Fixed Annuity Sales, Trends and Implications
|
|
|
- Jeremy Holt
- 10 years ago
- Views:
Transcription
1 Fixed Annuity Sales, Trends and Implications Presentation For: NAFA 2011 Annuity Solutions Expo Judith Alexander, Director of Sales and Marketing, Beacon Research Tim Hill, Consulting Actuary + Principal, Milliman, Inc. Doug Price, Senior Vice President, Sales and Marketing, Zenith Marketing Group
2 The Big Picture Estimated Overall Fixed Annuity Sales: (dollar in billions) Source: Beacon Research Fixed Annuity Premium Study
3 The Big Picture Estimated Total FA Sales vs. S&P 500: (correlation coefficient = -.79) (S&P 500) (dollar in billions) Q Q Q Q Q Q Q Q Q Q Q Q S&P 500 Sales Source: Beacon Research Fixed Annuity Premium Study
4 The Big Picture Estimated Total FA Sales vs. Treasury Yield Curve (10-Year minus 1-Year): (correlation coefficient =.33) 14,000,000 12,000, % 3.500% 3.000% (dollar in thousands) 10,000,000 8,000,000 6,000,000 4,000,000 2,000, % 2.000% 1.500% 1.000% 0.500% 0.000% % % January-03 April-03 July-03 October-03 January-04 April-04 July-04 October-04 January-05 April-05 July-05 October-05 January-06 April-06 July-06 October-06 January-07 April-07 July-07 October-07 January-08 April-08 July-08 October-08 January-09 April-09 July-09 October-09 January-10 April-10 July-10 October-10 Treasury Yield Curve Estimated Sales Source: Beacon Research Fixed Annuity Premium Study ;
5 The Big Picture Estimated Total FA Sales vs. 5-Year MYG Average Credited Rate: (correlation coefficient =.25) (dollar in thousands) 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000, % 4.50% 4.00% 3.50% 3.00% 2.50% 2.00% 1.50% 1.00% 0.50% 0.00% Estimated Sales 5 Year CD Type FA Average Credited Rate Source: Beacon Research Fixed Annuity Premium Study ; Beacon Research Fixed Annuity Index: Average Benchmark Series
6 The Big Picture Estimated Total FA Sales vs: 5-Year Credited/Treasury Rate Spread: (correlation coefficient =.74) 14,000, % (dollar in thousands) 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000, % 1.5% 0.5% -0.5% 0-1.5% Estimated Sales Average 5 Year Credited Rate less 5 Year Treasury Source: Beacon Research Fixed Annuity Premium Study ; Beacon Research Fixed Annuity Index: Average Benchmark Series
7 Estimated Total Fixed Annuity Sales by Quarter, (dollar in billions) Q Q Q Q Q Q Q Q Q Q Q Q Source: Beacon Research Fixed Annuity Premium Study
8 First, the Bad News: Fixed Rate Annuities MVA and non-mva Sales: ,000,000 (dollar in thousands) 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 Reasons for steep decline. Rate disadvantage. Rate expectations. Fewer exchanges into new contracts. Company decisions non-mva MVA Source: Beacon Research Fixed Annuity Premium Study
9 Better News: Income Annuities Estimated Income Annuity Sales: (dollar in thousands) 10,000,000 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 Reasons for small increase Good PR. Demand (somewhat) independent of rates. Retirement income plan component. Use to fund LI + LTC. More bank/b-d distribution. 1,000, Source: Beacon Research Fixed Annuity Premium Study
10 Good News: Fixed Indexed Annuities Estimated Indexed Annuity Sales: (dollar in thousands) 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000, ,000 0 Reasons for record-high sales Premium bonuses + GLWBs (enable/justify exchanges). Downside protection. Gradually growing 2010 interest in upside (tracks mutual fund net flows). Indexes are popular. Less rate competition. Increased distribution? Source: Beacon Research Fixed Annuity Premium Study
11 Channel Market Share Tracks Sales by Product Type Fixed Annuity Market Share by Distribution Channel: % 50.0% 40.0% 30.0% 20.0% 10.0% Captive Agents Independent Producers Wirehouses Large/regional B-Ds Independent B-Ds Banks & S&Ls Other 0.0% Source: Beacon Research Fixed Annuity Premium Study
12 Q1 11 Results - Preliminary Amount (in $ billions) vs Q1 10 vs Q4 10 FIA $7.1 0% -15% Fixed Rate Non-MVA $ % +42% Fixed Rate MVA $1.4 +7% +7% Income (SPIA + DIA) $1.8 +1% -7% Total $ % +7%
13 Outlook Challenges Suitability regs (training) trimmed product lines Suitability regs + reserve requirements costs less competitive rates Source of funds regs Tough rate environment Opportunities Suitability regs public confidence Trend financial planning Partial annuitization Demand for conservative assets
