Headquartered in Hartford, Connecticut, Nassau Life and Annuity Company is a prominent provider of retirement accumulation and income products. The carrier’s roots stretch back to 1851 through its predecessor, Phoenix Life, though its modern iteration began when Nassau Financial Group acquired the business in 2016. Today, the company manages approximately $25.6 billion in assets and specializes almost exclusively in the fixed annuity and fixed indexed annuity (FIA) markets.

For retirement planners evaluating yield against risk, Nassau presents a distinct value proposition: aggressive premium bonuses and competitive guaranteed rates, balanced against a financial strength profile that sits just below the top-tier legacy mutual companies.

Financial Strength and Stability

When analyzing an insurer's ability to fulfill long-term contractual guarantees, financial strength ratings are the baseline metric. Over the past few years, Nassau Financial Group has actively raised capital to bolster its statutory reserves and support its growing annuity blocks.

As of early 2026, Nassau Life and Annuity Company holds a B++ (Good) rating from AM Best. While this indicates a stable claims-paying ability, it is positioned in the fifth tier of AM Best’s 13-level scale. However, the company has seen positive momentum with other rating agencies, notably securing a BBB+ rating from Kroll Bond Rating Agency (KBRA), which cited the carrier's multi-year transformation, enhanced liquidity, and disciplined asset-liability management.

Multi-Year Guaranteed Annuities (MYGAs)

In the fixed-rate market, Nassau’s MYGA portfolio is engineered for individuals seeking strict principal protection and predictable, tax-deferred growth. The company bifurcates its MYGA offerings into two distinct product lines, allowing buyers to toggle between maximum yield and liquidity.

Nassau Simple Annuity

The Nassau Simple Annuity is structured for streamlined accumulation with built-in liquidity. Available for single-premium deposits between $5,000 and $1,000,000, this deferred annuity offers:

  • Guarantee Periods: 4-year or 6-year terms.

  • Liquidity: A standard penalty-free withdrawal provision allowing up to 5% of the contract value annually after the first year.

  • Waivers: Includes terminal illness and nursing home surrender charge waivers (subject to state availability).

Nassau MYAnnuity 5X and 7X

For policyholders willing to forfeit liquidity in exchange for higher guaranteed yields, the Nassau MYAnnuity series is the company's yield-optimized chassis.

  • Guarantee Periods: 5-year (5X) or 7-year (7X) terms.

  • The Liquidity Trade-Off: Purchasers must make an irrevocable election at issue regarding their free withdrawal amount. Selecting the "0% Free Withdrawal" option unlocks the highest yield brackets, often pushing guaranteed crediting rates upward depending on the macroeconomic interest rate environment. Alternatively, buyers can elect a "10% Free Withdrawal" feature at the cost of a reduced fixed rate.

At the end of any Nassau MYGA surrender period, contract holders enter a 30-day window to withdraw funds penalty-free, renew into a new guaranteed rate of a similar or different duration, or annuitize the contract.

Fixed Indexed Annuities (FIAs)

Where Nassau truly competes for market share is within its highly customizable Fixed Indexed Annuity portfolio.These accumulation-focused products are designed to capture multi-year market upside while immunizing the principal against market downturns.

Nassau Bonus Annuity Plus

A flagship in their FIA lineup, the Nassau Bonus Annuity Plus is built for immediate account value acceleration. It features an upfront premium bonus—which can be substantial depending on the applicant's age and state—that immediately compounds within the contract. To offset the cost of this bonus, the product utilizes a 10-year surrender charge schedule and an annual enhanced benefit fee.

Nassau Growth and Athos Annuities

The Nassau Growth Annuity offers a robust selection of index options and crediting strategies, pairing accumulation potential with optional Guaranteed Lifetime Withdrawal Benefit (GLWB) riders. Policyholders can attach riders like Amplified Income to guarantee a lifelong income stream that cannot be outlived, even if the accumulation value drops to zero.

The newer Nassau Athos Annuity is similarly accumulation-focused but introduces next-generation index accounts that can be extended to capture multi-year market cycles, providing greater flexibility over how interest is credited to the contract value.

Surrender Periods and Technical Considerations

When evaluating Nassau Life and Annuity Company products, it is vital to scrutinize the surrender charge schedules. Because Nassau heavily subsidizes its yields and premium bonuses upfront, withdrawing funds in excess of the free withdrawal amount during the surrender period will trigger substantial penalties. Additionally, these premature withdrawals are subject to a Market Value Adjustment (MVA), which can further decrease the surrender value if prevailing interest rates have risen since the contract was issued.