Last updated October 12, 2026. California rates are refreshed weekly; confirm today’s rate before you apply.
Delaware Life offers the two highest S&P 500 caps available in California this week. It also had its AM Best outlook revised to negative in July 2026. I’m Kevin Edwards, an independent California annuity agent. Both facts matter, so this page lays out each one plainly.
Delaware Life at a Glance
| Owner | Group 1001 Insurance Holdings, LLC |
| Domicile | Wilmington, Delaware |
| AM Best rating | A- (Excellent), affirmed July 31, 2026; outlook revised to negative from positive |
| Sold in California | 4 MYGAs and 5 fixed index annuities in this week’s data |
| Best CA MYGA yield | 5.95% for 5 years (Pinnacle Plus MYGA 5) |
| Best CA S&P 500 cap | 12.00% with a 10-year surrender period (Target Growth 10), the highest in California |
Delaware Life’s Financial Strength: The July 2026 Outlook Change
On July 31, 2026, AM Best affirmed the A- (Excellent) financial strength rating of Delaware Life Insurance Company and its affiliate Clear Spring Life and Annuity Company, both owned by Group 1001, and revised their outlooks to negative from positive.
AM Best assessed the group’s balance sheet strength as adequate and its operating performance as strong. It also cited concerns about the group’s enterprise risk management because of internal control weaknesses in financial reporting tied to the reclassification of affiliated investments.
What that means for you: a negative outlook is not a downgrade, and the rating remains in AM Best’s Excellent range. It signals AM Best sees a meaningful chance the rating could move lower. A-minus is also the lowest rating among the six carriers I review in this series.
Delaware Life Annuity Rates in California This Week
MYGAs (Pinnacle Plus)
| Product | Term | Guaranteed yield | Deposit for this rate | Lowest entry | MVA | Notes |
|---|---|---|---|---|---|---|
| Pinnacle Plus MYGA 3 | 3 years | 5.60% | $100,000+ | $25,000+ at 5.30% | Yes | — |
| Pinnacle Plus MYGA 5 | 5 years | 5.95% | $100,000+ | $25,000+ at 5.65% | Yes | — |
| Pinnacle Plus MYGA 7 | 7 years | 5.85% | $100,000+ | $25,000+ at 5.60% | Yes | — |
| Pinnacle Plus MYGA 10 | 10 years | 5.85% | $100,000+ | $25,000+ at 5.60% | Yes | — |
Fixed Index Annuities (S&P 500 annual cap)
| Product | Surrender period | S&P 500 cap | Guaranteed min. cap | Riders | Notes |
|---|---|---|---|---|---|
| Retirement Stages Select 5 | 5 years | 10.90% | 0.25% | None | MVA |
| Retirement Stages Select 7 | 7 years | 11.65% | 0.25% | None | MVA |
| Target Growth 10 | 10 years | 12.00% | 0.25% | None | — |
| PrimeStart Bonus 10 | 10 years | 7.25% | 0.25% | None | — |
| TruePath Income™ | 10 years | 5.00% | 0.25% | Must elect 1 of 4 | MVA |
My Take on Delaware Life
Where Delaware Life can fit: growth-focused FIA buyers who are comfortable with an A-minus carrier on a negative outlook in exchange for the highest starting caps in California.
What to weigh carefully:
- Every Delaware Life FIA here has a 0.25% guaranteed minimum cap. The starting cap is guaranteed only for the first year, so a high cap today with a very low floor puts more weight on how Delaware Life renews caps in later years. Ask for the renewal history.
- Compare the extra cap with what you give up in rating. Global Atlantic’s A-rated ForeAccumulation II 7 is 0.40% lower at 11.25%, with a 1.00% minimum cap and no MVA.
- If you buy, consider keeping the amount with any one insurer within what the California Life and Health Insurance Guarantee Association covers, and check the current rating before you add money.
On MYGAs, Delaware Life’s Pinnacle Plus 5 (5.95%) is competitive but not the leader, and Global Atlantic’s A-rated SecureFore 5 pays 6.00% without an MVA.
How Delaware Life Compares in California
| Term | Delaware Life (best) | Global Atlantic (A rated) | Best in California |
|---|---|---|---|
| 5-year MYGA | 5.95% | 6.00% (SecureFore 5) | 6.10% (Aspida / Axonic) |
| 5-year S&P 500 cap | 10.90% | 11.00% (ForeAccumulation II 5) | 11.00% (Global Atlantic) |
| 7-year S&P 500 cap | 11.65% | 11.25% (ForeAccumulation II 7) | 11.65% (Delaware Life) |
| 10-year S&P 500 cap | 12.00% | 11.00% (ForeAccumulation II 10) | 12.00% (Delaware Life) |
See my Global Atlantic review for the closest A-rated alternative, or browse all annuity company reviews.
Frequently Asked Questions
What is Delaware Life’s AM Best rating?
AM Best affirmed Delaware Life Insurance Company’s A- (Excellent) financial strength rating on July 31, 2026 and revised its outlook to negative from positive.
Why did AM Best put Delaware Life on a negative outlook?
AM Best cited concerns about the group’s enterprise risk management because of internal control weaknesses in financial reporting related to the reclassification of affiliated investments. It assessed balance sheet strength as adequate.
Who owns Delaware Life?
Delaware Life Insurance Company is a subsidiary of Group 1001 Insurance Holdings, LLC. Clear Spring Life and Annuity Company is an affiliate in the same group.
What is the highest Delaware Life cap in California?
As of October 12, 2026, Delaware Life Target Growth 10 offers a 12.00% S&P 500 annual point-to-point cap, the highest in California, with a 0.25% guaranteed minimum cap.
Get a Side-by-Side Quote Before You Buy Delaware Life
I’m an independent agent, so I’m not tied to Delaware Life or any other carrier. Tell me your deposit, timeline and whether you need income, and I’ll compare Delaware Life’s products against the rest of the California market and send you the side-by-side. Request a free annuity quote, or call (877) 854-7396.
Sources
- AM Best Revises Outlooks to Negative for Subsidiaries of Group 1001 Insurance Holdings, LLC (July 31, 2026)
- California fixed annuity (MYGA) rates, Fixed Annuity Expert
- California fixed index annuity rates, Fixed Annuity Expert
Rate source: AnnuityRateWatch.com carrier data via AIP Marketing Alliance, retrieved October 12, 2026, filtered to products available to California residents. MYGA rows show guaranteed yield to surrender; FIA rows show the S&P 500 annual point-to-point cap on strategies with a 0% floor, no strategy fee and a stated guaranteed minimum cap. Products sold only through fee-based advisory accounts are excluded. Rates change without notice and must be verified with the issuing carrier at application.
Kevin Edwards, Integrity Now Insurance Brokers. California Insurance License #0D42517. Annuities are insurance products, not bank deposits, and are not FDIC insured. Fixed index annuities are not a direct investment in the stock market or any index; index-linked interest is subject to caps the insurer may change annually, subject to the guaranteed minimum. Guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Financial strength ratings are opinions of the rating agency, can change at any time, and are not a guarantee of an insurer’s ability to pay claims. Withdrawals before the end of the surrender period may be subject to surrender charges and market value adjustments; withdrawals of taxable amounts may be subject to ordinary income tax and, if taken before age 59½, a 10% federal tax penalty. This page is independent and is not affiliated with or endorsed by any insurance company named. It is for educational purposes and is not tax or legal advice. Product availability and features vary by state. S&P 500® is a registered trademark of Standard & Poor’s Financial Services LLC.