Oxford Life Insurance Company
Oxford Life Insurance Company specializes in products that promote financial security, including annuities, Medicare Supplement products and life insurance policies. The company offers fixed indexed and multi-year guaranteed annuities for consumers.
- Written By Sheena Zimmermann, M.Ed.
- Edited By Emily Miller
- Updated: April 25, 2022
- This page features 6 Cited Research Articles
Since its founding in 1965, Oxford Life Insurance Company has supported the senior market with life insurance policies and annuities. Through its subsidiaries, the organization also offers Medicare Supplement insurance to help cover medical expenses not paid by Medicare.
Oxford Life Insurance Company amassed more than $2.7 billion in assets as of December 2020, according to the credit rating agency AM Best. Annuities are a top line of business for the company, accounting for nearly 85 percent of direct premiums written.
About Oxford Life Insurance Company
Oxford Life Insurance Company, or Oxford Life, was established in Arizona with the goal of helping seniors achieve financial well-being throughout retirement.
“Our mission is to provide products and services promoting financial security to individuals that will enable them to live with dignity in their retirement years,” according to the Oxford Life website. “Oxford Life is a strong player in every field where it competes, and constantly strives to be a leader in the industry in all categories.”
Oxford Life achieves its mission through a strong partnership with two subsidiaries:
- Christian Fidelity Life Insurance Company:
- Medicare Supplement and final expense life insurance
- North American Insurance Company:
- Medicare Supplement insurance
Additionally, Oxford Life is a member of the publicly traded AMERCO financial holding network.
Credit Ratings
In July 2021, AM Best upgraded its financial strength rating for Oxford Life from A- to A, reflecting the company’s recent annuity business growth. This scoring is the third highest out of AM Best’s 16 ratings.
AM Best also revised the outlook of the ratings from positive to stable, and upgraded the Long-Term Issuer Credit Rating from “a-” to “a”.
Credit ratings are standardized evaluations of annuity providers’ financial stability. It’s important for consumers to research annuity and insurance companies’ credit ratings, as the companies should have proven soundness to cover and pay claims.
| Credit Rating | Outlook | |
|---|---|---|
| AM Best: | A Excellent | Stable |
Annuity Products Offered by Oxford Life Insurance Company
Oxford Life issues fixed indexed annuities and multi-year guaranteed annuities. Annuity rates may vary depending on the product type, provider and location.
Fixed Indexed Annuities
Fixed indexed annuities are not directly exposed to the stock market, but they are tied to the performance of a specific stock index. If the index performs well, the annuity can grow. If the index experiences losses, the annuity has downside protection.
- Royal Select:
- Immediate 8 percent accumulation value growth
- Silver Select:
- 10 percent free withdrawal provision after first year
- Select Series:
- Choose a duration of three, five, seven or 10 years
Multi-Year Guaranteed Annuities (MYGAs)
Oxford Life also issues multi-year guaranteed annuities, or MYGAs, which provide a fixed interest rate throughout a chosen time span — such as five years.
- Multi-Select: Choose a duration ranging from three to 10 years
Client Resources
Oxford Life clients have access to a convenient online portal to review policy details. Clients can also complete important annuity actions such as submitting claim forms, confirming that you’ve received your policy, filing death notifications and uploading death claim forms.
- Membership to fitness centers through the Active&Fit Direct Program
- Online health and fitness vendor discounts
- Specialty provider discounts for health care services
- Educational content for health and wellness
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6 Cited Research Articles
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- AM Best. (2021, July 29). AM Best Upgrades Credit Ratings of Oxford Life Insurance Company and Christian Fidelity Life Insurance Company. Retrieved from http://news.ambest.com/presscontent.aspx?altsrc=9&RefNum=30997&URatingId=3026650&_ga=2.61612460.1607434735.1628179069-1676143612.1628179069
- AM Best. (2021). Oxford Life Insurance Company. Retrieved from https://ratings.ambest.com/companyprofile.aspx?ambnum=7890&URatingId=-1&bl=64&AltSrc=3&PPP=&AltNum=20347890&Ext_User=66.249.64.3&Ext_Misc=CompanyProfile:&Portal=0
- Oxford Life Insurance Company. (n.d.). About Us. Retrieved from https://oxfordlife.com/about-us/
- Oxford Life Insurance Company (n.d.). Annuity Products. Retrieved from https://oxfordlife.com/products/annuity/
- Oxford Life Insurance Company. (n.d.). Choose Healthy. Retrieved from https://oxfordlife.com/policyholders/choose-healthy
- Oxford Life Insurance Company. (n.d.). Policyholders. Retrieved from https://oxfordlife.com/PolicyHolders/
