Ohio National Financial Services Joins FIA Market

The fixed indexed annuity (FIA) market has a new player according to a recent article from InsuranceNewsNet. Ohio National Financial Services has thrown their hat in the ring for the first time in an attempt to take advantage of growing sales trends in the product arena. Several versions of the company’s ONdex FIA are now available.The ONdex Annuity is offering four crediting strategies, while ONdex Freedom is offering three, eliminating the option based on a custom index. A fee-based... Read More

Tax-Sheltered Annuities 101

Annuity products can be very valuable tools in financing a retirement. While they don’t make sense for everyone, many can benefit from the guaranteed lifetime income payments provided by an annuity. Unfortunately, because some products are rather complex, there are many misconceptions, giving them a bad reputation. One of the best ways to overcome this issue is through financial education. Today, let’s look at one type of annuity, tax-sheltered annuities, and break down the basics (with... Read More

Study Answers: Who Favors Immediate Annuities?

A recent study, conducted by the Employee Benefit Research Institute, set out to determine just which investors are looking to put their retirement savings into immediate annuities and which are looking elsewhere. You see, employer sponsored retirement plans have been rapidly declining, causing an uptick in interest in alternate annuity income options. But American investors aren’t all jumping on the annuity band-wagon. So, who is it that wants immediate annuity products? Here’s what they... Read More

Transamerica Launches Fee-based Variable Annuity

A new fee-based variable annuity is being launched by Transamerica in an effort to offer investors and advisors additional flexibility in retirement planning. The Transamerica Variable Annuity I-Share will charge an annualized fee based on a percentage of the investor’s assets, and is available through broker-dealer managed platforms. Additionally,  there will be no commission or surrender charges.  “The investment landscape is changing, and we see that investors and their advisors... Read More

Security, Flexibility and Guaranteed Income With AIG’s New Fixed Annuity

In an effort to attract investors who are looking for low risk, long-term retirement income solutions, American International Group, Inc. (AIG) recently announced the launch of Assured Edge Income Builder. According to a recent article from InsuranceNewsNet, the new fixed annuity product is issued by American General Life Insurance Company (AGL) and offers clients guaranteed lifetime income.“Assured Edge Income Builder allows investors to maintain access to their retirement assets and... Read More

Is an Immediate Annuity Right for You?

Even though the stock market is winding down another good year, there are still many reasons why many retirees are concerned about outliving their savings. The recent rise in interest rates have undermined bond prices, and with additional rises expected, it isn’t hard to understand their uncertainty. One popular option to help calm those concerns and provide stable, guaranteed income in retirement is the immediate annuity. For a single, upfront payment, this financial product provides a... Read More

Understanding Annuity Income

There are a lot of choices when purchasing an annuity, but in general, the guaranteed  lifetime income stream is always the same, according to a recent article from The Street. Author, Stan “the Annuity Man” Haithcock, argues that whether you purchase an SPIA (Single Premium Immediate Annuity), DIA (Deferred Income Annuity), QLAC (Qualified Longevity Annuity Contract), or attach an Income Rider to a Variable or Indexed annuity, all income from an annuity is a mixture of return of principal... Read More

Top FIA Myths and Why They’re Wrong

Did you know that more than 25 million Americans, aged 60 and over, are living at or below 250% of the federal poverty line, making them economically insecure? It’s understandable why so many retirees are fearful of outliving their money. While Social Security helps, it often isn’t enough to support a full retirement, leaving millions of people in our country struggling to build-up retirement savings to survive on. There are few options for generating income in retirement, especially income... Read More

Fixed & Variable Annuity Sales Push Total Figures Slightly Upward

Last week, the LifeHealthPro Editors summarized the IRI's second quarter annuity sales report and found that "Annuity sales (are) trending slightly up year over year." The Insured Retirement Institute based their report on information from Beacon Research and Morningstar Inc. Second quarter total annuity sales were $55.9 billion, just a little bit under the first quarter sales of $56 billion. That is down 4.3% from the second quarter of 2015's sales of $58.4 billion. Year to date annuity sales... Read More

Focus on Guaranteed Lifetime Income in Retirement Planning

On paper, annuities have everything that retirement savers need to meet their income needs when they are no longer working. But most workers are not choosing annuities because they aren't aware of their value. There are other behavioral factors keeping people away from annuities as well. In the LifeHealthPro article "Why aren't retirement savers choosing annuities?", Marlene Y. Satter summarized some of the latest findings on this topic. The Center for Retirement Research at Boston College... Read More

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