Equitable enhances its flagship buffered annuity, or RILA
Available on Nov. 23, the eight new options add to the Dual Direction feature on Equitable's Structured Capital Strategies Plus buffered annuity.
Annuities
‘Survival pessimism’ dulls the appetite for annuities
Those in their early 60s underestimate the chance of survival to 75 by more than 25 percentage points, on average, and those in their early 70s underestimate survival to...
Biden’s Retirement Policy
Biden has made strong promises about fixing Social Security, strengthening labor unions, and helping to finance a green economy. Will he be able to keep those promises? Does he...
Annuity sales survive COVID-19, but trail 2019: LIMRA SRI
The bright spot continues to be registered index-linked annuities, or RILAs. Third-quarter RILA sales jumped to $6.4 billion, or 33% over 2Q2020. Year-to-date, RILA sales were $15.8 billion, up 26%...
AIG brings FIA (with income rider) to market in New York
AIG annuity product developers had to comply with New York requirements: No explicit fee for the income rider and no notional 'benefit base' for use in calculating annual payouts,...
Drama in Des Moines
Rejecting a takeover bid by Athene and MassMutual, fixed index annuity issuer American Equity will partner with Brookfield Asset Management. The deal releases up to $350m in capital for...
Another asset manager enters the ‘Bermuda Triangle’ fixed annuity business
'Aspida’s three-pronged strategy includes executing new reinsurance contracts, pursuing opportunistic acquisitions of insurance companies and issuing new annuity and life insurance products,' an Ares Asset Management release said.
Honorable Mention
AllianzIM adds two new 'buffered ETFs'; ESG funds, now a political football, haven’t been intercepted; FIDx and Halo partner on annuity/structured product service for advisors; Schwab-TD Ameritrade integration to...
Why American Equity’s Share Price Spiked Today
With new management and a new business model, American Equity Investment Life hopes to climb back onto the FIA sales leaderboard. It's using the strategy that RIJ dubbed 'The...
She’s Got Advice for Life Insurers
'Insurers can't remain wedded to product sales, which are becoming commoditized in a future that trends toward financial advice,' says industry veteran Michelle Richter, who just launched Fiduciary Insurance...
Annuity sales hurt by low interest rate policy: Wink Inc.
'MYGA sales increased double-digits, while indexed annuity sales declined by double digits. This is a new trend,' said Sheryl Moore, CEO of Wink Inc., the...
Low interest rates shock sales of most annuities
Of major product lines, only registered index-linked annuities (RILAs) saw growth in 2Q2020. RILA sales were $4.5 billion in the second quarter, up 8% from 2Q2019, according to LIMRA...
Life Insurers’ Bermuda Triangle, Part II
The humble fixed indexed annuity is at the center of the restructuring hurricane that has swept through the life insurance industry in recent years. We bring you the second...
Low rates are ‘key obstacle’ for U.S. life/annuity firms: AM Best
Life insurers have exited, re-priced or de-emphasized their most interest rate-sensitive business lines, including individual and group annuities, the ratings firm said in a new report.
Virus and low-rates cut deep into Q2 annuity sales: LIMRA SRI
'We believe investors will hold off purchasing income annuity products, hoping interest rates rebound over the next 6–12 months,' said Todd Giesing, senior annuity researcher at LIMRA SRI.
The Key to Turning On 401(k) Annuities
Micruity, a tech startup with a 30-year-old CEO, says it has the "middleware" that can integrate 401(k) plans and annuity issuers. Will the retirement industry listen?
Wells Fargo’s New Annuity Wagon
Wells Fargo Asset Management's new target-date series of CITs comes with a built-in, optional retirement income strategy: systematic withdrawals plus an annuity starting at age 85.
Lincoln rolls out in-plan retirement income option
The annual cost of the income option is 0.9% of the 'income base.' At age 65, the payout rate for a married couple would be 4.5% of the income...
Nassau Financial creates Apple app to sell fixed-rate annuities
The contract, “Simple Annuity,” and the app of the same name will support the sale of the annuity by independent, commissioned insurance agents and by Nassau’s own licensed, salaried...
Fresh from Midland National and DPL, AllianzIM
Midland National's new fee-based FIA, only at DPL Financial Partners, has a health-related income multiplier. Allianz Investment Management's structured ETFs have new caps.
