Goldstein Scorecard: C (dated October 4, 2026). See how it is graded.
Integrity Life Pinnacle V Variable Annuity Review (Western & Southern)
Written & reviewed by Hans Goldstein, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Facts verified against the Pinnacle V SEC prospectus and Western & Southern documents on October 4, 2026 · Updated October 4, 2026
Pinnacle is a flexible premium variable annuity issued by Integrity Life Insurance Company, a Western & Southern Financial Group company. It is not a fixed indexed annuity. The current prospectus, for Pinnacle V (post 1-1-12), is dated May 1, 2026: withdrawal charges start at 8% and run 7 years per contribution, the base charge is 1.55% a year, and fund expenses run 0.25% to 3.48%. Western & Southern’s site now lists AnnuiChoice and VAROOM as its variable annuities and Indextra as its fixed indexed annuity.
Correction (October 4, 2026): an earlier version of this page was titled “Western & Southern Pinnacle FIA” and once described a “Pinnacle 9” fixed indexed annuity with an S&P 500 cap. Western & Southern does not sell a fixed indexed annuity by that name: Pinnacle is a variable annuity. This page now reviews Pinnacle V (post 1-1-12), from its May 1, 2026 SEC prospectus, and points to the group’s real fixed indexed annuity, Indextra.
Hans Goldstein is a licensed insurance producer, not a securities representative, and does not sell variable annuities; read the prospectus.
Pinnacle V (post 1-1-12): contract facts
| Item | What the prospectus says |
|---|---|
| Product type | Flexible premium variable deferred annuity. Money goes into variable account options (funds) and fixed accounts; you can lose money, including principal |
| Issuer | Integrity Life Insurance Company, Cincinnati, Ohio (The Western and Southern Life Insurance Company is named as guarantor on the registration statement) |
| Minimum contribution | $1,000 initial; $100 additional |
| Maximum contributions | $1,000,000 if the Annuitant is 75 or younger; $500,000 if 76 or older |
| Maximum age at application | 85 |
| Base contract charge | 1.55% a year mortality and expense risk charge on the variable account value |
| Administrative charge | $30 a year, waived if account value is at least $50,000 on the last day of the contract year |
| Fund expenses | 0.25% to 3.48% of fund assets (year ended December 31, 2025) |
| Transfers | 12 free per contract year, then $20 each |
| Free withdrawal | 10% of account value each contract year (first year: 10% of the initial contribution) |
| Fixed accounts | Guaranteed Rate Options (market value adjustment applies before the end of a guarantee period, with a 0.25% factor) and Systematic Transfer Options ($6,000 minimum for 6 months, $12,000 for 1 year) |
| Free look | 10 days (longer in some states) |
| Annual cost example | Per $100,000 at 5% growth: $1,657.69 lowest, $5,291.88 highest (most expensive funds and riders) |
| Contribution year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8+ |
|---|---|---|---|---|---|---|---|---|
| Charge | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 0% |
| Optional benefit | Current charge | Maximum charge | Charged on |
|---|---|---|---|
| Enhanced Earnings Benefit | 0.20% (age 59 or less), 0.40% (60 to 69), 0.50% (70 to 79) | same | Account value |
| Guaranteed Lifetime Income Advantage (GLIA), individual | 1.25% | 2.00% | Payment Base |
| GLIA, spousal | 1.55% | 2.00% | Payment Base |
| GLIA Plus, individual or spousal | 1.60% | 2.00% | Benefit Base |
Any fixed account values and contract benefits are backed by the claims-paying ability of Integrity Life Insurance Company; the prospectus says so directly. The value in the funds is not protected. The income riders (GLIA, GLIA Plus) pay from a Payment Base or Benefit Base, which is not cash you can withdraw.
Older Pinnacle contracts
A separate Integrity Life prospectus covers contracts bought before 2012: Pinnacle (on or before April 30, 1998), Pinnacle III (May 1, 1998 to July 15, 2001), Pinnacle IV (July 16, 2001 to April 30, 2007) and Pinnacle V (May 1, 2007 to December 31, 2011), per Integrity Life’s Rule 497(j) filing dated May 5, 2026. New York versions are issued by National Integrity Life Insurance Company. If you own one of these, your fees and riders are in that prospectus, not the one above.
