How the Rate Lock Works
When you open an MYGA, the interest rate is guaranteed for the full length of the term you choose. It doesn't reset annually, it doesn't fluctuate with index performance, and it isn't subject to market downturns. Interest accumulates on a tax-deferred basis, meaning you don't owe taxes on the growth until you begin taking withdrawals. At the end of your term, you typically have the option to renew, withdraw, or move the funds — giving you a clear decision point rather than an open-ended commitment.
Key features to understand before you purchase:
- Guaranteed rate for the full contract term — no adjustments, no surprises
- Tax-deferred growth — earnings aren't taxed until distribution
- Principal protection — your initial deposit is not exposed to market loss
- Surrender period — early withdrawals before the term ends may carry penalties; your agent will walk you through the specifics of any contract before you sign
- Free withdrawal provisions — most MYGAs allow a percentage of the account value to be withdrawn annually without penalty
A multi-year guarantee annuity — often called an MYGA — is a fixed annuity that locks in a set interest rate for a defined term, typically two to ten years. Your principal is protected, your rate doesn't move with the market, and at the end of the term you know exactly what you have. For Texans who want predictable growth on a portion of their savings without watching the market every day, an MYGA is often one of the most straightforward tools available.
What a Multi-Year Guarantee Annuity Actually Does for You
Who Tends to Benefit Most from an MYGA
An MYGA isn't the right fit for every situation, but it works particularly well for people in a few specific circumstances. If you're approaching or already in retirement and want to move a portion of your savings somewhere it won't lose value, an MYGA offers that stability. If you have money sitting in a low-yield savings account or CD and want a potentially higher guaranteed rate without taking on investment risk, an MYGA is worth comparing. It's also a common choice for people who want to defer taxes on growth while they're still earning income and expect to be in a lower tax bracket when they withdraw.
MYGAs tend to be a good fit if you:
- Want a guaranteed return with no exposure to stock market volatility
- Have a medium-term time horizon — typically three to seven years — before you'll need the funds
- Are looking to defer taxes on interest earnings
- Want simplicity: a clear rate, a clear term, a clear outcome
How Leopold Insurance Helps You Find the Right Contract
As an independent agency, we work with multiple carriers rather than a single company's product line. That means when you ask us about a multi-year guarantee annuity in Texas, we can pull rates and terms from several insurers and help you compare them side by side. Rates vary meaningfully between carriers, and so do surrender schedules, free withdrawal provisions, and renewal terms. Having someone in your corner who can read those differences — and explain what they mean in plain language — is worth more than a rate sheet.
We've been helping families in Lavaca, DeWitt, Fayette, and Victoria counties think through decisions like this since 1967. This isn't a call center. When you reach out, you'll talk to someone local who knows you by name and has time to answer your questions.
Claims History & Risk Management:
Your history can affect rates and availability; proactive management may lower costs.
What to Expect Next
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Your message goes directly to a local agent at the Hallettsville or Victoria office — not a call center queue.
We Reach Out Your Way
We'll follow up using whichever method you selected — call, text, or email — at the time that works best for you.
What Our Clients Are Saying
Common Questions About Multi-Year Guarantee Annuities
What is the difference between a fixed annuity and a variable annuity?
A fixed annuity guarantees a set interest rate for the contract period, so your account value grows at a predictable pace regardless of market conditions. A variable annuity ties your returns to investment sub-accounts that fluctuate with the market — meaning higher potential gains but also the possibility of loss. For people who prioritize stability over growth potential, fixed annuities are generally the more conservative choice.A fixed annuity guarantees a set interest rate for the contract period, so your account value grows at a predictable pace regardless of market conditions. A variable annuity ties your returns to investment sub-accounts that fluctuate with the market — meaning higher potential gains but also the possibility of loss. For people who prioritize stability over growth potential, fixed annuities are generally the more conservative choice.Are fixed annuities tax-deferred?
Yes. The interest your fixed annuity earns is not taxed until you withdraw it. This allows your money to compound over time without an annual tax drag, which can make a meaningful difference over a multi-year contract. Withdrawals in retirement are taxed as ordinary income.Yes. The interest your fixed annuity earns is not taxed until you withdraw it. This allows your money to compound over time without an annual tax drag, which can make a meaningful difference over a multi-year contract. Withdrawals in retirement are taxed as ordinary income.What happens if I need to access my money early?
Most fixed annuities include a surrender period — typically ranging from three to ten years — during which early withdrawals above a certain threshold may trigger a surrender charge. Many contracts do allow penalty-free withdrawals of up to 10% per year. We'll make sure you understand the specific terms of any contract before you commit.Most fixed annuities include a surrender period — typically ranging from three to ten years — during which early withdrawals above a certain threshold may trigger a surrender charge. Many contracts do allow penalty-free withdrawals of up to 10% per year. We'll make sure you understand the specific terms of any contract before you commit.Is my money safe in a fixed annuity?
