Silac Insurance Company

Financial Ratings

AM Best B+Negative

About Silac Insurance Company

SILAC Insurance Company, headquartered in Salt Lake City, Utah, is a long-standing U.S. life and annuity carrier specializing in fixed and fixed indexed annuities, multi-year guaranteed annuities (MYGAs), and Medicare Supplement insurance. Originally founded in 1935 as Equitable Life & Casualty Insurance Company, the company rebranded to SILAC in 2020 to reflect its national expansion and modernized product line.

SILAC focuses on delivering retirement and income solutions designed for guaranteed growth, income protection, and principal safety. The insurer’s product suite includes its flagship Secure Savings™ and Teton™ fixed indexed annuity series, as well as Secure Savings Elite™, catering to a range of investment horizons and liquidity needs.

Operating in 49 states and the District of Columbia (excluding New York), SILAC has established itself as a consistent performer in the fixed annuity space, recognized for competitive crediting rates, simplified contract designs, and strong independent distribution partnerships.

Product Lineup

Denali 10

Fixed Indexed Annuity

Protected growth with liquidity—market downside protection plus access to your funds

Annual Floor Protection0% annual minimum

Interest Credit Lock-InPermanent once credited

Free Withdrawals5% annually (years 2+), 10% with Elevation riders

Withdrawal Charge Periods7, 10, or 14 years

Best for: Retirees seeking long-term retirement savings growth with principal protection, ...

Details →

Denali 14

Fixed Indexed Annuity

Protected growth with market access

Annual Floor Protection0% minimum annual return

Interest Lock-In100% of credited interest protected

Free Withdrawals5% with base Denali; 10% with Elevation riders

Withdrawal Charge PeriodsThree term options available

Best for: Individuals seeking long-term retirement savings with principal protection from ...

Details →

Denali 7

Fixed Indexed Annuity

Protected Growth + Access = Retirement Elevated

Annual Floor Protection0% minimum annual credit

Interest Lock-InPermanent once credited

Free Withdrawals (Base Denali)5% per year

Free Withdrawals (with Elevation)10% per year, 30% cumulative

Best for: Individuals seeking long-term retirement savings who want principal protection f...

Details →

Denali Bonus 10

Fixed Indexed Annuity

Protected Growth + Access = Retirement Elevated

Principal Protection100% protected, 0% annual floor

Premium Bonus3-5% base, higher with Elevation Plus

Interest CreditingFixed or indexed options available

Free Withdrawals5% annually, up to 10% with Elevation riders

Best for: Individuals age 50+ seeking long-term retirement security who want principal pro...

Details →

Denali Bonus 14

Fixed Indexed Annuity

Protected Growth + Flexible Access = Retirement Elevated

Premium Bonus3-5% with Elevation Plus; standard with base product

Principal Protection0% annual floor on indexed strategies

Free Withdrawals5% base; 10% with Elevation riders; up to 30% cumulative

Crediting StrategiesFixed rates declared annually; indexed rates subject to caps/participation limits

Best for: Retirees and pre-retirees who want long-term retirement savings growth with down...

Details →

Denali Bonus 7

Fixed Indexed Annuity

Protected growth + access = retirement elevated

Principal Protection0% annual minimum

Premium Bonus3-5% base; up to 5% with Elevation Plus

Crediting OptionsMultiple strategies available

Free Withdrawals5% base; 10% with Elevation riders

Best for: This product is best suited for retirees or near-retirees who want principal pro...

Details →

Vega 10

Fixed Indexed Annuity

Protected growth + Lifetime income you can't outlive

Principal Protection100% principal protected

Flexible Crediting StrategiesMultiple fixed and indexed options

Lifetime Withdrawal BenefitAutomatic inclusion, no fee

Accelerated WithdrawalsFirst of its kind in the industry

Best for: People 50+ looking to accumulate retirement savings over 7-14 years with princip...

Details →

Vega 14

Fixed Indexed Annuity

Guaranteed Income + Market Growth + Wealth Transfer

Dual Account StructureHigher withdrawal amounts over time

Principal Protection0% annual floor

Interest Credit Lock-inGuaranteed growth preservation

Three Withdrawal OptionsFlexible income strategies

Best for: Pre-retirees and retirees seeking a long-term retirement vehicle that combines g...

Details →

Vega 7

Fixed Indexed Annuity

Safe growth + guaranteed lifetime income, automatically included

Annual Floor Protection0% minimum

Interest Lock-inPermanent once credited

Lifetime Withdrawal GuaranteeLifetime coverage

Multiple Withdrawal Options3 options

Best for: Retirees and near-retirees (ages 50+) who prioritize principal safety, want auto...

Details →

Vega Bonus 10

Fixed Indexed Annuity

Guaranteed Lifetime Income + Market Growth + Immediate Bonus

Benefit BonusVaries by product and crediting strategy

Lifetime Withdrawal BenefitAvailable after 7, 10, or 14-year waiting period

Accelerated WithdrawalsAvailable with 7, 10, or 14-year terms

Principal Protection100% principal protected

Best for: Investors age 50+ who want guaranteed lifetime income, principal protection, and...

Details →

Vega Bonus 14

Fixed Indexed Annuity

Fixed Indexed Annuity with Lifetime Income & Growth Options

Benefit BonusVaries by product term

Principal Protection100% principal protected

Flexible Crediting StrategiesMultiple options available

Lifetime Withdrawal BenefitLifetime guarantee

Best for: This product is suitable for individuals age 50+ seeking long-term retirement sa...

Details →

Vega Bonus 7

Fixed Indexed Annuity

Guaranteed Lifetime Income + Market Growth + Principal Protection

Benefit BonusVaries by product term

Lifetime Withdrawal GuaranteeLocked in at election

Annual Floor Protection0% floor

Free Annual Withdrawals5% per year

Best for: Individuals seeking guaranteed lifetime retirement income, principal protection ...

Details →

Financial Ratings

Live from CANNEX

Rating Agency

A.M. Best

Rating

B+

Description

Good

Effective

January 6, 2023

Rating Analysis

The ratings for SILAC Insurance have been placed under review with negative implications due to concerns over the quality of its reinsurance counterparties and collateral investments. Increased reinsurance leverage and a decline in risk-adjusted capitalization have prompted this reassessment. SILAC's financial flexibility is also noted as somewhat limited, which could affect its ability to manage growth or recover from investment losses. The resolution of the review will depend on AM Best’s assessment of SILAC's forthcoming strategic and capital management plans.