7 Best Fixed Annuity Companies of 2026 Reviewed

Key Highlights

As we approach 2026, the financial landscape continues to evolve, making it crucial for individuals seeking stability and security in their investments to stay informed about their options. Fixed annuities can be an excellent choice for those who are looking to ensure a reliable income stream during retirement. However, with numerous companies offering various products, navigating this market can feel overwhelming. In this blog post, we will review the seven best fixed annuity companies of 2026, examining their offerings, strengths, and features that set them apart. With our insights and comparisons, you’ll be equipped to make informed decisions that align with your financial goals and needs. Let’s dive into the details!

Introduction

Are you looking for a way to secure a reliable source of income during your retirement years? A fixed annuity could be a valuable tool in your financial plan. This contract with an insurance company offers a guaranteed return, providing you with a predictable income stream. However, with so many options available, choosing the right annuity company is crucial. You need a provider with excellent financial strength to ensure your payments are secure for years to come.

7 Best Fixed Annuity Companies of 2026 Reviewed

Finding the perfect fixed annuity means looking at more than just the interest rate. The best annuity company for you will depend on your specific retirement needs, whether you are looking for simple income annuities or more complex annuity products. To help you navigate the choices, we’ve reviewed the leading providers for 2026, focusing on factors that matter most to consumers.

We analyzed each company’s financial strength ratings, customer service reputation, and the variety of their offerings. While some companies excel in fixed index annuity options, others are known for their straightforward fixed rate products. This guide will help you compare top-rated companies like Allianz, MassMutual, and New York Life to find a provider you can trust with your retirement savings.

1. Allianz Life Insurance Company of North America

Allianz Life is a major player in the annuity market, particularly well-regarded for its fixed index annuity products. With billions in fixed annuity sales, the company demonstrates its popularity among consumers looking for a balance of growth and protection. Allianz Life offers a variety of fixed index annuities, some of which come with no annual fees.

A standout feature of some Allianz products is the “Index Lock,” which allows you to lock in an index value at any point during your crediting period. This gives you more control over your potential earnings. Your earnings grow tax-deferred, meaning you won’t owe income tax until you start receiving payments.

When it comes to stability, Allianz Life boasts strong financial strength with an A+ (Superior) rating from AM Best. This high rating provides confidence that the company can meet its long-term financial obligations to its policyholders, which is a critical factor when considering a guaranteed rate of return for your retirement.

2. MassMutual

For retirees who prioritize excellent customer service and unquestionable financial stability, MassMutual is a top contender. The company earns high marks for its user-friendly website and app, making it easy for customers to manage their annuity contracts. Founded in 1851, MassMutual has a long-standing reputation as a trusted annuity company.

One of the most compelling reasons to consider MassMutual is its exceptional financial health. It holds an A++ (Superior) rating from AM Best, the highest possible rating, along with high marks from other major rating agencies. This level of financial stability is crucial for anyone depending on an annuity for lifetime income in retirement.

Through its subsidiary, MassMutual Ascend, the company offers a range of products, including fixed, indexed, and immediate annuity options. These varied annuity contracts allow retirees to choose a plan that best fits their income needs and risk tolerance, making MassMutual a highly recommended choice for those planning their post-work years.

3. New York Life Insurance Company

New York Life stands out as one of the world’s largest and most reputable life insurance companies. Its financial strength ratings are top-tier, holding the highest possible A++ (Superior) rating from AM Best. This exceptional rating gives customers peace of mind that the company is well-positioned to deliver on its promises of lifetime income.

The company offers a wide range of annuity products designed to meet different retirement needs. You can choose from fixed deferred annuities, which allow your money to grow over time, or income annuities that provide immediate payments. New York Life is also known for its strong and consistent customer satisfaction scores from J.D. Power.

A unique advantage of choosing New York Life is its transparent and easy-to-use weekly annuity rate comparison chart. This tool allows you to see current rates on its most popular fixed annuity products, making it simpler to compare your options and make an informed decision for your financial future.

4. Athene Annuity and Life Company

Athene Annuity and Life Company has established itself as a leader in the fixed annuity market, ranking as the largest provider of fixed annuities by sales in 2024. This annuity company is a great choice if you are looking for a variety of options to meet your financial goals, including fixed, immediate, and fixed indexed annuity products.

Athene offers annuities with minimum initial deposits starting as low as $10,000, making them accessible to a wider range of investors. One of its standout features is an optional return-of-premium death benefit rider, which ensures your beneficiaries receive the remaining value of your contract. This can provide valuable peace of mind for your loved ones.

