Prudential to Halt Sales of Variable Annuities with GLWB

Prudential Financial has announced that they will no longer sell variable annuities with guaranteed living benefits in response to the uncertain economic climate and historic low interest rates. This includes the company’s Highest Daily Income and Prudential Defined Income annuity products, according to chairman and CEO Charlie Lowrey. “In terms of changing the focus within the business, we’re on a path to de-risking, and have made major pivots to less interest-rate sensitive and... Read More

New Variable Annuity from Transamerica

Last week Transamerica, a leading provider of life insurance, retirement and investment solutions, announced the launch of the Transamerica Advisory Annuity, a new low-cost variable annuity. The innovative product offers investors the following benefits, according to a recent article from Herald-Mail Media:Lower cost - average annual fees are more than 70% lower than recent industry averages by Morningstar, Inc. as of December 2018 Choice of death benefits - policy value or return of... Read More

Allianz Partners With Orion to Provide Annuity Data

In a press release last week, Allianz Life Insurance Company of North America announced that it would be partnering with Orion Advisor Services, LLC to share annuity data with stakeholders. Orion is a top portfolio management solution provider for registered investment advisors (RIAs), and those utilizing the Orion platform will have access to daily, timely data for all Allianz Life fixed index annuities and indexed variable annuities within Orion’s trading and reporting interface.“We... Read More

Lincoln Financial Announces New Variable Annuity

Lincoln Financial Group has recently announced the launch of a new indexed variable annuity, offering retirees options for protection and growth opportunities. According to a Business Wire press release, Lincoln Level AdvantageSM will allow clients to continue to build their savings while protecting assets from some of the most challenging risks in today’s market.Previously, Lincoln Financial released a study that found many savers are concerned about portfolio protection, especially as... Read More

Jackson National Jumps On Fee-Based Annuity Wagon

Jackson National Life Insurance Company has just announced the launch of their new fee-based variable annuity, Perspective Advisory II (PAII), according to a recent press release. With the goal of helping people find financial freedom in retirement, the product boasts no surrender charge and, together with the expanded suite of offerings, establishes Jackson’s new relationship with Vanguard, one of the world’s largest investment management companies.“At Jackson, we’re committed to... Read More

LIMRA Predicts Drop in Annuity Sales

After the fate of the DOL fiduciary rule was decided and it was determined that the implementation date is indeed quickly approaching, LIMRA released its forecast for sales of U.S. annuities, and it isn’t all sunshine and rainbows. Overall, the group predicts that individual annuity sales will decrease between 5 and 10% in 2017, according to a recent article from InsuranceNewsNet. The forecast also includes a drop in indexed annuity sales, which would be the first of its kind in nearly 10... 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

Fixed Annuity With Income Stream Makes for Happy Retirees

Perhaps the biggest financial challenge facing us today is how to turn our retirement savings into income. In "Advisors Challenged To Convert Savings To Retirement Income," Financial Advisor's Juliette Fairley discussed some of the findings from a recent IRI survey. The Insured Retirement Institute found that 80% of retirees who have at least $50,000 saved get income from an annuity or pension. But pensions will be few and far between in the future, so the focus on annuity products for... Read More

Don’t Make Judgements About Annuities Based On False Information

Despite recent work by many organizations helping to spread quality information about annuities, there are still some myths out there that need to be cleared up to the general public. Annuity products can be a valuable tool to help finance your retirement because of their guaranteed income that can be set up to last for as long as you live. Recently, Phil Simonides wrote an article for Marketwatch to help clarify some annuity information. In "5 myths about annuities to know before you buy," he... Read More

Jefferson National’s Low Cost Variable Annuity Big Part of Why Nationwide Bought Company

Nationwide Financial is planning to greatly expand their variable annuity business through the purchase of Jefferson National, a strong player in the variable annuity game. Investment News' Christine Idzelis wrote about the acquisition in the article "Nationwide to buy Jefferson National." This deal gives Nationwide access to Jefferson National's 4,000 registered investment advisors and fee-based advisors.It's a move that Nationwide sees fitting because of the new fiduciary standards that... Read More - Prefooter


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