Wisconsin retirees benefit from a tax system that leaves Social Security entirely untaxed and keeps annuity income rates well below what neighboring states charge. The Milwaukee metro, Madison, Green Bay, and the Door County peninsula draw retirees who want Midwest roots with manageable tax exposure. For anyone building a retirement income plan around guaranteed fixed rates, understanding how annuities work is the right starting point before shopping carriers.
Below are today’s best MYGA rates available to Wisconsin residents, filtered to A-rated carriers only, updated daily.
2-Year MYGA Rates
| Carrier | Product | AM Best | Rate | Term | Min Premium | Free Withdrawal |
|---|---|---|---|---|---|---|
| Oceanview Life and Annuity | Harbourview 2 | 4.80%Top Rate | 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% | |
| 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% | |
| Athene IA | Athene Max Rate 3 | 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 | |
| North American Company | NAC Guarantee Plus 3 | 4.80% | 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% | |
| Knighthead Life | Staysail 5 With Liquidity (Simple Interest) SI | 5.75% | 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% | |
| Royal Neighbors of America | MYGA 5 Year | 5.20% | 5 yr | $100,000 | Interest Only | |
| American National Insurance Company | Palladium MYG Annuity 5 | 5.15% | 5 yr | $250,000 | 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% | |
| 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% | |
| 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% | |
| American National Insurance Company | Palladium MYG Annuity 7 | 5.25% | 7 yr | $250,000 | 10% |
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% | |
| 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% | |
| Lincoln Financial | Lincoln MYGuarantee Plus 10 | 4.95% | 10 yr | $100,000 | 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
- Wisconsin does not tax Social Security benefits — a meaningful advantage for retirees combining annuity income with Social Security
- Wisconsin’s income tax tops out at 7.65% on income over $304,170 (single) — with most retirees in the 5.30% bracket
- The Wisconsin Life and Health Insurance Guaranty Association protects up to $300,000 in annuity present value per person, per insurer
- Wisconsin law requires a minimum 10-day free-look period for annuity contracts
- Wisconsin has no state estate tax and no inheritance tax
Are Fixed Annuities a Good Investment in Wisconsin?
Wisconsin’s graduated income tax tops at 7.65% — high enough that the deferral benefit of a MYGA is genuinely meaningful. On a $200,000 MYGA earning 5.00%, the first-year interest is $10,000. A Wisconsin resident in the 5.30% bracket owes $530 in state taxes on that $10,000 in a taxable account — every year. Inside a MYGA, that $530 stays compounding. Over a 5-year term at the top bracket, the cumulative deferred Wisconsin state tax is approximately $3,825 on $50,000 of interest — money that stays inside the contract.
Here is a concrete example: Sandra, age 66, lives in Madison with $220,000 to protect. She puts it in a 5-year MYGA at 5.10%. At maturity, her account grows to approximately $282,370 — a $62,370 gain. Wisconsin taxes that gain when she withdraws at ordinary rates. During the five accumulation years, she owed zero Wisconsin income tax on the annuity growth. In a taxable CD at the same rate, she would have owed approximately $583–$847 per year depending on her bracket — roughly $2,915–$4,235 total over five years. The MYGA deferred all of it.
Wisconsin does not tax Social Security benefits — which matters for retirees structuring total income. Using a MYGA to keep taxable income below certain thresholds can also protect the full exclusion of Social Security from Wisconsin tax.
Wisconsin Guaranty Association: How Your Annuity Is Protected
The Wisconsin Life and Health Insurance Guaranty Association (WLHIGA) protects Wisconsin policyholders if a licensed insurer becomes insolvent. At $300,000, Wisconsin’s annuity coverage is above the national $250,000 standard.
| Coverage Type | Wisconsin Protection Limit |
|---|---|
| Annuity present value | $300,000 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 $300,000, split across two or more A-rated carriers to keep each position within coverage limits.