If you wanted a Western & Southern fixed indexed annuity: Indextra
Western & Southern lists Indextra as its fixed indexed annuity, issued by Integrity Life Insurance Company in DC and all states except New York. Its other fixed annuities listed on the fixed annuity page are IncomeSource, IncomeSource Select, New Momentum, SmartSelect and SPDA Series II. Index losses are not credited on an FIA, but withdrawal charges can reduce what you get back if you leave early.
| Indextra option | 5-year | 7-year | 10-year |
|---|---|---|---|
| S&P 500 1-year point-to-point cap | 8.50% | 8.25% | 8.25% |
| S&P 500 1-year Cap Lock (cap locked for the withdrawal charge period) | 7.75% | 7.50% | 7.50% |
| S&P 500 1-year Performance Triggered rate | 7.90% | 7.85% | 7.90% |
| Fixed Interest Option, 1-year rate | 4.70% | 4.60% | 4.60% |
| Fixed Interest Option, multi-year (rate for the withdrawal charge period) | 4.50% | 4.25% | 4.25% |
| Contractual minimums (same sheet) | Fixed option 2.50%; S&P 500 cap and trigger 1.00%; participation 10% |
Get an independent read on Integrity Life Pinnacle Variable 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.
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Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | A | AM Best A+ (Superior) for Western & Southern’s life insurers, per the Western & Southern financial strength page (ratings correct as of April 24, 2026) |
| Rate or cap competitiveness | Not graded | A variable annuity has no declared rate or cap; returns depend on the funds you pick |
| Guaranteed floor | Incomplete | No floor on fund values. Guaranteed Rate Option rates are not in the prospectus |
| Liquidity | C | 7-year withdrawal charge from 8% on each contribution, 10% free withdrawal, MVA on Guaranteed Rate Options |
| Costs | C- | 1.55% base charge plus 0.25% to 3.48% fund expenses, plus up to 1.60% current for GLIA Plus |
| Transparency | B | Full prospectus on SEC EDGAR; fixed account rates and whether new sales are open are not published |
| Complexity (replaces the old Complexity Index) | C | Funds, fixed accounts with MVA, three income rider choices with separate bases |
| Overall | C | Strong issuer; high stacked costs and a 7-year schedule per contribution |
Pros and cons
- Pro: issued by Integrity Life, whose group carries AM Best A+ (Superior) per Western & Southern (April 24, 2026).
- Pro: low entry point ($1,000 initial) and a 10% annual free withdrawal.
- Pro: optional lifetime income riders (GLIA, GLIA Plus) for someone who wants market exposure plus an income floor and accepts the cost.
- Con: 1.55% base charge before fund expenses; with a rider, total annual cost can pass 3% a year (highest cost example $5,291.88 per $100,000).
- Con: each new contribution restarts its own 7-year withdrawal charge, starting at 8%.
- Con: you can lose money in the funds; the income rider base is not cash.
Who it’s for, and when to look elsewhere
Fits: someone who already owns a Pinnacle contract and wants to understand it, or an investor who wants tax-deferred fund investing with an optional lifetime income rider and has a long horizon.
Look elsewhere if: you want a known rate or no market loss. A MYGA locks a declared rate for the term. For comparison, A-rated-or-better insurers were paying about 5.80% to 6.00% on 5-year MYGAs and the best nationally available 5-year CDs about 4.35% to 4.50% APY on September 24, 2026 (AnnuityRateWatch carrier data; DepositAccounts). Current rates: MYGA rates. If you want index-linked interest with no index losses credited, look at an FIA such as Indextra above, and read fixed vs variable annuities.
Questions to ask your agent
- Is Pinnacle V open to new purchases in my state today, and which prospectus date applies to my contract?
- What rate is the Guaranteed Rate Option paying now, what is its contractual minimum rate in writing, and how does the MVA work if I leave early?
- Show me the full surrender (withdrawal charge) schedule for each contribution, the free withdrawal amount, and the dollar cost if I need my money in year 3.
- What is my total annual cost: 1.55% base, the actual fund expense of the funds you are recommending, and any rider charge?
