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Annuity Product Debuts  (New Annuity or Substantial Changes)
Newest to Oldest
Allianz Retirement Foundation and Income Stage (9/16)
Great American Index Protector 7 (9/16)
Security Benefit Select Benefit (9/16)


Bankers Life GLIA (8/16)

Voya Quest Series (7/16)

Nationwide Nationwide Summit and  Peak (5/16)

Principal Secure Choice Indexed Annuity (2/16)

Columbus Life Insurance Advantage (11/15)
Lafayette Life Marquis SP (11/15)

Penn Mutual Premier Foundation (10/15)

Equitrust DynaMARC (9/15)

Athene New Performance Elite and Performance Elite Plus (7/15)
Guggenheim Life TriVysta (7/15)
Lincoln Financial OptiBlend (7/15)
Pacific Life Pacific Index Dimensions (7/15)

Delaware Life Retirement Chapters 10 (6/15)

Athene Ascent (4/15)
Midland National BenefitPay 14 (4/15)
NACOLAH BenefitSolutions 14 (4/15)
Symetra Edge Premier (4/15)


American Equity Choice Series (3/15)

Voya Wealth Builder Six/Eight Annuities  (10/14)

American Equity S&P 500 Aristocrat (9/14)
F&G Safe Income Plus (9/14)
Integrity Indextra (9/14)

Allianz Essential Income (6/14) 
Athene Benefit 10 Annuity (6/14) 
Midland National Life LiveWell (6/14) 

F&G Performance Pro (3/14) 
Nationwide New Heights (3/14) 
PHL Variable Personal Retirement Choice FIA (3/14)  
SBL & Morgan Stanley (3/14)

Great American American Legend III (2/14)

Allianz MasterDex XTRA (11/13) 

Allianz Barclays US Dynamic Index  (9/13)

Allianz Signature 7/Core 7 (8/13)
North American SecureChoice Series (8/13)

Genworth SecureLiving Index 5 (7/13)
MNL SecureVantage Series (7/13) 
Security Benefit Transparent (7/13)

American General Choice Index 10 (5/13)
Midland National Life IncomeVantage (5/13)
North American Company IncomeChoice (5/13)
PHL Phoenix Income Elite (5/13)

Principal Introduces DIA (5/13)

Aviva TargetHorizon (4/13)
ING Lifetime Income (4/13) 

Sentinel Security Life Bonus Index 10 (4/13)
 

Allianz 222 Annuity (2/13) 
Security Benefit Foundations Annuity (2/13)

LSW SecurePlus VIP (12/12)

Allstate Right Fit (9/12) 

Phoenix (PHL) Personal Protection Choice (7/12)

Allstate IncomeProtector & GrowthProtector (6/12) 
LSW SecurePlus Paramount 5 (6/12) 
Oxford Life Bonus Ten (6/12)
 

Security Benefit TVA w/TVI (5/12) 

LFG OptiChoice New York (3/12) 
The Standard Index Select (3/12)
 

Allianz 365i (2/12) 
Midland National RetireVantage 14 & 10 (2/12)
Pacific Life Index Choice (2/12) 

F&G AccumulatorPlus 10 & 14 (12/11) 
Hartford Saver Solution (12/11)
 

Allianz 360 Annuity (9/11) 
Amer Gen AG Lifetime Income Builder
(9/11)

ING Adds LIBOR Strategy (8/11) 
NYL Guaranteed Future Income Annuity (8/11)  
PHL CommandMark (8/11)
 

Forethought Bonus Advantage (7/11) 
Forethought GLIB  (7/11)
 
Indus All Pacific Freedom Flex Index (7/11)
 
PHL Premier LifeStyle Annuity (7/11)
 

Lincoln National Lifetime Income Edge (5/11) 

MNL Endeavor Series (11/10) 

PHL Secure LifeStyle (10/10) 

WNL Power Index (8/10) 

Allianz Simple Income Rider III (5/10) 

Aviva MultiChoice Series, BAA & Revisions (4/10) 

Allianz Pro V1 Annuity (3/10) 

EquiTrust Income For Life (10/09) 

Great American Safe Return (7/09) 

Allianz Changes (4/09) 

American Equity Retirement Gold (3/09) 
Forethought Income 125 (3/09)
 
Shenandoah In Receivership (3/09)
 

Allianz Simple Income II (2/09) 

Standard Life of Indiana (1/09) 

Allianz MasterDex X (11/08) 
Bankers Life and Casualty GrowthPoint (11/08)
 

ING Income Protector (10/08) 

Jackson National Life Ascender Plus (6/08) 
Sagicor Platinum Series (6/08)

Allianz Target Accelerator (4/08) 
American General Global Index Series (4/08)
 
Midland National Life Rainbow Added (4/08) 
National Western Life Global Lookback (4/08)
 
North American Rainbow Added (4/08)
 

Allianz MasterDex Plus Series (3/08) 
American Investors Income Select Bonus (3/08)
 
Aviva MultiChoice IncomeXtra (3/08)
 

American Investors Life BPA Select Series (2/08) 
Aviva MultiChoice Income Elite (2/08)
 

ING Envoy Series (2/08)
 

Allianz Pulls PowerDex (1/08) 
MNL Ten (1/08)
 
Physicians Life Vista Index Advantage (1/08)
 

American Investors Income Select Platinum (11/07) 
OM Financial Spectrum Reserve Bonus (11/07)
 

Jackson National Life AscenderPlus (10/07) 
Lafayette Life Marquis Centennial 10 (10/07)
 

Bankers Life & Casualty Security Builder (9/07) 
Forethought Destination Income (9/07)
 
OM Financial Spectrum Choice(s) (9/07)
 
Sun Life SunDex Bonus (9/07)
 

Allianz Endurance 10 (8/07)  
Equitrust MarketTen  (8/07)
 
Fort Dearborn Life
Index Fortifier (8/07) 
North American Freedom Choice (8/07)
 

Americo Elite Provider (6/07) 
Midland National Select Series (6/07)
 

National Western Life Utra Value (6/07)

Midland National Guaranteed Income Provider (5/07) 
Jefferson-Pilot Life (5/07)
 
National Western Guaranteed Income Provider (5/07)

ING Secure Index Outlook (4/07) 
ING
 Income Protector (4/07) 
North American Company Prizm Series (4/07)
 

American Equity Gold Series (3/07)
 

Forethought Life Destination Series (2/07) 
Lincoln Benefit Life GLWB (2/07)
 

Allianz Life VersaDex (1/07) 
Midland National Paragon Series (1/07)
 

Conseco Command (12/06) 
Midland National Life Royal (12/06)
 
RBC Choice 10 & 8 (12/06)
 

American Equity Platinum-3 (11/06) 
Lafayette Life Marquis Centennial (11/06)
 
Loyal American Loyal Series (11/06)
 

American General VisionAdvantage (10/06) 
Investors Insurance PremierMark Plus (10/06)
 
Protective Life ProSaver Series (10/06)
 
Sun Life GLWB (10/06)
 

Allianz Life Death Benefits (9/06) 
Fidelity and Guaranty Safety Index (9/06)
 
Minnesota Life SecureLink (9/06)
 

American Equity Platinum 10 (8/06) 
American National Strategy 7 & 10 (8/06) 
AmerUs Life MultiChoice Income Series (8/06)  Equitrust Builder & Performance Bonus (8/06)

North American Formula Series (7/06)

AIG Power Index (6/06)

American General Emerging Edge (5/06) 
Midland National Mainstreet Four (5/06) 
Protective Life ProSaver Index Choice 5 (5/06)

American Investors BPA Series (4/06) 
Jackson National Life Elite AR Series (4/06) 
LBL Savers Index Plus & Premier (4/06) 
Midland National Life New FIAs (4/06) 

Allianz InfiniDex (3/06) 
Americo Ultimate One Series (3/06) 
Genworth SecureLiving (3/06) 
Jackson National Life Elite Choice (3/06) 
The Standard Index Growth 5 & 7 (3/06)

Aviva Progressive Index (1/06)

American General Horizon MultiValue (12/05)

CUNA MEMBERS (11/05) 
Farm Bureau Financial Asset Guardian (11/05) 
ING Secure 5 & 7 (11/05) 
Jefferson-Pilot Clear Point & OptiPoint (11/05)

Conseco Annuity & RetirementEdge (10/05) 
Fort Dearborn Life Index Fortifier (10/05) 
Midland National Mainstreet (10/05)

American Equity Future Platinum (8/05)  
American Investors American Edge (8/05) 
Equitrust MarketBooster Index (8/05) 
Lafayette Life Advant-Edge (8/05) 
Nationwide Clear Horizon (8/05) 
Sun Life SunDex ProVantage (8/05)

American National Value-Lock Series (7/05) 
Conseco Patriot 12 (7/05) 
Standard Life & Accident Legend Series (7/05)

 

 

 

 

 

 

Alphabetical

Allianz
Allianz Retirement Foundation and Income Stage (9/16)
Allianz Essential Income (6/14) 
Allianz Barclays US Dynamic Index  (9/13)
Allianz Signature 7/Core 7 (8/13)

Allianz 222 Annuity (2/13) 
Allianz 365i (2/12)
 
Allianz 360 Annuity (9/11) 
Allianz Simple Income Rider III (5/10) 
Allianz Pro V1 Annuity (3/10) 
Allianz Changes (4/09) 
Allianz Simple Income II (2/09) 
Allianz MasterDex X (11/08) 
Allianz MasterDex XTRA (11/13)
Allianz Target Accelerator (4/08) 
Allianz MasterDex Plus Series (3/08) 
Allianz Pulls PowerDex (1/08) 
Allianz Endurance 10 (8/07)  
Allianz Life VersaDex (1/07) 
Allianz Life Death Benefits (9/06) 
Allianz InfiniDex (3/06) 

Allstate
Allstate Right Fit (9/12)

Allstate IncomeProtector & GrowthProtector (6/12)
 

American Equity
American Equity Choice Series (3/15)
American Equity S&P 500 Aristocrat (9/14)
American Equity Retirement Gold (3/09) 
American Equity Gold Series (3/07) 
American Equity
Platinum-3 (11/06) 
American Equity Platinum 10 (8/06) 
American Equity Future Platinum (8/05)

American General 
American General Choice Index 10 (5/13) 
Amer Gen AG Lifetime Income Builder
(9/11) 
American General Global Index Series (4/08) 
American Investors Life BPA Select Series (2/08) 
American General VisionAdvantage (10/06) 
American General Emerging Edge (5/06) 
American General Horizon MultiValue (12/05) 

American National 
A
merican National Strategy 7 & 10 (8/06) 
American National Value-Lock Series (7/05) 

Americo 
Americo Elite Provider (6/07) 
Americo Ultimate One Series (3/06)

Athene (Aviva, AmerUs, American Investors) 

Athene New Performance Elite and Performance Elite Plus (7/15)
Athene Ascent (4/15)
 
Athene Benefit 10 Annuity (6/14) 
Aviva TargetHorizon (4/13)
 
Aviva MultiChoice Series, BAA & Revisions (4/10) 
American Investors Income Select Bonus (3/08) 
Aviva MultiChoice IncomeXtra (3/08)
 
Aviva MultiChoice Income Elite (2/08) 
American Investors Income Select Platinum (11/07) 
AmerUs Life MultiChoice Income Series (8/06) 
American Investors BPA Series (4/06) 
Aviva Progressive Index (1/06) 
American Investors American Edge (8/05)

Bankers Life & Casualty 
Bankers Life GLIA (8/16)

Bankers Life and Casualty GrowthPoint (11/08)  
Bankers Life & Casualty Security Builder (9/07) 

Columbus
Columbus Life Insurance Advantage (11/15)

Conseco 
Conseco Command (12/06) 
Conseco Annuity & RetirementEdge (10/05) 
Conseco Patriot 12 (7/05) 

CUNA 
CUNA MEMBERS (11/05) 

Delaware
Delaware Life Retirement Chapters 10 (6/15)

EquiTrust 
Equitrust DynaMARC (9/15)
EquiTrust Income For Life (10/09) 
Equitrust MarketTen  (8/07) 
Equitrust Builder & Performance Bonus (8/06) 
Farm Bureau Financial Asset Guardian (11/05) 
Equitrust MarketBooster Index (8/05) 

F&G 
F&G Safe Income Plus (9/14)

F&G Performance Pro (3/14)

F&G AccumulatorPlus 10 & 14 (12/11) 
OM Financial Spectrum Reserve Bonus (11/07) 
OM Financial Spectrum Choice(s) (9/07) 
Fidelity and Guaranty Safety Index (9/06)

Forethought 
Forethought Bonus Advantage (7/11) 
Forethought GLIB  (7/11) 
Forethought Income 125 (3/09) 
Forethought Destination Income (9/07)  
Forethought Life Destination Series (2/07) 

Fort Dearborn Life 
Fort Dearborn Life Index Fortifier (8/07) 
Fort Dearborn Life Index Fortifier (10/05) 

Great American (Loyal American) 
Great American Index Protector 7 (9/16)
Great American American Legend III (2/14)
Great American Safe Return (7/09) 
Loyal American Loyal Series (11/06) 

Genworth 
Genworth SecureLiving Index 5 (7/13)  SecureLiving (3/06)

 

Guggenheim
Guggenheim Life TriVysta (7/15)

Hartford 
Hartford Saver Solution (12/11)

Industrial Alliance Pacific
Indus All Pacific Freedom Flex Index (7/11)

Integrity
Integrity Indextra (9/14)

Investors Insurance 
Investors Insurance PremierMark Plus (10/06)

Jackson National Life 
Jackson National Life Ascender Plus (6/08) 
Jackson National Life AscenderPlus (10/07) 
Jackson National Life Elite AR Series (4/06) 
Jackson National Life Elite Choice (3/06)

Lafayette Life 
Lafayette Life Marquis SP (11/15)
Lafayette Life Marquis Centennial 10 (10/07) 
Lafayette Life Marquis Centennial (11/06) 
Lafayette Life Advant-Edge (8/05)

Lincoln Benefit Life
Lincoln Benefit Life GLWB (2/07) 
LBL Savers Index Plus & Premier (4/06) 

Lincoln Financial Group 
Lincoln Financial OptiBlend (7/15)
LFG OptiChoice New York (3/12)
 
Lincoln National
Lifetime Income Edge (5/11) 
Jefferson-Pilot Life (5/07) 
Jefferson-Pilot Clear Point & OptiPoint (11/05)
Prime Income Optimizer FIA (6/13)

LSW
LSW SecurePlus VIP (12/12)

LSW SecurePlus Paramount 5 (6/12)
 

Midland National Life 
Midland National BenefitPay 14 (4/15)
Midland National Life LiveWell (6/14)
MNL SecureVantage Series (7/13) 
Midland National Life IncomeVantage (5/13) 
Midland National RetireVantage 14 & 10 (2/12) 
MNL Endeavor Series (11/10) 
Midland National Life Rainbow Added (4/08) 

MNL Ten (1/08)
 
Midland National Select Series (6/07) 
Midland National Guaranteed Income Provider (5/07) 
Midland National Paragon Series (1/07) 
Midland National Life Royal (12/06) 
Midland National Mainstreet Four (5/06) 
Midland National Life New FIAs (4/06) 
Midland National Mainstreet (10/05)

National Western
National Western Life Global Lookback (4/08)  
National Western Life Utra Value (6/07) 
National Western Guaranteed Income Provider (5/07) 

Nationwide 
Nationwide Nationwide Summit and  Peak (5/16)
Nationwide New Heights (3/14)
Nationwide Clear Horizon (8/05)

New York Life 
NYL Guaranteed Future Income Annuity (8/11)  

North American Company 
NACOLAH BenefitSolutions 14 (4/15)
North American SecureChoice Series (8/13)
North American Company IncomeChoice (5/13) 
North American Rainbow Added (4/08) 
North American Freedom Choice (8/07) 
North American Company Prizm Series (4/07) 
North American Formula Series (7/06) 

Oxford
Oxford Life Bonus Ten (6/12)

Pacific Life
Pacific Index Dimensions (7/15)
Pacific Life Index Choice (2/12) 

Penn Mutual
Premier Foundation (10/15)

Phoenix (PHL) Life 
PHL Variable Personal Retirement Choice FIA (3/14)
PHL Phoenix Income Elite (5/13)

P
hoenix (PHL) Personal Protection Choice (7/12)
 
PHL CommandMark (8/11) 
PHL Premier LifeStyle Annuity (7/11) 
PHL Secure LifeStyle (10/10)

Physicians
Physicians Life Vista Index Advantage (1/08)

Principal
Principal Secure Choice Indexed Annuity (2/16)
Principal Introduces DIA (5/13)

Protective Life/West Coast Life 
Protective Life ProSaver Series (10/06) 
Protective Life ProSaver Index Choice 5 (5/06)

RBC 
RBC Choice 10 & 8 (12/06)

Sagicor 
Sagicor Platinum Series (6/08)

Securian 
Minnesota Life SecureLink (9/06)

Security Benefit 
Security Benefit Select Benefit (9/16)
SBL & Morgan Stanley (3/14)
Security Benefit Transparent (7/13)
Security Benefit Foundations Annuity (2/13) 
Security Benefit TVA w/TVI (5/12)

Sentinel
Sentinel Security Life Bonus Index 10 (4/13)

Shenandoah Life
Shenandoah In Receivership (3/09)

Standard Life & Accident 
Standard Life & Accident Legend Series (7/05)

Standard Life of Indiana 
Standard Life of Indiana (1/09) 

The Standard (Oregon) 
The Standard Index Select (3/12)
 
The Standard Index Growth 5 & 7 (3/06)

Sun Life 
Sun Life SunDex Bonus (9/07) 
Sun Life GLWB (10/06) 
Sun Life SunDex ProVantage (8/05) 

Symetra
Symetra Edge Premier (4/15)

Voya (ING) 
Voya Quest Series (7/16)
Voya Wealth Builder Six/Eight Annuities  (10/14)

ING Lifetime Income (4/13)  
ING Adds LIBOR Strategy (8/11)
 
ING Income Protector (10/08) 
ING Envoy Series (2/08) 
ING Secure Index Outlook (4/07) 
ING Income Protector (4/07) 
ING Secure 5 & 7 (11/05)

Western National 
WNL Power Index (8/10) 
AIG Power Index (6/06)






Allianz Retirement Foundation and Income Stage (9/16)
(SERFF ALLD-130691397) [Specs are] SC 7yr-6.5,6.5.4.3.2.1 w/MVA, 10% free withdrawal, 1% on 87.5% min. Fixed, S&P 500, Nasdaq 100, Russell 2000, Blended Income and Barclays US Dynamic Balance Index II w/cap and spread.   Benefit Rider II fee 1.05% Payouts (Jt): Age 60 5.1%(4.6%); Age 65 5.65%(5.15%); Age 70 6.4%(5.90%); Age 75 7.15%(6.65%); Age 80 7.9%(7.4%). Increasing income option available.
 

