Goldstein Scorecard: B- (dated October 4, 2026). See how it is graded.
Delaware Life Pinnacle Plus MYGA Review: Contract Facts, Rating Watch and the “Brighthouse Pinnacle” Mix-Up
Written & reviewed by Hans Goldstein, EA, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Facts verified against Delaware Life’s Pinnacle Plus rate sheet, snapshot, brochure and ratings pages, and Brighthouse Financial SEC filings, on October 4, 2026 · Updated
Pinnacle Plus is a multi-year guaranteed annuity from Delaware Life Insurance Company (Zionsville, IN; Group 1001), not from Brighthouse. Per Delaware Life’s snapshot (rev. 03/26): 3, 5, 7 or 10-year terms, surrender charges from 8%, an MVA, 10% free from year 2, a $25,000 minimum and issue ages 18 to 85.
AM Best rates Delaware Life A- with a negative outlook (07/31/2026). Delaware Life’s public Pinnacle Plus rate sheet (form PP69CRS), current as of 10/06/2026 and read October 13, 2026: $100,000 and over 5.60% (3-year), 5.95% (5-year), 5.85% (7-year), 5.85% (10-year); under $100,000 5.30%, 5.65%, 5.60%, 5.60%.
Rates are subject to change; confirm the rate on your application date.
Rating watch (checked October 4, 2026): AM Best rates Delaware Life Insurance Company A- (Excellent), outlook negative, as of 07/31/2026; S&P shows A- (Strong) with a negative outlook as of 07/14/2026 and Fitch A- (Strong) on Rating Watch Negative as of 07/22/2026 (Delaware Life Business Highlights). Per the company, AM Best affirmed the A- in July 2026 and revised the outlook from Positive to Negative.
Delaware Life’s update dated September 11, 2026 says it disclosed on June 26, 2026 the reclassification of a material portion of its private credit investments from unaffiliated to affiliated, after a grand jury subpoena from the U.S. Attorney’s Office for the Southern District of New York in early February 2026, and that the SEC is conducting a parallel investigation.
It reports affiliated holdings of 39% of general account invested assets at June 30, 2026, an August 17, 2026 agreement with its parent, TWG Global, to exchange up to $6.5 billion of those investments (subject to regulatory approval), and a target below 10% by June 30, 2027 (Delaware Life update).
What it means: an annuity’s values and any contractual guarantees are backed by the claims-paying ability of Delaware Life Insurance Company.
If an insurer fails, state guaranty associations cover annuity values up to set limits (in California, 80% of value up to $250,000 per owner per insurer; see California guaranty coverage and guaranty limits by state). A rating action is not a default.
It is a reason to keep the amount per insurer within your state’s limit and to read the latest rating before you buy.
Correction (October 4, 2026): an earlier version of this page showed S&P, Moody’s and Fitch as not rated, a Weiss B-, a COMDEX of 62, “Renewal Rate Integrity: Tier B” and “Customer Service: Fair” grades, and described Group 1001 as “formerly Wilton Re Holdings”.
Delaware Life’s own ratings page shows S&P A- and Fitch A-, and no dated primary source supports the other items, so they were removed, along with a star score and competitor recommendations whose rates were not verified.
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, Delaware Life Pinnacle Plus 5-year, the product on this page (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge.
In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Pinnacle Plus: verified contract facts
Delaware Life’s site lists two MYGAs, Apex MYGA and Pinnacle Plus MYGA (checked October 4, 2026). Delaware Life’s documents state that its annuities are issued, and guarantees backed, by the financial strength and claims-paying ability of Delaware Life Insurance Company. Term-specific reviews: Delaware Life Pinnacle 3 MYGA · Delaware Life Pinnacle 7 MYGA.
