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Tag Archive: myga vs bank cd

Why Buy a CD-Like Annuity Instead of a Bank CD?

Carl Ostenson

The “Plain Jane” vanilla ice cream in the annuity world is called a Fixed Rate Annuity…also known as MYGA (Multi Year Guarantee Annuity). She’s really pretty boring….you agree to deposit money at an insurance company for a certain period of years, 2-10+ year contracts are all available. In return, the insurance company agrees to keep your money safe and pay you a fixed rate of interest for that term. At the end of the term, you can take your money and do something else with...

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