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Unhappy With Your Annuity? Consider a 1035 Exchange

When you use money from an existing annuity to buy another one,  the process is often referred to as an annuity exchange. While this action is not extremely complicated or rare, just like any aspect of financial planning, there is important information you should be aware of before doing it. Here’s a look at some of the key factors to consider when debating an annuity exchange, according to the financial experts at Forbes.  If the funds that you use to purchase the annuity are... Read More

Annuity News: Year in Review

Annuities were a hot topic in financial news this year. According to a recent InsuranceNewsNet article both lawsuits and regulation were the most-read annuity stories, but annuity sales, rankings and other topics drew attention too. Here’s a look at the top-viewed annuity news from 2019. AIG Retakes Top Spot in LIMRA 2018 Annuity Sales Rankings The January 2019 story revealed that for the first time in over a decade, AIG Companies were the top seller of annuities. The top five... Read More

Annuity Sales Rules To Be Adopted By Year’s End

As most people nurse their holiday hangover and gear up for the upcoming New Year’s celebration, state insurance regulators are hard at work officially adopting a strengthened annuity sales model law. According to a recent article from InsuranceNewsNet, the Life Insurance and Annuities Committee will hold a conference call to adopt recent revisions of the model law on December 30.  If all goes according to plan and the committee formally adopts the revamped model, it will then go to... Read More

Vantis Life Launches New Annuity Line-up

Vantis Life Insurance Company, the leading direct-to-consumer life insurance provider, just announced the launch of a new series of annuity products that are available for online direct purchase.  According to a recent article from InuranceNewsNet, the two products are: TaxSaver Freedom® ROP - This is a fixed interest rate annuity complete with a safety of return of premium (ROP)  guarantee feature. Customers will enjoy access to their deposits at any time without a... Read More

Great American Life and Barnabas Capital Team to Offer New Annuity Products

Great American Life has teamed up with Barnabas Capital to offer 2 new variable annuity products. Index Frontier® and Index Summit 6sm variable-indexed annuities were created for investors who are not satisfied with low fixed-income yields and want more protection than that provided by equities. According to a recent Yahoo!Finance article, these products offer competitive earning potential and partial protection from market loss, which makes them attractive in a volatile market. When... Read More

Leading Annuity Provider Updates Products

According to a recent press release, leading financial services company, AXA Equitable Life has just released an enhanced version of Retirement Cornerstone®, its multi-stage variable annuity. Updates to its market-leading structured annuity, Structured Capital Strategies®, were also announced. Both were developed to help clients build wealth and create protected lifetime income, all while mitigating risk and keeping pace with inflation.  “With these new enhancements we are providing a... Read More

Jackson National Launches New MYGA

Wink’s Sales and Market Report for the first quarter of 2019 shows that the sales of multi-year guaranteed annuities (MYGAs) have grown almost 80% in the last year, and Jackson National Life Insurance Company is jumping on board. The launch of Jackson RateProtector, a single premium MYGA was announced yesterday, offering consumers the opportunity to protect and grow their assets through guaranteed interest rates that will not fluctuate during a selected time period. The press release also... Read More

1st Quarter Annuity Sales Released

First quarter 2019 annuity sales figures were recently released with fixed and variable annuity sales hitting $57.8 billion combined. According to an InsuranceNewsNet article, this is a 3.6% drop when compared to the fourth quarter of 2018, but still a whopping 17.5% above levels from a year ago. Fixed annuity sales reached $37 billion in the first quarter, only a slight decrease from the fourth-quarter 2018 sales of $37.1 billion. The small drop pales in comparison to the year-to-year... Read More

SEC’s New Best Interest Standard Met With Mixed Reviews

Earlier this week, the U.S. Securities and Exchange Commission approved the SEC’s Regulation Best Interest: The Broker-Dealer Standard of Conduct (Regulation BI). The SEC started working on the Reg BI project after the U.S. Department of Labor started experiencing difficulties in implementing its own fiduciary rule regulations, according to a recent article from ThinkAdvisor. The new regulation is set to have a compliance date of June 30, 2020. The new standard will require broker-dealers... Read More

Great American Life Launches Unique New Annuity Product

A recent collaboration between Great American Life and Raymond James has produced a new type of variable-indexed annuity. The Index Summit 6℠ is the first of its kind, offering crediting strategies with both upside and downside participation rates. According to a recent InsuranceNewsNet article, the breakthrough product will only be offered through financial institutions, banks and independent broker dealers. Currently, the crediting strategies feature a 50% downside participation rate... Read More

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