Long-term Care and the COVID-19 Crisis

As the COVID-19 pandemic continues to surge around the county, many Americans are looking into long-term care options and are shocked at what they’re finding. Many years ago, the underwriting criteria for long-term care was changed by the insurance industry leading to a significant increase in cost for those who were likely to need it. To make matters worse, increased longevity, higher health care costs and low interest rates made many LTC products too expensive to provide, and several... Read More

Allianz Reports Boom in Buffered Annuity Sales

Further evidence of the recent boom in buffered variable annuity sales has surfaced in the form of third quarter numbers released by Allianz. According to a recent InsuranceNewsNet article, the financial services company claims that sales of these annuity products increased by an impressive 62% when compared to the previous year. Such numbers show that advisors have warmed to the product line in an otherwise struggling variable annuity market.Allianz also reported that fee income from... Read More

Hybrid Annuities Continue to Gain Momentum

The hybrid annuity market has been on fire recently, and experts agree that it’s only going to get hotter. Eric Steigerwalt, president and CEO of Brighthouse Financial, is a big believer of the products and an even bigger seller of them. Steigerwalt claims that the hybrid annuity “is a great product for manufacturers, it’s a great product for distributors, it’s a great product for our clients - so growing that business, I think, would be great.” He added, in a recent InsuranceNewsNet... Read More

Criticism of Buffer Annuities: Is it Justified?

Have you heard of "buffer annuities?” They're described as sort of a cross between variable and indexed annuities. Through exposure to structured products like options contracts, they boast a protection to the downside in exchange for a cap to the upside. Several industry players have reported an increase in complaints against these products, but according to a recent article from Investment News, the criticism may not be warranted.One such critic of buffer annuities is Andrew Stoltmann,... Read More

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