Missouri offers a low top income tax rate, a strong Social Security exemption for most retirees, and no estate tax — a combination that makes it one of the more favorable Midwest states for annuity buyers. Kansas City, St. Louis, Springfield, and the Lake of the Ozarks region draw retirees from across the region who want Midwest roots with a manageable tax burden. Understanding how annuities work is the right starting point before comparing today’s rates.
Below are today’s best MYGA rates available to Missouri 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% | |
| Oceanview Life and Annuity | Harbourview 2 | 4.80% | 2 yr | $70,000 | 10% | |
| GBU Life | Asset Guard Select 2 | 4.75% | 2 yr | $25,000 | 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 (state specific) | 4.90% | 3 yr | $100,000 | Interest Only | |
| Oceanview Life and Annuity | Harbourview 3 | 4.90% | 3 yr | $70,000 | 10% | |
| Midland National Life | MNL Guarantee Pro 3 | 4.85% | 3 yr | $100,000 | Interest Only |
4-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oceanview Life and Annuity | Harbourview 4 | 5.20%Top Rate | 4 yr | $70,000 | 10% | |
| Oxford Life Insurance Company | Multi-Select 4 | 5.10% | 4 yr | $20,000 | 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% | |
| Guardian Insurance & Annuity Co. | Guardian Fixed Target Annuity 4 | 4.65% | 4 yr | $100,000 | 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% |
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 | 5.50% | 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 | 4.80% | 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 | 4.30% | 6 yr | $100,000 | 15% | |
| Corebridge Financial | American Pathway VisionMYG 6 | 4.30% | 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 |
|---|---|---|---|---|---|---|
| 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.
Key Takeaways
- Missouri’s top income tax rate is 4.95% — and the rate has been declining each year as Missouri phases toward lower rates
- Missouri fully exempts Social Security from state income tax for residents with adjusted gross income below $85,000 (single) or $100,000 (married)
- The Missouri Life and Health Insurance Guaranty Association protects up to $250,000 in annuity present value per person, per insurer
- Missouri law requires a minimum 10-day free-look period for annuity contracts
- Missouri has no state estate tax and no inheritance tax
Are Fixed Annuities a Good Investment in Missouri?
Missouri’s 4.95% top rate is reached quickly — the top bracket begins at just over $9,000 of taxable income — meaning most retirees drawing annuity income will be taxed at the top rate. At 4.95%, the annual tax on $10,000 of taxable annuity interest is $495. Inside a MYGA, that $495 stays compounding each year. Over a 5-year term on a $200,000 contract at 5.00%, the cumulative deferred Missouri state tax on $50,000 of interest is approximately $2,475 — real savings that stays inside the contract.
Here is a concrete example: Richard, age 65, lives in Kansas City with $180,000 to protect. He puts it into a 5-year MYGA at 5.10%. His account grows to approximately $230,858 at maturity — a $50,858 gain. Missouri taxes that gain when he withdraws, but during accumulation, he owed zero Missouri income tax on the growth. Missouri also exempts his Social Security income entirely (his AGI is below $85,000), keeping his total retirement tax picture manageable.
Missouri Guaranty Association: How Your Annuity Is Protected
The Missouri Life and Health Insurance Guaranty Association (MLHIGA) protects Missouri policyholders if a licensed insurer becomes insolvent. Coverage is automatic — no enrollment required.
| Coverage Type | Missouri 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 |
For annuity portfolios over $250,000, split across two or more A-rated carriers to keep each position within coverage limits.
Missouri Life and Health Insurance Guaranty Association
Website: molifega.org
How Missouri Taxes Annuity Income
Missouri taxes annuity income as ordinary income under a graduated rate structure topping at 4.95%. The top bracket is reached at relatively low income — most retirees drawing significant annuity income will be in the top bracket. Missouri fully exempts Social Security benefits for residents with AGI below $85,000 (single) or $100,000 (married filing jointly). Above those thresholds a phaseout applies.
| Missouri Taxable Income (Single) | Missouri Rate |
|---|---|
| $0 – $1,121 | 1.5% |
| $1,122 – $2,242 | 2.0% |
| $2,243 – $3,363 | 2.5% |
| $3,364 – $4,484 | 3.0% |
| $4,485 – $5,605 | 3.5% |
| $5,606 – $6,726 | 4.0% |
| $6,727 – $7,847 | 4.5% |
| Over $7,847 | 4.95% |
Missouri has no estate tax and no inheritance tax. Annuity death benefits paid to named beneficiaries bypass probate and pass free of Missouri estate-level taxation.
Missouri Department of Commerce and Insurance
The Missouri Department of Commerce and Insurance (DCI) licenses and regulates all insurance carriers and agents operating in Missouri. Verify both the carrier and your agent before purchasing an annuity.
| Contact | Details |
|---|---|
| Agency | Missouri Department of Commerce and Insurance |
| Consumer services | 573-751-2640 |
| Toll-free | 1-800-726-7390 |
| Website | insurance.mo.gov |
| License verification | Missouri license lookup |
Tips for Buying an Annuity in Missouri
- Watch the Social Security exemption thresholds: Missouri fully exempts Social Security for AGI under $85,000 (single) or $100,000 (married). Large annuity withdrawals that push your AGI above those thresholds can make part of your Social Security taxable at the state level. Consider spreading withdrawals across years to stay below the thresholds.
- The 4.95% top rate kicks in fast: Missouri’s top bracket begins at just over $7,847 of taxable income — meaning almost all retirees with meaningful annuity income will be in the top bracket. Factor the full 4.95% into your after-tax return calculation.
- The declining rate works in your favor: Missouri has been reducing its top rate each year. Income deferred today may be taxed at a lower rate when you withdraw in future years.
- Don’t exceed $250,000 per carrier: For portfolios over $250,000, use two or more A-rated carriers to stay within guaranty protection limits.
- Work with an independent broker: Kansas City and St. Louis have competitive independent broker markets. Independent brokers compare 20+ carriers for your best available rate.
- Use the free-look period: Missouri requires at least 10 days to review and cancel any annuity contract for a full premium refund.
Frequently Asked Questions
Does Missouri tax annuity income?
Yes, at graduated rates up to 4.95%. The top bracket is reached at just over $7,847 of taxable income, so most retirees with meaningful annuity withdrawals will pay the top rate. Missouri fully exempts Social Security for residents with AGI below $85,000 (single) or $100,000 (married).
What is the best annuity rate in Missouri today?
The best MYGA rates available to Missouri 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.
How much does the Missouri Guaranty Association cover?
The Missouri Life and Health Insurance Guaranty Association protects up to $250,000 in annuity present value per person, per insurance company. For investments over $250,000, spread across multiple A-rated carriers.
Does Missouri exempt Social Security from state income tax?
Yes. Missouri fully exempts Social Security benefits from state income tax for residents with adjusted gross income below $85,000 (single) or $100,000 (married filing jointly). Above those thresholds, the exemption phases out. Keeping total AGI — including annuity withdrawals — below these thresholds protects the full exemption.
Does Missouri have an estate or inheritance tax?
No. Missouri has neither a state estate tax nor an inheritance tax. Annuity death benefits paid to named beneficiaries pass free of Missouri estate-level taxation and bypass probate.
What is the free-look period for annuities in Missouri?
Missouri requires a minimum 10-day free-look period. You can return the contract for a full refund of premium within that window.
Who regulates annuities in Missouri?
The Missouri Department of Commerce and Insurance. Verify licenses at insurance.mo.gov or call 1-800-726-7390.