Reliance Standard Life Insurance Co. Annuity Review 2026

Our Verdict

Who Reliance Standard Is

Reliance Standard Life Insurance Company traces back to 1907, when Central Standard Life was founded in Chicago. It took the Reliance Standard name in 1963, became part of Delphi Financial Group in 1987, and has been owned by Tokio Marine Holdings of Japan since May 2012. The home office is in Schaumburg, Illinois, with the administrative office in Philadelphia.

Most of its business is not annuities. Reliance Standard is best known as a group employee-benefits insurer, writing disability income, group life, and absence management through its Matrix subsidiary, which is why AM Best describes its revenue as well distributed across those lines. Annuities are the growth line, and the company sells them through more than 6,000 independent agents rather than direct to consumers.

Two points matter for a buyer. First, the contract you sign is issued by Reliance Standard Life Insurance Company itself, NAIC 68381, not a brand sitting on a separate issuer. Second, New York residents are served by the affiliate First Reliance Standard Life Insurance Company, so product availability in New York differs from the rest of the country.

Financial Strength: A++ From AM Best

AM Best reaffirmed Reliance Standard’s A++ (Superior) rating with a stable outlook on November 19, 2025, the fifth straight year at the top of the agency’s 15-level scale. Standard & Poor’s rates the company A+ (Strong) and Moody’s rates it A1. Only a short list of annuity carriers carry A++, and most of them are mutual giants that price well below the market on fixed rates.

The balance sheet behind the rating is a Reliance Standard Life Group total of roughly $30.2 billion in assets and $3.2 billion in capital and surplus as of June 30, 2025. AM Best notes that capital and surplus has compounded at about 13% a year over five years, and that Tokio Marine maintains a standing capital support agreement, contributing more than $500 million in 2024 and 2025 specifically to support annuity growth. The one caution AM Best flags is that below-investment-grade bonds sit near the high end of the group’s own tolerance.

Reliance Standard Annuity Offerings

Multi-Year Guaranteed Annuities

Reliance Standard sells three MYGA series, and the difference between them is mostly minimum premium and term. Reliance Guarantee comes in 5, 7, and 10-year terms with a $20,000 minimum. Eleos is a 5-year MYGA with a $10,000 minimum, sold in an MVA version and an SP version without a market value adjustment. Apollo is the traditional fixed annuity, with an annually declared rate, a 7-year surrender schedule, and the same MVA or no-MVA choice.

The MVA choice is worth understanding before you pick. An MVA contract usually pays a slightly higher rate in exchange for adjusting your surrender value up or down with interest rates if you cash out early. The SP versions skip that adjustment, which makes the surrender value predictable if there is any chance you need the money before maturity. Every Reliance Standard deferred annuity allows 10% penalty-free withdrawals each contract year.

Fixed Index Annuities

The two index series are Keystone and Reliance Accumulator, each in 5, 7, and 10-year versions. Keystone credits interest off the S&P 500 with capped point-to-point, participation-rate, and monthly-average strategies. Reliance Accumulator adds the S&P MARC 5% Excess Return index, a volatility-controlled index that has been live since 2017, which lets the carrier offer much higher participation rates than it can on the raw S&P 500.

Both series are built for accumulation. There is no guaranteed lifetime withdrawal benefit rider, so if you want contractual lifetime income you will need a different carrier or a separate contract. Index policies are issued on the 1st and 15th of each month, which can add a week or two to the timeline compared with the MYGAs.

We track current caps and participation rates for every version: Keystone 5, Keystone 7, Keystone 10, Reliance Accumulator 5, Reliance Accumulator 7, and Reliance Accumulator 10. For a full product-level breakdown, read our Reliance Accumulator 7 review.

Is Reliance Standard a Good Annuity Company?

Yes, and for a safety-first buyer it is one of the easier recommendations we make. The combination is rare: the highest AM Best rating available, a parent with a written capital support agreement, and MYGA rates that sit in the competitive range rather than the “you are paying for the rating” range. AM Best’s own report says annuity sales ran well above plan, driven by both MYGAs and index annuities, which tells you the pricing is landing.

The honest limits are about scope, not strength. You cannot buy lifetime income, an income rider, or a variable annuity here. The index lineup uses only two indexes, which is simpler to understand but gives you fewer diversification choices than Athene or Allianz offer. And because the group’s core business is employee benefits, the annuity operation is smaller than the A++ rating might suggest.

Complaints and Service

Reliance Standard has pre-screened every annuity application for suitability since 2009, before the NAIC required it, and its agent guidelines explicitly discourage replacement business. Applications are issued in three to five business days once complete, and transfers and exchanges get a 45-day rate lock from the date the paperwork is sent to your current custodian. Policy delivery receipts are mandatory on every contract, which protects your free-look period.

Reliance Standard vs Athene

Athene is the carrier most fixed index buyers compare against, so here is where the two differ.

• Financial strength: Reliance Standard is A++ with S&P A+ and Moody’s A1. Athene is A+ from AM Best. Both clear any reasonable threshold, but Reliance Standard sits one notch higher.
• Product breadth: Athene offers income riders, bonus products, and a dozen index choices. Reliance Standard offers two indexes and no income rider.
• Who it fits: Reliance Standard for accumulation and MYGA money where the rating matters. Athene when you need guaranteed lifetime income from the same contract.

See our Athene annuity review, or browse every carrier we work with.

How to Buy a Reliance Standard Annuity

Reliance Standard annuities are sold only through independent licensed agents. There is no direct-to-consumer channel, which is where we come in: we are independent, appointed with Reliance Standard and 90+ top annuity companies, and we can put its rates beside every carrier competing for the same money.

Reliance Standard accepts IRA rollovers, 1035 exchanges, and non-qualified after-tax funds. It does not accept 401(k) or 403(b) plan money directly, so workplace-plan balances roll to an IRA first. A direct rollover or exchange is not a taxable event when handled correctly, and the 45-day rate lock means a slow outgoing custodian will not cost you the rate you applied for.

Most fixed and MYGA contracts issue within three to five business days of a complete application. Index contracts issue on the 1st or 15th. Your state’s free look period begins when you sign the delivery receipt.

Request a free quote or call 855-277-8088. No obligation, no cost to compare.

Reliance Standard Annuity FAQ

Keep Researching

• Insurance Company Ratings Chart, compare AM Best, S&P, Moody’s and Comdex scores across hundreds of carriers.
• Fixed Annuity Rates, today’s best MYGA rates from every carrier we track.
• How to Buy an Annuity, a common sense guide to the process start to finish.

Ratings are current as of the snapshot date above and are subject to change; verify current standing at ambest.com before purchasing. Financial figures are Reliance Standard Life Group totals from AM Best’s November 2025 report. Rates update daily from AnnuityRateWatch and vary by state and deposit size. Not an offer or solicitation.