I never like these lists

May 7, 2024 by Sheryl J. Moore

I never like these lists, simply because the “best” is in the needs, goals, and objectives of the annuity purchaser…yet-

Bankrate needs to do better “research” with their list of “Best Annuity Companies.”

Allianz Life does not have any annuities that exceed a 10-year surrender charge period. And they offer three different types of deferred annuities.

And poor MassMutual! They got a negative mark because “You need to schedule a call with a company representative to get more information about products.” If you’re talking about insurance agents, that is the case with most every annuity!

Nearly half of New York Life Insurance Company’s annuities have a minimum premium of less than $10,000. And here again, they cite “Variable annuities can only be purchased through financial professionals.” That is the case with most every VA. (SN: the negative mark for not having indexed annuities will fall on deaf ears!)

Poor Nationwide- “Many of its non-variable annuities are only available to investment professionals.” Well, duh!

As for Prudential Financial, they have 20 different deferred annuities; not nine. Yet, here they go with “Three out of the nine annuities offered are only available to investment advisors and marketing organizations.” Do they expect all insurance companies to sell annuities direct-to-consumer?

Precisely 40% of Pacific Life’s annuities are available with less than a $25,000 minimum premium. AND- THEY DO OFFER ANNUITIES IN ALL 50 STATES!

There are too many mistakes to mention in the section explaining annuities. I give up! Bottom line- BankRate.com should NOT be trusted as an independent source of information on annuities.