MYGuarantee Plus 7 review

Yes, for the right buyer. This is a good annuity for someone who wants a predictable, guaranteed fixed rate held inside an A+ rated carrier for a 7-year window. It is less appealing for someone shopping for income rider benefits, index-linked upside, or a very short surrender period. The product does what a MYGA is supposed to do without adding unnecessary complexity.

The main reason to buy Lincoln MYGuarantee Plus 7 is rate certainty. Unlike a traditional fixed annuity that can reset annually, a MYGA guarantees the same credited rate for the full term — in this case, seven years. For someone moving money from a CD, a savings account, or a short-term bond ladder into something with a longer guaranteed horizon, that certainty is the product's core value proposition. The Lincoln name and A+ rating are secondary reasons — they represent carrier stability, which matters when the money is sitting locked up for seven years.

I think Lincoln MYGuarantee Plus 7 is best for someone who wants principal protection, rate certainty, and minimal complexity in a product backed by a highly rated carrier. The $100,000 or more premium band is where the product is most competitive, at a 4.80% guaranteed rate. Below that threshold, at 3.65%, buyers should compare carefully against other MYGAs before committing. This is not the right product for someone who wants income rider features, index-linked credits, or the ability to move money freely during the surrender period.

You are buying a guaranteed interest rate for a fixed 7-year term from a carrier with a strong financial strength rating. Nothing about this product is variable or index-linked. The credited rate is set at issue and holds for the entire contract period. That simplicity is the product's biggest strength — you know exactly what you are getting from day one.

Lincoln MYGuarantee Plus 7 credits interest through a single fixed account at a rate that is guaranteed for the full 7-year term. There are two bands: a standard rate of 3.65% for premiums under $100,000, and a higher rate of 4.80% for premiums of $100,000 or more. Both rates are locked at contract issue and do not change during the surrender period. Interest compounds over the term, and at the end of 7 years, the contract reaches its surrender-charge-free window.

The crediting band structure is common in MYGAs, but the gap here is meaningful. A buyer putting in $90,000 gets a 3.65% guarantee; a buyer putting in $100,000 gets 4.80%. That 115-basis-point spread is large enough to influence purchase decisions, and buyers near the threshold may want to consider whether additional premium would qualify them for the higher band.

The most meaningful secondary feature is the Waiver of Surrender Charges for Terminal Illness. If the annuity owner is diagnosed with a terminal illness, this rider waives surrender charges on withdrawals, providing access to the full account value without penalty during a difficult time. It is included without an additional fee, which is the right design for this kind of provision.

The full-account-value death benefit is also worth noting. If the owner dies during the accumulation period, beneficiaries receive the full account value rather than a reduced minimum. That keeps the death benefit clean and predictable for estate-planning purposes.

Lincoln MYGuarantee Plus 7 is a 7-year commitment. The 10% annual free withdrawal provides some ongoing access, but amounts above that are subject to surrender charges and a market value adjustment. The MVA is particularly important to understand — it means that in certain interest rate environments, the effective cost of an early exit can exceed the stated surrender charge alone.

The free-withdrawal provision requires leaving a $5,000 minimum in the contract, which is a standard guardrail. Withdrawals are available each contract year up to 10% of account value at that point. That is a reasonable liquidity window for someone who needs periodic access but intends to leave the bulk of the premium in place.

There is no base contract fee, no rider fee, and no explicit annual charge on this product. The cost of ownership is embedded in the spread between the credited rate and what Lincoln earns on the underlying portfolio — which is the standard MYGA model. There is also no income rider, no index-linked crediting, and no premium bonus, which keeps the design clean but also narrows the product's appeal to buyers whose main goal is rate certainty.

The real tradeoffs are the MVA exposure on large withdrawals, the rate band differential, and the fact that this is a 7-year commitment with a front-loaded surrender schedule. State availability is limited — not approved in California or New York, with variations in Florida and Massachusetts.

Legal Entity: The Lincoln National Life Insurance Company

Parent: Lincoln Financial Group

Standard and Poor's Rating: A+

Lincoln Financial Group is a major national carrier with a long history in insurance and retirement products. The A+ S&P rating reflects strong financial stability and claims-paying capacity. For a product where the buyer is locking in money for seven years, carrier strength is a real part of the value equation, and Lincoln holds up well on that dimension.