Annuity Companies

Annuity companies offer tax-sheltered pension plans as an option for retirement savings, in which participants contribute to annuities in exchange for future payments.
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Founded

1848

Employees

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About National Life Group

National Life Group® is a trade name of *National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA (FINRA.org) SIPC (SIPC.org), is a Broker/Dealer and Registered Investment Adviser. All companies referenced are affiliated.
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Founded

1995

Employees

501

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Not Provided

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About American Equity

An American-owned and operated company headquartered in the heart of the Midwest, American Equity Investment Life Insurance Company® is a leader in the fixed indexed annuities marketplace. American Equity’s growth and success is attributed to our dedication to excellent customer service and emphasis on building customer relationships.
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Founded

1961

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About Jackson

Our associates are passionate about their work, the value our products offer to society and the impact the company makes in the communities where they live and work. Headquartered in Lansing, Michigan, with offices in Nashville, Tennessee, and Chicago, Illinois, our employees are empowered to confront new challenges, bring fresh perspectives and define their own career paths.
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Founded

2004

Employees

501

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About Global Atlantic

Global Atlantic Financial Group, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help our customers address financial challenges with confidence. A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs. In addition, Global Atlantic offers custom solutions and responsive service for the capital, risk and legacy-business management of life and annuity insurance companies around the world.
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Founded

1868

Employees

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Not Provided

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About Pacific Life

For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations.
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Founded

1872

Employees

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Not Provided

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About Great American Insurance Group

Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed and fixed-indexed annuities in the retail, financial institutions and education markets. Great American Insurance Group has more than 30 specialty property and casualty insurance businesses; in 2018, approximately 55% of our gross written premium in our property and casualty operations was generated by business units with a Top 10 market ranking. Great American's annuity business is a leading provider of fixed-indexed annuities through financial institutions and consistently... Show More
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Founded

1851

Employees

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About MassMutual

Living mutual has always been at the core of our human existence, and it's the principle that's guided us since our founding in 1851. It's not a concept we invented, but one we champion for the simple reason that people take it for granted today.

While the world would have us strive for independence, the truth is when we depend on one another, we aren't just more secure - life is happier and more fulfilling. So as we celebrate our new identity, we're reminding everyone that who we are stays the same.
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Founded

1877

Employees

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About OneAmerica

The companies of OneAmerica have a solid foundation in the financial services marketplace dating back more than 140 years. During that tenure we have implemented a variety of retirement plan products and services to meet the financial needs of our clients. We are organized in a mutual holding company structure. From a business standpoint, the advantages of our mutual holding company structure are numerous. This structure supports our growth strategy by providing flexibility to bring other mutual insurance companies into the organization. It allows for efficiency in capital structure by providing both support for growth and stability for financial strength... Show More
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Founded

1992

Employees

200

Funding Summary

Not Provided

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About Plan Member

Headquartered in Carpinteria, California just south of Santa Barbara, PlanMember Financial Corporation is a leader in the retirement planning market with more than 500 representatives and over 40 regionally-based Financial Centers located across the country. Specializing in creating and servicing retirement plan solutions for nonprofit and for-profit employers and their employees, and for associations, unions, membership groups and their members, PlanMember offers a broad range of investment choices. We deliver unparalleled support and service in our commitment to help meet the retirement needs of individual investors and groups.
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Founded

1879

Employees

20,000

Funding Summary

33.5M Series C

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About Principal Financial

Principal Financial Group® helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals – offering innovative ideas, investment expertise and real-life solutions to make financial progress possible.
The Principal is an Affirmative Action and Equal Opportunity Employer and an E-Verify participant. All qualified applicants will receive consideration for employment without regard to of age, race, color, religion, gender identity, gender expression, pregnancy, national origin, citizenship status, disability, genetic...
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Founded

1909

Employees

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About Mutual of Omaha

Founded in 1909, Mutual of Omaha is a highly-rated, Fortune 500 organization offering a variety of insurance and financial products for individuals, businesses and groups throughout the United States. As a mutual company, Mutual of Omaha is owned by its policyholders and committed to providing outstanding service to its customers. Show More
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Founded

