California Fixed Index Annuity Rates (S&P 500 Caps) — Updated October 12, 2026

Last updated October 12, 2026. Caps are for contracts issued in California and can change at any time — confirm today’s cap before you apply.

These are the current California fixed index annuity rates for the most widely offered crediting strategy: the S&P 500® annual point-to-point cap. The tables cover 158 fixed index annuities (FIAs) from 25 carriers available to California residents. As of this update, the best cap is 11.00% with a 5-year surrender period, 11.65% with a 7-year surrender period and 12.00% with a 10-year surrender period.

I’m Kevin Edwards, an independent California annuity agent. FIAs offer dozens of crediting strategies, most on proprietary indexes that can’t be compared side by side. The S&P 500 annual cap is the one nearly every carrier offers, so it’s the fairest way to compare products. I update this page every week.

Best S&P 500 Cap by Surrender Period

Surrender periodBest S&P 500 capCarrierProductGuaranteed minimum capProducts available
3 years8.00%MassMutual Ascend Life Insurance CompanyAmerican Landmark 32.40%2
5 years11.00%Global Atlantic Financial GroupForeAccumulation II 51.00%28
7 years11.65%Delaware LifeRetirement Stages Select 70.25%43
8 years8.90%North American CompanyPerformance Choice 80.50%1
9 years9.25%American Equity Investment Life Insurance CompanyAssetShield 9 CA1.00%4
10 years12.00%Delaware LifeTarget Growth 100.25%79
14 years6.50%North American CompanyCharter Plus 14 CA FEE0.50%1

All California Fixed Index Annuity Rates by Surrender Period

Each table lists every FIA in California that offers an S&P 500 annual point-to-point cap strategy with a 0% floor, no strategy fee and a stated guaranteed minimum cap, sorted by cap. Where a product’s cap depends on deposit size, I show its highest cap. The guaranteed minimum cap is the lowest the carrier can set the cap at renewal.

3-Year Surrender Period: S&P 500 Caps in California (2 products)

CarrierProductS&P 500 capGuaranteed min. capAM BestRidersNotes
MassMutual Ascend Life Insurance CompanyAmerican Landmark 38.00%2.40%A++NoneMVA
Oceanview Life and AnnuityHarbourview FIA 3 CA7.00%1.00%ANone—

5-Year Surrender Period: S&P 500 Caps in California (28 products)

CarrierProductS&P 500 capGuaranteed min. capAM BestRidersNotes
Global Atlantic Financial GroupForeAccumulation II 511.00%1.00%A2 optional—
Delaware LifeRetirement Stages Select 510.90%0.25%A-NoneMVA
National Life GroupZenith Growth 510.80%0.25%A+NoneMVA; Loan provision
Axonic InsuranceTrailhead 510.75%1.00%A-NoneMVA
Reliance Standard LifeReliance Accumulator 510.75%1.00%A++None—
Sagicor Life Insurance CompanySage Accumulator 5 CA10.65%1.00%ANoneMVA
American General Life Insurance CompanyPower 5 Protector10.50%2.00%ANoneMVA
Reliance Standard LifeKeystone 5 Index Annuity10.25%1.00%A++None—
IbexisFIA Plus 5 CA10.00%1.00%A-None—
IbexisWealthDefender 5 CA10.00%1.00%A-None—
Lincoln FinancialLincoln OptiBlend 5 CA10.00%1.00%ANone—
MassMutual Ascend Life Insurance CompanyAmerican Landmark 59.50%2.40%A++1 optional—
The StandardEnhanced Choice Index Plus 59.25%1.00%ANone—
The StandardEnhanced Choice Index Plus 5 CA9.25%1.00%ANone—
EquiTrust Life Insurance CompanyMarketFive Index9.00%1.00%B++None—
The StandardIndex Select Annuity 59.00%1.00%ANone—
Guaranty Income LifeWealthChoice 58.75%1.00%A-NoneMVA
Oceanview Life and AnnuityHarbourview FIA 5 CA8.40%1.00%ANone—
American Equity Investment Life Insurance CompanyAssetShield 58.25%1.00%ANoneMVA
National Life GroupFlex Secure Growth 57.00%0.10%A+NoneMVA; Loan provision
IbexisWealthDefender Bonus 5 CA6.75%1.00%A-None—
IbexisFIA Plus 5 Premium Bonus CA6.50%1.00%A-None—
AspidaSynergy Choice Bonus 5 CA6.25%1.00%A-NoneMVA
American Equity Investment Life Insurance CompanyAssetShield 5 Bonus (Option 1)6.00%1.00%ANoneMVA
American Equity Investment Life Insurance CompanyAssetShield 5 Bonus (Option 2)5.25%1.00%ANoneMVA
Global Atlantic Financial GroupForeIncome II 5 With Income Multiplier Benefit5.00%1.00%ARider required—
American Equity Investment Life Insurance CompanyAssetShield 5 Bonus (Option 3)4.75%1.00%ANoneMVA
Global Atlantic Financial GroupForeIncome II 5 With Guaranteed Income Builder4.50%1.00%ARider required—