Great American Index Protector 7 (9/16) 
is designed for those offering fee-based services. Min Prem: $100,000 SC 7yr-7,7,7,6,5,4,3 w/MVA, 10% free withdrawals, 1% on 87.5% min guarantee; offers S&P 500 and S&P 500 Average Daily RCI 10% w/ p-rate   Income Keeper GLWB available with 2% stacked rate for 10 years; 0.5% rider fee. Fee is refunded if death occurs before income starts. Payout:  single (joint) Age 55-64 4%(3); Age 65+ 5%(4%)
 

Security Benefit Select Benefit (9/16)
(SERFF SECB-130706991) [Specs are]  SC 10yr-12,12,11,11,10, 9,8,7,6,4; 5% free withdrawal  1% on 87.5% min, S&P 500 APP w/cap & monthly sum; S&P 500 Col-controlled 2 yr w/spread & p-rate; UBS Market Pioneers (Rational Behavior) APP & 2 Yr Pt-to-PT w/spread & p-rate. 8% Bonus Rate, recaptured.   GLWB w/ 7% roll-up for 10 yrs. Payouts:Male[Female](Jt): Age 60 5.5%[5.3%](4.8%); Age 65 6%[5.8%](5.3%); Age 70 6.5%[6.3%](5.8%); Age 75 7%[6.8%](6.3%); Age 80 7.5%[7.3%](6.8%). 1.2% rider fee. ADL feature.
 

Bankers Life and Casualty GLIA (8/16)   
announced the Guaranteed Lifetime Income Annuity (GLIA) annuity portfolio. Has fixed rate and S&P 500 index using monthly averaging. Sur Chg 10yr-10,10,10,9,8,7,6,5, 4,3,1. Free 10% withdrawals after 1st yr; Convalescent Care and Terminal Illness Riders automatically included (if age 75 or under at issue). Min Premium: $5,000 ($2,000-Qual). Max Age: 80   Lifetime withdrawal benefit (Jt) Age 60 4.5%(3.75%), Age 65 5.0%(4.25%), Age 70 5.5%(4.75%), Age 75 6.0%(5.25%) Age 80 6.5%(5.75%) .Lifetime Income Withdrawal percentages will increase 1.0% for every five-year period (from the start of the policy) that you wait to take withdrawals, up to a maximum of 20 years (4.0%). No fee is charged to the annuity’s account value for the Lifetime Income Withdrawal benefit.  


Voya Quest Series (7/16)
offer clean and simple 5 , 7 and 10 year surrender period fixed index annuities. Voya Quest Plus has a 6% premium bonus w/recapture, 10yr surrender charge-10,10,10,10,9,8,7,6,5,4  w/MVA. Quest 7 has a  7yr SC-9,8,7,6,5,4,3 w/MVA and Quest 5 has a  5yr SC-8,7,6,5,4 w/MVA. All permit 10% free withdrawals after 1st yr and have a max issue age of 80. All have a $15k min premium, but Quest 5 & 7 are flexible and permit $1k or larger add-ons. All offer S&P 500 APP methods w/cap, monthly cap, monthly avg w/spread and vol-control w/spread and fixed rate option.   Voya myIncome GLWB has a 6.5% roll-up for 10 yrs with a 1% rider fee that can be increased to 1.5% after 5th yr. Sample Payouts(jt): Age 60 3.75%(3.25%), Age 65 4.75%(4.25%), Age 70 5.25%(4.75%), Age 75 5.75%(5.25%) Age 80 6.25%(5.75%), Age 85 6.75%(6.25%).
 


Nationwide Nationwide Summit and  Peak (5/16)
Both:  $25k min prem., max age 90 (85-joint), Surr period: 7yr-9,8,7,6,5,4,3 w/MVA. 10% free withdrawals.  Summit offers APP w/cap on S&P 500 and J.P. Morgan MOZAIC, Peak uses  S&P 500 and MSCI EAFE, both have a fixed option.  



Principal Secure Choice Indexed Annuity (2/16)
that contains a 4-yr (9,9,8,7), 5-yr (9,9,8,7 6), 6-yr (9,9,8,7 6,5) and 7-yr (9,9,8,7 6,5,4) surrender period. Min Prem: $10k, Max issue age: 85, 10% free withdrawals, min gtd of 90% at 1%. S&P 500 using APP w/cap or trigger method.  


Columbus Life Insurance Advantage (11/15)
is their first  FIA. Four allocation  options, fixed and 3 indexed interest options. 

Lafayette Life Marquis SP (11/15)
offers S&P 500 using APP w/cap or monthly avg w/cap, GS Momentum Builder Multi-Asseet Class 3-yr pt-to-pt and fixed account. min guar: 1% on 87.5%.
 


Penn Mutual Premier Foundation  (10/15)
launched Premier Foundation Indexed Annuities suite with 5yr-8,8,7,5,5; 8yr-8,8,7,6,5,4, 3,2 and 10yr-8.,8,7,6,5,4,3, 2,1 year surrender periods, 10 year has base 3% premium bonus on base. 10% free withdrawal after 1st yr.   Crediting includes fixed account and APP w/cap using S&P 500 or S&P Global Broad Market Index.   Also has GLWB with 8% roll-up, 0.90% rider fee; Rates: Ages 55-59 (4.5%/4%); 60-64 (5%/4.5%); 65-69 (5.5%/5%); 70-74 (6%/5.5%); 75-79 (6.5%/6%); 80+ (7%/6.5%).
 


Equitrust DynaMARC (9/15)
The flexible premium DynaMARC index annuity, offering the new managed volatility Goldman Sachs Dynamo Strategy Index with 1 and 2 yr APP terms or S&P 500 with 1 Yr APP w/cap or monthly cap and a fixed option. 10 yr-10, 10,10,10,10,9,8,7,6,4 w/MVA, 10% free withdrawals after 1st yr. Offers Strategic Income GLWB rider with 4% stacked roll-up for 10 years plus 10% bonus to income base.  



Athene New Performance Elite and Performance Elite Plus (7/15)
FIAs have $25k minimum, max issue age 80. Crediting choices are fixed account, 1 or 2 yr monthly cap, 1 or 2 yr pt-to-pt with cap, and 2 yr volatility controlled index. Indices include S&P 500 and Lenwood Volatility Control.  10 Yr surrender charge-10,9,8,7,6,5,4,3,2,1 with MVA; 10% free withdrawal. Elite offers a 1% premium bonus. For an annual fee of 0.85% Elite Plus offers a 6% bonus, return of premium (after year 4), and up to 20% cumulative free withdrawals if not taken in previous year.  

Performance Elite 14 and Performance Elite Plus 14 (7/15)
are identical with the exception of lower max issue age of 78, bigger bonuses: 5% Elite 14, 10% Elite Plus 14 (all annuities have bonus recapture); and 14 Yr surrender charge-14,13,12,11, 9,8,7,6,5,4,3,2,2,1.      

Guggenheim Life TriVysta (7/15)
has $10k minimum ($5k Qual), max issue age 81. 10Yr surrender charge-10,10,10,10,9,8,6,4,2,1 less MVA; 10% free withdrawals after 1st yr. offers S&P 500, Deutsche Bank CROCI Sectors II Index,  Morgan Stanley Diversified Select Index . Methods includes S&P APP w/cap, CROCI 5 yr participation rate, CROCI vol controlled 1 & 2 yr, Morgan Stanley vol controlled 1,2 and 5 yr. Living Benefit Withdrawal Rider adds 10% onto base and stacked roll-up adds 4% onto actual interest credited for up to 10 yrs, 0.9% rider fee.
    
Lincoln Financial OptiBlend (7/15)
introduces the Lincoln OptiBlend. Minimum $10k premium; Max issue age: 85 – 7 yr. 80 – 10 yr. Offers fixed   account. trigger (binary), APP with cap and volatility controlled with spread using S&P 500 Daily Risk Control 5%   Index. 10Yr surrender charge-9,9,8,7,6,5,4,3,2,1; 7Yr SC-9,8,7,6,5,4,3 with MVA, 10% free withdrawals. Lincoln Lifetime Income Edge GLWB is available as a rider, 0.95%  annual fee.      

Pacific Life Pacific Index Dimensions (7/15)
has minimum $25k premium; Max issue age of 80. Indices offered are S&P 500 and MSCE EAFE. Methods are for 1 or 2 yr periods: APP w/cap, participation rate less spread and enhanced participation rate less spread. Min guarantee 1% on 87.5%. 7Yr Surrender Charge-10,10,9.5,8.5,7.5,6.5, 5.5; 10Yr Surrender Charge-10,10,9.5,8.5,7.5,6.5,5.5,4.5,3.5,2.5 less MVA; 10% free withdrawals.  Enhanced Lifetime Income Benefit rider available, 0.75% fee.  




Voya Wealth Builder Six/Eight Annuities  (10/14)
are two simply designed consumer-directed annuities with short surrender periods and a bailout option. Max issue age 80, $15,000 minimum premium and min guarantee based on 87.5% of premium. Surrender charges: (Six) 10, 10,10,10, 9,8; (Eight) 10,10, 10,10,9,8,7,6. Charge free 5% annual withdrawal after 1st year. Optional bailout (Voya RenewalFLEX) waives charges if renewal rates are too low.   Offers APP w/cap and Trigger methods (S&P 500); fixed rate account. Also offers an Interest Rate Benchmark Multiplier based on changes in the 3-Month London Inter-Bank Offered Rate (LIBOR). Worth a look – this LIBOR Multiplier offers one of the few places where rising interest rates can directly translate into credited interest.  

American Equity S&P 500 Dividend Aristocrat Daily Risk Control 5% Index (9/14)
Volatility controlled index containing the Aristocrats Index and a cash component (accruing interest at 3 Month LIBOR). The Index is dynamically adjusted between the two components to target a 5% level of volatility. The S&P 500 Dividend Aristocrats Index is made up of S&P 500 members that have followed a policy of consistently increasing dividends every year for at least 25 consecutive years.

F&G Safe Income Plus (9/14)
S&P 500 crediting options include APP w/cap, monthly avg w/cap, monthly cap and fixed options. 87.5% min w/floating 1%-3%. 10 yr surr chg-12,11, 10,9,8,7,6,5,4,3. 10% withdrawals after 1st yr.GLWB offers a 8% bonus; roll-up may be restarted for up to 20 yr period. Payout (jt): Age 60-4.8%(4.1%); Age 65-5.3%(4.6%), Age 70-5.8%(5.1%), Age 75-6.3%(5.6%), Age 80-6.8%(6.1%). If 2 ADL impaired base benefit doubles (increases by 150% if joint)
GLWB fee 0.95%.

Integrity launches Indextra (9/14)
An FIA with a minimum premium of $15,000 and 7 and 10 yr surrender periods. Crediting methods include fixed account, APP w/cap, monthly average and a 3 yr pt-to-pt using Goldman Sachs GS Momentum Builder Multi-Asset Class Index.

 

Allianz Essential Income (6/14)
is an FIA filed (SERFF# ALLD -129583781) in June. With 7 yr Surr Chg 8.5,8,7,6,5,4,3; 10% free withdrawals based on premium after 1st yr. Offers APP with cap using either S&P 500 or Barclays US Dynamic Balance Index & fixed option. Guaranteed min 1% on 87.5% premium. GLWB payout increases for each year withdrawals are delayed; changeable annual fee of [0.85%-2.5%] for the 1st 7 yrs with a maximum of {0.85%] therafter.

Athene Benefit 10 Annuity (6/14)
has filed the [Benefit 10] fixed index annuity (SERFF Tracking #: AMER-129497153) with 6 possible crediting methods: APP w/participation rate, APP w/cap, APP multiple index, monthly average, monthly cap and fixed. The filed [specs] are 10 year surrender schedule 12,12,12,11,10,9,8,7,6,4; vested bonus. The optional enhanced benefit rider offers [8% roll-up for 5 yrs, 5% thereafter, simple interest]; enhanced income benefit may also increase income if unable to perform at least two Activities of Daily Living.
 

Midland National Life LiveWell (6/14)
Broadening the brand of the LiveWell Mutual Fund and the LiveWell Variable Annuity comes the LiveWell Fixed Index Annuity. Max issue age 85; min prem $10,000 plus $1,000 additions. 8 Yr Surrender Charge: 8,8,8,7,6,5,4,3 with MVA; 10% free withdrawal after 1st year. Offers a fixed account and S&P 500 with APP to cap. GLWB has 0.85% fee and 8% simple interest roll-up that tops at 200% of premium. Also offers a Guaranteed Death Benefit growing at 5% simple up to 200% premium; 0.35% fee. This is a clean & simple annuity story.
 

F&G Performance Pro (3/14)
an index annuity offering the  
Dow Jones U.S. Real Estate Daily Risk Control 10% USD Total Return Index which uses a 5 yr pt-to-pt less spread. Staying with the hard asset classes the FIA also offers a Gold Commodity index using APP w/cap. In addition, the S&P 500 with choice of 1, 2 or 3 yr pt-to-pt w/cap plus a monthly cap method are available, all bundled along with a fixed account. The FIA has a 10 Yr Surrender Charge–14,13,12,11,10, 8,6,4,2,1 with 10% free withdrawals after 1st yr. Min guarantee on 87.5% of Prem. GLWB with several enhancements is also available.

Nationwide New Heights (3/14)
mixes 1% fixed rate account with 2-year S&P pt-to-pt less spread: As of (10 Feb) 30% Fixed (1.85% spread); 40% Fixed (0.95%); 48% Fixed (0.45% ). Surr Chrg 10 yr: 10, 10,9,8,7, 6,5,4,3,2 w/MVA. 7% Free Withdrawals until year 11 then 10%/yr. Max Age 80; Min Prem $25,000. Min Guarantee: [1%] on 87.5%. 3% bonus rider (vests over 10 years). High Point 365 GLWB rider has 2% Roll-up Rate for 10 years; minimum deferral period of 5 years after issue. Payout factors are expressed as a combination of age and contract years. High Point Enhanced Death Benefit increases DB by minimum 4% up to 200% of premium. Annual Rider fees: High Point 365 GLWB with 3% bonus (1.25%), no bonus (0.95%); High Point Enhanced DB with 3% bonus (0.80%), no bonus (0.50%).

PHL Variable Phoenix Personal Retirement Choice FIA (3/14)
with up to a 15% premium (vested) bonus. S&P 500 crediting options include 1 & 2 yrs terms by rate or cap, monthly cap and fixed account. Min prem $15,000. Max age 80. Surrender Charge: 12 yr-15,15,15,14, 13,12,11,10,9,8,6,4 w/MVA. GLWB rider with 8% simple interest roll-up for 12 yrs is available at 0.85% fee. Payout factors: Age 65-4.75%, Age 70-5.25%, Age 75-5.75% Age 80+ 6.25% (spousal 0.5% less)

SBL & Morgan Stanley (3/14)
To the Secure Income Annuity that offered S&P 500 with annual or monthly cap options Security Benefit Life has added the Morgan Stanley Dynamic Allocation Index. Created in September 2013, the MSDA shifts from U.S. & global equities to bonds to short-term Treasuries to gold & real estate based on volatility. Morgan Stanley deducts on a daily basis a servicing cost of 0.50% per annum. The FIA deducts a spread from calculated returns.

Hypothetically, the net annualized return from May 1999 through December 2013 was 5.00%. For comparison purposes, this is the same return produced by the S&P 500 using APP and an 8.5% cap. From December 2008 through December 2013 the net annualized MSDA hypo-return was 7.91%. For comparison purposes, this is the same return produced by the S&P 500 using a 3.7% monthly cap.

 


Great American American Legend III (2/14)
Max age 85, min prem: $10,000; 10% penalty-free withdrawals beginning 1st year. 7 yr SC 9,8,7,6,5,4,3. APP with cap - Gold index; S&P 500 APP at 12 & 18 months term w/cap, monthly cap & fixed account. Riders: Inheritance Enhancer Rider has 9% simple 10 yr roll-up and 0.85% fee.  Income Secure with 7 yr 10% simple roll-up and 0.85% fee. Income Sustainer Plus with 12 yr 8% simple roll-up and 1.25% fee.


