Security Benefit Life Insurance Company holds an A- (Excellent) rating from AM Best and brings over 130 years of operating history to the annuity market. Founded in 1892 and headquartered in Topeka, Kansas, Security Benefit is a not-for-share financial organization — meaning it operates without the pressure of publicly traded earnings requirements. The company is well-known for two products: the Advance Choice MYGA and the Total Value Annuity, a fixed index annuity with a no-surrender-charge option that set it apart in the marketplace.
This review covers Security Benefit’s financial strength, annuity product lineup, and contact information.
Security Benefit at a Glance
| Detail | Information |
|---|---|
| Full Legal Name | Security Benefit Life Insurance Company |
| Corporate Structure | Not-for-share organization (non-shareholder) |
| Headquarters | Topeka, Kansas |
| Founded | 1892 |
| AM Best Rating | A- (Excellent) |
| Total Assets | $45+ billion |
| Products Offered | MYGAs (Advance Choice), Fixed Index Annuities (Total Value Annuity) |
| States Available | Most states (varies by product) |
| Minimum Premium | $10,000 (varies by product) |
Security Benefit’s Financial Strength
Security Benefit holds an A- (Excellent) from AM Best with $45+ billion in total assets under management. As a not-for-share organization, Security Benefit doesn’t distribute profits to outside shareholders — surplus is retained for the benefit of its policyholders and to strengthen reserve levels, similar in structure to TIAA and other mutual-type organizations.
Founded in 1892 to serve Kansas schoolteachers, Security Benefit has grown well beyond its original public-school base while maintaining a disciplined balance sheet. The Kansas Life and Health Insurance Guaranty Association provides up to $250,000 in protection per covered contract for Kansas policyholders in the event of carrier insolvency.
What Types of Annuities Does Security Benefit Offer?
- Advance Choice MYGA: Security Benefit’s multi-year guaranteed annuity is available in multiple terms with competitive guaranteed rates. The Advance Choice series is straightforward: a fixed rate locked in at issue, no market exposure, with full account value accessible at maturity. Download the Advance Choice MYGA brochure.
- Total Value Annuity (FIA): Security Benefit’s signature FIA product is notable for its no-surrender-charge option — buyers can choose a version of the Total Value Annuity with no surrender period, providing unusual liquidity for a fixed index annuity. This structure appeals to buyers who want FIA growth potential but don’t want long-term lock-up commitments. Index crediting strategies include S&P 500 point-to-point with a cap and participation rate options.
Security Benefit MYGA Rates
Current Security Benefit MYGA rates from our live rate feed:
Current MYGA Rates
Live rates from AnnuityRateWatch · Rates updated March 26, 2026
| Product | Term | Rate (APY) | Min Premium | Last Rate Change | |
|---|---|---|---|---|---|
|
Advanced Choice 3
AM Best A- |
3 Years | 4.75% | $100,000+ | Mar 16, 2026 | View Details → |
|
Advanced Choice 3
AM Best A- |
3 Years | 4.55% | $10,000+ | Mar 16, 2026 | View Details → |
|
Advanced Choice 5
AM Best A- |
5 Years | 5.1% | $100,000+ | Mar 16, 2026 | View Details → |
|
Advanced Choice 5
AM Best A- |
5 Years | 4.9% | $10,000+ | Mar 16, 2026 | View Details → |
|
Advanced Choice 7
AM Best A- |
7 Years | 5.1% | $100,000+ | Mar 16, 2026 | View Details → |
|
Advanced Choice 7
AM Best A- |
7 Years | 4.9% | $10,000+ | Mar 16, 2026 | View Details → |
Rates apply to standard products. State availability varies. Not an offer or solicitation. Always verify current rates before purchasing.
Who Is Security Benefit Best For?
- FIA buyers who want liquidity: The Total Value Annuity’s no-surrender-charge option is rare in the FIA market. Buyers who want index-linked growth without a multi-year surrender commitment should evaluate the TVA closely.
- MYGA buyers comparing A- carriers: Advance Choice rates are frequently competitive within the A- tier. Security Benefit’s long operating history and not-for-share structure add credibility for conservative buyers.
- Educators and public employees: Security Benefit has deep roots in the educator market and maintains strong relationships with school districts and public employee benefit programs across the country.
- Buyers who value organizational structure: The not-for-share model means policyholder interests are structurally prioritized over shareholder returns — a meaningful distinction for buyers planning multi-decade annuity relationships.
Contact Security Benefit
| Contact Method | Details |
|---|---|
| Website | www.securitybenefit.com |
| Customer Service | 1-800-747-2657 |
| Mailing Address | Security Benefit Life Insurance Company One Security Benefit Place Topeka, KS 66636 |
| Hours | Monday–Friday, 7:30 a.m.–5:30 p.m. CT |
Compare Security Benefit Against Other Carriers: My Annuity Store compares Security Benefit alongside Athene, North American, F&G, and 20+ other top-rated carriers. Get a free comparison quote or call 855-583-1104.
Security Benefit Product Reviews
We have published an in-depth review of one of Security Benefit’s fixed index annuity products:
- Security Benefit Strategic Growth Annuity Review — An independent analysis of this accumulation-focused FIA, including index options, cap rates, and how it compares to competitors.