7-Year Surrender Period: S&P 500 Caps in California (43 products)

CarrierProductS&P 500 capGuaranteed min. capAM BestRidersNotes
Delaware LifeRetirement Stages Select 711.65%0.25%A-NoneMVA
Global Atlantic Financial GroupForeAccumulation II 711.25%1.00%A2 optional—
National Life GroupZenith Growth 711.20%0.25%A+NoneMVA; Loan provision
Reliance Standard LifeReliance Accumulator 711.00%1.00%A++None—
Axonic InsuranceTrailhead 710.75%1.00%A-NoneMVA
Sagicor Life Insurance CompanySage Accumulator 7 CA10.65%1.00%ANoneMVA
MassMutual Ascend Life Insurance CompanyAmerican Legend 7 LOAN10.50%2.40%A++2 optionalLoan provision
American General Life Insurance CompanyPower 7 Protector10.50%2.00%ANoneMVA
Reliance Standard LifeKeystone 7 Index Annuity10.50%1.00%A++None—
Fidelity & Guaranty LifeFG AccumulatorPlus 710.00%1.00%ANoneMVA
IbexisFIA Plus 7 CA10.00%1.00%A-None—
IbexisWealthDefender 7 CA10.00%1.00%A-None—
Lincoln FinancialLincoln OptiBlend 7 CA10.00%1.00%ANone—
Clear Spring LifeHighlander 79.75%1.00%A-None—
The StandardEnhanced Choice Index Plus 7 CA9.75%1.00%ANone—
Athene IAAthene Performance Elite® 7 CA9.75%0.50%A+NoneMVA
Athene IAAthene Performance Elite® 7 Plus CA, FEE9.75%0.50%A+NoneMVA
Allianz Life Insurance Company of North AmericaAllianz Accumulation Advantage 79.75%0.25%A+NoneMVA
Pruco Life Insurance Company (Prudential)Prudential Surepath 79.50%2.00%A+NoneMVA
EquiTrust Life Insurance CompanyMarketSeven Index9.50%1.00%B++None—
The StandardIndex Select Annuity 79.25%1.00%ANone—
Nassau Life and Annuity CompanyNassau Growth Annuity 7 Group C9.00%0.75%B++NoneMVA
American Equity Investment Life Insurance CompanyAssetShield 79.00%0.50%ANoneMVA
Guaranty Income LifeWealthChoice 78.75%1.00%A-2 optionalMVA
MassMutual Ascend Life Insurance CompanyPremier Income Bonus Non LOAN8.65%2.40%A++Rider requiredMVA; Loan provision
Oceanview Life and AnnuityHarbourview FIA 7 CA8.50%1.00%ANone—
National Life GroupZenith Income 7 – Max Bonus7.75%0.25%A+Rider requiredMVA
National Life GroupZenith Income 7 – Split Bonus7.75%0.25%A+Rider requiredMVA
Fidelity & Guaranty LifeProsperity Elite 7 Enhancement7.50%1.00%ARider requiredMVA
Fidelity & Guaranty LifeProsperity Elite 7 Protection7.50%1.00%AMust elect 1 of 3MVA
National Life GroupFlex Secure Growth 77.50%0.10%A+NoneMVA
Pacific Life Insurance CompanyPacific Index Dimensions 7 Year7.45%2.95%A+None—
IbexisFIA Plus 7 Premium Bonus CA6.50%1.00%A-None—
IbexisWealthDefender Bonus 7 CA6.50%1.00%A-None—
National Life GroupGrowth Driver 75.75%0.25%A+NoneMVA; Loan provision
National Life GroupIncome Driver 75.75%0.25%A+4 optionalMVA; Loan provision
Global Atlantic Financial GroupForeIncome II 7 With Income Multiplier Benefit5.50%1.00%ARider required—
Athene IAAgility 7 CA5.25%0.50%A+Rider requiredMVA
Global Atlantic Financial GroupForeIncome II 7 With Guaranteed Income Builder5.00%1.00%ARider required—
Global Atlantic Financial GroupIncome 150+ SE 75.00%1.00%A1 optional—
American General Life Insurance CompanyPower 7 Protector Plus Income4.60%2.00%AMust elect 1 of 2MVA
Allianz Life Insurance Company of North AmericaAllianz Core Income 7 Annuity RL &4.00%0.25%A+Must elect 1 of 2MVA
American Equity Investment Life Insurance CompanyCalifornia IncomeShield 72.75%1.00%AMust elect 1 of 5MVA

