Is Ceres Life a Good Insurance Company
Is Ceres Life a Good Insurance Company
Jason Stolz CLTC, CRPC, DIA, CAA
If you have money sitting in a bank CD, a savings account, or a money market that you want to grow safely without any stock market risk, Ceres Life’s guaranteed annuity products deserve a serious look. Ceres Life is a newer insurance company built from scratch around one idea: give retirement savers a better place for safe money — higher guaranteed rates, tax-deferred growth, and contracts simple enough to explain to a family member in two sentences. The product lineup covers three needs: guaranteed fixed growth through the Ceres Life MYGA, index-linked growth with a built-in income foundation through the Graybar IncomePlus, and accumulation-focused index growth through the Graybar Ascend. Your principal is protected from market losses across all three. Your interest grows tax-deferred — meaning the IRS does not take a cut every year the way they do on a CD. And when you pass away, your full account value goes directly to whoever you named as beneficiary, without going through probate. The company holds an AM Best B++ (Good) rating — one notch below the A- that the largest established carriers hold — but what sets Ceres apart from a typical newer carrier is who built it. CEO Deanna Mulligan spent years running Guardian Life Insurance Company of America, one of the five most financially strong life insurance companies in the United States, before leaving to build Ceres specifically because she believed retirement savers deserved better products at better rates. The financial backing comes from CC Capital, the private investment firm built by Chinh Chu, a former Senior Managing Director at Blackstone — one of the world’s largest asset managers. At Diversified Insurance Brokers, Jason Stolz, CLTC, CRPC, DIA, CAA, helps clients evaluate whether Ceres Life is the right fit for their safe-money bucket — and how it compares to A-rated alternatives competing for the same retirement dollars.
See Real-Term Rates Side by Side
Life Insurance Quoter
Ensure you are receiving the absolute top rates
Current Fixed Annuity Rates
Compare today’s best fixed annuity rates from top carriers.
Current Bonus Annuity Rates
See which annuities offer the highest upfront bonus today.
Request an Annuity Quote
Submit our annuity request form to get personalized rate options.
Lifetime Income Calculator
Use our calculator to see how much guaranteed income your annuity can provide.
What Ceres Life Offers Retirement Savers
| What You Get | How It Works | Why It Matters for Your Retirement |
|---|---|---|
| Guaranteed Fixed Growth | The Ceres MYGA locks in a fixed interest rate for a set term — 3, 5, or 7 years — with no market exposure and no possibility of a rate cut mid-term | Banks can drop your CD rate when you renew. A Ceres MYGA locks your rate from day one through the last day of the term — what you see is what you get |
| Index Growth With Lifetime Income | The Graybar IncomePlus is a fixed indexed annuity — your money grows linked to a market index without direct market risk, and includes an income rider designed to provide guaranteed lifetime withdrawals | For buyers who want their safe money to have upside potential and a guaranteed income stream they cannot outlive — a stronger fit than a pure MYGA for retirement income planning |
| Index Growth for Accumulation | The Graybar Ascend is a fixed indexed annuity focused on building account value — index-linked growth with principal protection, designed for buyers who want more growth potential over a longer horizon | If you have time before you need the money and want more than a guaranteed fixed rate can offer, the Ascend gives you index-linked upside with your principal fully protected from losses |
| Zero Market Risk | Across all three products, your principal cannot go down due to market performance — ever | If you are near retirement or already in it, safe money needs to stay safe. Market downturns cannot touch the principal you place with Ceres Life |
| Tax-Deferred Growth | Interest and gains accumulate without a tax bill each year — you only pay taxes when you actually take distributions | A CD charges you income tax on interest every single year whether you need the money or not. With Ceres, that money stays in the account compounding — the long-term difference adds up substantially |
| Protected for Your Family | If you pass away, your full account value passes directly to your named beneficiary — no probate, no delay, no reduction | Your heirs get the complete balance quickly, without the time and cost of the court system — a meaningful estate planning benefit that bank accounts and CDs do not automatically provide |
| Company Financial Strength | AM Best B++ (Good) — initial rating for a newly launched carrier; AM Best described the capital as “very strong” with risk-adjusted capitalization at the strongest level; led by former CEO of Guardian Life | B++ is one notch below A-. The company is well-capitalized and led by experienced insurance executives — but it is new, and buyers placing larger sums should weigh that against A-rated alternatives |
Three Products for Three Different Goals
