Do you apply directly through the Blueprint site, or just get the rates from there?
I have only used MYGA's through Fidelity, which is only the New York Life product I believe.
I am now more comfortable with an A rated product which has 35 bps over NYL.
You apply directly via the BluePrint Income website and they handle everything, including sending you an overnight label that you use to send a check directly to the insurance carrier that you're going with. Blueprint never touches your funds.
Fidelity offers Mass Mutual, USAA, New York Life, Western and Southern and Guardian. All are A++ rated by AM Best, except W&S that's A+.
One perhaps not so obvious benefit of working with Fidelity is that you see the MYGA on your Fidelity customer portal along with your other accounts. With Blueprint, you need to log in to the insurance carrier's website. Not a big deal unless you have multiple MYGAs, then could be convenient.
I just opened our first MYGA with Fidelity and the process so far was a bit of a PITA with the rep over-promising what would happen. (Basically saying the MYGA would show on the Fidelity website and I'd start earning interest "a day or two, max after the funds are pulled". That didn't happen, and I was then told by a different rep that it could be up to 2 weeks "normally" - and that insurance companies are all getting slammed and behind right now, so it could be longer. I did make a bit of a stink about being told something different and lo and behold see the MYGA in my account this AM..which is the 4th business day after funds were pulled. Not horrible, but I would have much preferred the 1st rep to have been more upfront with me..)
I do get the impression from talking with them that the Blueprint guys are a bit more straight up, although they're a much smaller operation. Haven't opened a MYGA with them yet but continue to watch the rates. Next one will probably be with them.
Note that Blueprint was bought some time back (within the last year or two?) by Mass Mutual. Oddly, they don't at this time carry the Mass Mutual MYGAs. Fidelity does, and that's the one I just bought at 3% for 4-year and 3.2% for 5 year. Mass Mutual is a solid company financially and has been around forever. So I felt more comfortable with that as an option vs something like Americo or Oceanview.
I'm sticking with the one year ones right now and buying a $25 K one each month this year. As they roll off next year I plan to replace them with ones that have a higher yield.
If things get really nutty with interest rates going up, I will back up the truck on longer treasuries, maybe even 10 year.
It does seem like rates "should" be higher toward end of this year or even a year or so out, but there have been more than a few macro analysts (Stephanie Pomboy is one that I really respect) who seem pretty convinced that the Fed "can't" raise rates to the level they expect before they break something significant in the economy (like, cause a recession). The thinking appears to be at that point they'll not only stop raising, but will start lowering rates and re-institute another round of QE to try to fix what they broke.
Whether that will happen or not is anyone's guess, but I've heard more than a few very credible analysts that believe the Fed won't get beyond 1 - 1.5% or so FFR before they hit the wall in terms of ability to raise. Guess we'll find out soon enough..lots of signs out there that we may already be in a recession, and all it's going to take is a strong wind to push us into one if we're not already, so....(to that point, less than a month ago, the Atlanta Fed had Q1 GDP forecast at almost zero. They've upped their forecast a bit since then, but still...)
Since I suspect we may not get above 1-1.5% FFR before the Fed backs off, I'm scooping up some 3.2+% MYGAs. Bird in the hand and all that. I suspect we "might" see a little higher, but anything above 3 is compelling to me at this point in terms of the income I can then count on..