| Guarantee period | Surrender charge by contract year |
|---|---|
| 3-year | 8%, 7%, 6% |
| 5-year | 8%, 7%, 6%, 5%, 4% |
| 7-year | 8%, 7%, 6%, 5%, 4%, 3%, 2% |
| 10-year | 8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 1%, 0.5% |
| California, 10-year | 7.6%, 6.6%, 5.6%, 4.7%, 3.7%, 2.9%, 2.0%, 1.0%, 0.9%, 0% (shorter terms use the first 3, 5 or 7 years) |
| Feature | Pinnacle Plus (Delaware Life) |
|---|---|
| Issuer | Delaware Life Insurance Company (Zionsville, IN), a member of Group 1001; not offered in New York |
| Policy form | ICC22-DLIC-MYGA in the rate sheet and snapshot (the product page legal text cites ICC14-DLIC-MYGA-01A); state variations apply |
| Current rates | Not posted for today: the public sheet is marked “Current as of 10/06/2026”. Two rate tiers: under $100,000 and $100,000 and over |
| Issue ages | 18 to 85 |
| Premium | $25,000 minimum (qualified and nonqualified); $1M per owner maximum without prior approval |
| Plan types | Nonqualified, IRA, SEP-IRA and Roth IRA |
| Free withdrawal | Year 1: RMD only. Years 2+: 10% of the most recent contract anniversary value, or RMD if greater (the product page FAQ says “up to 7%”; ask which applies) |
| MVA | Applies to withdrawals and surrenders above the free amount; linked to the Moody’s Bond Indices corporate average rate; California applies caps and floors; not applied to penalty-free withdrawals, death benefits, waiver withdrawals or the 30-day window at term end |
| Waivers (no cost) | Nursing home or hospice care and terminal illness, after one year; nursing home waiver requires purchase before the owner’s age 76; subject to state availability |
| Death benefit | Greater of account value or surrender value |
| Minimum rate after the term | Not publicly disclosed in the rate sheet, snapshot or brochure; ask for the contract minimum in writing |
Is there a Brighthouse Pinnacle MYGA?
No. Brighthouse Financial’s fixed rate annuities page lists no product named Pinnacle (checked October 4, 2026). The name belongs to Delaware Life’s Pinnacle Plus. Brighthouse Life Insurance Company’s MYGA-type product is the Brighthouse Fixed Rate Annuity, reviewed on the Brighthouse Fixed Rate Annuity 5 MVA page.
Brighthouse rating note: Brighthouse Life Insurance Company is rated A (Excellent) by AM Best, under review with negative implications since November 10, 2025 (2025 Form 10-K, filed February 24, 2026), and its parent’s acquisition by Aquarian Holdings was still pending insurance regulatory approvals per the Q2 2026 Form 10-Q filed August 6, 2026.
Is there a Delaware Life Power Select annuity?
No. Delaware Life’s all annuities page lists no product named Power Select, among its current products or in its Customer Documentation Center list of legacy annuities, and delawarelife.com/product/power-select returns “not found” (checked October 4, 2026).
The fixed index annuities on its FIA page that day were Growth Pathway, Target Income Choice, Target Growth 10, Retirement Stages Select, TruePath Income, PrimeStart Bonus 10, Momentum Growth, Momentum Growth Plus, DualTrack Income and TrackGuard+. Its multi-year guaranteed annuities were Apex MYGA and Pinnacle Plus MYGA, reviewed on this page.
An earlier hansgoldstein.com page reviewed a “Delaware Life Power Select FIA” with Plus, Plus Bonus and Builder versions. Delaware Life does not sell a product by that name, so that page was retired and now points here. If you were quoted a “Power Select” annuity, ask for the issuing insurer’s exact legal name and the contract form number in writing.
Get an independent read on Delaware Life Pinnacle MYGA before you sign.
Send your email and I'll send you what this product actually guarantees, what the surrender schedule really costs you, and the two or three carriers paying more for the same guarantee. If it's already a good fit, I'll tell you that.
We’ll email it to you. Hans reads every one himself and replies within one business day. Hans Goldstein · NPN 20602398.
Rather talk it through? Or book 15 minutes on Hans’s calendar.
Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength (AM Best) | B | A- (Excellent), negative outlook, as of 07/31/2026; S&P negative outlook and Fitch Rating Watch Negative; SDNY subpoena and parallel SEC investigation disclosed by the company (09/11/2026). |
| Rate competitiveness | Incomplete | Public rate sheet current as of 10/06/2026 (read October 13, 2026): 5.95% 5-year and 5.85% 7-year at $100,000 and over. Grade not yet re-scored. |
| Guaranteed floor | Incomplete | Minimum renewal rate is not in the public documents. |
| Liquidity | B- | 8% first-year charge falling to 0.5% in year 10; MVA; no free withdrawal in year 1 except RMD; 10% from year 2. |
| Costs | A | No annual fee listed; nursing home and terminal illness waivers at no cost. |
| Transparency | B- | Dated rate sheet, snapshot and brochure are public, but the posted sheet is dated ahead, the product page FAQ says 7% free while the PDFs say 10%, and two policy form numbers appear. |
| Overall | B- | Weighted toward financial strength, guaranteed floor and liquidity for a buyer who wants a known result. |
Get the current numbers for your amountor call 213-414-2808
Pros and cons
- Pro: four terms (3, 5, 7 and 10 years) and two premium tiers, with a dated rate sheet, snapshot and brochure posted publicly.
- Pro: $25,000 minimum, issue ages 18 to 85, and no-cost nursing home and terminal illness waivers.
- Con: AM Best A- with a negative outlook, and federal investigations disclosed by the company.
- Con: no free withdrawal in year 1 except the RMD, an 8% first-year charge, and an MVA on excess withdrawals.
- Con: the minimum renewal rate after the term is not in public documents, and the product is not offered in New York.
Who it’s for, and when to look elsewhere
Fits: a buyer who wants a declared rate for 3 to 10 years, will not need more than the RMD in year 1, keeps the amount within the state guaranty limit, and accepts an A- carrier with a negative outlook. To see how an income annuity fits your RMDs and what it pays after tax, try the annuity calculator.
Look elsewhere if: you need New York availability, year-one access beyond the RMD, or a stable rating outlook. A MYGA locks a declared rate for the term, so compare dated rates from several A-rated carriers.
For comparison, A-rated-or-better insurers were paying about 5.50% to 6.05% on 5-year MYGAs and the best nationally available 5-year CDs about 4.70% to 5.00% APY (MYGAs: public carrier rate sheets, October 14, 2026; CDs: Bankrate and Popular Direct, October 18, 2026). Current rates: MYGA rates.
Run your amount: MYGA growth calculator · MYGA vs CD after-tax calculator. Related: Delaware Life annuity hub · Clear Spring Preserve MYGA (also Group 1001) · Is a MYGA from a PE-owned carrier still safe? · 5-year MYGA rates compared
Questions to ask your agent
- Which rate applies on my application date, which tier does my premium fall in, and what is the effective date printed on that rate sheet?
- What is the guaranteed minimum rate after the initial term, in writing?
- Show me the full surrender schedule by year for my state, how the MVA is calculated, and whether my free withdrawal is 10% or 7%.
- Which policy form will my contract use, ICC22-DLIC-MYGA or another state variation?
- How are you paid on this product? The commission comes from the insurer, is built into pricing and is not deducted from my premium. What percentage is it, and does a longer term pay you more? (Background: how annuity commissions work.)
From my desk
When I review a Pinnacle Plus quote, the first thing I check is the date on the rate sheet against the application date, because Delaware Life prints “Current as of” on each sheet and says its rates are for new applications only and subject to change at any time. The second is the issuer line: people search for “Brighthouse Pinnacle”, but the contract is Delaware Life’s.
The number buyers most often misread on a MYGA is the free withdrawal. On Pinnacle Plus it is the RMD only in year 1, then 10% of the last anniversary value. Against other MYGAs I line up the dated rate, the term, the surrender schedule, the MVA and the insurer’s rating outlook side by side.
Hypothetical, not a quote: on a $100,000 5-year Pinnacle Plus contract with an account value of about $100,000 on the last anniversary, a $25,000 withdrawal in year 3 would free $10,000 and charge 6% on the other $15,000, or $900, plus or minus the MVA.