8-Year Surrender Period: S&P 500 Caps in California (1 product)

CarrierProductS&P 500 capGuaranteed min. capAM BestRidersNotes
North American CompanyPerformance Choice 88.90%0.50%A+NoneMVA

9-Year Surrender Period: S&P 500 Caps in California (4 products)

CarrierProductS&P 500 capGuaranteed min. capAM BestRidersNotes
American Equity Investment Life Insurance CompanyAssetShield 9 CA9.25%1.00%ANoneMVA
American Equity Investment Life Insurance CompanyAssetShield 9 Bonus CA6.25%1.00%ANoneMVA
American Equity Investment Life Insurance CompanyEstateShield 9 CA4.25%1.00%AMust elect 1 of 2MVA
American Equity Investment Life Insurance CompanyCalifornia IncomeShield 93.25%1.00%A4 optionalMVA

10-Year Surrender Period: S&P 500 Caps in California (79 products)

CarrierProductS&P 500 capGuaranteed min. capAM BestRidersNotes
Delaware LifeTarget Growth 1012.00%0.25%A-None—
National Life GroupZenith Growth 1011.10%0.25%A+NoneMVA; Loan provision
Global Atlantic Financial GroupForeAccumulation II 1011.00%1.00%A2 optional—
Reliance Standard LifeReliance Accumulator 1011.00%1.00%A++None—
American National Insurance CompanySmart Start Accumulator 10 CA10.75%1.00%ANone—
Axonic InsuranceTrailhead 1010.75%1.00%A-NoneMVA
Reliance Standard LifeKeystone 10 Index Annuity10.75%1.00%A++None—
Sagicor Life Insurance CompanySage Accumulator 10 CA10.65%1.00%ANoneMVA
American General Life Insurance CompanyPower 10 Protector10.50%1.00%ANoneMVA
American General Life Insurance CompanyPower Select Builder10.50%1.00%ANoneMVA
Nassau Life and Annuity CompanyNassau Growth Annuity 10 Group C10.50%0.75%B++NoneMVA
Nassau Life and Annuity CompanyNassau Growth Annuity 10 Group C with Income10.50%0.75%B++4 optionalMVA
Pruco Life Insurance Company (Prudential)Prudential Surepath 1010.25%2.00%A+NoneMVA
Fidelity & Guaranty LifeFG AccumulatorPlus 1010.25%1.00%ANoneMVA
IbexisFIA Plus 10 CA10.25%1.00%A-None—
Lincoln FinancialLincoln OptiBlend 10 CA10.25%1.00%ANone—
North American CompanyNAC VersaChoice 1010.10%0.50%A+NoneMVA
North American CompanyNAC VersaChoice 10 (ELB)10.10%0.50%A+1 optionalMVA
EquiTrust Life Insurance CompanyMarketValue Index10.00%1.00%B++None—
IbexisWealthDefender 10 CA10.00%1.00%A-None—
Fidelity & Guaranty LifeFlex Accumulator9.50%1.00%A2 optionalMVA
