How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- New York Life leads for income annuities and top financial strength ratings.
- MassMutual leads for mutual-company stability and flexible payout options.
- TIAA suits educators and nonprofit workers with strong retirement income options.
- Pacific Life pairs high ratings with competitive income annuity payouts.
- Annuity rates are personalized quotes, so compare quotes before buying.
Quick comparison
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The best annuity companies
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New York Life is the largest mutual life insurance company in the United States and the number one provider of income annuities per LIMRA every year since 2006. It holds the highest financial strength ratings currently awarded to any US life insurer from all four major agencies, and ranked second in 2025 fixed annuity sales at $16.97 billion. For a buyer who wants the strongest insurer behind a decades-long income promise, New York Life is the default consideration.
Rates are personalized quotes based on age, state, premium, and payout option, not published prices, and sales are advisor-led rather than self-serve. For a retiree who values strength and service reputation above all, New York Life leads.
What we like- Largest mutual life insurer in the US
- Highest ratings from all four major agencies
- Number one income annuity provider per LIMRA since 2006
- Strong fixed sales
Watch out for- Rates are personalized quotes, not published prices
- Advisor-led sales, less self-serve
- Surrender charges apply on early withdrawals
Starting priceSee website
Free planSee website
MassMutual is a policyholder-owned mutual company with an A++ AM Best rating and 175 years of history. Its RetireEase immediate annuity offers one of the widest menus of payout options in the industry, including period-certain terms from 5 to 50 years, and it ranked third in 2025 fixed annuity sales at $12.21 billion. Mutual structure and conservative management appeal to buyers who want an insurer built for the long haul.
Rates are personalized quotes, and the process is advisor-led. For a buyer who wants mutual-company stability with flexible payout choices, MassMutual is a top pick.
What we like- Policyholder-owned mutual company with 175 years of history
- A++ AM Best rating
- Wide payout menu including 5 to 50-year period-certain terms
- Third in 2025 fixed sales
Watch out for- Rates are personalized quotes
- Advisor-led process
- Surrender charges on early withdrawals
- Product availability varies by state
Starting priceSee website
Free planSee website
Northwestern Mutual sits in the highest ratings tier from major agencies, with a long history and a large advisor network. Its diversified annuity lineup covers fixed, indexed, and variable products, and advisor support helps buyers match product type to retirement goals. Strength ratings matter for annuities, since the promise spans decades.
Rates are personalized quotes, and sales run through advisors rather than online checkout. For a buyer who wants top-tier strength with advisor guidance, Northwestern Mutual is a strong choice.
What we like- Highest ratings tier from major agencies
- Long history and large scale
- Strong advisor network
- Diversified annuity lineup
Watch out for- Rates are personalized quotes
- Advisor-led sales
- Product details vary by state
- Higher minimums on some products
Starting priceSee website
Free planSee website
TIAA pairs the highest ratings tier from major agencies with strong retirement income options, and an A++ AM Best rating. Founded to serve educators and nonprofits, it remains a natural fit for teachers, professors, and nonprofit workers building retirement income. Fixed annuity sales reached $3.20 billion in 2025.
Some products are limited to eligible participants, and fixed sales trail larger rivals. For an educator or nonprofit worker who wants a trusted retirement income provider, TIAA is the natural first quote.
What we like- Highest ratings tier from major agencies
- Strong retirement income options
- Long history serving educators and nonprofits
- A++ AM Best rating
Watch out for- Rates are personalized quotes
- Some products limited to eligible participants
- Fixed sales smaller than top rivals
- Advisor access varies
Starting priceSee website
Free planSee website
Pacific Life is a policyholder-owned insurer with 155+ years of history and competitive income annuity payouts. Its Pacific Income Provider immediate annuity offers optional 2 to 4 percent annual inflation increases, and the company posts one of the lowest complaint rates in the industry. Fixed annuity sales reached $5.42 billion in 2025, with an A+ AM Best rating.
Rates are personalized quotes, and product availability varies by state. For a retiree who prioritizes payout competitiveness with strong ratings, Pacific Life is a reassuring choice.
What we like- Policyholder-owned insurer with 155+ years of history
- A+ AM Best rating
- Competitive income annuity payouts
- Optional 2 to 4 percent annual inflation increases
Watch out for- Rates are personalized quotes
- Fixed sales of $5.42 billion trail top rivals
- Product availability varies by state
- Surrender charges apply
Starting priceSee website
Free planSee website
Lincoln Financial is a top-10 US annuity seller with 120 years of history, and its Lincoln Insured Income immediate annuity offers one of the broadest payout menus available. Product range covers fixed, indexed, and variable annuities, giving buyers choice across risk levels. Fixed annuity sales reached $2.43 billion in 2025.
AM Best rates Lincoln A, below A++ rivals, after a 2022 downgrade, though ratings have since stabilized. For a buyer who wants payout variety from a large established insurer, Lincoln is worth a quote.
