New York offers the highest annuity guaranty protection in the country — up to $500,000 per person, per insurer — double the standard in most states. Combined with a large, highly regulated insurance market serving New York City, Long Island, the Hudson Valley, and upstate communities, New York gives annuity buyers unusually strong consumer protections, even as the state’s income taxes rank among the highest in the nation.
Below are today’s best MYGA rates available to New York residents, filtered to A-rated carriers only, updated daily.
3-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| SBLI USA | Select Choice 1 (3) Base Policy | 4.65%Top Rate | 3 yr | $100,000 | 0% | |
| SBLI USA | Select Choice 3 (3) Base Policy + PFW | 4.60% | 3 yr | $100,000 | 10% | |
| Athene Annuity & Life Assurance Company of New York | Athene Max Rate 3 MYGA - NY | 4.55% | 3 yr | $100,000 | Interest Only | |
| SBLI USA | Select Choice 2 (3) Base Policy + ROP | 4.55% | 3 yr | $100,000 | 0% | |
| SBLI USA | Select Choice 4 (3) Base Policy + ROP + PFW | 4.45% | 3 yr | $100,000 | 10% | |
| SBLI USA | Select Choice® Plus 1 (3) Year Plan Base Policy MVA | 4.40% | 3 yr | $100,000 | 0% | |
| SBLI USA | Select Choice® Plus 3 (3) Year Plan (Base + PFW) MVA | 4.35% | 3 yr | $100,000 | 10% | |
| Mass Mutual | Stable Voyage 3 | 4.30% | 3 yr | $100,000 | 10% |
4-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Mass Mutual | Stable Voyage 4 | 4.30%Top Rate | 4 yr | $100,000 | 10% | |
| Guardian Insurance & Annuity Co. | Guardian Fixed Target Annuity 4 | 4.15% | 4 yr | $100,000 | 10% | |
| The United States Life Insurance Co. (NY) | Corebridge Pathway Choicesm Focus NY 4 | 4.10% | 4 yr | $249,999 | 10% | |
| The United States Life Insurance Co. (NY) | Corebridge Pathway Choicesm Focus NY 4 ROP | 3.95% | 4 yr | $249,999 | 10% |
5-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| SBLI USA | Select Choice 1 (5) Base Policy | 4.90%Top Rate | 5 yr | $100,000 | 0% | |
| SBLI USA | Select Choice 3 (5) Base Policy + PFW | 4.85% | 5 yr | $100,000 | 10% | |
| Athene Annuity & Life Assurance Company of New York | Athene Max Rate 5 MYGA - NY | 4.80% | 5 yr | $100,000 | Interest Only | |
| SBLI USA | Select Choice® Plus 1 (5) Year Plan Base Policy MVA | 4.70% | 5 yr | $100,000 | 0% | |
| SBLI USA | Select Choice 2 (5) Base Policy + ROP | 4.65% | 5 yr | $100,000 | 0% | |
| SBLI USA | Select Choice® Plus 3 (5) Year Plan (Base + PFW) MVA | 4.65% | 5 yr | $100,000 | 10% | |
| Mass Mutual | Stable Voyage 5 | 4.60% | 5 yr | $100,000 | 10% | |
| SBLI USA | Select Choice 4 (5) Base Policy + ROP + PFW | 4.55% | 5 yr | $100,000 | 10% |
6-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Guardian Insurance & Annuity Co. | Guardian Fixed Target Annuity 6 | 4.70%Top Rate | 6 yr | $100,000 | 10% |
7-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| SBLI USA | Select Choice 1 (7) Base Policy | 5.15%Top Rate | 7 yr | $100,000 | 0% | |
| SBLI USA | Select Choice 3 (7) Base Policy + PFW | 5.10% | 7 yr | $100,000 | 10% | |
| SBLI USA | Select Choice® Plus 1 (7) Year Plan Base Policy MVA | 5.05% | 7 yr | $100,000 | 0% | |
| SBLI USA | Select Choice® Plus 3 (7) Year Plan (Base + PFW) MVA | 5.00% | 7 yr | $100,000 | 10% | |
| Athene Annuity & Life Assurance Company of New York | Athene Max Rate 7 MYGA - NY | 4.90% | 7 yr | $100,000 | Interest Only | |
| SBLI USA | Select Choice 2 (7) Base Policy + ROP | 4.80% | 7 yr | $100,000 | 0% | |
| SBLI USA | Select Choice 4 (7) Base Policy + ROP + PFW | 4.70% | 7 yr | $100,000 | 10% | |
| SBLI USA | Select Choice® Plus 2 (7) Year Plan (Base + ROP) MVA | 4.70% | 7 yr | $100,000 | 0% |
10-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| National Integrity Life Insurance | New Momentum 10 | 3.55%Top Rate | 10 yr | $5,000 | 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
- New York offers $500,000 in annuity guaranty protection per person, per insurer — the highest in the U.S., double the $250,000 standard
