Disclosure: Includes all insurers on the Blueprint Income platform.
The annuity’s guarantee is subject to the claims-paying ability of the insurer. 3 & 4 year $100,000 fixed annuity rates as of 4/1/2020 from blueprintincome.com . Despite significant market volatility, excess capital increased 84% from $612 million at Venerable’s inception on June 1, 2018 to over $1.1 billion at March 31, 2020. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. Liquidity is another strength. All data as of 4/1/2020You’ll notice annuities that offer the best payouts generally yield more than Treasuries and top CDs. VIAC and VHI together are referred to as Venerable.The ratings reflect a highly experienced management team and, at the operating company, the continuity inherent in Voya Financial’s (Voya) closed block variable annuity (CBVA) leadership team moving to Venerable and continuing to perform the same functions as they did at Voya. This product allows for free withdrawals of the interest earned. This target is met both through drawable sources and by maintaining a stock of liquid assets. Make sure you understand the liquidity provisions of the fixed annuity you’re considering. Somewhat mitigating the VA concentration risk is the fact that VIAC’s payout annuity block provides some stability to the combined book. While the team has to-date successfully executed on the acquisition and subsequent management of Voya’s CBVA, the company is just two years into its life cycle and has yet to execute on additional acquisitions. Second, declines in Treasury yields have put pressure on pricing from many of the insurance companies that issue fixed annuities.The rates I discuss below based on products available in any state. Gainbridge is an online provider of simple, steady, high-yield products that empower consumers to grow and protect their savings. I was formerly a Policy Advisor at the US Department of Treasury, where I focused on how retirement is changing due to longer life spans and the decline of pensions. I am now the co-founder of Blueprint Income (www.blueprintincome.com), is a technology startup creating a digital, simple, low-cost Personal Pension and working to deliver a better experience for GenX and Boomers shopping for retirement income and annuities.
Viewing real-time rates and the ability to filter by the Now more than ever, there are two important things to keep in mind when purchasing a fixed annuity:Financial strength ratings always matter, but especially in times of market stress.
The level will fluctuate as excess capital is carried to support future growth; KBRA expects that it will not fall below CTE95, plus a buffer. Additionally, the company is exposed to counterparty credit risk through both its derivatives counterparties and its reinsurance partners, although this is well-mitigated with quality counterparties and/or collateral.The Stable Outlook reflects KBRA’s expectation that Venerable will continue to successfully execute on its risk management and hedging programs, in turn allowing it to maintain strong capitalization and liquidity. In the News.
Financial Information. Athene (A.M. Best: A) has the highest rate for an A rated insurer at 2.65% for the 7 year term.Atlantic Coast Life (A.M. Best: B++) has the highest 10 year rate of 3.30%. There are currently over 2,000 insurance companies in the U.S that issue annuities so finding the one that will best meet your needs can be a challenge. Before you can make a sound purchasing decision, you need to check out the ratings and get quotes from several annuity providers. KBRA notes that management maintains conservative capital criteria for M&A/reinsurance transactions. If you’d like to take free withdrawals, Atlantic Coast Life has another version of the product that pays 3.25% for the 10 year term and allows for free withdrawals of the interest earned. I’ve seen demand surge for fixed annuities in recent days as investors rushed to get rates before they fell and were reminded of how volatile the stock market is in times of crisis. This product does not allow for free withdrawals during the contract term. Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.Peter Giacone, Managing Director (Rating Committee Chair) Sentinel Security Life (A.M. Best: B++) has the highest 7 year rate of 3.20%. That doesn’t mean they’re necessarily the right fit. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission.
Our Team. For a 5 year investment term, fixed annuities are currently offering annual yields 1.36% higher than CDs and 2.95% higher than Treasuries. If you’d like to take free withdrawals, the best 7 year rate is 3.14% with Atlantic Coast Life (A.M. Best: B++). Generally, those with more stringent withdrawal provisions will pay a higher rate.Fixed annuities are not FDIC insured (like CDs are), nor are they backed by the full faith and credit of the United States (like Treasuries are).
This product does not allow for free withdrawals during the contract term. I believe in the power of technology to make products better and retirement simpler. The company also faces potential execution risk related to its growth through acquisition strategy. American Life (A.M. Best: B++) has the highest 5 year rate of 3.32%. Does not include annuities available only to captive agents or sold directly by the insurer. KBRA notes that the payout annuity block’s asset allocation tends to be less liquid and higher yielding. At inception, VIAC was capitalized at CTE98+ (it is currently above that level).
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