Silac Insurance Company

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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 Flexible Access

Annual Floor Protection0% minimum

Interest Credit Lock-InPermanent once credited

Free Withdrawals5% base; 10% with Elevation rider

Indexed & Fixed OptionsMultiple strategies available

Best for: Individuals seeking long-term retirement accumulation who want principal protect...

Denali 14

Fixed Indexed Annuity

Protected growth with market access—retirement elevated.

Annual Floor Protection0%

Interest Credit Lock-InPermanent lock-in

Free Withdrawals5% (base) / 10% (with Elevation riders)

Cumulative Withdrawals30% max (with Elevation riders)

Best for: Retirees and near-retirees seeking principal protection, tax-deferred growth, an...

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...

Denali 7

Fixed Indexed Annuity

Protected Growth. Guaranteed Access. Elevated Retirement.

Principal Protection0% annual floor

Interest Crediting OptionsFixed or Indexed

Tax-Deferred GrowthFull tax deferral

Free Withdrawals5% annually (10% with Elevation)

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

Denali Bonus 10

Fixed Indexed Annuity

Protected retirement growth with market upside and guaranteed access

Principal Protection100% principal protected

Premium Bonus3-5% additional (Elevation Plus offers higher)

Interest Crediting OptionsMultiple options available

Free Annual Withdrawals5% base (10% with Elevation riders)

Best for: Investors age 0-90 seeking long-term retirement growth who want principal protec...

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...

Denali Bonus 14

Fixed Indexed Annuity

Protected growth + flexibility = Retirement elevated

Premium Bonus3-10% depending on term selected

Annual Floor Protection0% minimum

Interest Lock-InPermanent protection of gains

Free Withdrawals5-10% per year

Best for: Individuals within 10-15 years of retirement or already retired who want princip...

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...

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...

Denali Bonus 7

Fixed Indexed Annuity

Protected Growth + Easy Access = Elevated Retirement

Principal Protection100% principal protected

Immediate Premium Bonus3-5% depending on rider selection

Free Annual Withdrawals5% base, 10% with Elevation riders

Annual Floor Protection0% minimum annual floor

Best for: Investors age 0-90 seeking long-term retirement accumulation with principal prot...

Evolve 10

Fixed Indexed Annuity

Guaranteed Lifetime Income + Market Growth Protection

Lifetime Withdrawal BenefitAutomatic inclusion, 1.50% annual spread

Principal Protection0% floor guarantee

Premium BonusVaries by product and term

Flexible Crediting StrategiesMultiple index options available

Best for: Individuals age 50+ seeking guaranteed lifetime income in retirement, protection...

Evolve 14

Fixed Indexed Annuity

Fixed Indexed Annuity with Lifetime Income Guarantee

Principal Protection100% principal protected

Annual Floor Protection0% annual minimum

Lifetime Withdrawal BenefitGuaranteed for life

Crediting Strategy ChoicesMultiple options available

Best for: Retirees and pre-retirees age 45-90 who want principal protection, growth potent...

Evolve 7

Fixed Indexed Annuity

Guaranteed income for life with growth potential

Lifetime Withdrawal BenefitBased on income value; costs 1.50% annual spread

Premium Bonus3% (example in comparison charts)

Annual Floor Protection0% floor guaranteed

Crediting Strategy OptionsMultiple strategies available with annual reallocation

Best for: Retirees seeking guaranteed lifetime income, principal protection from market vo...

Evolve Bonus 10

Fixed Indexed Annuity

Guaranteed Lifetime Income + Market Growth + Principal Protection

Premium BonusVaries by term length; higher for longer commitment periods

Annual Floor Protection0% minimum annual interest credit

Interest Lock-In100% of credited interest is protected

Lifetime WithdrawalsGuaranteed for life regardless of account performance

Best for: Retirees and pre-retirees who prioritize guaranteed lifetime income and principa...

Evolve Bonus 14

Fixed Indexed Annuity

Guaranteed Lifetime Income + Principal Protection

Premium Bonus10% of premium (varies by withdrawal charge period)

Lifetime WithdrawalsGuaranteed for life regardless of account performance

Principal Protection0% annual floor on indexed strategies

Free Withdrawals5% per year after first policy year

Best for: Retirees and pre-retirees who want guaranteed lifetime income, principal protect...

