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MassMutual’s Capital Vantage is Latest Investment-Only Variable Annuity

Many of our recent blog posts have mentioned the increasing popularity of investment-only variable annuities. Variable annuities with living benefits have become more expensive for insurance companies and therefore, more expensive for consumers to purchase. For this reason, insurers are introducing more investment-only variable annuity products and consumers see their benefits. MassMutual is one of the latest companies to introduce an IOVA, the first one they have ever offered. Greg Iacurci... Read More

Many Reasons for the Increasing Use of Deferred Income Annuities

We've talked before in this blog about the increasing popularity of deferred income annuity products.  Since 2011, their sales have increased from $211 million to around $2.8 billion last year.  The increasing sales of deferred income annuities have come partly from a decrease in variable annuity sales.  Investment News' Darla Mercado discussed the changing retirement income plan landscape in her article "Deferred-income annuities grab spotlight from traditional variable annuities."  DIAs... Read More

Longevity Annuities Are Poised To Take Off This Year

Yesterday's blog post listed some of the reasons why annuities are not in many defined contribution plans and why they are likely to be offered in many more plans in the future.  Jean Chatzky agrees with this and believes that longevity annuities are going to take off this year.  In a recent Fortune Magazine article, she explained "Why 2015 is the year for longevity annuities."  The Employee Benefit Research Institute's 2014 Retirement Confidence Survey found that only 18% of workers are... Read More

Jackson National & New York Life Sold the Most Annuities In 2013

The total annuity sales for 2013 were released last month and included some surprises and some results that were expected.  Daniel Williams of LifeHealthPro summarized all of the sales results in the article "Top 20 annuity sales leaders for 2013".  The results are divided into total annuity sales, fixed annuity sales, and variable annuity sales.  Jackson National Life was the top seller in both total annuity sales and variable annuity sales.  They sold $23.2 billion of annuities, $20.9... Read More

Longevity Annuities Can Protect Your Future Retired Self

A lot of factors should go into whether or not you buy a longevity annuity to ensure that you never run out of money in retirement.  The first things to consider should be your health and your family history.  If you are healthy in early retirement and many people in your family have lived past age 85, a longevity annuity might be a good purchase to ensure your financial future.  Of course, this certainly doesn't mean that you will live to be 95 or 100, but you will be able to maintain your... Read More

New Deferred Income Annuities From Fidelity

There has been a lot of talk about deferred income annuities and their increasing popularity recently.  To keep up with the trend, Fidelity Investments just introduced two new deferred income annuities to help finance future retirement needs.  The company press release, "Fidelity Investments Adds Two New Deferred Income Annuities from Guardian and Principal," offers some details on the products to be added to those already offered by Fidelity.  The demand for products to carry people through... Read More

New York Life Sells $1B of Deferred Income Annuities

The Wall Street Journal's MarketWatch recently published an article by Anne Tergesen stating that "More boomers (are) buying 'longevity' annuities."  While immediate annuities are still a popular choice for retirees, some younger Baby Boomers are purchasing deferred annuities as early as their 50's, even though they won't start receiving payments for another decade or so.  Last year the government made it easier for 401k plans to offer annuities because they believe that annuities are a good... Read More

Deferred Income Annuity, aka Longevity Insurance

Deferred income annuities, or longevity insurance, are being introduced by more and more mutual insurance companies.  These annuities are becoming increasingly popular due in part to the the low interest rate environment and a volatile stock market.  Investment News' Darla Mercado talks about why mutual funds are selling more deferred income annuities in "Mutual insurers ramp up development of deferred-income annuities."  This so-called longevity insurance basically means that you purchase... Read More

Fixed Annuities Welcome a New Product From MassMutual

MassMutual has introduced a new product in the world of fixed annuities, according to a company press release entitled "New Fixed Annuity Introduced: MassMutual Stable Voyage(SM)."  This single premium deferred fixed annuity offers many benefits to investors, including interest rate guarantees and protection on part of their investment.  They advertise guarantees in an economic climate where they are hard to find.  There is also stability on a portion of the investment, good for those... Read More

Annuities Will Still be Sold by MassMutual

Despite closing the MassMutual Retirement Income (MMRI) unit, MassMutual will continue to sell annuities and other retirement products.  Bill Kenealy, of Insurance Networking News, discusses this development in "MassMutual Axes Retirement Unit."  The MMRI was created in April of 2007 to focus on solutions for advisers looking to meet the guaranteed lifetime income needs of their customers.  This unit had been created as a separate entity to MassMutual's U.S. Insurance Group to closely... Read More

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