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

The Case for Fixed Indexed Annuities
7 Dec – Jim Poolman – Think Advisor

“A smart retirement portfolio includes a mix of products and investments that work together to create a steady stream of income during your clients’ golden years. One product that should be part of any financial professional’s toolbox is the fixed indexed annuity (FIA), which can provide guaranteed income during retirement.”

Small Insurer: Avoiding Hard Annuity Math May Be Too Difficult
9 Dec – Allison Bell – Think Advisor

“New draft rules could hurt small fixed annuity issuers that want to stick with traditional reserving methods, according to Waylon Peoples. Peoples, vice president, life actuarial, with Erie Family Life, says the National Association of Insurance Commissioners has promised to free small, strong life and annuity issuers from having to use the complicated principles-based reserving (PBR) approach.”

Capped vs. Uncapped Indexed Annuity Strategies
14 Dec. 2021 – Allison Bell – Think Advisor

“Some financial professionals may eat, drink and breathe annuity contract provisions. They know everything about every annuity contract feature since the Egyptians developed hieroglyphics. Some other people in and around the world of annuities, such as new agents, or people in support services roles, may just be trying to keep their heads down and not get into trouble.”

Comparing Fixed-Rate Annuities to Bank CDs
16 Dec. 2021 – Ken Nuss – The Street

“Fixed-rate annuities act much like bank certificates of deposit but usually pay much higher rates than CDs of the same term. How can insurers afford to do that? After all, both banks and insurers pay a set rate. Before we answer that question, let’s cover the basics of how each works.”

Why Fixed Annuities?
21 Dec – Paul Garofoli – Think Advisor

“Clients who have attempted their own research on individual annuities may have encountered conflicting and sometimes negative information. With so much confusion surrounding annuities and the contrasts between differing types, it can be difficult to help clients understand whether they are the right addition to their retirement portfolio. However, with a little context and explanation, individual annuities can be demystified, and clients can make more informed decisions.”

Top 10 Annuity Stories Of 2021
27 Dec – John Hilton – Insurance News Net

“Annuities went through a difficult year in 2020 and it was reflected in the news coverage. The pandemic effects, combined with the persistent low-interest-rate environment and ever-changing regulatory landscape, made annuity sales a difficult proposition for many. The good news is the need remained strong among Americans who received a lesson in the value of financial protection during the COVID-19 downturn.”

ACLI: Pennsylvania Passes Annuity Sales Rules
27 Dec – Press Release – Insurance News Net

“”Governor Wolf and Pennsylvania’s elected leaders have advanced important protections that enhance the standards financial professionals must follow while ensuring that individual savers maintain access to, and information about, annuities, the only financial product in the marketplace that can provide guaranteed lifetime income,” said Insurance Federation of Pennsylvania CEO Sam Marshall. “This is a huge victory for Pennsylvania savers.””

Donald Rumsfeld Would Have Made A Great Annuity Advisor
1 Jan – John Rafferty – Insurance News Net

““Former Secretary of Defense Donald Rumsfeld was nothing if not provocative in his press conferences. Twenty years ago, during the buildup to the Iraq war and the premise of Saddam Hussein’s regime harboring weapons of mass destruction, he addressed the news media in a 2002 press conference. “As we know, there are known knowns. There are things we know we know. We also know there are known unknowns. That is to say, we know there are some things we do not know. But there are also unknown unknowns — the ones we don’t know we don’t know.” When it comes to retirement income planning, it is good to be aware of each of these conditions and to plan accordingly.””

5 Things you Need to Know about Annuities and Long-Term Care
4 Jan – Jordan Bishop – Entrepreneur

“One of the major demographic changes happening in most developed countries is the aging of the population. Thanks to better medical infrastructure, new and more effective medical treatments and overall better quality of life, US citizens today are able to outlive people from other less developed countries. This has had a big impact on the way we prepare for retirement since it increases the time we need our savings to last. Additionally, it increases the chances that, in the end, we’ll need some sort of long-term care (LTC) such as help bathing, walking or going to the bathroom.”

Pennsylvania Adopts NAIC Annuity Suitability Update
4 Jan – Allison Bell – Think Advisor

“Pennsylvania has given a big boost to efforts by the National Association of Insurance Commissioners to support the SEC’s Regulation Best Interest financial services sales standards.”

You Need an Annuity—No Matter How Old You Happen to Be
5 Jan – John Rampton – Entrepreneur

“Buying annuities is one way to guarantee that one will have enough money when they retire. And, when you think about it, there aren’t that many products that can make such a claim.”

2022: The Year Consumers Discover Annuities
5 Jan – Harry N. Stout – Think Advisor

“Have you ever experienced the solution to a problem being in plain sight, only to pass over it? The time for consumers to notice the obvious is coming for annuity products in 2022.

This will be the year that consumers proactively seek information and advice to explore the solutions that annuity products can provide, to address some of their financial challenges. The stars are fully in alignment, and a number of forces are driving increased interest in 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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On this #MLKDay, watch our exclusive webinar filled with #annuityleadership from our experts as they examine the need for educating, engaging and enhancing cultural relations in the fixed annuity industry and embracing #diversity, #equity and #inclusion.

On Feb. 1, 2022, @USDOL's #fiduciaryrule 3.0 is set to take effect. Are you and your #annuity professionals prepared to comply? NAFA's newest guide offers a summary of the exemptions available and information on #bestpractices for navigating requirements.

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