Cannex, the Toronto-based annuity product data, just announced a new tool, based on research by annuity guru Moshe Milvesky, that enables advisors to do side-by-side comparisons of annuity contracts. The first phase allows comparisons of variable annuity living benefits.
'Never before have so many promises been made for the future, both for unsustainable rates of spending growth and lower taxes,' writes our guest columnist, a former deputy assistant secretary of the Treasury. 'Engaging in more giveaways only exacerbates this problem.'
Does automatic enrollment lead to higher consumer debt? Should employers stop sponsoring retirement plans? These are other ideas were floated at the Defined Contribution Institutional Investors Association Academic Forum in New York yesterday.
Securian's new SecureLink Future fixed indexed annuity offers a lifetime income benefit with an 8% annual rollup in each year with no withdrawals (or 200% after 10 years with no withdrawals). The company also introduced a variable annuity for fee-based advisors.