Table Of Contents

Best RILA for Customization: Lincoln Financial Level Advantage 2

Ranked as a Best Annuity Company of 2024

Level Advantage 2

Product Details
  • Minimum Premium: $25,000
  • Maximum Premium: $2,000,000
  • Issue Age: Max age of 85
  • Product Fees: Surrender fees of up to 7% of contract value

Pros

  • No internal product fees
  • Seven indices and multiple combinations of crediting and buffers to choose from
  • Optional Secure Lock+ feature that allows owners to freeze their account performance and protect their current gains

Cons

  • Performance crediting caps and participation rates are lower than competitors

Our Take

Lincoln Financial’s Level Advantage 2 offers low relative costs and an abundance of choices for investors who are comfortable with weighing different crediting strategies and term lengths. Created by an A-rated company like Lincoln, this annuity offers security and reliability. This annuity has the highest maximum premium on our list at $2 million.

Level Advantage 2 is the only product in our list that offers up to five different buffer options, with the highest reaching 30%. This product includes the standard terminal and nursing home waivers as well as the 10% annual surrender-free withdrawals.

Best RILA for Growth: Nationwide Defender Annuity

Ranked as a Best Annuity Company of 2024

Defender Annuity

Nationwide logo
Product Details
  • Minimum Premium: $25,000
  • Maximum Premium: $1,000,000
  • Issue Age: Max age of 85
  • Product Fees: 1.10% annual fee; optional rider fees of 0.15% (Return of Premium Death Benefit) and 0.10% (Performance Lock)

Pros

  • Best rates and highest performance caps on our list for buffers and floor
  • Return of Premium Death Benefit and Performance Lock riders available

Cons

  • Product fee (1.10%) higher than competitors
  • Optional riders come at additional costs
  • Surrender charges (up to 8%) slightly higher than competitors

Our Take

Nationwide offers compelling rates and performance caps for their buffered annuity, the Nationwide Defender Annuity. Nationwide boasts an A+ rating from AM Best for its annuity business. This makes it one of the strongest rated companies in the annuity industry. 

Investors who are looking for downside protection but don’t want to limit their growth to mediocre caps will be pleased with high or uncapped strategies. Additionally, Nationwide offer another RILA product, the Nationwide Defined Protection Annuity 2.0, with a protection floor instead of a buffer. This product has no annual product fee. 

Best RILA for Custom Index Strategies: Fidelity & Guaranty Confidence Builder

Ranked as a Best Annuity Company of 2024

Confidence Builder

Product Details
  • Minimum Premium: $25,000
  • Maximum Premium: $1,500,000
  • Issue Age: Max age of 80
  • Product Fees: Surrender fees of up to 7% of contract value

Pros

  • Hindsight 20/20 investment strategy captures the best performance from a collection of strategies and credits the contract the highest performer, creating added performance protection
  • Return of Premium Death Benefit at no additional cost

Cons

  • Rates and performance caps are lower than competitors
  • Max age is 80, while it is 85 for many other competitors

Our Take

The Fidelity & Guaranty Confidence Builder offers safety and security for investments in multiple ways. The downside buffers limit acute market losses, but the most interesting option in the Hindsight 20/20 index option. This is made up of three separate asset allocation mixtures. After the crediting term, the best of the three is used to credit toward the contract. 

For investors wary of the market, this product offers the opportunity to lean into more sustainable, possibly lower growth, thereby avoiding the buffer altogether in rocky market environments. 

Best RILA for Low Premiums: Allianz Index Advantage+

Ranked as a Best Annuity Company of 2024

Index Advantage+

Product Details
  • Minimum Premium: $10,000
  • Maximum Premium: $1,000,000
  • Issue Age: Max age of 85
  • Product Fees: 1.25% annually and $50 annually on contract less than $100,000

Pros

  • Flexible premium options allowing owners to add to their account over time
  • Low premium amounts relative to competitors
  • Optional Max Anniversary Value rider

Cons

  • Highest annual product cost of evaluated contracts
  • Surrender charges (up to 8%) slightly higher than competitors

Our Take

The Allianz Advantage+ and the similar income producing contract, the Allianz Advantage+ Income, were selected for their low premium requirements and rare flexible premium option. Few RILA contracts offer similar funding options. Allianz also has strong financial ratings, making it a stable company to work with. 

Advantage+ offers competitive rates and performance crediting strategies, making it one of the better options for investors serious about growth from their RILA. It is also one of the few contracts offering buffers as high as 30%. 

Please seek the advice of a qualified professional before making financial decisions.
Last Modified: February 7, 2025
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