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Ohio National To Exit Annuity Industry

One of the nations top sellers of variable annuities has exited the business, confirming what many experts have been claiming in recent years: the variable annuity market is very challenging. Ohio National Financial Services Inc., has laid off 300 employees in the wake of the change. As of September 15, Ohio National will no longer accept applications for annuities, according to a recent article from InvestmentNews. Of the firm’s $42 billion in total assets under management, $24.9... Read More

Ohio National Launches Innovative Annuity Rider

In an effort to address both inflation and longevity, Ohio National has launched a new fixed indexed annuity (FIA) guaranteed living withdrawal benefit (GLWB) rider. According to a recent article from InsuranceNewsNet, ONdex Income Accelerator GLWB is guaranteed to increase by at least 3% a year. Typical GLWBs don’t necessarily increase once withdrawals begin. With the ONdex Income Accelerator GLWB rider, the interest credited is an amount multiplied by three, or an amount to which is... 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

Changing Season for Variable Annuities

The annuity market is in a tough spot with variable annuities right now.  They are still good products and offer many investors benefits they can't get anywhere else, but low interest rates have made it hard for insurance companies to keep up the guarantees.  The living benefits have put a strain on insurance companies, so we should all be prepared for upcoming changes.  While they will  make an already complex product even more complex in some cases, changes will help the variable annuity... Read More

Volatility Managed with New Variable Annuity Tactics

Many big name insurance companies are changing their strategies for managing volatility, according to Investment News's Darla Mercado.  Unfortunately, the financial advisors with which they work don't have a good understanding of the new strategies or exactly why they are being used.  In the article, "New VA strategies confusing to advisors," Mercado says that many advisors are complaining that they don't know enough about these new variable annuity strategies to use them, let alone explain... Read More

Exclusive Articles About New Annuity Riders

Two new articles published by Annuity FYI give us some insight into new annuity riders.  These riders not only guarantee lifetime income, they also protect your money against market risk.  David Port and Kerry Pechter each wrote an exclusive article for Annuity FYI and the press release, "Annuity FYI: New Annuity Benefits Guarantee Lifetime Income and Reduce Market Risk," highlights the articles and links to them. David Port's article, "An Annuity-Based Antidote to Volatility," talks about... Read More

Ohio National’s Variable Annuity Sales Up 8.5%

Even though the financial markets and economy had a volatile year, Ohio National had a record year for their earnings, capital growth, and sales.  Their industry was quite challenged this past year with low interest rates and volatile equity markets, but they maintained their strong capital position and excellent ratings. With variable annuity sales of $1.6 billion in 2011, Ohio National increased their total by 8.5% over 2010.  Last year they focused on protection and guarantees, and in... Read More

Jackson National Gets Best Variable Annuity Reviews

***UPDATE: For the latest top-rate, low cost variable annuities, click here.*** According to Investment News' Darla Mercado, financial advisors are more loyal to Jackson National Life Insurance Co.'s variable annuity products than to any other company.  In the article, "Advisers most loyal to this VA provider," we learn that Jackson National had the best variable annuity reviews followed by Prudential Financial Inc.  Jackson moved up from second place last year to throw Prudential out of... Read More

Ohio National's Variable Annuities Better Than the Competition

According to "Taking off the glitz," Darla Mercado of Investment News says that variable annuities are losing some of the benefits that made them so popular in the first place.  Many living benefit features were added and made more attractive last year in order to draw investors into variable annuities.  But since low interest rates make it more expensive for insurance companies to offer benefits like lifetime withdrawal benefit guarantees, some of the top sellers of variable annuities are... Read More

Ohio National Elects New Annuity Leader

According to a company news release, Ohio National Financial Services has elected a new President and CEO.  Gary T. "Doc" Huffman, CLU, ChFC, will take control of the life insurance and annuity company starting December 1 of this year.  Ohio National celebrated their 100th anniversary this year and Huffman will be the 9th man in charge of Cincinnati's #1 Top Workplaces in the large company category.  He has worked at Ohio National over two years after decades in the financial industry in... Read More

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