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About Delaware Life
Delaware Life Insurance Company, part of Group 1001, issued the first fixed index annuity in 1995 and remains a pioneering force in annuity innovation. Known for competitive MYGA and FIA products with accessible minimums and flexible crediting options, Delaware Life serves retirement savers across all major annuity categories. Their consistent A- financial ratings reflect solid claims-paying ability.
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How we scored them
Income Options84/100
Financial Strength82/100
Fees & Costs83/100
Flexibility81/100
Customer Service80/100
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The tradeoffs
What works
- History as the first FIA issuer with 30 years of product innovation
- Competitive MYGA rates across 3-7 year terms with accessible minimums
- Multiple income-focused FIA strategies with dual-path options (Ready/Build)
- Flexible crediting menus with specialty indices and Precision Portfolio presets
- Consistent A- ratings from all three major rating agencies
What to watch
- Not available in New York, limiting distribution reach
- Some products carry 10-year surrender periods that are longer than peer average
- Index crediting uses participation rates and volatility controls that can cap upside
- Mandatory GLWB fees on income products cannot be declined
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Income rider fees
Disclosed charges for optional riders on Delaware Life products, live from Annuity Rate Watch. Product-level detail is on each review.
| Rider | Product | Fee |
|---|---|---|
| DualTrack Income GLWB | Delaware Life DualTrack Income | 1.20% annually (2.50% max) |
| TruePath Income GLWB: Build Growth Strategy Level Income | Delaware Life TruePath Income | 1.20% annually (1.95% max) |
| TruePath Income GLWB: Build Growth Strategy Rising Income | Delaware Life TruePath Income | 1.20% annually (1.95% max) |
| TruePath Income GLWB: Ready Growth Strategy Level Income | Delaware Life TruePath Income | 1.20% annually (1.95% max) |
| TruePath Income GLWB: Ready Growth Strategy Rising Income | Delaware Life TruePath Income | 1.20% annually (1.95% max) |
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Best fit for these buyers
Savers seeking competitive fixed-rate growth with multiple renewal options
Pre-retirees planning lifetime income with flexible deferral strategies
Buyers who prefer accessible minimum investments on MYGA and FIA products
Ages 50-75 wanting principal protection with index-linked growth potential
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Frequently asked questions
Is Delaware Life a good annuity company?
Delaware Life earns an average rating of 4.1/5 across the 12 products we've reviewed, and A.M. Best rates the carrier A- for financial strength. We describe its financial position as "Strong" with $50+ Billion in total assets.
What are the fees for Delaware Life annuities?
Fee structures vary by product. Optional income riders on Delaware Life products carry disclosed charges — for example DualTrack Income GLWB (Delaware Life DualTrack Income): 1.20% annually (2.50% max); TruePath Income GLWB: Build Growth Strategy Level Income (Delaware Life TruePath Income): 1.20% annually (1.95% max); TruePath Income GLWB: Build Growth Strategy Rising Income (Delaware Life TruePath Income): 1.20% annually (1.95% max). See each product review for the full fee detail.
What is the surrender period for Delaware Life annuities?
Surrender periods on Delaware Life's current lineup run 3–10 years, depending on the product. Most products allow an annual free-withdrawal amount before charges apply — the product table above shows each product's surrender length, and each review covers the exact schedule.