This is especially true in the area of annuities. Folks purchase variable annuities based on the belief that the principal is protected and other guarantees. Often there is a wide gulf between what the investor thinks a product does and what it really ends up doing.
Making the Case to Buy an Annuity
Many investors approaching retirement think they have no need for annuities. But the lifetime-income guarantees offered by these insurance-company products can add security to portfolios that are mostly composed of stock and bond mutual funds. Read More....
Axa Concentrating on Variable Annuities
Axa annuities are handled by the Axa Wealth division of the firm, and while sales have increased 41% there have been organizational issues which have plagued the firm owing to the sale of its life insurance division. Therefore, and especially because Axa has launched a new series of variable-rate products called Secure Advantage, it has no plans to enter the fixed-rate segment of the pension annuities market. Read More....
MetLife sets up ‘massive opportunity’ in fixed term annuities
For MetLife UK managing director Dominic Grinstead, 2010 seemed like a long year and he is now looking forward to the company’s first foray into the fixed term annuity market, It took six months for MetLife to complete its acquisition of Alico, which expanded its reach to 60 countries. The deal has allowed MetLife to realise its long-held ambition to offer a fixed term annuity as a result of the link between Alico and specialist annuity provider Living Time. Alico had underwritten Living Time’s product for four years, and MetLife has signed a deal to distribute the product. Read More....
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