A 5-Year MYGA Designed for Today’s Rate Environment

When planning for retirement, many people are looking for the same core things: stability, clarity, and confidence that their money is protected.

That’s why multi-year guaranteed annuities, or MYGAs, have long played an important role in retirement strategies. They are designed to offer principal protection, tax-deferred growth, and a clearly defined guarantee period—helping individuals plan with greater confidence.

But today’s interest rate environment has introduced a new question:

What happens if you commit to a rate approach today… and the world changes?

For clients who value the protection and simplicity of a MYGA but are hesitant to lock into one declared rate for the full guarantee period, Oceanview CurrentRate® MYGA offers an alternative approach to a 5-year annuity.

The Tradeoff Behind Traditional Fixed Rates

Traditional multi-year guaranteed annuities are generally designed to provide a declared interest rate that remains the same for the entire guarantee period.

For many people, that consistency is reassuring.

But it can also come with a tradeoff.

Once the rate is set, it typically does not change—even if interest rates rise during the guarantee period. For some retirement savers, that can create hesitation, especially in environments where rates are shifting. Conversely, a fixed-rate MYGA may provide value if interest rates decline after purchase because the declared rate remains unchanged during the guarantee period.

It’s not about whether traditional fixed-rate MYGAs are appropriate. For many clients, they can be a strong fit. It’s about whether that structure aligns with a client’s financial goals, time horizon, and comfort level in a changing rate environment.

Different annuity products may be appropriate for different financial situations and objectives.

A Changing Interest Rate Landscape

Interest rates don’t stand still.

They move in response to inflation, economic conditions, and broader market forces. Over time, rates may rise, fall, or fluctuate in ways that are difficult to predict.

That reality has led many people to ask:

• Is there a way to maintain principal protection while allowing credited rates to respond to changing rate conditions? 
• Can a retirement solution offer both structure and adaptability without adding unnecessary complexity? 
• Is there an alternative to committing to one declared rate for a full multi-year period? 

These questions are especially relevant for clients who want the benefits of a MYGA but are concerned about rate movement over time.

Introducing a Different MYGA Approach

Oceanview CurrentRate MYGA was designed with these questions in mind.

CurrentRate is a 5-year Multi-Year Guaranteed Annuity that maintains the core foundation of a fixed annuity—principal protection, tax-deferred growth, and straightforward contract terms—while using a different approach to how interest is credited over time. The product provides a declared interest rate in the first contract year, followed by annual rate updates after year one using a defined formula tied to the 1-Year U.S. Treasury Rate plus a guaranteed spread. 

Here’s the key idea:

• Your first-year interest rate is declared at issue and guaranteed for the first contract year. 
• After the first year, your credited interest rate is reviewed and updated annually using a defined, transparent method stated in the annuity contract. 
• The formula includes a market-based component tied to the 1-Year U.S. Treasury Rate, plus a guaranteed spread that remains fixed during the 5-year guarantee period. 

This means your credited rate may increase or decrease over time based on the terms of the contract and prevailing interest rate conditions. Rate adjustments may result in higher or lower credited rates from year to year, and rates are not guaranteed to increase.

Clarity Without Complexity

One of the most important features of CurrentRate MYGA is that the rate-setting process is clearly defined in advance.

After the first contract year, the credited rate is determined using a contract-defined formula:

1-Year U.S. Treasury Rate + Guaranteed Spread

The 1-Year U.S. Treasury Rate is the market-based component. It may move up or down each year. The guaranteed spread is set when the contract is issued and remains fixed during the 5-year guarantee period. Together, those two components determine the credited rate for that contract year, subject to the guaranteed minimum interest rate stated in the contract. 

You do not need to monitor markets or make ongoing crediting decisions. Oceanview applies the methodology automatically according to the contract provisions.

At the same time, it’s important to understand:

• Credited rates may increase or decrease from year to year. 
• The method used to determine those rates remains consistent and transparent. 
• The guaranteed spread does not change during the 5-year guarantee period. 
• The contract includes a minimum guaranteed interest rate, as described in the contract provisions. 

This combination of a fixed guarantee period and annually updated credited rates distinguishes CurrentRate MYGA from traditional fixed-rate MYGAs. 

A Floating Rate MYGA for a Changing Rate Environment

CurrentRate MYGA may be helpful for clients who like the protection and simplicity of a MYGA but are concerned about committing to one declared rate for the full guarantee period.

In that sense, it can be thought of as a floating rate MYGA: a 5-year MYGA with a first-year declared rate and annual rate updates after year one based on a transparent formula.

That does not mean the rate will always go up. It may go down if the market-based component decreases. It is possible for future credited rates to be lower than rates available on other fixed annuity products at a given point in time. But it does mean the rate-setting process is designed to stay connected to current interest rate conditions over time.

