Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Retirement Planning > Retirement Investing > Annuity Investing

NAILBA 29: Genworth Eyes Indexed Annuity Market

By Allison Bell

X
Your article was successfully shared with the contacts you provided.

GRAPEVINE, TEXAS — Genworth Financial Inc. may introduce an indexed annuity in 2011 — and a long term care insurance policy with an embedded wellness feature.

Buck Stinson, a vice president at Genworth, Richmond, Va. (NYSE:GNW), talked about product strategy and the economy in a telephone interview about Genworth’s efforts at the 29th annual meeting of the National Association of Independent Life Brokerage Agencies (NAILBA), Fairfax, Va.

Stinson was not able to attend, but Genworth had a large contingent here and today donated $20,000 to the NAILBA Charitable Foundation. (Prudential Financial Inc., Newark, N.J. (NYSE:PRU), followed up by donating $25,000.)

Genworth has been here at NAILBA promoting a book value annuity, a single-premium immediate annuity and a new market-value-adjusted annuity, and it wants to bring out an indexed annuity to round out the product line, Stinson said.

***

We’re “live tweeting” NAILBA 29 here, under the Twitter name NatUndLife.

***

Genworth also wants to respond to the concern created by the recent decision of MetLife Inc., New York (NYSE:MET), to pull out of the long term care insurance market, Stinson said.

“We want to make sure everyone there [at NAILBA 29] understands our commitment to the long term care industry,” Stinson said.

Stinson said the economic outlook at the 2009 NAILBA annual

meeting seemed uncertain.

This year, he said, confidence about stability seems to be returning, and that should bring consumers back to the table.

“I’m not cautiously optimistic,” Stinson said. “I’m optimistic.”

But consumers likely will start by buying protection products with fixed returns and strong guarantees, Stinson said. He expects consumers to take longer to warm up again to variable-rate products.

After the past 2 years, he said, consumers and companies “are a little bit reluctant to roll the dice” with retirement and protection products.

NOT FOR REPRINT

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