Allianz Offers New Barclays US Dynamic Index  (9/13)
 is an active index that allocates between the S&P 500 and Barclays Capital U.S. Aggregate Bond Index based on daily market volatility. The Allianz FIA methods will use an APP with yield spread approach.


Genworth SecureLiving (7/13)
Index 5 has a maximum issue age of 85, minimum premium $25,000. 5-Yr surrender schedule: 9,9,8,7,6 plus MVA. 10% withdrawals after 1
st year. Guaranteed minimum accumulation value is cleverly shown as 104% of premium at end of surrender period. Offers 5 year fixed rate and APP w/cap, monthly cap, trigger (binary) on S&P 500 with bailout rates.

MNL SecureVantage Series (7/13)
10 and 14 year version with 5% premium bonus. Maximum issue age 75 (14), 79 (10), minimum premium $25,000. 14-Yr surrender schedule: 10% 1
st 5 yrs, 9,8,7,6,5,4,3,2,1 plus MVA; 10-Yr surrender schedule 10% 1st 5 yrs, 9,8,6,4,2 plus MVA. 5% withdrawals after 1st year (cumulative to 10%). Crediting methods: APP w/cap, daily average less spread, monthly average, monthly cap, inverse performance trigger. S&P 500, S&P MidCap 400, Dow, Nasdaw 100 gold index, and fixed options. Guaranteed Minimum Death Benefit (GMDB) that bumps death benefit by 3% over actual interest earned annually (max of 210% of premium. Optional GLWB rider has 4.5% stacking rate, 0.95% rider fee. Payouts at age 60: 4.25% (3.75%-jt) increase 0.1% for each year delayed thereafter.

Security Benefit (7/13)
announced an interest-crediting option for
its Total Value Annuity. The Transparent Value Blended Index Account. Transparent Value (TV) is a decade old company that Guggenheim bought a controlling interest in in 2009 which by “utilizing patent-pending processes and innovative technology...aims to provide investors with risk-adjusted returns by fusing the insights of fundamental analysis with the transparency of a disciplined, rules-based stock selection and portfolio construction process.”

 The Transparent Value Blended Index “aims to dynamically allocate weights between the Price Return version of the Transparent Value Large-Cap Defensive Index (Stock) and the S&P 2-Year U.S. Treasury Note Futures Total Return Index (Bond)” and is TV’s newest index with a launch date of 20 March 2013, so it has no return history. Transparent Value says to understand the concept one should see the movie “Moneyball”    http://data.transparentvalue.com/TVDataProvider/PDF/MoneyBall/NEW%20Moneyball%20flier.pdf


Lincoln National Prime Income Optimizer FIA (6/13)
intends to launch the Prime Income Optimizer FIA (#13-617) on 1 July as a proprietary product for Primerica reps. This flexible premium FIA offers both a fixed account and S&P 500 indexed option. Crediting methods filed are APP with cap, APP with yield spread, monthly averaging, monthly cap and trigger methods. Maximum age 80 and minimum premium $10k. The [surrender charge] is 10 yr - 9,9,8,8,7,6, 5,4,3,2 with MVA.


American General Choice Index 10 (5/13)
launched
AG Choice Index 10 index annuity with AG Lifetime Income Plus that has a 7% roll-up for 10 years, compounded. Payouts (joint) age 60-64: 4.25% (3.25%); 65-69: 5% (4%); 70-74: 5.5% (4.5%); 75+ 6% (5%). Rider fee 0.95%. Offers 4% premium bonus (recaptured). Crediting is a fixed account or the S&P 500 using APP w/cap or monthly cap. Min. 1% on 87.5% of premium. Surrender charges (10,9,8,7,6,5,4,3,2,1) with MVA.

Midland National Life IncomeVantage (5/13)
introduced the
IncomeVantage series with a 5%, compounded, stacked roll-up for up to 20 years and a 5% GLWB bonus. Single Payout is age 50-59: 4..25%, age 60: 4.75% with payout increasing 0.1% for every year deferred (joint payout is 0.5% less). Index choices includes S&P 500, S&P Midcap 400, Dow, Nasdaq 100, gold and fixed account. Crediting methods include APP w/cap, monthly cap, monthly, 3 yr monthly average and inverse trigger. Surrender Charges Choice 14 (10%-5yrs, 9,8,7,6,5,4,3,2,1); Choice 10 (10%-5yrs, 9,8,6,4,2) with MVA. 

North American Company IncomeChoice (5/13)
introduced the
NAC IncomeChoice Series with a 5%, compounded, stacked roll-up for up to 20 years and a 5% GLWB bonus. Single Payout is age 50-59: 4.0%, age 60: 4.5% with payout increasing 0.1% for every year deferred (joint payout is 0.5% less). Index choices and surrender charges same as Midland's IncomeVantage Series. 

PHL Phoenix Income Elite (5/13)
FIA was launched 16 April. GLWB offers 12% roll-up, compounded, for 10 years. rider fee 0.95% of Benefit Base; fee cannot exceed interest earned. Payout at age 60: 4.45%; 65: 4.9%; 70: 5.78%; 75: 5.68% - joint is 0.5% less. Fixed account and S&P 500 with APP w/cap, biennial pt-to-pt w/cap and monthly cap. Surrender charges (15,14,13, 12,11,10, 9,8,7.6). Issue ages 50 - 75

Principal Introduces DIA (5/13)
Announced on 16 April the
Principal Deferred Income Annuity is designed to begin paying a guaranteed income in 13 months to as late as 30 years. This Flexible Premium Deferred Paid-Up annuity –filed with a cost of living rider – allows the owner to change the income start date once during the contract.


Aviva TargetHorizon (4/13)
TargetHorizon 15 offers a 6% (7% $50k+ prem) bonus and has a 15 Yr (15,15,14,14,13,13,12,11,10,9,8,7,6,5,4) surrender schedule. The
TargetHorizon 10 offers a 3% (4% $50k+ prem) bonus and has a 10 Yr (10-4,9,8,7,6,5,4) surrender schedule; free withdrawals are 5% after 1st yr. Besides a fixed account it has APP, averaging and monthly cap as well as a 5 yr term-end-point (TEP). The Target Pay/Target Pay Plus rider costs 1.25%. A clever aspect is TargetReserve which allows the owner that doesn’t take the maximum payout in a year to save the difference for future use. The GLWB will triple the payout for up to 5 years if owner is confined to a nursing home. The Target Pay effective roll-up rate decreases over time (adjusting for age-factor payout increases) For example, the increase in income in the brochure example is 9.26% from age 67 to 68, but only 4.95% from age 78 to 79; the effective roll-up result is based on issue age. The Target Pay Plus works like a stacked roll-up adding the roll-up to interest earned.

ING Lifetime Income (4/13)
Annuity has a 15k min prem, 9 yr (9,8,7,6,5,4,3,2,1) surrender schedule, permits 10% withdrawals after the 1
st yr. Provides an optional death benefit up to 225% of premium (if paid over 5 yrs or 75% of max benefit if lump sum). Instead of annual roll-ups the benefit floor boosts 50% after 5 years and 225% after 10 (8.45% effective compounded roll-up rate). There also is a stacking effect.

Sentinel Security Life Bonus Index 10 (4/13)
Summit Bonus Index 10 Yr (9,8,7,6,5,4,3,2,1,1) surrender schedule with MVA, 5% withdrawals after first year. 5k min premium. Premium bonus 5.5% (8%-FL) vesting. Offers fixed account plus S&P 500 to APP or monthly or daily avg all w/cap, & monthly cap. Taking the GLWB option adds 1% to the initial bonus so income account is credited with 6.5% (9%-FL) bonus and then begin a 7% compound roll-up up to 20 yrs  with 1.05% (1.5%-max) fee. Payout at age 55 is 4.5% (4%-Jt) and increases 0.1% for each year delayed.


Allianz 222 Annuity (2/13)
This index annuity has a  minimum premium of $20,000 and will accept additions for  3 yrs. Max issue age: 80. Crediting methods are annual-pt-to-pt & monthly cap with S&P 500, Nasdaq 100, or EuroStoxx 50. Monthly Average with spread uses blended mix (35% Dow, 35% Barclay’s U.S. Aggregate Bond Index, 20% EuroStoxx 50 and 10% Russell 2000).
Surrender Period: 10 yr (10, 10,10,8.75, 7.5, 6.25, 5, 3.75, 2.5, 1.25); 10% free withdrawal after 1st year. Minimum Guarantee: 87.5% of premium growing at minimum of 1.35%/yr for 10 yrs, then 1% minimum thereafter. 

The GLWB offers a 15% income account bonus; Not a roll-up, it uses a stacked method where income growth is credited with 150% of actual interest earned (to realize bonus or stacked credit a 10-year waiting period is required) Payouts (Joint) age 60-69 5% (4.5%), 70-79 5.5% (5%), 80+ 6 (5.5%). Payout doubles if confined to a nursing home/hospital for 90 days or more. No GLWB rider charge (a Death Benefit Rider is available for an additional annual charge as is a Flexible Withdrawal Rider).

Security Benefit Foundations Annuity (2/13)
Foundations Annuity
is an index annuity with a  minimum premium of $25,000 and maximum issue age of 80 with a 1% premium bonus. Minimum Guarantee: 87.5% of premium growing at 1%. Crediting methods are annual-pt-to-pt, Monthly average & monthly cap on S&P 500. Surrender Period: Foundation 5 (9,8,7,6,5); 7 yr (9,8,7,6,5, 4,3); 10% free withdrawal after 1st year. A Return of premium option is available on the 5-yr product.The GLWB rider is an 8.5% simple interest roll-up for 15 yrs. Payouts (Joint) age 50-80 begin at age 50 at 4% (3.5%)and increase 0.1% for each passing year payout is deferred. The cost is 0.9% on benefit base.


LSW SecurePlus VIP (12/12)
Pioneering the distribution channel that will result in many fixed annuity sales by 2020 (AC, Winter 10) LSW introduces the
SecurePlus VIP (Value and Income Plan) for the 401(k) market. In connection with the pension experts at ExpertPlan, the LSW FIA may be offered as a guaranteed income choice on a 401(k) platform.
The annuity itself is straightforward with a 10 yr surrender period, choice of annual reset index options or fixed account and a GLWB with a 6% rollup (the rider charge is 0.7%). It has a flexible premium accepting as little as $50 from a buyer as young as age 25. 

A couple of the bugaboos in getting pension plan administrators to accept index annuities in 401(k) plans were a lack of daily pricing on the annuity value and the commission structure. LSW solved these problems offering daily asset pricing and an annualized commission based on FIA account value. Here’s the biggest deal. The design of this annuity, along with having ExpertPlan already in place, means that independent agents can now market index annuities to small business 401(k) plans. Enterprising agents can approach existing key-person or health insurance small business clients, or new small businesses, and give them a way to offer employees a lifetime “pension” from their 401(k) plan. LSW will begin training early next year.


Allstate Right Fit (9/12)
The Allstate Right Fit annuity was introduced in 2011 as an “indexed linked annuity contract” registered as a security. Because of its design it may credit a gain or loss in any given year. The product allows higher caps on calculated gains if the annuityowner will accept the possibility of losses based on index movements, subject to limits on those annual losses. I do not do hypothetical modeling on securities, but I have had people ask me how a fixed annuity might perform if one could record years with losses, as opposed to a zero gain floor, in exchange for higher performance caps. The following is a hypothetical look at this fixed annuity scenario.

I applied three different annual reset formulas to calendar year movements of the S&P 500 from 1961 through 2011. I then calculated both the annual gain or loss for each year and the annualized gain or loss over 10 year periods. For the first formula I assumed a cap or ceiling on gains of 2.5% and a 0% floor – the worst return in any year would be zero. For the second formula I assumed a cap or ceiling on gains of 5.75% and negative 4% floor – the worst return in any year would be a loss of 4%.For the third formula I assumed a cap or ceiling on gains of 8.75% and negative 8% floor – the worst return in any year would be a loss of 8%. Here’s what I found:

 

Of these 51 years 37 or 72.5% had gains; 33 or 64.7% had gains over 2.5%, 30 or 58.8% had gains over 5.75%. The 8% limit on losses prevented steeper losses in 11 of the 14 negative years. The median returns were the respective 8.75%/5.75%/2.5% caps. The average return for individual years was 3.51% for the 8.75%/-8% formula, 2.72% for 5.75%/-4% formula and 1.71% for the 2.5%/0% formula. The average annualized return for 10 year periods was 3.22% for the 8.75%/-8% formula, 2.60% for the 5.75%/-4% formula and 1.70% for the 2.5%/0% formula. None of the formulas produced a loss over any ten year period. The 8.75%/-8% formula generated 5% or better annualized 10 year returns in 9 periods and 4% or better 10 year returns in 14 periods. The highest 10 year annualized return for the 5.75%/-4% formula was 3.92% and the highest 2.5%/0% formula return was 2.09%.

Assuming that the caps and loss limits reflect similar pricing constraints, the strong indication is accepting a limited loss in exchange for a higher cap on gains may produce significantly higher returns without a corresponding increase in the risk of getting a lower return or a loss over 10 year periods.


Phoenix (PHL Variable) Personal Protection Choice  (7/12)
is a collection of riders built around an FIA. Max age 85; 15k min premium. In addition to a fixed account it offers 1-yr APP w/cap for S&P 500, DJIA. Equro Stoxx 50 & balanced allocation, 1 yr monthly cap, 2-yr APP w/cap, 5-yr Term End Pt averaging last 6 months (S&P 500). 10 yr SC 12,12,12,11,10,9,8,7,6,4  (MVA), 10% withdrawals after 1
st yr, min based on 87.5%.
The chronic care benefit is available if owner is unable to do 2 of 6 ADLs and increases the GLWB payout by 25% to 150% for up to 5 years depending on age and qualification level (whether ADLs or ADLs & nursing home). 

The GLWB offers a 30%-yr 1, 37.5%-yr 2,45%-yr 3  income benefit bonus plus 3% simple interest roll-up after 3rd year or a 14% annual roll-up, simple interest for 10 years. The payout factors for the bonus approach are reduced from 0.15% (ages 65-74), to 1% (age 85+). The death benefit increases the premium by 5% (ages 71-85) or 10% simple interest (based on age) for up to 10 years. Rider Fees: 14% GLWB 0.75%, bonus GLWB 0.90%, Income & Care riders 0.95%; other combos 1.15% (1.5% max).


Allstate IncomeProtector and GrowthProtector (6/12)
Both offer a 6% premium bonus, vesting over 10 years with choices of a fixed account or S&P 500 APP w/cap. 10 yr SC: 10,10,9,9,8,8,7,6,5,4 (MVA), bailout, and 10% free withdrawals. Max age is 80 (GrowthProtector – 85) and minimum premium is $5,000. The IncomeProtector has a strong GLWB with a 7% roll-up rate – the income (base) account value is guaranteed to be the double the original premium after 10 years (assuming no withdrawals). This is a change. The original GLWB (the LBL Lifetime Income Rider) increased the payout factor as years went by meaning it performed better than most other GLWBs if the index linked interest earned also did well. The new roll-up offers more protection in a low earnings environment Payout factors of : Age 50-54 3.25%; 55-50 3.75%; 60-64 4.25%; 65-69 4.75%; 70-74 5.25%; 75-79 5.75%; 80+ 6.25%. The payout goes up when you hit the first 5-year milestone (i.e. if you started at age 63 with 4.25% the factor increases to 4.75% when you hit 65). Annual fee is 0.95%.

LSW SecurePlus Paramount 5 (6/12)
is designed for 403(b), 457(b) and IRA markets with a low $3,000 minimum ($100 if flow premium (salary reduction). It pays a 5% bonus on all contributions for first seven years that is immediately vested. Crediting methods included S&P 500 and Russell 2000 using APP w/cap and S&P 500 using daily averaging. 10 year (no MVA) surrender charge 10,9,8,7,6,5,4,3,2,1. 

Oxford Life Bonus Ten (6/12)  
A reaffirmed “B++” Best Rating and a new annuity. The
Bonus Ten  offers a 10% premium bonus, vesting over 10 years with choices of a fixed or two S&P 500 index options – APP or monthly averaging, both w/cap. 10 yr SC: 10,9,8, 7,6,5,4,3,2,1 (MVA) and 10% free withdrawals after 1st year. Max age is 80 and minimum premium is $20,000. The Bonus Ten has a very strong GLWB with an 8% compounded roll-up rate and payout factors of (jt): Age 50-59 4% (3.5); 60-69 5% (4.5); 70-74 5.5% (5); 75-79 6% (5.5); 80+ 6.5% (6) with a low rider cost of 0.5%. The Oxford Life Bonus Ten GLWB is among the most competitive on the market at this time.


Security Benefit TVA w/TVI (5/12)
Total Value Annuity
$25,000 minimum premium, Issue Ages: 0-80, Min Guar: 87.5% at 1%-3%, 10 year SC (10% 10% 10% 10% 10% 9% 8% 7% 6% 4%) with MVA  (nursing home/terminal illness waiver). The charge also applies if you annuitize (except in FL). Premium Bonus: 8% bonus in most states if rider not purchased; up to 10% bonus if a rider is purchased, (Recap- tured 100% yrs 1-6, 80%-7yr, 60%-8yr, 40%-9yr, 20%-10yr) 10% free withdrawals after 1st year. However, any withdrawals or rider charges deducted from the 5-year TVI account receive a partial interest credit that will negatively affect the total interest credited. Offers Fixed Account, S&P 500 using APP to cap, and 5 year term end point using TVI with annualized yield spread.

