Florida is the country’s top retirement destination — and for annuity buyers, it’s one of the most favorable states in the nation. With zero state income tax, a massive independent broker market spanning Tampa, Orlando, Miami, Jacksonville, and The Villages, and no estate tax, Florida residents keep more of every dollar their annuity earns.
Below are today’s best MYGA rates available to Florida residents, filtered to A-rated carriers only, updated daily.
2-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Axonic Insurance | Waypoint 2 MYGA | 5.00%Top Rate | 2 yr | $100,000 | 10% | |
| GBU Life | Asset Guard Select 2 | 4.75% | 2 yr | $25,000 | 10% | |
| Oceanview Life and Annuity | Harbourview 2 | 4.60% | 2 yr | $70,000 | 10% | |
| Mass Mutual | Premier Voyage 2 | 3.45% | 2 yr | $1,000,000 | 10% |
3-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Knighthead Life | Staysail 3 (Simple Interest) SI | 5.60%Top Rate | 3 yr | $100,000 | 0% | |
| Axonic Insurance | Waypoint 3 MYGA | 5.40% | 3 yr | $100,000 | 10% | |
| Fidelity Security Life Insurance Company | TaxVantage® Multi-Year Guaranteed Annuity 3 | 5.25% | 3 yr | $2,500 | 0% | |
| Knighthead Life | Staysail 3 With Liquidity (Simple Interest) SI | 5.25% | 3 yr | $100,000 | 10% | |
| Ibexis | MYGA Plus 3 (Simple Interest) SI | 5.20% | 3 yr | $100,000 | 10% | |
| Athene IA | Athene Max Rate 3 | 4.90% | 3 yr | $100,000 | Interest Only | |
| Midland National Life | MNL Guarantee Pro 3 | 4.85% | 3 yr | $100,000 | Interest Only | |
| Symetra Life Insurance Company | Symetra Select Max 3 | 4.85% | 3 yr | $250,000 | Interest Only |
4-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oxford Life Insurance Company | Multi-Select 4 | 5.10%Top Rate | 4 yr | $20,000 | 10% | |
| Oceanview Life and Annuity | Harbourview 4 | 5.00% | 4 yr | $70,000 | 10% | |
| Clear Spring Life | Preserve MYGA 4 | 4.90% | 4 yr | $100,000 | 10% | |
| Pacific Guardian Life | Diamond Head 4 | 4.80% | 4 yr | $10,000 | 10% | |
| GBU Life | Asset Guard Select 4 | 4.75% | 4 yr | $25,000 | 10% | |
| S.USA Life Insurance Company, Inc. | Select Choice® Plus 1 (4) Year Plan Base Policy MVA | 4.55% | 4 yr | $100,000 | 0% | |
| Corebridge Financial | Corebridge Pathway Choicesm Fixed 4 Annuity GROP | 4.50% | 4 yr | $100,000 | 10% | |
| Guaranty Income Life | Guaranty Rate Lock 4 | 4.50% | 4 yr | $100,000 | 5% |
5-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Knighthead Life | Staysail 5 (Simple Interest) SI | 6.30%Top Rate | 5 yr | $100,000 | 0% | |
| Ibexis | MYGA Plus 5 (Simple Interest) SI | 5.75% | 5 yr | $100,000 | 10% | |
| Knighthead Life | Staysail 5 With Liquidity (Simple Interest) SI | 5.75% | 5 yr | $100,000 | 10% | |
| Axonic Insurance | Waypoint 5 MYGA | 5.65% | 5 yr | $100,000 | 10% | |
| Fidelity Security Life Insurance Company | TaxVantage® Multi-Year Guaranteed Annuity 5 | 5.65% | 5 yr | $2,500 | 0% | |
| Liberty Bankers Life | Heritage Elite 5 | 5.40% | 5 yr | $10,000 | 0% | |
| Liberty Bankers Life | Heritage Premier 5 | 5.35% | 5 yr | $10,000 | Interest Only | |
| Oxford Life Insurance Company | Multi-Select 5 | 5.20% | 5 yr | $20,000 | 10% |
6-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oxford Life Insurance Company | Multi-Select 6 | 5.55%Top Rate | 6 yr | $20,000 | 10% | |
| Oceanview Life and Annuity | Harbourview 6 | 5.35% | 6 yr | $70,000 | 10% | |
| Clear Spring Life | Preserve MYGA 6 | 5.10% | 6 yr | $100,000 | 10% | |
| Pacific Guardian Life | Diamond Head 6 | 5.00% | 6 yr | $10,000 | 10% | |
| Guardian Insurance & Annuity Co. | Guardian Fixed Target Annuity 6 | 4.70% | 6 yr | $100,000 | 10% | |
| Mass Mutual | Premier Voyage 6 | 4.70% | 6 yr | $1,000,000 | 10% | |
| American General Life Insurance Company | American Pathway VisionMYG 6 | 4.15% | 6 yr | $100,000 | 15% | |
