Top 10 Fixed Index Annuity Companies In 2024
Top Fixed Indexed Annuities in the Current Market
There are numerous top-tier fixed indexed annuity companies, and rates vary annually. Here are our independent top picks for fixed indexed annuities in the current market, tailored to different strategies.
National Life Group – Best For Highest Growth
National Life Group, also known as Life Insurance Company of the Southwest, offers the highest interest cap rates, specifically up to 16% point-to-point to the S&P500 at the time of this writing. With a 0% floor, this product averages around 9.87% long-term, making it ideal for those seeking long-term growth using the S&P500 as an index strategy. This is typically a single premium product, often a rollover from a retirement account.
Sentinel Security – Best Premium Bonus With Cap Rate
Sentinel Security offers a solid 10% premium bonus on your initial premium, providing an early boost to your retirement growth potential. Coupled with high cap rates for a fixed indexed product (currently at 12.25%), this product averages 8.08% long-term with the premium bonus included.
American Equity – Best For Lifetime Purchases
American Equity allows for lifetime purchases, enabling continual contributions to the annuity over time, which is uncommon among annuity companies. They also boast competitive S&P 500 interest cap rates of 10.5% or a participation rate of 60%, translating to long-term returns of 7.15% and 8.01%, respectively. This feature makes it an excellent choice for those looking for steady growth potential into retirement.
Allianz – Best For Immediate Lifetime Income
Allianz excels in providing immediate income through its fixed indexed annuities, offering top-tier products in the market. For immediate income needs rather than growth, Allianz consistently ranks in the top 3 among the top 25 companies, often securing the number 1 spot.
Sentinel Security – Best For Growth Under 10 Years
For guaranteed income within the next 10 years, Sentinel Security offers a compelling option. With a generous 15% premium bonus to accelerate growth and a fixed guaranteed 7.25% interest annually for up to 10 years, this product ensures significant growth potential, potentially doubling your investment in just 8 years.
American Equity – Best For Growth Under 20 Years
American Equity stands out for growth needs spanning more than 10 years. With a robust 10% premium bonus followed by a fixed 6.5% interest for up to 20 years, this product caters to long-term growth objectives. Additionally, it offers provisions for doubling payments in case of disability or long-term care needs within 5 years.
Athene – Best For Alternative Index Strategies
Athene leads in alternative index strategies beyond the S&P500, offering innovative options like UBS Innovative and AI Powered Global Opportunities. These indexes have shown impressive returns, sometimes exceeding 20% and even reaching 30% in certain years. While past performance isn’t indicative of future results, Athene’s alternative indexing strategies demonstrate strong potential.
Summary
While there’s no single “best” fixed indexed annuity, these selections highlight market leaders across various strategies. We collaborate with over 25 annuity companies to provide you with the best options tailored to your needs. To explore further, apply for an annuity, or assess your options in your state, fill out our quote form for personalized recommendations.
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