Delaware Life Insurance Company holds an A- (Excellent) rating from AM Best and has emerged as a competitive fixed annuity carrier following its acquisition of Sun Life Financial’s U.S. annuity business in 2013. Based in Wellesley, Massachusetts, Delaware Life focuses exclusively on annuity and life insurance products and has built a growing presence in the MYGA and fixed index annuity markets through the independent agent channel.
This review covers Delaware Life’s financial strength, annuity product lineup, and contact information.
Delaware Life at a Glance
| Detail | Information |
|---|---|
| Full Legal Name | Delaware Life Insurance Company |
| Headquarters | Wellesley, Massachusetts |
| Founded | 2013 (acquired Sun Life U.S. annuity business) |
| AM Best Rating | A- (Excellent) |
| Products Offered | MYGAs (Destination series), Fixed Index Annuities |
| States Available | Most states (varies by product) |
| Minimum Premium | $5,000 (varies by product) |
Delaware Life’s Financial Strength
Delaware Life holds an A- (Excellent) from AM Best, placing it within the A-rated tier most financial advisors consider the minimum threshold for conservative annuity buyers. The company was created in 2013 when Sun Life Financial exited the U.S. individual life and annuity market, selling its in-force block and operations to Delaware Life Holdings LLC.
The company maintains a focused balance sheet anchored in fixed annuity liabilities — the same business it inherited from Sun Life’s U.S. operations. It is regulated by the Massachusetts Division of Insurance and the Delaware Department of Insurance, and its policyholders benefit from state guaranty association coverage in their home states.
What Types of Annuities Does Delaware Life Offer?
- Multi-Year Guaranteed Annuities (MYGAs) — Destination Series: Delaware Life’s Destination MYGA series provides guaranteed fixed rates across multiple term lengths. Competitive positioning within the A- tier has made this product a consistent presence in independent agent rate comparisons. Download the Delaware Life fixed annuity brochure.
- Fixed Index Annuities (FIAs): Delaware Life’s FIA products provide index-linked growth with a zero-loss floor. Available through independent agents and financial advisors with multiple index crediting strategies.
Who Is Delaware Life Best For?
- MYGA buyers comparing A- carriers: Delaware Life Destination rates are frequently competitive within the A- tier. Buyers who want to maximize yield while staying within A-rated carriers will find Delaware Life worth including in comparisons.
- Buyers comfortable with a focused, annuity-specialist carrier: Delaware Life’s singular focus on annuities means its operational expertise and reserve management are entirely concentrated on this product category.
- FIA buyers in the independent agent channel: Delaware Life distributes exclusively through independent agents — buyers working with an independent annuity specialist will have straightforward access to their product lineup.
Contact Delaware Life
| Contact Method | Details |
|---|---|
| Website | www.delawarelife.com |
| Customer Service | 1-888-835-7254 |
| Mailing Address | Delaware Life Insurance Company 1601 Trapelo Road, Suite 30 Waltham, MA 02451 |
| Hours | Monday–Friday, 8 a.m.–6 p.m. ET |
Compare Delaware Life Against Other Carriers: My Annuity Store compares Delaware Life alongside Athene, F&G, EquiTrust, and 20+ other top-rated carriers. Get a free comparison quote or call 855-583-1104.
