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MetLife’s Brighthouse Financial Launches First Annuity Product

On Monday, the consumer life insurance and annuity unit from MetLife Inc., Brighthouse Financial, launched its first new product, a deferred annuity product. The performance of Shield Level 10 is tied to one of three investment indexes, according to a recent article from Business Insider. Last year, MetLife announced its plan to spin off its Brighthouse business, which is still awaiting regulatory approval. The index annuity will initially be distributed by Wells Fargo Advisors, a unit of... Read More

Wells Fargo and MetLife Partner for New QLAC

In an effort to help their clients eliminate the risk of outliving their retirement income, Wells Fargo Institutional Retirement and Trust has partnered with MetLife to offer a new annuity option. According to a recent article from PLANSPONSOR, MetLife Retirement Income Insurance is qualifying longevity annuity contract (QLAC) that will provide participants with payments on or before their 85th birthday. As participants move closer to retirement, they can designate a part of their plan... Read More

Deciding Between a Lump Sum or an Annuity? Read This First

A recent study has discovered that retirees who opt to take a lump sum instead of a guaranteed monthly annuity from their defined benefit or contribution plan could be  making a big mistake. According to a recent BenefitsPRO.com article, the MetLife Paycheck or Pot of Gold study found that 21% of respondents who opted for a lump sum say they’ve already spent all of their money. Worse still, of that 21%, the average time it took to blow through that money was just five and a half years.... Read More

More Income Annuity Options Needed in DC Plans, Sponsors Request Support

There has been quite a shift in thinking by defined contribution plan sponsors in regards to what the main goal of their plans really is. Defined contribution plans were originally designed for employees to save for retirement and the goal really was who could save the most in their working years and have the highest balance upon retirement. But now, plan sponsors have shifted the goals for their retirement plan participants. The goal has shifted to creating income rather than just building... Read More

Variable Annuity Decline Shuffles Annuity Sales Leaders

The LIMRA Secure Retirement Institute just published their quarterly annuity sales report detailing the "Top 10 annuity sales leaders" from the first quarter. In an article for LifeHealthPro, Kristen Beckman listed the top sellers and discussed the big power shift between fixed and variable annuities. Their data includes information from 64 companies who make up 96% of all annuity sales. Total annuity sales were $59 billion in the first quarter. Fixed annuity sales of $32.3 billion were higher... Read More

New Annuity Options Focus on Income, Growth and Security

There is a big focus on income with some of the newest annuity products introduced this year. In Investment News's "Allianz, Securian Among Insurers Focusing on Income Annuities," Linda Koco explains the current trend. Based on the late summer product introductions, Koco says that retirement income and security are the big focuses for fall.  Accumulation is given a lot of attention as well, but not as much as income. These focuses are being shown in four different ways. Those people who... Read More

Jackson National, AIG Led Second Quarter Annuity Sales

The LIMRA Secure Retirement Institute recently collected annuity sales data for their quarterly U.S. Individual Annuities Sales Survey. This information came from Investment News's article "Top 10 annuity sellers in the second quarter." Here is a summary of the second quarter sales figures before third quarter results are announced. Annuity sales increased between the first and second quarters of this year. During the second quarter, total annuity sales were $60.2 billion. This was 10% higher... Read More

MetLife’s Back With New FlexChoice Variable Annuity GLWB

MetLife was a big player in the variable annuity game for years, but they scaled back on their benefits in the recent past to make up for some turmoil in the markets.  They are back in the game now with a new variable annuity guaranteed lifetime withdrawal benefit rider.  In "MetLife gets back in the variable-annuity-with-living-benefits game," Investment News' Darla Mercado introduces MetLife's new living benefits rider.  This new GLWB rider is called FlexChoice and was released in the... Read More

2014 Variable Annuity Innovations

Variable annuity sales have been lukewarm this year with some flat months and some small decreases.  There are many reasons for this, including some key variable annuity players exiting the market and fixed indexed annuity business taking away from variable annuity products.  But despite the fact that sales aren't anything to write home about, life insurance companies are still introducing new products and innovating existing ones.  In Darla Mercado's Investment News article, "Life insurers... Read More

Large Insurers Introduce New Variable Annuity Products

Despite the negative attention that the variable annuity industry has gotten lately, many insurers are still introducing new products.  American General just released their newest variable annuity, the Polaris Select Investor.  Variable annuities still dominate overall annuity sales and offer benefits to consumers that are unmatched elsewhere.  In Insurance News Net's article, "American General Launches New Variable Annuity," Cyril Tuohy talks about what the new annuity product has to offer... Read More

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