Suitability Standards for Annuities

One of the biggest concerns that people have with annuities is the problem of unethical advisors selling investors products that aren't right for them.  The National Association of Insurance Commissioners (NAIC) approved regulations last year to protect investors from such practices.  The Suitability in Annuity Transactions Model Regulations prevent advisors from selling senior citizens annuities that are not suitable for them.  When the model was approved, the NAIC's goal was for every... Read More

New Annuity Rider From Transamerica

The Retirement Income Max rider is now available for purchase with Transamerica's variable annuities.  According to Insurance News Net's "Transamerica Broadens Suite of Retirement Income Solutions with Retirement Income Max," the rider is meant to help investors make the most of their retirement.  This living benefit rider will cost more for annuity investors, but should help maximize their retirement income.  Transamerica Capital's Chief Sales Officer says that the rider looks to meet the... Read More

Use An Indexed Annuity for Retirement Planning

Retirement planning is kind of like working out, something we know we should do but too often put off or ignore.  Compare annuities, 401k plans, Social Security payouts, and IRAs to plan for your retirement before you find yourself in a bind.  Most Americans are concerned about short and mid-term spending and place long-term savings concerns far away, according to "A Crash Course in Basic Retirement Planning" by Jim Blankenship of The Street.  Two-thirds of people recently surveyed who had... Read More

Tax Benefit of Annuities

Some tips for reducing your taxes were recently posted in the RIS Media article "7 Year-End Tax Planning Tips."  The informative tips come from Ken Rubinstein of New York law firm Rubinstein & Rubinstein.  Gifting money to children or others is the best way to reduce your taxable estate, if that is something you are looking to do.  You can gift up to $13,000 per person and a husband and wife can even give gifts to the same people to help reduce their estate.  Of course everyone isn't in... Read More

Four Companies Rule Variable Annuities

Prudential Financial Inc., MetLife Inc., Jackson National Life, and TIAA-CREF were the top four sellers of variable annuities through the first three quarters of this year, according to The Wall Street Journal.  "Variable Annuities' Giants Grow," by Leslie Scism and Erik Holm, points out that the four top sellers accounted for nearly half of all variable annuity sales.  With 48% of the market share occupied by these four insurers according to LIMRA International, there was a significant... Read More

Young Workers Look to 401k Annuities

According to U.S. News & World Report's "Older Workers Losing Faith in 401(k)s," Emily Brandon says that workers over 50 are worried that their 401k plans will not take them as far as they hoped when starting their careers.  While they only plan on their 401k plans covering 26% of their retirement income, young workers expect their 401k's to finance 39% of their retirement.  Whether they use 401k annuities or other investments after retirement will depend on how the rest of their careers... Read More

Compare Annuities Linked to LTC Insurance

While a new law went into effect this year allowing for great tax benefits for linking your annuity to long term care insurance, there is only one available product in the state of Ohio currently.  J. Brendan Ryan of Cincinnati.com wrote about the new benefit in his article "Linking long-term care insurance to annuities" this week.  Tax benefits when you compare annuities used to pay for long term care insurance and those which do not are great.  When you begin receiving payments on a... Read More

Immediate Annuities Stretch Retirement

CBS Moneywatch's Steve Vernon highlights the importance of using immediate annuities along with 401k's and IRA's in retirement.  His article, "IRAs and 401ks: Maximize Retirement Income with Immediate Annuties," recommends using immediate annuities in retirement planning especially for those who don't have significant or any pension plan.  An immediate fixed annuity will give you payments similar to receiving a paycheck for the rest of your life.  The two main risks that you'll be protected... Read More

Compare Annuities & Equity Linked CDs

Whether a deferred fixed annuity or a CD is better for your savings plan depends on a number of individual factors.  You can compare annuities and bank CDs regarding the safety of your principal, the length of term you are looking for, your distribution options, and tax benefits.  Both products are lower-risk than many other options, yet differ from one another significantly.  Your financial priorities and goals will help determine if a deferred fixed annuity or CD is best for... Read More

Top Selling Variable Annuities

The list of the top variable annuities sold in bank channels this year was just compiled.  The Bank Investment Consultant article "The Most Wanted List (of Variable Annuities," by Kerry Pechter, talks about the most popular variable annuities of the year thus far.  It's well known among financial consultants and advisors that variable annuities do not sell themselves; the benefits need to be sold to investors.  The benefits of protection from a down market and potential for upside market... Read More

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