Most annuity companies give you one product and try to fit every buyer into it. Ceres Life built three distinct products because retirement savers have three distinct needs — and the right product depends entirely on what you are trying to accomplish with your money. The Ceres MYGA is the simplest of the three: a fixed guaranteed rate for a defined term, with no market linkage, no moving parts, and complete predictability from day one. It is the product to reach for when you want to know exactly what your money will be worth at the end of the term. The Graybar Ascend trades the fixed rate ceiling for index-linked growth potential — your interest is credited based on how a market index performs, with a floor that prevents losses, giving you the possibility of outperforming a MYGA in strong market years while keeping your principal safe in bad ones. It is the right product when you have a longer runway before you need the money and want more growth potential. The Graybar IncomePlus adds a lifetime income dimension to the index-growth structure — it is designed for buyers who want their safe money to eventually become a guaranteed paycheck they cannot outlive, regardless of how long they live or what the market does. For buyers evaluating whether a guaranteed income product fits their retirement picture, our resource on guaranteed lifetime withdrawal benefits covers how income riders work across the FIA market, and our resource on how Social Security and annuities work together covers the income coordination most buyers are thinking through when they evaluate a product like IncomePlus.
Who Built Ceres Life and Why That Matters
Ceres Life is new — and for some buyers, that is the only thing they need to hear to pass. That is a fair position. For others, the people behind the company matter as much as its age. Deanna Mulligan, Ceres Life’s CEO, ran Guardian Life Insurance Company of America — one of five US life insurers holding AM Best’s highest A++ rating — before leaving that role to build Ceres. She did not leave a century-old A++ mutual insurer to build something careless. The financial backing comes from CC Capital, the private investment firm founded by Chinh Chu, a former Senior Managing Director at Blackstone. The $250 million that CC Capital injected into the parent company — The Westaim Corporation, publicly traded on the Toronto Venture Exchange — established the capital base that AM Best itself describes as “very strong” with risk-adjusted capitalization at the strongest possible level. The investment portfolio is managed by Arena Investors, which handles billions in assets and specializes in the fixed income credit work that underpins competitive guaranteed rates. When AM Best assigns B++ to Ceres Life, it is not saying the balance sheet is weak — it is saying the company has not yet built a long operating track record, which is simply the reality of being new. The rating is expected to improve as that track record develops. For context on the carrier Mulligan previously led, our resource on Is Guardian Life a Good Insurance Company covers that comparison. For buyers also evaluating Canvas Life — another technology-first newer annuity carrier — our resource on Is Canvas Life a Good Insurance Company covers that head-to-head context.
The Honest Tradeoff: What You Give Up and What You Get
Ceres Life is not the right fit for every retirement saver, and saying so plainly is more useful than overselling it. The B++ rating means the company has not yet proven itself over years and market cycles the way an A-rated carrier has. Buyers placing larger sums who want the maximum financial strength backstop behind their guarantees may be more comfortable with an A-rated carrier at a slightly lower rate. Our best MYGA annuity rates page shows what the top A-rated carriers offer right now so you can compare directly. Ceres also does not offer life insurance, long-term care coverage, or disability income — if you need those protections, you will need to look at other carriers alongside Ceres. What Ceres does well is focused and genuine: grow and protect your safe retirement money with a product lineup that covers fixed accumulation, index-linked growth, and guaranteed lifetime income, built on a cloud platform designed to keep costs low and service clean. For buyers thinking through whether the safe-money allocation in their retirement plan is working hard enough, our resources on sequence of returns risk, tax-deferred annuity strategies, and whether you can lose money in an annuity cover the core retirement income concepts that make the Ceres product lineup relevant. For Medicare planning alongside retirement income decisions, our resources on hospital indemnity riders for seniors, guaranteed issue hospital indemnity at 65, and how to avoid Medicare late enrollment penalties cover the healthcare cost planning that runs alongside any safe-money decision. For Social Security planning alongside an annuity evaluation, our resources on Social Security claiming for widows, spousal benefits after divorce, and how remarriage affects your benefits cover the income picture that surrounds any annuity decision.