North American CompanyNAC Control. X9.50%0.25%A+1 optionalMVA
Fidelity & Guaranty LifeFG Accelerator Plus 109.25%1.00%ARider requiredMVA
Guaranty Income LifeWealthChoice 109.00%2.00%A-2 optionalMVA
Nassau Life and Annuity CompanyNassau Athos Annuity Non-Bonus Group C9.00%0.50%B++NoneMVA
Allianz Life Insurance Company of North AmericaAllianz Accumulation Advantage8.75%0.25%A+NoneMVA
Oceanview Life and AnnuityHarbourview FIA 10 CA8.50%1.00%ANone—
MassMutual Ascend Life Insurance CompanySafe Return TSA8.00%2.40%A++NoneLoan provision
Nassau Life and Annuity CompanyNassau Bonus Annuity 10 Group C8.00%0.75%B++NoneMVA
Nassau Life and Annuity CompanyNassau Bonus Annuity 10 Group C With Income8.00%0.75%B++2 optionalMVA
National Life GroupZenith Income 10 – Max Bonus8.00%0.25%A+Rider requiredMVA
National Life GroupZenith Income 10 – Split Bonus8.00%0.25%A+Rider requiredMVA
Fidelity & Guaranty LifeProsperity Elite 10 Enhancement7.75%1.00%ARider requiredMVA
Fidelity & Guaranty LifeProsperity Elite 10 Protection7.75%1.00%AMust elect 1 of 3MVA
National Life GroupFlex Secure Growth 107.75%0.10%A+NoneMVA; Loan provision
National Life GroupFlex Select Income Max Bonus7.50%0.10%A+Rider requiredMVA
National Life GroupFlex Select Income Split Bonus7.50%0.10%A+Rider requiredMVA
Clear Spring LifeHighlander7.25%1.00%A-1 optional—
Delaware LifePrimeStart Bonus 107.25%0.25%A-None—
Nassau Life and Annuity CompanyNassau Personal Income Annuity Group D7.00%0.75%B++Must elect 1 of 2MVA
IbexisWealthDefender Bonus 10 CA6.50%1.00%A-None—
National Life GroupFlex Secure Growth 10 Bonus6.50%0.10%A+NoneMVA; Loan provision
American National Insurance CompanySmart Start Accumulator Plus 10 Bonus No Fee CA6.25%1.00%ANone—
American National Insurance CompanySmart Start Accumulator Plus 10 Bonus with Fee CA FEE6.25%1.00%ANone—
IbexisFIA Plus 10 Premium Bonus CA6.25%1.00%A-None—
Clear Spring LifeViStar6.00%1.00%A-1 optional—
EquiTrust Life Insurance CompanyMarketFuture Bonus Income6.00%1.00%B++Rider required—
EquiTrust Life Insurance CompanyMarketTen Bonus Index ROP6.00%1.00%B++None—
Nassau Life and Annuity CompanyNassau Athos Annuity Bonus Group C6.00%0.50%B++NoneMVA
National Life GroupGrowth Driver 106.00%0.25%A+NoneMVA; Loan provision
National Life GroupIncome Driver 106.00%0.25%A+4 optionalMVA
