A few years ago, MassMutual mothballed Jerry Golden’s SPIA tool for advisors. Now, post-crisis, the company has re-embraced SPIAs, and sales are up.
Here's an income plan for a hypothetical 65-year-old couple with $1.6 million in savings, a real income goal of $8,000/mo. in retirement, and a legacy goal of $1.5 million.
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 president of Prudential Annuities since 2017, actuary Kent Sluyter spoke with RIJ recently about financial wellness and about his firm's pivot to a new generation of individual annuities.
Leading up to the May 1 deadline for contract changes, issuers continued to tinker with every aspect of their contracts--to reduce overall risk and to align their compensation formulas with advisor preferences.
Curtis Cloke, an Iowa-based financial advisor and deferred income annuity specialist, responds to last week's lead story, "Channel Surfing for Low-Cost SPIAs."
The Social Security and Disability Insurance trust funds may be a figment of accounting, but the funds' trustees continue to calculate the changes in payroll tax rates and/or benefit levels that would keep the funds solvent until the last surviving Boomer reaches age 121.
The growth of emerging-market firms in global investment and finance will bring "the sort of multilateral framework for regulating cross-border investment that has been derailed several times since the 1920s," the bank's report said.
Separately, the Boston-based firm reported that the average 401(k) balance rose to $74,900 at the end of 1Q 2011, an all-time high since Fidelity began tracking balances in 1998.
Brief or late-breaking news from New York Life, Bankers Life and Casualty, F-Squared Investments, AnnuitySpecs and National Planning Holdings.
If Jackson National de-risks its variable annuity offerings, it would merely be following the example of competitors like Prudential and MetLife. Jackson's parent also has to consider Solvency II.