1907

Employees

3,500

Funding Summary

Not Provided

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About Reliance Matrix

Reliance Matrix is made up of Reliance Standard Life Insurance (established in 1907) and Matrix Absence Management (established in 1098), which have worked together as sister companies since 1997, providing integrated insurance and TPA services to clients. We are a leading provider of financial protection, absence management and supplemental health benefits solutions, driven by technology and
an integrated customer experience. Reliance Standard provides the insurance contracts. Reliance Matrix also encompasses First Reliance Standard Life Insurance Company, a New York subsidiary, and Standard Security Life Insurance Company of New York, which was acquired by Reliance Standard in January 2022. Reliance...
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Founded

1896

Employees

4,429

Funding Summary

10M Series B

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About Allianz Life

Allianz Life Insurance Company of North America (Allianz Life®) has been keeping its promises since 1896. As a leading provider of annuities and life insurance, today we carry on that tradition by helping Americans achieve their retirement income goals. We’re also part of Allianz SE, a global leader in the financial services industry with a presence in more than 70 countries and more than 142,000 employees worldwide.
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Founded

1905

Employees

1,001

Funding Summary

Not Provided

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About American National

American National has been building meaningful relationships with our clients, employees and surrounding communities for more than 110 years. We provide protection, security and comfort to more than 5 million policyholders who put their trust in our financial stability and strength.Our founder, William L. Moody Jr., envisioned a successful and trustworthy company that constantly strived to exceed expectations: “We see no reason why each year should not record a greater success than the preceding one.”.
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Founded

1835

Employees

10,001

Funding Summary

Not Provided

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About Aviva

Aviva Canada is one of the leading property and casualty insurance groups in the country, providing home, automobile, leisure/lifestyle and business insurance to 2.8 million customers. A subsidiary of UK-based Aviva plc, Aviva Canada has more than 4,000 employees focused on creating a bright and sustainable future for our customers and our communities.
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Founded

2017

Employees

1,001

Funding Summary

Not Provided

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About Brighthouse Financial

As one of the largest providers of annuities and life insurance in the U.S., we specialize in products designed to help people protect what they’ve earned and ensure it lasts. We are built on a foundation of experience and knowledge, which allows us to keep our promises and provide the value they deserve.
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Founded

1891

Employees

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Not Provided

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About Canada Life

On Jan. 1, 2020 The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company and two holding companies amalgamated. They are now one company – The Canada Life Assurance Company™. Show More
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Company Overview

Founded

1935

Employees

1,001

Funding Summary

Not Provided

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About CUNA Mutual Group

We were founded in 1935 by credit union pioneers, and our commitment to their vision continues today. We offer insurance and protection for credit unions, employees and members; lending solutions and marketing programs; TruStage™-branded consumer insurance products; and investment and retirement services to help credit unions and members achieve financial security and success.
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Founded

1862

Employees

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Not Provided

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About John Hancock

John Hancock is a company built on trust and integrity. Throughout our rich history which spans more than 150 years, we have remained true to the ideals on which our company was built, while also encouraging fresh insights and new ways of thinking. Whether it’s helping our clients plan for their financial future, helping local communities grow stronger, or helping our employees chart a course for their careers, we’re committed to offering help every step of the way. Because for us – a promise made, is a promise kept.
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Frequently Asked Questions

What is an Annuity?

An annuity is a financial product that refers to an insurance contract designed to pay out invested funds as a fixed income stream in the future. Investors contribute through monthly premiums or lump-sum payments. In return, the holding institution issues a stream of payments over a specified period or for the rest of the annuitant's life. Primarily used for retirement planning, annuities help individuals address the risk of outliving their savings by providing a reliable source of income during their post-employment years.

How do Annuities work?

Annuities work through individuals or investors making payments to an insurance company or financial institution as a lump sum or regular premiums. The money contributed is invested by the company to accumulate and grow over time, either on a tax-deferred basis for deferred annuities or for immediate payments with immediate annuities. There are different types of annuities, such as fixed, variable, and indexed annuities, each offering unique features and potential returns. The annuity provides a reliable income stream during the payout phase, which can be for a specified period or the annuitant's lifetime. However, annuities may come with fees and surrender charges if funds are withdrawn prematurely.

What is a Fixed Annuity?

