By Kerry Pechter
Sales of income annuities may soon breach the $10 billion-a-year barrier. We talked to the Numbers 2 through 5 SPIA sellers in the U.S.: MetLife, MassMutual, Pacific Life (whose symbol is the humpback whale), and Nationwide.
By Kerry Pechter
By establishing a standard for valuing in-force income annuities, an industry task force hopes to reduce fear of "annuicide" and stimulate SPIA sales. "We're taking a thorn out of the lion's paw," says Gary Baker of Cannex. (Links to pdfs of task force documents included.)
By Kerry Pechter
New York Life launched its Guaranteed Future Income Annuity, a deferred income product, in mid-2011 and has found traction among pre-retirees who want income about 10 years later. We spoke about it with Matthew Grove, vice president of Guaranteed Lifetime Income at the mutual insurer.
By Kerry Pechter
Kelli Hueler, creator of the Income Solutions online income annuity sales platform, delivered an academic paper at the Pension Research Council's annual conference at the Wharton School last week, and provided insight into her "out of plan" income option for rollovers from 401(k) plans.
