Canvas Annuity Launches 10-Year MYGA at 6.3%, Introduced by New Mascot Steady Edward

The direct-to-consumer provider is rolling out its first new term length since its launch in 2020, helping customers lock in today's elevated rates

SCOTTSDALE, Ariz., July 8, 2026 /PRNewswire/ -- Canvas Annuity, an innovator in direct-to-consumer annuities, announced it will launch a 10-year Multi-Year Guaranteed Annuity (MYGA), beginning today. The new 10-year term will debut with a market-leading initial interest rate of 6.3%, which is guaranteed for the entire term. To champion this milestone, the company has also unveiled its new brand mascot, Steady Edward, a wise, savvy tortoise whose natural armor and enduring lifespan perfectly mirror the core promises of Canvas Annuity.

Since its launch in 2020, Canvas Annuity has disrupted the traditional annuity market with a fast, 10-minute online application process and zero-commission products. Previously offering 3-, 5-, and 7-year terms, the introduction of the 10-year Future Fund opens the door to a completely new demographic of retirement income planners who want a full decade of guaranteed stability.

"When we conceptualized Steady Edward, we wanted to remind people that consistency and strategy beat speed every single time. Our new 10-year MYGA rates embody that exact philosophy. Locking in a market-leading 6.3% rate for a decade is a smart, thoughtful choice for savvy consumers who want to protect their purchasing power safely inside a protective shell," said Meg Duty, Senior Vice President at Canvas Annuity.

Locking in a guaranteed rate for a 10-year period offers many advantages. Most significantly, with inflation running around 4% this year, securing a 6.3% compounding rate is a major benefit that allows customers to actively grow their purchasing power. Because economists continue to debate exactly when and how much interest rates will change, 10-year MYGA rates reduce reinvestment risk for a decade, stripping the guesswork out of retirement income planning.

The 10-year MYGA is the latest addition to Canvas Annuity's growing product lineup, which also includes the Forever Fund, an immediate annuity, launched last fall to provide guaranteed retirement income. Whether clients are looking to bridge a short gap to retirement, lock in rates for the long term, or create a reliable paycheck in retirement, Canvas Annuity has a solution built for them. Because as Steady Edward knows, the best retirement plans come with guarantees. And steady wins the retirement race.

Learn how a Canvas Annuity Future Fund MYGA can provide guaranteed growth and steady retirement savings over time.

ABOUT CANVAS ANNUITY
Canvas Annuity is a digital-first, direct-to-consumer annuities provider offering highly competitive Multi-Year Guaranteed Annuities (MYGAs) without agent commissions or hidden fees. As the exclusive distributor of Puritan Life Insurance Company of America's Future Fund and Forever Fund across 45 states, Canvas Annuity allows customers to purchase an annuity online in minutes. Backed by Puritan Life's 65-year history and B++ A.M. Best rating, Canvas Annuity delivers a winning partnership where steady, persistent strategy meets modern technology, helping customers win the retirement race. For more information, visit CanvasAnnuity.com.

Media Contact: Emily Hild | [email protected]

SOURCE Canvas Annuity