Evolve Bonus 7

Fixed Indexed Annuity

Lifetime Income + Bonus + Market Growth Protection

Premium BonusUp to 10% depending on term selected

Growth OptionsMultiple crediting strategies available

Annual Floor Protection0% floor on indexed strategies

Lifetime WithdrawalsLevel or Increasing options available

Best for: Retirees age 50+ who want guaranteed lifetime income, principal protection, grow...

Secure Savings

Multi-Year Guaranteed

Guaranteed Growth. Zero Market Risk.

Guaranteed Interest Rate2-year or 5-year options

Principal ProtectionFull guarantee by SILAC Insurance Company

Penalty-Free WithdrawalsYear 1: Interest or RMD; Year 2+: Greater of 5%, interest, or RMD

Surrender Charges9% year 1, declining to 5% year 5

Best for: Conservative investors age 18-90 seeking principal protection, predictable guara...

Secure Savings Elite

Multi-Year Guaranteed

Guaranteed growth with principal protection

Guaranteed Interest Rate2 or 5 year options

Principal ProtectionFull guarantee during term

Penalty-Free WithdrawalsYear 1: accumulated interest or RMD; Years 2+: 5% of account value, accumulated interest, or RMD

Tax-Deferred GrowthTaxes deferred until access

Best for: Conservative investors age 18-90 seeking guaranteed growth, principal protection...

Teton 10

Fixed Indexed Annuity

Protected growth with indexed or fixed interest options

Annual Floor Protection0% minimum annual floor

Interest Credit Lock-InPermanent lock-in

Free Withdrawals5% (base) or 10% (with Elevation riders)

Cumulative WithdrawalsUp to 30% cumulative maximum

Best for: Investors age 0-90 with $10,000+ to invest who want long-term retirement savings...

Teton 14

Fixed Indexed Annuity

Principal-Protected Retirement Growth with Flexible Access

Principal Protection100% guaranteed

Annual Floor Protection0% minimum annual return

Interest Credit Lock-InPermanent lock-in

Tax-Deferred GrowthTax deferral benefit

Best for: Investors nearing or in retirement who prioritize capital preservation and tax-d...

Teton 5

Fixed Indexed Annuity

Protected growth + flexible access for retirement

Principal Protection0% minimum annual interest

Crediting StrategiesMultiple options available

Tax DeferralTaxes deferred until withdrawal

Free Annual Withdrawals5% annually, increases to 10% with Elevation riders

Best for: Conservative to moderate investors seeking long-term retirement growth who want ...

Teton 7

Fixed Indexed Annuity

Protected growth with guaranteed income for life

Principal Protection0% annual floor on interest credits

Interest Crediting FlexibilityMultiple crediting strategies available

Interest Lock-InGuaranteed annually

Free Withdrawals5% per year standard; 10% with Elevation riders

Best for: Conservative investors nearing or in retirement who want principal protection, g...

Teton 7

Fixed Indexed Annuity

Protected growth + tax deferral + flexible income options

Principal Protection0% minimum annual interest

Flexible Crediting StrategiesMultiple strategy options available

Free Withdrawals5% annually (10% with Elevation riders)

Withdrawal Charge Periods5-, 7-, 10-, or 14-year terms

Best for: Conservative to moderate investors nearing or in retirement who want principal p...

Teton 7

Fixed Indexed Annuity

Protected growth with market upside & guaranteed income

Annual Floor Protection0% minimum guaranteed

Interest Credit Lock-in100% protection of earned interest

Free Withdrawals5% annually (10% with Elevation riders)

Multiple Crediting StrategiesFlexible allocation options

Best for: This product is best suited for retirees and near-retirees who want principal pr...

Teton 7

Fixed Indexed Annuity

Protected growth with choice of fixed or indexed crediting strategies

Annual Floor Protection0% minimum annual credit

Interest Credit Lock-InPermanent once credited

Flexible Crediting StrategiesMultiple strategy options

Free Annual Withdrawals5% base, 10% with riders

Best for: Retirees and near-retirees seeking principal protection with moderate growth pot...

