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 top annuity companies 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.
Delaware Life Pros and Cons
Here is a balanced look at Delaware Life’s strengths and limitations for annuity buyers:
Pros
- Solid financial strength with an A-range AM Best rating
- Offers MYGA products with guaranteed rates and predictable returns
- Offers fixed index annuities with growth potential tied to market indexes and downside protection
- Available through independent agents, allowing side-by-side comparisons with other carriers
Cons
- Not the highest-rated carrier available, so buyers should weigh the rate vs. rating trade-off
- Product availability varies by state, so not all products may be offered where you live
- Surrender charges apply during the contract term, which limits liquidity
Frequently Asked Questions About Delaware Life
Is Delaware Life a safe company for annuities?
Delaware Life holds an A-range AM Best rating (A- (Excellent)), which indicates a strong ability to meet ongoing policyholder obligations. In addition, annuity contracts are backed by your state guaranty association, which provides a secondary layer of protection typically covering $250,000 per contract. Always verify both the current rating and your state’s coverage limits.
What types of annuities does Delaware Life offer?
Delaware Life offers MYGAs, fixed index annuities through independent agents and financial professionals. Product availability, rates, and features vary by state. Use our rate comparison tool to see what’s currently available from Delaware Life and competing carriers.
How do I buy an annuity from Delaware Life?
Delaware Life annuities are sold through licensed insurance agents and financial advisors. My Annuity Store is an independent platform that can quote Delaware Life alongside 20+ other carriers so you can compare rates, terms, and financial strength ratings in one place. Request a free quote or call 855-583-1104 to get started.
How Does Delaware Life Compare to Other Carriers?
The annuity marketplace in 2026 is competitive, with dozens of carriers vying for your business. Before committing to any single carrier, it pays to compare at least three to five options side by side. Key factors to evaluate include:
- AM Best financial strength rating – look for A- or higher for maximum peace of mind
- Guaranteed interest rate and term – even a 0.10% difference compounds significantly over a 5- to 10-year contract
- Surrender charge schedule – understand when you can access your money penalty-free
- Free withdrawal provisions – most carriers allow 10% annual withdrawals without penalty
- Cap rates and participation rates – these determine your upside potential in a fixed index annuity
Our live rate comparison tool shows current rates from Delaware Life and all competing carriers updated daily. You can also request a personalized comparison from our team.
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.
