Refinance guide

Better growth: is your money working hard enough?

If your annuity was purchased during a low-rate environment or carries high fees that erode returns, you may be leaving significant growth on the table. Today's products may offer materially better accumulation potential.

Free tool

Better growth wizard

Takes 90 seconds. No obligation. Compare your annuity's growth against 34+ carriers. Have your latest statement handy — we need your current balance to run any quote, and your surrender value to confirm if your annuity qualifies for refinance.

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About you & your current contract

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Growth annuities that match this goal

Accumulation-focused fixed indexed annuities and MYGAs from our reviewed lineup. Filter by your state, age, term, and carrier strength — the cap figure is the best current S&P 500 annual point-to-point cap rate.

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A.M. Best rating

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Showing 12 of 674 products

Product	Type	A.M. Best	Term	Issue ages	S&P 500 cap	Rating
ClearLine Annuity Security Benefit	FIA	A-	0-yr	0-80	12.25%	★ 4.3	View →
ForeAccumulation II 7-Year with Growth Accelerator (Morgan Stanley) Forethought	FIA	A	7-yr	0-85	12%	★ 3.9	View →
Index Protector 5 MVA (Raymond James) MassMutual Ascend	FIA	A++	5-yr	0-89 (qualified/non-qualified); 0-75 (inherited IRA/inherited non-qualified)	12%	★ 3.8	View →
Index Protector 5 MVA (Truist) MassMutual Ascend	FIA	A++	5-yr	0-89 (qualified/non-qualified); 0-75 (inherited IRA/inherited non-qualified)	12%	★ 3.8	View →
Index Protector 5 MVA (Wells Fargo) MassMutual Ascend	FIA	A++	5-yr	0-89 (qualified); 0-89 (non-qualified); 0-75 (inherited IRA); 0-75 (inherited non-qualified)	12%	★ 3.8	View →
American Equity AssetShield 10 American Equity	FIA	A	10-yr	18–80	11.75%	★ 3.9	View →
Strategic Growth Annuity Security Benefit	FIA	A-	10-yr	0-80	11.75%	★ 3.9	View →
American Equity AssetShield 9 American Equity	FIA	A	9-yr	18–80	11.75%	★ 3.8	View →
American Equity AssetShield 7 American Equity	FIA	A	7-yr	18–85	11.25%	★ 4.0	View →
Strategic Growth Annuity 7 Security Benefit	FIA	A-	7-yr	0-85	11.25%	★ 4.0	View →
ForeAccumulation II 5-Year with Growth Accelerator (Morgan Stanley) Forethought	FIA	A	5-yr	0-85	11.25%	★ 3.9	View →
ForeAccumulation II 10-Year with Growth Accelerator (Morgan Stanley) Forethought	FIA	A	10-yr	0-85	11%	★ 3.9	View →

Compare my growth options

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Why your current growth may be underperforming

MYGA renewal rates can drop significantly

If your MYGA matured and auto-renewed, the renewal rate may be 1–2 percentage points lower than today's new-money rates. On $200,000, a 1.5% rate difference costs you $3,000/year in lost growth.

Older FIA cap rates and participation rates may be lower

The interest rate environment has improved dramatically since 2020–2022, and carriers are passing some of that improvement to consumers through higher crediting rates.

Variable annuity fee drag reduces your effective growth

If you're paying 3% in annual fees, your sub-accounts need to earn 3% just to break even. An FIA with 0–1% in fees starts growing from dollar one.

Proprietary indices and strategies have evolved

Newer FIA products offer access to institutional-quality index strategies with participation rates of 200–400%+ that were not available on older contracts.

Premium bonuses on newer FIAs can boost your starting balance

Products like North American's Charter Plus 10 (23% bonus) or EquiTrust's MarketPower Bonus (12% bonus) can offset surrender charges from your old contract and accelerate accumulation.

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Growth comparison checklist

Current guaranteed rate vs. today's rates

For MYGAs: compare your rate to current rates at the same term. For FIAs: compare caps, participation rates, and spreads.

Net growth after fees

Subtract total annual fees from your expected return. A 6% gross return with 3% fees = 3% net. A 5% return with 0.5% fees = 4.5% net. Lower-fee products often produce better net growth.

Index strategy options

Does your current FIA offer competitive index options? Newer products may offer S&P 500, proprietary volatility-controlled indices, and uncapped strategies not available on older contracts.

Compound vs. simple interest

If your current product uses simple interest and a new product uses compound, the new product will accumulate more over time even at a slightly lower stated rate.

Premium bonus offset

If you'd pay a surrender charge to leave, does the new product offer a premium bonus that partially or fully offsets that cost?

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Growth improvement scenarios

MYGA auto-renewal to new MYGA

Your 5-year MYGA matured. The auto-renewal rate is 3.25%. Today's top 5-year MYGA from an A-rated carrier is 5.75%. On $150,000, switching gains you an additional $3,750/year in guaranteed growth — or $18,750 more over 5 years.

Outcome

+$18,750 over 5 years via 1035 exchange

High-fee variable annuity to FIA

Your variable annuity has $300,000 and charges 2.8% in annual fees ($8,400/year). Over 10 years, that's $84,000+ consumed by fees (before compounding). An FIA with a 0.95% income rider fee ($2,850/year) saves you $5,550/year in fee drag — and protects your principal from market losses.

Outcome

$5,550/year in fee savings + principal protection

Old FIA to new FIA with better crediting

Your FIA from 2018 has a 4% cap on the S&P 500 annual point-to-point. A new FIA offers a 9% cap. In a year the S&P returns 8%, you'd earn 4% on the old contract vs. 8% on the new one — double the credit on the same index.

Outcome

Up to 2× the index credit in the same market year

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Frequently asked questions

Won't I lose my accumulated value if I exchange?

No. A 1035 exchange transfers your full accumulated value (minus any applicable surrender charges) to the new contract. You do not lose your gains — they carry over tax-free.

Is it worth exchanging if I have 2–3 years left on my surrender period?

Often, waiting until the surrender period ends is the smarter move — especially if the surrender charge is 3%+. However, if the new product's premium bonus or significantly higher rate would offset the charge within 1–2 years, early exchange can still make sense. Run the breakeven calculation.

Can a bonus FIA really offset my surrender charge?

In many cases, yes. If your old contract has a 4% surrender charge and the new product offers a 12–23% premium bonus, the bonus more than covers the charge. However, bonus products may have longer surrender periods and potentially lower ongoing crediting rates — evaluate the whole package, not just the bonus.

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Explore more

Should I Replace?Better Income Lower Fees 1035 Exchange Caps & Spreads MYGAs

Replacing an existing annuity involves potential surrender charges, loss of existing benefits or riders, new surrender periods, market value adjustments, and tax implications. This content is for educational purposes only. All guarantees are backed by the claims-paying ability of the issuing insurance company.

Better growth: is your money working hard enough?

Growth annuities that match this goal

Why your current growth may be underperforming

Growth comparison checklist

Growth improvement scenarios

Frequently asked questions

Explore more

See how much more your money could grow