Fixed annuities are backed by the financial strength of the issuing insurance company, not the federal government. In Texas, the Texas Life and Health Insurance Guaranty Association provides a layer of protection if an insurer becomes insolvent, up to applicable limits. We work with established, financially rated carriers to help reduce that risk from the start.Fixed annuities are backed by the financial strength of the issuing insurance company, not the federal government. In Texas, the Texas Life and Health Insurance Guaranty Association provides a layer of protection if an insurer becomes insolvent, up to applicable limits. We work with established, financially rated carriers to help reduce that risk from the start.How do I get started with a fixed annuity through Leopold Insurance?
The easiest first step is a conversation. Call or text our office, stop by in person in Hallettsville or Victoria, or submit a request through our contact page and we'll reach out to you. We'll ask about your timeline, your goals, and what you already have in place — and then walk you through the options that make sense for your situation.The easiest first step is a conversation. Call or text our office, stop by in person in Hallettsville or Victoria, or submit a request through our contact page and we'll reach out to you. We'll ask about your timeline, your goals, and what you already have in place — and then walk you through the options that make sense for your situation.What is a multi-year guarantee annuity and how is it different from a regular fixed annuity?
A multi-year guarantee annuity is a type of fixed annuity that locks in a specific interest rate for a set term — usually two to ten years. A standard fixed annuity may reset its rate annually at the insurer's discretion. With an MYGA, the rate you're quoted on day one is the rate you earn for the entire term.A multi-year guarantee annuity is a type of fixed annuity that locks in a specific interest rate for a set term — usually two to ten years. A standard fixed annuity may reset its rate annually at the insurer's discretion. With an MYGA, the rate you're quoted on day one is the rate you earn for the entire term.Are MYGAs safe? Is my money at risk?
MYGAs are not market-linked products, so your principal isn't exposed to stock market fluctuations. They are backed by the financial strength of the issuing insurance company. In Texas, annuity contracts are also covered up to certain limits by the Texas Life and Health Insurance Guaranty Association in the event an insurer becomes insolvent. Your agent can walk you through how that protection applies to any specific contract.MYGAs are not market-linked products, so your principal isn't exposed to stock market fluctuations. They are backed by the financial strength of the issuing insurance company. In Texas, annuity contracts are also covered up to certain limits by the Texas Life and Health Insurance Guaranty Association in the event an insurer becomes insolvent. Your agent can walk you through how that protection applies to any specific contract.What happens when my MYGA term ends?
At the end of your term, you'll typically have a window — often 30 days — to decide whether to renew the contract, withdraw your funds, or move them to a different product. If you take no action, many contracts will automatically renew at a new rate set by the carrier. It's important to review your options before that window closes, and we'll help you stay on top of it.At the end of your term, you'll typically have a window — often 30 days — to decide whether to renew the contract, withdraw your funds, or move them to a different product. If you take no action, many contracts will automatically renew at a new rate set by the carrier. It's important to review your options before that window closes, and we'll help you stay on top of it.Can I access my money before the term is up?
Most MYGAs include a free withdrawal provision that allows you to take out a percentage of the account value — commonly 10% per year — without a surrender charge. Withdrawals beyond that amount during the surrender period may carry penalties. If you think you might need access to a larger portion of your funds before the term ends, that's an important factor to discuss before choosing a contract term.Most MYGAs include a free withdrawal provision that allows you to take out a percentage of the account value — commonly 10% per year — without a surrender charge. Withdrawals beyond that amount during the surrender period may carry penalties. If you think you might need access to a larger portion of your funds before the term ends, that's an important factor to discuss before choosing a contract term.How do I know which carrier or rate is right for me?
Rates, terms, and contract features vary from one carrier to the next, and the highest advertised rate isn't always the best overall value once you factor in the surrender schedule and renewal terms. As an independent agency, we compare options across multiple carriers and help you evaluate what fits your situation — not just what looks best on a rate sheet.Rates, terms, and contract features vary from one carrier to the next, and the highest advertised rate isn't always the best overall value once you factor in the surrender schedule and renewal terms. As an independent agency, we compare options across multiple carriers and help you evaluate what fits your situation — not just what looks best on a rate sheet.
Talk to a Local Agent About Your Options
If you're considering a multi-year guarantee annuity in Texas, we're happy to walk you through current rates and help you compare contracts from multiple carriers. Reach out by phone, text, or through our contact form — or stop by either of our offices in Hallettsville or Victoria. If you're coming through Hallettsville, you're welcome to use the drive-thru window.
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