What You Need to Know
- Midwest Holding is issuing the new MYGA contract through its American Life subsidiary.
- Equitable says it is expanding its annuity distribution pipes.
- A PGIM analyst has given a Security Benefit product a boost.
Midwest Holding — a Lincoln, Nebraska-based company —says its American Life & Security Corp. subsidiary has started selling a multi-year guaranteed annuity (MYGA) contract aimed at RIAs.
The contract is the first American Life MYGA aimed at RIAs, Midwest Holding says.
The company is offering versions with three-year rate guarantees and five-year rate guarantees, both for retirement arrangements that qualify for special tax treatment and for non-qualified arrangements.
The contract is available in 21 states today. Midwest Holding is working to get the product approved in more states.
What Your Peers Are Reading
Equitable says it’s now distributing fee-based versions of its variable and index-linked annuity products through the Envestnet Insurance Exchange.
Fiduciary Exchange (FIDx) operates the insurance exchange.
Security Benefit Corp. — a Topeka, Kansas-based annuity issuer — is welcoming the recent publication of an analysis by David Blanchett, head of retirement research at PGIM DC Solutions.