Symetra launches two new fixed indexed annuities
Available in both annuities is the JPMorgan ETF Efficiente 5 Index, which generates returns by utilizing an array of exchange-traded funds and a cash index.
Annuities
New living benefit rider from W&S has 7% (simple) 10-year roll-up
The rider has an aggressive roll-up that’s paid for with a substantial rider charge and the issuer’s right to raise the charge to 2% a year.
Rising sales of “medically underwritten” group annuities reported in UK
Four UK insurers offer medically underwritten group (“bulk”) annuities: Aviva, Just Retirement, Legal & General, and Partnership, with Partnership and Just Retirement doing the majority of business.
Prudential and MassMutual in Deal to De-Risk Kimberly-Clark Pension
“This is not necessarily a bad business to be bidding on, but it’s inherently risky, especially with the low rate environment," said Rob Haines of CreditSights.
A product that ‘no one likes’ sold over $235 billion in 2014
Americans contributed $12.4 billion to immediate or deferred income annuities in 2014, and $48.2 billion to indexed annuities, many of which had income riders, according to LIMRA. VA sales...
Bird? Plane? No, It’s a New MetLife VA Rider
With the new FlexChoice guaranteed lifetime withdrawal rider on its flagship variable annuities, MetLife is betting that it can provide Boomers with a competitive income vehicle that's light on...
Questions & Answers about: Medicaid Annuities
In this ongoing new feature, RIJ will ask and answer questions that pertain to retirement advisors and their clients. Our first Q&A concerns Medicaid annuities, which middle-class Baby Boomer...
U.K. life insurers to suffer as forced annuitization ends
The major life insurers are expected to be profitable, according to Thomson Reuters data, but profits at Aviva, Friends Life and Legal & General are expected to be flat...
Coming next week: a new VA income option from MetLife
News about the new GLWB rider, called FlexChoice, is officially under wraps until next Tuesday.
The Principal adds ‘QLAC’ status to a DIA
Under the new QLAC rules, individuals can use up to 25% of their pre-tax savings (but not more than $125,000) to purchase a DIA whose payout starts after age...
Retirement paychecks are popular; Annuities, not so much
While 49% of respondents would be willing to commit a portion of their savings to a product that would provide them a monthly income, like an annuity, only 34%...
First Investors launches flexible-premium longevity annuity
“Sales of our single pay deferred income annuity, which we introduced last year, have been three or four times what we projected," said Carol Springsteen, president of First Investors...
Security Benefit adds high-dividend stock index to fixed indexed annuity
The Index also aims for a targeted volatility rate of 6%—about half the S&P500’s historical volatility—through actively adjusted cash exposure.
Ruark Publishes Biannual VA Usage Study
Many owners of variable annuities with lifetime income riders are not using their benefits as efficiently as they could, Ruark found. They often draw down too much or too...
Genworth introduces FIA with income rider
The new product, SecureLiving Growth+, includes four crediting methods and a lifetime income option with a 1.10% annual charge.
A VA with a little bit of everything, from Principal
The product has a current M&E fee of 1%. Fund expense ratios range from a low of 0.65% to a high of 2.63%.
Indexed and deferred income annuity sales shine in 3Q2014: LIMRA
Deferred income annuity (DIA) sales reached $670 million in the third quarter, 21% higher than the prior year, according to LIMRA's Secure Retirement Institute. In the first nine months...
MetLife, Fidelity partner on new VA with return-of-premium guarantee
The annual mortality and expense risk charge for the product is 0.70% and the rider fee is 1.15%. The contract owners also pay 0.83% per year for the underlying...
Wink reports on 3Q2014 indexed annuity, indexed life sales
Allianz Life led FIA sales with a market share of 26.80%, followed by American Equity Companies, Security Benefit Life, Great American Insurance Group, and Athene USA. Allianz Life’s Allianz...
AIG Offers First Qualified Longevity Annuity Contract
“ will take a while to get going,” said Stan Haithcock, of Stantheannuityman.com, “but once people realize that it lets them reduce their RMDs, and...
