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About Security Benefit
Security Benefit Life Insurance Company is a Kansas-based annuity provider known for fixed indexed annuities with sophisticated crediting strategies and a broad product portfolio spanning accumulation, income, and variable options. With strong financial ratings and deep expertise in custom index methodologies, Security Benefit serves both retail and RIA channels with flexible, principal-protected solutions.
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How we scored them
Income Options78/100
Financial Strength88/100
Fees & Costs80/100
Flexibility84/100
Customer Service82/100
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The tradeoffs
What works
- Exceptionally broad index crediting menu with volatility-controlled options
- RIA-channel no-surrender FIA with built-in return-of-premium protection
- Strong financial ratings and 70+ years of operational stability
- Flexible MYGA options including SOFR-linked floating-rate products
- Deep variable annuity lineup with multiple share classes for different needs
What to watch
- Many products feature market value adjustments that add exit-cost uncertainty
- Steep first-year surrender charges (often 9%) on accumulation FIAs
- Limited income rider availability compared to income-focused competitors
- Some brochure materials lack detailed disclosure of fees and participation rates
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Best fit for these buyers
Savers prioritizing principal protection with indexed crediting flexibility
Fee-based advisors seeking no-surrender accumulation FIAs for flexible portfolios
Investors wanting deep index-strategy menus beyond standard S&P 500 capped products
Ages 50-75 in accumulation phase with 5-10 year time horizons
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Frequently asked questions
Is Security Benefit a good annuity company?
Security Benefit earns an average rating of 3.9/5 across the 9 products we've reviewed, and A.M. Best rates the carrier A- for financial strength. We describe its financial position as "Excellent" with $50+ Billion in total assets.
What is the surrender period for Security Benefit annuities?
Surrender periods on Security Benefit'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.