Annuity issuers may have designed product guarantees or other features or updates before the recent tariff turmoil began, and that could create opportunities for clients who want annuities with value guarantees or buffers.
AuguStar Retirement, a company created after Constellation acquired Ohio National, has introduced a new bonus structure.
Clients who buy the company's OrionShield 10-year fixed indexed annuity can use the structure to get a 24% premium bonus credited to the initial premium on the first day, the company said.
The company noted that it's making its new premium bonus options available to annuity buyers ages 81 to 85 as well as to younger buyers.
AuguStar hopes to use the new features to expand sales through the independent marketing organization channel.
Standard Allocation Choices
Athene is trying another strategy to get retirement savers' attention: asset allocation "pre-sets" for two of its products, the Athene Accumulator fixed indexed annuity and the Athene Protector fixed indexed annuity.
The pre-set approach lets annuity buyers choose from a set of standard options for deciding how much annuity value to tie to each available interest crediting strategy.
IncomeTech
Athene and Jackson National recently worked with the Insured Retirement Institute to complete the first paperless annuity replacement transaction conducted using a new process developed through an Insured Retirement Institute initiative.
Now, Sammons Financial is adopting the paperless annuity transfer process at three of its insurers: Sammons Institutional Group, Midland National and North American for Life and Health.
Self-Service
American National is trying to give consumers another chance to buy annuities on their own, instead of waiting for agents to persuade them to create an insured stream of retirement income.
The company has introduced a system that will let a consumer apply online for a multi-year guaranteed annuity with a rate guarantee period of five, seven or 10 years.
The minimum premium is $5,000.
Deals
Luma Financial Technologies raised $63 million from a group led by an arm of Sixth Street to expand its systems for offering annuities and alternative investments.
Vertical Vision Financial Marketing, an AmeriLife affiliate, acquired the Ohlson Group, a field marketing organization that distributes annuities and other products.
People
Jackson Financial named Chris Raub president of its Jackson National Life operating subsidiary. He previously was Jackson's chief risk officer.
Annuity.com hired Mark Ballstaedt to be chief technology officer. He previously was chief technology officer of Free Range Space, a consulting firm, and chief information officer of Young Living Essential Oils.
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