This Security Benefit review is written for one purpose: to help you decide whether Security Benefit is a good insurance company for your needs, your timeline, and the specific product you’re considering. “Good” means different things in different situations. For some people, “good” means strong long-term reliability and a history of honoring guarantees. For others, it means competitive annuity crediting terms, income rider design, and a contract that behaves predictably when it’s time to take withdrawals. At Diversified Insurance Brokers, our advisors help people compare carriers and products side-by-side so you can make a confident decision based on how the policy works in real life—not just marketing language.

If you’re here because you’re asking, “Is Security Benefit a good insurance company?” you’re already doing the right thing. The most expensive mistakes in insurance and annuities usually come from buying a product that was “fine” on paper, but mismatched to the job it was supposed to do—income timing, liquidity needs, beneficiary planning, or tax coordination. This Security Benefit review will walk you through the practical evaluation process we use: financial strength and stability, product fit (especially annuities), how to interpret “ratings,” what to watch for in contract provisions, and the specific questions you should ask before you commit money.

One key point up front: insurance companies are not all “one thing.” Security Benefit may be a strong fit for one annuity goal and not the best fit for another. The right answer depends on the product series, the state you live in, the crediting terms available when you apply, and how you plan to use the contract. That’s why an independent comparison is so valuable—and why this Security Benefit review focuses on the decision framework, not hype.

What “good insurance company” should mean for your decision

In a practical Security Benefit review, the question is not whether Security Benefit is “perfect.” The question is whether the company and the specific product you’re considering align with your priorities. For annuity shoppers, the priorities usually fall into five buckets: (1) the carrier’s long-term reliability and claims-paying reputation, (2) how the contract behaves under real-world withdrawals, (3) how competitive the crediting and income terms are when you apply, (4) how much flexibility you keep if your plan changes, and (5) how cleanly the contract handles beneficiaries.

The reason this matters is simple: a “good” carrier with a poorly matched contract can still create a frustrating outcome. Likewise, a carrier you’ve never heard of could still offer a well-designed product—yet if you don’t understand the surrender schedule, rider rules, and renewal mechanics, you can accidentally lock yourself into a strategy that doesn’t fit. A smart Security Benefit review starts with how you plan to use the policy, not just what the brochure says.

That’s also why Diversified Insurance Brokers compares multiple carriers. You’re not trying to find a “winner.” You’re trying to find the best match for your situation, your timeline, and your goals. If Security Benefit is the best match, great. If another carrier fits better for your intended income start date, liquidity needs, or spouse protection, we’ll show that too.

How to interpret insurance company ratings in a Security Benefit review

Most people begin a Security Benefit review by searching for “ratings.” That’s not wrong—but it can be incomplete if you don’t understand what ratings do and do not tell you. Carrier ratings generally reflect an agency’s opinion of financial strength and the ability to meet ongoing obligations. In plain terms: ratings are a quick way to assess whether a carrier is broadly considered stable. They are not a guarantee, and they do not automatically tell you whether a specific annuity is “good” for income, growth, or liquidity.

The smart way to use ratings is as a filter, not a final decision. If a carrier’s financial strength profile makes you uncomfortable, you don’t force the decision. But if the carrier clears your comfort threshold, the next step is comparing product design: income rider math, surrender schedule, crediting limitations, renewal terms, and what happens when you take withdrawals. That’s where most outcomes are determined. A thorough Security Benefit review keeps ratings in the right place: important, but not the whole story.

If you want a simple checklist, evaluate ratings across multiple agencies (not just one), look for consistency, and then move on to the contract itself. In a retirement income annuity, the contract rules can matter more than the logo on the cover.

Where Security Benefit may fit in retirement planning

In this Security Benefit review, it helps to separate “company” from “contract.” Security Benefit is often discussed in the context of retirement income planning, where the goal is to create predictable cash flow and reduce reliance on market timing. For many retirees, the job is not to squeeze every last ounce of upside. The job is to cover essentials and build a dependable paycheck layer that doesn’t disappear during volatile markets.

That’s also why people compare Security Benefit to other carriers: you’re evaluating how competitive the product terms are when you apply. Crediting strategies, caps, participation rates, spreads, and rider charges can change. The best product in one quarter may not be the best product in the next. So the question “Is Security Benefit a good insurance company?” becomes, “Is Security Benefit offering strong terms for the exact goal I have—right now—in my state?”

