Today’s MYGA Rates Available in Tennessee
Multi-year guaranteed annuity (MYGA) rates change frequently and availability varies by state. Rather than show a snapshot that goes stale, we maintain a live comparison of 2,400+ products from 60+ carriers, updated from industry rate feeds.
Compare live MYGA rates for Tennessee
Filter by term, carrier rating, and minimum premium — then connect with a licensed Tennessee agent about any rate you see.
See Today’s Rates →Tennessee does not tax annuity income
Tennessee has no state income tax. Its last personal tax on investment income — the Hall Income Tax on interest and dividends — was fully repealed effective 2021, and Tennessee now imposes no personal income tax of any kind. Annuity withdrawals, annuitized payments, and lump-sum distributions are not taxed at the state level.
Federal income tax still applies. Qualified annuities (funded with pre-tax dollars through an IRA or 401(k) rollover) are fully taxable as ordinary income when distributed; non-qualified annuities are taxed only on the earnings portion under exclusion-ratio rules. Withdrawals before age 59½ may incur a 10% federal early-withdrawal penalty.
Source: Tennessee Department of Revenue
Tennessee Annuity Regulations
Free Look Period: At least 10 days; see your contract's cover page
Tennessee annuity contracts include a free look period — a window after delivery during which you may return the contract for a full refund with no surrender charges. The minimum period is at least 10 days for most contracts, with the exact terms stated on your contract's cover page.
Carriers may offer longer periods than the state minimum. Confirm current requirements with the Tennessee Department of Commerce and Insurance.
Source: Tennessee Department of Commerce and Insurance — consumer resources
Best Interest Standard: Adopted — effective January 1, 2024
Effective January 1, 2024, Tennessee holds producers to the NAIC best-interest standard of conduct when recommending an annuity. The producer must act in the consumer's best interest — satisfying care, disclosure, conflict-of-interest, and documentation obligations — and may not place their own financial interest ahead of the consumer's. Producers must complete a 4-hour best-interest training course before selling annuities, and insurers must maintain supervision systems.
Replacement Rules
Tennessee requires consumer protections when an existing annuity or life insurance policy is replaced:
- A written replacement notice identifying the contracts being replaced and disclosing surrender charges, benefits, and features being given up.
- Notification to the existing insurer.
- A documented best-interest basis for the recommendation under Tennessee's standard of conduct.
Source: Tennessee Department of Commerce and Insurance — consumer resources