Talk With an Advisor Today
Choose how you’d like to connect—call or message us, then book a time that works for you.
Schedule here:
calendly.com/jason-dibcompanies/diversified-quotes
Licensed in all 50 states • Fiduciary, family-owned since 1980
Frequently Asked Questions: Is Ceres Life a Good Insurance Company?
What does Ceres Life actually do for my retirement savings?
Ceres Life gives you three ways to grow retirement money safely. If you want a simple fixed rate locked in for a set number of years with zero market risk, the Ceres MYGA is the straightforward choice — put in a lump sum, earn a guaranteed rate, get everything back at the end of the term. If you want more growth potential with your principal still protected from market losses, the Graybar Ascend links your interest to a market index so you can benefit when markets do well without losing anything when they fall. If you want your safe money to eventually become a guaranteed income stream you cannot outlive — a paycheck in retirement regardless of how long you live — the Graybar IncomePlus adds a lifetime income rider to the index-growth structure. Across all three, your interest compounds without a tax bill each year, and your beneficiary receives your full account value directly without probate when you pass away. For more on how the guaranteed growth side compares to what the bank pays, our resource on fixed annuities vs. CDs walks through the real difference.
Is Ceres Life safe? It’s a newer company and that concerns me.
That concern is completely fair and deserves a straight answer. Ceres Life is newer — it launched in 2025 — so it does not have a long operating history behind it. AM Best rates it B++ (Good), one notch below the A- that established carriers hold. What is important to understand is why it is B++ rather than higher. AM Best described Ceres Life’s capital as “very strong” and said the risk-adjusted capitalization is at the strongest possible level — those are not words AM Best uses for a weak carrier. The B++ exists because AM Best appropriately limits new carriers until they have built a multi-year track record, not because the balance sheet has problems. The CEO, Deanna Mulligan, ran Guardian Life — one of the most financially strong insurers in the country — before this role. The parent company, Westaim, is publicly traded, which means its finances are audited and publicly visible. None of that eliminates the reality that Ceres is new. Buyers placing larger sums may feel more comfortable at an A-rated carrier; buyers who are comfortable with B++ and want competitive rates alongside strong leadership have a legitimate case for Ceres. Our resource on state guaranty association protections covers the additional safety net that backs annuity contracts in every state regardless of carrier rating.
What is the difference between the Ceres MYGA, Graybar Ascend, and Graybar IncomePlus?
The three products serve three different retirement goals. The Ceres MYGA is a multi-year guaranteed annuity — a fixed rate locked in for your chosen term with complete predictability. You know exactly what the money will be worth when the term ends. It is the simplest and most conservative of the three, best suited for buyers who want certainty above all else. The Graybar Ascend is a fixed indexed annuity built for accumulation — your interest is linked to a market index, so in good market years you earn more than a fixed rate would provide, and in bad years your principal is protected and you simply earn nothing rather than losing money. It suits buyers with a longer time horizon who want to grow a larger balance before they need income. The Graybar IncomePlus adds an income rider to the indexed structure — meaning the contract is specifically designed to eventually turn your accumulated value into a guaranteed lifetime withdrawal, a paycheck you receive regardless of how long you live or how markets perform. It is the right product when your goal is not just to grow money but to create income you cannot outlive. For a deeper look at how lifetime income riders work across the market, our resource on guaranteed lifetime withdrawal benefits covers the mechanics that apply to the IncomePlus and its competitors.