Frequently asked questions
Who issues the Pinnacle Plus MYGA?
Delaware Life Insurance Company of Zionsville, Indiana, a member of Group 1001. Its product page says Delaware Life was founded in 2013 and is authorized in all states except New York, plus DC, Puerto Rico and the U.S. Virgin Islands.
Is there a Brighthouse Pinnacle MYGA?
No. Brighthouse Financial’s fixed annuity page lists no product named Pinnacle (checked October 4, 2026). Pinnacle Plus is a Delaware Life product. Brighthouse Life Insurance Company’s MYGA-type product is the Brighthouse Fixed Rate Annuity.
Is there a Delaware Life Power Select annuity?
No. Delaware Life's all annuities page lists no product named Power Select, current or legacy, and its Power Select product URL returns not found (checked October 4, 2026). Its current fixed index annuities include Growth Pathway, Target Income Choice, Target Growth 10, Retirement Stages Select, TruePath Income, PrimeStart Bonus 10, Momentum Growth, Momentum Growth Plus, DualTrack Income and TrackGuard+.
What are the current Pinnacle Plus rates?
Delaware Life's public rate sheet (form PP69CRS), current as of 10/06/2026 and read October 13, 2026, shows $100,000 and over: 5.60% for 3 years, 5.95% for 5 years, 5.85% for 7 years and 5.85% for 10 years; under $100,000: 5.30%, 5.65%, 5.60% and 5.60%. Rates change at any time, so ask for the rate that applies on your application date, with the rate sheet's effective date, in writing.
What is the Pinnacle Plus surrender schedule?
8%, 7%, 6%, 5%, 4%, 3%, 2%, 1%, 1%, 0.5% for the 10-year term, with the 3, 5 and 7-year terms using the first 3, 5 or 7 years. California uses 7.6%, 6.6%, 5.6%, 4.7%, 3.7%, 2.9%, 2.0%, 1.0%, 0.9%, 0%. An MVA applies to withdrawals above the free amount and is waived at death.
How much can I withdraw from Pinnacle Plus without a charge?
Per the rate sheet and snapshot: in year 1, only the required minimum distribution; from year 2, 10% of the most recent contract anniversary value or the RMD, if greater. Delaware Life’s product page FAQ says up to 7%, so ask which figure your contract uses.
What is Delaware Life’s AM Best rating?
A- (Excellent) with a negative outlook, as of 07/31/2026, per Delaware Life’s Business Highlights page. S&P shows A- with a negative outlook (07/14/2026) and Fitch A- on Rating Watch Negative (07/22/2026).
Sources (checked October 4, 2026)
- Delaware Life, Pinnacle Plus product page: checked October 4, 2026
- Delaware Life, Pinnacle Plus Fixed Annuity Rates (PP69CRS): marked current as of 10/06/2026
- Delaware Life, Pinnacle Plus snapshot (PP905SNAP rev 03/26)
- Delaware Life, Pinnacle Plus brochure (PP60BR rev 03/26)
- Delaware Life, Business Highlights (ratings): ratings as of 07/14 to 07/31/2026
- Delaware Life, Affiliated Investments Reduction Plan and Control Remediation Plan update: September 11, 2026
- Delaware Life, Fixed Index Annuities page and All Annuities page (no Power Select, current or legacy): checked October 4, 2026
- Brighthouse Financial, Fixed Rate Annuities: checked October 4, 2026
- Brighthouse Financial 2025 Form 10-K (AM Best review): filed February 24, 2026
- Brighthouse Financial Q2 2026 Form 10-Q (merger status): filed August 6, 2026
- MYGA and CD benchmark: public carrier rate sheets (MYGAs, October 14, 2026) and DepositAccounts (CDs, September 24, 2026); see MYGA rates
Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398). Not affiliated with Delaware Life, Group 1001 or Brighthouse Financial. Figures are copied from the documents named, with their dates. Examples labelled hypothetical are illustrations, not quotes.
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Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.