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Annuity and Life Insurance Product Update - Q2 2018

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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 the new products introduced on the firms’ websites in the second quarter of 2018 and highlight their key features.

Published in: Economy & Finance
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Annuity and Life Insurance Product Update - Q2 2018

  1. 1. Annuity and Life Insurance Product Update Second Quarter 2018 Published July 2018
  2. 2. Table of Contents ▪ Introduction ▪ Annuities: Product Releases - Prudential Guaranteed Income for Tomorrow (GIFT) - Lincoln Level Advantage - Pacific Life Core Protect Plus - New York Life Secure Term Fixed Annuity V - Athene Agility ▪ Life Insurance: Product Releases - John Hancock Vitality rider - Lincoln Wealth Accumulate IUL ▪ About Annuity Monitor and Life Insurance Monitor
  3. 3. Introduction
  4. 4. Background ▪ This slide deck examines new product releases from annuity carriers and life insurers covered in Corporate Insight’s Annuity Monitor and Life Insurance Monitor research services ▪ We provide a rundown of new products introduced on coverage group firms’ websites in the second quarter of 2018 and highlight their key features
  5. 5. Firms Covered ▪ Below is a list of the firms we track for our Annuity Monitor and Life Insurance Monitor research services: Annuity Monitor Life Insurance Monitor • Allianz Life • Athene • AXA • Brighthouse Financial • Fidelity • Guardian Life • Jackson National • Lincoln Financial • MassMutual • Nationwide • New York Life • Pacific Life • Principal • Prudential • TIAA • Transamerica • USAA • Vanguard • AXA • Brighthouse Financial • Haven Life • John Hancock • Liberty Mutual • Lincoln Financial • MassMutual • Nationwide • New York Life • Northwestern Mutual • Pacific Life • Principal • Prudential • State Farm • USAA
  6. 6. Annuities: Product Releases
  7. 7. Prudential Guaranteed Income for Tomorrow (GIFT) ▪ Direct-to-consumer deferred income annuity launched in March ▪ Requires minimum monthly after-tax contribution of $100 ▪ Was only offered through worksite consumer relationships upon its release ▪ Was expanded to the general public in June
  8. 8. Lincoln Level Advantage ▪ Indexed variable annuity debuted in May ▪ Offers four indexed account, three term-length and four protection-level options ▪ Provides lifetime income if paired with the i4Life Indexed Advantage optional rider
  9. 9. Pacific Life Core Protect Plus ▪ Optional guaranteed minimum withdrawal optional benefit for variable annuities introduced in May ▪ Provides a payment base equal to the higher of a 7% annual credit or the highest anniversary value ▪ Offers a five-year guarantee and comes with annual market lock- ins
  10. 10. New York Life Secure Term Fixed Annuity V ▪ Fixed annuity introduced in June ▪ Features three- to seven-year initial interest rate guarantee periods ▪ Includes the Living Needs Benefit Rider
  11. 11. Athene Agility ▪ Fixed indexed annuity launched in June ▪ Offers one- and two-year interest crediting terms ▪ Features 175% participation rate and a 25% bonus to the Benefit Base ▪ Allows 10% withdrawals based on the greater of the accumulated or initial premium value
  12. 12. Life Insurance: Product Releases
  13. 13. John Hancock Vitality Rider ▪ Optional rider for John Hancock Term introduced in May ▪ Provides access to the Vitality program, which can decrease premiums through program engagement ▪ Results in a higher initial premium than the existing term product with the Vitality program built in ▪ Allows clients to drop the rider after issue
  14. 14. Lincoln Wealth Accumulate IUL ▪ Indexed universal life insurance launched in May ▪ Allows clients to allocate funds within Perform, Balance and Conserve indexed accounts ▪ Supplies optional benefits, including those meant for business protection
  15. 15. About Annuity Monitor and Life Insurance Monitor
  16. 16. Annuity Monitor and Life Insurance Monitor ▪ Annuity Monitor (AM) and Life Insurance Monitor (LIM) focus on the online user experiences that leading firms provide prospects, clients and advisors ▪ Using actual accounts, AM and LIM give a firsthand look at current online capabilities, including client account information, transactions, tools, customer service and educational resources ▪ AM and LIM follow the products and services offered by competitors across the industries, providing an up-close view of what firms are doing to attract new clients
  17. 17. Contact Us Haley Tighe Senior Research Associate (646) 454-2662 htighe@corporateinsight.com

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