Oceanview Life and Annuity At a Glance: Rates, Products and Reviews

Today’s Best Oceanview Annuity Rates

Term	Product	AM Best Rating	Rate
6 Years	Harbourview Multi-Year Guaranteed Annuity	A	5.50 %
6 Years	Harbourview Multi-Year Guaranteed Annuity	A	5.35 %
10 Years	Harbourview Multi-Year Guaranteed Annuity	A	5.40 %

Compare Oceanview Annuity Rates

Additional Products Offered by Oceanview

Oceanview’s selection of annuities is fairly sparse. This isn’t a provider with so many options that you’ll be struggling to determine which one makes the most sense for you.

Oceanview keeps it simple by offering three total products that are broken down into two types of annuities: MYGAs and fixed index annuities.

Multi-Year Guaranteed Annuities

Oceanview advertises two different MYGA products. The first is the Harbourview annuity, which offers terms of two, three, four, five, six, seven or 10 years.

Harbourview is a safe and low-risk product with a guaranteed minimum crediting rate of 1% and a 20-day free look period built into the contract, so you can fully evaluate your decision before committing.

It has a standard variety of payout options, allowing you to choose between receiving payments for life, in a joint-and-survivor format or in either of those options with a 10-year period certain attached.

Oceanview’s other MYGA option is the Sky Harbourview, which is similar to Harbourview but has different term lengths and unique features.

You can purchase a Sky Harbourview MYGA with terms of three, five, seven or 10 years. This product also has some built-in security that’s not available with Harbourview. Your contract will include both nursing home and terminal illness riders, allowing you to access your money without penalty in certain serious situations.

Fixed Index Annuities

Oceanview offers a single fixed index annuity product, known as the Harbourview Fixed Index Annuity.

This annuity offers protections against market downturns that are largely industry standard and is available in terms of three, five, seven or 10 years.

This annuity also includes nursing home and terminal illness riders, a guaranteed crediting rate of 1% and offers access to numerous crediting strategies.

Customers will have access to strategies with the S&P 500, Nasdaq-100 and Russell 2000.

About Oceanview

Oceanview Life and Annuity, which is based in Denver, has only existed in its current form for a few years. Its ownership situation is complex.

According to the company’s website, its portfolio is managed by Bayview — a much larger company — through Oceanview Asset Management.

While Oceanview’s current name and brand are fairly new, it has already established itself well in the annuity market. The company eclipsed $2.4 billion in annual direct premiums sold in 2022 and is nearing $8 billion in total assets as of June 2023.

Oceanview holds an AM Best Financial Strength Rating of A-, meaning that it is a financially stable company.

Credit Ratings

Credit ratings for annuity providers can help determine a company’s financial strength and stability — an indication that it will be around to guarantee payments to you in the future. Different rating companies use different scales.

Oceanview Life and Annuity Credit Ratings

Rating Company	Credit Rating
AM Best	A-
Fitch	Not Rated
S&P	Not Rated

What Customers Are Saying About Oceanview

There are no clear customer service or satisfaction issues connected to Oceanview Life and Annuity. 

The company is absent from both the 2022 and 2023 editions of the J.D. Power Overall Customer Satisfaction Index Ranking for annuity providers, but this just means that J.D. Power chose not to include it — not that it has poor customer satisfaction.

Oceanview’s NAIC Complaint Index Score of 0.51 is good since it implies that there have been fewer customer complaints than expected for the company’s market size.

The company’s newer brand may also play a role in making it more customer-friendly as it looks to build up its name and identity.

“They’re offering really good competitive rates right now, which we’re seeing with a lot of new companies,” Ryan Cicchelli, owner of the Safe Investing Expert, told Annuity.org.

The company does have several poor reviews left by customers on Google, but this is not unusual for companies in this industry.

They’re offering really good competitive rates right now, which we’re seeing with a lot of new companies.

Ryan CicchelliOwner of the Safe Investing Expert

The National Association of Insurance Commissioners (NAIC) tracks the consumer complaints that each state’s insurance commission receives each year. These are used to compile a company’s NAIC Complaint Index.NAIC Complaint IndexDetermined by dividing the company’s share of complaints in the U.S. market by the company’s share of premiums in the U.S. market. The National Complaint Index is always 1.00, so a score of 2.00, for example, is twice as high as expected in the market.

NAIC Complaint Index for Oceanview

All Policy Types	0.03
Individual Annuities Only	0.51

Oceanview’s Pros & Cons

The pros are simple for Oceanview: the company offers solid products to its customers. Both its MYGA offerings and its fixed index annuities stack up well against competitors.

This is particularly true for the Harbourview Fixed Index Annuity, which offers access to a variety of indexes and crediting strategies. Some competitors have more limited index options.

As solid as those products are, their small number is a major con. Most competitors provide a wider range of annuity types and options, helping customers find a product that fits their specific situation.

Lincoln Financial, for example, sells more individual types of annuities than Oceanview sells total products.

Oceanview’s annuities aren’t as customizable as some competitors. Additionally, the Harbourview MYGA does not include nursing home or terminal illness riders, which are industry-standard features.

Provider Rating Methodology

Annuity.org created a fact-based methodology to analyze the strength, security and reach of different annuity providers. We assessed companies based on their availability, the amount of direct premiums sold, their AM Best Financial Strength Rating and their NAIC Complaint Index score.

Providers received a rating on a five-star scale for each of these categories, with the complaint index and financial strength ratings weighed as the heaviest variables. Then, using a weighted average, each company was assigned an overall star rating.

Annuity.org’s Top-Ranked Providers

Provider	Annuity.org Star Rating
Mass Mutual
New York Life
Pacific Life
Midland National
North American
Western & Southern

Our Rating Panel

The Annuity.org editorial team spoke with several annuity experts to learn more about what is important to customers when searching for a provider and what factors make a company reliable. While Annuity.org designed the methodology, these experts provided feedback during the process and consulted on what factors we should leverage to best help prospective buyers compare providers.