Oregon has some of the highest state income tax rates in the country, topping out at 9.9%, which makes the tax-deferral advantage of a MYGA or fixed annuity more valuable here than in most states. Portland, Eugene, Bend, and the Willamette Valley draw retirees who want to stay in the Pacific Northwest, and understanding how to minimize Oregon’s tax bite on retirement income is essential planning for annuity buyers. Start with learning how annuities work before comparing available rates.
Below are today’s best MYGA rates available to Oregon residents, filtered to carriers rated A- or better, updated daily.
2-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oceanview Life and Annuity | Harbourview 2 | 5.15%Top Rate | 2 yr | $70,000 | 10% | |
| Axonic Insurance | Waypoint 2 MYGA | 5.10% | 2 yr | $100,000 | 10% | |
| Aspida | Synergy Choice 2 | 4.80% | 2 yr | $100,000 | 0% | |
| Mass Mutual | Premier Voyage 2 | 4.70% | 2 yr | $1,000,000 | 10% | |
| Americo | Platinum Assure 2 | 4.15% | 2 yr | $25,000 | 3% |
3-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Ibexis | MYGA Plus 3 (Simple Interest) SI | 6.15%Top Rate | 3 yr | $100,000 | 10% | |
| American National Insurance Company | Palladium MYG MAX 3 | 5.90% | 3 yr | $250,000 | 0% | |
| Knighthead Life | Staysail 3 (Simple Interest) SI | 5.85% | 3 yr | $100,000 | 0% | |
| American National Insurance Company | Palladium MYG Annuity 3 | 5.75% | 3 yr | $250,000 | 10% | |
| Athene IA | Athene Max Rate 3 (state specific) | 5.75% | 3 yr | $100,000 | Interest Only | |
| American National Insurance Company | Palladium Match MYG Annuity 3 | 5.70% | 3 yr | $250,000 | 10% | |
| Aspida | Synergy Choice 3 | 5.70% | 3 yr | $100,000 | 0% | |
| Axonic Insurance | Waypoint 3 MYGA | 5.65% | 3 yr | $100,000 | 10% |
4-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oxford Life Insurance Company | Multi-Select 4 | 5.75%Top Rate | 4 yr | $20,000 | 10% | |
| Americo | Platinum Assure 4 | 5.70% | 4 yr | $25,000 | 5% | |
| Oceanview Life and Annuity | Harbourview 4 | 5.70% | 4 yr | $70,000 | 10% | |
| Clear Spring Life | Preserve MYGA 4 | 5.60% | 4 yr | $100,000 | 10% | |
| Mass Mutual | Premier Voyage 4 | 5.55% | 4 yr | $1,000,000 | 10% | |
| Guardian Insurance & Annuity Co. | Guardian Fixed Target Annuity 4 | 5.50% | 4 yr | $100,000 | 10% | |
| Nationwide Life Insurance Company | Secure Growth 4 MVA | 5.50% | 4 yr | $100,000 | 10% | |
| Mass Mutual | Stable Voyage 4 | 5.45% | 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 | 6.65%Top Rate | 5 yr | $100,000 | 0% | |
| Ibexis | MYGA Plus 5 (Simple Interest) SI | 6.60% | 5 yr | $100,000 | 10% | |
| Aspida | Synergy Choice 5 | 6.30% | 5 yr | $100,000 | 0% | |
| Axonic Insurance | Waypoint 5 MYGA | 6.10% | 5 yr | $100,000 | 10% | |
| Athene IA | Athene Max Rate 5 (state specific) | 6.00% | 5 yr | $100,000 | Interest Only | |
| Global Atlantic Financial Group | SecureFore II 5 | 6.00% | 5 yr | $100,000 | 10% | |
| Knighthead Life | Staysail 5 With Liquidity (Simple Interest) SI | 6.00% | 5 yr | $100,000 | 10% | |
| Nationwide Life Insurance Company | Secure Growth 5 MVA | 6.00% | 5 yr | $100,000 | 10% |
6-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oceanview Life and Annuity | Harbourview 6 | 6.10%Top Rate | 6 yr | $70,000 | 10% | |
| Oxford Life Insurance Company | Multi-Select 6 | 5.95% | 6 yr | $20,000 | 10% | |
| Americo | Platinum Assure 6 | 5.90% | 6 yr | $25,000 | 5% | |
| Guardian Insurance & Annuity Co. | Guardian Fixed Target Annuity 6 | 5.80% | 6 yr | $100,000 | 10% | |
| Mass Mutual | Premier Voyage 6 | 5.75% | 6 yr | $1,000,000 | 10% | |
| Clear Spring Life | Preserve MYGA 6 | 5.70% | 6 yr | $100,000 | 10% | |
| American General Life Insurance Company | American Pathway VisionMYG 6 | 5.40% | 6 yr | $100,000 | 15% | |
| Corebridge Financial | American Pathway VisionMYG 6 | 5.40% | 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 | 7.10%Top Rate | 7 yr | $100,000 | 0% | |
| Ibexis | MYGA Plus 7 (Simple Interest) SI | 6.85% | 7 yr | $100,000 | 10% | |
| Aspida | Synergy Choice 7 | 6.35% | 7 yr | $100,000 | 0% | |
