Wichita National Life Insurance

What Wichita National Life Insurance does

Wichita National Life Insurance Company is a privately held, Ohio-domiciled life insurance carrier founded in 1957 and rebuilt in the 2020s as a modern annuity platform. The company underwrites and distributes single-premium Multi-Year Guaranteed Annuities (MYGAs) under the Security brand, offered in 3, 5, 7, and 10-year terms with a single premium range of $10,000 to $1,000,000 and guaranteed interest rates locked for the full selected term. Two optional riders — a 10% Free Withdrawal Rider (0.15% annual charge) and an Enhanced Death Benefit Rider — complement the core products, and the company also references term life insurance and credit protection in its stated offerings.

The entire technology stack — policy administration, application processing, underwriting workflow, and contract issuance — is proprietary and built in-house with no outsourcing or third-party dependencies. This infrastructure underpins the company's stated service benchmarks of 60-minute application review and same-day contract issuance. The firm holds a B+ (Good) AM Best financial strength rating, reports a 729% Risk-Based Capital ratio, and allocates 94% of assets to NAIC 1-2 rated investments, indicating a conservative balance sheet.

WNLIC generates revenue primarily from single-premium fixed annuity deposits, with secondary recurring revenue from optional rider fees. Distribution is indirect through financial professionals and agents across 25 licensed US states, supported by a dedicated agent portal, a customer policyholder portal, an in-house distribution team, and an interactive MYGA calculator for prospect planning. Target customers are retirees and pre-retirees seeking principal-protected, tax-deferred guaranteed returns, alongside financial professionals seeking a reliable, fast-servicing carrier.

Name

Wichita National Life Insurance

Legal name

Wichita National Life Insurance Company

Website

https://wnlic.com

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

11–50 employees

Short description

Wichita National Life Insurance is a privately held, Ohio-domiciled life carrier that underwrites and distributes single-premium Multi-Year Guaranteed Annuities (Security 3, 5, 7, and 10-year) to retirees and pre-retirees through financial professionals in 25 US states, on a proprietary in-house technology platform.

Ownership category

akta.pro rank

Product category

Fixed Annuities

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Multi-Year Guaranteed Annuities (MYGA) (FSAIACAK)

akta.pro secondary industries

Fixed Annuities (FSAIACAA), Annuity Riders & Guarantees (GLWB/GMWB/GMIB/Death Benefits) (FSAIACAL), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH), Annuities & Investment-Linked Insurance Solutions (Retail) (FSAAAAAM)

Keywords

• Multi-year guaranteed annuities
• Fixed annuity products
• Retirement savings products
• Life insurance carrier
• Deferred fixed annuities

Headquarters

HQ city

Lawton

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Fixed Annuity Premiums: Single premium multi-year guaranteed annuities (MYGAs) with guaranteed interest rates for 3, 5, 7, or 10-year terms. Revenue generated from premium payments on deferred fixed annuity contracts.
2. Optional Rider Fees: Annual rider fees including 10% Free Withdrawal Rider at 0.15% annually, charged by reducing guaranteed interest rate. Enhanced Death Benefit Rider available.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Wichita National Life Insurance underwrites and sells single-premium Multi-Year Guaranteed Annuities (MYGAs) under the Security brand (Security 3, 5, 7, and 10-year terms), with premium range of $10,000 to $1,000,000 per contract. The annuities offer guaranteed interest rates locked for the full selected term with tax-deferred compounded growth, principal protection from market risk, optional riders (10% Free Withdrawal, Enhanced Death Benefit), and support 1035 exchanges. Distribution is channel-led through financial professionals and agents across 25 US states.

Product overview

Wichita National Life Insurance offers a unified portfolio of four Multi-Year Guaranteed Annuity (MYGA) products under the Security brand: Security 3, Security 5, Security 7, and Security 10. These are single premium deferred fixed annuities that provide guaranteed interest rates for 3, 5, 7, and 10-year terms respectively. The core offering is complemented by two optional riders—the 10% Free Withdrawal Rider and the Enhanced Death Benefit Rider—and supported by an online MYGA Calculator for prospect planning. All products share a common structure: one single premium payment ($10,000–$1,000,000), tax-deferred compounded growth at locked rates, and principal protection from market risk.

Differentiator

Problem solved

Functional benefit

Brands

• Security MYGA: Multi-Year Guaranteed Annuity product line including Security 3, Security 5, Security 7, and Security 10 with guaranteed interest rates for 3, 5, 7, and 10-year terms respectively.

Products and services

• Security 3 MYGA A single premium deferred fixed annuity that locks in a guaranteed interest rate for a 3-year term, designed for shorter accumulation windows or near-term retirement planning. Premium range $10,000–$1,000,000 with compounded growth at the guaranteed rate.
• Security 5 MYGA A single premium deferred fixed annuity that locks in a guaranteed interest rate for a 5-year term, marketed as the company's most competitive offering with five years of guaranteed growth. Premium range $10,000–$1,000,000.
• Security 7 MYGA A single premium deferred fixed annuity that locks in a guaranteed interest rate for a 7-year term, offering a longer commitment with strong guaranteed performance. Premium range $10,000–$1,000,000.
• Security 10 MYGA A single premium deferred fixed annuity that locks in a guaranteed interest rate for a 10-year term, providing maximum accumulation runway for clients with longer time horizons. Premium range $10,000–$1,000,000.

Quantifiable outcome

• Same-day contract issuance after application approval and funding
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Athene Holding: Athene is one of the largest issuers of MYGAs and other fixed annuities in the US, distributing through financial professionals. Highly comparable as a direct competitor targeting the same retiree demographic with single-premium deferred fixed annuity products.
• Western & Southern Financial Group: Western & Southern's life insurance subsidiaries offer fixed annuities and MYGAs through financial professionals. Direct peer in fixed annuity underwriting and advisor distribution.
• Security Benefit: Security Benefit underwrites fixed and fixed-indexed annuities distributed through financial advisors. Direct competitor with overlapping fixed-annuity products and similar advisor-led distribution.
• Global Atlantic Financial Group: Global Atlantic issues fixed and fixed-indexed annuities including MYGAs via advisor channels. Direct competitor with overlapping product structure and financial professional go-to-market.
• Sammons Financial Group (North American Company): Sammons Financial, through North American Company for Life and Health, underwrites MYGA products distributed by financial professionals. Direct competitor in the MYGA product category with similar advisor distribution model.
• National Western Life Insurance Group: National Western Life is a specialist life insurer offering annuity products including MYGAs through independent agents. Comparable niche/mid-sized life and annuity carrier with similar distribution approach.
• Corebridge Financial: Corebridge is a major fixed and fixed-indexed annuity carrier with strong MYGA offerings distributed through advisors. Comparable as a direct peer in the retail fixed annuity market with similar advisor-led distribution.
• Fidelity & Guaranty Life (F&G): F&G is a specialty insurer focused on fixed indexed annuities, MYGAs, and life insurance sold through independent agents. Direct peer with overlapping MYGA product set and B2B distribution through financial professionals.

Broad incumbents

• Massachusetts Mutual Life Insurance (MassMutual): MassMutual is a leading mutual life insurer offering annuities, life insurance, and wealth solutions through financial professionals. Comparable broad incumbent with overlapping fixed annuity and life insurance offerings.
• New York Life Insurance Company: New York Life is a large mutual life insurer that offers fixed and fixed-indexed annuities alongside life insurance through a broad career and advisor distribution system. Comparable as a broader incumbent in life and annuity products, though larger and more diversified.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/wichita-national-life-insurance-company

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Wichita National Life Insurance