At Diversified Insurance Brokers, we help retirees and pre-retirees compare annuity carriers based on financial strength, contract design, and real-world income performance— not just headline rates. If you’re asking, “Is Delaware Life a good insurance company?” the answer for many conservative savers is that it can be a strong contender to review alongside other top annuity providers.

Delaware Life focuses primarily on annuities built for principal protection, steady, tax-deferred growth, and guaranteed lifetime income. For investors who dislike stock market swings but still want durable income, these products can play an important role in a well-rounded retirement strategy.

If you’re new to annuities in general, it can help to first understand how a fixed indexed annuity works and how it compares with other retirement tools like IRAs, 401(k)s, and brokerage accounts.

Why Retirees Consider Delaware Life

When we review carriers with clients, we look at how their products stack up against today’s best annuity rates and how they support long-term income goals. Delaware Life is often on the list because:

• Principal Protection: Fixed and fixed indexed annuities protect your premium from market losses while crediting interest based on fixed rates or index methods.
• Dependable Income: Optional income riders can turn your savings into predictable paychecks, similar to the structure discussed on our best retirement income annuity page.
• Clear Contract Designs: Straightforward surrender schedules and penalty-free withdrawal provisions make it easier to understand when and how you can access your money.
• Tax-Deferred Growth: Interest grows tax-deferred until you take withdrawals, allowing more of your money to stay at work for future income.

Types of Delaware Life Annuities You’ll See

Delaware Life doesn’t try to be everything to everyone—they focus primarily on annuities. That can be an advantage if you want a company that specializes in retirement income design.

• Multi-Year Guaranteed Annuities (MYGAs): CD-style fixed rates for a set term, similar to the structures we review on our top annuity rates as of today page. These can work well for laddering maturities and locking in predictable yields.
• Fixed Indexed Annuities (FIAs): Growth linked to market indexes with downside floors. Some designs resemble the Delaware Life Target Growth style of annuity, combining principal protection, index-linked growth, and optional income riders.
• Income-Focused Options: Products that prioritize turning retirement savings into steady income, similar in concept to other Social Security and annuity income strategies.

Who Delaware Life May Fit Best

Based on the clients we work with, Delaware Life annuities may be a good fit for:

• Pre-retirees planning to turn a portion of their assets into guaranteed income within the next 1–10 years and wanting to lock in payout rates today.
• Conservative investors who value principal protection and stable, tax-deferred growth over aggressive market exposure.
• Couples looking for predictable joint-life income that can continue for a surviving spouse.
• IRA and 401(k) rollovers where a portion of qualified savings is repositioned into an annuity to cover core expenses like housing, food, and healthcare. (We often pair this with discussions about how to transfer a 401(k) to an annuity without triggering taxes.)

Key Considerations Before Choosing Delaware Life

Even with a strong product lineup, it’s important to look beyond the brochure. When we compare Delaware Life to other carriers, we review:

• Liquidity: Most contracts include a limited penalty-free withdrawal amount (often 5–10% per year). If you anticipate larger withdrawals or earlier access, we’ll design the structure to fit your needs—or consider alternatives.
• Rider Costs: Income riders can add real value, but they’re not free. We’ll evaluate whether the guaranteed lifetime income justifies the additional fee for your situation.
• Index Crediting Details: For fixed indexed annuities, caps, participation rates, and spreads can change over time. We benchmark these against other carriers and help you understand how they compare to the broader FIA landscape discussed on our fixed indexed annuity education page.
• Legacy Goals: If leaving money to heirs is a priority, we’ll review how the contract’s death benefit compares with other options, often tying in concepts from our annuity beneficiary and death benefit guide.

Example: Turning Savings into Guaranteed Income

Imagine a 66-year-old couple rolling $400,000 of IRA assets into a Delaware Life fixed indexed annuity with an income feature, planning to start withdrawals in three years. We can use the income calculator above to model:

• Single-life vs. joint-life income options
• Different start ages and deferral periods
• How guaranteed income compares with other carriers’ quotes
• How this income integrates with Social Security and other investments

The goal isn’t just to pick a “good company”—it’s to design a coordinated retirement income plan that balances safety, guarantees, and flexibility.

How Diversified Insurance Brokers Helps

As an independent, family-owned firm representing more than 75 top-rated insurers, Diversified Insurance Brokers compares Delaware Life side by side with other leading annuity providers. We’ll show you how their products stack up against today’s best annuity rates, how much guaranteed income you can expect, and what trade-offs you’re making in terms of liquidity and legacy.

For some clients, Delaware Life ends up being the best fit. For others, another carrier offers stronger guarantees or more flexible features. Our job is to help you see those differences clearly so you can decide with confidence.