14 ABOUT BEACON RESEARCH Helps IMOs, banks,tpms & B-Ds sell annuities, support monitor sales & minimize compliance risk Tracks fixed, indexed & variable annuity features, rates & sales Works with 100+ annuity issuers and distributors Independent research company/asp founded in 1997
15 Trends in Indexed Annuities Significant yield pick-up going from 5-yr to 10-yr duration Continued emphasis on GLWB Number of new GMDB features coming to market Proprietary products Continued trend toward 10 and 10 compliant products InterState Compact Alternative indices LTC combination products Significant interest from Broker/Dealer market Bank channel has show some interest Pressure from structured product 1
Understanding Fixed Indexed Annuities
Fact Sheet for Consumers: Understanding Fixed Indexed Annuities PRESENTED BY Insured Retirement Institute Fact Sheet for Consumers: Understanding Fixed Indexed Annuities Put simply, a Fixed Indexed Annuity
Income Annuities: Market Opportunities & Product Trends
Income Annuities: Market Opportunities & Product Trends Atlanta Actuarial Club John Fenton David Beasley December 3, 2009 2009 Towers Perrin Overview of presentation Sizing the retirement market Product
INCOME VALUE: An industry solution to assessing the fair market value of Income Annuities. Frequently Asked Questions and Answers
INCOME VALUE: An industry solution to assessing the fair market value of Income Annuities Q&A Frequently Asked Questions and Answers Section 1: What is it? What is INCOME VALUE? INCOME VALUE is the fair
The Truth About Fixed Indexed Annuities
The Truth About Fixed Indexed Annuities Index annuities were first introduced in the United States nearly two decades ago. They were initially created as an alternative to mutual funds and variable annuities,
Deferred Income Annuity (DIA)
Deferred Income Annuity (DIA) Actuaries Club of Hartford/Springfield Hartford, Connecticut May 21, 2014 Presented by: Jennifer Healy CRN201412-182563 Agenda Defining DIA The Product The Fit Why Now? The
Annuity Market Trends and Opportunities
Annuity Market Trends and Opportunities Joseph Montminy Assistant Vice President, LIMRA Chris Raham Senior Actuarial Advisor, Ernst & Young This publication is a benefit of LIMRA membership. No part may
Important Information about your Annuity
Robert W. Baird & Co. Incorporated Important Information about your Annuity Annuities are long-term investments that may help you meet or supplement your retirement and other long-term goals. Annuities
THE SECURITY BENEFIT FOUNDATIONS ANNUITY
THE SECURITY BENEFIT FOUNDATIONS ANNUITY The Security Benefit Foundations Annuity Retirement. It s a big step and one you ve spent your whole career saving for and building on. As you enter retirement,
FIXED INDEXED ANNUITIES: RECAP AND WHAT S NEXT?
Consulting Actuaries MAY 2014 FIXED INDEXED ANNUITIES: RECAP AND WHAT S NEXT? AUTHOR Guillaume Briere-Giroux FSA, MAAA, CFA Growing sales and a flurry of M&A deals have put a brightening spotlight on fixed
S&P 2012 Variable Annuity & Life Insurance Summit October 9, 2012
S&P 2012 Variable Annuity & Life Insurance Summit October 9, 2012 Robert A. Kerzner, CLU, ChFC President and Chief Executive Officer LIMRA, LOMA & LL Global, Inc. Opportunities Negative Disruptors Demographics
Variable Annuity Guaranteed Living Benefits Utilization
Variable Annuity Guaranteed Living Benefits Utilization 2011 EXPERIENCE A Joint Study Sponsored by the Society of Actuaries and LIMRA A 2013 REPORT Variable Annuity Guaranteed Living Benefits Utilization
Life 2008 Spring Meeting June 16-18, 2008. Session 75, Selling Annuities through IMOs. Moderator Ghalid Bagus, FSA, FIA, MAAA
Life 2008 Spring Meeting June 16-18, 2008 Session 75, Selling Annuities through IMOs Moderator Ghalid Bagus, FSA, FIA, MAAA Authors Ghalid Bagus, FSA, FIA, MAAA Christopher L. Conklin, FSA, MAAA Yan Fridman,
Session 106 PD, Annuity Hot Topics Moderator: Dean Andrew Kerr, FSA, ACIA, MAAA
Session 106 PD, Annuity Hot Topics Moderator: Dean Andrew Kerr, FSA, ACIA, MAAA Presenters: Meghan Belinski, FSA Dean Andrew Kerr, FSA, ACIA, MAAA Timothy C. Pfeifer, FSA, MAAA ANNUITY HOT TOPICS 106PD
How Will I Get Income from My Annuity?