GLWB: 4% roll-up plus actual interest credited, can renew for another 10 years if under age 80, stops at age 85. Payout 4% (3.5% joint) Age 50, increases 0.1% each year withdrawals delayed (5.5%(5% - age 65, 6.5%(6% - age 75) - doubled for up to 5 yrs if ADL problems. Cost 0.95% (1.8% max). Death Benefit: 4% roll-up plus actual interest credited. Maximum 300% of premium. Cost 0.95% (1.8% max) You may add either rider but not both.

Total Value Annuity Linked TVITM Index
Inside the new
Security Benefit Total Value Annuity is the Trader Vic Index. The TVI is not named for the Polynesian restaurant, but for Victor Sperandeo, a Wall Street trader and speculator with a 40 year career. Half of the portfolio is in foreign currencies and U.S. Treasury rates and the other half is in commodities, with energy comprising over a fifth of the total. The allocation of the sectors will not change. The energy sector will never be shorted, but every month the other sectors will go long or short based on the performance of its exponential moving average.

The Annuity Linked TVI is truly unique. Although a term end point (observed index period is longer than two years) less annualized yield spread design was first used in 1996, and Symetra introduced a commodities index in 2011, I don’t believe anyone has used a method where index positions could move from long to short and back again. In addition, the use of a volatility overlay on the original TVI creates a bit of a black-box approach to determining gains.

Normally when I see a new crediting method I calculate the returns using the current factors and apply them to historical periods. This doesn’t say how the new method ‘wouldda’ done, but how it ‘couldda’ if these were in place. It allows me to compare how different methods react, but it isn’t meant to be real returns. I couldn’t do that with this annuity because I have no way of knowing when and which index sectors would go long or short, and I don’t have the formula for the volatility overlay. So I’m not going to show any type of hypothetical returns. But what I would like to talk about how I see the Annuity Linked TVI.

History
When I began publishing hypothetical results
using historic index movements in the ‘90s I only showed the S&P 500 and the Dow Industrials, even though other indices were offered on some index annuities. The reason for not including the others was short histories – I wanted my backcasting to include at least 30 years and preferably 50. The TVI index went live in June 2009 and the volatility overlay is brand new. However, the movements of all of the underlying components can be traced back at least 20 years, if not 30, which means past movements can be reconstructed. It is possible to determine the ‘couldda’ return and I have seen hypothetical results of the TVI with annuity overlay back to 1991.

Opaqueness
Whether you average index values, cap them, or allocate them, it is comparatively easy to build models to calculate returns – if you know the time period and fees of an annuity your calculation of the return will be the same as announced by the carrier. Although it is possible to reconstruct the components of the Annuity Linked TVI it is very difficult to know when the index operators may be going short or long in a component, because that depends on how the exponential moving weighted average performs and I cannot find this calculation. Any calculation is further complicated by not knowing the formula behind the volatility overlay. However, at present the daily movements of the Annuity TVI are available at http://www.bloomberg.com/quote/ALTVI:IND providing a high degree of openness. 

5-Year Term End Point
An option giving an investor the right to buy or sell something at the end of a 5 year period costs more than an option that will expire in 1 year due to its time value, but it doesn’t cost 5 times as much. Since one 5 year option costs less than five 1 year options you can buy more of the 5 year given the same amount of money. This is why annuities that don’t reset annually are able to provide higher participation rates or higher caps – in the case of the TVI, no cap, but it does charge a 1.25% annual yield spread. However, the volatility overlay being used has the same effect as an additional fluctuating yield spread fee in that it reduces the possible interest credited. That being said, the purpose of the volatility overlay is to further reduce the cost of hedging the annuity. To provide a 100% participation rate in the current environment requires limiting gains; apparently it was felt that this method to reduce positive gain volatility was more attractive than using hard or soft caps.

The other aspect of not resetting annually is it increases the odds of being affected by bad times. S&P 500 index terms ending in 2002 through 2005 were hammered and so more index buyers shifted into buying annual reset designs. Indeed, as I write this the TVI index is below where it was in June 2009. However, the Annuity Linked TVI would have hypothetically produced positive returns for those bad stock index 5-year periods.

Correlation
Correlation refers to the extent one thing tracks another. Movements of stock indices tend to track one another with correlations greater than 50% – when one zigs the others zig. Some things historically have not done this; in fact they may zag when the stock markets zig. The Annuity Linked TVI materials say that it is designed not to correlate with the broader equity markets.
Oil, gold, Swiss Francs and soybeans over the last 20 years have a correlation of roughly 0% meaning they were all uncorrelated with the S&P 500. If you take things like these and add in shorting, you can create something that moves nothing like the S&P 500. 

Correlation is neither good or bad. One of the reason Swiss Francs have zero correlation is the long-term return is a third that of the S&P 500. However, on paper, the TVI index compares very favorable with equity index based returns, especially at current equity index participation levels.

Complicated
It is sometimes argued that index annuity crediting methods are complicated; the Annuity TVI could be a poster child of the complicated FIA. It is not that the index is complicated – the TVI has 24 components versus 500 in the S&P 500. The Annuity Linked TVI gives you 100% of the period gain – which is much simpler than the 12 line algorithm I created to figure out the Keyport Multipoint method. The complication arises from being able to go short or long during the period and the effects of the volatility overlay algorithm. My strong belief is while an agent or annuitybuyer can be made to understand the theory behind the Annuity Linked TVI that they could never figure out how their actual return is being credited. However, there are billions of dollars invested in securities using “proprietary algorithms” that are never adequately explained and even explained investment strategies that the typical investor never understands.

Summary
I have previously said if index annuities add on commodities or other indices that weakly correlate with the broad-market indices currently offered that they may offer diversification that provides positive returns during times when the S&P 500 is declining or enhanced returns in positive times. I’ve also said that in a low bond yield environment that targeting specific investment themes is one way to get caps or rates high enough to encourage sales by providing the
potential for meaningful returns. The Annuity Linked TVI accomplishes both of these. 

I am not particularly concerned over the TVI’s lack of history. My strong feeling is that the financial world over the next decade will be unlike those previous, so that basing decisions over long-term history is a flawed approach – better no history than a misleading one. The fact that the return of one item is uncorrelated with another is only meaningful depending upon why it is uncorrelated. The TVI is intended to be uncorrelated with stock markets. This could be good if the stock markets produce poor or negative returns over the time period, and neutral to bad if the stock markets soar. Correlation is neither good nor bad, it just is. However, having assets that zag when the stock market zigs is a well accepted investment planning fundamental.

The murkiness created by the ability to go long or short, combined with the volatility overlay, means one won’t know what the annuity return is until they are told by Security Benefit. If the Annuity Linked TVI continues to by published on Bloomberg then performance can be tracked, but it will be very difficult to be modeled. What this means is one can’t plug in a set of assumptions and see how the hypothetical returns of this method compares with other methods. Using a five-year crediting period increases the likelihood of zero returns when compared with using an annual reset approach. However, I feel the increased index participation afforded by the five-year more than offsets this risk. If a client is uncomfortable with the five-year period then they should split their premium between the annuity’s annual reset and 5-year options.

Although the future returns of many products are unknown the Annuity Linked TVI method has a large black-box aspect. While the index parts and the yield spread are known and constant it is unknown how the index parts will go long/short and to what extent the volatility overlay will cut into positive returns. However, the vast majority of index annuity buyers live with the uncertainty that their annual rate or cap or spread could be cut to the minimum in any given year. Buying an annuity from any carrier requires the buyer to trust that the carrier will treat them fairly.

Conclusion
The Annuity Linked TVI approach is the most creative and proactive reaction to low yield times offered to date. It is truly new and allows for the possibility of achieving meaningful returns.


LFG OptiChoice New York (3/12)
Lincoln Financial introduced OptiChoice, its 1st New York index annuity with 5 ,7 and 9 year surrender period choices, a fixed account or modified trigger method index linked to the S&P 500 (policy guarantees a base rate of 1%-3% will be credited plus an additional amount if the index does not decline). $5,000 minimum premium plus flexible add-ons.

The Standard Index Select (3/12)
a 5 year (7,6,5,4,2) or 7 (7,6,5,4,3,2,1) year surrender period with MVA. Interest is linked to the S&P 500 at 100% APP with 3.4%-5 yr/3.6%-7 yr cap or a fixed 1.7% account. Maximum issue age is 90; $15,000 minimum premium; minimum guarantee is 87.5% floating rate.


Allianz 365i (2/12)
offers a 6% premium bonus (vests 10%/yr after 1st yr), also offers a 25% death benefit bonus rider, needs a $20,000 minimum premium and has a 10 year Surrender Charge (10,10,10, then decreases 1.25%/yr), 10% free withdrawal and minimum guarantee of 1.95% for 1st 10 yrs (1% after) on 87.5% of premium. So far, 32 states have given approval. In addition to a fixed account the individual S&P 500, Nasdaq 100, EuroStoxx 50 and the Select S&P 500 are available in Annual pt-to-pt (APP) and monthly cap mode. The blended index (35% Dow, 35% Barclays Capital U.S. Aggregate Bond, 20% EuroStoxx 50 and 10% Russell 2000) is available using APP or monthly averaging. A new twist is if the Select S&P 500 index is chosen a higher cap is offered, at an additional charge of 1% of accumulated value allocated to that option.

Midland National RetireVantage 14 & 10 (2/12)
with either 14 year (5 yrs@10, 9,8,7,6,5,4,3,2,1 ) or 10 yr (10,10,9,9,8,8,7,6,4,2) MVA surrender schedules. Max Age: 79 (10), 75 (14). Bonus is 3% (RV10) 5% (RV 14) on premiums received in the 1st 5 years (and recaptured over surrender period). In addition to a fixed account methods include daily average less spread, monthly cap, monthly averaging, a reverse trigger, and annual pt-to-pt with cap. Available indices include S&P 500, Dow, S&P MidCap 400, Nasdaq 100 and Gold. An interesting rider is available: For a cost of 0.6%/yr you get a 10% bonus instead of 5% (or 6% bonus instead of 3% on RV 10), a return of premium option, up to 20% annual withdrawals if no withdrawal is taken the previous year, and if you annuitize 2% is added onto your accumulated value.  

Pacific Life Index Choice (2/12)  
The delayed launch on their Pacific Index Choice GLWB occurred featuring an 8% (simple) roll-up rate, 0.75% (max 1.5%) cost and payouts (jt) of 59-69 5% (4.5%), 70-79 6% (5.5%), 80+ 7% (6.5%).


Hartford Saver Solution (12/11)
The Hartford Saver Solution (5 or 7 yr , S&P  500) and The Hartford Saver Solution Choice (5, 7, 10 yr, S&P 500, Global, 5% bonus) mentioned in October have launched. They offer APP w/cap, trigger or fixed options.

FG AccumulatorPlus 10 & 14 (12/11)
are new FIAs from Fidelity & Guaranty offering very attractive caps. In addition to a fixed account they offer APP & monthly average (min. cap 3%) and monthly cap & Trigger (min. cap 1%). Min. guarantee based on 87.5%; min. premium is $10,000.
SC 10 yr: 12, 11, 10, 9, 8, 7, 6, 5, 4, 3. or 14 yr: 14.75, 13.75, 12.75, 11.75, 10.75, 10, 9, 8, 7, 6, 5, 4, 3, 2 with nursing home, terminal illness and unemployment waivers


Allianz 360 Annuity (9/11)
Min Premium: $20,000 – may add to it during 1
st 3 yrs. Indices: S&P 500, Nasdaq-100, EuroSTOXX 50, blend (35% Barclay’s Capital U.S. Aggregate Bond Index, 35% Dow Jones Industrial Average, 20% EuroSTOXX 50, 10% Russell 2000), fixed account (0.5% min). Methods: 100% p-rate always APP cap, monthly average less spread, monthly cap. Surrender: 10 yr – 10,10,10, 8.75,7.5,6.25, 5,3.75,2.5,1.25 (or full value after 5 yrs if you take interest for 5 yrs or annuitize). Withdrawals: 10% after 1st yr, GMV: 87.5%, 1st 10 yrs no less than 1.35% then 1%. Bonus: Before withdrawals begin accumulation value receives 1.5 times the interest rate earned after applying crediting formula (e.g. if the annuity option maxed out at a 3% the accumulation value would be credited 4.5%) 360 (GLWB). Benefit Cost: 0.95%. Option 1: life payout based on factor when withdrawals start. Option 2: payout based on any growth of account value after withdrawal begin – if payout factor is 3.5% on $100 and earn 2% interest earned then next year payout is 3.5% on $102.  

360 (GLWB) Benefit Factor:  Option 1 (jt)/Option 2 (jt) [Payout Growth]   Age 55 4.5% (4%)/3.5% (3%) [.35%];  Age 60  5% (4.5%)/4% (3.5%) [40%]; Age 65   5.5% (5%)/4.5% (4%) [.45%]; Age 70  6% (5.5%) /5% (4.5%) [.50%]; Age 75  6.5% (6%)/5.5% (5%)  [.55%]; Age 80  7% (6.5%)/6% (5.5%)  [.60%]

Comment: The disclosure does an excellent job of pointing out the effects of a long-term worse case scenario on policy values.  

American General AG Lifetime Income Builder (9/11)
offers a 6% compound roll-up rate for up to 20 years plus annual step-up provision. If withdrawals are delayed 10 year the payouts are guaranteed to grow by 2%/year during the payout phase. Cost: 0.75%   Age: Initial Payout Factor (Jt)   60: 4% (3.5%); 65:4.5% (4%); 70: 5% (4.5%); 75: 5.5% (5%); 80: 6% (5.5%)


ING Adds LIBOR Strategy (8/11)
A new crediting method for existing index annuities is to be unveiled this month. The
Interest Rate Benchmark measures positive changes in the well known London Interbank Offered Rate LIBOR benchmark rate and applies a Multiplier. For example, if the interest rate benchmark number increased 1.5%, and the Multiplier was 4, the interest earned would be 6%. The Multiplier and Interest Rate Benchmark Cap are denominated in U.S. Dollars, guaranteed for one year, and may change annually. The strategy benefits from a rising interest rate environment and is a welcome addition to the methodologies offered.  

PHL CommandMark (8/11)  
PHL Variable launched the
CommandMark FIA (11LIA) marketed by Legacy Marketing Group. The annuity has a 10 yr surrender schedule with MVA. In addition to a fixed account it offers pt-to-pt with cap for S&P 500 and Gold, and pt-to-pt with a multiplier strategy that calculates changes in the U.S. 10-Year Swap Rate and multiples positive movements up to a cap. The product also offers bonuses that vest over time.
The deferral period can be as short as 2 years or as long as 40 years. The annuity income may be for joint lives and include inflation protection.

New York Life Guaranteed Future Income Annuity (8/11)
The retro annuity collects single or multiple year premiums and pays out a future life income.
My retro reference is not intended to be snarky, but a recognition that annuities are returning to their true purpose which is to provide a safe and predictable income. I expect to see clones of New York Life’s new deferred income annuity in the days to come. 


Forethought Bonus Advantage (7/11)
is a 10 yr - 10% 10% 9% 9% 8% 7% 6% 5% 4% 2% 0% index annuity with an 8% Premium Bonus - recapture ages 55-75: 100% 100% 100% 100% 100% 100% 80% 60% 40% 20% 0%. It offers a fixed account plus 3 capped S&P 500 strategies (APP, monthly average, monthly cap). The minimum guarantee is 1%-3% on 87.5% of premium, $25,000 minimum premium, and 10% withdrawals after the 1
st year. 

Forethought GLIB  (7/11)
is an optional Income Benefit with an annual charge of 0.95% of the income base
(max increase to 1.95% in year 11 if extended). For the fee the income offers 6% compounded income growth for up to 20 years. The sizzle is an 8% Temporary Income Booster that increases the payout to 8% regardless of age if the owner waits 10 full years or more to start withdrawals. The payout drops back to what it would have been after the annuity cash value is used up.
Payout  Factors increase by 0.1% for before age 85 (e.g., Single Life age 65 = 4.5%, Single Life 66 = 4.6%; Joint Life age 65 = 4.0%, Joint Life 66 = 4.1%). The annuity also offers an Enhanced Death Benefit option that can grow up to 250% of premium. The benefit is paid out in equal monthly payments over five years. 

Industrial Alliance Pacific Freedom Flex Index (7/11)
has a clean, simple structure offering an APP with guaranteed 100% participation rate and cap or fixed account, and a 10 year - 0,9,8,7,6,5,4,3,2,1 surrender schedule that can be waived under a Early
Retirement Benefit provision, or if withdrawals begin after 5 years and continue for at least 5 years. The annuity accepts qualified single premiums as low as $3000, non-qualified single premiums as low as $5000 o r monthly flexible premiums as low as $50. It is available exclusively through 1st American Pension Services.),  *Note: product was withdrawn late in 2012

PHL Premier LifeStyle Annuity (7/11)
underwritten by PHL Variable Insurance Co. and marketed through The AltiSure Group this 10 year with MVA annuity offers a fixed account plus APP with cap, monthly cap, and 1 and 3 year hurdle index strategies. The minimum guarantee is 1% on 87.5% of premium with 10% free withdrawals after the 1
st year. The Enhanced Guaranteed
 Income and Family Wealth Transfer (GIFT) Benefit is the real attraction. The income payout increases at a guaranteed 12%/yr, (simple interest) and there are persistency bonuses that begin at 12% in year 2 and increase to 35% in year 15. Due to the combo the payout is guaranteed to be 228% of the original amount by year 10 and 303% of the original amount by year 15. The cost is 0.95%/yr.


