Oxford Life At a Glance: Rates, Products and Reviews

Founded in 1965 and headquartered in Phoenix, AZ, Oxford Insurance Company is a subsidiary of U-Haul’s parent company, U-Haul Holding Company. It offers fixed index and multi-guaranteed annuities in every state except New York and Vermont.

Currently, Oxford Life sells four types of annuities: three fixed index annuities (FIAs) and one multi-year guarantee annuity (MYGA).

Oxford Life’s fixed index annuities include: the Royal Select®, the Silver Select® and the Select Series®.

Royal Select®: With the Royal Select® annuity, you can enjoy the rising stock market without having to own stock. Once you deposit funds, you’ll automatically receive an 8% premium bonus. If you’d like, you can choose the guaranteed lifetime withdrawal benefit (GLWB) rider for higher guaranteed lifetime income.

Silver Select®: Silver Select® offers a 4% premium bonus, which will apply immediately upon making a deposit. The GLWB rider for higher guaranteed lifetime income is also available.

Select Series®: Designed to help accumulate funds long-term and build retirement income, Select Series® is offered in durations of three, five, seven and 10 years. It will waive, surrender and withdrawal fees in the event of nursing home care, home health care or terminal illness.

Multi-Select® is Oxford Life’s multi-year guarantee product. Its guarantee periods range from three to 10 years. There is a minimum premium of $20,000, and maximum premiums range from $500,000 to $1,000,000, depending on your age. With the Multi-Select®, you can withdraw interest in the first year and up to 10% of the contract’s value penalty-free after the first year. Additionally, Oxford Life will waive withdrawal penalties for terminal illness, nursing home care or home health care.

Oxford Life’s annuities offer competitive rates, no administrative or annual fees and, in some cases, an immediate bonus, allowing you to see a return on your investment after signing up. During the first year of any annuity, you may withdraw your interest without facing a penalty. After the first year, you may pull 10% of your balance each year, penalty-free. Additionally, if you require nursing home care, home health care or develop a terminal illness, you can make withdrawals penalty-free.

The performance of Oxford Life’s annuities is closely tied to their interest rates. As of September 2024, the current rates are as follows:

If you’re interested in an annuity from Oxford Life, be sure to reach out to the company to request the most up-to-date interest rates. You may also be able to find this information on the website in the agent tools section.

When evaluating an annuity provider, understanding its financial strength and stability is important. Here’s a look at Oxford Life’s credit ratings and company background to help you assess its reliability.

Credit ratings offer valuable insight into the financial strength and stability of an annuity company. Oxford Life received an A (Excellent) rating from AM Best, though it is not rated by Fitch or S&P.

Oxford Life has been in the life insurance and annuity industry for nearly 60 years. It’s a subsidiary of the well-known U-Haul Holding Company and member of AMERCO, a publicly traded financial network. The company sells its annuities through an agent network, providing the financial backing and personalized service that are important when buying annuities and similar products.

The National Association of Insurance Commissioners’ (NAIC) Complaint Index examines customer satisfaction in the life insurance and annuity industry and compares each company’s complaints against the rest of the industry. According to the NAIC, Oxford Life has not had any annuity complaints in the past three years.

Although Oxford Life is smaller than other annuity providers and has a smaller customer base, its high customer satisfaction rate is reassuring. Note that Oxford Life was not part of the 2022 or 2023 editions of the J.D. Power Customer Satisfaction Index Ranking, which measures customer satisfaction for annuity companies.

When considering Oxford Life annuities, it’s essential to weigh the advantages and disadvantages. Below is a breakdown of the key pros and cons to help you decide if their annuity products are the right fit for your financial goals.

Oxford Life is known for its strong financial stability and customer satisfaction, making it a reliable choice for annuity products in 48 states and Washington D.C. Their offerings primarily include fixed and indexed annuities, which are designed to provide guaranteed returns and protection against market volatility. However, potential customers should consider the $20,000 minimum deposit requirement, which may be a barrier for some investors. It’s important for individuals to assess their financial goals and situation to determine if Oxford Life’s annuities align with their needs.

Editor Norah Layne contributed to this article.