| Corebridge Financial | American Pathway VisionMYG 6 | 4.15% | 6 yr | $100,000 | 15% |
7-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Knighthead Life | Staysail 7 (Simple Interest) SI | 6.50%Top Rate | 7 yr | $100,000 | 0% | |
| Ibexis | MYGA Plus 7 (Simple Interest) SI | 5.95% | 7 yr | $100,000 | 10% | |
| Knighthead Life | Staysail 7 With Liquidity (Simple Interest) SI | 5.95% | 7 yr | $100,000 | 10% | |
| Fidelity Security Life Insurance Company | TaxVantage® Multi-Year Guaranteed Annuity 7 | 5.60% | 7 yr | $2,500 | 0% | |
| Axonic Insurance | Waypoint 7 MYGA | 5.50% | 7 yr | $100,000 | 10% | |
| Liberty Bankers Life | Heritage Elite 7 | 5.45% | 7 yr | $10,000 | 0% | |
| Oxford Life Insurance Company | Multi-Select 7 | 5.45% | 7 yr | $20,000 | 10% | |
| Liberty Bankers Life | Heritage Premier 7 | 5.40% | 7 yr | $10,000 | Interest Only |
8-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oxford Life Insurance Company | Multi-Select 8 | 5.20%Top Rate | 8 yr | $20,000 | 10% | |
| Clear Spring Life | Preserve MYGA 8 | 5.10% | 8 yr | $100,000 | 10% | |
| Pacific Guardian Life | Diamond Head 8 | 5.00% | 8 yr | $10,000 | 10% | |
| Guaranty Income Life | Guaranty Rate Lock 8 | 4.10% | 8 yr | $100,000 | 5% |
9-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Liberty Bankers Life | Heritage Elite 9 | 5.50%Top Rate | 9 yr | $10,000 | 0% | |
| Liberty Bankers Life | Heritage Premier 9 | 5.45% | 9 yr | $10,000 | Interest Only | |
| Liberty Bankers Life | Heritage Premier Plus 9 | 5.35% | 9 yr | $10,000 | Interest Only | |
| Liberty Bankers Life | Heritage Classic 9 | 5.25% | 9 yr | $10,000 | 10% | |
| Securian Financial | SecureOption Choice 9 | 5.20% | 9 yr | $500,000 | 10% | |
| Clear Spring Life | Preserve MYGA 9 | 5.10% | 9 yr | $100,000 | 10% | |
| Oxford Life Insurance Company | Multi-Select 9 | 5.10% | 9 yr | $20,000 | 10% | |
| Pacific Guardian Life | Diamond Head 9 | 5.00% | 9 yr | $10,000 | 10% |
10-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Axonic Insurance | Waypoint 10 MYGA | 5.50%Top Rate | 10 yr | $100,000 | 10% | |
| Oceanview Life and Annuity | Harbourview 10 | 5.45% | 10 yr | $70,000 | 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.
Key Takeaways
- Florida has no state income tax — annuity withdrawals are taxed only at the federal level, making after-tax returns significantly higher than in most states
- The Florida Life and Health Insurance Guaranty Association protects up to $250,000 in annuity present value per person, per insurer
- Florida law requires a 21-day free-look period for buyers age 65 and older — you can return any annuity for a full refund within that window
- Florida has no estate tax and no inheritance tax — annuity death benefits pass to beneficiaries without additional state-level cost
- For balances over $250,000, spread across multiple A-rated carriers to stay within guaranty fund limits
Are Fixed Annuities a Good Investment in Florida?
For Florida retirees, fixed annuities combine two rare advantages: federal-only taxation and guaranteed growth. When you withdraw from a MYGA or fixed annuity in Florida, you pay zero state income tax — only federal tax at your ordinary income bracket.
Consider this scenario: Linda, age 67, lives in Sarasota with $200,000 in a CD maturing at 4.00%. She rolls it into a 5-year MYGA at 5.10%. At maturity, her account reaches approximately $255,886 — guaranteed, no market risk. The $55,886 in growth is taxed federally (at her 22% bracket), but Florida collects nothing. Compare that to a retiree in California paying 9.3% state tax on the same gain — that’s an extra $5,197 in state taxes Florida residents simply don’t owe.
Florida also has no estate tax and no inheritance tax, so your annuity’s death benefit passes to your heirs with no state-level deduction.
