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Bank CD vs. Multi-Year Guaranteed Annuity

Bank CD

Multi-Year Guaranteed Annuity

Multi-Year Guaranteed Annuity

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  • Usually Short-Term Duration (Less than 5 years) 
  • Interest is Taxed even though income is not taken 
  • Interest Rate is Generally lower than MYGA Rates 
  • FDIC Insurance Up to $250,000 
  • Probate is Required to Pass to Beneficiaries (If beneficiary is not selected) 

Multi-Year Guaranteed Annuity

Multi-Year Guaranteed Annuity

Multi-Year Guaranteed Annuity

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  • Typically 2-5 years - (Can be up to 10yrs or longer) 
  • Taxes Deferred Until Money is Withdrawn 
  • Interest Rate is Generally Higher than Bank CD Rates 
  • Legal Reserve System by State Insurance 
  • Value of MYGA will avoid probate (will pass directly to beneficiaries) 

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