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

Three New Annuity Lifetime Income Riders from Nationwide

In the midst of market volatility and uncertain economic times, Ohio-based mutual insurer, Nationwide, has just announced the launch of three annuity lifetime income riders. According to a recent article from ThinkAdvisor, the company said “it can do this now because it’s a big, strong company.”Most life insurers in the United States invest in corporate bonds and other fixed-income investments in order to generate the cash necessary to fund annuities. With interest rates continuing to... Read More

Considering a Fixed-Rate Annuity? Check This Out First

One of the most popular annuity products is the fixed-rate, or multi-year guaranteed annuity. This relatively simple product offers guaranteed income and higher rates than most competing products, making it a good choice for many. But with so many annuities available today, it’s critical to do a little research and learn which one is best for you and your unique needs. Here’s a deeper look at fixed-rate annuities, including several questions to ask before committing, as detailed in a recent... Read More

New Fixed Index Annuity Balances Growth and Protection

One of the many goals of most retirement planners is learning how to balance growth potential with principal protection when markets get volatile. In an effort to address this concern, Midland Retirement Distributors, a distribution business of Sammons Institutional Group, has launched a new fixed index annuity. According to a recent press release, Summit Navigate was designed for consumers who are close to retirement, layering two interest-crediting strategies to help calm nerves in this... Read More

1st Quarter Registered Index-Linked Annuity Sales Soar

First quarter annuity sales numbers are in, and registered index-linked annuities (RILA) were the big winners. When compared to the previous year’s results, RILA sales jumped 38%  to $4.9 billion, according to the final numbers released by the Secure Retirement Institute U.S. Individual Annuity Sales Survey.“Current market conditions favor RILA products more than fixed indexed annuities (FIA) as the increase in market volatility will help support crediting rates in RILAs,” said... Read More

New Study: 4% Rule Is Out, Annuities Are In

The so-called 4% rule has been the standard advice given from financial professionals for several decades now. This method recommends clients withdraw 4% of their assets each year in order to provide income while maintaining enough principal to last throughout retirement. While the concept of the rule was appropriate for the time it was created, it isn’t as applicable in today’s environment. When the 4% rule was created, interest rates were much higher, capital markets were less... Read More

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