Over a Century of Experience
Reliance Standard Life Insurance Company has been in business since 1907, offering over 118 years of continuous insurance service in the United States. The company is a part of Tokio Marine Group, one of the oldest and most financially stable insurance groups globally. This long history reflects not only staying power but a consistent ability to meet obligations over both economic booms and downturns.
Their business model focuses heavily on employer-based benefits, making them a common presence in workplace insurance plans across the country. If you’ve ever received group life or disability coverage through an employer, there’s a strong chance you’ve been covered by Reliance Standard—whether you realized it or not.
Financial Ratings You Can Count On
One of the most important indicators of an insurer’s reliability is their financial strength. Reliance Standard is rated:
- A++ (Superior) by A.M. Best
- A+ (Strong) by Standard & Poor’s
- A1 (Strong) by Moody’s
These are top-tier ratings. They mean Reliance Standard is in an excellent position to pay claims, honor annuity payments, and meet long-term policy guarantees—an essential consideration when you’re relying on an insurer for benefits 10, 20, or even 40 years down the road.
Our Professional Opinion on Reliance Standard Annuities
Reliance Standard is a great insurance company, but we like some of its annuities much more than others. Its A++ (Superior) AM Best rating is the highest available. That gives us confidence in the company, but it does not excuse a weak rate or restrictive contract.
We like its fixed annuity designs that guarantee interest for the full initial term, offer first-year access, and do not start another surrender period at renewal. We would generally pass on a contract that guarantees its rate for only one year while charging you to leave for seven. A multi-year guaranteed annuity is a better starting point for fixed-rate savings.
Compare MYGA rates across insurers, then check how each contract’s rate guarantee and withdrawal terms match your needs.
For indexed growth, we like the traditional S&P 500 choices and the availability of shorter surrender periods. The drawback is that caps can change each year while your money is still committed. We prefer a competitive cap locked for the full surrender period, especially when considering a longer contract.
What We Like
- Excellent financial strength: Reliance Standard has AM Best’s highest financial-strength rating.
- First-year access: The reviewed products offer a withdrawal allowance beginning in the first year, subject to their rules.
- No-MVA choices: Some products avoid a market value adjustment, although surrender charges can still apply.
- Enhanced death benefit option: One indexed annuity offers an optional benefit for someone focused on leaving money to family.
What We Don’t Like
- Rates can change during a commitment: Some contracts let Reliance Standard reset interest or indexed crediting terms while surrender charges continue.
- Harsh withdrawal rules: On some products, exceeding the allowance can result in charges on the entire amount withdrawn during the contract year.
- Long indexed commitments: We would generally avoid a ten-year surrender period when the cap can change annually.
- Bonuses can be misleading: A first-year interest enhancement is not the same as an upfront bonus added to your account.
Explore our individual Reliance Standard annuity reviews using the links below to see which designs we like and which ones we would pass on.
Products Offered by Reliance Standard
Insurance Products (typically offered through employers):
- Group Term Life Insurance – Coverage provided to employees, often at no cost for a base amount, with options to buy more.
- Accidental Death & Dismemberment (AD&D) – Pays an extra benefit if death or injury is caused by a qualifying accident.
- Short-Term Disability Insurance – Replaces income for temporary disability lasting a few weeks or months.
- Long-Term Disability Insurance – Offers extended income protection when a disability lasts several months or longer.
- Dental and Vision Insurance – Basic and supplemental policies often offered in bundled employee plans.
- Critical Illness and Accident Insurance – Lump-sum benefits for covered conditions or accidental injuries.
Annuity Products (typically available through financial professionals):
- Fixed Annuities – Provide guaranteed interest for a set period, ideal for conservative investors.
- Fixed Indexed Annuities (FIAs) – Link growth to an underlying index, like the S&P 500, without market losses. These are used for accumulation and income generation in retirement.
