Variable Annuities Mix it up this Summer

"A Summer Crop of Variable Annuities" in the Retirement Income Journal summarized this summer's spectrum of variable annuity products.  Author Kerry Pechter stated that insurance companies are either reducing the cost of the product and making it much more simple or keeping the elaborate benefits and increasing the cost.  John Hancock and MetLife introduced simplified versions while Allianz Life and Genworth Financial's new products are similar to traditional variable annuities.  As equity... Read More

For Annuities: Choose Your Insurance Company Wisely

It is crucial to choose insurance companies wisely when purchasing annuities.  Your annuity is only as sound as the insurance company that is backing it up.  Sometimes it can be beneficial to split your money into annuities at different insurance companies for even more security.  Kathy Kristoff of the LA Times further explained in "Check out what's backing your life insurance policy".Variable annuities are usually managed by separate investment companies, so in the event of an insurance... Read More

Annuity Sales Soar for Western-Southern

Standard & Poor's gives Western & Southern Financial an AA+ rating, putting it in the top 10 life insurance companies, according to The Business Courier of Cincinnati, Ohio.  Western-Southern is on track to set a record for their increasing annuity sales this year.  If their first quarter fixed and variable annuity sales keep stride, they will have an increase of 26% from 2008.  And 2008's sales were up 59% from 2007, so another large increase is fantastic.  Their CEO John Barrett... Read More

Annuity FYI Alert: Is Your Annuity Issuer on Solid Financial Ground? S&P Downgrades 10 Insurers, Upholds 1

Credit rating agency Standard & Poor’s recently downgraded the financial strength ratings of 10 major life insurers, and reaffirmed the rating on 1 (see table below). Here is the list of recent S&P® ratings actions, listed in order of financial security:Company (by financial security according to S&P®) Action Current Rating Financial Security DefinitionOhio National Financial Services Reaffirm AA "Very Strong, differing only slightly from those rated... Read More

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