Annuities

Long-term Care and the COVID-19 Crisis

As the COVID-19 pandemic continues to surge around the county, many Americans are looking into long-term care options and are shocked at what they’re finding. Many years ago, the underwriting criteria for long-term care was changed by the insurance industry leading to a significant increase in cost for those who were likely to need it. To make matters worse, increased longevity, higher health care costs and low interest rates made many LTC products too expensive to provide, and several... Read More

Product Alert: Harbourview MYGA 3

Act Fast: The Harbourview 3-Year Fixed Annuity is Dropping from 3% to 2.5% on 7/28.If you’re interested in a short-term fixed annuity in these economically trying times - one that probably pays out the most you can get in a world of rock-bottom interest rates - you’re highly unlikely to beat the Harbourview MYGA 3, sponsored by Colorado-based Oceanview Life and Annuity Co. For as little as $10,000, you get a three-year MYGA (multi-year guaranteed annuity) that pays 3% compared to 2.2%... Read More

Annuity Talk Increases Amid Global Pandemic

A new survey conducted in the midst of the COVID-19 global pandemic discovered that more than half of financial professionals are concerned that at least 25% of their clients are at risk of running out of money during retirement. According to a recent press release, the study was released by Jackson National Life Insurance Company and the Insured Retirement Institute (IRI). The data was collected between April 8-17, 2020 in the form of an online survey. Less than 5% of participants reported... Read More

Considering a Fixed-Rate Annuity? Check This Out First

One of the most popular annuity products is the fixed-rate, or multi-year guaranteed annuity. This relatively simple product offers guaranteed income and higher rates than most competing products, making it a good choice for many. But with so many annuities available today, it’s critical to do a little research and learn which one is best for you and your unique needs. Here’s a deeper look at fixed-rate annuities, including several questions to ask before committing, as detailed in a recent... Read More

New Fixed Index Annuity Balances Growth and Protection

One of the many goals of most retirement planners is learning how to balance growth potential with principal protection when markets get volatile. In an effort to address this concern, Midland Retirement Distributors, a distribution business of Sammons Institutional Group, has launched a new fixed index annuity. According to a recent press release, Summit Navigate was designed for consumers who are close to retirement, layering two interest-crediting strategies to help calm nerves in this... Read More

1st Quarter Registered Index-Linked Annuity Sales Soar

First quarter annuity sales numbers are in, and registered index-linked annuities (RILA) were the big winners. When compared to the previous year’s results, RILA sales jumped 38%  to $4.9 billion, according to the final numbers released by the Secure Retirement Institute U.S. Individual Annuity Sales Survey.“Current market conditions favor RILA products more than fixed indexed annuities (FIA) as the increase in market volatility will help support crediting rates in RILAs,” said... Read More

Study: Annuity Education Promotes Positivity

A recent study from the Secure Retirement Institute has shown that consumers who are more educated about annuity products seem to have stronger feelings about them. In fact, according to a recent ThinkAdvisor article, the increased knowledge leads to more positive views.Study participants took an annuity knowledge quiz and answered a series of questions about whether they had positive or negative views about annuities. Less than half of the participants with scores of 0 to 3 on a 10-point... Read More

New Variable Annuity from Transamerica

Last week Transamerica, a leading provider of life insurance, retirement and investment solutions, announced the launch of the Transamerica Advisory Annuity, a new low-cost variable annuity. The innovative product offers investors the following benefits, according to a recent article from Herald-Mail Media:Lower cost - average annual fees are more than 70% lower than recent industry averages by Morningstar, Inc. as of December 2018 Choice of death benefits - policy value or return of... Read More

New Study: 4% Rule Is Out, Annuities Are In

The so-called 4% rule has been the standard advice given from financial professionals for several decades now. This method recommends clients withdraw 4% of their assets each year in order to provide income while maintaining enough principal to last throughout retirement. While the concept of the rule was appropriate for the time it was created, it isn’t as applicable in today’s environment. When the 4% rule was created, interest rates were much higher, capital markets were less... Read More

Legacy Launches New Fixed Index Annuity

Legacy Marketing Group has just launched a new fixed index annuity issued by Ameritas Life Insurance Corp, an “A” rated provider. IncomeMark Select was designed to provide performance-driven income and is best paired with the MyGrowth Income Rider Guaranteed Lifetime Withdrawal Benefit (GLWB). Together the products ease the fears of soon-to-be retirees who are concerned about outliving their money, rising expenses and paying for healthcare.“With the performance-driven MyGrowth Income... Read More

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