Their annuities can typically be funded using:
- Non-qualified cash
- IRAs
- Roth IRAs
- 401(k) rollovers or transfers
Our Reliance Standard Annuity Reviews
- Reliance Accumulator Annuity
- Reliance Guarantee Fixed Annuity
- Reliance Standard Apollo Annuity
- Reliance Standard Eleos Annuity
- Reliance Standard Keystone Index Annuity
Compare Reliance Standard Annuity Income
What Makes Reliance Standard Different?
Unlike insurers focused on direct-to-consumer sales, Reliance Standard works mostly through employers and financial professionals. This allows them to offer low-cost group benefits and supplemental options, making insurance more accessible to working Americans. What sets them apart is this emphasis on group-based protection, which often includes no underwriting and the ability to add family coverage at competitive rates. Employees may even port or convert coverage when leaving a job, providing continued access to protection.
However, customer service challenges are a recurring theme in consumer feedback. Complaints include delayed claims, poor communication, and long processing times for withdrawals or benefit decisions—factors that can affect your experience, especially during times of personal stress or financial need.
Pros and Cons of Choosing Reliance Standard
Pros:
- More than a century of experience
- Strong financial ratings across all major agencies
- Affordable employer-based coverage
- Optional voluntary benefits and family add-ons
- Fixed and indexed annuity options for retirement income
Cons:
- Limited availability of individual (non-group) life policies
- Reported claims processing and communication issues
- Not ideal for consumers seeking high-touch customer service
- Lack of product transparency unless working with a broker
Who Needs Reliance Standard?
Good fit for:
- Employees: If your workplace offers Reliance Standard, it can be a cost-effective way to secure life and disability insurance.
- Employers: Looking to offer broad benefits at scale with minimal underwriting.
- Individuals: Who want to roll over retirement savings into a conservative annuity backed by strong ratings.
- Pre-retirees: Considering a fixed indexed annuity for protected growth and income without market volatility.
Not ideal for:
- Self-employed individuals or retirees looking to purchase insurance independently.
- Policyholders who expect premium customer service and personal attention.
- People who need customized permanent life insurance or long-term care insurance.
Other Types of Insurance and Annuities to Consider
Because Reliance Standard mainly focuses on group-based products, you may need additional or alternative coverage, including:
- Permanent Life Insurance (Whole or Universal Life): Offers lifelong coverage with cash value accumulation.
- Long-Term Care Insurance: Covers assisted living, nursing home care, and other extended support costs.
- Annuities with GLWB (Guaranteed Lifetime Withdrawal Benefits): Ensures a stream of income for life without annuitizing.
- Critical Illness Insurance: For major medical events not fully covered by employer policies.
Each of these products can be funded using retirement accounts (IRA, Roth IRA, 401(k)) or cash. Proper layering of insurance and annuities ensures income protection and legacy planning.
Why Comparing Insurance and Annuity Options Matters
Before buying any insurance or annuity, it’s critical to compare:
- Premium Rates – Are you overpaying for your age, gender, or health status?
- Interest Rates – Especially relevant for fixed annuities and fixed accounts inside indexed annuities.
- Income Payout Options – How much guaranteed income will you receive and for how long?
- Surrender Charges – What’s the cost of accessing funds early, and are waivers available?
- Index Options and Crediting Strategies – Especially for fixed indexed annuities, where participation rates and caps affect growth.
These variables can significantly alter the long-term value of your insurance or annuity. A plan that looks good on the surface might underperform if the internal mechanics aren’t favorable.
Final Thoughts
Reliance Standard is a financially sound company with over a century of history, offering strong group-based insurance and conservative annuity options. However, because they operate largely through employers, individual consumers may find their options limited without professional guidance. And customer service reviews suggest that claims and policy management may not be as streamlined as some competitors.
Don’t Make This Decision Alone.
Contact The Annuity Expert for free, personalized quotes. We’ll help you compare premium rates, interest rates, and guaranteed income payouts—so you know whether Reliance Standard or another company is the better fit for your goals.
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