Utah has one of the fastest-growing retirement populations in the country — Salt Lake City, St. George, Park City, and the Wasatch Front attract retirees who want mountain living with a clean, simple tax structure. Utah’s flat 4.65% income tax applies uniformly, and the state has no estate tax. For buyers focused on guaranteed rates, understanding how annuities work is a smart first step before comparing today’s carrier offerings.
Below are today’s best MYGA rates available to Utah 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% | |
| 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 | |
| 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 |
|---|---|---|---|---|---|---|
| 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% | |
| 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% | |
| Royal Neighbors of America | MYGA 5 Year | 5.20% | 5 yr | $100,000 | Interest Only |
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% | |
| 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 | |
| Aspida | Synergy Choice 7 | 5.30% | 7 yr | $100,000 | 0% |
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
- Utah has a flat 4.65% income tax rate — simple, predictable, and applies uniformly to all taxable income including annuity withdrawals
- Utah offers a retirement income tax credit for qualifying lower-income seniors that can offset some or all state taxes on retirement income
- The Utah Life and Health Insurance Guaranty Association protects up to $250,000 in annuity present value per person, per insurer
- Utah law requires a minimum 10-day free-look period for annuity contracts
- Utah has no state estate tax and no inheritance tax
Are Fixed Annuities a Good Investment in Utah?
Utah’s flat 4.65% rate makes the after-tax math on a MYGA straightforward. At 4.65%, the annual state tax on $10,000 of annuity interest in a taxable account is $465. Inside a MYGA, that $465 stays compounding each year. Over a 5-year term on a $200,000 contract at 5.00%, the cumulative deferred Utah state tax on $50,000 of interest is approximately $2,325 — money that stays working inside the contract rather than going to Salt Lake City each April.
Here is a concrete example: David, age 66, lives in St. George with $210,000 to protect. He places it in a 5-year MYGA at 5.10%. His account grows to approximately $269,532 — a $59,532 gain. Utah taxes that gain when he withdraws at the flat 4.65% rate. During accumulation, he owed zero Utah income tax on the growth. A comparable taxable CD would have generated approximately $489–$558 per year in Utah taxes, totaling roughly $2,445–$2,790 over five years. The MYGA deferred all of that.
Utah’s retirement tax credit provides additional relief for qualifying lower-income seniors. The credit phases out at higher income levels, but for retirees with moderate total income, it can effectively reduce or eliminate Utah taxes on retirement income including annuity withdrawals.
Utah Guaranty Association: How Your Annuity Is Protected
The Utah Life and Health Insurance Guaranty Association (ULHIGA) protects Utah policyholders if a licensed insurer becomes insolvent. Coverage is automatic — no enrollment required.
| Coverage Type | Utah 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.
Utah Life and Health Insurance Guaranty Association
Website: utahlifega.org
How Utah Taxes Annuity Income
Utah taxes all taxable income — including annuity withdrawals — at a flat 4.65%. There are no graduated brackets. Utah partially taxes Social Security benefits using the same rules as the federal government, and offers a retirement income tax credit for lower-income seniors that can offset some or all Utah income taxes on qualifying retirement income.
| Annuity Type | Utah Tax Treatment | Rate |
|---|---|---|
| Non-qualified (after-tax funds) | Only gains taxed; principal excluded via exclusion ratio | 4.65% flat |
| Qualified (IRA / 401(k) rollover) | 100% taxable; retirement tax credit may reduce liability for qualifying seniors | 4.65% flat |
| Social Security | Taxed under federal rules; retirement credit may offset for lower-income seniors | 4.65% on taxable portion |
| 1035 Exchange | No Utah tax triggered on the exchange itself | N/A |
Utah has no state estate tax and no inheritance tax. Annuity death benefits pass to named beneficiaries free of Utah estate-level taxation and bypass probate.
Utah Insurance Department
The Utah Insurance Department (UID) licenses and regulates all insurance carriers and agents operating in Utah. Verify both the carrier and your agent before purchasing an annuity.
| Contact | Details |
|---|---|
| Agency | Utah Insurance Department (UID) |
| Consumer services | 801-538-3800 |
| Toll-free | 1-800-439-3805 |
| Website | insurance.utah.gov |
| License verification | Utah license lookup |
Tips for Buying an Annuity in Utah
- Flat rate makes planning simple: There is no bracket management in Utah — every dollar of taxable annuity income faces 4.65%. Your after-tax MYGA return is your contract rate minus your federal bracket minus 4.65%. Clean and predictable.
- Check eligibility for the retirement tax credit: Utah offers a retirement income tax credit for seniors with lower to moderate total income. If your total retirement income (including annuity withdrawals) falls within qualifying ranges, the credit can offset some or all of your Utah income tax. Consult a Utah tax professional to see if you qualify.
- St. George and southern Utah are fast-growing: The St. George area is one of the fastest-growing retirement markets in the country. Local independent brokers there specialize in retirement income planning.
- 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: Salt Lake City, St. George, and Provo have strong independent broker markets. Independent brokers compare 20+ carriers for your best available rate.
- Use the free-look period: Utah requires at least 10 days to review and cancel any annuity contract for a full premium refund.
Frequently Asked Questions
Does Utah tax annuity income?
Yes, at a flat 4.65% on all taxable income. There are no graduated brackets. Utah does offer a retirement income tax credit for qualifying lower-income seniors that can offset some or all Utah income taxes on qualifying retirement income.
What is the best annuity rate in Utah today?
The best MYGA rates available to Utah 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 Utah Guaranty Association cover?
The Utah 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 Utah tax Social Security benefits?
Yes, under the same rules as the federal government — up to 85% of Social Security may be subject to Utah income tax at the flat 4.65% rate depending on total income. Utah’s retirement tax credit may offset some of this liability for lower-income seniors.
Does Utah have an estate or inheritance tax?
No. Utah has neither a state estate tax nor an inheritance tax. Annuity death benefits paid to named beneficiaries pass free of Utah estate-level taxation and bypass probate.
What is the free-look period for annuities in Utah?
Utah 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 Utah?
The Utah Insurance Department (UID). Verify licenses at insurance.utah.gov or call 1-800-439-3805.