SILAC Insurance Annuity Review (2026)

Is a SILAC Annuity a Good Choice in 2026?

It depends on what you are optimizing for. SILAC Insurance Company competes aggressively on fixed indexed annuity crediting and MYGA rates, often posting numbers at or near the top of the independent-agent market. The tradeoff is financial strength: SILAC carries an AM Best rating of B (Fair), well below the A- “Excellent” threshold most conservative buyers use as a floor, and its ratings are currently under review tied to a pending change of ownership.

For buyers who understand that tradeoff and stay within their state guaranty association coverage limit, SILAC can deliver a higher rate than an A-rated carrier will. For buyers who treat carrier rating as non-negotiable, SILAC is a pass in favor of a stronger balance sheet at a slightly lower rate.

• Strongest for: rate-driven MYGA and FIA buyers who prioritize crediting potential over rating tier and who size the purchase to stay within guaranty association limits
• Weaker for: conservative buyers who require an A- or better AM Best rating, and anyone uneasy holding a contract with a carrier whose ownership is changing hands
• Access: independent insurance agents and brokerages appointed with SILAC; no captive agent force and no direct-to-consumer sales

SILAC Insurance at a Glance

SILAC’s History and Corporate Structure

SILAC traces its roots to 1935, when it was founded in Salt Lake City as Equitable Life & Casualty Insurance Company. For most of its history it focused on life and supplemental health coverage for seniors, and it is recognized as Utah’s oldest active life insurance company. In 2020 the company rebranded from Equitable Life & Casualty to SILAC Insurance Company, completing the transition across its products by January 2021 to reflect a national expansion and a modernized annuity lineup.

Over the past several years SILAC has grown into a meaningful player in the fixed indexed annuity and MYGA market, with more than $10 billion in total assets. Its growth has been fueled in part by private investment capital and reinsurance arrangements, a common structure among the newer, rate-competitive annuity carriers. That model lets SILAC offer stronger crediting than many legacy mutual insurers, but it also concentrates more of the balance sheet in credit-oriented assets, which is part of why its AM Best rating sits in the “Fair” tier rather than the “Excellent” tier.

In late 2025, Hildene Capital Management, an $18 billion-plus credit-focused asset manager, signed a definitive agreement to acquire SILAC, Inc. for roughly $550 million in cash, with the deal expected to close in mid-2026 pending regulatory approval. Hildene had already held a minority stake in SILAC since 2022 and maintained an existing reinsurance relationship, so the acquisition deepens an established partnership rather than introducing a brand-new owner. AM Best responded by placing SILAC’s ratings under review with developing implications, meaning the rating could move up, down, or hold once the transaction closes. Verify the current rating directly at ambest.com.

SILAC Financial Strength Ratings

SILAC’s B (Fair) AM Best rating is the single most important thing to understand before buying. It sits below the A- (Excellent) line that carriers like Athene, Aspida, and Ibexis clear, which is why SILAC can often post higher rates. A lower rating does not mean a claim will go unpaid, but it does signal a thinner margin of safety in AM Best’s assessment.

Every SILAC annuity is also backed by the guaranty association of the owner’s state of residence, up to state-specific coverage limits (commonly $250,000 in present value of annuity benefits, though limits vary). Keeping any single SILAC contract within your state’s limit is the practical way to manage the lower rating. Look up your state’s coverage at the National Organization of Life and Health Insurance Guaranty Associations.

What Annuity Products Does SILAC Offer?

SILAC’s lineup is built around fixed indexed annuities and multi-year guaranteed annuities. It does not sell variable annuities, and its strength is rate-competitive accumulation and income products sold through independent agents.

• Denali fixed indexed annuity – An accumulation-and-income FIA available in 7, 10, and 14-year terms, with an optional Evolve Rider that adds a premium bonus, greater liquidity, and an enhanced lifetime withdrawal benefit. Best-fit use: buyers who want index-linked growth plus the flexibility to turn on guaranteed lifetime income later.
• Teton fixed indexed annuity – An accumulation-focused FIA (with a Teton Bonus version) that locks in credited interest, protects against index losses with a 0% floor, and allows cumulative penalty-free withdrawals up to 30%, plus a spousal continuation option. Best-fit use: buyers who prioritize principal protection and index upside over immediate income.
• Vega fixed indexed annuity – An income-oriented FIA (with a Vega Bonus version) featuring enhanced withdrawal benefits with accelerated payout options and an enhanced death benefit. Best-fit use: buyers whose primary goal is a higher guaranteed income stream in retirement.
• Secure Savings MYGA – A multi-year guaranteed annuity in 2, 3, and 5-year terms with a $10,000 minimum, penalty-free access to account value, credited interest, or RMDs, and a death benefit paid on account value. Best-fit use: rate shoppers who want simple, CD-style fixed growth with some liquidity.
• Secure Savings Elite MYGA – The higher-rate version of Secure Savings, also in 2, 3, and 5-year terms, that trades some built-in liquidity (available via rider) for a stronger guaranteed rate, with the death benefit paid on cash value. Best-fit use: rate-maximizing buyers who do not need penalty-free withdrawals during the term.

