Quarterly Annuity Update with Kirk Sarff | Q3 2022

Quarterly Annuity Update with Kirk Sarff | Q3 2022
July 5, 2022

Disclaimer: Interest rates change often. This article will be updated on a quarterly basis, but rates may change between those updates. At any time, you can review current annuity rates here, and you can download our 5-Year Annuity Tip Sheet, which is updated regularly, here.


This is one of the most upbeat quarterly annuity updates yet! Fixed annuity rates are increasing across the board, and we have a new annuity carrier with the highest rate we've seen in a while.

Join me for a quick quarterly annuity update.

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MYGAs Are Headed Up

All the MYGAs are universal in increasing their fixed rates right now. It's been a gradual thing, and lo and behold, several have gone over the magic 4% for a 5-year MYGA.

The main attraction this quarter is the new, A- rated carrier we've taken on called Guggenheim. Their 3-year MYGA is at 4%, which is really fantastic. It has built-in free withdrawal privileges in the contract, which is also very nice.

When I see a 3-year at 4%, that tells me the company feels this is a good, solid rate for them to handle for the next 3 years.

On 5-year MYGAs, we have Sentinel, ACL, and LBL at 4.05% and Guggenheim at 4.10%. And with Guggenheim, if you have more than $250k in there, you get 4.20%. That's hard to beat, and you get good compensation on those, too.

I don't know that these rates will move again, but it wouldn't shock me if they did. The overall MYGA landscape is very positive right now, and I think these nice, fixed rates will be here for a while. 

You can download our 5-year tip sheet to see all of our 5-year MYGA rates in one place:

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Increasing MYGA Rates, Yet Turbulent Stock Market

The stock market right now is very turbulent, which has some agents wondering why fixed rates are steadily increasing.

We won't get too into the weeds here, but the increasing rates has to do with the bond market. The bottom line is your clients are poised to get some fantastic, guaranteed rates during a time where the stock market can be very unsettling.

FIAs and Fixed Accounts

Our FIAs are still really dominating. Even though the market is turbulent right now, their allocations of the fixed account are very, very attractive.

Last week, a company called EquiTrust announced their fixed account is at 4%, and that's locked in for the year. You could put your allocation in the fixed account and get that guaranteed 4% for a year. Then, you could change your allocations to some of the index crediting strategies if the market is looking a little positive.

MYGAs are definitely going up, but a lot of the fixed accounts on FIAs are doing the same thing.

Clients can still get the peace of mind of a guaranteed rate, but they can also put some of their money in other index crediting strategies, which could come with double-digit returns.

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Future Outlooks

Based on what I'm seeing, I do think the MYGA space will inch up a little more. We're in a competitive situation now where everyone wants to get after it a little bit. I don't have the crystal ball, but I would not be surprised if we see some more increases.

However, once a company gets their allotment of premium, they can back those rates off, and it shuts off the intake.

My alert to downline agents right now is that we're on it. We send out new tip sheets, and when a company changes, we want you to know right away. There's a lot of movement going on right now, and we're committed to keeping our rates updated everywhere.

Rates are going up as we put this article out – it's just a good time for fixed annuity sales!

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