Fixed-Rate Annuities Yield Up to 0.9 Percent More than Bank CD of Same Term
MEDFORD, OR / ACCESSWIRE / January 9, 2018 / Rates on a number of fixed-rate annuities went up slightly with the turn of the year, according to AnnuityAdvantage's constantly updated database of 290 fixed-rate annuities.
The highest-paying five-year annuity now yields 3.40 percent, up 0.1 percent. Other top payers come in at 3.70 percent for a 10-year guarantee, 3.60 for seven years, 3.50 for six years, and 2.65 for four years.
Fixed-rate deferred annuities are also called multi-year guarantee annuities or CD-type annuities. Like CDs, they provide a set, guaranteed interest rate for a stated period of time, usually three to 10 years, says Ken Nuss, CEO of AnnuityAdvantage, an online annuity marketplace.
But annuities, which are tax-deferred, usually pay more than comparable CDs. For instance, the 3.40 percent rate on the top five-year annuity easily beats the highest-paying five-year CD, recently yielding 2.50 percent.
"That's a whopping 36 percent more," Nuss says.
AnnuityAdvantage is a leading online provider of fixed-rate, fixed-indexed and immediate-income annuities. Since 1999, the AnnuityAdvantage website and its skilled staff have helped people identify their best options in principal-protected annuities.
More information is available from the Medford, Oregon-based company is available at https://www.annuityadvantage.com or (800) 239-0356.
Table of top multi-year fixed-rate annuities as of Jan. 5, 2018. For updates see https://www.annuityadvantage.com/annuity-rates-quotes/top-multi-year-guaranteed-annuity-rates-summary/.
#annuities #personalfinance
Contact:
Henry Stimpson
Stimpson Communications
508-647-0705
[email protected]
SOURCE: Stimpson Communication