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 all things NAFA via our NAFAwire, visit our Press Room for the association’s most current news releases or to catch up on our Twitter feed.

Industry News

Annuity Basics: What Is A SPIA?
6 Jan. – David Rodeck – Forbes Advisor

“A single premium immediate annuity (SPIA) is one of the simplest types of annuity contracts. With a SPIA, you make a single large deposit with an annuity company and your monthly payments begin immediately. While SPIAs are easy to understand, buying them requires some foresight. You purchase a SPIA with a single lump sum, instead of making incremental payments over time as with some other types of annuities.

Tax Angle #12: Stretch Out An IRA With A Lifetime Annuity
9 Jan. – William Baldwin – Forbes

“A fixed annuity is a fixed-income asset, taking a place in a portfolio that might otherwise have been occupied by bonds. In our example the annuity could replace a collection of 20 zero-coupon bonds, each with a maturity value of $24,000 and due between when you’re 80 and you’re 99.”

Why Fixed Index Annuities Work Right Now
11 Jan. – D. Kroth – NASDAQ

“Their sales have surged lately. While volatility from COVID was a strong tailwind for fixed index annuity sales, the other big factor has to do with interest rates.”

More States Rush To Adopt Best Interest Annuity Sales Rules
11 Jan. – John Hilton – Insurance News Net

“The latest states to pursue the best-interest model law put forth by the National Association of Insurance Commissioners are Michigan, Arkansas, Maine and Nebraska.”

Iowa Begins Applying Best-Interest Regulations
12 Jan. – Allison Bell – Think Advisor

“Doug Ommen, Iowa’s insurance commissioner, says Iowa also will use the drafting notes included in the annuity suitability regulation update model, and a set of answers to frequently asked questions that an NAIC team is drafting.”

Single Premium Immediate Annuity: Is A SPIA Right For Your Retirement?
13 Jan. – David Rodeck – Forbes Advisor

“When you retire, one of the greatest challenges is making sure you don’t outlive your money. With a single premium immediate annuity (SPIA), you can turn some of your savings into a stream of guaranteed payments that can last for your entire life. This can make SPIAs valuable retirement tools, but they’re not perfect for everyone. Here’s how to decide if a SPIA is right for you and your retirement plan.”

89% of women failed retirement literacy quiz: Study
14 Jan. – Mary Beth Franklin – Investment News

“When it comes to retirement literacy, most Americans get a failing grade. According to newly released research by The American College of Financial Services, women fare worse than men, with 89% of female participants flunking a 38-question quiz, compared to 72% of men.”

Here Are the States With Best-Interest Rules for Annuities
14 Jan. – Melanie Waddell – Think Advisor

“The number of fiduciary and best-interest investment advice regulations continued to advance at both the federal and state levels in 2020.”

NAFA Welcomes 2021 Board of Directors
15 Jan. – NAFA

“Lauri Beck of Insurance Network America will assume the role of chairman of the board of directors, taking over for immediate past chair Chris Conroy of Insurance Agency Marketing Services, Inc. (IAMS). Heather Kane of EquiTrust Life Insurance Co. will roll up to vice chair and Mike Morrone of Nationwide to secretary, while Kevin Mechtley of North American Company was elected to join the executive operating committee as its newly appointed treasurer.”

Monday Media Report

Monday Media Report

The NAFA Media Report features a summary of the previous week’s fixed annuity media coverage as compiled by NAFA’s Director of Research, Dr. Jack Marrion. NAFA welcomes your contributions and suggested additions.

Access the most current report »

Monday Media Report

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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The new Administration issued a memo freezing certain #regulatoryactivity, pending review, including DOL’s PTE 2020-02. We anticipate a 30-day comment period where NAFA will continue to push for the protection of #fixedannuities & independent distribution.

As North Dakota evaluates adoption of the @naic's MDL 275 #bestinterest standard, NAFA joined fellow trades in issuing a joint coalition statement in support of ND House Bill 1160 in advance of today's hearing.

As NAFA seeks to drive continued engagement through innovation and #annuityleadership, we're pleased to welcome members from @delaware_life, @Annexus, @maureen65014574, @WesternSouthern, @TruchoiceFMO, @CannexTweets, @GoCreativeOne and @BrokersIntLtd to our board of directors.

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