- New York’s top state income tax rate is 10.9% — making tax-deferred annuity growth especially valuable for high earners
- The New York Department of Financial Services (DFS) is one of the most stringent insurance regulators in the country
- New York law requires a minimum 30-day free-look period for buyers age 60 and older
- Not all national MYGA carriers are licensed in New York — the state’s stringent requirements mean a somewhat smaller carrier pool, but all available carriers are rigorously regulated
Are Fixed Annuities a Good Investment in New York?
In a high-tax state like New York, the tax-deferral benefit of an annuity is at its most powerful. While a CD pays interest that’s taxed annually at New York’s state rate (4%–10.9%), a MYGA compounds free of state and federal tax until you withdraw. For a retiree in the 9.3% New York state bracket, that annual deferral adds up to thousands of dollars over a 5- or 7-year term.
Consider: Margaret, age 65, lives in Westchester County with $250,000 maturing in a CD at 4.10%. If she rolls it into a 5-year MYGA at 5.00%, her account reaches approximately $319,070 at maturity — guaranteed. During those five years, she pays no New York state tax on the $69,070 in growth. In a taxable CD, she’d owe roughly $6,411 in New York state taxes over five years just on the interest. The deferral advantage is real and measurable.
New York’s $500,000 guaranty limit is also a major differentiator. A New York resident with $400,000 in a single annuity contract is fully protected — something impossible for residents of most other states without splitting across carriers.
New York Guaranty Association: How Your Annuity Is Protected
The New York Life Insurance Company and Annuity Guaranty Association (commonly called the New York guaranty association) protects New York policyholders if a licensed insurer becomes insolvent. New York’s $500,000 annuity limit is the highest in the nation — twice the $250,000 offered by most states.
| Coverage Type | New York Protection Limit |
|---|---|
| Annuity present value | $500,000 per person, per insurer |
| Life insurance death benefit | $500,000 per person, per insurer |
| Life insurance cash value | $500,000 per person, per insurer |
| Multiple policies at same insurer | Combined subject to limits above |
For most individual annuity buyers, New York’s $500,000 limit means your entire investment is protected without needing to split across multiple carriers. For portfolios over $500,000, spread across two or more A-rated carriers.
New York Life Insurance Company and Annuity Guaranty Association
Website: nylifega.org
How New York Taxes Annuity Income
New York taxes annuity withdrawals as ordinary income at the state’s standard income tax rates. New York City residents pay an additional city income tax (up to 3.876%), making NYC one of the highest-tax jurisdictions in the country for annuity income. However, New York offers a pension and annuity income exclusion for qualifying retirees that can meaningfully reduce the tax burden.
| Annuity Type | New York Tax Treatment | State Rate |
|---|---|---|
| Non-qualified (after-tax funds) | Only gains taxed; principal excluded via exclusion ratio | 4% – 10.9% |
| Qualified (IRA / 401(k) rollover) | 100% of each distribution is taxable state income; exclusion may apply | 4% – 10.9% |
| Pension/annuity exclusion (age 59½+) | Up to $20,000 of pension/annuity income excluded from New York state tax | 0% on first $20,000 |
| NYC residents | Additional city income tax of up to 3.876% on top of state rate | +3.876% |
New York’s $20,000 pension and annuity exclusion: New York residents age 59½ and older can exclude up to $20,000 of pension and annuity income per year from their New York state income tax return. For a retiree in the 6.85% bracket, that’s up to $1,370 saved annually. Married couples filing jointly can each claim the exclusion — potentially $40,000 combined.
