Annuity and Life Insurance Product Update - Q4 2013

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This presentation reviews the new product releases from the annuity carriers and life insurers we cover in our Annuity Monitor and Life Insurance Monitor research services.

Inside, we review the new products introduced in the fourth quarter of 2013.

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Annuity and Life Insurance Product Update - Q4 2013

  1. 1. ANNUITY AND LIFE INSURANCE PRODUCT UPDATE FOURTH QUARTER 2013 AUTHOR: JOSE MIGUEL SANTANA PUBLISHED: JANUARY 2014 COPYRIGHT 2014 CORPORATE INSIGHT, INC.
  2. 2. TABLE OF CONTENTS  Introduction  Annuity o Allianz Life: Index Advantage o Allianz Life: Core Income 7 o Allianz Life: Signature 7 o AXA Equitable: Investment Edge o Pacific Life: Income Advantage o Transamerica: O-Share  Life Insurance o Nationwide: YourLife Guaranteed Level Term o Nationwide: YourLife CareMatters o The Principal: Indexed Universal Life Flex  Corporate Insight Thought Leadership  About Corporate Insight  About the Author 2
  3. 3. INTRODUCTION INTRODUCTION 3
  4. 4. BACKGROUND This presentation reviews the new product releases from the annuity carriers and life insurers we cover in our Annuity Monitor and Life Insurance Monitor research services. INTRODUCTION Inside, we review the new products introduced in the fourth quarter of 2013. 4
  5. 5. FIRMS COVERED Below is a list of the firms we track on a daily basis for our Annuity Monitor and Life Insurance Monitor research services: Annuity Monitor Life Insurance Monitor o Allianz Life o MetLife o AXA Equitable o Nationwide o Aviva o Nationwide o o New York Life o AXA Equitable o New York Life Genworth Financial o o Fidelity o Pacific Life Northwestern Mutual o ING o The Principal o Jackson National o Prudential o INTRODUCTION o John Hancock o Lincoln Financial o MassMutual o John Hancock o Liberty Mutual o Pacific Life o Lincoln Financial o Principal Financial TIAA-CREF o MassMutual o Prudential o Transamerica o MetLife o USAA o VALIC o Vanguard 5
  6. 6. ANNUITY PRODUCT UPDATE 6
  7. 7. ALLIANZ LIFE: ALLIANZ INDEX ADVANTAGE  Rolled out in late September, the new variable annuity offers clients the opportunity to capture growth based on the performance of the S&P 500, the Russell 2000 or the Nasdaq 100. ANNUITIES  Includes a death benefit, three variable options and two innovative index strategies, both of which protect against negative index performance and limit how much investors can receive based on index performance. Allianz Life Public Website Promotional Image 7
  8. 8. ALLIANZ LIFE: CORE INCOME 7  The firm’s first fixed indexed annuity produced to appeal to the broker/dealer channel.  Guarantees principal and credited interest against loss due to market downturns. ANNUITIES  The lifetime withdrawal percentage automatically increases as early as age 45 and continues each year the client waits to begin lifetime withdrawals. Additionally, contract owners can choose between one or more interest crediting allocations, which can be changed annually.  Clients can earn fixed interest or choose to base potential indexed interest on changes in several market indices, including the new Barclays US Dynamic Balance Index. 8
  9. 9. ALLIANZ LIFE: SIGNATURE 7 This new fixed indexed annuity focuses on safe accumulation and is the second broker/dealer produced annuity introduced by Alliaz this quarter.  Designed to complement Allianz’s Core Income 7 fixed indexed annuity, which focuses more on generating income than accumulation.  Has a seven-year decreasing surrender charge period.  Geared at clients nearing retirement, the product provides upside potential by including a monthly sum crediting strategy and a spread of 1.7% on the Barclays index.  Contract owners can allocate their indexed interest credit to three market indexes: S&P 500 Index, Russell 2000 Index and Barclays U.S. Dynamic Balance Index. ANNUITIES  Allianz Life Public Homepage Image 9
  10. 10. AXA EQUITABLE: INVESTMENT EDGE  Unveiled in late November, the new variable annuity focuses on long-term investing, diversification, deferral and distribution.  Key investing features include over 120 options, such as alternative investments, sector funds and ETFs, as well as 38 pre-packaged portfolios that target specific asset classes. ANNUITIES  Provides distribution of withdrawals based on a variety of customizable, tax-efficient options where contract owners access distributions in multiple ways, including the ability to make payments that are only partially taxed.  Released along with dedicated individual investor and advisor-focused microsites. 10
  11. 11. PACIFIC LIFE: INCOME ADVANTAGE  New deferred fixed annuity that includes a built-in guaranteed withdrawal benefit with a 6% annual credit for deferring income, and the choice of several guaranteed interest-rate terms. ANNUITIES  Contract owners can include a Guaranteed Withdrawal Benefit for an additional cost, which allows clients to begin taking lifetime withdrawals for retirement while the contract continues to earn interest. Pacific Life Advisor Homepage Image 11
  12. 12. TRANSAMERICA: VARIABLE ANNUITY O-SHARE  This new product offers a premium-based pricing structure and living and death benefit options.  Allows clients to transfer assets to family members.  Optional benefit riders include Transamerica's Retirement Income Choice 1.6, Retirement Income Max and Additional Death Distribution (ADD).  $10,000 minimum initial premium, with an annual fee of $50. ANNUITIES  Allows for Dollar Cost Averaging which enables gradual investment over time by systematically buying more units when prices are low and fewer units when prices are high. 12
