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2023’s Top 5 Annuity Providers: A Comprehensive Review

Finding the right annuity provider is crucial for your financial planning. Our comprehensive review ranks the top 5 annuity providers of 2023, offering insights to help you make an informed decision. Last Updated: November 25, 2023"
2023’s Top 5 Annuity Providers: A Comprehensive Review
1

Annuity General

Best Value Annuity
9.5
Editor Choice
Annuity General

Annuity General offers a unique approach to retirement planning by matching clients with local financial professionals based on a few simple questions. They cover a wide range of locations across the U.S. and focus on providing annuities as a guaranteed income stream during retirement

POSITIVES
  • Personalized Service: Tailored approach with a local financial professional.
  • Wide Coverage: Service available in almost every city and town in the U.S.
  • Income Guarantee: Some annuities offer a lifetime income guarantee
    2

    Annuity Expert

    Top-Value Annuity Runners-Up
    8
    Annuity Expert

    Provide a steady, predictable income and are considered a safe investment, ideal for nearly retired or risk-averse individuals. They offer tax deferral on earnings and principal and interest rate protection but might suffer from inflation risk and limited growth potential

    POSITIVES
    • Guaranteed Principal and Interest Rates: These annuities provide a guaranteed return on your investment, offering stability and predictability in your financial planning
    • Fixed Payments: You receive a set amount at regular intervals, making it easier to budget and plan for the future
    • Tax Deferral: The investment grows tax-deferred, meaning you don’t pay taxes on the earnings until you withdraw them, allowing for potential compounded growth
      3

      Annuity National

      Best Personalized Service
      7.8
      Annuity National

      Annuity National offers a unique approach to retirement planning, focusing on custom-tailored strategies. They match clients with experienced financial professionals, ensuring comprehensive support in retirement planning.

      POSITIVES
      • Personalized Retirement Strategies: Annuity National utilizes advanced tools and proprietary software to develop personalized financial retirement strategies unique to each individual’s situation
      • Professional Expertise: Their financial professionals are thoroughly vetted and trained, ensuring reliable and fiduciary-minded advice for clients
      • Cost Efficiency: Their approach and tools aim to secure the best rates for clients and potentially save on fees, adding to the financial efficiency of their strategies
        4

        American National

        Best for Guaranteed Stability
        7.5
        American National

        American National’s annuities are designed to provide supplemental retirement income, ensuring a stable and predictable income stream for the golden years.

        POSITIVES
        • Tax-Deferred Growth: The initial investment grows tax-free, with taxes only payable on the income received, allowing for efficient wealth accumulation​.
        • Fixed Rate of Return: This feature provides peace of mind by eliminating market uncertainty and ensuring a predictable return on your investment.
        • Flexible Access to Funds: American National offers several options for partial withdrawals or conversions to income payments, albeit subject to taxes and surrender charges​.
          5

          Allianz

          Best for Market-Savvy Investors
          6
          Allianz

          These products are designed to offer a balance between performance potential and protection level. However, they also carry risks, including loss of principal, and returns and principal will fluctuate with market conditions​

          POSITIVES
          • Balance of Risk and Return: Offers a mix of performance potential and asset protection.
          • Tax-Deferred Growth: Allows for the growth of investments without immediate tax implications.
          • Death Benefit: Provides a built-in death benefit for added security.
          • Market Risk: The principal and returns are subject to market fluctuations.
          • Risk of Loss: Investment in these annuities carries the risk of loss of principal.
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