Long before we had
living benefits, variable annuities were sold mostly for tax-deferred growth with a guarantee of principal at death.
While death benefit protection is the foundation of any life insurance policy, focusing on the additional
living benefits can make for a much more upbeat and positive conversation.
com)-- Healthy
Living Benefits is happy to reveal a new, refreshed website.
Advising on guaranteed
living benefits Variable annuities: What's hot, what's not
The new wave of IOVAs epitomizes an overall move to variable annuities "with not a lot of bells and whistles," says John McCarthy, product manager, annuity solutions, at Chicago-based Morningstar, who estimates that some 85 percent to 90 percent of IOVAs offered today come with no death or
living benefits.
While products with guaranteed
living benefits continue to be very popular and provide a solution for the need for guaranteed lifetime income, there is increasing interest in variable annuities without
living benefits, otherwise known as investment-only variable annuities, or IOVAs.
Living benefits are relatively new--they gained traction in the late 1990s and took off like rockets in the early 2000s.
Desjardins Group entered into a definitive agreement to acquire State Farm Canada s property, casualty and life insurance business, as well as its mutual fund, loan and
living benefits companies.
The prospect of a continued increase in the sales of term policies and riders is also good news for existing and potential clients, given the valuable role
living benefits can serve.
Eileen Rominger, director of the SEC Investment Management Division, told the lawyers what the SEC is keeping an eye on them regarding VAs with
living benefits.
1, advisors who sold variable annuities with
living benefits realize that their client who bought those were much happier than the ones that bought mutual funds without it.
It is important to recognize that the "guarantees" offered by these
living benefits (GMWB and GLWB) are subject to the claims-paying ability of the issuing life insurance company (i.
