More than 60% of the respondents indicated an interest in selling insurance products online, determining that term life insurance and fixed annuities
would be the most appropriate products for e-commerce.
iGO STP for Fixed Annuities
enables carriers to leverage straight-through processing, reduces cycle time for fixed annuity applications, and speeds policy issuance.
IRI President and CEO Cathy Weatherford said in a statement that solid full-year sales for fixed annuities
show that demand for the kinds of solutions offered by annuities still exists.
Expect to see more fixed annuities
with features that provide access to liquidity for specific needs and/or emergencies, says Bernard.
Further, since there is no tax on interest until annuity proceeds are distributed, the tax-adjusted return for fixed annuities
is more like 4.
As part of a client's diversified portfolio, fixed annuities
can provide an effective means of securing a portion of the investor's assets while accumulating tax-deferred interest," said Steve Kluever, senior vice president, product management, Jackson National Life Distributors LLC (JNLD).
The American Council of Life Insurers, the National Association of Insurance and Financial Advisors, the Indexed Annuity Leadership Council, the National Association of Fixed Annuities
and an insurance agency, the Market Synergy Group, have all filed lawsuits against DOL.
For the insurance sales industry as a whole, sales of fixed annuities
dropped 10 percent in the first quarter, matching the experience of the banking industry's programs.
In fact, according to LIMRA, fixed annuities
outsold variable annuities for the second quarter in a row: $35.
But 4Q will be remembered as the time that captive agents and broker-dealers truly became important for the distribution of fixed annuities
, partly to compensate for falling sales of variable annuities.
4 billion of fixed annuities
last year, up 78% from 2000, according to data compiled by Kenneth Kehrer Associates, a consulting firm in Princeton, N.
Research Shows Retirees and Near-Retirees Can Benefit from Fixed Annuities
But Most Do Not Own, Know About or Understand Fixed Annuity Products