  13. 13. LIFE INSURANCE PRODUCT UPDATE 13
  14. 14. NATIONWIDE: YOURLIFE GUARANTEED LEVEL TERM  Targets clients ages 35 to 50 who want an easier, affordable and faster way to protect their families and businesses.  10-, 15-, 20- or 30-year guaranteed level term periods with enhanced conversion periods to match the 10-, 15- and 20-year guaranteed level periods and a 20-year conversion period on the 30-year product.  Offers an Accelerated Death Benefit. LIFE INSURANCE  Unique customer benefits such as late premium payment alerts, express claims process and Electronic Funds Transfers (EFT) for all payment modes. 14
  15. 15. NATIONWIDE: YOURLIFE CAREMATTERS New long-term care coverage plan that is linked to a fixed-premium universal life insurance policy.  Geared towards individuals who seek long-term care benefits with greater choice, flexibility and control.  Includes a death benefit option and targets individuals between ages 40-70.  Key features include benefits that are paid out indemnity style (the monthly benefit is paid to the policy owner regardless of monthly expenses) with the option to pay a qualified family member for care rather than a professional.  CareMatters guarantees that the cash value of the policy will never be less than the premiums paid. LIFE INSURANCE  YourLife CareMatters Information Video 15
  16. 16. THE PRINCIPAL: INDEXED UNIVERSAL LIFE FLEX Offers clients greater cash accumulation potential with less risk through longterm death benefit guarantees and strong cash value accumulation potential.  Policyowners can choose from three index-linked accounts, including two featuring the S&P 500 Total Return Index.  Choice between a 10-year no-lapse guarantee provision or an optional extended no-lapse guarantee rider with guaranteed protection to the lesser of 25 years or age 90.  LIFE INSURANCE  The policy includes an automatic trigger of over-loan protection and provides living benefits through accelerated benefit riders for chronic and terminal illness. The Principal Advisor Site Image 16
  17. 17. CORPORATE INSIGHT THOUGHT LEADERSHIP Electronic Delivery: Key Trends Across the Insurance Industry This slide deck highlight some key findings and trends from the Annuity Monitor, Life Insurance Monitor and P&C Insurance Monitor reports that focused on electronic delivery and offers a few tips for insurers looking to improve their electronic delivery services. 2013 Mobile Finance Trends and Innovations This study includes commentary on mobile developments, key takeaways for financial services firms and thoughts on what’s next for mobile finance. Facebook Marketing Campaigns - Social Media Initiatives in the Insurance Industry This slide deck highlights some of the engaging Facebook marketing campaigns initiated by P&C Insurance Monitor firms this year and offers a few Facebook marketing tips for insurers. Social Media Trends: Annuity and Life Insurance This presentation analyzes the current social media initiatives and promotions undertaken by leading insurers, highlights key social media findings and trends across the insurance industry, and offer tips for insurers looking to bolster their social presence. Tablet-Friendly Web Design: Best Practices for Financial Services The study examines the tablet-friendly website features provided by four leading firms across financial services and provides recommendations for financial services firms building tabletoptimized websites. 17
  18. 18. ABOUT CORPORATE INSIGHT Corporate Insight provides competitive intelligence and user experience research to the nation’s leading financial institutions. For over 20 years, the firm has tracked technological developments in the financial services industry, identifying best practices in online banking and investing, online insurance, mobile finance, active trading platforms, social media and other emerging areas. There are no assumptions in Corporate Insight’s work – we use live accounts at all of the firms we research, providing our clients with unparalleled, unbiased intelligence on the competition. Media Inquiries Corporate Insight welcomes the opportunity to speak with the media. If you are interested in citing our research or would like to schedule an interview with one of our analysts, please contact Intermarket Communications at 212-888-6115 or corporateinsight@intermarket.com. Connect With Us JOSE MIGUEL SANTANA BEN POUSTY Research Associate Annuity Monitor & Life Insurance Monitor Marketing Manager (646) 751-6971 (646) 454-2662 jsantana@corporateinsight.com bpousty@corporateinsight.com 18
  19. 19. ABOUT THE AUTHOR Jose Miguel Santana Research Associate Annuity Monitor and Life Insurance Monitor Jose Miguel Santana is a Research Associate for Corporate Insight’s Annuity Monitor and Life Insurance Monitor research services. He has conducted extensive research on the annuities and life insurance industries, examining the online platforms, customer service capabilities and technological innovations offered to prospective investors, clients and financial professionals. This report is the result of Jose Miguel’s ongoing research into the online platforms of the leading annuity and life insurance providers throughout Q4. Jose Miguel graduated from James Madison University in 2010. ABOUT THE AUTHOR Contact Jose: T: (646) 751-6971 E: jsantana@corporateinsight.com Annuity Monitor, Life Insurance Monitor and P&C Monitor are service marks of Corporate Insight, Inc.; all rights reserved. 19

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