The total number of assets placed into variable annuities met their all time high during the year of 2010, accounting for $1.5 trillion. The fourth quarter of 2010 showed an improvement of sales in the industry, growing by a total of 18 percent in comparison with the fourth quarter of 2009. This means that...
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Genworth Financial Inc has announced that it will no longer be selling either retail or group variable annuities. Genworth variable annuities will not be available for purchase. Genworth, Richmond, Va, will also suspend its sale of combination annuities which are currently linked with insurance for long term care. The company said that the suspension...
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Annuities sold by banks had slow but steady growth throughout November, largely due to sales of variable annuities rather than any of the other types. Despite this, the value of fixed annuities continued to drop. Regardless, the total value of annuities increased for the month. Throughout November, a total of 2.6 billion dollars of...
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MetLife, Inc., which is a top worldwide provider of insurance, annuities and benefit programs, and Fidelity Investments Inc, which is one of the world’s foremost providers of financial and retirement products and services, announced that already projected strong sales for the MetLife Growth and Guaranteed Income (abbreviated as “MGGI”) variable annuities package totaled over...
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Recently, Western & Southern Financial Group, most commonly referred to simply as Western & Southern, announced that there member companies will be marketing a new type of financial product, something which they have gained a reputation for. This product will be referred to as VAROOM. The acronym stands for Variable Annuity for Roll Over...
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Recently, Western & Southern Financial Group, most commonly referred to simply as Western & Southern, announced that there member companies will be marketing a new type of financial product, something which they have gained a reputation for. This product will be referred to as VAROOM. The acronym stands for Variable Annuity for Roll Over...
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It seems that the insurance industry is not fond of the name “equity indexed annuities.” They dislike it so much that they are gathering two hundred thousand signatures to get the name changed, including signatures from every CEO involved in the business. If the change goes through, it could end up costing costumers quite...
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Buying an annuity has become a widespread option as investors and retirees search for guaranteed returns in a volatile market. And annuity salesmen have been more than happy to capitalize on this sentiment. However, there are downsides to annuities that are important to consider before purchasing this investment. FEES & EXPENSES Annuities have long...
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Roughly nine out of every ten independent financial advisers expects the demand for conventional annuities to drop. They believe that this will trigger an increase in demand for alternative annuities. These conclusions are drawn in a climate where the annuity prices are sinking. According to the MGM Advantage Annuity Index, rates have fallen by...
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In some cases, an insurance company can have trouble convincing financial advisers that a variable annuity is a good choice for their clients to invest in. Jefferson National, the first company to offer a flat fee variable annuity (VA), believes that it will earn more success by joining forces with Pershing LLC. Pershing LLC...
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