Certainty Select 5 review

Yes, with some caveats. Certainty Select 5 is a reasonable MYGA for someone who wants a fully guaranteed rate and values the ability to access earned interest without waiting out the surrender period. It's less compelling for someone chasing the single highest posted rate in the 5-year MYGA market or someone who wants the strongest possible carrier rating — EquiTrust's B++ is investment-grade and stable, but it isn't in the same tier as an A+ or A++ carrier, and the surrender schedule is steeper than some competing 5-year products.

The straightforward case for Certainty Select 5 is a fixed rate that's currently ahead of many peer 5-year MYGAs, combined with withdrawal flexibility that most competing contracts don't offer. Someone rolling CD money into an annuity for the tax deferral, or someone who wants a known return without any market exposure, has a rational reason to look here. The unlimited interest-withdrawal feature also matters for someone who wants some cash flow off the contract without disturbing principal or triggering a penalty.

I think Certainty Select 5 is best for a conservative saver — often near or in retirement — who wants a simple, fully guaranteed return and appreciates being able to draw off earned interest along the way rather than being locked out entirely for five years. It also suits someone comfortable with a B++ rated carrier in exchange for a higher headline rate than a top-rated peer might offer. It's a weaker fit for someone who anticipates needing a large lump sum before year five (the surrender schedule is real money), or for someone whose primary criterion is the highest possible carrier financial-strength rating.

You're buying EquiTrust's promise to credit a single fixed rate — 5.05% as of this rate snapshot — every year for five years, with no market-linked component at all. At the end of the term, you walk away with the full account value, or you can renew into a new rate. In exchange for that certainty, you give up any chance of upside if rates rise, and you accept a defined surrender charge if you need more than the free-withdrawal amount before the term ends. There's no rider to evaluate and no crediting formula to decode — the entire product is the rate, the surrender schedule, and the withdrawal terms.

The core mechanic is simple: EquiTrust credits the current fixed rate, 5.05%, for the full five-year guarantee period as of this rate snapshot (dated 3/10/2026). After the five years are up, the contract renews at whatever rate EquiTrust is then offering, subject to a Minimum Guaranteed Interest Rate floor. Rates on MYGAs move with the broader interest-rate environment, so the 5.05% figure is a snapshot, not a permanent number — anyone shopping this product should confirm the current rate before applying, since MYGA rates can shift meaningfully in a matter of months.

The feature that separates Certainty Select 5 from a lot of MYGA competition is its free-withdrawal structure. In the base contract, cumulative interest earned can be withdrawn at any time — in any contract year — without a surrender charge or MVA, either as a single withdrawal (minimum $250) or on a systematic schedule. That's more flexible than the common "10% of account value starting in year two" design used by many competing MYGAs, because it lets you access earnings from day one. On top of that, EquiTrust offers a no-cost optional rider that raises the free-withdrawal allowance to 10% of account value per year after the first contract year — though electing it means accepting a reduced surrender-charge schedule and a modified death benefit, so it's a real tradeoff, not a pure upgrade. That optional rider also isn't available in North Carolina, Ohio, or Texas.

This is a five-year commitment, and the surrender schedule here is on the steeper side for the duration: 10% in years one and two, 9% in years three and four, and 8% in year five — it never drops out of double digits until year three and stays at 8% or higher throughout the term. A market value adjustment also applies on top of that schedule in most states (not in Vermont), which means a surrender during a period of rising rates could cost more than the stated percentage. The offsetting factor is the free-withdrawal design: unlimited penalty-free access to accumulated interest in every year softens the practical impact of that schedule for someone who only needs periodic income rather than a lump-sum exit. There's also a 30-day window before the guarantee period expires where the full account value can be withdrawn without surrender charge or MVA — useful for anyone who wants to reassess before automatically renewing.

There are no ongoing account fees on Certainty Select 5 — no rider charge, no annual contract fee. The Nursing Home Confinement Waiver, which allows penalty-free withdrawal if the owner is confined to a qualifying facility, comes at no additional cost (not available in Massachusetts). The optional liquidity rider that raises free withdrawals to 10% of account value is also offered at no charge — its cost isn't a fee line item, it's a structural tradeoff: a reduced surrender-charge schedule and a different death benefit (Cash Surrender Value immediately, or a payout over at least five years or life, instead of the base contract's lump-sum-eligible Accumulation Value). The real cost to weigh here isn't a fee at all — it's the opportunity cost of locking a rate for five years if interest rates rise materially before renewal.

Legal Entity: EquiTrust Life Insurance Company

Parent: Guggenheim Partners

AM Best Rating: B++