Comparing Fixed Index Annuities from Life Insurance Companies
After retirement, or even before you retire, is the time to start making financial decisions about what happens after you are no longer working. Life insurance companies that sell indexed fixed annuities can help you when you buy an annuity, meaning that your insurance company promises to make periodic payments to you, starting immediately or at some future time.
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UPDATED: Dec 2, 2021
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- A fixed annuity can be immediate or deferred, depending on your contract. You may start receiving annuity payments within a year of purchasing
- Income payments from a fixed annuity depend on the terms of the contract specifying your annuity payout
- You may also elect to receive annuity income benefits as a lump sum
Retirement doesn’t have to be stressful when trying to figure out what to do once you decide to step away from work. Investing in a fixed index annuity with a life insurance company is an option that may give you some peace of mind regarding your retirement finances.
A fixed index annuity is the most straightforward type of annuity. It is a life insurance type that provides the most predictable and reliable income stream and usually with the lowest fees.
To find out more about where to find life insurance companies that sell indexed fixed annuities, keep reading below.
Already ready to compare? Enter your ZIP code into our free tool above to start comparing life insurance quotes in your area.
Which life insurance companies offer fixed index annuities?
You may ask yourself, are life insurance annuities a good investment?
The best annuities have high rates of return, low provider fees, low minimum investments and are backed by companies with long-established reputations for financial stability and customer satisfaction.
Most annuities guarantee you an interest rate for a fixed term set by the company.
Here are some of the top fixed index annuity companies currently.
Allianz Life has an A+ rating, which is the second-highest financial rating assigned by AM Best.
Allianz Life offers a 10-year fixed index annuity under its Allianz Life 222, with a guaranteed lifetime withdrawal benefit rider included. This means there are two separate values; an account value and a protected income value.
With the account value, money can be withdrawn as a lump sum at the end of the contract. The protected income value is only used to determine annual lifetime income.
Other provided benefits include:
- Minimum Premium: $20,000
- Crediting Methods:
- Monthly Sum with a cap
- Annual Point to Point with a cap
- Annual Point to Point with a spread
- Annual Point to Point with a participation
- Two-year point to point with a participation rate
- Free Withdrawals: Beginning in the second contract year, up to 10% of the contract’s premium can be withdrawn annually without any surrender charges.
- Death Benefit: Upon death, the beneficiary will receive the full account value or the protected income value if taken over five years.
Allianz Life also has no annual fees or expenses.
Athene Life and Annuity
Athene Life and Annuity is rated A by AM Best and is one of the largest providers of fixed- and fixed-indexed annuities in the U.S.
The Athene Ascent Pro 10 is a fixed index annuity that offers the potential to grow your retirement savings and create a guaranteed income stream for the rest of your retirement.
Athene Life benefits include:
- Guaranteed income: Allows you to create a guaranteed stream of income that can last as long as your retirement. The amount you receive can increase the longer you wait to start income payments.
- Growth potential: Pursue additional growth with interest credits that are based in part on the performance of an external market index.
- Protection from downside market risk: Your money is not directly exposed to the risks of the stock market or individual stocks.
- Tax-deferred: You don’t pay taxes on any growth until you withdraw the money.
- Death beneﬁt: Your annuity can offer your loved ones a quick source of funds to settle matters after your death. Your beneficiary is guaranteed your annuity’s full Accumulated Value or Minimum Guaranteed Contract Value, whichever is greater.
Athene Life and Annuity is available in all 50 states and the District of Colombia.
Nationwide has an A+ rating from both A.M. Best and Standard and Poor’s, an A1 rating from Moody’s, and a 90 Comdex Score.
The Nationwide Peak 10 Annuity is one of the many annuities offered by Nationwide Life and Annuity Company.
Nationwide’s Peak 10 Annuity provides principal protection. As long as you leave your money in the contract for a specified period, you are assured your account will not lose value due to stock market fluctuation.
Benefits from Nationwide include:
- Death benefit: Your beneficiary will receive the full account value
- Long-term care or confinement waiver: 100% of the contract may be withdrawn penalty-free if you are confined to a nursing home for a continuous 90-day period. Confinement must begin after the contract is issued.
- Free withdrawals up to 10% of your account value annually: Any distributions prior to age 59 may be subject to a 10% early withdrawal federal tax penalty.
- Terminal illness or injury waiver: 100% of the contract value may be withdrawn penalty-free after the first contract year if terminal illness or injury is diagnosed after the contract is issued.
There are two lifetime income options available; the Guaranteed Income Solution is included at no cost, and the Bonus Income+ Rider can be added for a fee.
American Equity is rated A- by A.M. Best, Fitch, and Standard & Poor’s, and also has a Comdex Score of 60.
American Equity provides a fixed index annuity under its AssetShield Annuity. This annuity is designed as an accumulation tool, but does not offer an optional Guaranteed Lifetime income rider.
However, each year at your policy’s anniversary you will have the ability to reallocate funds among the available options.
- Performance Rate Rider (PRR): An optional performance rate rider that provides the opportunity to increase your index annuity rates. The rider fee is locked for the length of your contract and is deducted from your account value on the last day of each term.
- Rate Integrity Rider: Allows for a waiver of surrender charges upon the termination of the annuity contract. During the waiver election period, American Equity will waive surrender charges if they declare a cap or participation rate for any crediting strategy. This includes the rate integrity rider that is less than or equal to the surrender charge waiver rate.
- Enhanced Benefit Rider: There is no charge for this annuity rider. It is automatically included for owners under age 75. It adds additional liquidity to your fixed index annuity with a qualified nursing care and terminal illness benefit waiver.
American Equity also provides free withdrawals, a death benefit paid to any surviving joint owners, and a maximum premium of $1.5 million if you are under the age of 69 upon the date of purchase.
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Life Insurance Companies That Offer Fixed Index Annuities: Key Takeaways
Income payments from a fixed annuity can be guaranteed for life, making life after retirement less stressful when having to figure out your plans for your future.
By choosing any of the companies listed above, you may guarantee yourself a safe financial future for yourself and your family, even after death.
Now that you’ve seen what life insurance companies that offer fixed index annuities can provide for you, enter your ZIP code into our free tool to start comparing life insurance quotes in your area today.