higher rate, moderate lockup |
| 10-Year | 5.15–5.65% | Maximum rate certainty, longer time horizon |
The rate gap between 5-year and 10-year MYGAs is currently modest — which is unusual. In historical rate environments, you’d expect 50+ basis points more for the 10-year commitment. That compressed spread means you’re accepting 5 extra years of lockup for relatively little additional yield. Whether that tradeoff is worth it depends on your view of where rates are going. See our best 5-year MYGA rates and best 7-year MYGA rates for direct comparison.
Who Should Consider a 10-Year MYGA?
The ideal 10-year MYGA buyer has three characteristics:
- Age 50–60: Locking in rates for 10 years makes sense when retirement is 5–15 years away and you want certainty about what a portion of your savings will grow to. A 55-year-old buying a 10-year MYGA knows exactly what they’ll have at 65.
- Believes rates will fall: If the Fed cuts rates significantly over the next 5 years — which many economists expect as inflation cools — today’s 5%+ 10-year rate will look exceptional in hindsight. Locking in now hedges against reinvestment risk.
- Has other liquid assets: A 10-year surrender period requires genuine financial planning. You need liquid emergency funds, accessible investment accounts, and other income sources. Never lock up your only savings for a decade.
Who Should Avoid a 10-Year MYGA
Don’t buy a 10-year MYGA if:
- You’re over 70 — a 10-year surrender period means you’re 80 when it matures. At that point, flexibility matters more than rate optimization.
- You might need the funds within 10 years for healthcare, real estate, or family needs
- You believe rates will rise further — in that case, a 3-year MYGA lets you reinvest at higher rates when it matures
- This represents more than 30–40% of your investable assets — diversify across terms and products
The Surrender Charge Reality
A 10-year MYGA comes with a 10-year surrender charge schedule. Surrender charges are steep in the early years — typically 8–10% in year one, declining by 1% per year until they reach zero at maturity. These are not fees you pay every year; they only apply if you withdraw more than the free withdrawal allowance (typically 10% of account value per year) before the surrender period ends.
The free withdrawal provision is important — most 10-year MYGAs let you access 10% of the account value per year without any penalty. That provides a meaningful liquidity valve even within the surrender period. See our complete surrender charges guide for how the math works across different scenarios.
Tax Deferral Over 10 Years: The Real Value Proposition
The most underappreciated benefit of a 10-year MYGA isn’t the rate — it’s the tax deferral. Interest earned inside a non-qualified MYGA compounds without annual tax drag. At 5.30% with zero tax drag for 10 years, $100,000 grows to approximately $167,000. The same 5.30% rate inside a taxable account for someone in the 24% bracket earns effectively 4.03% after-tax — growing the same $100,000 to approximately $148,000.
That’s a $19,000 difference on $100,000 over 10 years — entirely from the tax deferral. The longer the term and the higher your tax bracket, the more valuable this advantage becomes. Read our guide to tax-deferred annuity growth for the complete picture.
What Happens at Maturity
At the end of the 10-year term, you have full access to your funds with no surrender charge. Options include:
- Withdraw all funds (taxable event on non-qualified earnings)
- Renew at whatever rate the carrier is offering for the next term
- Transfer via 1035 exchange to a different annuity — an income annuity, FIA, or another MYGA — without triggering a tax event
- Begin systematic withdrawals designed to minimize annual tax impact
For most buyers, the 10-year maturity point coincides with or follows retirement — making it a natural moment to convert accumulated wealth into guaranteed retirement income. See our 1035 exchange guide for how to move between annuity contracts without tax consequences.
Frequently Asked Questions
Are there 10-year fixed annuities available?
Yes — several carriers offer 10-year Multi-Year Guaranteed Annuities (MYGAs). The market for 10-year products is smaller than 3–5 year terms, but A-rated carriers including North American, Athene, and Midland National regularly offer 10-year MYGA products. Current rates are listed in the table above.
What is the penalty for early withdrawal from a 10-year annuity?
Most 10-year MYGAs have surrender charges starting at 8–10% in year one, declining by approximately 1% each year. Most allow 10% of the account value to be withdrawn penalty-free per year. Early withdrawals before age 59½ are also subject to a 10% IRS penalty on earnings, regardless of surrender charge status. Read our surrender charges guide for full details.
Is a 10-year annuity a good investment?
For the right buyer — someone 50–62 with a long time horizon, adequate liquidity elsewhere, and money they won’t need for a decade — a 10-year MYGA at current rates provides guaranteed growth, tax deferral, and principal protection that few alternatives can match. It’s not the right choice for older buyers who need flexibility, or for anyone who may need the funds during the surrender period.
How much does a $100,000 annuity earn over 10 years?
At 5.30% annual interest with tax deferral, $100,000 in a 10-year MYGA grows to approximately $167,000 — a gain of $67,000. The entire gain is tax-deferred until withdrawal. At a 24% tax rate, the after-tax value at withdrawal would be approximately $151,000 — still meaningfully more than an equivalent taxable investment earning the same rate. Use our annuity calculator to model your specific amount and rate.