Product Alert: Sagicor Life Milestone MYGA 5 

This rate is dropping from 3.00% to 2.65% on July 1st. Speak with a registered agent by emailing support@annuityfyi.com or calling 1-866-223-2121.Finding a plain vanilla fixed annuity offering an attractive interest rate in this era of rock bottom rates is no small affair. So when one occasionally comes to our attention, as it has, we make a point of getting the word out.Sagicor Life Insurance Company, which boasts a stellar A- rating from A.M. Best, is offering a five year multi-year... Read More

Top Annuity Picks for the New Year

The end of the calendar year is a time when many of us choose to assess the state of our finances and plan for both long and short-term retirement goals.With this in mind, we are excited to share Annuity FYI's Top Picks for the New Year.  We have selected what we consider to be some of the most competitive products on the market heading into 2021.  We've identified Top Picks in the following categories:  Fixed Indexed Growth, Fixed Indexed Income, Variable Growth, and Variable... Read More

Hands Down, Select Annuities Today Are Better Than CDs

Most of the time, folks weighing the purchase of an annuity ask all kinds of questions. Which type of annuity is best for me and why? What maturity best fits my needs? If I want to dabble in the stock market, should I go “all in” with a variable annuity or hedge my risk with a fixed indexed annuity?These days, though, the annuity landscape is markedly different. The majority of people shopping for an annuity overwhelming have just one question: How can I get a half-way decent rate of... Read More

Annuity Advantages

An annuity is a contract between you and an insurance company, whereby you give the insurer your premium dollars, and in return the insurer guarantees you certain benefits. While annuities are not life insurance policies, they are typically issued by life insurance companies and are considered insurance products. All annuities offer tax advantages, but they are all unique depending on the type of annuity product purchased. Here’s a look at 9 distinct advantages available via the plethora... Read More

New Annuity Product Strategy from Ameriprise

As interest rates continue to fall, Ameriprise Financial Inc. is answering with more emphasis on annuity sales without return guarantees. According to a recent article from ThinkAdvisor, executives from Ameriprise, which is based out of Minneapolis, held a conference call with securities analysts yesterday to discuss the annuity product strategy.The Ameriprise chief executive officer, James Cracchiolo, said during the call  that the company’s annuity books of business generate... Read More

Structured Settlements and the Incentives That Complicate Them

Every year, thousands of individuals are involved in accidents that require years of medical care, often funded by a lump-sum financial settlement. Because it can be extremely challenging to manage such care with an all-cash settlement, many end up settling legal claims with a structured settlement. This means they trade a cash settlement for long-term, tax-free income that is funded by an annuity. It’s a wise decision and encouraged by the federal tax code, but did you know that special... Read More

Retirement News: Family Savings Act Passes House

Earlier this week, the Family Savings Act passed out of the U.S. House of Representatives by a 240-177 vote, according to a recent article from BenefitsPRO. The legislation allows non-related employers to pool workers under one defined contribution plan, relaxing existing regulatory guidance on employer participation in Multiple Employer Plans.The Family Savings Act is one of three bills packaged under Tax Reform 2.0 and originally included 17 provisions intended to relax restrictions on... Read More

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

Wink Inc: MYGA, FIA Annuity Sales Soar

According to a recent survey conducted by Wink Inc., sales of indexed annuities and multi-year guaranteed annuity (MYGA) contracts were solid in the second quarter. On the other hand, figures show that traditional fixed annuity products are on the decline.Wink, a Des Moines, Iowa-based firm, has only released preliminary summary statistics for the U.S. deferred individual annuity market for the latest quarter, according to a recent article from ThinkAdvisor.  But those numbers reveal that... Read More

Retirement Strategies: Annuity or IRA?

If you’re at all interested in saving for retirement, there’s a really good chance you’ve heard of both annuity products and IRAs. While they are two totally different tools, they have several commonalities. Both can generate income later in life and offer some potential tax advantages. But both also include penalties for early withdrawals. These two financial products also have several differences, which is what should interest you if you’re looking to add one to your retirement... Read More

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