Variable Annuity & Rider Join New Product Line

For those looking for a new option to guarantee lifetime income, Sun Life Financial has both a new variable annuity and a new living benefit rider.  A company press release introduces the variable annuity, Sun Life Solutions, and the living benefit rider, Sun Income Vision.  Sun Life says that these products will help advisors customize retirement plans in a cost effective way.There are many investment options from which to choose with the Sun Life Solutions variable annuity.  The Sun... Read More

Annuities Finance Independent & Assisted Living

In the article "Annuity can help if you outlive your nest egg," by Steve Butler of the Contra Costa Times, the author shows how annuities can help finance your retirement through age 100 or more.  If you reach the age of 65, you have a 17% chance of living to 95 and a 5% chance of living to the ripe old age of 100.  While those aren't huge percentages, it is a possibility that you'll live that long and you'll want to be able to finance that life if you are so lucky.  The author suggests... Read More

Only the Best Annuities in California

As the Government Accountability Office urges more Americans to look towards the best annuities for retirement, state and local governments are issuing laws to ensure consumers are protected.  US Insurance published an article about two impending California laws, "California officials urge approval of two annuity reform bills."  The bills passed through the state legislature and are now awaiting approval from the Governor.  Dave Jones, the Insurance Commissioner, is hoping the bills will be... Read More

Variable Annuity Improvements from AXA

According to the UK's News Insurances' Barbara Karouski, AXA Life Europe has made some important changes to their variable annuity products.  In the article "AXA: enhancements to the Secure Advantage range of Variable Annuities," it says that some of the changes include lower minimum contributions, increased age ranges, and more index funds.  AXA Life Europe distributes their Secure Advantage variable annuities through AXA Wealth in the UK.  After consulting with advisors and researching the... Read More

The New Fee-Based Variable Annuity

After a period of time where variable annuity products that were fee-based had a bad reputation, some of the biggest annuity companies are revamping the products.  Reuters Linda Stern discusses this new trend in her article "Analysis: New fee-only annuities aim to move upscale."  More advisors are changing to fee-only practices now and insurance companies are making new products to attract them.  Retirement security has become more important than ever before during the past few years causing... Read More

Variable Annuity Sales Increase 5 Quarters Straight

Variable annuity demand has been increasing for over a year now, according to Bloomberg's "U.S. Variable Annuity Sales Rise 24% Led By Prudential, MetLife."  Noah Buhayar's article says that variable annuity sales have increased for five straight quarters as the stock market has risen.  Prudential Financial and MetLife have led the way in variable annuity sales and their increases have helped the industry thrive.  Sales were up 24% from the first quarter of last year to the first quarter of... Read More

Taxes for a Variable Annuity Gift

A question was recently asked to CNN Money about the taxes that will be paid to gift a variable annuity to one's children.  Anne C. Lee of Money Magazine cleared up the confusion regarding variable annuity gifting.  There are two important things to look into.  First of all, the annuity owner will not owe gift taxes on a variable annuity gifted to their children unless the current annuity value is greater than an individual lifetime gift-tax exclusion.  This amount is currently $5 million,... Read More

Real World Scenarios: Annuity for a 90-year-old

Our series of real world scenarios continues. A bank executive talked my 90-year-old mother-in-law into purchasing an annuity to increase her yield from a CD. Is this a mistake (considering her advanced age), or was it a good move to avoid probate in the case of her death? Whether the annuity purchase was a wise move depends on the terms of the annuity she purchased. Call the insurance company and ask them the following questions:1) What is her current... Read More

Real World Scenarios: Variable Annuities Vs. Mutual Funds

The next entry in our series of Real World Scenarios: What are the primary differences between mutual funds and variable annuities? Annuities and mutual funds can each play an important part in a financial plan. However, they are different products, designed to meet different needs and time horizons. Both offer professional money management and pooled investment vehicles. Mutual funds may be appropriate for intermediate- and long-term goals. There are many types of... Read More

Real World Scenarios: Variable Annuity Risks

Here is the fourth real world scenario in our series. I know with a variable annuity I can invest in sub-accounts that are based on funds that contain various mixtures of stocks, bonds and money markets, but what are the actual risks involved? That's a very good question. If you purchase a variable annuity, you run the risk of the underlying investments performing poorly. This risk is balanced by the potential of receiving a higher return than would be... Read More

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