FACTS ABOUT ANNUITIES How Will I Get Income from My Annuity? JUNE 2014 Annuity product innovations offer a variety of ways to receive guaranteed income, including through withdrawal benefits, income riders
Athene Annuity (DE) Rates
January 29, 2015 Athene Annuity (DE) s Athene Benefit 10 SM, Athene Choice, Athene Max and Athene 7 MYG SM rates will remain unchanged for the Athene Annuity (DE) product series. Guaranteed payout rates
Designing a Monthly Paycheck for Retirement MANAGING RETIREMENT DECISIONS SERIES
Designing a Monthly Paycheck for Retirement MANAGING RETIREMENT DECISIONS SERIES WHERE S MY PAYCHECK? That is a common question for new retirees and near-retirees when they start mapping out the retirement
Product Profile. Product Profile. Bonus Gold 10% Premium Bonus. Retirement Gold 8% Premium Bonus 6. Issue Age. Surrender Charges
Profile Profile Interest Effective: 09/24/15 Bonus 10% Bonus Bonus on all 1st year s. Retirement 8% Bonus 6 Bonus on all 1st year s. Interest S&P 500 Annual Monthly Avg w/ PR - 30% - - S&P 500 Annual Monthly
Fixed Index Annuities
Fixed Index Annuities I Annuities Sales Tool Series Fixed Index Annuities Innovative Retirement Planning Alternative 143731 11/26/12 For Producer/Agent Information Only. Not to be Reproduced or Shown to
Prudent Risk Management of Variable Annuities in the US. Senior Vice President and Actuary Prudential Annuities
Prudent Risk Management of Variable Annuities in the US Bryan Pinsky Bryan Pinsky Senior Vice President and Actuary Prudential Annuities Agenda 1. US VA market overview 2. Risks associated with living
Life and Annuity Market Update
Life and Annuity Market Update Southeastern Actuaries Club John Fenton, FSA, MAAA November 2014 OVERVIEW Overview of presentation U.S. Annuity Market Sales trends Key issues Products U.S. Life Market Sales
Strategies for Turning Retirement Savings Into Retirement Income
Private Wealth Management Products & Services Strategies for Turning Retirement Savings Into Retirement Income How to move from accumulating assets to utilizing them Retirement Income Planning is more
Annuity Market Update
Annuity Market Update Southeastern Actuaries Conference (SEAC) Fall Meeting Guillaume Briere-Giroux, FSA, MAAA, CFA November 15, 2012 AGENDA Agenda Sales trends Product trends Pricing and risk management
Equity-based Insurance Guarantees Conference October 27-28, 2008. Pricing EAI Guarantees. Moderator Dr. K. (Ravi) Ravindran
Equity-based Insurance Guarantees Conference October 27-28, 2008 Pricing EAI Guarantees Noel Abkemeier, Eric Petersen Moderator Dr. K. (Ravi) Ravindran Equity Indexed Annuity Pricing Eric Petersen, F.S.A.