Teton Bonus 10

Fixed Indexed Annuity

Fixed Indexed Annuity with Immediate Bonus & Principal Protection

Premium Bonus3-5% depending on term length

Principal Protection100% guaranteed

Annual Floor Protection0% minimum annual floor

Interest Lock-InPermanent once credited

Best for: Individuals approaching or in retirement who prioritize principal safety and gua...

Teton Bonus 14

Fixed Indexed Annuity

Principal-Protected Growth with Immediate Bonus

Premium Bonus3-5%

Principal Protection100% protected

Annual Floor Protection0% annual minimum

Interest Credit Lock-InPermanent crediting

Best for: Investors 10+ years from retirement who prioritize principal safety, want immedi...

Teton Bonus 5

Fixed Indexed Annuity

Principal-Protected Growth with Immediate Bonus & Flexible Income

Premium Bonus3-5% depending on term length (5, 7, 10, or 14 years)

Principal ProtectionNo direct downside market risk

Annual Floor Protection0% annual floor on indexed strategies

Interest Lock-InPermanent

Best for: Conservative to moderate investors seeking long-term retirement savings with pri...

Teton Bonus 7

Fixed Indexed Annuity

Fixed Indexed Annuity with Instant Bonus & Market Upside

Premium Bonus3-5%

Principal Protection100%

Annual Floor0% minimum

Interest Lock-InPermanent credit

Best for: Individuals aged 0-90 seeking tax-deferred retirement savings who want principal...

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...

Vega 10

Fixed Indexed Annuity

Guaranteed lifetime income + indexed growth + no income rider fees

Dual Account StructureBenefit Value grows as a multiple of interest credits

Annual Floor Protection0% annual floor

Interest Credit Lock-inPermanent lock-in each crediting term

Multiple Withdrawal OptionsWaiting periods: 7, 10, or 14 years depending on product term

Best for: Individuals age 0–90 seeking long-term retirement income growth with principal p...

Vega 14

Fixed Indexed Annuity

Protected growth + guaranteed lifetime income

Principal Protection0% annual floor minimum

Lifetime Income GuaranteeAvailable for single or joint coverage

Growth PotentialAnnual interest lock-in; no negative credits

Accelerated WithdrawalsAvailable as alternative to lifetime withdrawals

Best for: Individuals seeking long-term retirement accumulation with principal protection,...

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...

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...

Vega 7

Fixed Indexed Annuity

Protected growth + guaranteed lifetime income in one solution

Principal Protection100% principal protected

Lifetime Income GuaranteeGuaranteed for life

Growth OptionsMultiple strategies available

Withdrawal Flexibility7, 10, or 14-year terms

Best for: People aged 40-85 who want to accumulate retirement savings over 7-14 years whil...

Vega Bonus 10

Fixed Indexed Annuity

Lifetime Income + Growth + Wealth Transfer

Benefit BonusVaries by term; included at no cost

Annual Floor Protection0% floor

Principal Protection100% protected

Three Withdrawal OptionsAfter 7, 10, or 14-year wait

Best for: Individuals 50+ who want guaranteed lifetime retirement income, principal protec...

Vega Bonus 14

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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...

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 ...

Vega Bonus 7

Fixed Indexed Annuity

Principal-Protected Growth + Guaranteed Lifetime Income

Benefit BonusVaries by product

Annual Floor Protection0% minimum annual floor

Interest Lock-InPermanently locked gains

Increasing Lifetime WithdrawalsLifetime guarantee

Best for: Retirees and pre-retirees (ages 40-90) seeking principal protection, guaranteed ...

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.

Silac Insurance Company Products

Fixed Indexed Annuities

Explore Silac Insurance Company fixed indexed annuity products with current rates and features.

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Multi-Year Guaranteed Annuities

Compare Silac Insurance Company MYGA products with guaranteed rates and terms.

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Immediate Annuities (SPIA)

View Silac Insurance Company single premium immediate annuity options.

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Deferred Income Annuities (DIA)

Explore Silac Insurance Company deferred income and QLAC products.

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