New York Department of Financial Services (DFS)
The New York Department of Financial Services (DFS) is widely considered the most powerful state insurance regulator in the country. DFS licenses and examines all carriers and agents operating in New York, and its rules often set the standard for the rest of the nation. Many carriers that are licensed elsewhere choose not to seek New York licensure due to DFS’s stringent requirements — which means fewer carriers available in NY, but stronger consumer protection for those that are.
| Contact | Details |
|---|---|
| Agency | New York Department of Financial Services (DFS) |
| Consumer helpline | 1-800-342-3736 |
| Website | dfs.ny.gov |
| License verification | DFS license lookup |
Tips for Buying an Annuity in New York
- The carrier pool is smaller in New York: Not all national MYGA carriers are licensed in NY. This narrows your options slightly but all available carriers have met DFS’s strict standards. Compare what’s available through an independent broker.
- Use the 30-day free-look period (age 60+): New York gives buyers age 60 and older 30 days to review the contract and cancel for a full refund. Use every day of it.
- Claim the $20,000 state tax exclusion: If you’re 59½ or older, you can exclude up to $20,000 of annuity income from your New York state return each year. Married couples can exclude $40,000 combined.
- NYC residents: factor in city tax: If you live in New York City, your annuity income faces an additional city tax of up to 3.876% on top of state rates. Consider whether relocating outside NYC before taking distributions could reduce your tax bill.
- The $500,000 guaranty limit is a real advantage: For buyers with $400,000–$500,000 in a single annuity, New York’s coverage means you don’t need to split across carriers — a convenience most states can’t offer.
Frequently Asked Questions
How much does the New York Guaranty Association cover?
New York’s guaranty association covers up to $500,000 in annuity present value per person, per insurance company — the highest in the nation. Connecticut and Washington also offer $500,000. Most states cap annuity protection at $250,000.
Does New York tax annuity income?
Yes, at state rates of 4%–10.9%. However, New York residents age 59½ and older can exclude up to $20,000 of pension and annuity income per year from their state return. NYC residents also owe city income tax of up to 3.876% on top of the state rate.
What is the free-look period for annuities in New York?
New York requires a 30-day free-look period for buyers age 60 and older. During this window you can return the annuity contract for a full refund of your premium. For buyers under 60, the minimum is 10 days.
Why are fewer annuity carriers available in New York?
New York’s Department of Financial Services has significantly more stringent requirements than most other states. Many national carriers choose not to seek New York licensure because of these requirements. The carriers that are licensed in NY have met some of the toughest insurance standards in the country — which is good for consumer protection, but limits your rate comparison pool.
What is the best annuity rate in New York today?
The best MYGA rates available to New York residents from A-rated carriers range from approximately 4.50%–5.25% depending on the term as of early 2026. New York rates may be slightly lower than other states due to the smaller licensed carrier pool. See the live table above for current figures.
Who regulates annuities in New York?
The New York Department of Financial Services (DFS) licenses and regulates all insurance carriers and agents in New York. DFS is considered one of the most rigorous state insurance regulators in the country. Verify licenses and file complaints at dfs.ny.gov or call 1-800-342-3736.
Can I do a 1035 exchange into a new annuity in New York?
Yes. New York follows federal 1035 exchange rules, allowing you to transfer funds from an existing annuity to a new one without triggering immediate taxes. New York does not impose any state-level penalty on a valid 1035 exchange. The receiving carrier must be licensed in New York.