What we like- Top-10 US annuity seller with 120 years of history
- Broad payout menu on its insured income annuity
- Large product range
Watch out for- AM Best rating of A, below A++ rivals
- Rates are personalized quotes
- Ratings stabilized after a 2022 downgrade
- Surrender charges apply
Starting priceSee website
Free planSee website
Nationwide is a Fortune 100 mutual company celebrating its centennial in 2026, with an A+ AM Best rating and $7.18 billion in 2025 fixed annuity sales. Its INCOME Promise Select immediate annuity stands out for a low $10,000 minimum, cost-of-living options up to 5 percent, and a rare emergency-liquidity feature. Deferred income annuities offer death benefits and cash-refund riders that return unused premium to heirs.
Rider costs add up, and rates are personalized quotes. For a buyer who wants flexibility between income and legacy protection, Nationwide rider options stand out.
What we like- Fortune 100 mutual company celebrating its centennial in 2026
- A+ AM Best rating
- Low $10,000 minimum on its income annuity
- COLA options up to 5 percent
- Emergency-liquidity feature
Watch out for- Rates are personalized quotes
- Fixed sales of $7.18 billion trail top two rivals
- Rider costs add up
- Product availability varies by state
Starting priceSee website
Free planSee website
Prudential Financial is the largest US life insurer by total assets at about $1.6 trillion, with an A+ AM Best rating and a broad annuity range. It still issues a retail immediate income annuity, though marketing today centers on buffered and indexed products. Scale and breadth suit buyers who want one large insurer for multiple retirement products.
Retail immediate annuity marketing is limited, and fixed sales of $2.70 billion trail larger rivals. For a buyer who wants a very large insurer with broad product choice, Prudential is worth including in a comparison.
What we like- Largest US life insurer by total assets at about $1.6 trillion
- A+ AM Best rating
- Broad annuity range including buffered and indexed products
- Long history
Watch out for- Rates are personalized quotes
- Retail immediate annuity marketing is limited today
- Fixed sales of $2.70 billion trail rivals
- Surrender charges apply
How we chose
We compared companies on financial strength ratings, 2025 fixed annuity sales, payout options, and rider flexibility, using LIMRA sales data and published rating tables from 2026. We favored insurers US buyers can use today with strong ratings and a distinct strength. We did not claim hands-on testing, and annuity rates are personalized quotes, so figures here are illustrative, not offers. This article is general information, not financial advice: annuities are complex contracts with surrender charges, fees, and tax rules, so talk to a qualified financial planner and read the contract before buying.
How to pick the right annuity company
Start with the income goal. Immediate income points to New York Life, MassMutual, Pacific Life, and Nationwide, while growth with downside protection points to indexed products from Prudential and Lincoln. Then check financial strength: ratings from AM Best, S and P, Moody's, and Fitch signal claims-paying ability over decades, and A++ and A+ ratings lead here. A weaker rating with a higher payout is a trade-off, not a bargain, since the promise lasts as long as you do.
Then compare quotes, not headlines. Request quotes for the same age, premium, and payout option from at least three companies, since your exact figure depends on age, state, premium, and payout choice. Check surrender periods, penalty-free withdrawal terms, rider costs, and inflation options before signing, since surrender charges punish early withdrawals. Also check state guaranty coverage limits, which vary by state and cap protection if an insurer fails.
Common mistakes cost retirees dearly. Buyers chase the highest headline rate without checking surrender periods, or buy a variable annuity without understanding fees and market risk. Others put all retirement savings into one annuity, losing liquidity for emergencies. Keep an emergency fund outside the annuity, and treat an annuity as one piece of retirement income alongside Social Security, pensions, and savings.
Joint and survivor options deserve attention for couples. A single-life payout pays more monthly but stops at death, while a joint payout continues to the survivor at a lower monthly amount, so couples should compare both quotes before choosing. Period-certain options guarantee payments for a set term even if death comes early, protecting heirs in the first years.
Frequently asked questions
What is the best annuity company?
New York Life for income annuities and strength, MassMutual for mutual stability, and Pacific Life for competitive payouts. Compare personalized quotes from at least three companies before buying.
How much does an annuity cost?
Annuities are priced as a lump-sum premium, not a monthly fee, and income depends on age, premium, payout option, and state. Nationwide income annuities start at a $10,000 minimum, while other minimums vary.
Are annuities safe?
Fixed annuities offer guaranteed income from the insurer, but safety depends on the insurer financial strength and state guaranty limits. Choose highly rated insurers and read the contract.
What is the difference between fixed, indexed, and variable annuities?
Fixed annuities pay a guaranteed rate, indexed annuities link growth to a market index with caps, and variable annuities invest in market subaccounts with more risk and fees.
Can I withdraw money from an annuity early?
Early withdrawals may incur surrender charges, though many contracts allow limited penalty-free withdrawals each year. Check surrender periods before buying.
Should I put all my savings into an annuity?
No. Keep an emergency fund outside the annuity and treat it as one piece of retirement income alongside Social Security, pensions, and savings. Talk to a qualified planner first.
Sources we checked (8)
- https://www.newyorklife.com
- https://www.massmutual.com
- https://www.northwesternmutual.com
- https://www.tiaa.org
- https://www.pacificlife.com
- https://www.lincolnfinancial.com
- https://www.nationwide.com
- https://www.prudential.com
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.
New York Life
MassMutual
Northwestern Mutual
TIAA
Pacific Life
Lincoln Financial
Nationwide
Prudential