Is Axonic a Good Company?
Over 100 Carriers to Quote From. Here are a few of them!
Is Axonic a good insurance company? At Diversified Insurance Brokers, we help clients evaluate annuity providers based on financial strength, product innovation, and long-term reliability. Axonic is a newer name in the annuity market—entering in 2024—but it’s already gaining attention for its competitive rates, flexible product features, and backing from an established financial firm. Here’s what you should know.
Compare Axonic Annuity Options
Explore fixed and guaranteed annuity products in your area.
Company Overview
Is Axonic a Good Insurance Company? Axonic Insurance launched in 2024 as part of a well-established asset management group with a strong financial foundation. While new to the insurance market, Axonic has quickly positioned itself as a competitive player by offering strong guaranteed rates and innovative fixed indexed annuities. The company partners with highly rated insurers to issue its products, giving clients the benefit of both modern product design and trusted underwriting.
Products Offered
- Multi-Year Guaranteed Annuities (MYGAs): Fixed-rate terms from 2 to 10 years, often with some of the highest available rates in the market.
- Fixed Indexed Annuities (FIAs): Index-linked growth potential with principal protection, penalty-free withdrawal options, and flexible crediting methods.
Strengths
- Backed by a financially strong parent company.
- Competitive interest rates on MYGAs and FIAs.
- Flexible liquidity options, including penalty-free withdrawals.
- Product designs that appeal to both conservative savers and growth-oriented retirees.
Considerations
- New entrant in the annuity market—short track record.
- Availability of products may vary by state.
- Smaller brand recognition compared to long-established carriers.
Bottom Line
Is Axonic a good insurance company? Axonic may be a newer player in the insurance market, but it brings a strong financial foundation, competitive rates, and attractive product features. At Diversified Insurance Brokers, we can help you compare Axonic’s offerings to other top-rated carriers to determine if it’s the right fit for your retirement strategy.
Compare Axonic and Other Annuity Options
Start building your guaranteed income strategy with expert help today.
FAQs: Is Axonic a Good Company?
What is Axonic’s financial strength rating?
Axonic’s annuity products are issued by AmFirst Insurance Company, which holds an A- (Excellent) rating from A.M. Best.
When was Axonic founded and how long has it been in business?
Axonic Insurance Services is relatively new, founded in 2022. It partners with AmFirst for underwriting.
What product lines does Axonic offer?
Axonic offers a suite of fixed annuities—particularly multi-year guaranteed annuities (MYGAs)—plus fixed indexed annuities under its Trailhead line. Their products often include features like premium bands (different rates for higher deposit amounts), surrender charge schedules, and limited penalty-free withdrawal amounts in later years.
How competitive are Axonic’s rates?
Axonic’s MYGA rates are among the higher ones in the market, especially for higher premium bands. Examples include ~5.70% for 5-year MYGA (for large deposits) and ~5.45% for 3-year. These rates compare well to similar products from other companies.
What are some limitations or risks with Axonic?
Because it’s new, there is a limited long-term track record compared to older insurers. Also, liquidity is constrained in early years under surrender charge periods, and product features can vary by state. Some of the more attractive rate tiers require large deposit minimums.
Is Axonic a good choice for retirees focusing on guaranteed income?
Axonic can be a strong option for those seeking stability and higher fixed rates, especially through MYGAs. But if you need flexibility or want indexed growth, you should compare offerings carefully—consider product features, state availability, and how surrender periods align with your timeline.
