Best Fixed Annuity Companies
Despite our ultra-low interest rate environment – fixed annuity sales set a record last year. In this article, we’ll list the top 10 fixed annuity companies based on total sales in 2019. We’ll also list the best fixed annuity for each of the top 10 companies.
The results are now in – let’s dive into the best annuity companies in 2019.
Top 10 Fixed Annuity Companies 2019
Each year the Secure Retirement Institute publishes total U.S. Individual Annuity Sales and breaks out the results for the top 20 Insurance Companies.
Fixed annuity sales broke sales records in 2019 with sales of $139.8 billion in 2019, up 5% from the prior year.
The below table lists the top 10 Fixed Annuity Companies by sales in 2019. In addition to the total annuity sales for each company, we’ve included their Comdex Score and AM Best Rating as well.
| Insurance Company | A.M. Best Rating | Comdex Score | 2019 Fixed Annuity Sales |
|---|---|---|---|
| New York Life | A++ | 100 | $9,863,105.00 |
| AIG Companies | A | 82 | $7,237,372.00 |
| Global Atlantic Financial Group | A | 75 | $4,684,876.00 |
| Massachusetts Mutual Life | A++ | 98 | $3,854,866.00 |
| Pacific Life | A+ | 93 | $2,873,727.00 |
| Principal Financial Group | A | 91 | $2,844,881.00 |
| Western Southern Group | A+ | 96 | $2,468,257.00 |
| Symetra Financial | A | 82 | $2,103,435.00 |
| MetLife | A+ | 95 | $1,443,005.00 |
| Great American | A | 82 | $1,403,162.00 |
#1. New York Life
#1. Selling Fixed Annuity: New York Life Secure Term Choice II Fixed Annuity
What made the New York Life Secure Term Choice II the number one selling fixed annuity in the United States?
The Secure Term Choice II allows you to choose the guaranteed interest rate/surrender period from 3-7 years. The longer period, the higher the interest rate.
- Maximum age for initial purchase: 90
- Single premium
- Minimum initial premium: $5,000; $10,000 for pension plans
- Additional premiums: not permitted
- Maximum premium: premiums of $1,000,000 or more require NYLIAC approval
- No Fees
| New York Life | Rating |
|---|---|
| A.M. Best Rating (15 possible) | A++ (1) |
| Fitch (21 possible) | AAA (1) |
| Standard & Poor's (20 possible) | AA+ (1) |
| Moody's (21 possible) | Aaa (1) |
| Comdex | 100 |
#2. AIG Annuities
| American General Life Insurance Company | Rating |
|---|---|
| A.M. Best Company (Best's Ratings, 15 Ratings) | A (3) |
| Moody's (Financial Strength, 21 Ratings) | A2 (6) |
| Standard & Poor's (Financial Strength, 20 Ratings) | A+ (5) |
| Fitch Ratings (Financial Strength, 21 Ratings) | A+ (5) |
| Weiss (Safety Rating, 16 Ratings) | B (5) |
| Comdex Ranking (Percentile in Rated Companies) | 82 |
#1. Selling Fixed Annuity: American Pathway Vision
| Global Atlantic Financial Group | Rating |
|---|---|
| A.M. Best Rating (15 possible ratings) | A (3) |
| Moody's (21 possible ratings) | A3 (7) |
| Fitch (21 possible ratings) | A (6) |
| Standard & Poor's (Financial Strength, 20 Ratings) | A- (7) |
| Comdex (percentile of all rating companies) | 75 |
#1. Selling Fixed Annuity: SecureFore Fixed Annuity
#4. Mass Mutual
| Massachusetts Mutual Life Insurance Company | Ratings |
|---|---|
| A.M. Best Rating (15 possible) | A++ (1) |
| Fitch (21 possible) | AA+ (2) |
| Standard & Poor's (20 possible) | AA+ (2) |
| Moody's (21 possible) | Aa3 (4) |
| Comdex | 98 |
#1. Selling Fixed Annuity: Mass Mutual Stable Voyage
#5. Pacific Life
| Pacific Life Insurance Company | Rating |
|---|---|
| 700 Newport Center Dr, Newport Beach, CA 92660 | |
| A.M. Best Rating (15 possible ratings) | A+ (2) |
| Moody's (21 possible ratings) | A1 (5) |
| Fitch (21 possible ratings) | AA- (4) |
| Standard & Poor's (Financial Strength, 20 Ratings) | AA- (4) |
| Comdex (percentile of all rating companies) | 93 |
#1. Selling Pacific Life Fixed Annuity: Pacific Secure Income
| Principal Financial Group | Ratings |
|---|---|
| A.M. Best Rating (15 possible) | A+ (2) |
| Fitch (21 possible) | AA- (4) |
| Standard & Poor's (20 possible) | A+ (5) |
| Moody's (21 possible) | A1 (5) |
| Comdex | 91 |
