MYGA Annuity Rates in South Carolina – October 2026
MYGA Annuity Rates in South Carolina – October 2026
South Carolina retirees and savers looking for predictable interest rates may want to take a closer look at
Multi-Year Guaranteed Annuities (MYGAs).
As of October 2026, several MYGA products available for consideration are offering guaranteed rates above 5%,
with select terms reaching 6.35%, based on the rate information shown below.
A MYGA is a fixed annuity that guarantees an interest rate for a specific number of years. Depending on the
product, terms may range from two years to ten years or longer.
October 2026 MYGA Rates for South Carolina
The following are examples of current MYGA rates and product terms based on carrier information available
through late September and early October 2026.
| Company | Product | Rating | Term | Rate | Minimum Premium |
|---|---|---|---|---|---|
| Oceanview | Harbourview | A | 2 Years | 5.15%* | $70,000 |
| Heartland National | Secure Rate Pro | B++ | 3 Years | 5.80% | $5,000 |
| Farmers Life | Safeguard Plus | B++ | 3 Years | 5.80% | $10,000 |
| Oxford Life | Multi-Select | A | 3 Years | 5.70% | $20,000 |
| Athene | Max Rate | A+ | 3 Years | 5.65%* | $100,000 |
| Axonic | Waypoint | A- | 3 Years | 5.65%* | $100,000 |
| Farmers Life | Safeguard Plus | B++ | 5 Years | 6.15% | $10,000 |
| Heartland National | Secure Rate Pro | B++ | 5 Years | 6.10% | $5,000 |
| Axonic | Waypoint | A- | 5 Years | 6.10%* | $100,000 |
| Oxford Life | Multi-Select | A | 5 Years | 6.00% | $20,000 |
| Sagicor | Milestone Max | A | 5 Years | 5.90%* | $75,000 |
| Oxford Life | Multi-Select | A | 6 Years | 6.35% | $20,000 |
| Oxford Life | Multi-Select | A | 7 Years | 6.20% | $20,000 |
| Heartland National | Secure Rate Pro | B++ | 7 Years | 6.10% | $5,000 |
| Farmers Life | Safeguard Plus | B++ | 7 Years | 6.05% | $10,000 |
| Sagicor | Milestone MAX | A | 7 Years | 6.00%* | $75,000 |
| Athene | Max Rate | A+ | 7 Years | 5.95%* | $100,000 |
| Oxford Life | Multi-Select | A | 10 Years | 6.35% | $20,000 |
| Heartland National | Secure Rate Pro | B++ | 10 Years | 6.15% | $5,000 |
| Farmers Life | Safeguard Plus | B++ | 10 Years | 6.15% | $10,000 |
| Oceanview | Harbourview | A | 10 Years | 5.95%* | $70,000 |
| Reliance Standard | Reliance Guarantee | A++ | 10 Years | 5.90% | $20,000 |
Rates shown are based on information provided as of the effective dates listed by the carriers and may change without notice.
Products may have different premium bands, age limits, surrender periods, withdrawal provisions, and availability requirements.
An asterisk (*) reflects the notation contained in the rate information supplied and should be reviewed with the applicable carrier/product illustration before purchase.
Some of the Higher MYGA Rates Available in October 2026
Among the rates listed above, several stand out for South Carolina consumers seeking guaranteed interest:
- 6.35% – Oxford Life Multi-Select, 6-year term
- 6.35% – Oxford Life Multi-Select, 10-year term
- 6.20% – Oxford Life Multi-Select, 7-year term
- 6.15% – Farmers Life Safeguard Plus, 5-year term
- 6.15% – Heartland National Secure Rate Pro, 10-year term
- 6.15% – Farmers Life Safeguard Plus, 10-year term
- 6.10% – Heartland National Secure Rate Pro, 5-year term
- 6.10% – Axonic Waypoint, 5-year term
The highest rate is not automatically the right choice. The insurance company’s financial strength,
surrender schedule, liquidity provisions, minimum premium, age requirements and length of the guarantee
period should all be considered.
