Kiplinger Readers’ Choice Awards 2025: Top Annuity Providers
The Kiplinger Readers’ Choice Awards 2025 has recognized the best annuity providers based on a survey of its community members. The awards honor products and services that have delivered excellent value in the past year across various personal finance categories.
Understanding Annuities
Annuities are financial contracts that allow individuals to pay a premium upfront or over time in exchange for a steady stream of income in retirement. They can be fixed or variable and may provide income immediately or in the future. Readers were asked to assess their annuity providers based on customer service, overall satisfaction, and likelihood of recommendation.
Top Annuity Providers
Overall Winner: New York Life
New York Life emerged as the overall winner in the annuity providers category. Readers praised the company’s customer service, competitive rates, and overall satisfaction. The company has been serving clients for over 175 years and holds the highest financial-strength ratings from major credit rating agencies.
Other Notable Providers
- Allianz Life Insurance Company of North America: Outstanding for customer service, most recommended, and overall satisfaction. Readers appreciated the company’s fixed index annuities and registered index-linked annuities, particularly noting the attractive sign-up bonuses.
- MassMutual: Recognized for being most recommended and overall satisfaction. The company offers a range of annuity products, including fixed annuities, fixed-index annuities, and immediate annuities, backed by high ratings from major credit rating agencies.
- Nationwide: Commended for its customer service. Nationwide offers various annuity products, including fixed annuities and immediate annuities, with some contracts allowing free withdrawals without surrender charges.
- TIAA: Outstanding for customer service. TIAA, originally established for educators, offers annuity products through employer-sponsored retirement plans and IRAs, earning high ratings from readers for its customer service.
Kiplinger Readers’ Choice Awards Categories
The Kiplinger Readers’ Choice Awards 2025 covers various categories beyond annuity providers, including full-service brokers, wealth management services, credit card rewards programs, banking institutions, insurance companies, tax software, and peer-to-peer payment services.
By recognizing top financial products and services, the Kiplinger Readers’ Choice Awards provides valuable insights into consumer preferences and experiences, helping individuals make informed decisions about their financial choices.
