Top 10 Fixed Annuity Companies 2019
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.
Best Fixed Annuity Companies
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.
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|
|New York Life||A++||100||$9,863,105.00|
|Global Atlantic Financial Group||A||75||$4,684,876.00|
|Massachusetts Mutual Life||A++||98||$3,854,866.00|
|Principal Financial Group||A||91||$2,844,881.00|
|Western Southern Group||A+||96||$2,468,257.00|
Source: Secure Retirement Institutre* U.S. Individual Annuities Sales Survey
Best Fixed Annuity Companies
#1. New York Life Insurance Company
#1. Selling Fixed Annuity: New York Life Secure Term Choice II Fixed Annuity
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 Companies
#3. Global Atlantic Financial Group
#4. Massachusets Mutual (Mass Mutual)
#5. Pacific Life Insurance Company
#6. Principal Financial Group
#7. Western & Southern
#10. Great American Life Insurance Company (GALIC)
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
¹According 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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