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Voya’s Lifetime Income Strategy for 401k Plans Offers A GLWB

Voya Financial is one of the newest companies to introduce a 401k annuity product.  In "Voya jumps into 401(k) annuity game," Marlene Y. Satter of Benefits Pro introduced the company's Lifetime Income Strategy.  Voya's Retirement Solutions business says that their new product is a retirement income option for workers at large companies who have money in a 401k plan.  They call it an age-based asset allocation program.  The purpose of Voya's Lifetime Income Strategy plan is for workers to... Read More

AIG Introduces New QLAC for Retirement Plans

The first longevity annuity created specifically to meet the new QLAC federal regulations has been introduced by AIG.  The company's American General Life Insurance Company created the American Pathway Deferred Income Annuity to be eligible as a qualifying QLAC in traditional IRA's.  This information comes from LifeHealthPro's "AIG jumps in with longevity annuity for IRAs," by Marlene Y. Satter.  The IRS changed the requirements for using these annuities in 401k and other retirement plans on... Read More

Large Insurers Introduce New Variable Annuity Products

Despite the negative attention that the variable annuity industry has gotten lately, many insurers are still introducing new products.  American General just released their newest variable annuity, the Polaris Select Investor.  Variable annuities still dominate overall annuity sales and offer benefits to consumers that are unmatched elsewhere.  In Insurance News Net's article, "American General Launches New Variable Annuity," Cyril Tuohy talks about what the new annuity product has to offer... Read More

New Indexed Annuity Benefits From AIG

In a Wall Street Journal press release, AIG announced some big improvements to their indexed annuities.  "AIG Enhances Its Suite of Index Annuities to Offer Guaranteed Rising Income with Principal Protection" says that AIG made these changes to help their clients accumulate their assets and distribute their income.  AIG's indexed annuities are issued through American General Life Insurance Company.  Their indexed annuity products have three goals for their clients: guaranteed income that... Read More

Longevity Annuity Recommendations

Longevity annuities come in two different types and help to insure that you will not run out of money in retirement.  They are essentially the opposite of life insurance, which leaves money behind in the case of an early death.  Deferred income annuities and fixed indexed annuities with lifetime income riders are two ways to guarantee a stream of income that you cannot outlive.  Annuity FYI recently put together a list of their recommended longevity annuities.  The difference between a... Read More

Six Recommended Deferred Income Annuities

UPDATED 8/31/2013 Deferred income annuities have been selling in record numbers this year.  Bank Investment Consultant's Margarida Correia tells us why in "Deferred Income Annuities Gain Traction, Following Rebirth."  The products were called advanced life deferred annuities when first introduced, but did not take off in the marketplace.  After a few changes recently, an IRI report predicts that DIAs will be have the fastest growth in sales of any annuity product.  Old products had... Read More

New York Life Sells $1B of Deferred Income Annuities

The Wall Street Journal's MarketWatch recently published an article by Anne Tergesen stating that "More boomers (are) buying 'longevity' annuities."  While immediate annuities are still a popular choice for retirees, some younger Baby Boomers are purchasing deferred annuities as early as their 50's, even though they won't start receiving payments for another decade or so.  Last year the government made it easier for 401k plans to offer annuities because they believe that annuities are a good... Read More

Who Is Selling the Most Indexed Annuities?

The second quarter numbers are in and Sheryl J. Moore has compiled a list of the best in the indexed industry.  According to Insurance Networking News' Carrie Burns, the "Top 10 Q2 Indexed Annuity and Life Insurance Carriers" have been released in a new report.  Annuity Specs' 60th "Indexed Sales & Market Report" accounts for the production of 99% of all of these indexed products.  Moore, the author of the report, is the CEO and President of Moore Market Intelligence.  Indexed annuity... Read More

Index Annuity Reissued by AGLC

American General Life Companies has brought back their Horizon Index Annuity, as stated in the company's press release.  At the beginning of June it was reintroduced with higher premium bonuses and increased marketing for what AGLC believes is a crucial feature.  The overall benefits of an index annuity are that an investor has the potential to gain money based on the stock and bond market performance without losing their principal and they can take advantage of tax-deferred growth.  This... Read More

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