May 1, 2015 as amended June 1, 2015
INSTITUTIONAL INVESTOR May 1, 2015 as amended June 1, 2015 DATE TARGET FUNDS MyDestination 2005 Fund MyDestination 2015 Fund MyDestination 2025 Fund MyDestination 2035 Fund MyDestination 2045 Fund MyDestination
DEFERRED ANNUITY PERSISTENCY
A 2006 Report DEFERRED ANNUITY PERSISTENCY FULL REPORT Matthew Drinkwater, Ph.D., FLMI, PCS Retirement Research 860-285-7743 [email protected] 2006, LIMRA International, Inc. 300 Day Hill Road, Windsor,
Guide to buying annuities
Guide to buying annuities Summary of the key points contained in this disclosure document Before you purchase your annuity contract, make sure that you read and understand this guide. While reading this
SDBA Investment Options
October 2013 FRS Offers a New Way to Invest: Self-Directed Brokerage Accounts...1 Quarterly Fund Performance Summary...2 Proposed Investment Fund Changes Seek Greater Returns...5 The Investment Plan TIPS
Required Yield: The Pre-Retiree s Cost-of-Waiting Metric When Purchasing Guaranteed Lifetime Income. Introduction. Options for Guaranteed Income
Required Yield: The Pre-Retiree s Cost-of-Waiting Metric When Purchasing Guaranteed Lifetime Income Capturing yield has become difficult with most fixed income vehicles offering returns impacted negatively
Protect your financial future: Your income, your family, your lifestyle. PHOENIX PERSONAL PROTECTION CHOICE SM
Protect your financial future: Your income, your family, your lifestyle. PHOENIX PERSONAL PROTECTION CHOICE SM A single-premium fixed indexed annuity with flexibility to address multiple needs Investment
A Powerful Combination for Retirement
Power Select Plus Income Index Annuity A Powerful Combination for Retirement Principal Protection. Growth Potential. Lifetime Income. Plus, the Opportunity to Guarantee Rising Income for Up to 10 Contract
MEMBERS Index Annuity
MEMBERS Index Annuity GUARANTEES, WITH FLEXIBILITY AND UPSIDE POTENTIAL Move confidently into the future 07-0002 REV 09MHC A financial services company serving financial institutions and their clients
13930Z-42 REV 05-11 GUARANTEED MINIMUM DEATH BENEFIT RIDER 14923Z PRT 06-11
13930Z-42 REV 05-11 GUARANTEED MINIMUM DEATH BENEFIT RIDER 14923Z PRT 06-11 ENHANCE YOUR DEATH BENEFIT WITH AN OPTIONAL RIDER ADDED TO YOUR FIXED INDEX ANNUITY In addition to your retirement planning goals,
Basic Facts about Variable Annuities
Basic Facts about Variable Annuities Variable annuities are long-term investment vehicles that provide a unique combination of insurance and investment features. Fundamentally, a variable annuity is an
Unbundling Insurance Contracts
IASB/FASB meeting 16 February 2011 Agenda paper 3J UFS Unbundling Insurance Contracts Leonard Reback February 16, 2011 Overview Potential benefits and costs from unbundling Single Premium Immediate Annuity
Session 74 PD, Indexed Product Update. Moderator: Robert P. Stone, FSA, MAAA
Session 74 PD, Indexed Product Update Moderator: Robert P. Stone, FSA, MAAA Presenters: Guillaume Briere-Giroux, FSA, MAAA Robert P. Stone, FSA, MAAA Fixed Indexed Annuity Market Update 2014 Life and Annuity
Excerpts from IRI Annuity Fact Book Variable Annuity 101 An annuity is often viewed as life insurance in reverse. Whereas life insurance protects an individual against premature death, an annuity protects
How To Become A Life Insurance Agent
Traditional, investment, and risk management actuaries in the life insurance industry Presentation at California Actuarial Student Conference University of California, Santa Barbara April 4, 2015 Frank
NAIC Buyer s Guide for Deferred Annuities
NAIC Buyer s Guide for Deferred Annuities Prepared by the National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association of state insurance regulatory
Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor. October, 2008
Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor October, 2008 1 Market Ups and Downs Recent news is full of anxiety-causing developments: Credit crunch Bank
Retirement Balanced Fund
SUMMARY PROSPECTUS TRRIX October 1, 2015 T. Rowe Price Retirement Balanced Fund A fund designed for retired investors seeking capital growth and income through investments in a combination of T. Rowe Price
How To Understand The Annuity Market
The Changing Individual Annuity Market Joseph Montminy Assistant Vice President, LIMRA This publication is a benefit of LIMRA membership. No part may be shared with other organizations or reproduced in
L-18534C For Broker/Dealer Use Only 08/02
Getting Past Today s Headlines The Emotional Yield Curve Wow, am I Smart. Excitement Thrill Optimism Point of Maximum Financial Risk Euphoria Anxiety Denial Fear Temporary set back - I m m a long-term
Product Training for Annuity Agents
Product Training for Annuity Agents The information contained herein is solely for the purpose of providing our producers general information pertaining to our annuity products. None of this information
Buyer s Guide for Deferred Annuities. Table of Contents
Buyer s Guide for Deferred Annuities Table of Contents What Is an Annuity?... 1 When Annuities Start to Make Income Payments... 1 How Deferred Annuities Are Alike... 1 How Deferred Annuities Are Different...