If your goal is guaranteed lifetime income, focus your Security Benefit review on the income rider design: how the income base grows, what withdrawal rates apply at different ages, what happens if you add a spouse, and what actions can reduce future income (like excess withdrawals). If your goal is principal protection and stable accumulation, focus on fixed interest terms, renewal history, and the surrender schedule. If your goal is a balance, you need to compare both—because “growth now” and “income later” are not always driven by the same features.

A practical planning approach is to assign each dollar a job. Keep true emergency funds liquid. Assign essential income needs to guaranteed sources (Social Security, pensions, and contractual income). Let growth assets do growth without being forced into withdrawals at the wrong time. When you use that framework, a Security Benefit review becomes much clearer: you can tell whether Security Benefit is being asked to do a job it’s well designed for.

Fixed annuities, indexed annuities, and income strategies: what to compare

One reason people get stuck in a Security Benefit review is they compare “annuities” as if they’re all the same. They aren’t. A fixed annuity is typically about guaranteed interest for a set term, similar in spirit to a CD but with insurance mechanics and tax deferral. A fixed indexed annuity is typically about principal protection plus interest credits tied to an index strategy with limitations. An income-focused annuity strategy is typically about turning part of your assets into a predictable paycheck that can continue for life.

If you’re evaluating Security Benefit for retirement income, don’t let the conversation drift into generic statements like “annuities are bad” or “annuities are great.” Instead, compare what matters: your timeline, your need for predictable cash flow, your comfort with market volatility, your liquidity needs, and your beneficiary goals. The best Security Benefit review is specific: “I want income starting at 67,” or “I want to delay income until 70,” or “I want to protect principal and keep access,” or “I want the most guaranteed paycheck possible.” Those specifics determine which contract design wins.

This is also why we encourage side-by-side illustrations. A strong illustration comparison makes the decision feel obvious. You see the income number, the tradeoffs, the surrender schedule, and what changes when you pick level versus increasing income. That’s more valuable than any single opinion about whether Security Benefit is “good.”

Surrender schedules and liquidity: the most common regret points

In almost every annuity decision, the most common regret is not “I picked the wrong carrier.” The most common regret is “I didn’t understand the surrender period” or “I didn’t realize how withdrawals would affect my income.” That’s why this Security Benefit review spends time on contract mechanics. Even a strong company can’t save a contract that is mismatched to your liquidity needs.

Many annuities allow annual penalty-free withdrawals up to a stated percentage after an initial period, but withdrawals beyond those limits can trigger surrender charges and may reduce future income benefits. If you think you might need large distributions in the next few years—for a home purchase, major debt payoff, gifting, or business needs—those dollars may be better kept outside the annuity. The annuity should be assigned the job it does best: stable accumulation or predictable income planning.

A simple planning tool we use is a “liquidity map.” List what you might need in years 1–5 and fund those needs with liquid assets. Then evaluate the annuity for years 6–20, where its guarantees can actually do their job. When you use that lens, your Security Benefit review becomes a decision about fit—not fear.

Income riders, benefit bases, and the “paycheck” conversation

If your main goal is a lifetime paycheck, the most important part of a Security Benefit review is understanding how income is calculated. Many income-focused annuities use a value called an income base (or benefit base) that is separate from your accumulation value. The income base may grow by a formula and is used to calculate your lifetime withdrawal amount once you activate income. The accumulation value is still real money, but it’s not always the number used to compute your lifetime paycheck.

This is where a lot of confusion happens. People see a “roll-up” number and assume that’s their cash value. In many designs, it’s not. It’s the base used to determine the guaranteed withdrawal amount. A strong Security Benefit review will make this distinction obvious before you sign anything. You should know what number grows, what number can be surrendered, and what actions reduce future income.

You should also evaluate what happens when you add a spouse. Joint lifetime income can be an excellent tool for couples who want survivor income continuity, but it often changes withdrawal rates and rider calculations. The right choice depends on your household budget, Social Security strategy, and how much of your plan must be guaranteed. This is why we model scenarios rather than guessing. A side-by-side illustration is the cleanest way to compare.

If your focus is income, the question “Is Security Benefit a good insurance company?” becomes: “Is Security Benefit offering an income rider design that matches my timeline and provides the stability I’m looking for, at a cost I’m comfortable paying?” That is the decision that matters.