A fixed annuity is a type of insurance contract that guarantees the buyer a specific, fixed interest rate on their contributions to the account. It offers a conservative and low-risk approach, providing individuals with a predictable and secure income stream during retirement. When an individual purchases a fixed annuity, they make a lump sum or regular premium payments to the insurance company. The company, in turn, invests the funds and promises a predetermined interest rate over a set period, typically several years. The interest earned on the principal is tax-deferred, and during the payout phase, the annuitant receives regular payments at the fixed interest rate, irrespective of market fluctuations. While fixed annuities offer stability, they may not keep pace with inflation, and early withdrawals may incur surrender charges. Despite this, for risk-averse individuals seeking reliable income in retirement, fixed annuities can be an attractive option to consider alongside other available choices.

What is a Variable Annuity?

A variable annuity is an insurance contract where the value fluctuates based on the performance of an underlying portfolio of sub-accounts. These sub-accounts are similar to mutual funds but lack ticker symbols, making them less convenient for investors to track. With a variable annuity, individuals have the flexibility to choose from various investment options offered by the insurance company. Unlike fixed annuities, the returns are not guaranteed and depend on how the investments perform in the market. The growth within a variable annuity is tax-deferred until payouts begin during the annuitant's retirement phase. While variable annuities provide the potential for higher returns, they also come with increased risk due to market volatility. They may also involve higher fees and expenses than other annuity options. As such, individuals should carefully assess their risk tolerance and investment goals.

What is a Deferred Annuity?

A deferred annuity is an insurance contract with two distinct phases: the accumulation phase and the payout phase. It is referred to as "deferred" because the annuitant postpones receiving payments or income until later, typically during retirement. During the accumulation phase, the funds invested in the annuity grow on a tax-deferred basis, allowing earnings to compound without immediate taxation. The provider makes regular income payments or a lump sum to the annuitant at the chosen payout date. This sets deferred annuities apart from immediate annuities, which start paying right after the contract is established.

What is a Non Qualified Annuity?

A non-qualified annuity is funded with after-tax money, meaning that the funds used to purchase the annuity have already been taxed. Unlike qualified annuities, which are typically purchased with pre-tax dollars from retirement accounts like 401(k)s or IRAs, non-qualified annuities are funded with money already subject to income tax. Non-qualified annuities are often used to supplement retirement savings, especially for individuals who have maximized their contributions to qualified retirement accounts or those looking for additional tax-deferred growth options outside traditional retirement plans.

What is an Annuity Fund?

An annuity fund is a financial pool or investment portfolio managed by an insurance company or financial institution to fund and support annuity contracts. When individuals purchase annuities, their payments are often pooled together into a collective fund. This fund is then invested by the insurance company or institution to generate returns and provide the income stream for the annuitants. Annuity funds can be structured in various ways, depending on the type of annuities offered and the investment strategies employed by the managing entity. The funds may include a mix of different assets, such as stocks, bonds, mutual funds, or other securities, depending on the annuity's type and features.

Are Annuities a Good Investment?

Annuities can be suitable depending on individual financial goals and risk tolerance. They offer guaranteed income, tax-deferred growth, and the potential for lifetime income, addressing the risk of outliving savings. However, annuities come with high fees and limited liquidity during accumulation. Fixed annuities may not keep up with inflation, and some investors may find better returns in other investment vehicles. It's crucial to carefully evaluate the contract's terms and features to ensure it aligns with one's financial needs. Consulting with a financial advisor can help determine if an annuity fits into a comprehensive and diversified financial plan.

What is an Annuity Provider?

An annuity provider is a financial institution or insurance company that offers and manages contracts. These companies design, market, and sell annuities to individuals seeking to secure a steady income stream for retirement or other long-term financial goals. Annuity providers play a vital role in the annuity market and provide various types of annuities to cater to the different needs and preferences of investors.

Can I transfer my Annuity to another Provider?

In most cases, you can transfer your annuity to another provider through a process known as a 1035 exchange. A 1035 exchange allows you to transfer the cash value of your existing annuity to a new annuity with a different insurance company without incurring any immediate tax consequences. This transfer is authorized by the Internal Revenue Code Section 1035.

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