What You Need to Know Before Buying
Company Background and Reliability
- Founded: 1958 (Puritan Life)
- Years in Business: 67 years (as of 2026)
- Headquarters: Scottsdale, Arizona (Puritan Life)
- Company Overview: Canvas Annuity is a direct-to-consumer, fully online annuity platform operated by Puritan Life Insurance Company of America. It offers two primary single-premium deferred annuities—the Future Fund and Flex Fund—designed for simplicity and competitive rates.
- Why It Matters: Canvas provides a streamlined digital buying process with attractive fixed rates. However, it lacks the breadth of product options and financial strength of larger, more established insurers.
Financial Strength and Ratings (2026)
- A.M. Best: B++
- S&P: Not Rated
- Moody’s: Not Rated
- Fitch: Not Rated
- Comdex Score: 57
- Why It Matters: A B++ rating signals mid-tier financial strength. While Canvas offers high MYGA rates, policyholders should weigh this against the greater stability of carriers with A or A+ ratings.
Fixed Annuity Interest Rates
Canvas currently offers some of the market’s most aggressive yields for such a young, small insurance company. To see if they still hold the top spot, compare them with current fixed annuity rates for November 2026
Fixed Income Payout Rates
These are the highest fixed lifetime income payout rates for November 2026 among leading annuity providers. Since Canvas focuses mainly on MYGAs and not income annuities, you’ll want to compare its accumulation options with the payout guarantees offered by other insurers.
How to Compare Canvas Annuity with Other Companies
- Specialized Strength: Digital-first approach with highly competitive MYGA rates.
- Financial Stability: Backed by Puritan Life (B++ rated), below top-tier industry standards.
- Product Range: Limited to MYGAs (Future Fund and Flex Fund) with straightforward terms.
- Independent Benchmarking: Compare Canvas’s MYGA yields against A- or A+ rated carriers to balance higher rates with stronger financial backing.
Why Use an Independent Annuity Broker
- Buying direct limits you to Canvas’s products.
- Independent brokers compare Canvas with dozens of other carriers.
- This ensures you find the best combination of yield, safety, and flexibility.
- Brokers cost you nothing—insurance companies pay commissions.
Application Process (Step-by-Step)
- Get a Quote: Review Canvas’s available MYGA rates.
- Select a Product: Choose between growth-focused or income-focused annuities.
- Submit an Application: Apply fully online through Canvas’s digital system.
- Funding Options: Use non-qualified funds, IRAs, Roth IRAs, or 401(k) rollovers.
- Contract Issuance: Policies are typically issued within just a few business days after funding.
Other Insurance to Consider
- Life Insurance: Protects loved ones and can restore lost funds if you annuitize.
- Long-Term Care Insurance: Covers nursing home or in-home care costs.
- Disability Insurance: Secures income for working individuals before retirement.
Final Advice
Canvas Annuity, offered through Puritan Life, delivers some of the highest MYGA rates in the market with unmatched digital convenience. However, its mid-tier financial rating and limited product lineup mean it should be compared closely with A-rated carriers to ensure the right balance of growth and long-term security.
Why Choose The Annuity Expert
- Our service is free of charge, with no obligation.
- Access the largest selection of annuity products in the United States.
- Advisors guide you through every step for a stress-free experience.
Contact The Annuity Expert today for free quotes. We’ll help you find the highest fixed annuity interest rates to grow your savings or the strongest guaranteed income payouts for retirement.
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