Highest effective annual rate
1.8449%
5-yr effective annual yield · 5-yr surrender schedule · $10,000+ premium
Highest current CANNEX effective annual rate across the available 5-year and 7-year step schedules.
View all rates and terms ↓10%
Free W/D
50
Available jurisdictions
Rates as of August 12, 2026. CANNEX via AdvisorWorld; confirm rates and state availability before purchase.
Product analyzer
Run numbers for Rate Track
guaranteed rates, terms, state availability, surrender details, and contract facts stay scoped to this Security Benefit Life product.
Live product data
Rates as of August 12, 2026, from AdvisorWorld and CANNEX.
5-year guaranteed rate
1.84% effective annual rate over the 5-year term
A multi-year guaranteed annuity from an A- rated carrier offered in five- and seven-year terms with an annual free-withdrawal allowance and a standard declining multi-year surrender schedule — broadly filed nationwide, but currently quoted at declared rates well below the top of the MYGA market.
Best fit
Safety-first buyers with a specific structural reason to choose this carrier or filing — for example existing carrier relationships or platform availability — who want a known, contractually guaranteed interest rate for five or seven years and are comfortable leaving the premium alone for the chosen guarantee period.
Available guarantee terms
5 and 7 years
AM Best
A- Excellent
Available surrender terms
5 and 7 years
Free withdrawal
10%/yr
Availability
50 jurisdictions (excl. New York)
Product analyst notes
How to think about this contract
Why it can stand out
- Multiple guarantee-period lengths are filed (five and seven years), so buyers can match the rate-lock to the horizon they actually want.
- Surrender schedule is a standard declining ladder over a multi-year term rather than a flat penalty, so the cost of early access drops materially each year — the full year-by-year ladder is published on this page.
- The free-withdrawal allowance shown in the key facts above is at the generous end of the MYGA market.
- Broadly filed across the country in the current live feed, so most U.S. buyers can purchase the contract on its standard terms — see the state availability in the key facts above.
What to confirm
- Current declared rates on this contract are well below the top of the MYGA market. Buyers shopping on rate alone will find materially higher five- and seven-year MYGAs from other A-rated carriers — compare side-by-side before committing, and use this product only if there is a specific structural reason it fits (not for headline rate).
- Surrender charges run for the full multi-year term and do not drop into the low single digits until late in the schedule. Early surrenders inside the first few years are materially penalized — treat this as a deferral product, not a near-term liquidity vehicle.
- Rates can vary by premium band — confirm the band that applies to your premium with the carrier before comparing the headline against other carriers' rate sheets.
- This is a fixed declared-rate contract: no upside participation in any market index, no built-in lifetime-income mechanism, and no income rider available. Buyers looking for either growth participation or guaranteed lifetime income should be comparing FIAs, not this product.
Not ideal for
Buyers shopping on rate alone (current declared rates here are well below the top of the MYGA market — compare against other A-rated MYGAs first), buyers who need ongoing access to principal beyond the annual free-withdrawal window, buyers who want exposure to a market index, buyers looking for guaranteed lifetime income, or buyers who want a ten-year rate guarantee.
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Guaranteed Rates by Term
| Term | Surrender term | Rate effective | Published rate |
|---|---|---|---|
| 5-Year | 5-Year schedule | Aug 3, 2026 | 1.8449%Effective annual rate · full term4.88% first year · 1.1% renewal |
| 7-Year | 7-Year schedule | Aug 3, 2026 | 1.7316%Effective annual rate · full term4.98% first year · 1.2% renewal |
Key Features
Free withdrawal
10%/yrAnnual amount that may be available without surrender charges, subject to contract terms.
Surrender waivers
2Nursing home waiver, Terminal illness waiver
Death benefit
Contract ValueBeneficiary 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
5-Year Version
Yr 1
9%
Yr 2
8%
Yr 3
7%
Yr 4
6%
Yr 5
5%
After
0%
7-Year Version
Yr 1
9%
Yr 2
8%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
After
0%
Nursing home waiver, Terminal illness waiver, Surrender waivers
Carrier Ratings
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See how Rate Track compares for your age, state, premium, and income goals alongside other Security Benefit Life MYGA options.