Security Benefit Life

Security Benefit Life

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Financial Ratings

A.M. Best A-Stable
Fitch Ratings A-Stable

About Security Benefit Life

Founded in 1892, Security Benefit Life Insurance Company is a U.S.-based financial services provider headquartered in Topeka, Kansas. The company specializes in delivering retirement-focused insurance and annuity products, including fixed annuities, fixed-indexed annuities, and variable annuities. Its client base includes individuals, K–12 education professionals, and institutional investors. As of December 31, 2024, Security Benefit reported $56.98 billion in total admitted assets, $50.82 billion in total liabilities, and a Total Adjusted Capital (TAC) of $7.2 billion. Security Benefit operates through a wide network of financial professionals and distribution channels, positioning itself as a long-term partner in helping Americans prepare for retirement.

Product Lineup

Advanced Choice

Annuity

Guaranteed Growth, Tax-Deferred Safety

Guaranteed Interest Rates3-7 year Guarantee Periods available
Tax DeferralExample: $45,153 vs $39,242 after 20 years on $25,000
Free Withdrawals10% annually, penalty-free
Emergency Access WaiversAvailable in most states; varies by state

Best for: Retirees and pre-retirees who prioritize safety and guaranteed growth over marke...

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Foundations Annuity

Fixed Indexed Annuity

Index gains with zero market loss protection

Market Protection100% downside protection
First-Year Bonus1%
Free Withdrawals10% of account value
Index Options7 index accounts + 1 fixed account

Best for: Risk-averse clients seeking accumulation and growth without exposure to market d...

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Rate Track

Annuity

Fixed annuity that grows as rates rise—no market risk

Floating Rate ComponentAutomatically increases if rates rise, up to the specified cap
Guarantee Period Options5-year or 7-year terms available
Principal Protection100% principal guarantee
Tax-Deferred GrowthTaxes deferred until withdrawal

Best for: People close to or in early retirement who want to protect principal while poten...

Details

Strategic Growth 7

Fixed Indexed Annuity

Protected growth linked to market indices

Market Risk Protection0% minimum annual return in down markets
Tax-Deferred Growth100% of interest credited before taxes
Index Crediting OptionsMultiple 1-year and 2-year crediting terms available
Free Withdrawals10% annual free withdrawal access

Best for: Retirees and pre-retirees who want to grow retirement savings with market-linked...

Details

Strategic Growth Annuity

Fixed Indexed Annuity

Safe growth tied to market indices — no market risk

Index Crediting Options42 options
Principal ProtectionGuaranteed
Penalty-Free Withdrawals10% annually
Rate Buy Up FeatureAvailable after 1/9/2023

Best for: Individuals who have accumulated savings they don't want exposed to market risk ...

Details

Strategic Growth Plus

Fixed Indexed Annuity

Growth potential without market risk + bonus

Upfront BonusVaries by product election
Index Crediting Options42 options + Fixed Account
Rate Buy Up FeatureAvailable on contracts issued after 1/9/2023
Free Withdrawals10% per year

Best for: Individuals with a lump sum of money who want growth potential without direct ma...

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Top Ridge Bonus Annuity

Fixed Indexed Annuity

Market-protected growth with first-year bonus

Market Loss Protection0% loss in negative market years
Premium BonusVaries by current rates
Cumulative Free Withdrawal RiderUp to 30% cumulative access
Index Crediting Strategies8+ index crediting options

Best for: People approaching retirement or already retired who want to reduce market risk,...

Details

Financial Ratings

Live from CANNEX

Rating Agency

A.M. Best

Rating

B

Description

Fair

Effective

January 23, 2026

Rating Agency

Standard & Poor's

Rating

A-

Description

Strong

Effective

September 22, 2017

Rating Analysis

Security Benefit Life Insurance Company holds strong financial strength ratings from the industry’s top credit rating agencies, demonstrating its stability and solid financial performance. A.M. Best’s A− (Excellent) rating, affirmed on January 16, 2025, reflects the company’s strong balance sheet and favorable business profile. Both Fitch Ratings and S&P Global reaffirmed their A− (Strong) ratings in August and September 2024, respectively, with a “Stable” outlook, recognizing Security Benefit’s well-managed risk profile, resilient capitalization, and consistent earnings. Morningstar DBRS also rated the company A (Good) as of September 10, 2024, citing effective capital management and overall sound financial health. Together, these ratings portray Security Benefit as a financially solid and dependable provider, capable of fulfilling its obligations to policyholders while maintaining a stable outlook for long-term growth.

Security Benefit Life Products

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