Best Fixed Annuity Companies
A fixed annuity, or MYGA, is a type of annuity that pays a guaranteed interest rate for a set period of time. A rising interest rate environment allowed annuity companies to offer higher fixed annuity rates in 2022 – and American consumers responded.
The Secure Retirement Institute publishes total U.S. Individual Annuity Sales every year and lists the top 20 annuity companies for each type of annuity. The fixed annuity sales breakout results for 2022 are now in so without any further ado let’s dive into the best fixed annuity companies in the United States in 2022!
10 Best Fixed Annuity Companies
Fixed annuity sales were $208 billion in 2022 shattering the previous record set in 2019 by 49%. Todd Giesing, assistant vice president, LIMRA Annuity Research, said “Investors seeking guaranteed growth and downside protection drove extraordinary fixed annuity sales in 2022.
Below are the top 20 best-fixed annuity companies for 2022, ranked by individual U.S. Fixed Annuity Sales according to the 2022 LIMRA U.S. Individual Annuities Sales Survey (Year-end 2022 $ in thousands).
| Rank | Annuity Company | Fixed Sales |
|---|---|---|
| 1 | New York Life | $14,857,784 |
| 2 | Mass Mutual | $11,900,949 |
| 3 | Athene Annuity and Life | $9,714,648 |
| 4 | Corebridge Financial | $7,146,379 |
| 5 | Western Southern Group | $6,230,513 |
| 6 | Global Atlantic Financial Group | $5,159,947 |
| 7 | Pacific Life | $4,512,947 |
| 8 | USAA Life | $4,155,154 |
| 9 | Fidelity & Guaranty Life (F&G) Review | $3,740,550 |
| 10 | Brighthouse Financial | $3,704,850 |
| 11 | Symetra Financial | $2,954,492 |
| 12 | Sammons Financial Companies | $2,745,169 |
| 13 | Reliance Standard | $1,457,344 |
| 14 | Nationwide | $1,301,800 |
| 15 | Delaware Life | $1,148,882 |
| 16 | American National Insurance Company | $937,996 |
| 17 | Security Benefit Life | $926,412 |
| 18 | The Standard | $750,428 |
| 19 | Thrivent Financial | $744,781 |
| 20 | Mutual of Omaha | $688,054 |
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Financial Ratings of Previous top 10 Fixed Annuity Companies
#1. New York Life
| 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 |
#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
#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: Symetra Select 5
#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
Today's Fixed Annuity Rates
| Term | Insurer | Rate | Company | Annuity | AM Best | Free withdrawals | Application |
|---|---|---|---|---|---|---|---|
| 2 Years | 
| 5.10% | CL Life | CL Sundance | B++ | Interest Only | Apply |
| 3 Years | 
| 5.85% | Revol One | DirectGrowth MYGA | B++ | none | Apply |
| 4 Years | 
| 5.10% | Americo Financial | Platinum Assure | A | 5% | Apply |
| 5 Years |
| 6.05% | DirectGrowth MYGA | DirectGrowth MYGA | B++ | none | Apply |
| 6 Years |  | 5.38% | American National | Palladium MYG | A | 10% | Apply |
| 7 Years | 
| 6.70% Simple | Knighthead Life | Staysail Annuity | A- | None | Apply |
| 8 Years | 
| 5.40% | Clear Spring LIfe | Preserve MYGA | A- | None Yr 1 10% Yrs. 2-8 | Apply |
| 9 Years |
| 5.40% | Clear Spring LIfe | Preserve MYGA | A- | None Yr 1 10% Yrs. 2-9 | Apply |
| 10 Years |
| 5.90% | DirectGrowth MYGA | DirectGrowth MYGA | B++ | None | Apply |
