Manhattan Life Insurance Annuity Review (2026)

Manhattan Life at a Glance

Manhattan Life’s Financial Strength and Background

The Manhattan Life Insurance Company was chartered in New York in 1850 and has paid claims through every major financial crisis in American history. That longevity is genuine – but it comes alongside a B++ (Good) AM Best rating, two notches below the A- tier. AM Best upgraded Manhattan Life from B+ to B++ in November 2022, citing strong operating performance. The B++ rating means AM Best views the company as having a good ability to meet obligations while being more vulnerable to adverse conditions than A-range carriers.

Manhattan Life Group operates multiple issuing subsidiaries. Annuity products are issued by either The Manhattan Life Insurance Company (New York domicile) or Western United Life Assurance Company (Washington domicile). Confirm which entity is issuing your specific contract. Verify current ratings at ambest.com and manhattanlife.com.

State guaranty associations provide backstop protection up to state-specific limits. Coverage limits vary by state; see NOLHGA.com for details.

What Annuity Products Does Manhattan Life Offer?

• Premium Preferred MYGA (issued by The Manhattan Life Insurance Company) – 5 and 7-year terms. Current rates approximately 4.00-4.25%. Free withdrawal: 15% of accumulated value annually beginning year 1. No Market Value Adjustment. RMD-friendly. Terminal illness waiver included. Available in ~45 states (not CA, NY, ND, SD).
• Preferred Choice MYGA (issued by Western United Life) – 3, 5, 6, and 7-year terms. Current rates approximately 4.15-4.60% depending on term and premium tier. Same 15% free withdrawal, no MVA. RMD-friendly. Same state exclusions as Premium Preferred.
• New Horizon Fixed Indexed Annuity (issued by Western United Life) – 7 and 10-year surrender periods. S&P 500 linked crediting strategies plus fixed option. Zero floor. 10% annual free withdrawal.
• New Horizon Plus FIA – Income-focused FIA variant with 5% annual free withdrawal, 7 and 10-year terms.
• Single Premium Immediate Annuity (SPIA) – Standard payout structures.

Manhattan Life MYGA and Annuity Products

Live rates from AnnuityRateWatch · Rates updated November 15, 2026

Rates apply to standard products. State availability varies. Not an offer or solicitation. Always verify current rates before purchasing.

Who Is Manhattan Life Best For?

• Buyers who prioritize maximum liquidity within the contract – the 15% annual withdrawal from year 1 with no MVA is best-in-class and suited for buyers who want a MYGA but are uncertain about their cash flow needs.
• IRA holders who want RMD flexibility without complexity – no MVA means your required distributions won’t trigger additional adjustments.
• Conservative buyers who value historical longevity – 175-year operating history provides psychological reassurance, even if the rating is not top-tier.
• Buyers willing to accept lower rates for better access – Manhattan Life’s 4.00-4.30% MYGA rates are below market leaders, but the 15% withdrawal and no-MVA structure justify that trade-off for the right buyer.

Manhattan Life is not the right choice for buyers who need a CA or NY product, buyers over 84 (the maximum issue age is lower than most competitors), or rate-maximizing buyers who don’t need the additional liquidity.

Manhattan Life Pros and Cons

Pros

• 15% annual free withdrawal from year 1 – best-in-class, higher than the standard 10% most carriers offer
• No Market Value Adjustment – more predictable and buyer-friendly
• 175-year operating history – continuous operation since 1850
• RMD-friendly – important for IRA holders over 73
• No annual fees or front-end charges
• Terminal illness waiver included at no extra cost

Cons

• B++ AM Best rating – two full notches below the A- tier; the most significant concern for buyers who require A-range financial strength
• MYGA rates are below the market-leading tier (4.00-4.30% vs. 5.00%+ at competing A- carriers)
• Maximum issue age 84 – more restrictive than Sagicor (90) or Liberty Bankers (90)
• Not available in California, New York, North Dakota, or South Dakota
• Only AM Best rated – no S&P, Moody’s, or Fitch
• Multiple issuing entities (Manhattan Life, Western United Life) can create confusion about your actual contract counterparty

Other Annuity Companies to Consider

• Sagicor Life Insurance Company Review
• Liberty Bankers Life Insurance Company Review
• American Gulf Annuity Review
• Browse All Annuity Insurance Companies

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