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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

Jackson National Launches New MYGA

Wink’s Sales and Market Report for the first quarter of 2019 shows that the sales of multi-year guaranteed annuities (MYGAs) have grown almost 80% in the last year, and Jackson National Life Insurance Company is jumping on board. The launch of Jackson RateProtector, a single premium MYGA was announced yesterday, offering consumers the opportunity to protect and grow their assets through guaranteed interest rates that will not fluctuate during a selected time period. The press release also... Read More

SEC’s New Best Interest Standard Met With Mixed Reviews

Earlier this week, the U.S. Securities and Exchange Commission approved the SEC’s Regulation Best Interest: The Broker-Dealer Standard of Conduct (Regulation BI). The SEC started working on the Reg BI project after the U.S. Department of Labor started experiencing difficulties in implementing its own fiduciary rule regulations, according to a recent article from ThinkAdvisor. The new regulation is set to have a compliance date of June 30, 2020. The new standard will require broker-dealers... Read More

Great American Life Launches Unique New Annuity Product

A recent collaboration between Great American Life and Raymond James has produced a new type of variable-indexed annuity. The Index Summit 6℠ is the first of its kind, offering crediting strategies with both upside and downside participation rates. According to a recent InsuranceNewsNet article, the breakthrough product will only be offered through financial institutions, banks and independent broker dealers. Currently, the crediting strategies feature a 50% downside participation rate... Read More

Security, Safety Lead to More Record Breaking Annuity Sales

First quarter annuity sales numbers are in, and once again record highs have been reported.  Some financial experts are suggesting a desire for security and safety is the leading cause for the continued increase, according to a recent article from the Pittsburgh Post Gazette. “Annuity sales in the first quarter are definitely a reflection of a flight to safety,” said Teodor Panaitisor, a research analyst at Limra Secure Retirement Institute.  “Looking at the numbers, we can assume... Read More

New Senate Bill Aims to Help Retirement Savers

Last week, a new bill was introduced in the U.S. Senate to strengthen America’s retirement system. According to a recent FA Magazine article, the Retirement Security & Savings Act includes more than 50 provisions designed to help people who have not saved enough money for retirement. The bill was introduced by Senators Rob Portman (R-OH) and Ben Cardin (D-MD). Additionally, the bill would enhance tax breaks and ease regulations to encourage more small businesses to offer workplace... Read More

Fidelilty and New York Life Team on New Variable Annuity

Fidelity Investments recently teamed up with New York Life to launch the new deferred variable annuity product, the New York Life Premier Variable Annuity--P Series, featuring the Investment Preservation Rider. The new annuity provides investors with growth potential while ensuring guaranteed principal protection. According to a Business Wire press release, P Series also offers market participation with downside protection through a simpler product design when compared to other annuities... Read More

Many Americans Are Unclear About Which Financial Products They Own

Life Happens, a nonprofit organization that is dedicated to helping Americans take personal financial responsibility, recently teamed up with LIMRA to publish a survey about the awareness of available financial services. According to a recent article from ThinkAdvisor, a major problem was identified through the research: American participants are unsure about what financial services products they actually own. The survey team used data from their 2019 Insurance Barometer Study, which was an... Read More

Allianz Addresses RMD Challenges

Required minimum distributions, or RMDs, activate for retirement account holders at the age of 70 ½, and for those who don’t need the money that the government requires them to take, they can be problematic. A solution to this unavoidable conundrum isn’t always obvious, but one insurer is trying to fix that.  RMDs mandate that retirement account holders, aged 70 ½ and older, withdraw and pay tax on a percentage of an individual retirement account or 401(l). According to a recent... Read More

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