MYGA’s are Multi-Year Guaranteed Annuities. They are tax-deferred, and are typically purchased with a single premium.
Growth is the focus of this annuity. MYGA’s earn a fixed rate over a multi-year time horizon. The interest rate will be specified upfront and will vary based on:
the amount you’re investing;
your investment horizon;
the insurance company’s credit rating; and
market conditions at the time of purchase