When choosing a provider, it’s important to look at factors like product features and potential fees. While Athene’s annuities generally do not have annual contract fees, some optional riders come at an additional cost. You should also be aware of potential surrender charges if you need to withdraw your money early.

5. Nationwide

Nationwide is a well-known name among annuity providers, offering a diverse selection of products to fit various retirement strategies. You can choose from fixed, variable, registered index-linked, and immediate annuities, giving you the flexibility to find a solution that aligns with your desired growth potential and risk comfort level.

A key benefit of Nationwide’s offerings is the inclusion of enhanced death benefit riders on many of their annuities. For instance, a return-of-premium death benefit ensures that your beneficiaries will receive at least what you paid into the contract. They also offer riders that can increase the value of this death benefit over time.

Like other providers, Nationwide’s contracts include surrender fees for early withdrawals, so it’s essential to understand the terms before you invest. The company holds an A+ rating from AM Best, indicating strong financial health, and is highly rated for customer satisfaction, making it a reliable choice for your retirement savings.

6. Pacific Life

With over 150 years in the business, Pacific Life is an insurance giant with a stellar reputation. This annuity company holds an A+ rating from AM Best for its financial stability and consistently receives high scores for customer service, making it a trusted choice for securing a guaranteed income stream in retirement.

Pacific Life provides a comprehensive range of annuity types, including fixed, immediate, variable, and even a deferred annuity. This variety allows you to select a product that matches your timeline and financial objectives. While some of its fixed annuity products have higher minimum premiums, starting at $25,000, they offer competitive annuity rates and features.

The terms of annuity payouts can differ significantly among companies. For example, Pacific Life’s Pacific Choice 2 variable annuity advertises a five-year withdrawal period, which is more generous than the industry standard of seven years. This flexibility can be a major advantage if you anticipate needing access to your funds sooner.

7. TIAA

TIAA has a long history of serving educators, healthcare workers, government employees, and nonprofit professionals with low-fee annuity options. However, the company has expanded its reach, and its TIAA IRA program now offers lifetime income solutions to all Americans, regardless of their profession.

The company is known for its strong financial strength and unique profit-sharing model. TIAA shares a portion of its profits with contract holders through higher interest rates and loyalty bonuses, which can increase your contract value over time. The TIAA Traditional annuity provides a guaranteed principal and a minimum fixed rate, offering a secure foundation for your retirement.

TIAA offers both fixed and variable annuities, including an option invested in real estate. With minimum deposits lower than many competitors, TIAA makes it easier to start building your retirement savings. Its commitment to customer satisfaction and financial stability makes it a top-tier choice for securing reliable income.

How We Selected the Best Fixed Annuity Companies

To bring you this list of the best fixed annuity companies, we conducted thorough research on the largest providers in the market. Our process involved a deep look into unbiased, third-party sources to ensure our selections were objective and trustworthy.

We prioritized companies with excellent annuity company ratings for financial strength from a top rating agency like AM Best. We also analyzed customer satisfaction scores, total annuity sales, and the variety of fixed annuity products available. This approach allowed us to identify providers that are not only financially sound but also offer competitive features and a positive customer experience.

Financial strength ratings and agency reports

When you buy an annuity, you’re entering a long-term contract, so you need assurance that the company will be around to make payments for decades to come. This is where financial strength ratings become incredibly important. These ratings, issued by an independent rating agency like AM Best, Moody’s, or S&P, assess an insurer’s ability to meet its financial obligations.

A high credit rating is a strong indicator of financial stability. Companies with top ratings, such as A++ or A+, have demonstrated a superior ability to pay claims, even during economic downturns. We recommend choosing a provider with at least an A rating from AM Best to ensure your retirement income is secure.

Here are the AM Best ratings for the companies we reviewed:

Guaranteed rates and payout options

One of the main attractions of a fixed annuity is its guaranteed rate of return. This means your money grows at a predictable pace, shielded from market volatility. When comparing companies, it’s crucial to look at the rates they offer, as even a small difference can have a significant impact on your savings over time.

Beyond the growth phase, you’ll need to consider the payout options. Do you want a stream of income for a specific number of years, or do you need guaranteed lifetime income? Most companies offer flexible choices, including single-life payouts or joint-and-survivor options that continue payments to a spouse after you pass away.

