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Fidelilty and New York Life Team on New Variable Annuity

Fidelity Investments recently teamed up with New York Life to launch the new deferred variable annuity product, the New York Life Premier Variable Annuity--P Series, featuring the Investment Preservation Rider. The new annuity provides investors with growth potential while ensuring guaranteed principal protection. According to a Business Wire press release, P Series also offers market participation with downside protection through a simpler product design when compared to other annuities... 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

Big Changes in Fixed Annuity Sales Leaders Indicates High Competition

Insurance News Net's Linda Koco said that the "FA Competition (is) Shifting into High Gear" in a recent article. This is in steep contrast to the variable annuity side of the business. The LIMRA Secure Retirement Institute's sales rankings revealed an interesting trend over the past few years. The quarterly sales rankings change the most, both up and down, when the annuity competition is stronger. Third quarter sales figures showed a lot of movement between annuity carriers for sales rankings... 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

A Fixed Annuity with Living Benefits from New York Life

New York Life Insurance Company released a unique fixed annuity product last October without any introduction or fanfare.  This deferred fixed annuity is one of the first to offer guaranteed lifetime withdrawal benefits comparable to those of variable annuities and indexed annuities.  This information comes from Darla Mercado's Investment News article "New York Life raises the living benefit stakes - on a fixed annuity."  The Clear Income fixed rate annuity performs like a traditional fixed... 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

Top Annuity Sellers for the 3rd Quarter

Third quarter annuity sales results were released last month.  LIMRA has released multiple reports detailing the annuity sales totals and the companies selling the most annuity products.  During the third quarter of 2014, annuity sales totaled $58.2 billion.  This total was a 2% decline from the first quarter of 2013.  The total for the first three quarters of this year was $177.7 billion, which is 6% higher than annuity sales during the first nine months of last year.  The variable... Read More

MetLife, Jackson National & AIG Lead Second Quarter Annuity Sales

Each quarter when annuity sales results are announced, there are some changes in leadership.  Although the fixed or variable annuity leaders sometimes stay the same for long periods of time, there is often a mix up in total annuity sales leaders.  During the second quarter of 2014, the top annuity seller was a company that actually had a pretty poor first quarter.  Life Health Pro's Emily Holbrook took the sales results from SNL Financial and summarized them for the article "The top 10... Read More

Deferred Income Annuities Offer An Array of Benefits

Deferred income annuities have become an important and popular retirement tool over the past couple of years.  In Sandy Block's Kiplinger article, "When a Deferred-Income Annuity Makes Sense," she helps people determine if this type of annuity product is right for their personal financial plan.  It's important to consider your family history when you are looking at deferred income annuities.  If you have a lot of relatives who have lived into their 80s, 90s and even 100s, there is a good... Read More

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