Today's top 7-year MYGA rates
| Carrier | Product | AM Best | APY |
|---|---|---|---|
| MassMutual Ascend | Secure 7 | A+ | 6.15% |
| Athene | MaxRate 7 | A+ | 6.00% |
| Global Atlantic | ChoiceAccumulator 7 | A | 5.85% |
Why 7 years often pays the most
Carriers can match 7-year liabilities to higher-yielding intermediate corporate bonds, and the additional surrender protection lets them credit more interest to the contract. A 7-year MYGA typically pays 30–60 basis points more than a 5-year — meaningful compounding over the term.
Surrender protection
7-year MYGAs come with a 7-year surrender schedule, usually starting at 9% in year one and declining annually to 0% at maturity. Most contracts allow 10% annual penalty-free withdrawals from year two onward.
For a shorter commitment, see 5-year MYGA rates. Curious how a 7-year MYGA compares to bonds? Read our annuity vs bond comparison.
Frequently asked questions
- What is the best 7-year MYGA rate today?
- Today's top 7-year MYGA APY from an A-rated carrier is approximately 6.15%. The 7-year term typically offers the highest absolute APY in the MYGA market.
- Is a 7-year MYGA better than a 5-year?
- Usually yes for absolute yield — 7-year MYGAs typically pay 10–30 basis points more than 5-year. The trade-off is two extra years of surrender exposure. If you're certain you won't need the funds, a 7-year is often the highest-yielding fixed instrument available.
- Can I take money out of a 7-year MYGA early?
- Most 7-year MYGAs allow penalty-free withdrawals of up to 10% of the contract value each year starting in year two. Withdrawals above that amount are subject to a declining surrender charge schedule (typically 9% in year one, stepping down to 0% by maturity).
- What's the minimum to open a 7-year MYGA?
- Most A-rated carriers have minimum premiums of $10,000 to $25,000 for a 7-year MYGA. Many offer rate bumps of 5–15 basis points at premiums of $100,000 or more.
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