Best & Worst Individual Annuity Providers: J.D. Power, 2024

The study, which was redesigned for 2024, measures the experiences of customers of the biggest individual annuity companies in the United States across these core dimensions, in order of importance: 

Trust Value for price Ability to get service Ease of doing business People Product offerings Digital channels Problem resolution

The new study, fielded from April through July, is based on responses from 3,914 individual annuity customers.

According to J.D. Power, annuity providers typically offer a variety of resources to help customers learn about a product. Agents and advisors can encourage engagement with these tools during the onboarding process, even if the agent or advisor completes the application for the customer. 

The study showed that understanding of the annuity contract and associated costs and fees is significantly higher when the agent or advisor provides the customer with information on navigating the provider’s website and/or mobile app or directs the customer to available educational videos about the annuity during onboarding.

The accompanying charts break down the firms that scored above and below the industry average for annuity provider satisfaction.