Why it earned this rating
Our assessment
Pinnacle Plus 10-Year is the longest-duration MYGA in Delaware Life's lineup. The ten-year guarantee period typically funds the family's strongest current rates, and the surrender curve fades to 0.5% in year ten before reaching zero.
The short version
For a buyer who wants tax-deferred fixed-rate growth on a ten-year horizon with brand-name carrier backing, Pinnacle Plus 10-Year is the strongest member of the family. What makes it appealing is the typically highest rate, the longest rate-lock, and the fact that the surrender curve eventually fades nearly to zero before reaching it. What keeps it from a top-tier rating is the lack of income rider and the steep early-year surrender for buyers who might need to exit before the seven-year mark.
Key facts
The full review
Is Delaware Life Pinnacle Plus 10-Year a Good Annuity?
Yes, for the right buyer. This is a good annuity for someone using truly long-term retirement money who wants the longest rate-lock in the family and can comfortably commit for ten years. It is less appealing for buyers who might need access within seven or eight years, or for buyers who specifically want lifetime income.
Why Someone Would Buy This Annuity
The main reason to buy Pinnacle Plus 10-Year over the 7-year is rate — ten-year MYGAs almost always credit the best rates in their family because the carrier has the most time to amortize its hedging budget. The secondary reason is the long rate-lock — ten years of guaranteed crediting is meaningfully more rate-resilient than the shorter siblings in a falling-rate environment.
Who This Annuity Is Best For
I think this annuity is best for someone with truly long-term retirement money who can commit for the full ten years, values the rate competitiveness and the longer step-down on the back end of the surrender curve, and can meet the $25,000 minimum. It is less attractive for buyers who might need access within five to seven years.
What You're Really Buying Here
You are buying a ten-year fixed-rate guarantee in a tax-deferred annuity wrapper. The Initial Guaranteed Rate is set at issue and applies for the full ten-year period. There are no contractual fees, so the credited rate equals the rate you earn.
How the Core Feature Works
You make a single qualified or nonqualified premium payment between $25,000 and $1,000,000. The Initial Guaranteed Rate is declared at issue and locks in for ten years. Interest compounds within the contract. At the end of the ten-year guarantee period, you can renew, withdraw, surrender, or annuitize.
Why the Secondary Feature Matters
The most meaningful secondary feature is the **back-end surrender step-down**. The 10-year curve runs 8/7/6/5/4/3/2/1/1/0.5 — meaning by year nine, the surrender charge is just 1%, and by year ten it drops to 0.5%. That gradual fade gives buyers more practical flexibility in the late years of the contract than a curve that stays at 2%+ until the very end.
Liquidity and Surrender Schedule
The 10-year surrender curve is 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 1%, 0.5%, then zero. After the first contract year, you can take up to 10% of last contract anniversary value (or RMD if greater) without surrender charge or MVA. RMDs are exempt. Nursing home and terminal illness waivers can waive surrender charges after year 1 for qualifying conditions.
Fees and Tradeoffs
There are no contractual fees on Pinnacle Plus. The credited rate is the rate you earn. The MVA can move cash value up or down depending on the rate environment. The structural tradeoff is the ten-year commitment itself — that is a long lock-up, even with the gradual back-end step-down.
Product snapshot
| Feature | Details |
| --- | --- |
| Product type | Multi-year guaranteed annuity (fixed) |
| Initial guaranteed period | 10 years |
| Surrender period | 10 years |
| Issue ages | 18-85 |
| Minimum premium | $25,000 (qualified or nonqualified) |
| Maximum premium | $1,000,000 per owner without prior approval |
| Plan types | Nonqualified, IRA, SEP-IRA, Roth IRA |
| Withdrawal charge schedule | 8 / 7 / 6 / 5 / 4 / 3 / 2 / 1 / 1 / 0.5 / 0 |
| Free withdrawals | After year 1, 10% of last anniversary AV or RMD if greater |
| MVA | Yes, during surrender period; waived at death |
| Systematic withdrawals | Annual, semiannual, quarterly, or monthly; $100 minimum, $5,000 minimum AV |
| Annuitization | Maximum age 95; single life, single life with period certain, joint and survivor |
| Nursing home waiver | Available after year 1; issue age cap 75 |
| Terminal illness waiver | Available |
| Death benefit | Greater of account value or surrender value |
| Income rider | Not offered |
| Policy form | ICC22-DLIC-MYGA |
Carrier snapshot
Pinnacle Plus 10-Year is issued by Delaware Life Insurance Company, headquartered in Zionsville, IN. Delaware Life is a mid-sized U.S. annuity carrier that is part of Group 1001.
Final take
Pinnacle Plus 10-Year is the strongest member of the Pinnacle Plus family for buyers who can commit for the full ten years. The longest rate-lock in the family typically funds the family's best rate, and the surrender curve fades meaningfully in the back years. The honest caution is the ten-year commitment paired with the same 8% surrender start that the shorter siblings carry — early-year exits are expensive. For buyers prioritizing rate and rate-resilience, this is a strong option in its peer group.