RISKS IN MUTUAL FUND INVESTMENTS
RISKS IN MUTUAL FUND INVESTMENTS Classification of Investors Investors can be classified based on their Risk Tolerance Levels : Low Risk Tolerance Moderate Risk Tolerance High Risk Tolerance Fund Classification
Click Here to view the flier or order it from the Lincoln Fulfillment Center. Order code: FA-NDBK-FLI001
Vol. 9, Issue 4, April 20, 2015 Fixed Annuity Revisit Lincoln New Directions Fixed Indexed Annuity for Wealth Preservation and Growth Protection Lincoln New Directions fixed indexed annuity offers a stable
Understanding Annuities
Retirement Planning Understanding Annuities Learn how these versatile investments can be part of your strategy for retirement savings and income. understanding annuities Annuities can help provide the
Financial Engineering g and Actuarial Science In the Life Insurance Industry
Financial Engineering g and Actuarial Science In the Life Insurance Industry Presentation at USC October 31, 2013 Frank Zhang, CFA, FRM, FSA, MSCF, PRM Vice President, Risk Management Pacific Life Insurance
Variable annuities. A tax-advantaged way to save for retirement
Variable annuities A tax-advantaged way to save for retirement Common terms Annuitant The person (may be the same as the contract owner) whose life expectancy is used to calculate the income payment amount
Fixed annuity sales sagged along with interest rates last year, but some specialty products enjoyed record inflows.
Nice Niche Fixed annuity sales sagged along with interest rates last year, but some specialty products enjoyed record inflows. By Donald Jay Korn May 1, 2011 Safe savings vehicles were a tough sell in
Making Your Money Last
U.S. INVESTMENT POLICY GUIDANCE REPORT Making Your Money Last Everyone has individual retirement goals, but we all have one in common: ensuring our money lasts throughout retirement. Even a well-designed
AXA EQUITABLE VARIABLE ANNUITY GUARANTEED BENEFITS DYNAMIC HEDGING CONSIDERATIONS
AXA EQUITABLE VARIABLE ANNUITY GUARANTEED BENEFITS DYNAMIC HEDGING CONSIDERATIONS STAN TULIN VICE CHAIRMAN AND CHIEF FINANCIAL OFFICER AXA FINANCIAL MARCH 21, 2005 Cautionary Statements Concerning Forward-looking
Risk Control and Equity Upside: The Merits of Convertible Bonds for an Insurance Portfolio
Risk Control and Equity Upside: The Merits of Convertible Bonds for an Insurance Portfolio In a survey of insurance company Chief Investment Officers conducted by Eager, Davis & Holmes 1 in May 2009, 43%
Make a note of the disclaimer on the bottom of the slide it may come in to play as you are prospecting for clients.
This is an introduction to the benefits of selling annuities. If you are an experienced annuity seller, then this class may not be the one for you. If you are not used to selling annuities, hang on and
Pricing Variable Annuity With Embedded Guarantees. - a case study. David Wang, FSA, MAAA May 21, 2008 at ASHK
Pricing Variable Annuity With Embedded Guarantees - a case study David Wang, FSA, MAAA May 21, 2008 at ASHK Set The Stage Peter is the pricing actuary of company LifeGoesOn and LifeGoesOn wishes to launch
ANNUITY PRODUCTS TRAINING COURSE
ANNUITY PRODUCTS TRAINING COURSE Single Premium Immediate Annuity The Sagicor Gold Series Single Premium Immediate Annuity (SPIA) turns a single lump-sum deposit into a reliable and consistent income stream.
Glossary: The Language of Variable Annuities
Glossary: The Language of Variable Annuities Glossary: The Language of Variable Annuities A variable annuity (VA) is a long-term, tax-deferred investment designed to help investors save for retirement.
options and the Financial Advisor www.optionseducation.org
options and the Financial Advisor www.optionseducation.org Key Findings 2 How often and Why Advisors are using options 3 why options use is on the rise 8 why you need to offer options 10 Differences in
Understanding Annuities
Annuities, 06 5/4/05 12:43 PM Page 1 Important Information about Variable Annuities Variable annuities are offered by prospectus, which you can obtain from your financial professional or the insurance
CALVERT UNCONSTRAINED BOND FUND A More Expansive Approach to Fixed-Income Investing
CALVERT UNCONSTRAINED BOND FUND A More Expansive Approach to Fixed-Income Investing A Challenging Environment for Investors MOVING BEYOND TRADITIONAL FIXED-INCOME INVESTING ALONE For many advisors and
SOA 2013 Life & Annuity Symposium May 6-7, 2013. Session 28 PD, Life Protection Product Update. Moderator: Robert P.
