The non-FINRA annuity market has been deeply affected by the protracted low interest rate environment and the new regulatory reserving protocols implemented with the advent of AG 38. While SPIA interest rate crediting remains low, a new resurgence in the mortality credits has many potential annuity purchasers delaying until age 70 to trigger lifetime benefits. Among this same thinking are lifetime income riders with indexed annuities and some fixed annuities. It seems like the entire insurance industry is returning to the original premise for purchasing annuities — and that is for income. Steve and Eric separate the current contenders from past pretenders in their final four
annuity review for 2013.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Steve Savant is the host of the daily producer show, Let’s Get Down to Business, and the weekly consumer show, Steve Savant’s Money, the Name of the Game. Steve is the number one online author and videographer of insurance content. During his 30-year career in the financial services industry,... More
Steve Savant recently shared that #1 consumer request of advisers is help with debt reduction. But most advisers don’t offer debt reduction services. Debt reduction frees up cash flow for monthly savings in annuities & life insurance.