For clients who are uncertain about where rates may go next, that structure may align with a preference for a crediting methodology that can adjust over time. 

Built for How People Think About Rates Today

For some individuals, locking in one declared rate for several years still makes perfect sense.

For others, especially in today’s environment, there may be value in an approach that can evolve over time while maintaining the core benefits of a fixed annuity.

Oceanview CurrentRate MYGA was designed for individuals who:

• Want principal protection and tax-deferred growth. 
• Prefer a transparent, rules-based approach to interest crediting. 
• Are concerned about committing to a single long-term declared rate. 
• Value simplicity but also want a rate approach designed to adjust within defined boundaries. 
• Are comfortable with credited rates that may change annually after the first contract year. 
• Understand that interest rates are not guaranteed beyond any stated minimum guarantees and may increase or decrease from year to year. 

A financial professional can help determine whether CurrentRate MYGA aligns with a client’s goals, time horizon, liquidity needs, and overall retirement strategy.

What Comes Next

Understanding the concept is one thing.

Understanding how it actually works is the next step.

CurrentRate MYGA gives clients a defined way to participate in a 5-year MYGA structure while addressing a concern some individuals may have in a changing rate environment: the hesitation to commit to one declared rate for the entire period.

It begins with first-year certainty. After that, it uses a transparent annual update process based on the 1-Year U.S. Treasury Rate plus a guaranteed spread.

For clients who want principal protection, tax-deferred growth, and a rate approach designed to stay more connected to current conditions, Oceanview CurrentRate MYGA may be worth a closer look.

Talk with a financial professional to determine whether Oceanview CurrentRate MYGA may be appropriate for your retirement goals, time horizon, and financial situation.

Disclaimers

Guarantees are based on the claims-paying ability of the issuing insurance company. The fixed annuity product with form number ICC26 OLA SPDA – CurrentRate, or variations of such, are issued by Oceanview Life and Annuity Company (d/b/a Oceanview Life and Annuity Insurance Company in California; NAIC# 68446). May not be available in all states. Not available in the state of New York or Vermont. Policy form numbers and provisions may vary. Rates are guaranteed depending on the guarantee period selected at policy issue, subject to contract terms. 

OCEANVIEW ANNUITIES ARE PRODUCTS OF THE INSURANCE INDUSTRY AND NOT GUARANTEED BY ANY BANK NOR INSURED BY THE FDIC OR NCUA/NCUSIF OR ANY OTHER FEDERAL GOVERNMENTAL AGENCY. MAY LOSE VALUE. NO BANK/CREDIT UNION GUARANTEE. NOT A DEPOSIT. MAY ONLY BE OFFERED BY A LICENSED INSURANCE AGENT. GUARANTEES ARE SUBJECT TO THE CLAIM PAYING ABILITY OF THE ISSUING INSURANCE COMPANY.

Annuities issued by Oceanview Life and Annuity Company, 1331 17th Street, Suite 1050, Denver, CO 80202. In California, doing business as Oceanview Life and Annuity Insurance Company www.oceanviewlife.com.

Annuities are generally designed as long-term retirement solutions and have certain limitations. They are generally not intended to replace emergency funds, serve as income for day-to-day expenses, or support short-term savings goals. Please refer to the contract for complete details, including features, limitations, and charges.

A.M. Best Rating as of February 11, 2026, is subject to change. A (Excellent) rating is third highest of fifteen possible rating classes for financial strength. The outlook assigned to these Credit Ratings is stable.

This material is a general description intended for general public, educational use. Oceanview Life and Annuity Company is not providing investment advice for any individual or in any individual situation, and therefore nothing in this correspondence should be read as such. 

Neither Oceanview Life and Annuity Company nor any of its representatives may provide tax or legal advice. Clients should consult their own qualified tax or legal advisors.

Withdrawals in excess of any Free Partial Withdrawal amounts are subject to a Surrender Charge and Market Value Adjustment (MVA). The MVA may have the effect of increasing or decreasing the Surrender Value of the withdrawal depending on the market interest rate changes.

The IRS may impose a penalty for withdrawals prior to age 59 ½. Withdrawals may also be subject to ordinary income tax.

Contracts purchased in an IRA or other tax-qualified plan provide no additional tax-deferral benefit, since they are already afforded tax-deferred status. All annuity features, risks, limitations, and costs should be considered prior to purchasing an annuity within a tax-qualified retirement plan. For non-qualified annuities, tax deferral is not available to corporations and certain other entities.

Rates, renewal caps, and declared interest rates, will always follow contract provisions relative to minimums and maximums stated.  Oceanview determines, at its discretion, the rates, renewal caps and, declared interest rates above the contractual minimums that are guaranteed.