Lincoln National Lifetime Income Edge (5/11)
The rider has a 5% rate enhancement guaranteed for 15 years, but the rider fee can change after 5 years. The rider costs 0.65% current/1.0% maximum. Once selected the rider cannot be terminated for 5 years.
Initial Payouts: (Ages: single %/joint %)  50-54: 4/3.5, 55-59: 4.5/4, 60-64: 5/4.5, 65-69: 5.5/5, 70-74: 6/5.5, 75-79: 6.5/6, 80-84: 7/6.5, 85-89: 7.5/7, 90+: 8/7.5%. The payout increase 0.5% after a 5 yr wait until 1st withdrawal, 1% after a 10 yr wait. If confined to a nursing home for more than 90 days the payout at any age after 65 increases to 10%. Of interest is the following language: The Company reserves the right to impose restrictions on how the Contract Accumulation Value can be allocated among the available fixed account and indexed accounts. The Company will notify the Owner by written Notice at least 30 days prior to the Contract Anniversary Date on which restrictions are in affect. This restriction on asset allocation is something not generally done in the index annuity world, although it is common with VAs. In 2007 Aviva was the only index carrier with an allocation restriction on the GLWB and this was dropped in 2008.


MNL Endeavor Series (11/10)
is 10 separate products. It is designed to work in the new normal index annuity world by offering financial flexibility.
Surrender Charge Periods: 12 yr: 10% 10% 10% 10% 10% 9% 8% 7% 6% 5% 4% 2%; 8 yr: 10% 10% 10% 10% 9% 8% 5% 3%; 6 yr: 9% 8% 7% 6% 5% 3%; 4 yr: 9% 8% 7% 6%. Minimum: $10,000/$2,000 Q. Bonuses: 5% on 8 year, 8% on 12 year with recapture. 10% free withdrawals (and no surrender charges on IRS-RMDs) that begin after 1 year (8 and 12 yr), immediately (6 yr): free interest only on 4 yr. MNL has always offered many crediting options: Fixed Option, APP on S&P 500, EURO STOXX 50, Dow Jones Industrial Average, S&P MidCap 400, Russell 2000, Nasdaq-100 and Hang Seng Index (8 and 12 only) a Monthly Cap on the S&P 500 and Nasdaq 100 also offered. FIAs too complicated?  You haven’t seen this. If the index does not finish higher a year from now you earn the stated return. That’s it! The Inverse Performance Trigger method pays a known return if the index does not finish higher a year from now. Psychologically you need some of your money here just to say after the next market dip “how could you lose money? My index annuity gained x%”, The series is available now.


PHL Secure LifeStyle (10/10)
PHL Variable
Insurance Company introduces the Secure LifeStyle Bonus Annuity and Secure LifeStyle Annuity marketed exclusively through The AltiSure Group. Both annuities offer one or two year index crediting strategies and a fixed account option, 10% withdrawals after the 1st year,  require a $15,000 minimum premium. Surrender charges 10 years:12,12,11, 10, 9,8,7, 6,4,2. The bonus annuity offers a 10% premium bonus that has a surrender recapture of: 10,9,8,7,6,5,4,3, 2,1. Agent commission is 7%, but can go as high as 8.5% with production bonuses.
Both offer the one or two year Safety Growth Strategy. The method brings back the potential home run in that the annuityowner participates in more of the index gain above 5%, but nothing below 5%. As examples, the current participation rate on the 1-year non-bonus option is 40%. If the index increased 10% next year the annuity would credit 2% (10%-5%=5% x 40%). But if the index increased 35% the annuity would credit 12% (35%-5%=30% x 40%). A traditional monthly cap method is also available. The GIFT Benefit rider provides a GLWB that guarantees income growth for 12 years at 10% simple interest PLUS a 55% persistency bonus after 12 years (Effectively, $100,000 into the bonus annuity provides an income account base of $302,500 in twelve years). This is offered with a death benefit that increases at a minimum of 6% compounded until the premium is doubled. Rider cost 0.95% (maximum 3%) on benefit base. The Secure LifeStyle annuities step a bit outside the box to offer a fresh story in these new normal times.


WNL’s Power Index Is Back (8/10)
Western National Life’s Power Index Annuity has an easy to understand annual reset with cap design offers a 7 year (9,8,7,6,5,4,3) or 9 year (9,8,7,6,5,4,3,2,1%) surrender schedule, premium bonus and an optional return of premium rider.


Allianz Simple Income Rider III (5/10)
(R91077) filed on 27 April. The rider would replace Simple Income Rider II. It adds an Option 3 whereby income increases based on changes in the Consumer Price Index, subject to an
annual cap. It also adds a condition that the rider may not be terminated in the first five contract years. It lists a current rider charge of 0.60% and a maximum of 2.0%.


Aviva MultiChoice Series, BAA & Revisions (4/10)
In April Aviva Is Stopping the
Income and Income Select Series as well as the 6% Life Pay rider. In it’s place is the MultiChoice 6, 10, Xtra and Advantage.
All MultiChoice annuities have $5,000 minimum/$100,000 annual maximum premiums, 5% 1st year withdrawal, 10% thereafter, confinement/terminal illness waivers, and the APP w/cap, monthly cap, monthly average w/cap, and fixed crediting options. Gone is the 20% Home Health Care Waiver and the 10% Annuitization Bonus. The 6 yr surrender schedule is 9%,8%, 7% 6%,4.7%,3.5%. The 10 yr  9.6%, 9%,8%,7%,6%,5%, 4%,3%,2%,1%.The MultiChoice Xtra offers an 8% premium bonus that is recaptured at 7.4% for the 1st  8 yrs then 5.3%, and 2.7%. The 10 yr schedule is 12%, 12%,11%,10%,9%,8%,7%, 6%,4%.The MultiChoice Advantage has a 5% premium bonus but all money MUST be placed in the fixed account for the 1st year. The charge is 16%, 15%,14%,13%,12%,11%, 10%, 8%,6%,4%. All include MVAs.

Also coming in April is the revised Income Preferred Series. Key changes from the old series are the Income Preferred Series will include 8% premium bonus and 5% interest bonus product. 5% 1st year withdrawals, and a Guaranteed Minimum Contract Value instead of an Accumulated Value Floor. 

BalancedAllocation Annuity is a new equity kicker product using two year periods instead of four and six year ones. The 8 and 12 year surrender period choices offer 3 combos mixing different percentages of S&P 500 index performance with 2% fixed results and deducting a charge. Available riders are stingier than BPA ones cutting lifetime payouts by a half percent and death benefit growth by a full percent.


Allianz Pro V1 Annuity (3/10)
offers the Barclays Capital U.S. Aggregate Bond Index or a fixed interest allocation. The index annuity has a 5 year surrender period, 10% free withdrawals  and uses an APP with spread  Minimum guarantee based on 87.5%


EquiTrust Income For Life (10/09)
is a clean rider with excellent consumer disclosure that guarantees 7% income benefit growth for 20 years for an annual fee of 0.50%. Income may begin after 5 years and age 50, single and joint life option competitive payouts.


Great American Safe Return (7/09)
brings a bailout and standard return of premium to a 10 year index annuity with APP  w/cap, monthly averaging w/cap and fixed crediting
options. Product has $25k minimum, writes to age 85, and offers their Income Sustainer GLWB as an option. The commission payout is structured to favor agent commission paid over time a trend renewed by American Equity and Equitrust that I believe we’ll see more of because it helps to align the agent’s interest with the consumer.


Allianz Changes (4/09)
have reduced the bonus on MasterDex X to 8% as well as reducing the Simple Index II growth factor from 10% to 8% simple interest (equal to 6.05% over 10 years). In addition, life payouts have taken a huge hit dropping by 0.5% at ages 65 and 70, and a full 1% by age 75; rider cost increased to 0.6% from 0.5%. On a positive note, a Cumulative Withdrawal Benefit allows  the annuityowner to piggybank when less than maximum withdrawals are taken and receive these unused benefits at a future date.
And the Endurance Plus replaces the Endurance 15. The Plus ups the income factor bonus to 20%, the minus is the 10% bonus to earnings has been withdrawn. The minimum guarantee is 0.5%.


American Equity Retirement Gold (3/09)
Retirement Gold offers a 12% premium bonus and an 8% commission all on a 10 year surrender charge product with APP, averaging, monthly cap and fixed options. The annuity also offers the choice of the LIBR  5% or 8% income account factor. 

Forethought Income 125 (3/09)
starts the GLWB calculation at 125% of premium and then increases it by 5% a year for the 1st 10 years. The payout is 5% (4% joint) or 4% with a 2% annual payout increase. The minimum premium is $25k, the minimum guarantee floats on 87.5% of premium, and annual reset, monthly averaging, monthly cap and fixed are the strategies on these 10 year product.

Shenandoah In Receivership (3/09) 
On Lincoln’s Birthday Shenandoah Life entered Virginia state control due to “declining values in certain of the company’s investments.” This index annuity carrier’s collapse follows that of
Standard Life of Indiana last December. Altho death benefits will be paid all withdrawals, surrenders or exchanges have been frozen. The Virginia State Corporation Commission has a Q&A released that says very little, except that Shenandoah has not been declared insolvent, so the Guaranty Fund has not been triggered.


Allianz Simple Income II (2/09)
The rider continues the 10% simple – not compounded – growth and increases the annual fee from 50 to 60 basis points. The big change is a choice of two different withdrawal choices. Option 1 is the standard 5% at age 60, 6% at age 70 thing, that has no real chance of increased income after payouts begin (this is a reality of every product that guarantees an income growth rate that is much higher than current rates).
Option 2 would start you off at  4% at age 60 or 5% at age 70 – a full percent less – but the maximum simple withdrawal will increase by the interest rate credited to the accumulation value. An example used in their product filing shows Option 1 paying $8350 every year whence Option 2 begins at  $6,680. However, if 5% interest is earned Option 2 pays $8,526 in the 6th year and passes Option 1 income. This increasing income option has high consumer value, and is a  welcome addition to the living benefit field.


Standard Life of Indiana (1/09)
The Indiana Department of Insurance took control of the carrier on 18 December, that was brought down by a high concentration of subprime debt. "Surrender requests will be postponed until they can be dealt with in an orderly manner in the rehabilitation." This is the first annuity carrier to enter state control since 2004


Allianz MasterDex X (11/08)  
This index annuity has a 10% premium bonus (vests over 10 years) and a 10-year decreasing surrender charge. An optional Simple Income Rider offers a bonus to the simple withdrawal value equal to 12% of premium, credited each year with no withdrawal.

Bankers Life and Casualty GrowthPoint (11/08) 
Part of the Bankers Security Builder, this annuity uses annual point-to-point indexing with a cap to calculate gains.


ING Income Protector (10/08)
strengthened their IncomeProtector Withdrawal Benefit and now guarantees a 7% compounding roll-up on the income benefit for the first 10 years of the deferral phase. Retained was the refund for 0.40% annual cost if death occurred before the account was used, dropped is the 1.5% guaranteed annual growth on payouts.


Jackson National Life Ascender Plus (6/08)
has added the choice of a 2.5% or 5.0% (10 year option only) premium bonus to the Jackson AscenderPlus Select. The brochure also states “Electing an optional premium credit will
result in your contract having lower interest rates and Caps than if you had purchased a contract without a premium credit”, a fact that is true EVERY time ANY carrier offers a premium bonus, but rarely pointed out. Bravo to JNL for the disclosure and hopefully the start of an industry disclosure trend on bonus realities. 

Sagicor Platinum Series (6/08)
announces the Platinum Series Fixed Indexed Single Premium Deferred Annuity With 5% Bonus. The annuity offers a choice of fixed account, S&P 500 or
Global Index Linked Strategy using a 3 yr pt-to-pt crediting taking 60% of the best performing index, 40% of 2nd best, 0% of third, times participation rate. The product has 10% free withdrawals after 1st year, and a 9 yr surrender schedule: 15% 14% 13% 12% 11% 9% 7% 5% 3%. The GMWB provides 10% annual withdrawals of original premium beginning in 11th year payable for up to 20 years  (contract years 11 thru 30), this is the equivalent of a 3.54% annualized return over 30 years.


Allianz Target Accelerator (4/08)
The product does imitate an asset allocation model in that Allianz dictates the percentage of the client’s premium that goes into the fixed and indexed strategies based on the “target date” that the client selects (between seven and 20 years). The shorter the "target date," the greater the percentage that is allocated to the fixed strategy.
The seven year product utilizes the rainbow crediting method, affixed upon an annual point-to-point (PTP) strategy with a participation rate; 6% street level compensation or a variety of trail commission options.  

American General Global Index Series (4/08)
 The
Global 6 Index, Global 8 Index, and Global Bonus Index from AG take the rainbow method to a new level with their capped annual point-to-point strategy, utilizing the S&P 500, the Nikkei 225 and the DJ Euro Stoxx 50. The Global 6 has strong 90% @ 3% Minimum Guaranteed Surrender Values (MGSVs), a Nursing Home Waiver, and pays full Account Value at death. In addition to the rainbow strategy, clients have a choice of annual PTP with participation rate, monthly PTP, or fixed methods. Street level comp.is 5%. GLWB standard.
The Global 8 is much like the Global 6; 6% for compensation on this one. The Global Bonus is cut from a different mold. Yes, it may have a 10-year chassis and a 5% premium bonus like other products, but, it is 10/10 friendly, and has 100% @ 3% MGSVs. Market Value Adjustment is applicable and a higher minimum premium of $15k is required to get in. Plus, the Bonus is an SPDA, where the 6 and 8 are FPDA.

Midland National Life Rainbow Added (4/08)
added a new crediting method to their Capstone, Innovator, and Prosperity Choice series, as well as the Ten product. The new Optimal Index Strategy
is a rainbow method that does a lookback of the S&P 500, Russell 2000, and DJ Eurostoxx 50, and gives 50% weighting to the best-performing index, 30% weighting to the next-best performing index, and 20% weighting to the least-best performing index. Although the strategy is always on an annual PTP with cap chassis, the pricing lever may change from a participation rate to a spread depending on product.  

National Western Life Global Lookback (4/08)
rolled out the new
Global Lookback this month, which utilizes their own version of the rainbow crediting method with a lookback. The Global Lookback looks a lot like the Ultra Benefit, their 9-year/7% street level comp. product, only with no bonus and lower rates.
A monthly averaging strategy utilizing the S&P 500, Nikkei 225, Heng Seng, and DJ Euro Stoxx 50.This strategy then performs a lookback over the one-year period and gives 40% weighting to the best-performing index, 30% to the next-best, 20% to the next, and 10% to the least. A participation rate and spread apply to any potential indexed gains.  

North American Rainbow Added (4/08) 
also added a new rainbow crediting strategy this month; the Hindsight Index Strategy
. The new method will be added to Charter and Precision series, as well as the Ten product. It will always utilize a cap, and may utilize a participation rate as well.  


Allianz MasterDex Plus Series (3/08)
The new MasterDex Plus, MasterDex 5 Plus, and MasterDex 10 Plus Indexed Annuities (IAs) just rolled out with a choice of annual PTP, monthly averaging, monthly cap, and fixed crediting methods; a yield spread on the averaging strategies or a cap on the PTP strategies and rainbow crediting method.
The Plus is a 7-year product with no bonus, the 5 Plus offers a 5% up-front bonus and the 10 Plus offers a 10% two-tiered bonus that requires annuitization.
The new GLWB is the first rider that Allianz has offered on their FIAs, as previous GLWB benefits have been embedded in base products. This new rider may look comparable to other riders in the industry at first glance: a 0.40% charge, spousal continuation, an accumulation benefit. However, the accumulation benefit on the Income Plus is very different and competitive, as it guarantees that the Benefit Base will increase annually over a 10-year accumulation period, or until the client commences income (which is standard on most accumulation benefits). However, the increase will be the greater of fixed and/or indexed rate earned or the 10-year Constant Maturity Treasury Rate (CMT).

American Investors Income Select Bonus (3/08)
This new 10-year product features a 10% bonus with a recapture charge, which allows the carrier to keep their surrender charge scales lower (12% in year one). This means if the client were to surrender in excess of their penalty-free amount part of the bonus is taken back.
Features a choice of eight different crediting methods, including AIL’s rainbow method.

Aviva MultiChoice IncomeXtra (3/08)
This month, the carrier launched their version of AIL’s product, under the name MultiChoice IncomeXtra. That makes six products on the market now with a 10-year chassis, and a 10% bonus.


American Investors Life BPA Select Series (2/08)
rolled out their newest series of BPA products, the
BPA Select Annuity 6, BPA Select Annuity10, and BPA Select Annuity 12. These three products feature the same fixed/indexed blended strategy that the first two products offered, but different term end point (TEP) periods.
Where the first products were a four-year TEP, the BPA Select 6 is a 6-year TEP, the Select 10 is a 5-year TEP, and the Select 12 is a 4-year TEP. Each product also offers bonuses via the optional Guaranteed Minimum Death Benefit (GMDB) rider. The 6-year offers a 5% bonus at a cost of 1.00% annually. The 10-year offers a 10% bonus at a cost of 1.25% annually. Last, the 12-year offers both 6% and 10% bonuses at a cost of 0.65% and 1.05% respectively. There are vesting schedules on the bonuses, should the client decide to surrender early). The new twist: this series is charging an explicit Account Value (AV) charge for the allocation blends. There are now two choices for allocations on the shorter term plans, and three choices on the 12-year. Blends currently range from 50/50 to 90/10 of a indexed/fixed blend. The explicit AV charge for the allocations ranges from 1.25% to 3.50% based on plan.

