AnnuityFYI Annuity Blog

Stay on top of the latest news & trends affecting the annuity industry. The AnnuityFYI annuity blog is regularly updated with original articles covering products, insurance company news and financial expert’s commentary. Whether you are an annuity owner or financial professional, Annuity FYI’s blog will keep you informed.

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American Equity Updates Fixed Index Annuity Line-up

The AssetShield fixed index annuity, American Equity Investment Life Insurance Company’s headlining accumulation product, is about to get a facelift. According to a recent press release, the leading underwriter of fixed index annuities plans to offer more multi-asset index options as well as an option to purchase a higher rate on crediting strategies for additional growth potential. The 5, 7, and 10-year annuity product line aims to give clients a guaranteed income with safe asset growth... Read More

MassMutual Acquires Great American Life

Massachusetts Mutual Life Insurance Co. has doubled down on its retail annuities business with the latest acquisition of a major annuity provider. Last Wednesday, MassMutual announced that they would purchase Cincinnati-based Great American Life Insurance Company for $3.5 billion. Great American, which is owned by American Financial Group, provides fixed and fixed indexed annuities. Over the first three quarters of 2020, the company ranked 13th in fixed annuity sales, at about $2.4... Read More

New Variable Annuities from Charles Schwab

Charles Schwab recently teamed up with Protective Life Insurance Company to launch two new variable annuity products. The Schwab Genesis Variable Annuity will be offered directly to Schwab clients, while the Schwab Genesis Advisory Variable Annuity will be available through independent RIAs. According to a recent ThinkAdvisor article, both products have base annuity fees of 40% to 75% below the industry average.SGVA boasts a total variable account annual expense of 0.45%, excluding optional... Read More

Top Annuity Picks for the New Year

The end of the calendar year is a time when many of us choose to assess the state of our finances and plan for both long and short-term retirement goals.With this in mind, we are excited to share Annuity FYI's Top Picks for the New Year.  We have selected what we consider to be some of the most competitive products on the market heading into 2021.  We've identified Top Picks in the following categories:  Fixed Indexed Growth, Fixed Indexed Income, Variable Growth, and Variable... Read More

Hands Down, Select Annuities Today Are Better Than CDs

Most of the time, folks weighing the purchase of an annuity ask all kinds of questions. Which type of annuity is best for me and why? What maturity best fits my needs? If I want to dabble in the stock market, should I go “all in” with a variable annuity or hedge my risk with a fixed indexed annuity?These days, though, the annuity landscape is markedly different. The majority of people shopping for an annuity overwhelming have just one question: How can I get a half-way decent rate of... Read More

Annuity Sales Trends

If you watch financial news headlines you may have seen recent stories about a slump in annuity sales. However, the downturn, which many attribute to historic low interest rates, hasn’t affected all annuity products. In fact, products designed to protect against market volatility with an opportunity for slight gains in economic turmoil have favored well, according to a recent Financial Planning article. Compared to last year’s numbers, both fixed-rate deferred annuities, such as... Read More

Prudential to Halt Sales of Variable Annuities with GLWB

Prudential Financial has announced that they will no longer sell variable annuities with guaranteed living benefits in response to the uncertain economic climate and historic low interest rates. This includes the company’s Highest Daily Income and Prudential Defined Income annuity products, according to chairman and CEO Charlie Lowrey. “In terms of changing the focus within the business, we’re on a path to de-risking, and have made major pivots to less interest-rate sensitive and... Read More

Nationwide Announces New Annuity Suite

In response to the Setting Every Community Up for Retirement Enhancement (SECURE) Act, annuity heavy weight, Nationwide has announced the launch of a new suite of in-plan annuity products and partnerships with industry leaders. The line, which will be implemented from late 2020 through 2021, will include at least five new solutions.“We know this is not a one-size-fits-all problem, and we’re confident that a suite of solutions will give plan sponsors the flexibility to select the option... Read More

New Annuity Product for New Yorkers

AIG Life & Retirement has just launched Power Index Premier NY Index Annuity with Lifetime Income Builder, according to a recent press release. The new annuity product was developed exclusively for the state of New York and is the only index annuity that gives residents of the state the option of a living benefit rider. Guaranteed living benefit (GLB) riders often provide lifetime income that keeps up with the rising costs of retirement. The Lifetime Income Builder GLB rider provides... Read More

In the News: Annuity Leaders Talk Hot Topics

Recently Keefe, Bruyette & Woods (KBW),  a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector, held a virtual insurance conference to discuss the happenings in the life insurance and annuity markets. The investment bank, which is headquartered in Midtown Manhattan, invited 14 large and publicly traded life insurers to contribute. The following is a summary of some of the key talking points as written by Ryan Krueger, a KBW analyst,... Read More

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