What is a multi-year guaranteed annuity (MYGA), and how does it work?

Over the past year, interest rates have steadily declined, prompting savers to search for high-interest savings vehicles that protect their money from market risk. While high-yield savings accounts and certificates of deposit continue to be popular options, they’re not the only way to secure a competitive return. Multi-year guaranteed annuities have been gaining attention as an alternative that can offer competitive yields and predictable growth. Learn more about how these products work and whether they’r ...