Annuity

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

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

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

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

Annuity Advantages

An annuity is a contract between you and an insurance company, whereby you give the insurer your premium dollars, and in return the insurer guarantees you certain benefits. While annuities are not life insurance policies, they are typically issued by life insurance companies and are considered insurance products. All annuities offer tax advantages, but they are all unique depending on the type of annuity product purchased. Here’s a look at 9 distinct advantages available via the plethora... Read More

Annuity Sales Continue to Break Records

The Secure Retirement Institute Fourth Quarter U.S. Annuity Sales Survey was recently released showing the best annuity sales in over a decade. According to a recent InsuranceNewsNet article, annuity sales in 2019 topped $241.7 billion, increasing 3% over 2018. Despite the overall sales being the best since 2008, annuity sales in the fourth-quarter actually dropped 8% when compared with the same time period in 2018.“Fixed annuity sales have driven the overall growth for the annuity... 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

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