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New York Life


Jackson National Life


North American


Pacific Life




Reliance Standard




The Standard


Delaware Life


Oxford Life


Why are annuities sold by insurance companies?

Annuities are sold by insurance companies because they offer guarantees.

  • In the case of fixed annuities (a.k.a. multi-year guaranteed annuities or MYGAs), it’s a guaranteed return for a set number of years.

Insurance companies are regulated at the state level by each state they do business in. The National Association of Insurance Commissioners (NAIC) exists to coordinate activity among the state insurance commissions and promote consistency in regulation.

It’s because of this regulation that the guarantees offered by insurance companies are meaningful. In order for a product to be called an annuity and offer a guarantee, it needs to have been approved by the state and comply with all of the regulations that exist to protect consumers.

Which insurers offer fixed annuities?

Fixed annuities, a.k.a. multi-year guaranteed annuities or MYGAs are offered by insurance companies. Because of their shorter guarantee length of 3-10 years, you will see insurers with a wider range of financial ratings. At, we limit our offering to those rated A-or better by A.M. Best. Here are some examples of insurance companies offering fixed annuities:

  • American International Group (AIG) is a global insurance organization founded in Shanghai, China in 1919. They provide property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries. Its primary insurance entity, American General Life Insurance Company, is rated "A" by A.M. Best. As of December 31, 2017, AIG reported having assets under management of $491 billion.
  • Delaware Life was established in 2013 and is a subsidiary of holding company Group One Thousand One. They offer fixed indexed, variable, and multi-year guaranteed fixed annuities. As of September 30, 2018, the company reported having assets under management of $36.1 billion. They are rated "A-" by A.M. Best.
  • Oxford Life, founded in Arizona in 1965, offers life insurance, annuities, and Medicare Supplement insurance. As of December 31, 2017, the company reported having assets under management of $2.0 billion and gross surplus of $196 million. They receive an "A-" financial rating from A.M. Best.

Refer to the information above for the full list of insurance companies on the platform that offer fixed annuities. Note that this list is not exhaustive and that there are some insurance companies offering annuities that we don’t have access to such as Northwestern Mutual who only sells through their agents.

How should I select an insurance company for my annuity purchase?

If you view fixed annuity rates, you’ll see multiple insurers bidding on your business. Their bids differ in two key dimensions: (1) the rate or quote, and (2) the financial rating. All reputable annuity providers are rated by A.M. Best. Some might also be rated by Standard & Poor's, Moody's, and Fitch. The highest A.M. Best rating is A++, then A+, A, A-, B++, B+, B etc. We limit our fixed annuity offerings to insurers rated A- or higher. Typically, the stronger the financial strength of the insurer, the return rate they’re able to offer.

The principle of diversification that you most likely use for your stock market investments also applies to annuities. Instead of choosing just one insurer and one credit rating, consider spreading your investment across multiple insurers.