The Guardian Life Insurance Company of America has looked at the ups and downs in the stock market and decided to offer annuity benefits guarantees anyway.
The New York-based insurer introduced its first non-variable indexed annuity, the Guardian Secure Index Annuity contract, earlier this week.
The annuity protects holders against losing account value as a result of investment market turmoil.
The investment index menu includes the S&P 500 stock index, the AB Global Allocator Index and the PIMCO Balanced Allocation Plus Index.
An optional guaranteed living benefits rider, the Guardian Income Magnifier Rider, can keep a contract’s guaranteed level of annuity income from falling during the life of the contract.
An annuity buyer who wants inflation protection might be able to use the rider to provide that.
A Guardian subsidiary, The Guardian Insurance & Annuity Company, backs the rider.
Guardian is selling the new product through registered representatives affiliated with its Park Avenue Securities arm.
Jackson, Pacific Life and Annexus also have annuity news.
Jackson and Producers Choice Network
Jackson National Life Insurance Company has agreed to distribute annuities aimed at fee-based advisors through the Producers Choice Network’s One Insurance Solution for RIAs.
Producers Choice Network is a subsidiary of Raymond James. It has relationships with about 6,500 investment advisor representatives.
Pacific Life and Halo
Pacific Life has started distributing annuities through Halo Investing’s online annuity distribution platform for advisors.
Annexus and Signal Advisors
Annexus — a product design and distribution company — has agreed to add Signal Advisors to its insurance marketing organization team.
Signal is a Detroit-based IMO that opened its doors in 2020.
Pictured: Volatility (Image: maximma/Adobe Stock)