What if I need my money before the term is up?
Ceres Life builds in two ways to access your money without giving up your rate. Starting in year two, you can withdraw up to 10% of your account balance each year — that is a penalty-free withdrawal available to you every year for the life of the contract. On a $100,000 contract, that means up to $10,000 per year is accessible if you need it. The second provision is the death benefit: if you pass away at any point, your full account balance goes to your named beneficiary immediately, with no surrender charge or reduction of any kind. Beyond those two situations, taking out more than the 10% during the contract term involves a market value adjustment — the amount you receive could be slightly more or less than your full balance depending on where interest rates are at that moment. The practical approach is to put into a Ceres product only the money you are reasonably confident you will not need to access in full before the term ends. The MYGA’s three-year option gives you the shortest commitment window if near-term access is a concern. Our resource on whether you can lose money in an annuity explains the market value adjustment in plain terms alongside all the other scenarios where your principal stays protected.
How does Ceres Life compare to A-rated MYGA carriers?
The honest comparison between Ceres Life and an A-rated MYGA carrier comes down to two things: rate and financial strength track record. Ceres was built specifically to be rate-competitive — it is a technology-first platform designed to keep overhead low and pass the savings to policyholders as better rates. Where it trails established A-rated carriers is in operating history. A carrier like Global Atlantic or Fidelity and Guaranty has years or decades of demonstrated performance that Ceres simply has not had time to build yet. For a shorter MYGA term — three years — the financial strength gap between B++ and A- carries less weight than for a longer commitment. For a seven-year term, the gap is more meaningful. The right call depends on the specific rate difference on the day you are comparing and the amount you are placing. If the spread between Ceres and the best A-rated option is small and you are placing a proportionate amount, many buyers choose the A-rated carrier for peace of mind. If Ceres is meaningfully higher and you are comfortable with a newer, well-capitalized issuer, the rate advantage may be worth it. Our best MYGA annuity rates resource shows the full market side by side so you can see exactly where Ceres ranks against A-rated alternatives on any given day, and our resources on Is Global Atlantic a Good Company and Is Fidelity and Guaranty a Good Company cover two of the most active A-rated MYGA competitors for direct comparison.
About the Author:
Jason Stolz, CLTC, CRPC, DIA, CAA and Chief Underwriter at Diversified Insurance Brokers (NPN 20471358), is a senior insurance and retirement professional with more than 25 years of real-world experience helping individuals, families, and business owners protect their income, assets, and long-term financial stability. As a long-time partner of the nationally licensed independent agency Diversified Insurance Brokers, Jason provides trusted guidance across multiple specialties—including fixed and indexed annuities, long-term care planning, personal and business disability insurance, life insurance solutions, Group Health, and short-term health coverage. Diversified Insurance Brokers maintains active contracts with over 100 highly rated insurance carriers, ensuring clients have access to a broad and competitive marketplace.
His practical, education-first approach has earned recognition in publications such as VoyageATL, as well as his agency's featured coverage in Kiplinger— highlighting his commitment to financial clarity and client-focused planning. Drawing on deep product knowledge and years of hands-on field experience, Jason helps clients evaluate carriers, compare strategies, and build retirement and protection plans that are both secure and cost-efficient. Visitors who want to explore current annuity rates and compare options across multiple insurers can also use this annuity quote and comparison tool.
Review More Carrier Reviews: Browse our complete Burial Insurance Company Reviews — covering Mutual of Omaha, Americo, Globe Life, Colonial Penn, and more burial insurance carriers.
Editorial Standards: Diversified Insurance Brokers maintains rigorous editorial standards to ensure accuracy, clarity, and independence in all content. Learn more about our editorial standards and commitment to transparency.