| Athene IA | Athene Max Rate 7 (state specific) | 6.10% | 7 yr | $100,000 | Interest Only | |
| Knighthead Life | Staysail 7 With Liquidity (Simple Interest) SI | 6.05% | 7 yr | $100,000 | 10% | |
| Americo | Platinum Assure 7 | 6.00% | 7 yr | $25,000 | 5% | |
| Global Atlantic Financial Group | SecureFore II 7 | 6.00% | 7 yr | $100,000 | 10% | |
| AuguStar | LunarGuard 7 MVA | 5.95% | 7 yr | $100,000 | 5% |
8-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oxford Life Insurance Company | Multi-Select 8 | 5.90%Top Rate | 8 yr | $20,000 | 10% | |
| Clear Spring Life | Preserve MYGA 8 | 5.70% | 8 yr | $100,000 | 10% | |
| Pacific Guardian Life | Diamond Head 8 | 5.40% | 8 yr | $10,000 | 10% | |
| American National Insurance Company | Palladium MYG Annuity 8 | 5.30% | 8 yr | $250,000 | 10% | |
| Guaranty Income Life | Guaranty Rate Lock 8 | 3.90% | 8 yr | $250,000 | 5% |
9-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oxford Life Insurance Company | Multi-Select 9 | 5.95%Top Rate | 9 yr | $20,000 | 10% | |
| Capitol Life Insurance Company | Heritage Elite 9 | 5.75% | 9 yr | $10,000 | 0% | |
| Liberty Bankers Life | Heritage Elite 9 | 5.75% | 9 yr | $10,000 | 0% | |
| Capitol Life Insurance Company | Heritage Premier 9 | 5.70% | 9 yr | $10,000 | Interest Only | |
| Clear Spring Life | Preserve MYGA 9 | 5.70% | 9 yr | $100,000 | 10% | |
| Liberty Bankers Life | Heritage Premier 9 | 5.70% | 9 yr | $10,000 | Interest Only | |
| Capitol Life Insurance Company | Heritage Classic 9 | 5.65% | 9 yr | $10,000 | 10% | |
| Liberty Bankers Life | Heritage Classic 9 | 5.65% | 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 | 6.20%Top Rate | 10 yr | $70,000 | 10% | |
| Lincoln Financial | Lincoln MYGuarantee Plus 10 | 6.00% | 10 yr | $100,000 | 10% | |
| Oxford Life Insurance Company | Multi-Select 10 | 5.95% | 10 yr | $20,000 | 10% | |
| Reliance Standard Life | Reliance Guarantee - 10 | 5.90% | 10 yr | $20,000 | 10% | |
| Delaware Life | Pinnacle Plus MYGA 10 | 5.85% | 10 yr | $100,000 | 10% | |
| Royal Neighbors of America | MYGA 10 Year | 5.80% | 10 yr | $100,000 | Interest Only | |
| American General Life Insurance Company | American Pathway VisionMYG 10 | 5.75% | 10 yr | $100,000 | 15% | |
| Assurity Life | SecurePath 10 | 5.75% | 10 yr | $2,000 | 12% |
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
- Oregon’s top income tax rate is 9.9%, among the highest in the country, making tax-deferred annuity growth exceptionally valuable during accumulation
- The Oregon Life and Health Insurance Guaranty Association protects up to $250,000 in annuity present value per person, per insurer
- Oregon law requires a minimum 10-day free-look period for annuity contracts
- Oregon does not have a state sales tax, but does have an estate tax with a $1 million exemption, the lowest estate tax threshold of any state in the country
- Oregon residents age 62+ may qualify for a $15,000 federal pension deduction that also applies at the state level for qualifying retirement income
Are Fixed Annuities a Good Investment in Oregon?
In Oregon, tax-deferred growth isn’t just a nice feature, it’s a genuine financial necessity for anyone in the upper income brackets. At Oregon’s 9.9% top rate, $10,000 of annuity interest held inside a MYGA saves $990 in Oregon taxes compared to the same $10,000 earned in a taxable CD. On a $200,000 MYGA earning 5.00% over 5 years, the annual deferral advantage accumulates to roughly $4,950 in deferred Oregon state taxes, money that stays compounding inside your contract.
Here’s a concrete example: Patricia, age 64, lives in Portland with $180,000 to protect. She puts it into a 5-year MYGA at 5.10%. Her account grows to approximately $230,858 at maturity, a $50,858 gain. Oregon taxes that gain when she withdraws, but during the accumulation phase, zero state tax was owed each year. If she’d placed the same money in a 5-year CD at 5.00%, she’d have paid Oregon income tax on interest every year, at 9%, totaling approximately $4,134 in annual taxes over five years, or roughly $20,670 total. The MYGA deferred all of that.