SOA 2013 Life & Annuity Symposium May 6-7, 2013 Session 28 PD, Life Protection Product Update Moderator: Robert P. Stone, FSA, MAAA Presenters: Jeremy Allen Bill, FSA, MAAA Elizabeth H. MacGowan, FSA,
Explorer. Client Guide. A Deferred Fixed Annuity for a Confident Retirement 60002-11A 9/11
Explorer A Deferred Fixed Annuity for a Confident Retirement 60002-11A 9/11 Client Guide The Power to Help You Succeed Pacific Life has more than 140 years of experience, and we remain committed to providing
PRODUCT COMPARISON GUIDE
Index Annuities PRODUCT COMPARISON GUIDE Power 10 SM Protector Power 10 Protector Plus SM Income Issued By American General Life Insurance Company SM Power 10 Protector Description Issue age Premium Premium
Guide to buying annuities
Guide to buying annuities Summary of the key points contained in this disclosure document Before you purchase your annuity contract, make sure that you read and understand this guide. While reading this
Why Consider Bank Loan Investing?
Why Consider Bank Loan Investing? September 2012 Bank loans continue to increase in popularity among a variety of investors in search of higher yield potential than other types of bonds, with lower relative
The Individual Annuity
The Individual Annuity a re s o u rc e i n yo u r r e t i r e m e n t an age of Decision Retirement today requires more planning than for previous generations. Americans are living longer many will live
Protect Tomorrow. Embrace Today.TM
Protect Tomorrow. Embrace Today.TM Protective Fixed Annuities At a Glance PABD.4762 (06.12) The Strength of Our Promise For more than 100 years, our mission has remained boldly alive in our name. We are
ATHENE Benefit 10 SM Fixed Index Annuity with Enhanced Benefit Rider. Issued by Athene Annuity & Life Assurance Company AN1109 (7-13)
ATHENE Benefit 10 SM Fixed Index Annuity with Enhanced Benefit Rider Issued by Athene Annuity & Life Assurance Company AN1109 (7-13) ATHENE Benefit 10 Fixed Index Annuity with Enhanced Benefit Rider A
GROW more assets for retirement with interest crediting strategies that are based in part on the performance of the S&P 500 (excluding dividends).
SM Power Index Plus Annuity with Lifetime SM Income Plus PRODUCT HIGHLIGHTS Help Clients Secure More Retirement Income For Life To help your clients with their retirement goals, it s important to consider
Secure Income Annuity Statement of Understanding
Security Benefit Secure Income Annuity Statement of Understanding Effective Date: June 16, 2014 Must be signed by the customer and agent and the signature page returned to Security Benefi t with the application.
Buyer s Guide for Deferred Annuities Fixed. Table of Contents
Buyer s Guide for Deferred Annuities Fixed Table of Contents What Is an Annuity?...2 When Annuities Start to Make Income Payments... 2 How Deferred Annuities Are Alike... 2 How Deferred Annuities Are Different...
DETERMINING THE ACTUARIAL PRESENT VALUE OF CERTAIN ADDITIONAL BENEFITS UNDER TREAS. REG. SECTION 1.401(a)(9)-6, Q&A-12
June 30, 2005 DETERMINING THE ACTUARIAL PRESENT VALUE OF CERTAIN ADDITIONAL BENEFITS UNDER TREAS. REG. SECTION 1.401(a)(9)-6, Q&A-12 I. Introduction Section 401(a)(9) of the Internal Revenue Code (the
Buyer s Guide for. Deferred Annuities
Buyer s Guide for Deferred Annuities Prepared by the NAIC National Association of Insurance Commissioners The National Association of Insurance Commissioners is an association of state insurance regulatory
EXECUTIVE SUMMARY. Equity-Indexed Annuities: Fundamental Concepts and Issues. Equity-Indexed Annuity Product Design
EXECUTIVE SUMMARY Equity-Indexed Annuities: Fundamental Concepts and Issues October 2006 Paper by Bruce A. Palmer, Ph.D. Georgia State University Summary by Steven N. Weisbart, Ph.D., CLU This paper is
Consumer Loan Receivables. Greg Nelson President Aileron Capital Inc. October 27, 2013
Consumer Loan Receivables are an Ideal Asset Greg Nelson President Aileron Capital Inc. October 27, 2013 Disclaimer The material contained herein is for information purposes only and does not constitute