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Annuity and Life Insurance Product Update - Q2 2017

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This slide deck examines new product releases from annuity carriers and life insurers covered in our Annuity Monitor and Life Insurance Monitor research services.

Inside, we provide a rundown of new products introduced on the firms’ websites in the second quarter of 2017 and highlight their key features.

Published in: Economy & Finance
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Annuity and Life Insurance Product Update - Q2 2017

  1. 1. AUTHOR: MEGAN RAFFERTY COPYRIGHT 2017 CORPORATE INSIGHT, INC. Annuity and Life Insurance Product Update Second Quarter 2017 PUBLISHED: JULY 2017
  2. 2. TABLE OF CONTENTS ▪ Introduction ▪ Annuities o Nationwide Secure Growth o Principal Lifetime Income Solutions II o Principal Pivot Series o Pacific Life Pacific Index Advisory o Prudential Legacy Protection Rider o Transamerica Inspire o Brighthouse Financial Shield Level 10 o Allianz Index Advantage ADV o Allianz Index Advantage NF o Lincoln Max 6 Select Advantage Rider o Athene Performance Elite 7 ▪ Life Insurance o MetLife Rapid Term Life Insurance o MassMutual Direct o Prudential PruLife Essential Universal Life o Principal Conversion Extension Rider ▪ About the Author
  3. 3. INTRODUCTION
  4. 4. INTRODUCTION BACKGROUND This slide deck examines new product releases from annuity carriers and life insurers covered in our Annuity Monitor and Life Insurance Monitor research services. Inside, we provide a rundown of new products introduced on the firms’ websites in the second quarter of 2017 and highlight their key features.
  5. 5. 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 Athene o AXA o Brighthouse Financial o Fidelity o Guardian Life o Jackson National o Lincoln Financial o MassMutual o Nationwide o New York Life o Pacific Life o Principal o Prudential o TIAA o Transamerica o USAA o Vanguard o Voya o AXA o Brighthouse Financial o Haven Life o John Hancock o Liberty Mutual o Lincoln Financial o MassMutual o Nationwide o New York Life o Northwestern Mutual o Pacific Life o Principal o Prudential o State Farm o USAA INTRODUCTION FIRMS COVERED
  6. 6. ANNUITIES: PRODUCT RELEASES
  7. 7. NATIONWIDE SECURE GROWTHANNUITIES ▪ Fixed annuity launched in April ▪ Includes guaranteed interest rate for one, three, five or seven years ▪ Offers a market value adjustment option in some states ▪ Requires a $10,000 minimum initial payment
  8. 8. PRINCIPAL LIFETIME INCOME SOLUTIONS IIANNUITIES ▪ Variable annuity introduced in April ▪ Includes annual account value increases based on market gains ▪ Clients choose either Target Income Protector or Flexible Income Protector guaranteed minimum withdrawal benefits
  9. 9. PRINCIPAL PIVOT SERIESANNUITIES ▪ New variable annuity iteration released in April ▪ Includes shorter surrender charge schedule than its predecessor ▪ Offers increased issue ages
  10. 10. PACIFIC INDEX ADVISORYANNUITIES ▪ Fee-based fixed indexed annuity introduced in May ▪ Includes five- or seven-year guarantee periods ▪ Offers both fixed and index-linked crediting options ▪ Available with optional Interest Enhanced Death Benefit or Enhanced Lifetime Income Benefit 2 riders
  11. 11. LEGACY PROTECTION RIDERANNUITIES ▪ Rider launched in May ▪ Designed to protect wealth for beneficiaries and offer growth potential ▪ Establishes a growing minimum death benefit value
  12. 12. TRANSAMERICA INSPIREANNUITIES ▪ Released in May ▪ Variable annuity includes a seven-year surrender charge schedule ▪ Includes withdrawals for clients confined to nursing homes, diagnosed with terminal illnesses or laid off from jobs ▪ Available with nine existing riders
  13. 13. SHIELD LEVEL 10ANNUITIES ▪ Single premium deferred annuity launched in May ▪ First product launched under Brighthouse Financial name since MetLife initiated the spinoff ▪ Joins Shield Level Selector annuity suite ▪ Distributed by Wells Fargo Advisors ▪ Protects clients from first 10% of index loss
  14. 14. ALLIANZ INDEX ADVANTAGE ADVANNUITIES ▪ Variable annuity announced in May ▪ Joins Allianz Index Advantage and Allianz Index Advantage NF annuities to form a suite ▪ Designed to fit within a fee-based portfolio
  15. 15. ALLIANZ INDEX ADVANTAGE NFANNUITIES ▪ Variable annuity introduced in May ▪ Joins Allianz Index Advantage and Allianz Index Advantage ADV annuities to form a suite ▪ Does not include annual product fees on index strategies
  16. 16. LINCOLN MAX 6 SELECT ADVANTAGEANNUITIES ▪ Variable annuity rider released in May ▪ Provides 6% income base growth ▪ Includes up to 80% allocation to equities ▪ Available with all Lincoln variable annuities
  17. 17. ATHENE PERFORMANCE ELITE 7ANNUITIES ▪ Fixed indexed annuity introduced in June ▪ Expands Performance Elite suite with a seven-year withdrawal charge schedule ▪ Includes optional premium bonus and return of premium
  18. 18. LIFE INSURANCE: PRODUCT RELEASES
  19. 19. METLIFE RAPID TERM LIFE INSURANCE ▪ Introduced in May ▪ Sold online or over the phone ▪ Does not require medical exam ▪ Offers up to $500,000 in coverage for 10- to 30-year term LIFEINSURANCE
  20. 20. MASSMUTUAL DIRECT ▪ Launched in June as a pilot program ▪ Available for online purchase ▪ Fully underwritten LIFEINSURANCE
  21. 21. PRULIFE ESSENTIAL UNIVERSAL LIFE ▪ Released in June ▪ Designed to offer growth potential with a simple design ▪ Includes No-Lapse Guarantee with option to extend guaranteed coverage ▪ Available with optional BenefitAccess Rider LIFEINSURANCE
  22. 22. CONVERSION EXTENSION RIDER ▪ Added to Principal Term product in June ▪ Allows later conversions from term to whole life insurance ▪ Prospects can obtain the rider for up to 30 years, depending on age LIFEINSURANCE
  23. 23. ABOUT THE AUTHORABOUTTHEAUTHOR Megan Rafferty Senior Research Associate Annuity Monitor and Life Insurance Monitor Megan Rafferty is a Senior Research Associate for Corporate Insight’s Annuity Monitor and Life Insurance Monitor services. She has conducted extensive research on the annuity and life insurance industries, examining the online capabilities, educational resources and technological tools offered to prospects, clients and financial professionals. This quarterly study is the result of Megan’s ongoing research into product releases from leading annuity and life insurance providers. Contact Megan Rafferty: (646) 751-6974 mrafferty@corporateinsight.com Connect with Megan Connect with CI Annuity Monitor and Life Insurance Monitor are service marks of Corporate Insight, Inc.; all rights reserved.
  24. 24. ABOUT CORPORATE INSIGHT Connect With Us Corporate Insight provides competitive intelligence and user experience research to the nation’s leading financial institutions. For more than 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. MEGAN RAFFERTY Senior Research Associate (646) 751-6974 mrafferty@corporateinsight.com MEDIA INQUIRIES Jenna Lesnoy, Associate Marketing Manager (646) 432-5484 pr@corporateinsight.com Press Coverage

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