Aviva MultiChoice Income Elite (2/08)
Replacing the MultiChoice Annuity 10 the carrier also introduced the new
MultiChoice Income Elite, their solution for a low-interest rate environment. The 10-year product offsets the higher caps and participation rates by paying 6% street level compensation to the agent, but offers plenty of consumer-friendly extras that will grab the agent’s attention as well. The simple product offers two annual PTP strategies, one with a participation rate, one with a cap, as well as a fixed bucket strategy. Rates are banded at the $75k band for those trying to get the most for their money.

ING Envoy Series (2/08)
Tthe new
Envoy 3 Fixed Index Annuity, Envoy 6 Fixed Index Annuity, and Envoy 9 Fixed Index Annuity all
bear a 9-year term despite their names. The Envoy 3 allows for a 30-day penalty-free window at the end of years three and six. The Envoy 6 features the same window at the end of year six, and the Envoy 9 offers no such window during the surrender charge term. The other feature that ING rolled out on this new series, which carriers are developing quite quickly, is a new rainbow crediting method. All three products feature two annual PTP with multiple indices crediting methods; the S&P 500 and the DJ Euro Stoxx 50 being the two feature indexes. There is a 70% weighting on the S&P 500 and a 30% weighting to the DJ Euro Stoxx 50. In addition to these two methods, a fixed bucket option is available and rates are still banded at $75k for those who encourage higher caps and participation rates for higher premiums. The MGSV on the series is based on 100% of premium at a floating rate (NAIC model). Minimum premium $15,000.


Allianz Pulls PowerDex (1/08)
has announced that they will no longer be actively marketing the following:
BonusDex Elite, PowerDex Elite, and 5% Bonus PowerDex Elite. (T 10% Bonus PowerDex Elite is still available.

Midland National Life Ten (1/08)
MNL’s
Ten is an FPDA with a ten-year surrender charge (beginning at 18%) and a 10% bonus up-front. Unlike the WNIC product, Midland’s Ten features NAIC-model Minimum Guaranteed Surrender Values (MGSVs) based on 100% of premium, less surrender charges.
Clients have a choice of seven different indices including all the standards, as well as the Lehman Brothers Bond Aggregate Index and the Dow Jones Euro Stoxx 50. Go a step further and the capped crediting methods offered include annual PTP, monthly averaging, monthly cap, and fixed. In addition to this vast choice of crediting methods, the Ten has a GLWB, which the WNIC product cannot offer. The Midland product does require a higher $10k premium to get in,

Physicians Life Vista Index Advantage (1/08)
discontinued their independent agent distribution one year ago. However, they are still marketing IAs through their captive distribution and show us that they are committed to the product line with their
recent product turnover. The long-standing Vista Index Solution 7, Vista Index Solution 10, and Vista Index Solution 15 have been pulled for future sales right along with the Vista Index Elite 5 and Vista Index Elite 10. An entirely new product portfolio has been launched for their career force- the Vista Index Accelerator 10-Year, Vista Index Accelerator 15-Year, Vista Index Advantage 5-Year, Vista Index Advantage 7-Year, and Vista Index Advantage 10-Year.

Physicians’ products are still based on a chassis with an underlying floor of 90% @ 1.5% – 3%, rather than an explicit surrender charge schedule. In addition, this series also offers the same 5% annual penalty-free withdrawals that the carrier has always offered on their IAs. What is new is that the Advantage products pay the greater of the full Account Value (AV) or MGSV upon death. The Accelerator 10 features a bonus that is 5% (less for older ages), and the Accelerator 15’s bonus performs similarly- beginning at 8%. All of the new products feature annual PTP, monthly averaging and fixed methods.


American Investors Income Select Platinum (11/07)
Two annual point-to-point strategies are available (one with a cap, one with a participation rate), as well as a fixed. Rates are banded at the $75k band. Penalty-free withdrawals are available immediately and both nursing home and terminal illness waivers come standard. The Income Edge rider has had some new enhancements, the most noticeable change to most will be the fact that Income Edge now has a bonus on the Benefit Base, just like the Forethought Destination Income and Allianz Endurance 10 and Endurance 15. However, the bonus is a mere 5% on the Income Edge rider, compared to the large bonuses on these other products, however, that this is a rider and the bonus can be combined with the up-front bonus on the product it is attached to. So, you may have a 5% up-front bonus on the Income Select Plus and a 5% bonus on the Benefit Base of the Income Edge rider.

OM Financial Spectrum Reserve Bonus (11/07)
The first product, Spectrum Choice 9 Bonus, is very similar to the Spectrum Choice 9 with a bonus, lower rates, and escalated surrender scales.
This new SPDA features a 3% bonus on all premiums paid in the first six months and a 9-year surrender charge. Minimum guarantee of 100% @ 3% MGSVs, less surrender charges; as well as nursing home, terminal illness, death and unemployment waivers. The standard annual, biennial, and triennial monthly cap crediting methods come with this one, as well as annual PTP, monthly averaging and fixed. 

The Spectrum Reserve Bonus is the other new OMFN product this month, and it is similar to the Spectrum Reserve IA, but with a bonus, lower rates, and escalated surrender scales. This SPDA pays 4% on all premiums paid in the first six months, but it features a 13-year surrender charge. The client can still expect 100% @ 3% MGSVs, less surrender charges on this product and it pays the  greater of the full Account Value or the MGSV at death.


Jackson National Life AscenderPlus (10/07)
Launchinh Jackson AscenderPlus Select 5-Year, Jackson AscenderPlus Select 7-Year, and Jackson AscenderPlus Select 10-Year. It was just three months ago that the company first launched similar products with their revolutionary concept of offering a proprietary index as a benchmark for indexed crediting. This month, Jackson continues that momentum with the Select
series of products by making some exciting enhancements. The first observation a producer will make is the addition of a fixed strategy to these products, a first for the company that has been in the market for over a decade. Crediting methods: annual point-to-point, monthly averaging, and monthly point-to-point with annual reset (also a new enhancement from the previous biennial reset selection). Take it a step further, and chose your choice of indices: S&P 500 or Multi-Index Strategy (the JNL proprietary index). Clients get rewarded with 10% penalty-free withdrawals, right off the bat and beneficiaries get the greater of the full AV or 100% @ 3% at death.

Lafayette Life Marquis Centennial 10 (10/07)  
Marquis Centennial 10, is the 10/10 companion to their Marquis Centennial series. The newest addition to the lineup not only offers mild surrender charges, but also a 90% @ 3% Minimum Guaranteed Surrender Value and very competitive rates and caps.
 Clients can choose between fixed, annual point-to-point, monthly averaging, and monthly point-to-point strategies with annual resets based on the S&P 500. Low minimum premiums of $1,000.


Bankers Life & Casualty Security Builder (9/07)
has decided to offer their distribution a little leverage in the premium bonus market this month with the launch of the Security Builder Premium Bonus Indexed Annuity.
This ten-year product utilizes an up-and-coming trend to transfer the risk from the insurance carrier to the client by a vesting schedule with their 4% upfront premium bonus. This allows the carrier to avoid long and/or high surrender charges, and still offer the bonus. In exchange, the client will lose all or part of the bonus in the event that they cash surrender early. The product utilizes a monthly averaging strategy. Nursing home and terminal illness waivers come standard along with 10% penalty-free withdrawals.

Forethought Destination Income (9/07)
A 12% bonus on the Benefit Base (BB) of this Guaranteed Lifetime Withdrawal Benefit (GLWB) product, 5% roll-ups.

OM Financial Spectrum Choice(s) (/9/07)
is copying their own products. Let me break it down. The Spectrum Choice Bonus, Spectrum Rewards Choice 9, and Spectrum Rewards Reserve have been duplicated and slightly altered in light of the depressed rate environment. The new products: Spectrum Choice, Spectrum Choice 9, and Spectrum Reserve, have the exact same chassis as the aforementioned products, but no premium bonuses and higher rates and caps. They launched the NY Spectrum Independence 10. This, simply put, is the NY Spectrum Freedom 10 without the 2% bonus, but with higher rates and caps. Ten-year product, 100% @ 1 - 3% minimum guarantees, 10% penalty-frees, and 5% street level compensation. The client gets nursing home, terminal illness and death waivers, in addition to a death benefit that pays the greater of the full AV or the Guaranteed Minimum Surrender Value (GMSV). In addition to a fixed strategy, there are annual PTP, monthly AVG, and monthly cap strategies to choose from. 

Sun Life SunDex Bonus (9/07)
Thw
launch of the SunDex Bonus marked a new era of product development for the carrier. The product offers clients a 6% premium bonus, or a 7% bonus with a premium of $250k or more. Instead of using a long surrender charge on this 10-year product, Sun also opted for a vesting schedule on their bonus product. The NAIC-based minimum guarantees are a new feature for the carrier, but the GLWB is not. For those who have seen their SunDex Advantage product, the lifetime withdrawal benefit will look familiar. Like the Advantage, the participation rate on this monthly average product drops permanently by a stated percentage once income is elected. As far as liquidity is concerned, clients get 10% penalty-frees.


Allianz Endurance 10 (8/07)
This
is the former VersaDex. What could cause the folks in Minnesota to pull the VersaDex about six months after launch? Well, the new product is identical to the old one with the exception of the name and a few more crediting methods. The new Endurance 10 promises to please with a choice of three annual point-to-point (PTP) strategies, three monthly caps, an annual PTP rainbow method, and a fixed strategy. Choose from the S&P 500, Nasdaq-100, and FTSE 100 indices for your strategies as well. 

Equitrust MarketTen  (8/07)
his month their new MarketTen Bonus Index and MarketTen Index IAs.
Both products are identical with the exception of a 7% bonus and lower rates on MarketTen Bonus Index. Clients get a 10 year/10% surrender charge and scale. A Minimum Guaranteed Surrender Value (MGSV) of 100% @ 3%, less surrender charges. The minimum premiums on these two to $30K. 

Fort Dearborn Life Index Fortifier (8/07) 
Index Fortifier VII, VIII, IX, X and XIV. What’s new? For one, premium bonuses ranging from 3.5% to 7% on the 8, 10, and 14 year products. Perhaps just as important is the change in MGSVs on the series: 100% @ 3% less surrender charges on all but the 14 year (87.5% @ 3% on that one). 

North American Company Freedom Choice (8/07)
Freedom Choice series of 6, 8, 10, and 14-year products For those of you familiar with Midland National’s Select series of IA; copy that and lower the rates and drop the comp. to 5.50%. Not a shabby series if you prefer the opportunity for higher rates as a tradeoff for less liquidity and higher premiums.


Americo Elite Provider (6/07)
launched their new Elite Provider product this month. This ten-year product offers two annual PTP methods, two monthly averaging strategies, as well as a fixed option. Be prepared to describe participation rates, caps, and yield spread if you’re selling this product- as it uses all three. Clients have access to 10% penalty-frees after year one and beneficiaries receive the greater of the full Account Value (AV) or Minimum Guaranteed Surrender Value (MGSV) upon death.

Midland National Select Series (6/07)
has 30 products in their offering now that they’ve rolled out the Select series of IAs. This new suite of 6, 8, 10, and 14-year products is truly different for MNL.The client has a choice of withdrawal options: 10% penalty-frees or 5% penalty-frees (affording higher caps and rates than the 10% option). Lastly, be prepared for banding to differentiate the rates if clients pay over $250k. The rest of the product chassis are standard MNL- from the full AV upon death and Nursing Home waiver, to the eight different indexed methods. 

National Western Life Utra Value (6/07)
blessed the market with their own 10/10 product this month, the Ultra Value. This nine-year product has a 2% bonus and a choice of monthly averaging or monthly cap methods (fixed is a given). Beneficitaries only get the Cash Surrender Value if taken in a lump sum or the full AV is available if taken over a minimum five-year period.


Midland National Guaranteed Income Provider (5/07)  
Their
Guaranteed Income Provider GLWB is like many other benefits in that it guarantees clients lifetime annual withdrawals at a specified age-based level, even if their Account Value (AV) goes to zero. The age bands range from age 50 to 90+ and withdrawal percentages vary from 4% - 8% for single annuitants; 4% roll-up. There’s automatic step-ups, spousal continuation, a charge of 0.10%.

Jefferson-Pilot Life (5/07)
has rebranded their Indexed Annuities under the Lincoln National Life/Lincoln Financial Group brand.

National Western Guaranteed Income Provider (5/07)
Their
Guaranteed Income Provider GLWB has a 0.35% charge. Clients are also guaranteed 5% accumulation over a 10-year period, or until commencement of lifetime income (reset available every five years). Did I mention the automatic step-ups or the spousal continuation? Clients age 60 receive 5% maximum withdrawals and the payout percentage increases by 0.10% for each  issue age year gained.


ING Secure Index Outlook (4/07)
launched their new state-specific
Secure Index Outlook. This product has a 10-year surrender charge with a 10% scale, and the same crediting methods as the rest of the Secure lineup:
annual point-to-point (PTP) with cap, annual PTP with participation rate, and monthly averaging (AVG) with a spread. The twist on this little “preemie” is the 3% up-front bonus. 

ING Income Protector (4/07)
Their new
IncomeProtector Withdrawal Benefit launched on the same day as the above new IA and this GLWB is different than any other Guaranteed Lifetime Withdrawal Benefit to hit the street.
Clients are guaranteed annual withdrawals at a specified level (based on age), regardless if their AV goes to zero. Clients aged 50-54 = 4% withdrawals (w/ds); aged 55-59 = 4.5%; aged 60-64 = 5%; aged 65-69 = 5.5%; aged 70-74 = 6% ; aged 75-79 = 6.5%; aged 80-84 = 7%; aged 85-89 = 7.5% ; aged 90+ = 8%. Now, most of the GLWBs on the market today will offer 4% accumulation on the Benefit Base until commencement of income, to give an incentive to defer withdrawals. However, ING made IncomeProtector especially attractive by one-upping the competition. You get your 4% accumulation for

deferring withdrawals, but you also get 1.5% accumulation while taking income. Still want more? They’ll give you spousal continuation, and reimbursement of those pesky charges for the rider upon death if you play by the rules (basically don’t take excess withdrawals or terminate the rider and die with an Account Value less than zero). The rider charge is a competitive 0.35% annually? 

North American Company Prizm Series (4/07)
Launch another
six IAs with 13 crediting methods each. The Prizm and Prizm Plus IAs are based on 7, 10, and 14 year chassis. The Prizm Plus 10-year offers a 5% bonus, and the Prizm Plus 14-year has a 10% bonus. All products feature full AV upon death, persistency bonuses, MVAs, and NAIC-based Minimum Guaranteed Surrender Values. Crediting methods use a participation rate lever and give the option for annual PTP and daily AVG based off of the S&P 500, S&P 400, DJIA,
DJ Euro Stoxx 50, Lehman Bros. Bond Index, Russell 2000, and Nasdaq-100. A monthly PTP capped strategy and fixed option is also available.


American Equity Gold Series (3/07)
The
10/10 Gold is the former Platinum-10 product which was a state-specific IA, and the folks at AEIL have now opened it up for the rest of the union. The next “new” product is the Bonus Gold. with the surrender charge shortened to 16 years from the previous 17. The Freedom Gold  brings NAIC-based Minimum Guaranteed Surrender Values (MGSVs). Agents will also be pleased to see that our folks in West Des Moines have brought new crediting methods with this enhanced version. Additional methods include a choice of DJIA strategies: an annual point-to-point (PTP) with cap, or a monthly averaging (AVG) with cap. The last product upgrade was made to the Future Gold. This is an enhanced Future Platinum, as the folks at American Equity say, they are “Setting the Gold standard.” (If you recall, they offered the Gold series of product prior to the Platinum series of products). Changes from the Future Platinum to the Gold include NAIC-based MGSVs. However, if you compare the old Gold to the new, you’ll notice that there are additional strategies on this product as well as a reduced surrender charge scale. You still take 10.50% compensation on this one. 

The hottest product is the Income Gold. The twelve-year product begins with a 15% scale and offers a 5% premium bonus on all first-year premiums. You can count on the 10% penalty-frees and full Account Value upon death, as well as a minimum premium of $5,000 to get into this one. The MGSV is 84% @ 3% in year one and 87.5% @3% in years two plus.  Clients are given a choice of nine crediting methods: fixed, annual PTP, monthly cap, and monthly AVG. There are a choice of indices between Lehman Bros. Bond Index, DJIA, and the S&P 500, and you can even choose which pricing lever you prefer- cap or participation rate on many of the strategies. The GLWB is a little different from most other GLWB riders in that it does not have an explicit annual charge, but the caps and and participation rates on this product may be a little lower than other AEIL products to compensate. With this rider, clients are guaranteed annual withdrawals at a specified level (based on age), regardless if their AV goes to zero. Clients aged 50-59 = 4% withdrawals; aged 60-69 = 5%; aged 70-79 = 6%; aged 80+ = 7%. This rider offers a competitive guaranteed 5% annual increase on the Benefit Base until commencement of income, as well as automatic step-ups and spousal continuation.

The Integrity Gold is a six-year product offering NAIC-based MGSVs, and a minimum premium of $5,000. It offers a choice of nine crediting methods on this product as well. There is a choice of selecting a cap or participation rate on an annual PTP or monthly AVG strategy based on the S&P 500. There is also DJIA strategies with caps. Lastly, a S&P 500 monthly PTP, Lehman Bros. Bond Index annual PTP option, and a fixed strategy is thrown in.


