Top Annuity Companies

Annuity products are available from multiple providers. It is important for anyone that is considering purchasing an annuity to know who the top annuity companies are. Below is a list of five top annuity companies and a description of their products and services.

MetLife:

MetLife was founded in 1868 in New York City. MetLife offers a variety of financial and insurance products, including annuities, mutual funds, estate planning, education planning, and portfolio management, to its customers.

MetLife offers three fixed annuity and eight variable annuity products, and has the following ratings from the independent rating agencies, as of July 8, 2009:

• A.M. Best: A+, 2nd highest
• Standard & Poors: AA-, 4th highest
• Fitch: AA, 3rd highest

ING:

The ING Group is based in Amsterdam and offers 85 million customers in over 40 countries banking, investments, life insurance, and retirement products. It was founded in 1991, as a result of a merger between Nationale-Nederlanden and NMB Postbank Group.

ING offers two deferred fixed annuities. In addition, the company offers three types of variable annuities, six types of fixed indexed annuities, and one immediate annuity.
The independent ratings agencies have given the ratings, as of March 2009, listed below to ING.
• A.M. Best: A+, 2nd highest rating
• Standard & Poors: AA-, 4th highest rating
• Fitch: AA-, 4th highest rating.
AXA:

AXA Equitable Life Insurance Company has been in business since 1859. Today, it is a leading financial company that offers life insurance and investment products and services in addition to annuities to clients in the United States. The company is based in New York City.
AXA offers three annuity products to its customers - two variable annuities and one fixed annuity.
The independent ratings agencies have given the ratings, as of March 2009, listed below to AXA.
• A.M. Best: A+, 2nd highest rating
• Standard & Poors: AA, 3rd highest rating
• Fitch: AA-, 4th highest rating.
John Hancock:
John Hancock is owned by Canada's Manulife today but was originally founded in 1862. Manulife is the fourth largest life insurer in the world. The company has a market capitalization of over $16 billion, and offers customers annuities, life insurance, 401(k)s, mutual funds, pension management services, and college savings plans.
John Hancock offers four annuities - one variable annuity and three fixed annuities.
John Hancock is ranked by the major insurance-company rating services as follows:
• A.M. Best: A++, highest ranking
• Standard & Poor's: A+, 2nd highest ranking
• Fitch: AA, 3rd highest ranking.
New York Life:
New York Life was originally founded in 1845. The company is now the largest mutual life insurance annuity provider in the United States. The company provides life insurance and annuities to customers.
In total, New York Life has fourteen annuity plans - five fixed annuity products and nine variable annuities. The company is rated by the independent rating agencies as follows:
• A.M. Best: A++, highest rating
• Standard & Poor's: AAA, highest rating
• Fitch: AAA, highest rating.

For more information from Steven on how to invest in annuities, their pros & cons, and common investment mistakes, visit Free Annuity Rates.com. To learn more about the differences between variable and index annuities, visit the Variable Annuity or Index Annuity Guides.