Some providers specialize in income annuities designed to start payments almost immediately, while others focus on deferred annuities that accumulate value for years. The best choice depends on your retirement timeline and income needs. Always review the contract carefully to understand how your payouts will be calculated and distributed.

Product features and rider availability

Not all annuity products are created equal. Different types of annuities offer unique benefits, from the simple, guaranteed growth of a traditional fixed annuity to the potential for higher returns with index annuity products. The best providers offer a range of options to match diverse financial goals.

Additionally, many companies allow you to customize your contract with riders. These are optional add-ons that provide extra benefits for an additional fee. Rider availability can be a key differentiator between providers, allowing you to tailor your annuity to your specific needs.

Common riders include:

• A death benefit rider, which guarantees a payout to your beneficiaries.
• A cost-of-living adjustment rider to help your income keep pace with inflation.
• A guaranteed lifetime withdrawal benefit to ensure you don’t outlive your savings.
• Waivers for nursing home or terminal illness expenses.

Customer satisfaction and reputation

An annuity is a long-term partnership, so you want to choose an annuity company with a strong reputation for taking care of its customers. Financial strength is vital, but so is the quality of service you’ll receive over the life of your contract. That’s why it’s important to review customer satisfaction ratings from independent sources.

Organizations like J.D. Power conduct annual studies on customer satisfaction, ranking companies on everything from product offerings to communication and problem resolution. High customer satisfaction ratings often indicate that a company is transparent, responsive, and easy to work with.

You can also research a company’s reputation by reading customer reviews and checking for complaints with organizations like the National Association of Insurance Commissioners (NAIC). A provider with both strong financial ratings and a positive service record is a sign of a truly reputable and dependable company.

Key Features Offered by Leading Fixed Annuity Providers

When you explore fixed annuity contracts from leading annuity providers, you’ll find several common features designed to offer security and predictability. These products guarantee your principal and provide a fixed interest rate for a set period of time, giving you a safe way to grow your retirement savings.

The promises made by these contracts are backed by the financial strength of the issuing life insurance company. Understanding these core features will help you compare different providers and find a fixed annuity that best suits your needs. Below, we’ll explore some of the most important features in more detail.

Guaranteed fixed interest rates

The cornerstone of a traditional fixed annuity is its guaranteed rate of return. Unlike investments tied to the stock market, a fixed annuity offers a set interest rate for a specific term, which could be anywhere from one to ten years. This provides a level of predictability that many retirees find comforting.

This fixed rate is clearly outlined in your annuity contract, so you know exactly how much growth potential your money has. This feature makes fixed annuities similar to a certificate of deposit (CD) from a bank, but with the added benefit of tax-deferred growth. The interest you earn isn’t taxed until you begin making withdrawals.

The guaranteed fixed interest rates offered can vary significantly from one annuity company to another and are often more attractive when overall interest rates are higher. It’s always a good idea to shop around to find the most competitive fixed rate available.

Flexible payout options for retirees

One of the most valuable features of an annuity is its ability to provide a steady income stream in retirement. Leading providers offer flexible payout options to suit the unique needs of retirees. You can typically choose to receive payments for a set period, such as 10 or 20 years, or you can opt for lifetime income that you cannot outlive.

For couples, many companies offer a joint-and-survivor option. This ensures that if one spouse passes away, the surviving spouse will continue to receive payments for the rest of their life. This can be a crucial feature for ensuring a partner’s financial security.

When you start receiving payments, the earnings portion of your annuity will be subject to income tax at your ordinary rate. Understanding these tax implications is an important part of planning your retirement income strategy. These flexible payout options make fixed annuities an excellent choice for retirees in the United States seeking financial security.

Death benefits and beneficiary protection

A common concern for annuity buyers is what happens to their money if they pass away before receiving all their payments. Most annuity contracts offer some form of death benefit to provide beneficiary protection. This feature ensures that your remaining funds are passed on to your loved ones, helping you meet your financial goals for your legacy.

The standard death benefit is often the remaining contract value. However, many companies offer enhanced options, usually through a death benefit rider. These can provide greater principal protection for your heirs. For example, some riders guarantee that your beneficiaries will receive at least the total amount of premiums you paid into the annuity.

Here are some common death benefit options:

• Lump-Sum Payment: Your beneficiary receives the remaining value in a single payment.
• Spousal Continuation: A surviving spouse can take over the contract as their own.
• Annuitized Payments: Beneficiaries can receive the death benefit as a stream of payments over several years.
• Return of Premium: Ensures your heirs get back at least your initial investment.

