Delaware Life Momentum Growth Plus review

Yes, for the right buyer. It is a solid accumulation FIA with a strong bonus and a genuinely interesting crediting mechanic. It is not for someone who wants simplicity, short-term liquidity, or an income rider built in. But for a 55-year-old putting away long-term money who will check in on the contract each year, Momentum Growth Plus gives them more levers than most products in its class.

The primary draw is the 15% first-year bonus. On a $200,000 premium, that is $30,000 added to the account value starting the clock on vesting from day one. The secondary draw is VersaGain. Unlike a traditional FIA where your crediting options are fixed at purchase, Momentum Growth Plus lets you actively tilt the risk/return dial year by year — protect all your gains if markets feel stretched, risk some if you want higher rates next year. That kind of annual optionality is relatively rare in the bonus FIA space.

I think Momentum Growth Plus is best for buyers in the 50–65 age range who have identified a block of money they will not need to access for 10 years, want meaningful first-year crediting above a standard FIA floor, and are engaged enough to make an annual Protected Auto-Credit Percentage decision each year. It is less attractive for buyers who want a guaranteed income rider (there is none here), who expect to need early access to principal, or who want a simple "set it and forget it" accumulation vehicle — VersaGain adds value only if the buyer actually uses it.

You are buying three things layered together: a principal floor from the FIA structure, a first-year bonus that vests slowly as a return of sorts on your 10-year commitment, and an annual crediting mechanic that lets you trade short-term certainty for long-term upside. The bonus is real money on day one, but it is also partly how the carrier funds the product's economics — understanding that both things are true is important. VersaGain is not magic; it is a structured trade-off between protecting gains now and potentially earning higher rates later, which works well in trending markets and has limited benefit in flat or negative years.

VersaGain works as follows: at each contract anniversary, you elect a Protected Auto-Credit Percentage of 0%, 50%, or 100%. That percentage determines what portion of that year's available index gain (plus any vesting bonus amount) is credited to your account value. The remaining portion — the part you did not protect — becomes the "VersaGain Value," which feeds into the calculation of next year's participation rate or cap rate. In effect, by choosing to defer some of your earned interest, you buy a higher crediting ceiling for the following term.

On top of VersaGain, you have an Index Lock feature: at any point during the year, you can lock in the current available gain on any individual index account. Once locked, that gain is secured regardless of where the index goes before year end. The two features operate independently per index account, which means you can be 100% protected on one index and 0% protected on another in the same contract year.

The 15% premium bonus is the product's most visible selling point, but how it vests matters as much as the headline number. Delaware Life vests the bonus at 10% per year over 10 years — meaning at the end of year one you have only 10% of the bonus permanently credited, 20% after year two, and so on through full vesting at year 10. Early surrender recaptures the unvested portion, which is a significant economic consideration for anyone who might need to exit the contract in years one through eight. The bonus is fully vested in the event of death, nursing home confinement, or terminal illness, which provides meaningful protection for the most common early-exit scenarios.

The surrender schedule runs 10 years: 10%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, then zero. A Market Value Adjustment also applies to any withdrawal or surrender above the free amount, which means actual surrender costs in the early years can exceed the nominal charge if interest rates have risen since purchase. The free withdrawal provision is reasonable: 10% of total premiums in year one, and the greater of 10% of the prior anniversary account value or the RMD in subsequent years. Nursing home and terminal illness waivers cover two of the most common hardship scenarios, though both require the contract to have been in force for at least one year and have age restrictions at purchase. There is no return-of-premium guarantee, though the MGSV floor of 87.5% at 1–3% provides a minimum value backstop.

There are no explicit M&E charges, administration fees, or product fees — this is a standard FIA, not a variable annuity. The VersaGain Value election does impose an implicit cost: gains you choose not to protect in year one are deferred and at risk if the following index term performs negatively. The surrender schedule and MVA combination are the most consequential cost structure for buyers who might exit early. Index participation rates — 40–73% depending on the strategy — are lower than some competitors, though the VersaGain mechanic gives an active buyer a path to earn higher effective participation by recycling deferred gains.

| Feature | Details |

|---|---|

| Product Type | Fixed Index Annuity |

| Issue Ages | 18–80 |

| Minimum Premium | $25,000 (Q and NQ) |

| Premium Bonus | 15% of first-year premiums |

| Bonus Vesting | 10% per year, years 1–10 |

| Surrender Schedule | 10, 9, 8, 7, 6, 5, 4, 3, 2, 1, 0% |

| MVA | Yes, on excess withdrawals and surrenders |

| Free Withdrawal | Year 1: 10% of premiums; Years 2+: greater of 10% of anniversary value or RMD |

| MGSV | 87.5% at 1–3% |

| Income Rider | None |

| Waivers | Nursing Home, Terminal Illness |

| Death Benefit | Greater of account value (plus bonus value) or surrender value |

| VersaGain | Annual 0/50/100% gain protection election |

| Index Lock | Intra-year lock-in per index account |

| Index Options | S&P 500 (cap), Barclays Aries, BlackRock US Equity Bitcoin Balanced Risk 12%, Nasdaq-100 VC 12%, S&P 500 Dynamic Intraday TCA (all participation rate) |

| S&P 500 Cap (current) | 5.50% (low band) / 4.35% (high band), 100% participation |

| Fixed Account Rate | 2.75% (low band) / 3.00% (high band) |

| Plan Types | IRA, Roth IRA, SEP IRA, Nonqualified |

| State Availability | All states except CA and NY |

Delaware Life Insurance Company is based in Zionsville, Indiana and is part of Group 1001. The company claims the distinction of launching the first fixed index annuity in 1995 under its predecessor entity Keyport Life. Financial strength ratings as of mid-2025: A.M. Best A- (Excellent), S&P Global A- (Stable), Fitch A- (Strong). These are solid mid-tier investment-grade ratings that indicate a carrier with meaningful claims-paying capacity. The company is authorized in all states except New York, as well as DC, Puerto Rico, and the U.S. Virgin Islands. Delaware Life sells through independent distribution channels.