Annuities

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

The Profile of an Annuity Buyer

During the month of September, the Insured Retirement Institute is hosting 4 virtual sessions, the Supply Chain Summit, to examine the current industry climate with a focus on how to develop and market products during these unique times. Market fluctuations, economic turmoil and the COVID-19 pandemic are all influencing the messages being sent to consumers. The panel that met on September 9, 2020 agreed that these factors are also creating opportunities. “There are some clear profiles... Read More

Symetra Introduces Two New Indexed Annuities

There are two new single-premium indexed annuity contracts available, both coming from the U.S. arm of Sumitomo Life Insurance Company of Osaka, Symetra. Symetra Stride and Symetra Edge Elite are both filed as non-variable annuities featuring crediting rate options linked to the performance of Putnam Investments’ new Putnam Dynamic Low Volatility Excess Return Index, according to a recent article from ThinkAdvisor.Several annuity issuers have limited their annuity offerings with account... Read More

New Non-Variable Indexed Annuity from Nationwide

Ohio-based insurer, Nationwide, has recently launched a new, non-variable indexed annuity in an effort to give consumers more of what they’re asking for: control. Nationwide’s Defined Protection Annuity (DPA) contract gives clients the ability to decide how much protection the insurer provides against market losses, an occurrence many of us are far too familiar with these days. This type of non-variable indexed annuity comes with a protection promise against any loss of account value... Read More

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

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