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Put Retirement Worries To Rest With An Annuity

For many, the thought of retirement is both jubilant and worrisome. While the idea of spending time away from the office and with the ones you love is magnificent, the fear of funding can be paralyzing. If you worry about running out of money in retirement, you are certainly not alone. Studies have repeatedly shown that one of the top concerns of current and soon-to-be retirees is not having the income to last the long haul.  This fear is certainly founded. For generations, our relatives... Read More

Many States Look to Add Annuity ‘Best Interest’ Regulations

According to a recent article from InsuranceNewsNet, several states are considering the addition of a “fiduciary duty” on insurance agents in the form of new regulations, and many aren’t too happy about it. Majority of the 14 states talking about regulation are big, heavily populated states where progressives are in key political positions, like California and New Jersey. “There’s a narrative that we have to fix something but there’s no evidence that there’s something that... 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

New Study: Which Annuity is Right For You?

A study recently conducted by Cannex, an independent company that facilitates the efficient and accurate exchange of pricing and analytics for annuity and bank products between financial institutions, found that there are a number of factors that determine which annuity provides the most income in retirement. Researchers compared income from four types of annuities: single premium immediate annuities, deferred income annuities (DIAs), variable annuities and fixed indexed annuities (FIAs) in the... 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

Shorter Surrender Periods Improve Sales of Indexed Annuities

As the first-quarter numbers roll in, the data is showing that investors are especially attracted to indexed annuities with shorter surrender periods. Sales through banks and broker-dealers skyrocketed as these distributors prefer the shorter surrender periods due to the higher rates and caps that they can impose in exchange for lower commissions.   “We’ve seen stuff going over to banks and broker-dealers more and more, and with banks and  broker-dealers, the five to seven-year... Read More

Are Fee-Based Annuities Right for You?

In response to the Department of Labor’s fiduciary rule, which requires financial advisors to offer retirement advice that is only in their clients’ best interests, the annuity industry has introduced a new generation of product. Several big time insurers, including Lincoln Financial Group, Pacific Life and Great American Life Insurance, have launched new “fee based” variable and fixed-indexed annuities for use in brokerage accounts. With this new type of annuity, investors pay an... Read More

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