Oregon’s $1 million estate tax exemption, the lowest in the country, means Oregon residents with moderate estates need to plan carefully. Annuity beneficiary designations are an important tool in Oregon estate planning.
Oregon Guaranty Association: How Your Annuity Is Protected
The Oregon Life and Health Insurance Guaranty Association (OLHIGA) protects Oregon policyholders if a licensed insurer becomes insolvent. Coverage is automatic, no enrollment and no extra cost required.
| Coverage Type | Oregon 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 carriers rated A- or better to keep each position within coverage limits.
Oregon Life and Health Insurance Guaranty Association
Website: oregonlifega.org
How Oregon Taxes Annuity Income
Oregon taxes annuity income as ordinary income under a graduated rate structure topping at 9.9%. Oregon does not offer a blanket retirement income exemption, though a federal pension deduction may reduce Oregon taxes for qualifying recipients of federal retirement income. Oregon also has no state sales tax, which indirectly benefits retirees in other ways.
| Oregon Taxable Income (Single) | Oregon Rate |
|---|---|
| $0 – $18,400 | 4.75% |
| $18,401 – $46,200 | 6.75% |
| $46,201 – $250,000 | 8.75% |
| Over $250,000 | 9.9% |
Oregon’s estate tax: Oregon has a state estate tax with a $1 million exemption, the lowest threshold of any state in the U.S. Rates range from 10% to 16% on amounts above $1 million. For an Oregon retiree with a home, retirement accounts, and an annuity, the $1 million threshold can be reached more easily than most people expect. Annuity death benefits pass to named beneficiaries outside of probate, which can be an important estate planning tool.
Oregon Insurance Division
The Oregon Insurance Division (part of the Department of Consumer and Business Services) licenses and regulates all insurance carriers and agents operating in Oregon. Before purchasing an annuity, verify the carrier’s license and your agent’s license through the Division’s online lookup.
| Contact | Details |
|---|---|
| Agency | Oregon Insurance Division (DCBS) |
| Consumer hotline | 503-947-7984 |
| Toll-free | 1-888-877-4894 |
| Website | dfr.oregon.gov/insure |
| License verification | Oregon license search |
Tips for Buying an Annuity in Oregon
- Tax deferral is extremely valuable at Oregon rates: Oregon’s 8.75%–9.9% rates mean every year of deferred annuity growth saves you nearly $875–$990 per $10,000 in annual earnings. Maximize accumulation periods when you can afford to defer income.
- Plan around the $1M estate tax threshold: Oregon’s estate tax kicks in at $1 million, much lower than most people assume. If your total estate (home + retirement accounts + annuity + other assets) approaches $1 million, consult an Oregon estate planning attorney. Annuity death benefits paid to named beneficiaries bypass probate.
- Work with an independent broker: Oregon has a strong independent broker market, especially in Portland and the Willamette Valley. Independent brokers compare 20+ carriers for your best available rate.
- Don’t exceed $250,000 per carrier: For portfolios over $250,000, use two or more carriers rated A- or better to maximize guaranty protection.
- Use the free-look period: Oregon requires at least 10 days to review and cancel your annuity contract for a full premium refund.
Frequently Asked Questions
Does Oregon tax annuity income?
Yes, at graduated rates from 4.75% to 9.9%. Oregon does not offer a blanket retirement income exemption. Most annuity withdrawals are taxed at ordinary Oregon income tax rates, making tax deferral during accumulation especially valuable for Oregon residents.
What is the best annuity rate in Oregon today?
The best MYGA rates available to Oregon residents from carriers rated A- or better currently top out at 7.10%, depending on the term. See the live rate table above for current figures updated daily from AnnuityRateWatch.
How much does the Oregon Guaranty Association cover?
The Oregon 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 carriers rated A- or better.
Does Oregon have an estate tax?
Yes, and it’s the most aggressive in the country. Oregon’s estate tax starts at $1 million (the lowest threshold of any state), with rates of 10%–16% above that. Oregon residents with total estates over $1 million, which can include a home, retirement accounts, and an annuity, need estate planning. Annuity death benefits paid to named beneficiaries bypass probate, which can be a useful planning tool.
What is the free-look period for annuities in Oregon?
Oregon requires a minimum 10-day free-look period for annuity contracts. You can return the contract for a full refund of premium within that window.
Who regulates annuities in Oregon?
The Oregon Insurance Division (part of the Department of Consumer and Business Services) licenses and regulates all carriers and agents. Verify licenses at dfr.oregon.gov/insure or call 1-888-877-4894.
Why is tax deferral so important for Oregon annuity buyers?
At Oregon’s 8.75%–9.9% state income tax rates, deferring growth inside an annuity saves approximately $875–$990 in state taxes per $10,000 of annual interest earnings compared to a taxable account. Over a 5-year MYGA on $200,000 at 5.00%, the cumulative deferred state tax advantage is roughly $4,375–$4,950, money that stays compounding inside your contract.
