Guggenheim Life and Annuity Review and Ratings

Guggenheim Life and Annuity is rated A- by AM Best and was recently purchased by Group 1001 Insurance Holdings LLC.

Important Guggenheim Life and Annuity Rating Update: 

OLDWICK – DECEMBER 16, 2021 03:14 PM (EST)
AM Best has removed from under review with developing implications and upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of Guggenheim Life and Annuity Company (GLAC) (Wilmington, DE). The outlook assigned to these Credit Ratings (ratings) is stable.

The new financial ratings reflect GLAC’s balance sheet strength, which AM Best assesses as strong, as well as its strong operating performance, neutral business profile, and appropriate enterprise risk management.

The removal of the ratings from under review and subsequent upgrades are due to GLAC being acquired by Group 1001 Insurance Holdings LLC, the parent company of the lead rating unit, Group 1001 Life & Annuity Group (formerly known as Delaware Life Insurance Group), for which GLAC will now become a group member in accordance with AM Best methodology. The acquisition closed on Nov. 12, 2021.

The grouping of GLAC with Group 1001 Life & Annuity Group is due to the consistent executive management, shared services, its material contribution to the group’s premiums and earnings along with the significant level of financial support already shown to GLAC through a $400 million capital contribution post closure. 

Group 1001 also owns Gainbridge Annuity which is issued by Guggenheim Life and Annuity Company.

Assets and Liabilities

Assets: $11,869,875,615
Liabilities: $11,124,261,901

Capital and Surplus: $745,613,714
Assets to Liability Ratio: 106.70%

Company Overview

Guggenheim Life and Annuity Company is a subsidiary of Group 1001 Insurance Holdings LLC.  They began operation in 2009 when they purchased Standard Life of Indiana. Guggenheim is domiciled in Delaware but its base operations are based in Indianapolis, IN.

Guggenheim Life & Annuity Company is licensed to conduct business in 48 states and the district of Columbia.

Contact Information

Guggenheim Life and Annuity Phone Numbers:

 

  • Annuity Customer Service: (800) 990-7626
  • Marketing Phone Number(800) 767-7749
  • Marketing Fax: (317) 574-6278
  • New Business Fax: (317) 574-6278

Guggenheim Life and Annuity Login 

Guggenheim Annuities

Preserve Multi-Year Guaranteed Annuity (3,4,5,6,7,8,9 & 10 Year Terms Available)

It’s never too early to start planning for retirement. Selecting a strategy that works best involves assessing your goals, time horizon, and risk tolerance. 

A single premium deferred annuity is a product that, for a single initial investment, earns a fixed rate of interest allowing your money to grow on a tax-deferred basis until you decide to begin receiving annuity payments. 

Preserve Multi-Year Guaranteed Annuity, a single premium deferred annuity, offers multiple guarantee periods to align with your specific needs and guarantees the interest rate for that entire guarantee period.

ProOption Multi-Year Guaranteed Annuity

Preserve Multi-Year Guaranteed Annuity, a single premium deferred annuity, offers multiple guarantee periods to align with your specific needs and guarantees the interest rate for that entire guarantee period. 

A single premium deferred annuity is a product that, for a single initial investment, earns a fixed rate of interest allowing your money to grow on a tax-deferred basis until you decide to begin receiving annuity payments. 

Guggenheim ViStar

Here is what Guggenheim has to say about their new Guggenheim ViStar Index Annuity:

The ViStar Fixed Indexed Annuity focuses on simplifying investment options and offering you the opportunity to accumulate assets over a period of time while mitigating the risk of a declining market. 

Your premium will be credited earned interest and will receive income from tax deferral, which results in a secure and dependable account balance, and with the optional Lifetime Withdrawal Rider, the ViStar can provide a guaranteed income for life.

Picture of jason caudill, karen maginn (president of guggenheim life and annuity company, and guggenheims annuity marketing team at indy women in tech championship presented by guggenheim.

Jason with Guggenheim's President Karen Maginn at the 2020 Indy Women in Technology Golf Outing Sponsored by Guggenheim

Available Indexes

The Morgan Stanley Diversified Select Index (the “Index”) offers diversified exposure to a wide range of asset classes, such as US industry sectors, international and emerging market equities, treasuries, bonds, commodities, foreign exchange, real estate, and cash. 

It achieves this exposure by investing in liquid US-listed ETFs and futures-based indices, using a rules-based methodology designed by Morgan Stanley that seeks to maximize returns for a defined level of risk. 

The index provides diversified exposure into up to 23 different liquid assets across asset classes: equities, bonds, commodities, foreign exchange, real estate, and cash, and uses a rules-based strategy, using momentum and diversification techniques to select a multi-asset portfolio (the “Asset Portfolio”) targeting highest historical returns subject to a given level of risk.

The Asset Portfolio is monitored daily and a volatility control mechanism is utilized to attempt to limit volatility and reduce the impact of price fluctuations. The exposure to the Asset Portfolio will be adjusted so that it generally equals the Volatility Target divided by the Realized Volatility of the Asset Portfolio, with the difference going into cash. 

The index is calculated on an excess return basis, meaning that the Index level represents the performance of the Asset Portfolio, after application of the volatility control mechanism, over the performance of a cash investment receiving the 3-month LIBOR rate.

The CROCI Sectors III USD 5.5% Volatility Control Index applies an algorithmic process daily to target the volatility of the underlying CROCI Sectors III USD TR Index to be no more than 5.5%. For more information regarding this index, please contact index.data@db.com

Guggenheim's "Family Formula"

Guggenheim Life and Annuity provide financial services to retail customers through fixed annuity products, distributed through networks of independent marketing organizations nationwide. 

They offer a straightforward approach to our product line while still delivering reliable performance in the market. 

The Guggenheim name represents a proud and distinguished tradition of success. Since 1881 the Guggenheim family has been driven by a commitment to integrity and a passion for innovation.

Its guiding philosophy is the “Family Formula”: engage highly talented people, challenge them to think creatively, and empower them to achieve the extraordinary. We embrace the same core values here at Guggenheim Life and Annuity.

Most Popular Annuity Products

Guggenheim Life and Annuity’s best-selling annuity is their Preserve Multi-Year Guaranteed Annuity. You can compare Guggenheim annuity rates to today’s best-fixed annuity rates here. If you have never purchased a fixed annuity before you may find our Ultimate Guide to Fixed Annuities helpful.

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