Lisa Gerstner
About the Kiplinger Readers’ Choice Awards 2025
The Kiplinger Readers’ Choice Awards aim to recognize and celebrate the best products and services in the personal finance arena. We asked you, our Kiplinger community, to help us name the products and services you think have delivered excellent value in the past year.
The survey results, which we’re sharing here in our second annual Readers’ Choice Awards, offer valuable insight into which providers shine when it comes to your everyday interactions and experiences with them. Our Awards recognize excellence in everything from credit cards, banks and brokers to insurers, tax software and financial apps. For each category, we’ve listed an overall winner that earned the highest score. We’ve also highlighted other products and services that earned above-average scores for various criteria we asked readers to assess.
By voting, our community has helped us form our guide to the very best financial products. These are the products and companies that you think stand out from the crowd.
Kiplinger Readers' Choice Awards: Annuity Providers
Annuities are contracts that allow you to pay up front or over time in exchange for the opportunity to create a steady stream of income in retirement; they may be fixed or variable, and they may provide income immediately or in the future. We asked readers to assess their annuity provider based on customer service, their overall satisfaction with the company and how likely they are to recommend it to others.
OVERALL WINNER: New York Life
Outstanding for:
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
- Customer service
- Most recommended
- Overall satisfaction
Readers rated New York Life's annuities highly in all three categories we asked them to judge. Several respondents expressed appreciation for the strength of the firm’s communication with clients. And one reader noted that New York Life’s annuities offer “very competitive rates” compared with other annuities on the market.
New York Life has been serving clients for more than 175 years and holds the highest financial-strength ratings from all four major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s (Aaa), and Standard & Poor’s (AA+). Its annuity products include fixed deferred annuities, variable annuities and immediate income annuities.
Allianz Life Insurance Company of North America
Outstanding for:
- Customer service
- Most recommended
- Overall satisfaction
Allianz Life offers two main categories of annuities: fixed index annuities and registered index-linked annuities, also known as buffered annuities. While the former provides potential for growth linked to market indexes with principal protection, the latter offers higher growth potential with some market risk, featuring various index options and crediting methods.
Multiple readers pointed out that Allianz Life annuities offer great sign-up bonuses. "Their bonuses for annuities are amazing. I opened six months ago and got a 47% bonus annuity,” says one reader. With these sign-up bonuses, a certain percentage of the initial premium is credited to the annuity's value, typically lasting about 18 months.
MassMutual
Outstanding for:
- Most recommended
- Overall satisfaction
MassMutual offers the gamut of annuity products, including fixed annuities, fixed-index annuities, registered index-linked annuities and immediate annuities. MassMutual also holds some of the highest ratings from all major credit rating agencies: A++ from A.M. Best, AA+ from Fitch, Aa3 from Moody’s, and AA+ from Standard & Poor’s.
Nationwide
Outstanding for:
- Customer service
Nationwide earned accolades for its customer service. The firm offers an array of annuity products, including fixed annuities, fixed-indexed annuities, registered index-linked annuities and immediate annuities. Some contracts allow free withdrawals up to a specified percentage annually without surrender charges.
TIAA
Oustanding for:
- Customer service
“Carnegie provided a great benefit to the nation's teachers when he set up TIAA!” says one reader.
Originally established in 1918 to provide retirement services to educators, TIAA has since expanded its offerings to include a broader range of nonprofit and public-sector employees, including professionals in academic, research, medical, government and cultural fields. TIAA earned high ratings from readers, particularly for customer service.
TIAA's annuity offerings, such as the TIAA Traditional Annuity, are available through employer-sponsored retirement plans such as 403(b)s and 401(k)s, as well as IRAs.
Kiplinger Readers' Choice Awards Categories
- Readers' Choice Full-Service Brokers
- Readers' Choice Wealth Management
- Readers' Choice Cash Back Credit Cards
- Readers' Choice Travel Rewards Credit Cards
- Readers' Choice Airline Credit Card Rewards Programs
- Readers' Choice Hotel Credit Card Rewards Programs
- Readers' Choice National Banks
- Readers' Choice Internet Banks
- Readers' Choice Auto Insurance Companies
- Readers' Choice Homeowners Insurance Companies
- Readers' Choice Tax Software
- Readers' Choice Peer-to-Peer Payment Services
-
Baby Boomers vs Gen X: Who Spends More?Baby Boomers and Gen X are guilty of spending a lot of money. Here's a look at where their money goes.
-
Retire in Finland and Live the Nordic DreamHere's how to retire in Finland as a US retiree. It's ideal for those who value natural beauty, low crime and good healthcare.
-
Baby Boomers vs Gen X: Who Spends More?
Baby Boomers and Gen X are guilty of spending a lot of money. Here's a look at where their money goes.
-
You're Close to Retirement and Cashed Out: How Do You Get Back In?If you've been scared into an all-cash position, it's wise to consider reinvesting your money in the markets. Here's how a financial planner recommends you can get back in the saddle.
-
A Financial Expert's Tips for Lending Money to Family and FriendsWhat starts as a lifeline can turn into a minefield if the borrower ghosts the lender. Following these three steps can help you avoid family feuds over funds.
-
Should You Ditch Your Medicare Advantage Plan? Most People DoIf you want to switch your Medicare Advantage plan or enroll in original Medicare, you're not alone. Here's when it's a good idea and how to go about it.
-
The 401(k) Mistake That Could Cost You Millions in Retirement SavingsThinking about reducing your 401(K) contributions in the current market? Here are six reasons why you may want to reconsider.
-
What the HECM? Combine It With a QLAC and See What HappensCombining a reverse mortgage known as a HECM with a QLAC (qualifying longevity annuity contract) can provide longevity protection, tax savings and liquidity for unplanned expenses.
-
I'm an Insurance Expert: Yes, You Need Life Insurance Even if the Kids Are Grown and the House Is Paid OffLife insurance isn't about you. It's about providing for loved ones and covering expenses after you're gone. Here are five key reasons to have it.
-
7 Rules Frequent Flyers Swear ByFrom dodging long lines to avoiding bad coffee, these clever travel rules can help you save time, stay healthy and reduce stress every time you fly.
