Close Close

Life Health > Life Insurance

Inviva Charges Flat VA Insurance Fee

Your article was successfully shared with the contacts you provided.

A New York company has started selling a variable annuity that comes with a flat insurance fee of $20 per month.[@@]

The company, Inviva Inc., says its Jefferson National Life Insurance Company subsidiary will charge just $240 in insurance fees per year for a $100,000 investment in the new Monument Advisor VA contract. That total will be much lower than the industry average, Inviva says.

Inviva has designed the contract for fee-based financial advisors. The contract pays no sales commission and has no product surrender charge, Inviva says.

Jefferson National will require annuity holders to pay the investment charges on the underlying funds. Those charges range from 0.26% to 2.54% per year.

Investment options will include real estate, hard assets and alternative investments as well as conventional stock and bond funds, Inviva says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.