MYGA Annuities in Tampa, Florida for 2026

If you live in Tampa, Florida and are looking for predictable growth without direct exposure to stock market losses, a Multi-Year Guaranteed Annuity (MYGA) may be worth considering.

MYGAs offer a guaranteed interest rate for a specific period, commonly 3, 5, 7 or 10 years, subject to the terms of the insurance contract.

At Mintco Financial, Mike Minter helps clients compare MYGA annuities from multiple insurance companies rather than relying on a single carrier or simply choosing the highest advertised rate.

Watch Mike Minter explain MYGA annuities, rates, liquidity and important contract provisions.

What Is a MYGA?

A MYGA, or Multi-Year Guaranteed Annuity, is a type of fixed annuity issued by an insurance company.

You deposit money with the insurer, and the company guarantees a stated interest rate for a specified period.

Common MYGA terms include:

• 3 years
• 5 years
• 7 years
• 10 years

Unlike an investment tied directly to the stock market, a traditional MYGA does not fluctuate with daily market movements.

Why Tampa Retirees Are Looking at MYGAs

Many Tampa-area residents approaching retirement want part of their savings positioned more conservatively.

A MYGA may appeal to someone looking for:

• Predictable interest
• A guaranteed rate for a defined period
• No direct stock market exposure
• Tax-deferred accumulation
• Several term lengths to choose from

However, a MYGA should be evaluated as part of your overall retirement strategy rather than selected based only on the highest advertised rate.

3-Year vs. 5-Year MYGA in Florida

A common question is whether a 3-year or 5-year MYGA is more appropriate.

3-Year MYGA

A shorter-term MYGA may appeal to someone who:

• Does not want a long commitment
• Wants an earlier maturity date
• Would like to reevaluate interest rates sooner
• Prefers greater flexibility

5-Year MYGA

A five-year MYGA may appeal to someone who:

• Wants to lock in a guaranteed rate for a longer period
• Does not anticipate needing the money soon
• Wants predictable accumulation
• Is comfortable with the contract’s surrender schedule

Do Not Put All of Your Liquid Money Into an Annuity

One of the most important points Mike Minter discusses with clients is liquidity.

You should generally maintain adequate emergency savings and liquid funds outside of an annuity.

MYGAs are typically designed for money that you do not expect to need during the surrender period.

If you withdraw more than the amount permitted by the contract, surrender charges or other adjustments may apply.

Questions to Ask Before Buying a MYGA

Before purchasing a MYGA, consider asking:

• What is the guaranteed interest rate?
• How long is the guarantee period?
• How much can I withdraw annually without a surrender charge?
• What is the surrender-charge schedule?
• Does the contract have a Market Value Adjustment?
• What is the insurance company’s financial-strength rating?
• What happens if I die during the contract term?
• What happens when the guarantee period ends?

The Highest MYGA Rate Is Not Always the Best MYGA

A high advertised interest rate can look attractive, but you should also review the contract carefully.

One MYGA may offer a slightly higher rate but have:

• Less liquidity
• A longer surrender schedule
• A larger minimum deposit
• Different beneficiary provisions
• A different Market Value Adjustment provision
• A different insurance company financial-strength rating

Rate matters, but the contract matters too.

MYGA vs. CD in Florida

MYGAs are often compared with certificates of deposit because both can provide a fixed rate for a specified period.

However, they are different products.

Bank CD

• Issued by a bank or credit union
• May qualify for FDIC or NCUA insurance within applicable limits
• Interest in a taxable account is generally taxable as it is earned

MYGA

• Issued by an insurance company
• Not FDIC insured
• Guarantees are based on the claims-paying ability of the issuing insurer
• Interest in a non-qualified MYGA generally accumulates tax-deferred until withdrawn

Can You Use IRA Money for a MYGA?

Many MYGAs can accept qualified retirement funds as well as non-qualified money.

Depending on the product and your circumstances, funds may come from:

• Traditional IRAs
• Eligible 401(k) rollovers
• Eligible 403(b) rollovers
• Savings accounts
• CD proceeds
• Existing annuities

Retirement account transfers and annuity exchanges can have tax implications, so your individual circumstances should be reviewed before making changes.

Serving Tampa, Florida and Clients Nationwide

Mintco Financial is based in the Tampa area and works with clients throughout Florida, including:

• Tampa
• Lutz
• Carrollwood
• Wesley Chapel
• Clearwater
• St. Petersburg
• Brandon
• Plant City
• Sarasota
• Orlando

You do not need to live in Tampa to work with us.

Mintco Financial serves clients throughout the United States through convenient phone consultations and virtual meetings. Whether you are in Florida, North Carolina, South Carolina, New York, Pennsylvania, Ohio, Arkansas, Mississippi or another state where the applicable products and services are available, you can meet with Mike without traveling to an office.

Our virtual meetings allow you to review MYGA options, rates, insurance companies and contract provisions from the comfort of your home.

Why Work With Mintco Financial?

Mintco Financial can compare options from multiple insurance companies.

Mike Minter can help you evaluate:

• 3-, 5-, 7- and longer-term MYGAs
• Current available rates
• Financial-strength ratings
• Liquidity provisions
• Surrender schedules
• Beneficiary provisions
• MYGA ladder strategies
• How a MYGA may fit into your overall retirement plan

Frequently Asked Questions About MYGAs in Florida

What does MYGA mean?

MYGA stands for Multi-Year Guaranteed Annuity. It is a fixed annuity that provides a contractual interest rate for a specific guarantee period.

Are MYGAs FDIC insured?

No. MYGAs are insurance contracts rather than bank deposits. Guarantees depend on the claims-paying ability of the insurance company issuing the contract.

Can I meet with Mintco Financial if I don’t live in Tampa?

Yes. Mintco Financial works with clients throughout the United States through phone consultations and virtual meetings, subject to applicable licensing and product availability.

Can Mike compare several MYGA companies?

Yes. Mintco Financial can compare available MYGA products from multiple insurance companies so you can evaluate rates, terms, liquidity and carrier strength.

Can I withdraw money from a MYGA?

Withdrawal provisions differ by insurance company and contract. Some MYGAs permit limited penalty-free withdrawals, while other contracts may be more restrictive. Always review the specific contract before purchasing.

Disclosure: This information is provided for educational purposes only and is not individualized investment, legal or tax advice. Annuity rates and product availability are subject to change and may vary by state, age, premium amount and other factors. Annuities are insurance products and are not FDIC insured. Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Surrender charges, Market Value Adjustments and other contract provisions may apply. Services and products are offered only where properly licensed and available.