SILAC publishes MYGA rates to the independent rate feeds, so current Secure Savings and Secure Savings Elite rates are shown live below. For side-by-side context against A- and A-rated carriers, review the full MYGA rate comparison.

SILAC Annuity Pros and Cons

Pros

• Highly competitive rates – SILAC frequently posts FIA caps and MYGA rates at or near the top of the independent-agent market
• Focused, modern product lineup – Denali, Teton, and Vega cover accumulation, income, and hybrid goals without variable-annuity complexity
• Generous liquidity on Teton – cumulative penalty-free withdrawals up to 30% are more flexible than the standard 10% many carriers offer
• Optional income and death benefit riders – the Evolve Rider and enhanced benefit options let buyers tailor income and legacy features
• Long operating history – founded in 1935 and Utah’s oldest active life insurer, with more than $10 billion in assets
• Deeper capital backing coming – the pending Hildene acquisition brings an $18 billion-plus asset manager and an existing reinsurance partner into full ownership

Cons

• B (Fair) AM Best rating – below the A- “Excellent” threshold most conservative buyers require; the single biggest reason to size purchases carefully
• Ratings under review – the pending change of ownership leaves the rating in flux until the deal closes in mid-2026
• No S&P, Moody’s, or Fitch rating – AM Best is the only major agency rating, so there is less third-party corroboration of financial strength
• No variable or fee-only products – buyers who want a variable annuity or an RIA-friendly fee-based wrapper will need another carrier
• Credit-oriented balance sheet – the private-capital and reinsurance model that funds high rates also concentrates more risk in credit assets

Who Is a SILAC Annuity Best For?

A SILAC annuity fits a specific buyer: someone who is rate-driven, understands the rating tradeoff, and sizes the contract to stay within their state guaranty association limit. For that buyer, the extra yield SILAC offers over an A-rated carrier can be worth accepting a B (Fair) rating, because guaranty association coverage provides a backstop up to the state limit. The Secure Savings Elite MYGA and the Teton and Denali FIAs are the products where this logic applies most cleanly.

SILAC is a poor fit for conservative buyers who treat an A- or better AM Best rating as a hard requirement, for large single-premium purchases that would exceed guaranty association limits, and for anyone who wants the reassurance of multiple agency ratings. Those buyers are better served by rate-competitive carriers that still clear the A- line, such as Aspida and Ibexis, or by top-rated FIA specialists like Allianz and American Equity.

The right way to decide is to compare SILAC’s actual quoted rate against the best A-rated alternative for the same term, then judge whether the rate pickup justifies the rating step-down for your situation. An independent brokerage can run that comparison across 90+ top annuity companies in one place.

How to Buy a SILAC Annuity

SILAC annuities are sold exclusively through independent insurance agents and brokerages appointed with the company. There is no captive career agent force and no direct-to-consumer channel, so you will work with a licensed agent to get a quote and complete the application. Product details are published at silacins.com.

The process is standard for a fixed or fixed indexed annuity. Confirm the product, term, and any rider elections; complete the state-specific application; fund the contract via check, wire, or a 1035 exchange or IRA transfer; and review the contract during your state-mandated free look period. For FIA purchases, pay close attention to the current caps or participation rates, the surrender schedule, and the exact terms of any income or death benefit rider before signing.

Because SILAC’s advantage is rate, the most important step is cross-shopping. Request a free quote through My Annuity Store to see SILAC’s current rate placed side by side with A-rated carriers for the same term, so you can weigh the extra yield against the lower rating with real numbers in front of you.

Other Annuity Companies to Consider

• Aspida – A- rated with highly competitive MYGA and FIA rates
• Ibexis – A- rated, known for top-of-market MYGA and FIA crediting
• Athene – A+ rated with a broad fixed and indexed lineup
• Allianz – A+ rated FIA specialist with elite financial strength
• American Equity – established fixed indexed annuity specialist
• Compare all annuity companies by rating, product type, and current rates