Lincoln's variable annuities center on guaranteed-living-benefit riders with competitive roll-ups, for buyers who want market upside plus an income floor.
These rankings are editorial and never for sale. Every carrier is scored across financial strength (A.M. Best rating), rate or payout competitiveness, product breadth, surrender flexibility, and state availability. We disclose every affiliate relationship. Nationwide currently leads at 4.7/5.
What actually matters when choosing a carrier
A variable annuity is an SEC-registered security, sold only by prospectus. Its sub-accounts are invested in the market and can lose value, including principal. Variable annuities are not FDIC/NCUA-insured, not bank guaranteed, and may lose value; your state guaranty association's coverage does not extend to sub-account investment losses. Any guarantees — such as a death benefit or an optional living-benefit rider — apply only to those specific features and are backed by the insurer's claims-paying ability, not the account value. Read the prospectus and understand every fee before investing.
Why tax deferral compounds — $100,000 at 5% for 20 years
Illustrative projection, not a prediction or a quote: $100,000 at a constant 5% for 20 years, a 24% bracket throughout, no withdrawals, fees or rate changes (a real contract's rate is guaranteed only for its term). Both lines after tax. Deferral changes when you pay tax, not whether; the net advantage here is $14,814, smaller if your bracket rises and larger if it falls.
Fees are the number that matters most. Compare total annual cost — mortality & expense (M&E) charges, sub-account fund fees, and rider costs — across carriers. There is no single "guaranteed rate" to compare, and higher fees directly reduce your returns.
Surrender schedule and free withdrawals. Length and early-exit penalty matter as much as the headline rate; ~10%/yr penalty-free is typical.
Teaser vs. guaranteed. Watch first-year bonus rates that reset; ask for the minimum guaranteed terms in writing.
Tax & account type. In a taxable account, tax deferral is a real edge; in an IRA the deferral advantage disappears — compare on rate, strength and liquidity only.
Before you sign
Regulators (FINRA, SEC) flag pressure to replace an existing contract or buy complex riders you can't explain back. A 1035 exchange or rider can be legitimate — but only with a written side-by-side that clearly benefits you.
Nationwide took the #1 spot, scoring 4.7/5 on our methodology. They stand out for best low-cost variable annuity.
How were these rankings determined?
Track Retirement scores every annuity carrier on the factors that matter: A.M. Best financial strength, MYGA rate competitiveness, product range, surrender flexibility, and state availability.
What does an A.M. Best rating mean?
A.M. Best is the leading credit rating agency for insurance companies. Ratings of A++ (Superior) and A+ (Superior) are the top two tiers; A and A- (Excellent) are the next two; B++ and B+ (Good) are below that. We weight financial strength heavily and favor carriers rated A- or better — and we flag any carrier that sits below that bar so you can weigh it against the rate.
How does Track Retirement make money?
We earn a commission when you request a quote through one of our partner links — but rankings are based purely on our editorial methodology. See our advertiser disclosure.
Why you can trust Track Retirement
No carrier, advertiser, or listed agent can pay for a ranking, and none reviews our content before publication. Figures are drawn from primary sources — A.M. Best, NAIC, the IRS, SSA, and Treasury — and checked against them. Our content is researched and drafted with the help of AI tools and verified against those sources; see our editorial policy.
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How Track Retirement ranks variable annuities of 2026
We score every carrier on financial strength (A.M. Best), MYGA rate competitiveness, product breadth, surrender flexibility, and state availability. All affiliate relationships disclosed. See our full methodology and editorial policy.