Fixed Annuity News

The fixed annuity industry is constantly changing. From product evolution and distribution consolidation to pending regulation and legislation, NAFA works diligently to keep up with every aspect of the marketplace and provide you with its most pertinent news in a timely manner. Utilize the information below to read about recent media coverage in our Monday Media Reports, access monthly advocacy updates via The Call, visit our Press Room for the association’s most current news releases or to catch up on our Twitter feed.

Industry News

Need Income Until Social Security Kicks In? Consider an Income Annuity With a Time Limit
15 Nov – Ken Nuss – Kiplinger

“Immediate income annuities with a lifetime payout are popular for a good reason. By providing immediate monthly income that’s guaranteed for life, they help assure a worry-free retirement.

But you don’t have to choose the lifetime option. Instead, you may want to choose a set income term, from five to 20 years. Sometimes it makes perfect sense to choose a period certain income annuity.”

Inherited Annuity Rules: What You Need To Know
15 Nov – John Egan – Forbes Advisor

“When a parent or a spouse passes away, it falls to the family to wrap up the loose ends of their financial affairs. If you’ve inherited an annuity contract in these circumstances, you may be wondering how it works and what to do with it.”

Why Would I Want to Use an Annuity Bailout Provision?
15 Nov – Geoff Williams – Yahoo!

“You may not want friends or family to need to bail you out of a problem, but chances are you aren’t going to mind getting some help from your insurance company’s annuity contract. In other words, if you get the chance to take an annuity bailout provision, you will want to consider it. This provision allows you to cancel an annuity without paying extra charges or fees. If you’re considering buying an annuity or exercising that provision in your current annuity, you might want to get clarification on how it will impact your retirement by speaking with a financial advisor.”

U.S. Annuity Sales Could Reach All-Time High: Cerulli
17 Nov – Michael S. Fischer – Think Advisor

“Annuity sales have been on a tear this year, largely because of the Federal Reserve interest rate hikes, which have allowed insurers to raise crediting rates on their fixed and indexed annuities, according to a new report from Cerulli Associates.”

Google searches for annuities soar 50%
21 Nov – Staff – Financial Planning Today

“Searches for annuities on search engine Google have increased by 50% since the start of the year, according to new data.

The number of searches for annuities has been highest since the end of September when annuity rates topped 6.44%, according to analysis of data from Google by Standard Life.”

Immediate vs Deferred Annuity: What’s The Difference?
22 Nov – John Egan – Forbes Advisor

“Annuities can be a great way to secure a steady source of retirement income. There are two approaches when it comes to annuity income payments: immediate and deferred.

With an immediate annuity—typically funded with one lump-sum payment—you start receiving income payments within 12 months of purchasing an annuity contract.”

Indexed products headline strong 3Q annuity sales, Wink reports
23 Nov – Staff – Insurance News Net

“Third-quarter sales of deferred annuities soared nearly 21% over the year-ago quarter, according to Wink’s Sales & Market Report. All deferred annuities include the variable annuity, structured annuity, indexed annuity, traditional fixed annuity, and MYGA product lines. Indexed products led the way, said Sheryl Moore, CEO of both Wink, Inc. and Moore Market Intelligence.”

What’s the Difference Between a Tax-Sheltered Annuity and a 401(k)?
23 Nov – Andrew J. Dehan – Yahoo!

“When it comes to saving for your retirement, you may have different options depending on where you’re employed. One of those options could be a tax-sheltered annuity (TSA). Here we’ll answer what tax-sheltered annuities are, how they work and how they differ from other common retirement savings plans, like a 401(k). Here’s what you need to know about tax-sheltered annuities and whether they’ll work for you. For more help, consider working with a financial advisor.”

Should the DOL Limit Annuity Sales Commissions?
23 Nov – Robert Bloink & William H. Byrnes – Think Advisor – opinion

“The Department of Labor (DOL) fiduciary standard that applies to financial advisors who offer investment advice and sell financial products to their clients has been changed multiple times in recent years under various administrations.”

Recent State Fiduciary and Best Interest Developments
23 Nov – Faegre Drinker Biddle & Reath LLP – JD Supra

“To date, 27 states have adopted rules that follow the Suitability in Annuity Transactions Model Regulation issued by the National Association of Insurance Commissioners (NAIC). Recent additions reflected in the following State Fiduciary and Best Interest Development chart include: Hawaii, Maryland, Minnesota, North Carolina, South Carolina, South Dakota and Wisconsin. Also, the chart reflects the Robinhood Financial v. Galvin decision by a Massachusetts Superior Court Judge declaring the Massachusetts fiduciary duty rule unlawful as well as a proposed rule issued by the Nevada Commissioner of Insurance imposing new requirements for training producers in connection with the recommendation of annuities.”

Monday Media Report

Monday Media Report

The NAFA Media Report features a summary of the previous week’s fixed annuity media coverage. NAFA welcomes your contributions and suggested additions.

Access the most current report »

The Call

The Call

The Call features timely and seasonal regulatory and legislative updates to help NAFA members stay on top of issues impacting their businesses. Both federal and state editions are distributed to keep you informed.

Access the most current update »

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