BBVA Compass is collaborating with Western National Life Insurance Company on a new fixed annuity product, according to Insurance News Net’s “BBVA Compass Announces Strategic Alliance with Western National to Launch Branded Annuity.” The BBVA Compass Asset Annuity has a flexible-premium and is tax deferred. It is only offered through BBVA Compass Insurance Agency, Inc., but is guaranteed by Western National, a leader in the fixed annuities market. This marks the first time that BBVA Compass is both cobranding an annuity and managing some of the assets for the underwriting insurance company.
The Asset Builder Annuity should meet the needs of people nearing retirement that desire smart options for their money. BBVA Compass Wealth Management will manage some of the assets for Western National, so both companies are very motivated to see what they believe is one of the best annuities succeed. Western National is the top provider of fixed annuities through the bank channel and is known as a pioneer for new fixed annuity products sold specifically through banks. Both companies share a commitment to providing their clients with innovative and customized annuity products that help meet their financial goals better.