CUNA Mutual Group invades Allianz Life airspace by launching 'Zone Income Annuity.' It's the only structured index annuity besides Allianz Life's Index Advantage Income to offer a lifetime income option. The two contracts differ in small but significant ways.
'The 10-year treasury rate dropped nearly 50 basis points from the start of the second quarter,” said LIMRA's Todd Giesing. 'We anticipate sales of fixed-rate deferred annuities to substantially drop in the third and fourth quarters.”
Here’s another instance--along with coverage ratios, fiduciary duties of advisors, and the decline of pensions--where the British and American retirement industries share certain challenges.
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Sales of traditional fixed annuities were down nearly 10% from the prior quarter but up more than 21% over the second quarter last year, according to Wink's Sales & Market Report.
Members of the network, whose median age is only 39, comprise more than 5% of all state-registered RIAs delivering financial planning services across the country, the organization said.
Most RICP clients delay Social Security benefits; MassMutual boosts support for third-party administrators; DC plan participants ‘stay the course’: ICI