The Farmers Safeguard Plus 3 is a 3-year multi-year guaranteed annuity (MYGAA savings-style annuity that promises one interest rate for a fixed number of years.Full definition →) paying 5.65% a year if held to the end of its term (yield to surrenderWhat you actually earn per year if you hold the annuity to the end of its surrender window.Full definition →), backed by Farmers (B++ AM Best). The minimum premium is $10,000, with 0% free withdrawal per year. Your principal is protected from market swings and growth is tax-deferred until withdrawal.
| Carrier | Farmers B++ AM Best |
| Product type | Multi-year guaranteed annuity (MYGA) |
| Guaranteed term | 3 years |
| Yield to surrenderWhat you actually earn per year if you hold the annuity to the end of its surrender window.Full definition → | 5.65% |
| Minimum premium | $10,000 |
| Maximum premium | $1,000,000 |
| Free withdrawalThe slice of your annuity you can take out each year with no exit fee.Full definition → | 0% per year |
| Market value adjustmentA rate-driven bonus or haircut on big early withdrawals from an MVA annuity.Full definition → | Yes |
| Maximum issue age | 95 |
| Tax treatment | Tax-deferred growth |
Rates shown are not offers. Confirm the current number with the carrier before purchasing. Guarantees rely on the issuing insurer's claims-paying ability. Not FDIC insured. Availability varies by state, and rates change often, which is why every table carries its update date.
Carrier brochure
Read Farmers's own brochure for the Farmers Safeguard Plus 3 (PDF). It is the carrier's document. The annuity contract, not this brochure, governs. Product features, riders, and availability vary by state; always read the full contract and disclosures before purchasing. Rates are not guaranteed by this brochure; see our dated rates page. Any guarantees are subject to the issuing insurer's claims-paying ability and are not FDIC insured.
Download the Farmers brochure (PDF)Carrier form ICC21-FLIC-CON, dated 2024-09-05. Last verified July 23, 2026.
Want a second opinion on the Farmers Safeguard Plus 3? A licensed advisor can line it up against other carriers, at no cost.
Find my advisorWithdrawing more than the free amount during the guarantee period costs a percentage of the amount withdrawn. It steps down each year, and a market value adjustment (MVA) can also apply (our guide to how surrender periods work explains the lock-up and the MVA in full):
| Year | 1 | 2 | 3 |
|---|---|---|---|
| Charge | 9% | 8% | 7% |
The Farmers Safeguard Plus 3 is filed and available in 27 states as of the last feed update. Availability is confirmed during the application.
Alaska, Alabama, Arkansas, Arizona, District of Columbia, Georgia, Iowa, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Missouri, Mississippi, Montana, North Dakota, Nebraska, New Mexico, Nevada, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, West Virginia, Wyoming
| Year | Rate | Interest | Balance |
|---|---|---|---|
| Year 1 | 5.65% | $5,650 | $105,650 |
| Year 2 | 5.65% | $5,969 | $111,619 |
| Year 3 | 5.65% | $6,306 | $117,926 |
| Total | $17,926 | $117,926 |
Compound-annually projection on the guaranteed rate for the full term. An estimate, not a quote. It assumes no withdrawals and does not model taxes. Rates are compiled from a licensed carrier rate feed and public sources and are examples, not offers.
| What works | The honest downsides |
|---|---|
| Savers who can leave money alone for 3 years | Anyone who may need the funds before the term ends |
| People who want a CD-style guarantee at a higher rate | People wanting market upside |
| Anyone tired of watching a balance swing | Savers who need FDIC insurance specifically |
| Non-qualified money seeking tax deferral | Those under 59.5 planning to withdraw soon |
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