Jackson Launches Annuity for Independent RIAs: Annuity Moves

Jackson National Life Insurance Co., in the wake of its demerger from Prudential plc, has launched a fee-based variable annuity designed for independent RIAs to address client annuity concerns.

The Jackson Retirement Investment Annuity has a core contract charge of 0.40%. An optional add-on living and death benefit is available for an additional charge.

Jackson +Protect Living Benefit is available for an additional charge of 0.30% during the deferral period and 0.75% during the withdrawal period.

The new annuity has 110 institutionally managed and priced subaccount options.

Delaware Life Insurance

Delaware Life Insurance Co. has introduced a variable annuity that could appeal to financial professionals and clients who are not sure what the best defenses are.

The company’s new Delaware Life Accelerator Prime Variable Annuity contract offers holders a chance to switch between a focus on protecting income and a focus on protecting investment value during the first seven to 10 years that the contract is in force.

Delaware Life is calling those options the Armor Flex Seven and Armor Flex Ten “guaranteed market protection benefit” riders.

The riders offer the purchaser a choice between a buffer than can protect a 10% market drop or a 20% market drop over a period of either seven years or 10 years.

A buyer can also choose between two guaranteed lifetime withdrawal benefit riders and two guaranteed minimum accumulation benefit riders.

American Equity

American Equity Investment Life Insurance Co. has introduced the EstateShield 10 non-variable indexed annuity.

Lifetime income payments can begin after 10 years.

The contract offers holders access to 12 interest crediting options, and one- and two-year crediting strategies linked to five different index options.

A contract owner can withdraw up to 10% of purchase payment each year, beginning after the first year, penalty free.

The contract comes with a lifetime income benefit rider with a well-being benefit for no additional fee. For holders who meet the eligibility requirements, the rider can increase withdrawal amounts by up to 150% for single owners and by up to 200% for joint owners, for up to five years.

Another feature is a death benefit available for no additional fee. If the annuity holder dies, the beneficiary can get either 75% of the benefits account value, paid all at once, or a stream of payments. A beneficiary who chooses the benefits payment stream will get an amount equal to 100% of the benefits account value, paid over five years.

There is also a base death benefit option that provides access to the contract value, paid in a lump sum, with no surrender charges.

CUNA Mutual

CUNA Mutual Group has introduced the ZoneChoice annuity contract.