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December 06, 2017 at 12:06 PM
An annuity analysis tool maker has finally released two major new comparative illustration tools.
Cannex Financial Exchanges Ltd. says the new tools, which represent the culmination of more than a decade of research, can help advisors show clients how annuities from multiple carriers might perform in a wide range of scenarios.
The Cannex VA Analysis system illustrates how variable annuities might perform, and the Cannex FIA Analysis system illustrates how indexed annuities might perform, the company says.
The systems can illustrate what might happen to the guaranteed portions of contracts and riders.
The systems can also show what might happen to the performance of annuity components with returns linked to the performance of variable annuity separate accounts or investment index benchmarks, according to Cannex.
The systems now hold data on annuities from about two dozen insurers.
(Related: Have Trouble Comparing VA, FIA Riders? Test Drive This Tool)
Product designers at Cannex have built a simulation process into the systems, to try to help users understand how the products might do in many different randomly generated situations, rather than in just a handful of good, bad and moderate situations.
