MYGA Rates in Virginia for October 2026
MYGA Rates in Virginia for October 2026
Virginia retirees and pre-retirees who want a more predictable return on part of their savings
may be looking at Multi-Year Guaranteed Annuities, commonly called MYGAs.
MYGAs are fixed annuity contracts that provide a stated interest rate for a specific guarantee period.
Based on the October 2026 rate information used for this page, rates shown range from
5.15% to 6.35%, depending on the carrier, contract term,
deposit amount, age, and product eligibility.
Virginia MYGA Rates at a Glance
The highest rate shown in this October 2026 comparison is 6.35%.
Several 5-, 7-, and 10-year options are also listed at 6% or higher.
MYGA rates can change quickly.
Contact Mintco Financial to confirm the latest rate currently available
and to compare which term, insurance company, and contract features may best fit your needs.
October 2026 MYGA Rate Comparison for Virginia
The following table shows examples from the MYGA rate information provided for this article.
Actual availability should be confirmed before applying.
| Carrier | Product | Rating | Guarantee Period | 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 carrier information supplied for late September and early October 2026.
Rates, minimum premiums, age limits, contract provisions and product availability may change without notice.
An asterisk (*) reflects the notation contained in the supplied rate information.
What Is the Highest MYGA Rate Shown for Virginia?
The highest rate shown in this October 2026 comparison is 6.35%.
Oxford Life Multi-Select is listed at that rate for both a
6-year and a 10-year guarantee period.
The highest rate is not necessarily the most suitable choice.
Someone who needs more flexibility may prefer a shorter contract even if the stated rate is lower.
What Are the 5-Year MYGA Rates in Virginia?
For consumers interested in a 5-year guarantee period, the supplied October 2026 list includes:
- 6.15% – Farmers Life Safeguard Plus
- 6.10% – Heartland National Secure Rate Pro
- 6.10%* – Axonic Waypoint
- 6.00% – Oxford Life Multi-Select
- 5.90%* – Sagicor Milestone Max
Why Might a Virginia Retiree Consider a MYGA?
Some retirees want to separate part of their savings from daily market fluctuations
while still earning a known rate of interest.
A MYGA may be considered when a consumer wants:
- A guaranteed rate for a specified number of years
- No direct participation in stock-market losses
- Tax-deferred accumulation
- A choice of several guarantee periods
- Potential use with qualified or non-qualified money
- A conservative option for a portion of retirement assets
How Is a MYGA Different From a CD?
A MYGA and a bank CD can both provide a fixed interest rate,
but the products are structured differently.
A CD is issued by a bank and may qualify for FDIC protection within applicable limits.
A MYGA is issued by an insurance company and is not FDIC insured.
Its guarantees rely on the financial strength and claims-paying ability of the issuing carrier.
There may also be differences in taxation, withdrawal provisions,
surrender charges and what happens when the guarantee period ends.
Can a MYGA Be Used for IRA Funds?
Many MYGA contracts can accept qualified retirement funds,
including certain IRA assets, as well as non-qualified money.
The products in this October 2026 rate list are shown as accepting qualified and non-qualified funds,
subject to individual carrier requirements.
Should You Lock In a Longer MYGA Term?
A longer guarantee period may appeal to someone who values keeping the same stated rate for more years.
A shorter term may provide an opportunity to reassess rates and financial needs sooner.
Neither approach is automatically better.
The appropriate term depends on how soon the money may be needed,
your overall retirement strategy and the contract’s withdrawal provisions.
What Is a MYGA Ladder Strategy?
Some consumers divide their funds among MYGAs with different maturity dates.
This is often called a MYGA ladder.
For example, instead of placing $300,000 into one contract,
a person could potentially divide the money among 3-year, 5-year and 7-year guarantee periods.
That creates multiple future dates when part of the money can be reviewed
based on rates and financial needs at that time.
Why the Insurance Company Rating Matters
A MYGA guarantee comes from the insurance company issuing the contract.
For that reason, financial strength is an important part of the comparison.
The carrier ratings shown in the supplied October 2026 rate list range from
B++ through A++.
Consumers should consider the carrier’s financial strength along with the rate,
contract length, minimum premium and liquidity provisions.
MYGA Rates Across Virginia
Mintco Financial can help consumers compare MYGA and fixed annuity options throughout Virginia,
including Richmond, Virginia Beach, Norfolk, Chesapeake, Arlington,
Alexandria, Roanoke, Charlottesville, Williamsburg, Fairfax and surrounding communities.
Because rates can change without notice,
contact Mintco Financial for the latest rate available and help comparing which MYGA may best fit your needs.
Compare Today’s MYGA Rates in Virginia
Rates can change quickly.
Contact Mintco Financial
to confirm the latest available rate and compare the guarantee period,
carrier and contract features that may best fit your needs.
Speak directly with an experienced professional — no call center.
Frequently Asked Questions About MYGA Rates in Virginia
What is the highest MYGA rate shown in Virginia for October 2026?
The highest rate shown in the supplied October 2026 list is 6.35%,
listed for Oxford Life Multi-Select 6-year and 10-year guarantee periods.
What is the highest 5-year MYGA rate shown?
The highest 5-year rate in the supplied list is 6.15%,
shown for Farmers Life Safeguard Plus.
Do MYGA rates change?
Yes. Insurance companies can change MYGA rates,
so consumers should confirm the rate available before submitting an application.
Is a 10-year MYGA better than a 5-year MYGA?
Not necessarily. A longer contract may provide a guaranteed rate for more years,
while a shorter contract may provide more flexibility to reassess rates sooner.
The appropriate choice depends on individual liquidity and retirement needs.
Are MYGAs FDIC insured?
No. MYGAs are insurance contracts and are not FDIC insured.
Guarantees are dependent on the financial strength and claims-paying ability of the issuing insurance company.
Can IRA money be placed in a MYGA?
Many MYGA contracts can accept qualified retirement assets such as IRA funds,
subject to the insurance company’s requirements and applicable tax rules.
This material is provided for educational purposes only and is not individualized investment,
tax or legal advice. Fixed annuities are insurance products and are not bank deposits or FDIC insured.
Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.
Rates and product availability may change without notice.
Contact Mintco Financial to confirm current rates and review the actual contract and disclosures before purchasing.