AuguStar Financial at a Glance: Rates, Products and Reviews
AuguStar Financial retirement planning includes not only life insurance but also a variety of annuities, including fixed index and multi-year guaranteed annuities, with a wide selection of benefits and protections designed to enhance growth and provide greater security during your later years.
- Written by Lena Muhtadi Borrelli
- Edited By Rachel C. Murphy
- Published: January 29, 2025
- Updated: January 30, 2025
- 5 min read time
- This page features 6 Cited Research Articles
- AuguStar Financial is part of the Constellation Insurance, Inc. family of companies, operating under AuguStar Retirement for its annuities.
- AuguStar Financial annuities include fixed index annuities and multi-year guaranteed annuities.
- It receives strong ratings for both customer satisfaction and financial stability, although it is missing ratings from some agencies like the Better Business Bureau, J.D. Power and S&P Global.
Company Overview
Based in Cincinnati, Ohio, AuguStar Financial brings more than 100 years of experience in the insurance industry.
As part of the Constellation Insurance, Inc. group of insurance companies, AuguStar Financial retirement planning is made up of both AuguStar Life for life insurance and AuguStar Retirement for its annuity products, serving both the United States and Latin America.
According to the National Association of Insurance Commissioners (NAIC), AuguStar Financial holds 0.0463% of market share while earning $1.15 billion in annual premiums. With backing from two of the largest pension funds in North America, AuguStar boasts over $660B under management and $140B in private capital investments. In 2023, it paid $1.1 billion in annuity benefits.
Types of Annuities Offered
AuguStar Financial financial products include both fixed index and multi-year guaranteed annuities (MYGAs).
Fixed Index Annuities
AuguStar Financial offers several fixed index annuities, including the OrionShield, Orbiter Growth and Orbiter Income annuities.
- OrionShield
- The Orion Shield annuity is partially based on market performance but has a contractual floor to provide protection against market downturns. It allows for tax-deferred growth with gains that translate to credited interest. There is a one-year fixed option with market indexes that include the S&P 500, Russell 2000 Index and Barclays Global Trailblazer Index.
- Orbiter Growth
- The Orbiter Growth annuity offers tax-deferred growth by investing in stock market indices but carries the protection of a contractual floor. Like the OrionShield, there is a one-year fixed option with the S&P 500, Russell 2000 Index and Barclays Global Trailblazer Index market indexes. There is also the option to add the Premium Bonus rider, which offers either a 5% or 10% bonus, and additional protections come included, such as a death benefit and Guaranteed Accumulation Protection (GAP) feature.
- Orbiter Income
- The Orbiter Income annuity offers guaranteed lifetime income with tax-deferred earnings. Like the others in its series, it uses stock market indexes with a contractual floor, but there is the option to further grow earnings through the Equilibrium Plus Guaranteed Lifetime Withdrawal Benefit rider that includes guaranteed 10% growth when no withdrawals are made. A death benefit and GAP feature are also included.
Multi-Year Guaranteed Annuities (MYGAs)
AuguStar offers two multi-year guaranteed annuities (MYGAs), the Lunar Lock and Lunar Guard.
- LunarLock
- The LunarLock annuity provides guaranteed growth with protection against market downturns. It is highly customizable with rates based on the term you choose. Terms are available for three, five or seven years and carry an initial premium of $10,000 to $2 million. Additional features include a death benefit and nursing home rider.
- LunarGuard
- The LunarGuard annuity is another MYGA that is very similar to the LunarLock. It guards against market losses while ensuring guaranteed growth. Terms last three, five or seven years and have an initial premium ranging from $10,000 to $2 million. However, while LunarLock is limited to 10% penalty-free withdrawals, LunarGuard allows 12% withdrawals.
Learn More About Your Annuity Options
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Key Features and Benefits
AuguStar Financial annuities include a variety of benefits and features designed to enhance coverage. For example, there is the death benefit, Guaranteed Accumulation Protection (GAP) feature and Equilibrium Plus Guaranteed Lifetime Withdrawal Benefit rider that come with AuguStar’s fixed indexed annuities.
Other AuguStar features include the Premium Bonus rider to provide added growth, while a Nursing Home rider gives extra peace of mind. These extra benefits make AuguStar annuities all the more attractive for growing one’s portfolio while benefiting from extra built-in protections.
Fees and Charges
AuguStar does not publicly disclose the fees and charges for its annuities, but a licensed financial advisor can provide further details.
Customer Service and Financial Stability
AuguStar Financial rates well for both customer satisfaction and financial stability.
According to the NAIC, AuguStar Financial accounts for 0.0165% of market share complaints, with eight total complaints reported. Based on this, it holds a 0.36 customer complaint index, well below the average 1.00 rating.
For financial strength, AuguStar Financial receives strong ratings with an A (Excellent) rating from AM Best. It is not rated by S&P Global but holds a BBB+ rating with Fitch Ratings.
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Evaluating AuguStar Financial Annuities
AuguStar Financial is an experienced provider of life insurance and annuities that enjoys the backing of the Constellation Insurance, Inc. family. Its ratings for customer satisfaction and financial stability are solid, showing a strong commitment to service, making the company a reliable annuity partner. However, there is a limited selection of annuities, with just fixed index annuities and multi-year guaranteed annuities available. Nonetheless, within those options are a generous amount of extra benefits and features that make AuguStar annuities worth a closer look.
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- Over 20 years in finance, progressing from an intern at Morgan Stanley to supporting top financial advisors
- Featured in major publications such as Forbes, TIME, Newsweek, Investopedia, Bankrate and others
- Bachelor of Business Administration (BBA) and Bachelor of Applied Science (BASc) in Marketing, both from St. Petersburg College
6 Cited Research Articles
- AuguStar Financial. (2023, December). OrbiterGrowth Fixed Indexed Annuities. Retrieved from https://augustarfinancial.com/wp-content/uploads/2023/12/9701-OG.pdf
- AuguStar Financial. (2023, December). OrbiterIncome Fixed Indexed Annuities. Retrieved from https://augustarfinancial.com/wp-content/uploads/2023/12/9701-OI.pdf
- J.D. Power. (2023, October 12). Satisfaction with Life Insurance and Annuity Products Climbs as Customers Embrace Digital, J.D. Power Finds. Retrieved from https://www.jdpower.com/business/press-releases/2023-us-individual-life-insurance-annuity-studies
- AuguStar Financial. (2023, September). LunarLock Multi-year Guaranteed Annuity. Retrieved from https://augustarfinancial.com/wp-content/uploads/2023/09/9805-LunarLockClientBrochure.pd
- AuguStar Financial. (2023, September). LunarGuard Multi-year Guaranteed Annuity. Retrieved from https://augustarfinancial.com/wp-content/uploads/2023/09/9805-ILunarGuardClientGuide.pdf
- AuguStar Financial. (2023, September). OrienSheild Fixed Indexed Annuities. Retrieved from https://augustarfinancial.com/wp-content/uploads/2023/09/9701-IOrionShieldClientGuide.pdf