Anchor MYGA
Gulf Guaranty Life Insurance Company
6.3%
5-yr guarantee
10%
Free W/D
18
States
Live product data
Rates as of May 29, 2026, based on the latest AdvisorWorld scan of CANNEX data.
5-year guaranteed rate
6.3% guaranteed for 5 years
A multi-year guaranteed annuity from Gulf Guaranty Life Insurance Company that publishes 5-, 6-, and 7-year terms at the same declared rate, a seven-year declining surrender ladder with annual free-withdrawal access, an RMD waiver and additional surrender waiver, and single or joint annuitization options on both non-qualified and qualified money — available in a limited set of states.
Best fit
Buyers inside this filing's state footprint who want a single declared rate locked in for a fixed multi-year window, value the option to choose a 5-, 6-, or 7-year term without giving up rate to lengthen the lock-in, want annual free-withdrawal and RMD-waiver access alongside the schedule, and are comfortable with a B-grade A.M. Best carrier rating in exchange for the published headline rate.
AM Best
B++ Good
Surrender period
7 years
Free withdrawal
10%/yr
Availability
18 states
Product analyst notes
How to think about this contract
Why it can stand out
- Same declared rate across every guarantee period this filing publishes — the live feed shows the 5-year, 6-year, and 7-year terms all crediting the same number, so a buyer choosing a longer lock-in is not asked to accept a lower rate to get the longer rate-lock. Most MYGAs in the market step the rate down or up as the term changes; this one keeps it flat across the menu.
- Seven-year declining surrender ladder that steps down by a full percentage point every year from the year-one charge to a low single-digit charge in the final year, with annual free-withdrawal access alongside the schedule, so a buyer who needs partial liquidity in the back half of the contract pays a materially smaller charge than they would on a flat schedule and is not locked out of small withdrawals.
- Carrier provides a contractual RMD waiver and an additional surrender-charge waiver on top of the annual free-withdrawal allowance, so required-minimum-distribution withdrawals for qualified buyers do not trigger a surrender charge and additional flexibility exists for the events the waiver covers — an unusual combination at this carrier tier.
- Both single and joint annuitization options are available, and the contract accepts both non-qualified and qualified funds, so couples planning a joint-life payout and buyers using IRA money are both inside the product's accepted-funds and payout-options envelope.
What to confirm
- This filing is available in a limited set of states — well under half of US jurisdictions on the live feed — so a buyer outside that footprint cannot purchase Anchor MYGA at all, regardless of how the headline rate compares. Confirm state availability before treating this contract as an option.
- The carrier's A.M. Best financial-strength view on this filing is in the B-grade band rather than the A-grade band most large MYGA issuers carry, and this page shows only a single agency view rather than a multi-agency corroboration. Buyers prioritizing the strongest carrier-credit profile available in the MYGA market should weigh that against the headline rate, especially for the longer 6-year and 7-year lock-in choices.
- Surrender charges in the first three years of the schedule are in the high single digits — the year-one charge is at the top end of the MYGA market and does not drop into the low single digits until late in the schedule, so an unplanned early exit beyond the annual free-withdrawal allowance in years one through three carries a real cost. This is a multi-year commitment, not a short-term cash equivalent.
- The death benefit on this filing is described as depending on contract terms, withdrawals, and rider elections rather than a guaranteed roll-up or step-up beyond the contract value, there is no premium bonus, and there is no guaranteed-lifetime-withdrawal rider — this contract is built for rate certainty over a fixed multi-year window, not for legacy enhancement, an upfront bonus, or guaranteed lifetime income.
Not ideal for
Buyers outside this filing's available states (most US jurisdictions), buyers who require an A-grade A.M. Best carrier rating or multi-agency financial-strength corroboration before locking principal, buyers who need a shorter-than-5-year or longer-than-7-year fixed-rate horizon, or buyers who want a premium bonus, a guaranteed-lifetime-withdrawal rider, market-linked upside through index crediting, or a death benefit with a guaranteed roll-up or step-up — a fixed-rate deferred contract from a B-rated regional carrier is not built for any of those things.
Guaranteed Rates by Term
| Term | Guaranteed Rate |
|---|---|
| 5-Year | 6.3% |
| 6-Year | 6.3% |
| 7-Year | 6.3% |
Key Features
Surrender waivers
1RMD waiver
Death benefit
Death Benefit RiderBeneficiary value depends on contract terms, withdrawals, and rider elections.
Annuitization options
Single and jointContract conversion options should be confirmed before purchase.
Fund types
Non-qualified, QualifiedAvailability can vary by state and product terms.
Surrender Schedule
Yr 1
9%
Yr 2
8%
Yr 3
7%
Yr 4
6%
Yr 5
5%
Yr 6
4%
Yr 7
3%
After
0%
RMD waiver, Surrender waivers
Carrier Ratings
Free Comparison Report
Get a personalized Anchor MYGA illustration
See year-by-year projections for your specific age, premium, and income goals.