Fees and costs: the right way to evaluate tradeoffs

In any Security Benefit review, fees come up fast—especially when comparing income riders. The mistake is treating fees as automatically “bad” without evaluating what they are buying. If a rider cost is purchasing a contractual paycheck feature that meaningfully reduces your retirement stress, that may be a good tradeoff. If the rider cost is high and the income math doesn’t fit your timeline, it may not be.

The best way to evaluate costs is by outcome. What is the projected guaranteed lifetime income at your desired start date? What are the tradeoffs between level and increasing income? What happens if you take an extra withdrawal in year three? If the cost is justified by a clear improvement in the retirement paycheck outcome, many retirees find the certainty worth it. If the cost buys you very little and reduces flexibility, it may not be the right solution.

Our advisors translate these details into plain English and show you side-by-side comparisons. That’s the fastest way to make a confident decision in a Security Benefit review—because you can see the tradeoffs rather than debating them.

Service expectations: what matters after the policy is issued

Another part of a practical Security Benefit review is what life looks like after the paperwork. Most people don’t interact with an annuity daily, but service still matters: beneficiary updates, address changes, required distribution processing, transfer paperwork, and income activation. A strong carrier and a good agency relationship can reduce friction when you need something done quickly.

One advantage of working with Diversified Insurance Brokers is that you’re not navigating everything alone. If you need help with forms, processing, or clarifying contract rules, our advisors help keep the process organized. That’s especially valuable when you’re coordinating retirement income, because timing mistakes can be expensive and stressful. This is also why our Security Benefit review emphasizes clarity and process: you want fewer surprises later.

If you’re a business owner or you’re coordinating multiple accounts, it becomes even more important that your annuity strategy is easy to administer. A good retirement plan is not just a good illustration—it’s a plan you can actually maintain without constant worry.

Common reasons people consider Security Benefit

People typically land on a Security Benefit review because they’re comparing carriers for one of three reasons: they saw a Security Benefit annuity quote and want to validate the company, they’re considering an income rider and want to understand how it works, or they’re moving funds from an IRA/401(k) rollover and want principal protection with a defined income path.

People also choose Security Benefit when the product design matches their timeline. For example, some retirees want a delayed income plan to start later, while others want to create a paycheck soon. These are different jobs. This is why “Is Security Benefit a good insurance company?” is not a yes/no for everyone. It is a “good for what?” question. Your Security Benefit review should be anchored to a specific objective.

On the flip side, people often decide against a specific carrier or product when liquidity rules don’t match their plan, when they want a different income schedule (level vs increasing), or when another carrier’s current crediting terms or rider design fits better at the time they apply. That’s not a knock on Security Benefit. It’s simply how a competitive annuity market works.

Questions to ask before you buy a Security Benefit annuity

A strong Security Benefit review should leave you with a clear set of questions that prevent surprises. Start with these. What is the surrender schedule, and how long do I need this money to remain committed? What are the free withdrawal provisions, and do they start immediately or after year one? If there is an income rider, how is the income base calculated, how does it grow, and what reduces it? What is the withdrawal percentage at my desired income start age, and what changes if I make the contract joint? Do I want level income or an increasing schedule? How are beneficiaries handled, and what is the default death benefit structure?

Then ask a second layer of practical questions. If I need extra money in year three, what happens? If rates move and I want to reposition later, what are my options? If I die early, what does my family actually receive and how is it paid? If I delay income longer than expected, how does that affect my payout? A good advisor will answer these clearly and show you the numbers. A good illustration will make it easy to see outcomes.

That’s exactly what we do at Diversified Insurance Brokers. If Security Benefit is a strong match, we’ll show you why. If another carrier fits better for your objective, we’ll show you that too. The goal is not to “sell” a carrier. The goal is to build a retirement plan that works.

So, is Security Benefit a good insurance company?

The most honest answer in a Security Benefit review is this: Security Benefit can be a good insurance company for the right person and the right product design. The deciding factor is fit. If your goal is principal protection with a defined retirement income path, and the contract terms available at the time you apply align with your needs, Security Benefit can be a strong candidate worth comparing. If your goal requires different liquidity, different income behavior, or a different crediting design, another carrier may fit better.

The fastest way to get clarity is to run an actual comparison based on your age, state, premium amount, and income start date. That turns the question from opinion to math. Use the calculator above to estimate income options, then request a personalized illustration so you can see side-by-side results across multiple carriers—including Security Benefit if it’s competitive for your goal.

If you want help right now, submit the quote request form and tell us what you’re trying to accomplish. Our advisors will help you compare the market and choose the annuity strategy that fits your retirement plan with confidence.