This Commonwealth Annuity & Health Insurance Company Review explores Southborough, Massachusetts-based Commonwealth Annuity and Life Insurance Company. Commonwealth Annuity and Life Insurance Company is wholly owned by Goldman Sachs Group of New York, New York. Goldman Sachs Group y Compania, S. de R.L. de D.V., Ciudad de Mexico is an investor in the company. Commonwealth Annuity and Life Insurance Company was founded in 2002.
Goldman Sachs Group, Inc. is one of the world’s pre-eminent investment banks, and provides investment management, securities, and other financial services to the firm’s clients. Goldman Sachs serves high net worth individuals, financial institutions, government, and corporate clients. Goldman Sachs maintains offices in Tokyo, Frankfurt, Hong Kong, London, and other key financial center locations around the globe.
Continue reading to learn more about Commonwealth Annuity and Life Insurance Company, including contact information, financial products and services offered, and financial strength ratings.
Commonwealth Annuity & Health Insurance Company Contact Information
Write the company at:
132 Turnpike Road, Suite 210
Southborough, MA 01772-2132
Phone number: 508-460-2422 or 508-460-2400
Commonwealth Annuity & Health Insurance Company Financial Strength
According to A.M. Best, the company is rated “A-” (Strong). Standard & Poor’s also rates the company “A-” (Strong). Moody’s gives Commonwealth Annuity and Life Insurance Company an “A2” rating (Good). Dun & Bradstreet reports that the company generated $345.27M in sales during fiscal year 2010.
Commonwealth Annuity & Health Insurance Company Financial Products
Our research shows that Commonwealth Annuity and Life Insurance does not focus on the sales of health insurance products, although they sell some health insurance to meet customer needs. Health insurance companies pay insurance agents like Commonwealth Annuity and Life Insurance commissions for customer purchases.
According to the National Association of Insurance and Financial Advisors (NAIFA), health insurance companies have reduced the commissions paid to health insurance sales brokers and agents. Health insurance companies say that paying lower commissions to insurance agents drives down the rising costs of health insurance.
Companies like Commonwealth Annuity and Life Insurance sell retirement planning products, such as annuities, and life insurance products. Annuities offer investors in high tax brackets to save money on a tax-deferred basis. Life insurance helps individuals, families, and businesses protect against the detrimental financial impact of death of a family member or key person.
Commonwealth Annuity & Health Insurance Company Insurance Carriers
Commonwealth Annuity and Life Insurance markets and distributes financial services products created by a variety of insurance companies. Clients should discuss their financial requirements at length before purchasing life insurance or annuity contracts. Employees at Commonwealth Annuity and Life Insurance offer clients the opportunity to compare and contrast financial products costs, terms, and liquidity features.
The company offers annuity contracts underwritten by:
- Allmerica Annuity
- Allmerica Premier Choice
- Allmerica Value Generation
- Canada Life
- Commonwealth Annuity Advantage IV
- Commonwealth Annuity Preferred Plus
- Delaware Golden Medallion
- Delaware Medallion
- Directed Advisory Solutions (Fundquest)
- First Union
- Group VEL
- Group Term Life
- High Net Worth Products
- Immediate Advantage Variable Annuity
- John Hancock
- Pioneer Vision
- Pioneer C-Vision
- Scudder Gateway
- Scudder Gateway Elite
- Scudder Gateway Custom
- Scudder Gateway Plus
- Select Life (including non-NY)
- Select Acclaim
- Select Life Plus
- Select Resource & Charter
- Select Reward
- Select Optim
- Select SPL II (non-NY)
- Select SPL II (NY)
- Select Survivorship
- VUL 2001
Commonwealth Annuity and Life Insurance also helps clients purchase traditional insurance products, such as whole life insurance; individual retirement or pension products; and group retirement plans (RIO/RIFA).
Commonwealth Annuity and Life Insurance offers products distributed by Zurich American Protective Life Insurance, including:
- Chase Classic II Fixed Annuity (NY)
- Chase Classic II Fixed Annuity (non-NY)
- Chase Insurance Classic II/Elite
- Chase/PL Insurance Advantage III/Preferred Plus
- Chase/PL Insurance Variable Annuity
- Group Saver Annuity
- Flexible Premium Deferred Annuity
- JP Morgan Fixed Annuity (Pennsylvania and Massachusetts)
- Zurich Advantage I
- Zurich Advantage III
- Zurich Classic Fixed Annuity (I & II)
- Zurich Elite
- Zurich Mid-Load
- Zurich Preferred and Preferred Plus
- Zurich Wholesale Fixed Annuity
- Zurich Passport products
The company also distributes annuity and financial products offered by Fidelity, including 401(k) annuity, group annuity, immediate annuities, and qualified pension annuities.
Finally, the company distributes some products and services offered by Transamerica Life Insurance Company, including traditional Transamerica whole life insurance policies.
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