Forethought Life Destination Series (2/07)
became the 57
th carrier in the IA industry with the January launch of their Destination Series. The Forethought Destination Indexed Annuity 3-Year and 6-Year products feature short-term surrender charges and Market Value Adjustments. However, Minimum Guaranteed Surrender Values (MGSVs) are a strong 90% @ 3%, and the death benefit is the greater of the
full Account Value or the MGSV. Four crediting methods are offered on both products including: (1) fixed with multi-year guarantee strategy (growing in popularity), (2) three-year term end point, (3) monthly point-to-point (with three year reset), and (4) monthly averaging (with a three-year lock-in on the spread).   

Lincoln Benefit Life GLWB (2/07)
became the sixth Indexed Annuity carrier to introduce Guaranteed Lifetime Withdrawal Benefits (GLWBs) on their IA products.
This time, however, the carrier took existing products and added a rider at no cost to the consumer. The Savers Index Plus and Savers Index Premier IAs which launched in March of 2006, will now automatically include LBL’s “Lifetime Income Rider” (LIR) GLWB. Like previous GLWB’s, this rider will provide guaranteed income for life, regardless if the Account Value (AV) falls to zero. This rider allows payments to commence as soon as the annuitant turns 60. Perhaps most interesting is the creativity of the Allstate actuaries in regards to this rider. Rather than using age as the primary trigger for the withdrawal percentages on this rider, the number of years the rider has been on the policy are the driver. For example, a client owning a Savers Index Plus for less than five years would be eligible for 4% annual withdrawals with the LIR. Had the same rider been on the contract for ten plus years, 6% annual withdrawals would be in order.As an alternative, clients can elect the “Enhanced Lifetime Income Rider,” (ELIR) which costs 0.40% of the AV annually. Like the no-cost LIR, this GLWB also provides guaranteed income for life regardless if the AV declines to zero. However, the annuitant can commence payments at age 50, an annual ratchet applies to the higher of the AV and the Benefit Base, and joint life coverage is available on this rider. Another advantage to this enhanced version of the rider is that the Benefit Base can go up once payments begin (unlike the no-cost version). However, like the LIR, rider duration is a primary trigger for withdrawal percentages, but the client’s age is also taken into consideration (as is the product purchased). 


Allianz Life VersaDex (1/07)
made their first attempt to cater to their new Broker Dealer distribution on the IA side of the house with the development of their
VersaDex product. Allianz did a good job trying to catch the eyes of B/Ds with a 7-year surrender charge that begins at a 10% scale. Full Account Value (AV) is also available upon death, another plus. The crediting methods available are an annual point-to-point (PTP) based on the S&P 500, an annual PTP based on the Nasdaq-100, and a new rainbow annual PTP method. This last method provides the annual index return for four different indices in a “blended” annual PTP strategy which calculates a rate based on a combination of weights for each index as follows: DJIA (35%), Lehman Brothers Aggregate Bond Index (35%), FTSE 100 (20%), and Russell 2000 (10%). (All use a cap as the pricing lever.) GLWB with 10% income benefit bonus. You cannot walk away from the contract and take away the 10% bonus without holding the contract in deferral for at least seven years, and choosing one of the income options. Income Option 1 is elect to take up to 10% penalty free withdrawal until the Benefit Base is exhausted. Income Option II gives you the option to receive income for life (regardless if your account value goes to zero), based on the client’s age. Clients aged 60-69 = 5% withdrawals (w/ds); aged 70-79 = 6% w/ds; aged 80+ = 7%. Need more reasons to check out this Allianz IA? How about a 110% enhancement on all indexed or fixed interest you earn beginning on the first day of your contract? Just hold it in deferral for that seven-year period, and choose one of those income options, and you will be eligible for this benefit as well.


Midland National Paragon Series (1/07)
will be retiring the Legacy Bonus 5, Legacy Bonus 11, and Legacy Select Indexed Annuities at the end of 2006. This is the passing of a Legacy; the Legacy Bonus 11 was the biggest up-front bonus IA in the industry. Their new Paragon and Paragon Plus series are comprised of the Paragon 7-Year, Paragon 10-Year, Paragon 14-Year as well as the Paragon Plus 7-Year, Paragon Plus 10-Year, and Paragon Plus 14-year.
What you need to know about these series: the seven-year products have no bonus. On the Plus series, the 10-year offer a 5% bonus, and the 14-year have a 10% bonus. All of the products pay 9% SLC across the board. In perfect Midland fashion, you can count on full AV upon death, 10% penalty-frees, and Nursing Home waivers. However, the most surprising addition is the substitution of monthly AVG strategies for the ordinary daily AVG in the 13 different crediting methods that are offered on the series. 


Conseco Command (12/06)
This 16-year product allows the client to take penalty-free withdrawals or “free-outs” in years 4, 8, 12, and 16 of the contract (must specify at issue). Only AIG’s Horizon MultiValue offers a similar free-out feature. Also to the benefit of the client is a persistency bonus, which is available after year six, vests at 1% annually, and varies from 4-10% by issue age. Also distinctive is the use of crediting methods on the series: four-year term end point, two-year monthly averaging (previously offered only by the folks at Equitrust), and fixed. Now, clients of the 4-year free-out also have the choice of a four-year multi-year guarantee (MYG) fixed strategy (thereby, making the Conseco Command 4 an attractive MYGA alternative), but they also have an MVA to contend with should they select the 4-year free-out.
This product comes standard with nursing home and terminal illness riders, as well as a death benefit that pays the greater of the Account Value (AV) or Minimum Guaranteed Surrender Value (MGSV). However, if your client wants an upgrade, the Guaranteed Minimum Death Benefit (GMDB) is available to provide up to 200% of the premium contributions into the contract; all in exchange for lower participation rates and higher asset fees. For the first time, Conseco’s asking for a higher minimum premium of $20k on this one. 

Midland National Life Royal (12/06)
The
Royal and Royal Plus has 10-year surrender term and the charge scale begins at 9% as opposed to the standard 15% that is normally attached to their 10-year contracts. Our next point: no 5% premium bonuses; which allowed MNL to bring the surrender charge scales down. Royal has no premium bonus and Royal Plus offers only a 2% bonus. Ready for the next big shocker? NO 13 CREDITING METHODS TO CHOOSE FROM!!! Both of these new IAs simply offer three crediting strategies: fixed, an annual point-to-point (PTP) with cap, and an annual PTP with participation rate (both based on the S&P 500).
 ENHANCED penalty-free withdrawals, they can postpone all withdrawals for the first five years of the contract, and be eligible for one 25% penalty-free withdrawal annually after year five. (Just thinking out loud here: 10 year contract, wait five years for withdrawals, take 25% per year x 4 yrs = 100% in nine years!) 

RBC Choice 10 & 8 (12/06)
The
RBC Choice 10 is a 10/10 product; The RBC Enhanced Choice 8 on the other hand is a shorter-term product with a 2% bonus. For higher-end bonuses, the RBC Enhanced Choice 12 offers the longer surrender charge term/higher scale, but the 5% bonus as a tradeoff.
How about trail commission options, automatic rebalancing each anniversary, as well as nursing home and terminal illness waivers? RBC has introduced the quarterly monthly cap which is the same as monthly cap, but measured on a quarterly basis. There’s still no downside cap, but you do get zero at the end of the year if your four quarterly sums result in less than zero. Monthly averaging is also offered (both methods based on the DJIA). Another method offered on the series is the trendy new fixed with multi-year guarantee strategy.


American Equity Platinum-3 (11/06)
A 10-year product paying a 3% bonus on the initial premium.  Nursing Care and Terminal Illness waivers, 10% penalty-frees available after year one, and a death benefit that pays the greater of the full Account Value (AV) or Guaranteed Minimum Surrender Value (GMSV). They’ve packed in a fixed strategy, as well as a monthly point-to-point (PTP), an annual PTP, and a monthly averaging (AVG) all based on the S&P 500 index. In addition, they’ve tacked on their annual PTP based on the Lehman Bros. Bond Index as well as annual PTP and monthly AVG strategies based on the DJIA. 

Lafayette Life Marquis Centennial (11/06)
This new series of 3, 5, and 7-year products has uncompromising caps on their annual PTP, monthly cap, monthly AVG, and fixed strategies. Minimum premiums are at $1k for this series of products with MGSVs based on 90% @ 3%. The death benefit pays the full AV, and Nursing Home and Terminal Illness waivers are standard. 

Loyal American Loyal Series (11/06)
is our 57th carrier to enter the market folks! Let’s give a warm welcome to this Great American Financial subsidiary, and their Loyal Gateway, Loyal Generation and Loyal Outlook. Loyal’s first series has many similarities with Great American’s product lineup: strategies, bonuses, all the way down to the Nursing Home and Terminal Illness waivers. Loyal steps outside their sister company’s shadow with several new features, however. First, Gateway’s 10-year chassis offers a 2% premium bonus in addition to 9% SLC. The Generation appeals to those in the higher-bonus arena with a 7.5% bonus (ages 0-55),
or 5% bonus (ages 56-85), The surrender charge has been extended to 15 years on this one, to account for the higher bonus (only 10 years for clients aged 56-85, however). Another nice feature on the Generation is the banded caps at the $100k premium band. Clients of the Outlook product can take home a short 5-year product while their agent takes home a comfy compensation of 4.50%. All three products offer a fixed strategy, daily averaging with participation rate), monthly AVG with a spread, monthly AVG with a cap, as well as annual PTP with a cap.


American General VisionAdvantage (10/06)
The new
VisionAdvantage series promises not to disappoint B/Ds as well as those concerned about 10/10. All three products have NAIC minimum guarantees based on 90% of premium, as well as a market value adjustment. Nursing home waivers come standard, as do 10% penalty-free w/d’s in year one. The full account value (AV) is paid upon death. AG is asking for a little higher minimum premium on this series, $15K.  Again, the carrier has opted for more common crediting methods this time with four annual point-to-point (PTP) strategies, a monthly averaging option, as well as a fixed. The three annual PTP strategies are differentiated by offering different participation rate/cap levels (i.e. 100% par. rate/lower cap; 80% par. rate/higher cap; lower par. rate/no cap). The monthly averaging strategy uses an asset fee for the pricing lever- a common trend these days. 

Investors Insurance PremierMark Plus (10/06)
must not be concerned about state approvals of their new
PremierMark Plus in the states that use the 10/10 rule. This new Legacy Marketing Group product is similar to the original PremierMark, but touts a 7% premium bonus and a 18% scale in year one.Nursing home rider, 10% penalty-free w/d’s after year one, and of course the LMG Beneficiary Rider Plus (provides an additional 28% of the gain upon death to reduce the Like the first product, clients will have a choice of annual PTP, monthly PTP, monthly averaging, and fixed strategies. However, this time, Legacy has given the agent a monthly cap based on the S&P 500 in addition to the Nasdaq-100. If you live in a state that isn’t 10/10, 

Protective Life ProSaver Series (10/06)
This month, they launched their new
ProSaver Index Choice II 5-Year and ProSaver Index Choice II 7-Year products, (identical to West CoastIndex Advantage II 5-Year and Index Advantage II 7-Year) which were basically clones of their previous series with a twist. The twist: a Fixed Rate PlusSM strategy which credits a traditional fixed interest rate over a one-year term, but also gives clients the potential for additional gains through the S&P 500. This indexed portion is provided through a participation rate that is credited based on any increases in the index over a one-year period (clients receive this above and beyond the fixed rate). The chassis of the IAs offer clients 10% withdrawals immediately, nursing home and terminal illness waivers, and the greater of the AV or guaranteed minimum surrender value (GMSV) paid upon death. The clients receive a strong GMSV on both products at 100% @ 2.25%.

Sun Life GLWB (10/06)
is the latest carrier to launch a GLWB on an Indexed Annuity. Let’s go over the specs first. This 8-year product is based on a monthly averaging chassis and provides the greater of the AV or GMSV upon death. Clients have the option of taking 10% penalty-frees after year one. Where the product gets “new and different” is the GLWB: which is offered as an embedded benefit, not a rider. Like previous designs, Advantage offers guaranteed annual withdrawals at a specified level, regardless if the AV goes to zero. The withdrawal amount is determined by age (50-85+) and annual withdrawal levels vary from 5% to 7.5%.
This IA offers spousal continuation. Something totally unexpected on this design however is how clients have the option of stopping and re-starting income any time after election. What’s more, the income amount will be cumulative once re-started, as long as the benefit base is not exceeded. Another difference from the competition is how the client is “charged” for the benefit. Sun decided to take a simple approach and permanently reduce the participation rate on the monthly averaging strategy once the client elects to commence income.


Allianz Life Death Benefits (9/06)
made a change to all of their single-tier Indexed Annuities (IAs) effective 1 August. All new business going forth from this date would offer a death benefit that provide the greater of the full Account Value (AV), or the Minimum Guaranteed Surrender Value (MGSV). All Allianz IAs previously provided death benefits that paid out less than the full AV, with an option to obtain the full AV by taking a minimum 5-year annuitization.
The new death benefit does NOT apply to the following products: BonusDex Elite, InfiniDex 10, MasterDex 10, and 10% Bonus PowerDex Elite.

Fidelity and Guaranty Safety Index (9/06)
Account value guarantees that are 100% @ 3%, less surrender charges
. annual point-to-point (PTP), monthly cap, or two different monthly averaging options with a choice of either a cap or a spread as your pricing lever, and voila! You’ve got a new series. 

Minnesota Life SecureLink (9/06)
became our newest carrier in the world of IAs with their simple, consumer friendly IA,
SecureLink. This product is perfectly designed for B/Ds with it’s seven-year, annual point-to-point chassis. The death benefit provided is the greater of the full AV or the GMSV. Nursing Home waiver and 10% penalty-frees come standard.
SecureLink offers a simple annual point-to-point (PTP) strategy, NAIC-compliant minimum guarantees of 90% @ a floating rate. 


American Equity Platinum 10 (8/06)
The Platinum-10 is your standard AEIL product with a 10-year surrender charge: NAIC-based MGSVs, Nursing Care and Terminal Illness waivers. What’s different here is a Death Benefit Bonus/Persistency Bonus Rider, provided at NO COST to the client. The schedule for the bonus on the death benefit portion is an immediate increase over the first ten years over a declining schedule.
The schedule for the bonus on the persistency portion is declining beginning in years 11+ 

American National Strategy 7 & 10 (8/06)
The 7 and 10 both bring guarantees based on 90% of premiums, a death benefit (DB) providing the greater of the full AV or Cash Surrender Value, trail commissions, and Nursing Home and Disability riders. An annual PTP structure a
Return of Premium rider in exchange for lower rates and caps, an enhanced DB rider providing as much as 45% of the gain of the contract (based on age) in exchange for 0.25%, and the GLIB. ANICO’s optional benefit, the “Lifetime Income Rider,” costs 0.40% only in the event of a gain in the contract. Clients are guaranteed annual withdrawals at a specified level (based on age), regardless if their AV goes to zero. Clients aged 60-69 = 5% withdrawals (w/ds); aged 70-79 = 6% w/ds; aged 80+ = 7%.

AmerUs Life MultiChoice Income Series (8/06)
The
MultiChoice Income Five, MultiChoice Income Seven, MultiChoice Income Ten, and MultiChoice Income Plus are a testament to AmerUs’ new dedication to 10/10 product development, as well as product innovation. AmerUs’ optional LifetimePay rider offers guaranteed annual withdrawals at a specified level, regardless if the AV goes to zero, but is banded every five years, by age, from 50-90+. Annual withdrawal levels vary from 4% - 8% based on these age bands. This rich rider offers additional features such as: guaranteed 4%
annual increases on the Benefit Base over 10-year accumulation period, or until commencement of income, automatic step-ups, and spousal continuation, all for 0.40% charge. Another popular trend is the annual PTP with participation rate strategy that adorns these products. Of course, you’ll also have a choice of annual PTP with cap, monthly averaging, monthly cap, fixed, or monthly averaging with multiple indices.

Equitrust Builder & Performance Bonus (8/06)  
The
Builder Bonus Index, a nine-year product with an 8% bonus has SLC of 1% on the initial premium and 1% on the AV on anniversaries 1-9. Performance Bonus Index,  on the other hand is a nine-year product with a 5% bonus; Both products have a higher minimum premium of $30,000.


North American Formula Series (7/06)
Both products are the same, but Choice uses a cap as the primary moving part, and Select uses a participation rate. With that in mind, here’s the rundown: MVA, 87.5% @ floating rate MGSVs, nursing home waiver, full AV upon death. Crediting methods offered include fixed, monthly cap, and annual PTP; indices offered on the annual PTP include S&P 500, S&P 400, DJIA, Nasdaq-100, Russell 2000, DJ Euro Stoxx 50 and Lehman Bros. Bond Index.


AIG Power Index (6/06)  
The
Power Index Annuity 7 and Power Index Annuity 9. Both are based on 90% @ 3% MGSVs, and have immediately 10% penalty-free withdrawals available. Although the only crediting method available is an annual point-to-point (PTP) strategy, caps are banded at
the $100,000 premium band. An especially attractive feature to bank marketers is the Return of Premium feature which is built-in to the product automatically and has no extra charge – caps are not lowered for the benefit.