Wisconsin Life and Health Insurance Guaranty Association
Website: wilifega.org
How Wisconsin Taxes Annuity Income
Wisconsin taxes annuity income as ordinary income under a graduated rate structure from 3.54% to 7.65%. Wisconsin does not tax Social Security benefits, and certain retirement income subtractions may reduce taxable income for qualifying recipients of pensions or military retirement pay.
| Wisconsin Taxable Income (Single) | Wisconsin Rate |
|---|---|
| $0 – $13,810 | 3.54% |
| $13,811 – $27,630 | 4.65% |
| $27,631 – $304,170 | 5.30% |
| Over $304,170 | 7.65% |
Most Wisconsin retirees drawing $40,000–$100,000 from annuities will land in the 5.30% bracket. Wisconsin has no estate tax and no inheritance tax — annuity death benefits pass to named beneficiaries free of Wisconsin-level estate taxation.
Wisconsin Office of the Commissioner of Insurance
The Wisconsin Office of the Commissioner of Insurance (OCI) licenses and regulates all insurance carriers and agents operating in Wisconsin. Verify both the carrier and your agent through OCI before purchasing an annuity. Consumer complaints are filed through OCI’s consumer services line.
| Contact | Details |
|---|---|
| Agency | Wisconsin Office of the Commissioner of Insurance |
| Consumer services | 608-266-3585 |
| Toll-free | 1-800-236-8517 |
| Website | oci.wi.gov |
| License verification | Wisconsin license lookup |
Tips for Buying an Annuity in Wisconsin
- Social Security is not taxed in Wisconsin: Wisconsin fully exempts Social Security benefits from state income tax. When structuring retirement income, a MYGA combined with Social Security can be highly tax-efficient — Social Security is tax-free at the state level and the annuity defers state taxes during accumulation.
- Most retirees are in the 5.30% bracket: The 7.65% top rate only applies to income over $304,170. Most retirees drawing $40,000–$100,000 from annuities and other sources will be in the 5.30% bracket — still worth deferring, but not as urgent as in higher-rate states.
- $300,000 guaranty limit gives extra room: Wisconsin’s above-average coverage means you can hold slightly more with a single A-rated carrier. Split above $300,000.
- No estate tax means clean beneficiary planning: Name beneficiaries on your annuity contracts to bypass probate and pass death benefits free of Wisconsin estate taxation.
- Work with an independent broker: Milwaukee, Madison, and Green Bay have active independent broker communities. Independent brokers compare 20+ carriers for your best rate.
- Use the free-look period: Wisconsin requires at least 10 days to review and cancel any annuity contract for a full premium refund.
Frequently Asked Questions
Does Wisconsin tax annuity income?
Yes, at graduated rates from 3.54% to 7.65%. Most retirees with moderate income will be in the 5.30% bracket. Wisconsin does not tax Social Security benefits, which is a meaningful advantage for retirees combining Social Security with annuity withdrawals.
What is the best annuity rate in Wisconsin today?
The best MYGA rates available to Wisconsin 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 Wisconsin Guaranty Association cover?
The Wisconsin Life and Health Insurance Guaranty Association protects up to $300,000 in annuity present value per person, per insurance company — above the $250,000 standard in most states. For investments over $300,000, spread across multiple A-rated carriers.
Does Wisconsin tax Social Security benefits?
No. Wisconsin fully exempts Social Security benefits from state income tax. This makes Wisconsin more favorable than many states for retirees combining Social Security income with annuity withdrawals.
Does Wisconsin have an estate or inheritance tax?
No. Wisconsin has neither a state estate tax nor an inheritance tax. Annuity death benefits paid to named beneficiaries pass free of Wisconsin-level estate taxation and bypass probate.
What is the free-look period for annuities in Wisconsin?
Wisconsin 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 Wisconsin?
The Wisconsin Office of the Commissioner of Insurance (OCI) licenses and regulates all carriers and agents. Verify licenses at oci.wi.gov or call 1-800-236-8517.