According to Investment News’ Darla Mercado, financial advisors are more loyal to Jackson National Life Insurance Co.’s variable annuity products than to any other company. In the article, “Advisers most loyal to this VA provider,” we learn that Jackson National had the best variable annuity reviews followed by Prudential Financial Inc. Jackson moved up from second place last year to throw Prudential out of the top spot this year.
Cogent Research performed the study of over 1,500 financial advisors. They were asked what percentage of their business was dedicated to variable annuities and they rated their happiness with certain variable annuity factors.
Jackson’s internal wholesaler support had such a high ranking that it helped them grab the top spot. Prudential had the highest variable annuity reviews for different product features, even though they didn’t get the top spot overall. Advisors liked their guarantees, especially the Highest Daily feature. Jackson does have nearly 100 subaccount choices as well, which still helped them reach number one.
The ChoicePlus variable annuity from Lincoln National kept them in third place this year. Ameriprise Financial maintained their fourth place spot year to year. Nationwide took the fifth spot from Ohio National, who came in seventh. MetLife was in sixth place this year as well as last. Sun Life, Allianz Life, and Transamerica finish the top ten for variable annuities.
Written by Rachel Summit