American General Emerging Edge (5/06)
The 10-year MVA product is the first from AIG to offer traditional crediting methods
a choice of three different annual point-to-points with different participation rate/cap levels. The standard 90% @ 2% guarantee still applies, as does the death benefit that must be paid out over a five-year period for the full account value. 

Midland National Mainstreet Four (5/06)
yanked their three B/D only
Mainstreet IA products. This month, they have revamped the 4-year product and rolled it out to their general distribution as the Mainstreet Four. This IA is different from the first in a couple of ways. First (and probably most importantly), the MVA lasts only four years on the new product, instead of TEN. Secondly, you’ll notice a lack of crediting methods on the new product. 

Protective Life ProSaver Index Choice 5 (5/06)  
We celebrate the launch of PLC’s
ProSaver Index Choice 5 as Index Advantage 5 at West Coast Life), as a companion to their existing seven-year product. Both products are built upon the same chassis: sharing the same surrender charge scale, minimum guarantee of 100% at 1.5%, and full Account Value death benefit. Both products are banded at $50K of premium, and offer a ROP option in
exchange for lower fixed rates and caps (only to the bank distribution folks, but this IS becoming a bank channel trend). A choice of fixed strategies or annual PTP is available to the client .


American Investors BPA Series (4/06)
Teaming up with the geniuses at Genesis (designers of such products as the AIG Constellation, the American National Value-Lock, and the Sun Life MultiPoint)) the two powerhouses pump out the much-anticipated BalancePlus Annuity series.
We’ve got 12 and 8-year products, both based on 4-year term-end point crediting chassis where the client can elect to lock-in the gains at any point they wish.The minimums are NAIC- guarantees based on 87.5% of premium. Be aware there is an MVA, as well as Confinement and Terminal Illness waivers. The crediting method bears a little more explaining. This is a blend of a fixed and S&P 500 indexed allocation, which is currently in a 60% fixed/ 40% indexed blend. The feature that sets this product apart from the pack is the guaranteed death benefit rider. This rider provides an additional 4% accumulation (on the premiums) on the 8-year and 5% on the 12-year, in the event of death, in exchange for a 0.50% charge from the AV. 

Jackson National Life Elite AR Series (4/06)
A refresh of the ever-popular
Elite Annual Reset series. This isn’t just a tweak, competitors will notice that there are now 5, 7, 10, and 12 year terms on the series. For those clients interested in the Elite Annual Reset 9-year a  new 10-year has replaced it.
In addition to realigning the product terms, JNL has balanced the surrender charge scales so that they decline annually as opposed to remaining level for several years. However, the 90% on 3% guarantees and full AV at death still adorn the products. Withdrawals on the new series are based on the Account Value.

Lincoln Benefit Life Savers Index Plus & Premier (4/06)
The
Savers Index Plus and Savers Index Premier have NAIC-compliant Minimum Guaranteed Surrender Values  based on 100% of premium. Where previous LBL annuities offer few crediting methods, these two products offer an array of strategies: Annual Point-to-Point (PTP), Monthly Averaging, Monthly cap, Fixed, and Annual PTP with Low Watermark. The Annual PTP with Low Watermark method is a new strategy which utilizes the lowest point during the first 90 days of the term as the initial point in the measurement for the calculation (this method must be elected at issue, and the client cannot transfer monies into or out of the strategy once elected). The five-year Plus features an optional Return of Premium (ROP) in exchange for lower caps and rates. The ten-year Premier offers a 3% premium bonus and no ROP option..

Midland National Life New FIAs (4/06)
The
Capstone, Innovator Choice, and Prosperity Choice series each come with 7, 10, and 14-year terms. The 7-year products offer no bonus, the 10-year terms feature 5% bonuses, and the 14-year terms have 10% bonuses (Note these are the first up-front 10% bonus products to launch since Midland launched their Veridian series second quarter 2005, and the ONLY 10% bonus products.
Annuitization bonuses are also offered on all products in the lineup: 1% on the 7 and 10-year terms and 2% on the 14-year terms, as long as the income is taken over a minimum 5-year period certain.Options include Annual Point-to-Point, Daily Averaging, and Monthly PTP strategies. Indices include S&P 500, S&P 400, DJIA, Nasdaq-100, Russell 2000, and a brand new index to be offered to the world of IAs: the Dow Jones Euro Stoxx 50.


Allianz InfiniDex (3/06)  
The
InfiniDex, InfiniDex 5, and InfiniDex 10. are not unlike the MasterDex series, but the crediting method is
entirely new to the industry. The InfiniDex is a five-year product, the 5 features a 5% premium bonus, and the 10 features a 10% premium bonus and a two-tiered structure to go along with it (coincidentally this is the first 10% bonus product to launch since nearly a year ago.) All three products feature MVAs, issue ages to 85, and nursing home waivers. The minimum premiums are $25k on the two explicit surrender charge products, and the two-tiered product is a $5k/$2k minimum premium. The big story here is the crediting method, an entirely new brainchild by Allianz called “threshold.” The way it works is that when the policy is issued, a series of index levels are established that the index has to grow to, in order for “index credits” to be credited to the policy. If a current “index factor” of 5% is assumed when the S&P 500 is at 1,000, the index must reach a level of 1,050 in order for the policy to be credited with 3.5%. The next time the 3.5% will be when the S&P 500 hits 1,102.50 (1,050 x 5%), and so on. The trick here is that the 3.5% credit will not be credited unless the index hits the threshold level on a monthiversary. If the index is at 1,050 on the day before your monthiversary, and it falls to 1,049 on your monthiverary, you are S.O.L. Another big thing to be aware of is that if the index falls down to 900, you must get back up too 1,050 in order for your credit to be awarded. You don’t get credit for just ANY 5% increase. 

Americo Ultimate One Series (3/06)
This month they rolled out the
Ultimate One Series. The Ultimate One Index 7, Ultimate One Index 9, and Ultimate One Index 9 Bonus all offer nursing home waivers, 10% penalty-free withdrawals and the greater of the Account Value (AV) or the Minimum Guaranteed Surrender Value (MGSV) upon death. Not a far cry from the FlexPlus products, the Ultimate One series offers annual point-to-point (PTP) and monthly averaging strategies. On the PTP side, you choose your pricing lever: cap or participation rate. On the averaging side, they’ll give you a similar deal: do you prefer a cap, participation rate, or spread? SLC is 6% on 7-year and 8% on the other two products.

Genworth SecureLiving (3/06)
finally hopped in this month. The
SecureLiving Classic Index Annuity features a non-traditional interest bonus (ranging from 1.50% - 5.00%, based on premium). This is a straightforward product: seven-year surrender charge, NAIC-based MGSV’s, annual PTP strategy, and nursing home wiaver. 

Jackson National Life Elite Choice (3/06)
The first product chassis is the
Elite Choice, a series of 6, 8, 10, and 12-year products each offering the same surrender charge scale, beginning at 10%. The second product chassis is the Elite Choice Rewards, an entirely different animal. This series of 8, 10, and 12-year products is also built on the same surrender charge scale, which begins at 10%. It should be noted that the bonuses on these products have a recapture charge, in the event that the client decides to cash surrender during the first five years.
(This is the second product we’ve seen this on in the past six months.) So, the client will only be vested on a portion of the bonus if they cash surrender within the first five years of the contract. 

The Standard Index Growth 5 & 7 (3/06)
is our second new carrier to enter the market this month, with the new
Index Growth Annuity 5 and Index Growth Annuity 7. Again, simple design seems to be the strategy for these new entrants. Both products offer annual PTP and fixed strategies with caps that are banded at $100,000 premium. The bailout provision says if the caps on these products renew at a rate that is 2% less than the initial cap, the client has the option of surrendering the contract penalty-free
. Both products issue to age 90, and nursing home, terminal illness and death waivers come standard.


Aviva Progressive Index (1/06)
has rolled out the companion to their first IA, the Progressive Index. This new product, the
Elite Index Annuity, caught my eye with one of the most conservative surrender charge scales for a 5% bonus/10-year product that I’ve seen on the market.
The Elite is built on the same chassis as the Progressive Index: identical 10-year scale, beginning at 12%; same NAIC-based minimum guarantees based on 87.5% of premiums. The same 10% penalty-free withdrawals are available, as is the Nursing Home waiver; the death benefit also pays the greater of the Account Value or the MGSV.


American General Horizon MultiValue 12/05  
AG HorizonMultiValue Index Annuity
(IA) series. The lineup includes 5, 10, and 15-year products Like the original AG Horizon IAs, the MultiValue products offer monthly cap strategies, as well as a fixed allocations with multi-year guarantees, and roll-out annual point-to-point (PTP) strategies. In addition, a little less traditional (although more likely to return favorable gains) term end point strategies have been tacked on with five-year PTP allocations.


CUNA MEMBERS (11/05)  
The
MEMBERS series offers modest surrender charges, NAIC minimum guarantees, as well as nursing home and terminal illness waivers. Simple annual point-to-point and fixed crediting methods are available with rates and caps that are banded at two different levels. 

Farm Bureau Financial Asset Guardian (11/05)
FBL’s
Asset Guardian product has a very consumer-friendly surrender charge scale: a seven-year product that declines annually beginning at 7%. This SPDA uses only a monthly averaging strategy, but offers the full
account value at death, several surrender charge waivers, and 10% penalty free withdrawals annually. 

ING Secure 5 & 7 (11/05)
The issue ages on the new series have dropped from 85 to 80, and the minimum premiums are now set at $15,000, rather than the old products standard $5,000. On a positive note, the new series’ premiums are banded at $75K, as opposed to $100K (where the old product’s premiums were banded).
The other buzz on these products is that ING decided to give clients a choice of pricing levers on their point-to-point (PTP) crediting methods. So, there’s a fixed strategy, a monthly averaging strategy (with an asset fee), an annual PTP (with a cap), or an annual PTP (with a participation rate). There’s Secure Index Five, Secure Index Seven (the replacement for Secure Index), and Secure Index Opportunities Plus a ten-year product with a 5% bonus. 

Jefferson-Pilot Clear Point & OptiPoint (11/05)  
JP decided to discontinue sales of their
Eclipse 8 and Eclipse 10
recently. These two indexed products were unique in that they offered gain triggered premium bonuses that were only credited if the index had zero or positive growth. They also utilized gain triggered, two-year point-to-point and two-year monthly point-to-point crediting methods. An announcement of the product purge could not be found, they simply seemed to disappear from the rate sheets. The launch of Clear Point 5 and Clear Point 7 give JP a total of five IAs that are exclusive to their bank distribution partners. These five and seven-year products have Account Value guarantees (based on 100% of premiums), which are credited with 1.25% and 1.50% interest, depending on the product. The series offers annual PTP strategies, which is a first for Jefferson-Pilot.  In addition, a fixed strategy is available, and caps and rates are banded at the $100K premium band. Another first for JP is that the series features terminal illness and nursing home waivers, offers a 15% penalty free withdrawal feature, Product development at Jefferson-Pilot in their non-bank channels continued with the rollout of their OptiChoice series of Indexed Annuities. The Optichoice 5, 7, and 9 is JP’s first venture into the annual PTP market in their non-bank channels, as well as their first attempt at tackling the monthly averaging market. This series also features Account Value guarantees as well as terminal illness and nursing home waivers.


Conseco Annuity & RetirementEdge (10/05) ,
The new AnnuityEdge and RetirementEdge products debut.
Agents will be pleased to see new DJIA strategies on both products, as well as a monthly cap based on the S&P 500.. Further diversifying the allocation choices are six different options on AnnuityEdge and eleven different options on RetirementEdge. The AnnuityEdge has an 8 year surrender period, 3% up-front bonus.. The RetirementEdge has a 12 year period that pays 7.50% and offers a 5% up-front bonus that vests at 1% annually. 

Fort Dearborn Life Index Fortifier (10/05)
is the newest carrier to enter our diverse market of Indexed Annuities. This group benefits provider brings five productswith the Index Fortifier series. The chassis of all five IAs is the same, offering four crediting methods based on the S&P 500 (monthly cap, annual point-to-point, and monthly averaging). Product terms range from seven years on the Index Fortifier VII to 14 years on the Index Fortifier XIV.
Index Fortifier death benefits are the greater of the Account Value or Minimum Guaranteed Surrender Value and
clients have the option for 10% penalty-frees after year one. Strong guarantees of up to 100% @ 2.25% add to the consumer’s value on this newest series.

Midland National Mainstreet (10/05)  
Specifically
developed for and marketed through their broker/dealer distribution (they are not registered IAs, they are just sold through registered reps). The Mainstreet product is the first IA in my recollection to have full liquidity and no surrender charges whatsoever. The Mainstreet, along with Mainstreet Four and Mainstreet Seven, offer tremendous diversification with their 13 different crediting strategies. These products are the first IAs to feature strategies based on the Dow Jones Euro Stoxx 50 index. And more notably, they bring back a bearish gain  method similar to one offered on the field a few years ago. The new “Inverse Annual Point-to-Point” crediting method provides index gains based on declines in an index.


American Equity Future Platinum (8/05)  
They’ve taken the chassis of their top-seller, the
Future Gold, and added the popular interest crediting strategies of their most recent product, the Compass Select. The revamped Platinum provides a surrender charge scale that begins 2.50% lower than the original Gold, and a minimum guarantee that has dropped from 85% @ 3.5%, to a rate more in line with competitors: 87.5% @ 2.10%. AEIL has added a couple of strategies to the annuity, now giving clients a choice of
either a moving participation rate OR a moving cap. These options are available on both their S&P 500 monthly averaging (a total of six indexed strategies and one fixed). 

American Investors American Edge (8/05)  
This product is one of AIL’s shorter term products (identical to Multi-Choice) offering a seven-year surrender charge. It also debuts with NAIC-based minimum guarantees, three S&P 500 strategies, and one fixed strategy.
The minimum premiums is $25,000  Confinement and terminal illness surrender charge waivers are both available, as well as trail commission options.

Equitrust MarketBooster Index (8/05)  
The
MarketBooster Index, has a nine-year surrender period, offers a five percent bonus, NAIC-based guarantees,full Account Value at death,
fixed strategy in addition to daily averaging and annual point-to-point methods indexed on the S&P 500. Also offered is S&P 500 two-year monthly averaging strateg.

Lafayette Life Advant-Edge (8/05)  
They recently discontinued sales of their Marquis Flex 5 and Flex 10 indexed annuities, while launching their new Advant-Edge 5 and Advant-Edge 10. Contrary to their names, these are ten and fifteen year products. Both products provide a 60 day window with no surrender charges before the end of the contract term at the end of year five on the 5, and at the end of year ten on the 10. (Hence, the marketing names) The minimum guarantee is 100% @ 2% for both contracts. 

Nationwide Clear Horizon (8/05)
enters the IA market for the first time, with their
Clear Horizon product. This seven-year product has a modest surrender charge scale which declines biennially, beginning at 7%.
It also offers both a fixed interest strategy, and an annual point-to-point strategy (S&P 500), along with the  option for a Return of Premium, in exchange for lower rates and caps. The minimum guarantees are 90% @ 1.5% for this new addition to the market. 

Sun Life SunDex ProVantage (8/05)  
The
SunDex ProVantage has a crediting method concept similar to their last rollout, the SunDex 100; however, the ProVantage is a yearly monthly averaging product rather a three year point-to-point.
Both products offer an “Excess Participation Rate” for gains above the product cap. This nine-year IA offers the standard Sun Life minimum guarantee of 90% @ 1.75%, as well as trail commission options.


American National Value-Lock Series (7/05)
just rolled out their ANICO Value-Lock 7 and ANICO Value-Lock 10 indexed annuities (IAs). Both single-premium products use rolling monthly averaging of the S&P 500 index, currently with 100% participation, no caps, and no spreads. The seven-year credits interest at the end of the seven-year term, and the 10 at the end of its term as well (imagine SunLife MultiPoint interest crediting, without the annual high water mark). The interesting new twist to these contracts is that both annuities provide a one-time lock-in of index gains, which can be elected anytime after the end of the second year. So, if you’re half-way through the contract, and the S&P 500 spikes to levels that you don’t think it will return to, you can elect the lock-in feature. Keep in mind on the other hand, that if the lock-in is elected, the contract will no longer participate in indexed gains. Subsequent interest will be credited at a fixed rate.  

Conseco Patriot 12 (7/05)
The straightforward design offers a lower surrender charge scale than the Liberty  product, as well as simpler crediting options. Monthly averaging and annual point-to-point options are indexed from the S&P 500 only, and a fixed strategy option is also available for the client’s premium allocation preferences.  The full account value is paid upon death, nursing care and terminal illness waivers are also available. 

Standard Life & Accident Legend Series (7/05)  
recently entered the IA market with their Legend series of products. Legend Select, Legend Advantage, Legend 2, Legend 4, and Legend 6 were all built on the same 15-year chassis. Although the products have an extended charge, the surrender charge scale is relatively low (considering there are bonuses ranging from 2% - 6% on three of the five products). All five contracts offer the greater of the Annuity Value or Surrender Value upon death, as well as confinement and disability waivers (which are included at no cost). Minimum guarantees are at 87.5% of premiums credited with 1% - 3%. Each product offers either a fixed account, or an S&P 500 indexed account which uses monthly averaging, credited on an annual basis.   


   

 

 

Copyright 1998-2016 Jack Marrion, Advantage Compendium Ltd., McKinney TX (314) 255-6531.  All information is for illustrative purposes only, does not provide investment or tax advice. No index sponsors, promotes, or makes any representation regarding any index product. Information is from sources believed accurate but is not warranted. Advantage Compendium neither markets nor endorses any financial product.