Two variable annuity heavyweights. We compare Lincoln Financial (A) and Brighthouse Financial (A) on MYGA rates, financial strength, product range, and customer experience.
Highlighted cells indicate the carrier that wins on that metric.
Strong variable annuity provider
Lincoln Financial is a top-10 U.S. annuity carrier by volume. Best known for their variable annuity programs with living-benefit riders, they also offer competitive MYGA rates and a strong fixed-indexed lineup.
Get Lincoln Financial quote Read full review →MetLife spin-off with broad annuity lineup
Brighthouse Financial was spun out of MetLife in 2017 and is now a major standalone annuity carrier. Their MYGA product, Brighthouse Guarantee, is competitive but not top-rate. Stronger fixed-indexed and variable annuity programs.
Get Brighthouse Financial quote Read full review →| Term | Lincoln Financial | Brighthouse Financial | Difference |
|---|---|---|---|
| 2-year | — | — | — |
| 3-year | — | 5.05% | — |
| 5-year | 5.80% | 5.40% | +0.40 pts |
| 7-year | 5.95% | 5.50% | +0.45 pts |
| 10-year | 6.00% | — | — |
Lincoln Financial wins on 2 of 5 terms (1 tied). Illustrative rates for comparison — not a live quote. Confirm current rates with a licensed specialist.
| Metric | Lincoln Financial | Brighthouse Financial |
|---|---|---|
| A.M. Best Rating | A | A under review |
| Our rating | 4.5/5 | 4.3/5 |
| Founded | 1905 | 2017 |
| Min Purchase | $10,000 | $25,000 |
| State Coverage | 50 states | 50 states |
| 5-year MYGA (published) | 5.80% | 5.40% |
Choose Lincoln Financial if you prioritize strong variable annuity provider. Their standout feature is: a rating with deep balance sheet.
Choose Brighthouse Financial if you prioritize metLife spin-off with broad annuity lineup. Their standout feature is: full annuity product lineup.
On published rate alone, Lincoln Financial posts the higher figure on more of the terms shown here. For safety-first buyers, the carrier with the higher A.M. Best rating wins (tied here). Both clear our A- preferred-tier threshold on the letter grade alone. Important: A.M. Best currently has Brighthouse Financial under review with negative implications, meaning the rating could be downgraded — the letter grade alone overstates the position. An A.M. Best rating is an opinion of an insurer's ability to meet its obligations, not a guarantee, and it can be changed or withdrawn at any time; annuity guarantees are not FDIC-insured. Track Retirement is not a licensed insurance agent and does not recommend either contract; this comparison is general information, not advice.
The headline MYGA rate is only meaningful if the carrier honors a multi-decade contract. Lincoln Financial and Brighthouse Financial differ on both axes — use the table for the numbers and the framing below for the decision.
Illustrative, 24% tax bracket, both lines after tax: $6,635 more over 5 years, almost all of it from the rate difference (5.75% vs 4.4%) rather than from deferral. The 4.4% CD leg is an assumed APY, not a quote; the FDIC all-institution average is 1.41%. A MYGA is an insurance contract, not FDIC-insured.
Whichever carrier you lean toward, most of the gap above is the rate difference rather than the tax treatment — the deferral itself is the smaller part. Either way it only pays off if the money can stay put for the full term with a strong insurer.
Read the full Lincoln Financial review and Brighthouse Financial review, learn how to vet carrier safety, and see the full field in best annuity companies.
Lincoln Financial posts the higher figure on 2 of 5 MYGA term lengths in these illustrative, representative rates. Its 5-year figure is 5.80% vs. 5.40%. These are illustrative figures, not a live quote — your actual rate depends on premium, state, and carrier filing, and a higher posted rate often comes from a lower-rated carrier.
Lincoln Financial is rated A by A.M. Best; Brighthouse Financial is rated A. A.M. Best currently has Brighthouse Financial's rating under review with negative implications (Under review — negative implications (AM Best, maintained 2026-07-29, pending acquisition)), which means it could be downgraded. Both currently sit at or above our A- financial-strength floor on the letter grade alone. An A.M. Best rating is an opinion of an insurer's ability to meet its obligations; it is not a guarantee, and it can be changed or withdrawn at any time. Annuity guarantees are not FDIC-insured.
For MYGAs, neither carrier charges explicit fees. The quoted rate is what you earn, provided you hold to term. For variable annuities, fees vary significantly by product; check the specific contract.
Lincoln Financial operates in approximately 50 states; Brighthouse Financial in approximately 50. State counts are approximate and change as filings are approved or withdrawn — some carriers are not admitted in every state, and California, New York and Oregon in particular have their own filing requirements. Confirm with the carrier or a state-licensed agent that a specific contract is available where you live before you apply.
No carrier, advertiser, or listed agent can pay for a ranking, and none reviews our content before publication. Figures are drawn from primary sources — A.M. Best, NAIC, the IRS, SSA, and Treasury — and checked against them. Our content is researched and drafted with the help of AI tools and verified against those sources; see our editorial policy.
Track Retirement scores every annuity carrier on financial strength (A.M. Best), MYGA rate competitiveness, product breadth, surrender flexibility, and state availability. All affiliate relationships disclosed. See our full methodology.