Surrender periods, fees, and liquidity

Annuities are long-term retirement products, and accessing your money early can come with costs. Most annuities have a surrender period, typically lasting five to ten years. If you withdraw more than a specified amount during this time, you will incur surrender charges. These fees usually start high and decrease each year until the surrender period ends.

Despite these restrictions, most annuity contracts offer some liquidity. Companies typically allow you to withdraw a certain percentage of your contract value—often up to 10%—each year without paying surrender fees. This provides a safety net for unexpected expenses.

It’s also important to be aware of other potential annuity fees. While many fixed annuities have no annual administrative fees, some may charge for optional riders. Always read the fine print to understand all the costs involved.

Key points on fees and liquidity:

• Surrender Charges: Penalties for early withdrawals that decline over time.
• Free Withdrawals: Most contracts allow for annual penalty-free withdrawals up to a certain limit.
• Rider Fees: Optional features like enhanced death benefits may come with an annual fee.

How to Compare Top Fixed Annuity Companies in the US

Choosing the right fixed annuity requires careful comparison shopping. You’ll want to look beyond just the advertised annuity rates and consider the overall value each annuity company provides. The best providers offer a wide range of annuity types to fit different needs and have excellent financial strength ratings.

By taking the time to evaluate each provider’s offerings, fees, and reputation, you can find a fixed annuity that aligns with your retirement goals. The following sections will guide you on where to find the best rates and what key factors to consider when making your decision.

Where to find the best fixed annuity rates

Finding the best fixed annuity rates starts with doing some online research. Many annuity providers post their current interest rates directly on their websites. You can use your web browser to visit the sites of the top companies and create a list to compare their offerings side-by-side.

Beyond individual company sites, there are also independent financial websites and tools that gather annuity rates from multiple providers. These platforms can save you time and help you see a broader view of the market. They often include details on surrender periods and other important contract terms alongside the fixed rate.

Remember that the highest interest rate doesn’t always mean the best deal. It’s crucial to balance a competitive rate with strong annuity company ratings for financial strength. A slightly lower rate from a highly-rated, stable company may be a safer bet for your long-term retirement security. Speaking with a qualified financial professional can also help you compare options.

What to consider when evaluating annuity providers

When you’re ready to evaluate annuity providers, it’s helpful to have a checklist of key factors to consider. This will ensure you’re making a well-rounded decision that goes beyond just the interest rate. The right fixed annuity should align with your personal financial goals and risk tolerance.

First and foremost, assess the provider’s financial strength. An annuity is only as secure as the company that backs it, so look for providers with high ratings from agencies like AM Best. Next, review the product features, including payout options, death benefits, and any available riders to see if they match your needs.

Finally, don’t forget to look into customer service and fees. A company with a great reputation for helping its clients and transparent fee structures will make for a much better long-term experience.

Key considerations include:

• Financial Strength: Check ratings from AM Best, S&P, and Moody’s.
• Product Features: Ensure the annuity aligns with your income needs and financial goals.
• Fees and Customer Service: Look for transparent costs and positive customer reviews.

Conclusion

In summary, choosing the right fixed annuity company is critical for ensuring financial stability in your retirement years. Each of the seven companies reviewed offers unique features that can cater to different needs, from guaranteed fixed interest rates to flexible payout options. By understanding how to compare these providers based on essential factors like financial strength and customer satisfaction, you can make an informed decision that aligns with your long-term goals. Remember, the right annuity can provide peace of mind and security as you plan for your future. If you’re ready to explore personalized options or need assistance, feel free to reach out for a free consultation today!

Frequently Asked Questions

Which fixed annuity company has the highest financial strength rating in 2026?

Companies like New York Life, MassMutual, and TIAA hold the highest financial strength rating of A++ (Superior) from AM Best. This top-tier credit rating indicates that the annuity company has an exceptional ability to meet its ongoing insurance obligations, making their fixed annuity products among the safest available.

How do fixed annuity payouts and terms differ among top companies?

Payouts and terms for a fixed annuity vary widely. Differences include the length of the surrender period and the size of surrender charges, the structure of annuity fees, and the variety of payout options. Some may offer more flexible lifetime income choices, while others have more generous withdrawal provisions.

Are fixed annuities a good choice for retirees in the United States?

Yes, a fixed annuity can be an excellent choice for retirees in the United States, especially for those who prioritize safety and predictability. These income annuities provide a guaranteed, steady income stream, which can supplement other retirement funds and provide lifetime income you can’t outlive.