Is GILICO a good annuity company?
It can be, for the right buyer. Guaranty Income Life Insurance Company holds an A- (Excellent) rating from AM Best, and it has been writing policies out of Baton Rouge since 1926, nearly a century of continuous operation. That history counts for something: this is a carrier that has weathered the Great Depression, the 2008 financial crisis and Hurricane Katrina without breaking its promises to policyholders. It is a smaller, regional company rather than a national household name, and its footprint through independent agents tends to run heavier in the South and Midwest. If A- meets your minimum and you like the idea of a smaller carrier with a long track record, GILICO is worth a look, particularly when its rate happens to be competitive that week.
GILICO at a glance
| Legal name | Guaranty Income Life Insurance Company |
|---|---|
| Also known as | GILICO |
| Headquarters | Baton Rouge, Louisiana |
| Founded | 1926 |
| AM Best rating | A- (Excellent), verify the current rating before any transaction |
| Products | Fixed annuities, whole life insurance |
| Distribution | Independent agent channel |
| Availability | Select states, confirm before applying |
Where GILICO sits on the AM Best scale
A- is grade 4 of 13. Most buyers look for A- or better for a long-term contract.
- A++
- A+
- A
- A-GILICO
- B++
- B+
- B
- B-
- C++
- C+
- C
- C-
- D
Today's rates for GILICO
Rates change often and vary by state, term and deposit size. Get today's numbers for your state, side by side with other top-rated carriers. Free, with no obligation.
Who is GILICO?
Guaranty Income Life Insurance Company, known in the industry simply as GILICO, is a fixed annuity carrier headquartered in Baton Rouge, Louisiana. The company dates back to 1926, and it built its business as a regional player rather than a national one, focusing on traditional fixed annuities and whole life insurance sold through independent agents concentrated in the South and Midwest. It is not a household name, but rate-conscious buyers who shop the broader market do occasionally find it near the top of a fixed annuity comparison.
GILICO's financial strength and history
Nearly a century in business is not nothing. GILICO has been headquartered in Baton Rouge since 1926, which means its operating history runs through the Great Depression, several recessions, the 2008 financial crisis and Hurricane Katrina, a storm that hit its home city directly. Through each of those events, the company continued meeting its obligations to policyholders. AM Best currently rates GILICO A- (Excellent), and, as with any carrier, it is worth confirming that rating is still current before you sign anything.
What annuities does GILICO offer?
GILICO's shelf is intentionally simple, built around traditional fixed products sold through independent agents:
- Fixed annuities and MYGAs. These lock in a guaranteed rate for a chosen term, and the carrier shows up from time to time in multi-carrier rate comparisons, especially in the states where it holds a license.
- Whole life insurance. A standard permanent life insurance line sits alongside the annuity products, entirely separate from the annuity contracts themselves.
GILICO's fixed annuities generally include a guaranteed minimum interest rate, an annual free withdrawal of up to 10% of the contract's value, and a death benefit that pays the full account value to your beneficiary. Because rates move regularly, check the quote box on this page for current numbers rather than relying on a printed figure that may already be stale.
GILICO pros and cons
A carrier with GILICO's history offers real stability, balanced against the limits of operating at a smaller, more regional scale. Weigh both sides before deciding whether it fits your situation.
Reaching Guaranty Income Life Insurance Company
| Contact method | Details |
|---|---|
| Website | www.gilico.com |
| Customer service phone | 1-800-535-8110 |
| Mailing address | Guaranty Income Life Insurance Company, 2638 S Sherwood Forest Blvd, #200, Baton Rouge, LA 70816 |
We can compare GILICO's current rate against other top-rated carriers so you can see exactly where it stands before you commit.
Other annuity companies to consider
- Mountain Life: another MYGA-focused regional carrier
- Pacific Life: a larger, nationally available option
- Upstream Life: a smaller carrier worth comparing on rate and terms
Pros and cons
Pros
- Nearly 100 years of continuous operation since 1926
- A- (Excellent) rating from AM Best
- Rates occasionally land competitively against larger A-rated carriers
- A simple, easy-to-understand fixed annuity design
- Louisiana guaranty association backstop up to standard state limits
Cons
- A- is AM Best's lowest Excellent grade, one notch under a full A
- Only licensed in a limited set of states compared to national carriers
- A smaller company with a narrower product shelf than larger competitors
- Rated by AM Best alone, with no second agency for cross reference
Frequently asked questions
Where is GILICO based, and how long has it been in business?
GILICO is headquartered in Baton Rouge, Louisiana, and traces its roots back to 1926, giving it nearly a century of operating history. It built its reputation as a regional fixed annuity and whole life carrier, distributed mainly through independent agents across the South and Midwest, rather than as a nationally advertised brand.
What does GILICO actually sell?
Its lineup centers on traditional fixed annuities, sometimes marketed as multi-year guaranteed annuities, plus a whole life insurance product line. The fixed annuities lock in a guaranteed rate for a set term and typically include an annual free withdrawal allowance along with a death benefit that pays the full contract value to a named beneficiary.
How financially strong is GILICO?
AM Best currently rates the company A- (Excellent). That places it a step below full A and higher rated peers but still within AM Best's Excellent category overall. GILICO's own operating history spans the Great Depression, multiple recessions, the 2008 financial crisis and Hurricane Katrina, and it kept paying claims through all of it. Confirm the live rating directly with AM Best before moving forward with any contract.
Is GILICO available in every state?
No. GILICO operates through a defined set of states rather than nationwide, consistent with its history as a regional Southern and Midwest carrier. A licensed independent agent can confirm whether it is currently licensed and actively selling in your state before you go further.
Written and reviewed by
James Forren Warren
Licensed Retirement Income Strategist · License #20551202
James Forren Warren is a licensed Retirement Income Strategist with Tax Free Wealth Plan. For the past five years he has helped individuals and families turn their savings into retirement income they can count on. He writes and reviews the annuity research on this site and keeps it plain: what a product does, what it costs you, and who it actually fits.
Sources
Educational only, not investment, tax or legal advice. Tax Free Wealth Plan LLC is a licensed insurance agency, not a registered investment adviser or broker-dealer. Annuities are not bank deposits, are not FDIC insured and are not guaranteed by any government agency. Guarantees are backed solely by the claims-paying ability of the issuing insurance company. Features, rates and availability vary by state and change over time; the contract and disclosure documents govern.
