Annuity Mobile Apps are an Important Innovation

National Underwriter Life & Health made a list of the top insurance innovations this year for their May issue.  In Life Health Pro's article, "3 annuity industry innovations you should know about," Emily Holbrook lists the top three innovations related to annuity products.  The annuity industry is constantly innovating to stay relevant and popular with the public.  As interest rates, financial markets, and government regulations change; so too do annuity products.  Some changes are for... Read More

4 of the Top 5 Fixed Annuity Sellers are Indexed

Last year was the first time ever that all types of fixed annuities had year-over-year annuity sales increases.  Records were shattered all around, which was surprising to some as interest rates remained low.  In the article "Fixed Annuities Continue Strong Sales Pace in 2013, Best Year Since 2009," Beacon Research's Lisa Plotnick summarized the research firm's Fixed Annuity Premium Study.  Income and indexed annuities blew old sales records out of the water with their sales results in... Read More

New Variable Annuities Offer A Deferred Income Annuity Rider

Deferred income annuities have been increasing in popularity and sales over the past couple of years.  Variable annuities have gone through quite a transition in that same time frame.  While they still hold the majority of annuity sales, variable annuity carriers have scaled back their products and made changes to protect themselves from market tumult.  An interesting new innovation is combining the deferred income annuity and the variable annuity to offer clients multiple benefits in just... Read More

Fixed Annuity Sales Increased 16% In 2013; Variable Sales Were Flat

In Linda Koco's Annuity News summary of 2013 annuity sales, she likens them to a weather report.  "Annuity Sales in 2013: Sunny With A Bit Of Haze" discusses the high points for annuity sales in 2013 and says that the low points weren't too low.  The highlight, as I've written about before in this blog, was the deferred income annuity.  While this newer annuity product doesn't make up a big portion of total annuity sales, its sales increases were astronomical.  2013 DIA sales of $2.2... Read More

Simplify with a Combination Variable Annuity-Deferred Income Annuity Product

Deferred income annuities have become more popular over the past few years.  Alone, they are a great way to prepare for retirement and ensure that you don't run out of money.  You purchase the annuity with a lump sum and start receiving lifetime income payments at a predetermined point in the future.  Some people defer their DIA's until age 85.  A new annuity product takes the guarantees of the DIA and combines them with a variable annuity to take advantage of potential market gains.  In... Read More

SPIAs & DIAs Are Good Lifetime Income Strategies, According to USA Today

In an excellent special article for USA Today, Robert Powell gives us the best "Ways to avoid outliving your income."  Since we don't know when we will die, retirement finance planning is tricky.  We have to plan for our life expectancy and the life expectancy of our spouse for those who are married.  Important planning has to be done so that we can manage longevity risk and maintain our lifestyle as long as we live.  In addition to planning for our income needs, we also need to plan for... Read More

NAFA Calls 2014 “The Year of the Fixed Annuity”

The National Association for Fixed Annuities (NAFA) has declared 2014 "The Year of the Fixed Annuity" in an article for their Annuity Outlook Magazine.  Their president, Kim O'Brien, likened the outlook for fixed annuities to the Chinese New Year calendar character, the Horse.  2014 is the year of the Horse in Chinese tradition, symbolizing constant effort to improve.  O'Brien says that the fixed annuity industry does just that by trying to improve peoples' lives through annuity guarantees,... Read More

Annuity Products Transfer Longevity Risk to an Insurer

One of the most difficult parts of retirement planning is that no one knows exactly how long they will live.  So even with excellent planning, you run into longevity risk, or the risk of outliving your savings.  In the Forbes article, "Planning For An Uncertain Life Expectancy In Retirement," Jamie Hopkins gives us some advice for managing longevity risk.  We all know that we need to save for our retirement, but we don't know exactly how much.  If you save enough money to last you until you... Read More

The IRI Predicts An Increase for Annuity Sales in 2014

We're all making predictions for the new year.  It might be how long our resolutions will last or where the interest rates will go.  I have found a number of predictions about annuities, including an article in Life Health Pro summarizing the Insured Retirement Institute's (IRI) 2014 forecast.  Maria Wood tells us what the IRI expects to see happen in the annuity industry this year in "Annuities: 4 predictions for 2014." First of all, the IRI expects an increase in annuity sales.  2013 was... Read More

Income Annuities Eliminate Longevity Risk

New York Life recently published the article "12 things you need to know about Income Annuities" on their website.  This basic information is very useful for answering common consumer questions about this type of annuity.  Income annuities work by using some of your retirement savings and turning it into a stream of guaranteed lifetime income.  You make a one-time payment, or multiple premium payments, to an insurance company.  They will then send you income checks either monthly,... Read More

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