Fidelity & Guaranty LifePerformance Pro with GMWB5.75%1.00%ARider requiredMVA
Global Atlantic Financial GroupForeIncome II 10 With Income Multiplier Benefit5.75%1.00%ARider required—
North American CompanyCharter Plus 10 CA FEE5.75%0.50%A+Rider required—
Guaranty Income LifeWealthChoice 10 with Premium Bonus5.50%1.00%A-NoneMVA
Nassau Life and Annuity CompanyNassau Personal Protection ChoiceSM Group D5.50%0.75%B++NoneMVA
Athene IAAgility 10 CA5.50%0.50%A+Rider requiredMVA
Athene IAAscent Pro 10 Bonus5.50%0.50%A+Must elect 1 of 2MVA
Athene IAAthene Performance Elite 10 CA5.50%0.50%A+NoneMVA
Athene IAAthene Performance Elite® 10 Plus CA, FEE5.50%0.50%A+NoneMVA
Allianz Life Insurance Company of North AmericaAllianz 2225.50%0.25%A+Rider requiredMVA
AspidaSynergy Choice Bonus 10 CA5.25%1.00%A-NoneMVA
AspidaSynergy Choice Income5.00%1.00%A-Rider requiredMVA
EquiTrust Life Insurance CompanyMarketEarly Income5.00%1.00%B++Rider required—
Global Atlantic Financial GroupForeAccumulation II 10 With Premium Enhancement Rider5.00%1.00%A2 optional—
Global Atlantic Financial GroupForeIncome II 10 With Guaranteed Income Builder5.00%1.00%ARider required—
Global Atlantic Financial GroupIncome 150+ SE 105.00%1.00%A1 optional—
North American CompanyBenefitSolutions 105.00%0.50%A+Rider requiredMVA
North American CompanyIncome Pay Pro 105.00%0.50%A+2 optionalMVA
Allianz Life Insurance Company of North AmericaAllianz 360 Annuity5.00%0.25%A+2 optionalMVA
Delaware LifeTruePath Income™5.00%0.25%A-Must elect 1 of 4MVA
American General Life Insurance CompanyPower 10 Protector Plus Income4.90%1.00%AMust elect 1 of 2MVA
EquiTrust Life Insurance CompanyMarketEdge Bonus Index4.25%1.00%B++None—
Pruco Life Insurance Company (Prudential)Prudential Surepathsm Income4.00%2.00%A+Rider requiredMVA
Allianz Life Insurance Company of North AmericaAllianz Benefit Control4.00%0.25%A+2 optionalMVA
American General Life Insurance CompanyPower Select Plus Income3.50%1.00%ARider requiredMVA
Nassau Life and Annuity CompanyNassau Income Accelerator Group D3.00%0.75%B++Must elect 1 of 3MVA
American General Life Insurance CompanyPower Select Plus Income with Multiplier®2.70%2.00%ARider requiredMVA
Fidelity & Guaranty LifeSafe Income Advantage2.25%1.00%A3 optionalMVA

