Pacific Life issues qualified longevity annuity
The insurer's press release positions the product mainly as a way for advisors to help their clients reduce annual taxes during retirement, instead of as insurance against running out...
Annuities
Hueler’s Income Solutions now offers QLACs
Vanguard, Alliance Benefit Group, Beneplace and several large plan sponsors offer the Hueler platform to their plan participants.
AIG, BofA Merrill Lynch collaborate on index annuity option
Through a daily “non-discretionary process eliminates the impact that emotions may have on allocation decisions,” AIG said in a release, the contract moves money into cash when short-term...
Surge of fixed indexed annuity sales at independent broker-dealers in 2014
Industry-wide annuity sales reached $229.4 billion in 2014, a 3.8% increase from $220.9 billion in 2013 and an 8.2% increase from $212 billion in 2012.
Voya enters the structured variable annuity game
The product resembles other structured variable annuities in the marketplace, issued by MetLife, AXA, CUNA Mutual and Allianz Life. These products offer more upside potential than fixed indexed annuities...
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.
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.
