Income annuities aren't a good product fit for every insurance company. But for New York Life, a mutual company with tons of reserves and a big book of life insurance, they make perfect sense.
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.
In her new book, 'The Deficit Myth,' Stephanie Kelton explains Modern Monetary Theory--and how we can afford a lot more as a nation than we think we can.
The deal, part of a trend in private-equity acquisitions of life/annuity properties that began a decade ago, makes KKR about one-third larger. The trend tailwind: low rates.
By re-valuing each client's annuity contract each day, New York Life enables advisors to charge a fee based on the (shrinking) cost of replacing the income stream.
Starting with today’s issue, we’ll devote four weeks of cover stories and features to single premium immediate annuities. Millions of mass=affluent Americans will need them.
Prudential has created a cost structure for its top-selling VA that satisfies the broker's client-focus. At left, Merry Mosbacher of Edward Jones.
In 2010, MetLife sold about $18.3 billion worth of variable annuities, of which about two-thirds have the GMIB option.
Divestitures should drive a significant portion of deal activity in 2011, PwC said. Large banks and insurance companies that need to bolster capital levels are divesting non-core operations and margin-dilutive subsidiaries.
The insurer has also added to the team supporting the product, led by Corey Walther, Head of Investment Relations and Fee-Based Distribution for Allianz Life Financial Services, LLC.
Brief or late-breaking items from DST Systems, Senior Market Sales, Conning Research, BNY Mellon, Mutual of Omaha, Mesirow Financial, ASPPA, Lockton Retirement Services, Huntington Investment Co., Allianz Global Investors and Putnam.