Top Annuity Picks for the New Year

The end of the calendar year is a time when many of us choose to assess the state of our finances and plan for both long and short-term retirement goals.With this in mind, we are excited to share Annuity FYI's Top Picks for the New Year.  We have selected what we consider to be some of the most competitive products on the market heading into 2021.  We've identified Top Picks in the following categories:  Fixed Indexed Growth, Fixed Indexed Income, Variable Growth, and Variable... Read More

Hands Down, Select Annuities Today Are Better Than CDs

Most of the time, folks weighing the purchase of an annuity ask all kinds of questions. Which type of annuity is best for me and why? What maturity best fits my needs? If I want to dabble in the stock market, should I go “all in” with a variable annuity or hedge my risk with a fixed indexed annuity?These days, though, the annuity landscape is markedly different. The majority of people shopping for an annuity overwhelming have just one question: How can I get a half-way decent rate of... Read More

Annuity Sales Trends

If you watch financial news headlines you may have seen recent stories about a slump in annuity sales. However, the downturn, which many attribute to historic low interest rates, hasn’t affected all annuity products. In fact, products designed to protect against market volatility with an opportunity for slight gains in economic turmoil have favored well, according to a recent Financial Planning article. Compared to last year’s numbers, both fixed-rate deferred annuities, such as... Read More

Prudential to Halt Sales of Variable Annuities with GLWB

Prudential Financial has announced that they will no longer sell variable annuities with guaranteed living benefits in response to the uncertain economic climate and historic low interest rates. This includes the company’s Highest Daily Income and Prudential Defined Income annuity products, according to chairman and CEO Charlie Lowrey. “In terms of changing the focus within the business, we’re on a path to de-risking, and have made major pivots to less interest-rate sensitive and... Read More

Nationwide Announces New Annuity Suite

In response to the Setting Every Community Up for Retirement Enhancement (SECURE) Act, annuity heavy weight, Nationwide has announced the launch of a new suite of in-plan annuity products and partnerships with industry leaders. The line, which will be implemented from late 2020 through 2021, will include at least five new solutions.“We know this is not a one-size-fits-all problem, and we’re confident that a suite of solutions will give plan sponsors the flexibility to select the option... Read More

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

The Profile of an Annuity Buyer

During the month of September, the Insured Retirement Institute is hosting 4 virtual sessions, the Supply Chain Summit, to examine the current industry climate with a focus on how to develop and market products during these unique times. Market fluctuations, economic turmoil and the COVID-19 pandemic are all influencing the messages being sent to consumers. The panel that met on September 9, 2020 agreed that these factors are also creating opportunities. “There are some clear profiles... 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

Required Minimum Distributions Waived for 2020 – What to Do Next

The CARES Act, or The Coronavirus Aid, Relief, and Economic Security Act, has waived RMDs for 2020, but beginning in 2021, they will return. A recently published Fidelty article offered up 2 key questions to think about if you have assets that are subject to RMDs. Here’s a brief synopsis. If you have an employer-sponsored retirement account or traditional IRA, chances are you’ve heard of RMDs. RMDs, or required minimum distributions, are the payments that the IRS typically mandates... Read More

Annuity Talk Increases Amid Global Pandemic

A new survey conducted in the midst of the COVID-19 global pandemic discovered that more than half of financial professionals are concerned that at least 25% of their clients are at risk of running out of money during retirement. According to a recent press release, the study was released by Jackson National Life Insurance Company and the Insured Retirement Institute (IRI). The data was collected between April 8-17, 2020 in the form of an online survey. Less than 5% of participants reported... Read More

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