This document summarizes new annuity and life insurance products introduced in the first quarter of 2017. It provides details on fixed and fixed indexed annuities from Athene, Lincoln, Transamerica, Voya, Jackson, Allianz and others. It also outlines new term life insurance products from Lincoln and John Hancock, as well as a new indexed universal life policy from Pacific Life. The document is authored by Megan Rafferty, a research associate at Corporate Insight, and is intended to highlight the key features and updates from these various insurance carriers.
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Annuity and Life Insurance Product Update - Q1 2017
1. AUTHOR: MEGAN RAFFERTY
COPYRIGHT 2017 CORPORATE INSIGHT, INC.
Annuity and Life Insurance
Product Update
First Quarter 2017
PUBLISHED: APRIL 2017
2. TABLE OF CONTENTS
Introduction
Annuities
o Athene MaxRate
o Athene Ascent Accumulator
o Lincoln ChoicePlus Advisory
o Lincoln American Legacy Advisory
o Lincoln Investor Advantage Advisory
o Transamerica I-Share
o Voya Journey Index
o Jackson Elite Access Advisory
o Allianz Retirement Foundation ADV
o Lincoln Core Income
Life Insurance
o Lincoln LifeElements Level Term (2017)
o John Hancock Unemployment Protection Rider
o Pacific Discovery Xelerator
About the Author
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
the new products introduced on
the firms’ websites in the first
quarter of 2017 and highlight their
key features.
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
7. ATHENE MAXRATEANNUITIES
Athene MaxRate fixed deferred annuity launched in January
Product offers a fixed interest rate for three-, five- and seven-year terms
Withdrawal periods match interest rate terms
Terminal Illness and Confinement waivers are included
8. ATHENE ASCENT ACCUMULATORANNUITIES
Athene Ascent Accumulator fixed indexed annuity was reintroduced in January
Product was discontinued in 2014
Terminal Illness and Confinement waivers are included
Optional Legacy death benefit rider provides 8% simple interest for
beneficiaries
9. LINCOLN CHOICEPLUS ADVISORYANNUITIES
ChoicePlus Advisory fee-based variable annuity was released in January
Product joins the Lincoln ChoicePlus suite
Product offers six living benefit riders: i4LIFE Advantage, i4LIFE Advantage
Select GIB, i4LIFE Advantage GIB, 4LATER Select Advantage, Lincoln Lifetime
Income Advantage 2.0 and Lincoln Market Select Advantage
10. AMERICAN LEGACY ADVISORYANNUITIES
American Legacy Advisory fee-based variable annuity was introduced in
January
Product joins the American Legacy suite
Product offers five riders: i4LIFE Advantage Select GIB, i4LIFE Advantage GIB
(Managed Risk), 4LATER Select Advantage, Lincoln Lifetime Income Advantage
2.0 and Lincoln Market Select Advantage
11. LINCOLN INVESTOR ADVANTAGE ADVISORYANNUITIES
Investor Advantage Advisory fee-based variable annuity launched in January
Product joins the Lincoln Investor Advantage suite
Product offers investment transfers without charges
12. TRANSAMERICA VARIABLE ANNUITY I-SHAREANNUITIES
Transamerica released the I-Share fee-based variable annuity in January
Product is available through broker-dealer managed platforms
Product offers six optional riders: Retirement Income Choice 1.6, Transamerica
Income Edge, Retirement Income Max, Guaranteed Principal Solution,
Additional Death Distribution and Additional Death Distribution+
13. VOYA JOURNEY INDEXANNUITIES
Voya introduced the Journey Index single premium fixed indexed annuity in
January
Product features two stages of interest credit: annual performance interest
credit followed by indexed interest credit
Nursing Home/Terminal Illness Waiver is included
14. ELITE ACCESS ADVISORYANNUITIES
Jackson National announced the fee-based Elite Access Advisory variable
annuity in January
Product offers three-year withdrawal charge schedule
Product includes the same investment and rider options as the Elite Access
annuity
15. RETIREMENT FOUNDATION ADVANNUITIES
Allianz launched Retirement Foundation ADV fixed indexed annuity in February
Fee-based product is available with the Income Benefit rider
Product includes a seven-year withdrawal charge period
16. LINCOLN CORE INCOMEANNUITIES
Lincoln released the Core Income fee-based variable annuity in February
All investment options are exchange-traded funds
Product was developed in partnership with BlackRock
Guarantee of Principal and Core Income benefits are included
Product can only be sold by Registered Investment Advisors
18. LINCOLN LIFEELEMENTS LEVEL TERM (2017)
In January, Lincoln Financial Group released the LifeElements Level Term
(2017) product
Product is nearly identical to the 2014 iteration
Product replaces the 2001 Commissioners Standard Ordinary (CSO) mortality
bases with the 2017 CSO mortality basis
LIFEINSURANCE
19. UNEMPLOYMENT PROTECTION RIDER
John Hancock launched the Unemployment Protection Rider in February
Rider waives 12 months of premiums if clients provide proof of
unemployment benefits
Rider is available with John Hancock Term and John Hancock Term with Vitality
policies
LIFEINSURANCE
20. PACIFIC DISCOVERY XELERATOR
Pacific Life released the Pacific Discovery Xelerator indexed universal life policy
in February
Product is designed to offer cash value accumulation after 15 years
Firm expects affluent clients to facilitate growth by paying high premiums
during early years
LIFEINSURANCE
21. 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 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.
22. 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
Jenna Lesnoy, Associate Marketing Manager
(646) 432-5484
pr@corporateinsight.com
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