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    Looking for the Best Rate on a Fixed Annuity? Shopping Around Really Pays Off

    by Ken Nuss Sep 23, 2022 4 minutes

    If you’re looking for a haven for your money, with a three-year fixed-rate annuity, you can choose one paying 2.00% annually or one paying 4.25%! Other than the rate, the two products are quite similar.

    If you’re shopping for a five-year guarantee, available rates range from 2.60% to 4.65%, according to AnnuityAdvantage’s database of annuity rates.

    Rates on annuities with the same term vary hugely. If you don’t shop around, you’ll almost certainly earn far less interest than you could. Unfortunately, many local annuity agents represent only a few annuity companies, sometimes just one.

    Before I offer tips on how to shop

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