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Annuity and Life Insurance Product Update - Q2 2016
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Annuity and Life Insurance Product Update - Q3 and Q4 2016

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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 half of 2016 and highlight their key features.

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Annuity and Life Insurance Product Update - Q3 and Q4 2016

  1. 1. AUTHOR: MEGAN RAFFERTY COPYRIGHT 2017 CORPORATE INSIGHT, INC. Annuity and Life Insurance Product Update Second Half of 2016
  2. 2. 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 Research Associate (646) 751-6974 mrafferty@corporateinsight.com MEDIA INQUIRIES Joshua Grandy, PR Manager (646) 876-7524 pr@corporateinsight.com Press Coverage
  3. 3. TABLE OF CONTENTS  Introduction  Annuities o Fidelity New York Life Clear Income o Pacific Index Edge o Jackson Perspective Advisory o Transamerica Income Edge Living Benefit Rider  Life Insurance o Lincoln SVUL One 2016 o ValoraLife Term o ValoraLife Term Plus o Principal Indexed Universal Life Accumulation o John Hancock Protection SIUL with Vitality  About the Author
  4. 4. INTRODUCTION
  5. 5. 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 the new products introduced on the firms’ websites in the second half of 2016 and highlight their key features.
  6. 6. 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 Athene o AXA o Fidelity o Guardian Life o Jackson National o Lincoln Financial o MassMutual o MetLife 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 Haven Life o John Hancock o Liberty Mutual o Lincoln Financial o MassMutual o MetLife o Nationwide o New York Life o Northwestern Mutual o Pacific Life o Principal o Prudential o State Farm o USAA INTRODUCTION
  7. 7. ANNUITIES: PRODUCT RELEASES
  8. 8. FIDELITY NEW YORK LIFE CLEAR INCOMEANNUITIES  Fidelity began selling the New York Life Clear Income fixed annuity in July 2016  Guaranteed Lifetime Withdrawal Benefit allows lifetime withdrawals  Product income base increases by 5% each year for the first 10 years or until withdrawals begin  Beneficiaries receive remaining accumulation value after annuitant death
  9. 9. PACIFIC INDEX EDGEANNUITIES  Pacific Life announced the Index Edge fixed indexed annuity in September 2016  Product is the first to use the BlackRock Endura Index and can also be linked to a fixed index rate or the S&P 500 Index  Clients can guarantee a minimum withdrawal with a new Interest Enhanced Income Benefit rider  Also available with the Interest Enhanced Death Benefit Rider
  10. 10. PERSPECTIVE ADVISORYANNUITIES  Jackson National introduced fee-based Perspective Advisory variable annuity in October 2016  Product includes a three-year withdrawal charge schedule and offers the same investment and rider options as the Perspective II annuity
  11. 11. INCOME EDGEANNUITIES  Transamerica released the Income Edge living benefit rider in November 2016  Product is designed to offer more growth potential with variable annuities  The rider guarantees payment rates and lets annuity owners invest up to 60% of their portfolio in stocks  Product includes up to 8% increased annual income payment rates
  12. 12. LIFE INSURANCE: PRODUCT RELEASES
  13. 13. LINCOLN SVUL ONE 2016  In July, Lincoln Financial Group released the Lincoln SVUL One 2016 product  New policy joins the Lincoln VUL One 2014 and Lincoln SVUL One 2013 products in existing product suite  Features lifetime guaranteed death benefit and access to cash value  More than 70 investment options offer growth potential LIFEINSURANCE
  14. 14. VALORALIFE TERM  MassMutual-backed ValoraLife launched Term and Term Plus products in July 2016  Prospects can purchase both products entirely online on a site designed to target the Latino market  The Term product provides coverage for 20 or 30 years  Product includes up to $1,000,000 coverage LIFEINSURANCE
  15. 15. VALORALIFE TERM PLUS  Launched alongside Term product, ValoraLife’s Term Plus product was released in July 2016  Term Plus features return of premium at the end of the term  Like the Term product, prospects can purchase it entirely online  Provides coverage for 20 or 30 years  Product includes up to $1,000,000 coverage LIFEINSURANCE
  16. 16. INDEXED UNIVERSAL LIFE ACCUMULATION  In August 2016, Principal launched the Indexed Universal Life Accumulation product  Product is designed for cash value growth and allows regular payments with the submission of only one form  Principal expects policyholders to use partial surrenders or policy loans to generate income  Eight optional riders and two indices are available with the product LIFEINSURANCE
  17. 17. PROTECTION SIUL WITH VITALITY  John Hancock announced the Protection Survivorship Indexed Universal Life product in October 2016  As with all Vitality policies, clients can earn lower premiums through healthy actions, such as making dentist appointments and healthy food purchases  Product also includes the same features as the existing Protection SIUL policy LIFEINSURANCE
  18. 18. ABOUT THE AUTHORABOUTTHEAUTHOR Megan Rafferty Research Associate Annuity Monitor and Life Insurance Monitor Megan Rafferty is a 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 semiannual 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.
  • zahratulainii_

    Feb. 27, 2017

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 half of 2016 and highlight their key features.

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