Florida Guaranty Association: How Your Annuity Is Protected
The Florida Life and Health Insurance Guaranty Association (FLHIGA) protects Florida policyholders if a licensed insurance carrier becomes insolvent. Coverage is automatic — you don’t enroll and pay nothing extra.
| Coverage Type | Florida Protection Limit |
|---|---|
| Annuity present value | $250,000 per person, per insurer |
| Life insurance death benefit | $300,000 per person, per insurer |
| Life insurance cash value | $100,000 per person, per insurer |
| Multiple policies at same insurer | Combined subject to limits above |
If you have more than $250,000 to place in annuities, split it across two or more A-rated carriers. Each insurer has its own $250,000 limit — so $500,000 split equally between two carriers is fully protected.
Florida Life and Health Insurance Guaranty Association
Website: flhiga.org
How Florida Taxes Annuity Income
Florida has no state income tax — period. This is one of the most significant benefits for annuity buyers in Florida. Withdrawals from both qualified and non-qualified annuities are subject only to federal income tax.
| Annuity Type | Florida Tax Treatment | State Rate |
|---|---|---|
| Non-qualified (after-tax funds) | Only gains taxed federally; Florida collects nothing | 0% |
| Qualified (IRA / 401(k) rollover) | 100% of each distribution is federally taxable; Florida collects nothing | 0% |
| Roth IRA annuity | Qualified distributions are fully tax-free | 0% |
| 1035 Exchange | No state or federal tax triggered on the exchange itself | N/A |
Florida has no inheritance tax and no estate tax at the state level. Federal estate taxes may apply for estates exceeding the federal exemption threshold ($13.61 million per individual as of 2026), but the vast majority of Florida retirees are not affected.
Florida Office of Insurance Regulation (OIR)
The Florida Office of Insurance Regulation (OIR) licenses and regulates all insurance carriers and agents operating in Florida. Before buying an annuity, verify the carrier’s license and your agent’s license through OIR’s online lookup at floir.com. File complaints through the same site.
| Contact | Details |
|---|---|
| Agency | Florida Office of Insurance Regulation (OIR) |
| Consumer helpline | 1-877-693-5236 |
| Website | floir.com |
| License verification | floir.com/companies-agents-and-adjusters |
Tips for Buying an Annuity in Florida
- Use the 21-day free-look period (age 65+): Florida mandates 21 days for buyers 65 and older. Read the contract carefully — cancel for a full refund of premium if anything doesn’t match what you were told.
- Work with an independent broker: Independent brokers represent 20+ carriers and can shop the market for the best rate. Captive agents only sell one company’s products.
- Don’t exceed $250,000 per carrier: Spread larger portfolios across multiple A-rated insurers to maximize guaranty fund protection.
- Compare MYGA rates vs. CDs: Florida banks offer competitive CD rates, but MYGAs from A-rated carriers typically outperform CDs on equivalent terms — and offer tax deferral on growth, which CDs don’t.
- Verify carriers are licensed in Florida: Not every carrier available nationally is licensed in FL. Confirm through OIR before applying.
Frequently Asked Questions
Does Florida tax annuity income?
No. Florida has no state income tax. Annuity withdrawals — whether from a MYGA, fixed annuity, or income annuity — are taxed only at the federal level. This makes Florida one of the most tax-efficient states in the country for annuity owners.
What is the best annuity rate in Florida today?
The best MYGA rates available to Florida residents from A-rated carriers range from approximately 4.50%–5.50% depending on the term as of early 2026. See the live rate table above for current figures, updated daily from AnnuityRateWatch.
How much does the Florida Guaranty Association cover?
The Florida Life and Health Insurance Guaranty Association (FLHIGA) protects up to $250,000 in annuity present value per person, per insurance company. If you have more than $250,000 in annuities, spread it across multiple A-rated carriers — each with its own separate $250,000 limit.
What is the free-look period for annuities in Florida?
Florida requires a minimum 21-day free-look period for annuity contracts sold to buyers age 65 and older, and 10 days for others. During this window, you can return the contract for a full refund of your premium. Many carriers voluntarily offer longer periods.
Who regulates annuities in Florida?
The Florida Office of Insurance Regulation (OIR) licenses and regulates all insurance carriers and agents in Florida. You can verify licenses and file complaints at floir.com or by calling 1-877-693-5236.
Is there an inheritance tax on annuities in Florida?
No. Florida has no state inheritance tax and no estate tax. Annuity death benefits paid to beneficiaries are not subject to Florida state-level taxation. Federal estate tax rules apply if the total estate exceeds the federal exemption threshold.
What happens to my annuity if my insurance company fails in Florida?
If your carrier is licensed in Florida and becomes insolvent, the Florida Life and Health Insurance Guaranty Association covers up to $250,000 of your annuity’s present value. Protection is automatic — no enrollment required. Stick with AM Best A-rated carriers to minimize insolvency risk in the first place.