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Life Health > Annuities

Jackson Launches Annuity for Independent RIAs: Annuity Moves

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What You Need to Know

  • Delaware Life’s contract lets holders use riders to toggle between income and investment protection.
  • CUNA Mutual is offering an index-linked variable with a choice between floors and buffers.
  • The Alliance for Lifetime Income is the sole sponsor of the Rolling Stones' new No Filter Tour.

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.

The product is an index-linked variable annuity.

CUNA Mutual has its roots in distributing insurance products through credit unions. The company is writing the new contract through its MEMBERS Life Insurance Co. affiliate.

The ZoneChoice contract offers purchasers a choice of floors, which can protect a specified amount of contract value, and buffers, which can protect against a specified drop in the value of a market index.

The index menu includes a new Barclays Risk Balanced Index, which allocates assets between 50 U.S. low-volatility stocks and fixed income instruments. The menu also offers the S&P 500 Index and a declared-rate account that lets buyers lock in a predetermined rate for one year.

Surrender charges range from 0% to 9% during the initial index period.

Brighthouse Financial

Brighthouse has updated its Brighthouse Shield Level Annuities index-linked variable annuity.

For Shield options to a cap rate, a new Performance Lock feature will help clients “lock in the value of the chosen index at the close of any business day once during their term,” according to Brighthouse. For the rest of the term, the “Locked Index Value” will be used to calculate the index performance for the Shield option.

Brighthouse is also adding one-year Shield options with Shield rates that provide protection against losses equal to 15% or 25% of the protected account value.

Another change relates to the return-of-premium death benefit.

The maximum age for a client to receive the benefit has been increased to 80, from 75.


Simon Annuities and Insurance Services has added the LiveWell variable annuity contract from Midland National Life Insurance Co..

Midland National is an arm of Sammons.

The contract is the first variable annuity on the Simon annuity exchange.

The Rolling Stones

The Alliance for Lifetime Income is the sole sponsor of the Rolling Stones’ new No Filter Tour, which is set to start Sept. 26 in St. Louis.

The retirement income awareness group was also going to be the sponsor of the Rolling Stones’ 2020 tour, before that version of the tour was canceled as a result of the COVID-19 pandemic.

(Image: Farizun Amrod Saad/Shutterstock)


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