- How are you paid on this product? Commission comes from the insurer, is built into the contract pricing and is not deducted from premium; ask the percentage and whether a longer charge period pays more (how annuity commissions work).
From my desk
When someone sends me a variable annuity contract, the first thing I add up is the yearly drag: the base charge, the actual fund expense of the funds they hold, and the rider charge. On this contract that is 1.55% plus 0.25% to 3.48% plus up to 1.60% for GLIA Plus. Hypothetical: at 1.55% + 0.80% + 1.60%, the funds have to earn about 3.95% a year before the owner is ahead. Then I compare that with what a MYGA pays for the same term with no market risk.
The number buyers most often misread on this type of product is the income rider’s Benefit Base. It grows on paper, but it is not cash and it is not what you get if you surrender. I also check which contribution dates are still inside the 7-year charge, because every added contribution has its own clock. I do not sell variable annuities, so my job here is a second opinion: what it costs, and whether a fixed product does the job cheaper. See annuity second opinion, or run the numbers in the surrender charge calculator, the annuity calculator and the income rider vs annuitization calculator.
Frequently asked questions
Is there a Western & Southern Pinnacle fixed indexed annuity?
No. Pinnacle is a flexible premium variable annuity issued by Integrity Life Insurance Company, a Western & Southern Financial Group company, and registered with the SEC. The fixed indexed annuity Western & Southern lists on its site is Indextra, also issued by Integrity Life.
Is Pinnacle still sold?
Integrity Life still files an updated Pinnacle V (post 1-1-12) prospectus each year (the current one is dated May 1, 2026). Older versions (Pinnacle, Pinnacle III, IV and V before 2012) were sold only through December 31, 2011. Western & Southern’s variable annuity page lists AnnuiChoice and VAROOM, not Pinnacle, as of October 4, 2026, so ask whether Pinnacle V is open to new purchases in your state.
What are the Pinnacle V surrender charges?
Per the May 1, 2026 prospectus, each contribution has its own withdrawal charge of 8%, 7%, 6%, 5%, 4%, 3% and 2% in contribution years 1 to 7, then 0%. You can take a Free Withdrawal Amount of 10% of account value each contract year without a charge.
What does Pinnacle V cost each year?
The base contract charge is 1.55% a year of the value in the variable account options, plus a $30 annual administrative charge waived at $50,000 or more. Fund expenses run 0.25% to 3.48%. The optional GLIA Plus income rider is 1.60% a year of the Benefit Base at current rates (2.00% maximum).
Does Hans Goldstein sell Pinnacle?
No. Hans Goldstein is a licensed insurance producer, not a securities representative, and does not sell variable annuities. He can compare what a variable annuity costs against fixed options such as MYGAs.
Related reading: Fixed vs variable annuity · How annuity crediting works · Are annuities FDIC insured? · FIA cap rates 2026
Sources (checked October 4, 2026)
- Integrity Life Insurance Company, Pinnacle V (post 1-1-12) prospectus, Form N-4 Post-Effective Amendment 20, dated May 1, 2026, filed April 24, 2026 (SEC EDGAR)
- Integrity Life Insurance Company, Rule 497(j) letter for Pinnacle, Pinnacle III, IV and V (pre 1-1-12), May 5, 2026 (SEC EDGAR)
- Western & Southern Financial Group, Variable annuities page (AnnuiChoice, VAROOM), checked October 4, 2026
- Western & Southern Financial Group, Fixed annuity page and Indextra page, checked October 4, 2026
- Western & Southern Financial Group, Indextra Series rate sheet CF-77-84004-5710-2607, effective September 15, 2026 (carrier sheet, IMO-hosted copy)
- Western & Southern Financial Group, Financial strength ratings, ratings correct as of April 24, 2026
About Hans Goldstein: Independent retirement income specialist. CA Life License #4273294. NPN #20602398. Reviews 30+ carriers. Phone: 213-414-2808. Email: hans@hansgoldstein.com.
Get a second opinion before you sign
Talk to Hans Goldstein, a licensed independent insurance producer.
A fixed indexed annuity ties up your money for 7 to 15 years. Cap rates renew annually and can drop. Income riders have separate benefit bases that aren't cash. Get an independent review before you commit your retirement savings to a multi-year contract.
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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.