Best available rate
6.05%
10-yr guarantee · 10-yr surrender schedule · $10,000+ premium
Highest current rate across the available 3-year, 5-year, 7-year, and 10-year guarantee terms.
View all rates and terms ↓10%
Free W/D
27
Available jurisdictions
Rates as of August 7, 2026. CANNEX via AdvisorWorld; confirm rates and state availability before purchase.
Product analyzer
Run numbers for Safeguard Plus
guaranteed rates, terms, state availability, surrender details, and contract facts stay scoped to this Farmers Life Insurance Company product.
Live product data
Rates as of August 7, 2026, from AdvisorWorld and CANNEX.
Lead-term guaranteed rate
6.05% guaranteed for 10 years
A multi-year guaranteed annuity from Farmers Life Insurance Company offering 3-, 5-, 7-, and 10-year guarantee periods on a 10-year surrender ladder, with a published annual free-withdrawal allowance and a Death-Benefit Rider in the feature set.
Best fit
Safety-first buyers who want a flat declared rate locked for a defined term — with a choice of 3, 5, 7, or 10 years inside one filing — and value a published annual free-withdrawal allowance and a death-benefit rider on top of the standard MYGA mechanics.
Available guarantee terms
3, 5, 7, and 10 years
AM Best
B++ Good
Available surrender terms
3, 5, 7, and 10 years
Free withdrawal
10%/yr
Availability
27 jurisdictions (restricted footprint)
Product analyst notes
How to think about this contract
Why it can stand out
- Four guaranteed terms under one filing — 3, 5, 7, and 10 years — so a buyer can pick the lock-in window that matches their planning horizon without leaving the product.
- Annual free-withdrawal allowance is published on the contract — penalty-free liquidity rules are visible on this page, not gated behind a brochure.
- Death-Benefit Rider listed in the feature set means the beneficiary value is governed by the rider's stated terms rather than only the default contract value.
- Both single-life and joint annuitization options are supported, so a couple can elect a joint payout structure at the end of the surrender period without switching contracts.
What to confirm
- Filed in only a partial set of jurisdictions — confirm Safeguard Plus is available in your state before quoting.
- The surrender-charge ladder runs the full 10 years, starting in the high single digits in year one and stepping down to a fractional charge in the final year — an unplanned early exit beyond the annual free-withdrawal allowance carries a real cost, and the published free-withdrawal allowance should not be assumed to cover a planned full withdrawal.
- Carrier carries an A.M. Best B++ (Good) rating — solid but a notch below the A-range financial-strength scores carried by some larger MYGA competitors; buyers who prioritize the highest carrier rating may want to weigh the headline rate against that trade-off.
- Posted rates assume a specific premium-band and issue-age scenario; deposits in lower or higher bands may earn a different guaranteed rate, so the headline does not apply universally — verify the rate for the actual deposit size before signing.
Not ideal for
Buyers who need a broader filing footprint, market-linked upside through index crediting, a guaranteed-lifetime-withdrawal income rider, or a carrier financial-strength rating above the B++ tier.
Free Comparison Report
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See how Safeguard Plus compares for your age, state, premium, and income goals alongside other Farmers Life Insurance Company MYGA options.
Guaranteed Rates by Term
| Term | Surrender term | Published rate |
|---|---|---|
| 3-Year | 3-Year schedule | 5.65%Rate convention not stated |
| 5-Year | 5-Year schedule | 6%Rate convention not stated |
| 7-Year | 7-Year schedule | 5.95%Rate convention not stated |
| 10-Year | 10-Year schedule | 6.05%Rate convention not stated |
Showing one representative CANNEX rate set that leads the other returned versions across matching terms and premium bands. State- or rider-specific versions require a personalized quote before purchase.
Key Features
Death benefit
Death Benefit RiderBeneficiary value depends on contract terms, withdrawals, and rider elections.
Annuitization options
Single lifeContract conversion options should be confirmed before purchase.
Fund types
Non-qualified, QualifiedAvailability can vary by state and product terms.
Surrender Schedule
10-Year Version
Yr 1
9%
Yr 2
8%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
Yr 8
2.5%
Yr 9
1.5%
Yr 10
90%
After
0%
Carrier Ratings
Free Comparison Report
Get a Safeguard Plus rate report
See how Safeguard Plus compares for your age, state, premium, and income goals alongside other Farmers Life Insurance Company MYGA options.