14-Year Surrender Period: S&P 500 Caps in California (1 product)

CarrierProductS&P 500 capGuaranteed min. capAM BestRidersNotes
North American CompanyCharter Plus 14 CA FEE6.50%0.50%A+None—

Rate Changes Coming This Week

These carriers have rate changes scheduled. Caps from these carriers may move up or down on the dates shown:

  • Oct 13, 2026: Aspida, Protective Life
  • Oct 15, 2026: Integrity Life Insurance Company, National Integrity Life Insurance, Oceanview Life and Annuity, Oxford Life Insurance Company, Securian Financial, Symetra Life Insurance Company
  • Oct 16, 2026: Americo (Legacy), Heartland National

If one of these products fits your plans, ask me about the carrier’s rate-lock rules before the effective date.

How to Read These Rates

What is a fixed index annuity?

A fixed index annuity credits interest based on the performance of a market index, like the S&P 500, while protecting your principal from market losses. Your money grows tax-deferred, and in a down year you’re credited 0% instead of a loss.

How a cap rate works

The cap is the most interest you can be credited in a contract year. If the S&P 500 rises 14% over the year and your cap is 10%, you’re credited 10%. If the index rises 6%, you’re credited 6%. If it falls, you’re credited 0%. Most FIAs measure the index’s price change only, so dividends aren’t included.

Caps are set each year

The cap you start with is guaranteed only for the first contract year. After that, the carrier can raise or lower it at each anniversary, but never below the guaranteed minimum cap shown in the tables. 46 of the 158 products guarantee a minimum cap of 0.50% or less, so a carrier’s renewal track record matters as much as today’s cap.

Riders

Some FIAs require you to buy an income rider, which usually carries an annual fee that reduces your account value. 28 products on this page require a rider, and the highest cap among them is 9.25%. “Must elect” means you choose one of several riders, which may include a no-cost option. Ask me what each rider costs before you compare.

Surrender periods and MVAs

Longer surrender periods often come with higher caps, but your money is less accessible. Withdrawals above the penalty-free amount during the surrender period can trigger surrender charges, and products marked MVA can also apply a market value adjustment.

Fixed Index Annuity or MYGA?

An FIA trades a guaranteed rate for the chance to earn more when the market rises, with 0% in down years. A MYGA locks in a guaranteed rate for the whole term. To compare, see my weekly list of California fixed annuity rates (MYGAs).

Frequently Asked Questions

What is the highest fixed index annuity cap rate in California right now?

As of October 12, 2026, the highest S&P 500 annual point-to-point cap on an FIA available in California is 12.00% (Delaware Life Target Growth 10, 10-year surrender period), with a guaranteed minimum cap of 0.25%.

Can you lose money in a fixed index annuity?

Not from market declines. When the index falls, you are credited 0% for that year instead of a loss. You can lose money if you withdraw more than the penalty-free amount during the surrender period, and optional rider fees reduce your account value.

Are FIA cap rates guaranteed?

Only for the first contract year. After that, the carrier can change the cap each year, but never below the guaranteed minimum cap stated in the contract.

What is the difference between an FIA cap and a MYGA rate?

A MYGA rate is a guaranteed interest rate you earn every year. An FIA cap is the maximum you can earn in a year, depending on how the index performs. Your actual credited rate can be anywhere from 0% up to the cap.

How often do fixed index annuity rates change?

Carriers can change caps for new contracts at any time, often several times a year, and they reset caps on existing contracts at each anniversary. I update this page every week.

Get a Cap Rate Quote for Your Situation

The highest cap isn’t always the best fit. Renewal history, the guaranteed minimum cap, rider costs, surrender charges and the carrier’s financial strength all matter. As an independent agent, I compare these products across carriers for your goals. Request a free annuity quote and I’ll send you a side-by-side comparison.

New to annuities? Start with What Is an Annuity or learn more about the types of annuities.

Source: AnnuityRateWatch.com carrier data via AIP Marketing Alliance, retrieved October 12, 2026. Shows S&P 500 annual point-to-point cap strategies with a 0% floor, no strategy fee and a stated guaranteed minimum cap; products sold only through fee-based advisory accounts are excluded. Caps, availability, and features change without notice and must be verified with the issuing carrier at application.

Kevin Edwards, Integrity Now Insurance Brokers. California Insurance License #0D42517. Fixed index annuities are insurance products, not bank deposits, not FDIC insured, and not a direct investment in the stock market or any index. Index-linked interest is subject to caps the insurer may change annually, subject to the guaranteed minimum. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Withdrawals before the end of the surrender period may be subject to surrender charges and market value adjustments; withdrawals of taxable amounts may be subject to ordinary income tax and, if taken before age 59½, a 10% federal tax penalty. This page is for educational purposes and is not tax or legal advice. Product availability and features vary by state. S&P 500® is a registered trademark of Standard & Poor’s Financial Services LLC.

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