Best Annuity Rates in Georgia (2026)

Georgia has become one of the South’s top retirement destinations — and for good reason. The state offers a generous $65,000 retirement income exclusion for residents age 65 and older, a flat income tax rate heading lower each year, and no estate tax. Atlanta, Savannah, Augusta, and the North Georgia mountains draw retirees from across the Southeast who want mild weather and favorable tax treatment on retirement income. Before shopping rates, take a few minutes to understand how annuities work and which type fits your income goals.

Below are today’s best MYGA rates available to Georgia residents, filtered to A-rated carriers only, updated daily.

Are Fixed Annuities a Good Investment in Georgia?

Georgia’s $65,000 retirement income exclusion is the defining feature for annuity buyers 65 and older. A married couple, both 65+, can exclude up to $130,000 combined in retirement income — including qualifying annuity distributions — from Georgia state taxes each year. For many retirees, that exclusion wipes out their entire Georgia tax bill on annuity withdrawals.

Here’s a concrete example: Robert and Linda, both 67, live near Savannah and draw $80,000 per year combined from their MYGA-funded IRAs. They each claim the $65,000 exclusion. All $80,000 falls below their combined $130,000 threshold — Georgia taxes none of it. A 5-year MYGA at 5.10% on $200,000 grows to roughly $256,000 at maturity. When they start drawing, the exclusion substantially reduces or eliminates their Georgia tax exposure depending on their total income picture.

Even for buyers under 65, Georgia’s flat rate is declining and there’s no estate tax — making it a favorable state overall. Deferring income inside a MYGA until 65 to capture the full exclusion is a common and effective Georgia planning strategy.

Georgia Guaranty Association: How Your Annuity Is Protected

The Georgia Life and Health Insurance Guaranty Association (GLHIGA) protects Georgia policyholders if a licensed insurer becomes insolvent. At $300,000, Georgia’s annuity coverage is above the $250,000 national standard.

For annuity portfolios over $300,000, split across two or more A-rated carriers to keep each position within coverage limits.

Georgia Life and Health Insurance Guaranty Association
Website: galifega.org

How Georgia Taxes Annuity Income

Georgia taxes annuity income as ordinary income at a flat 5.49% (2024 rate). The rate is legally scheduled to continue declining toward a 4.99% target. Residents age 65 and older can exclude up to $65,000 per person of retirement income — including qualifying annuity payments — from Georgia taxable income each year. Residents ages 62–64 can exclude up to $35,000.

Georgia has no estate tax and no inheritance tax. Annuity death benefits pass to named beneficiaries free of Georgia-level estate taxation.

Georgia Office of Insurance and Safety Fire Commissioner

The Georgia Office of Insurance and Safety Fire Commissioner licenses and regulates all insurance carriers and agents in Georgia. Verify both the carrier and your agent before purchasing an annuity.

Tips for Buying an Annuity in Georgia

• Plan around the $65,000 exclusion: At 65, up to $65,000 per person of retirement income — including annuity distributions — is excluded from Georgia taxes. A married couple can shield $130,000 per year. Structure withdrawals to maximize this exclusion each year.
• Defer to 65 if you’re close: If you’re 62–64, the exclusion is $35,000. A MYGA that matures after you turn 65 lets you access the full $65,000 exclusion on distributions — a meaningful planning opportunity.
• The declining rate works in your favor: Georgia’s flat tax is legally scheduled to keep declining toward 4.99%. Income deferred today may be taxed at a lower rate when you eventually withdraw.
• $300,000 guaranty limit gives extra room: Georgia’s above-average limit means you can hold slightly more with a single A-rated carrier while staying fully covered. Split above $300,000.
• Work with an independent broker: Atlanta, Savannah, and Augusta have strong independent broker communities serving retirees. Independent brokers compare 20+ carriers for your best available rate.
• Use the free-look period: Georgia requires at least 10 days to review and cancel any annuity contract for a full premium refund.