Regulation · State guide
Pennsylvania annuity rules
Top 5-year MYGA
6.30%
B++ or better, yield to surrender
- FIA S&P cap
- 17.00%
- As of
- Oct 27
What Pennsylvania law says
Free-look period
A Pennsylvania annuity contract holder has at least 10 days after delivery to return the contract and get the premium refunded for any reason — longer if the contract replaced another one.
40 P.S. § 410E, Pennsylvania Insurance Company Law of 1921, Section 410E — Notice of Contractholder's Right to Examine Annuity or Pure Endowment ContractsVerified 2026-08-25
What your agent owes you
A producer recommending an annuity must act in your best interest, without placing the producer's or insurer's financial interest ahead of yours.
40 P.S. § 403-B, Pennsylvania Insurance Company Law of 1921, Article IV-B (Suitability of Annuity Transactions), Section 403-B — Duties of insurers and insurance producersVerified 2026-08-25
How Pennsylvania taxes annuity income
Pennsylvania taxes the amount paid under an annuity contract only to the extent it is includable in your federal gross income — the earnings, not the return of your own premium.
72 P.S. § 7303(a)(6) — Tax Reform Code of 1971, Section 303(a)(6), Pennsylvania Tax Reform Code of 1971, Section 303(a)(6) — Classes of income, annuity contract payments includable in federal gross incomeVerified 2026-08-25
Who regulates annuities in Pennsylvania
Fixed annuities are insurance products, so they are overseen by the state insurance department rather than by the SEC. The department licenses the carriers and the producers who sell them, and it takes consumer complaints.
The Pennsylvania guaranty association
Every state has a life and health insurance guaranty association that steps in when a member insurer fails. Coverage terms are set by state law and differ by state and by product. Contact the association directly for what applies to a specific contract.
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This page is educational and is not legal, tax, or insurance advice. State rules change. Verify anything here with the Pennsylvania insurance department before acting.
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