What Is a MYGA?
A Multi-Year Guaranteed Annuity is a type of fixed annuity issued by an insurance company.
The insurer guarantees a stated interest rate for a specified number of years.
For example, if you select a five-year MYGA, the interest rate is generally guaranteed for that five-year
contract period, subject to the specific provisions of the contract.
MYGAs are frequently compared with CDs because both can provide a known interest rate for a specific time period.
However, they are different financial products with different rules, taxation and guarantees.
Why South Carolina Retirees Consider MYGAs
For retirees and pre-retirees in South Carolina, a MYGA may be worth considering when the goal is to protect
a portion of retirement assets from stock-market volatility while earning a guaranteed rate of interest.
Potential features may include:
- Guaranteed interest for the selected contract period
- Protection from direct stock-market losses
- Tax-deferred accumulation
- Multiple term lengths
- Options for qualified and non-qualified money
- Potential withdrawal provisions depending on the contract
Qualified vs. Non-Qualified MYGAs
The MYGA products listed above indicate availability for both qualified (Q) and
non-qualified (NQ) funds, subject to carrier requirements.
Qualified money may include certain retirement accounts such as IRAs. Non-qualified money generally refers
to funds that have already been taxed and are not held inside a qualified retirement account.
The tax treatment can be different, so consumers should discuss their individual situation with an appropriate
tax professional before moving retirement assets.
Should You Choose a 3-Year, 5-Year, 7-Year or 10-Year MYGA?
The answer usually depends on how soon you may need the money.
A shorter term may provide more flexibility to reevaluate rates sooner. A longer term may provide the comfort
of locking in a guaranteed rate for a longer period.
Some retirees also consider a MYGA ladder, where money is divided among multiple maturity dates
rather than placing the entire amount into one contract.
For example, someone with $300,000 might consider dividing the funds among three different maturity periods.
The exact structure should be based on liquidity needs, retirement income goals and the terms of each contract.
MYGA vs. CD in South Carolina
CDs and MYGAs can both offer fixed interest rates, but there are important differences.
Bank CDs may qualify for FDIC insurance within applicable limits. MYGAs are insurance contracts and are not
FDIC insured.
MYGA guarantees are backed by the claims-paying ability and financial strength of the issuing insurance company.
MYGAs may also offer tax-deferred accumulation, while interest from a non-retirement CD is generally taxable
as it is earned.
Financial Strength Ratings Matter
Rates should not be evaluated by themselves.
The October 2026 list includes carriers with ratings ranging from B++ to A++ in the data supplied.
Consumers should review the financial strength of the issuing insurer along with the interest rate and contract terms.
A higher rate from one insurer does not necessarily make it preferable to a lower rate from another insurer.
Each person’s priorities may be different.
MYGA Annuities in Charleston, Greenville, Columbia, Myrtle Beach and Across South Carolina
Mintco Financial works with individuals and families throughout South Carolina, including Charleston,
Greenville, Columbia, Myrtle Beach, Hilton Head, Fort Mill, Rock Hill, Spartanburg and surrounding communities.
If you are considering moving money from a CD, IRA, brokerage account or another annuity, it can be helpful
to compare several insurance companies rather than looking at only one carrier.
Compare MYGA Rates in South Carolina
Want to compare today’s MYGA rates, insurance companies and term options?
Mintco Financial can help you review your choices.
No call centers. Talk directly with an experienced professional.
Important MYGA Considerations
Before purchasing a MYGA, review the complete contract, including surrender charges, withdrawal provisions,
maturity options, renewal provisions, death benefits and any market value adjustment or other applicable provisions.
Rates can change quickly and may vary based on state availability, premium amount, age, tax qualification and
other carrier requirements.
This material is provided for educational purposes only and is not intended as individualized investment,
legal or tax advice. Fixed annuities are insurance products. They are not deposits, are not FDIC insured,
and their guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.
Product availability, rates and terms are subject to change. Consult the actual insurance company contract and
disclosure documents before making a purchase decision.