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Annuity and Life Insurance Product Update - Q4 2017

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

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Annuity and Life Insurance Product Update - Q4 2017

  1. 1. Annuity and Life Insurance Product Update Fourth Quarter 2017 Published January 2018
  2. 2. Table of Contents ▪ Introduction ▪ Annuities: Product Releases -Jackson Perspective Advisory II -Principal Flexible Income Protector Plus -Fidelity IncomeSource -New York Life Premier Variable Annuity – FP Series -Lincoln Covered Choice 7 ▪ Life Insurance: Product Releases -Principal Indexed UL Flex II -Pacific Life PremierCare Choice ▪ About
  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 fourth quarter of 2017 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 • Voya • 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. Jackson Perspective Advisory II ▪ Variable annuity introduced in October ▪ Allows policy holders to select investments ▪ Lacks withdrawal charges, differing from the Perspective Advisory product
  8. 8. Principal Flexible Income Protector Plus ▪ Guaranteed minimum withdrawal benefit rider launched in November ▪ Provides 5% annual bonus if clients do not take withdrawals in 10 years ▪ Includes automatic annual step-up
  9. 9. Fidelity IncomeSource ▪ Single premium immediate annuity debuted in October ▪ Offers increasing payout option ▪ Is underwritten by Western & Southern Financial Group
  10. 10. New York Life Premier VA – FP Series ▪ Variable annuity introduced in November ▪ Continues existing series ▪ Features choice between guaranteed death benefit or stream of lifetime income ▪ Offers level M&E Fee structure ▪ Grants 0.2% fee decrease at seventh policy anniversary
  11. 11. Lincoln Covered Choice 7 ▪ Single premium fixed indexed annuity launched in December ▪ Features seven-year surrender charge schedule ▪ Provides immediate access to income with optional i4Life Indexed Advantage rider ▪ Offers one-year age bands with optional Lincoln Lifetime Income Edge rider
  12. 12. Life Insurance: Product Releases
  13. 13. Principal Indexed UL Flex II ▪ Universal life policy debuted in October ▪ Updates the Indexed UL Flex product ▪ Features lower policy charge structure
  14. 14. Pacific Life PremierCare Choice ▪ Whole life insurance policy launched in November ▪ Replaces Pacific PremierCare Advantage product ▪ Offers long-term care benefits ▪ Provides 100% return of premium with Choice 100 variation ▪ Provides vested return of premium with Choice Max variation
  15. 15. About
  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 Megan Rafferty Senior Research Associate (646) 751-6974 mrafferty@corporateinsight.com

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