#1. Selling Fixed Annuity: Principal Select Series Annuity
| Western & Southern Life Insurance Company | Ratings |
|---|---|
| A.M. Best Rating (15 possible) | A+ (2) |
| Fitch (21 possible) | AA (3) |
| Standard & Poor's (20 possible) | AA- (4) |
| Moody's (21 possible) | Aa3 (4) |
| Comdex | 96 |
#1. Selling Fixed Annuity: MultiVantage Series
| Symetra | Ratings |
|---|---|
| A.M. Best Rating (15 possible) | A (3) |
| Fitch (21 possible) | AA- (4) |
| Standard & Poor's (20 possible) | A (6) |
| Moody's (21 possible) | A1 (5) |
| Comdex | 82 |
#1. Selling Fixed Annuity: MultiVantage Series
#9. MetLife
| Met Life - Metropolitan Life Insurance Company | Ratings |
|---|---|
| A.M. Best Rating (15 possible) | A+ (2) |
| Fitch (21 possible) | AA- (4) |
| Standard & Poor's (20 possible) | AA- (4) |
| Moody's (21 possible) | AA3 (4) |
| Comdex | 95 |
#1. Selling Fixed Annuity: MetLife Fixed Annuity FA Fixed Deferred Annuity
#10. Great American
| Great American Life Insurance Company | Rating |
|---|---|
| 301 E Fourth St., Cincinnati, OH 45202 | |
| A.M. Best Rating (15 possible ratings) | A+ (2) |
| Moody's (21 possible ratings) | A2 (6) |
| Standard & Poor's (20 possible ratings) | A+ (5) |
| Comdex (percentile of all rated companies) | 82 |
#1. Selling Fixed Annuity: SecureGain
Best Fixed Annuity Companies by The Numbers
Each year the Secure Retirement Institute publishes total U.S. Individual Annuity Sales and breaks out the results for the top 20 Insurance Companies.
In addition to overall annuity sales, they also break out the results by types of annuities including fixed, indexed, and top variable annuity companies as well.
Fixed annuity sales broke sales records in 2019 with sales of $139.8 billion in 2019, up 5% from the prior year.
The below table lists the top 10 Fixed Annuity Companies by sales in 2019. In addition to the total annuity sales for each company, we’ve included their Comdex Score and AM Best Rating as well.
| Insurance Company | A.M. Best Rating | Comdex Score | 2019 Fixed Annuity Sales |
|---|---|---|---|
| New York Life | A++ | 100 | $9,863,105.00 |
| AIG Companies | A | 82 | $7,237,372.00 |
| Global Atlantic Financial Group | A | 75 | $4,684,876.00 |
| Massachusetts Mutual Life | A++ | 98 | $3,854,866.00 |
| Pacific Life | A+ | 93 | $2,873,727.00 |
| Principal Financial Group | A | 91 | $2,844,881.00 |
| Western Southern Group | A+ | 96 | $2,468,257.00 |
| Symetra Financial | A | 82 | $2,103,435.00 |
| MetLife | A+ | 95 | $1,443,005.00 |
| Great American | A | 82 | $1,403,162.00 |
Source: Secure Retirement Institutre* U.S. Individual Annuities Sales Survey
Highest Rated Annuity Company Wins Out in 2019
Not only was New York Life the best annuity company in 2019 in terms of fixed annuity sales; it is also the most highly rated of all insurance companies. They boast a Comdex Score of 100 placing them in the one-hundredth percentile and they also hold the highest possible A.M. Best Rating, A++.
Registered Index-Linked Annuities (RILA)
Registered index-linked annuities (RILAs) drove the overall growth in the VA market. In 2019, RILA sales were $17.4 billion, up 55%. Equitable Financial was the #1 RILA company in 2019 representing 29% of the industry’s total RILA sales.
Best Overall Annuity Company: Jackson National
According to the Secure Retirement Institute® (SRITM) U.S. annuity sales rankings, Jackson was the top seller of total annuities in 2019. Jackson retakes the lead position after losing it to AIG in 2018. Jackson has been “king-of-the-jungle” in the variable annuity space for what seems like a decade but variable annuity sales have been on the decline while fixed index annuities are seeing significant growth.
“In 2019, Jackson diversified its annuity sales to focus on growing its fixed annuity market share, which propelled its overall growth in 2019,” said Todd Giesing, SRI senior annuity research director. “Jackson’s fixed indexed annuity sales jumped a staggering 1,293% in 2019, while their fixed-rate deferred annuity sales climbed 169%.”
Today's Fixed Annuity Rates
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