Western & Southern At a Glance: Rates, Products and Reviews

Today’s Best Western & Southern Annuity Rates

Term	Product	AM Best Rating	Rate
3 Years	SmartSelect	A+	4.50 %
3 Years	SmartSelect Two	A+	4.50 %
5 Years	SmartSelect	A+	4.45 %

Compare Western & Southern Annuity Rates

Get the most up-to-date rates for Western & Southern’s fixed annuity offerings.

Additional Products Offered by Western & Southern

The types of annuities Western & Southern offers include fixed annuities, income annuities, indexed annuities and variable annuities.

Western & Southern’s Fixed Annuities

Western & Southern customers can choose from seven different fixed annuity products. All of these offerings require a single premium payment, except the New Momentum Flexible Premium Deferred Annuity (FDPA).

• The SmartSelect single premium deferred annuity (SPDA) has the most guarantee period options: customers can select from three, four, five, six, seven, nine or 10 years. SmartSelect also comes with an extra 0.15% interest added to the guaranteed rate for account values over $100,000.
• The MultiVantage^® SPDA has a higher maximum issue age (89) than Western & Southern’s other annuities. This annuity also comes with a 1.00% interest rate bonus for the first year of the initial and renewal guaranteed rate. Guarantee periods available are four, five, seven or 10 years.
• The New Momentum annuity is the only flexible premium fixed annuity they offer. The available guarantee periods for this annuity are one, five, six, seven or ten years. New Momentum also includes a 0.75% interest rate bonus for the first contract year.
• The SPDA Series II annuity comes with a 1.00% interest rate bonus for the first contract year and a return of premium guarantee. Customers can choose guarantee periods of one, three or five years.
• The AnnuiQuest has available guarantee periods ranging from one to five or seven years. This annuity includes a return of premium guarantee and a 2.00% interest rate bonus for the first contract year.
• The SmartStep SPDA does not have a market value adjustment feature, unlike many of Western & Southern’s other fixed annuities. This product is only available with a four-year guarantee period but does feature an optional return of premium guarantee.

Western & Southern’s Income Annuities

Western & Southern has two options for income annuities: a single premium immediate annuity (SPIA) and a deferred income annuity.

• The IncomeSource^® Single Premium Immediate Annuity offers a guaranteed increasing payout option (IPO) which raises annual payouts by 1% to 5% for as long as you continue receiving income. The minimum premium for this contract is $10,000 and customers can choose individual or joint payout options.
• The IncomeSource^® Select Deferred Income Annuity is a flexible premium deferred income annuity with a minimum of $10,000 for the initial premium and $1,000 for any additional premiums. Income can be deferred for a maximum of 40 years and payments can occur monthly, quarterly, semiannually or annually. Western & Southern also offers the IPO with this product.

Western & Southern’s Indexed Annuity

The Indextra^® indexed annuity is a single premium deferred annuity that earns interest based on changes in a market index. Like many indexed annuities, Indextra^® combines upside potential with downside protection.

The Indextra^® gives owners the choice of eight index crediting options. Six of these crediting choices are indexed interest options based on the performance of proprietary multi-asset-class indexes, one is based on the S&P 500, and one is a guaranteed fixed rate.

Indextra^® annuity owners can withdraw up to 10% of their contract’s value each year without a withdrawal charge. Any amounts withdrawn more than that amount are subject to a declining withdrawal charge schedule. Customers can choose a withdrawal charge period of five, seven or 10 years.

Western & Southern’s Variable Annuities

Western & Southern offers three flexible premium variable annuities. These products are designed as investments that establish a lifetime income stream in retirement and provide a guaranteed death benefit.

• VAROOM^® is a Variable Annuity for Roll Over Only Money. This annuity must be funded with money from a qualified retirement plan like a 401(k) or IRA. VAROOM^® owners can invest their premiums in low-cost ETFs from iShares and Vanguard, and these assets incur annual charges totaling 1.90%. The initial minimum premium for this product is $25,000, and additional premiums must be at least $1,000.
• The AnnuiChoice variable annuity has a minimum initial premium of $10,000 and a minimum of $100 for additional premiums. AnnuiChoice comes with benefits like dollar-cost averaging, 12 free transfers among investment options each year, guaranteed rate options and automated asset rebalancing. Riders such as a guaranteed lifetime withdrawal benefit (GLWB), enhanced death benefit and enhanced earnings benefit can be added for an additional cost.
• The Pinnacle variable annuity might be more accessible for many consumers, with a minimum initial premium of just $1,000 and a $100 minimum for additional contributions. This product has some of the same benefits as the AnnuiChoice, including dollar-cost averaging, asset rebalancing and limited free transfers. Pinnacle also offers the GLWB and enhanced earnings riders, but no enhanced death benefit.

About Western & Southern

Western & Southern was originally established in Cincinnati, Ohio in 1888. The company completed its first corporate acquisition in 1913 when it purchased the National Progressive Life Company of Cincinnati.

Since then, Western & Southern Financial Group has expanded to encompass a family of companies selling annuities, life insurance and some health products. Western & Southern’s insurance corporations include:

• Integrity Life Insurance Company
• National Integrity Life Insurance Company
• Western-Southern Life Assurance Company
• The Western and Southern Life Insurance Company
• Variable products distributed through Touchstone Securities, Inc.

In 2022, Western & Southern sold over $6 billion in direct annuity premiums, making up 2.16% of the U.S. annuity market, according to the National Association of Insurance Commissioners (NAIC). 

Credit Ratings

If you’re thinking of buying an annuity, it’s important to know about credit ratings for annuity providers. These ratings show how financially stable and strong the provider is. Just keep in mind that different rating companies may use different scales to rate them.

Western & Southern Credit Ratings

Rating Company	Credit Rating
AM Best	A+
Fitch	AA-
S&P	AA

What Customers Are Saying About Western & Southern

Western & Southern has very few customer complaints registered with state insurance commissions. According to data collected by the NAIC, Western & Southern received only one complaint each year in 2020, 2021 and 2022.

The NAIC tracks consumer complaints 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 Western & Southern

All Policy Types	0.02
Individual Annuities Only	0.10

These numbers indicate that Western & Southern receives significantly fewer customer complaints than the industry average.

Western & Southern did not appear in the 2023 edition of the J.D. Power Customer Satisfaction Index Ranking, which measures the overall customer satisfaction of annuity providers.

In 2024, Western & Southern did appear on the J.D. Power Customer Satisfaction Index Ranking and had an average score of 664. This is above the industry average and they ranked sixth overall.

Western & Southern Pros & Cons

Western & Southern has many advantages that make it a strong choice for an annuity company. Still, this provider may not be right for every type of annuity customer. Before purchasing an annuity from any issuer, consider the pros and cons of the company and its products.

Pros

• Wide variety of products: With seven fixed annuities, three variable annuities, two income annuities and an indexed annuity available, Western & Southern has crafted annuity products for a broad spectrum of financial needs.
• Interest rate bonuses and payout increases: Many of Western & Southern’s annuities come with generous rate bonuses or optional payout increases, helping you get the most out of your retirement savings.
• Strong financial strength and customer satisfaction ratings: Western & Southern holds excellent ratings from all the major credit rating agencies and has very few customer complaints with state insurance commissions.

Cons

• Limited options for linked indexes: With Western & Southern’s indexed annuity, you can only choose to credit interest based on the S&P 500 or one of W&S’s proprietary indexes.

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 different 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.