F&G aims to create a market for fixed indexed annuities: annuities are moving



What would you like to know

  • Lincoln introduced a variable annuity with a menu of investment options for 125 funds.
  • Symetra adds two registered single premium indexed annuity contracts.
  • A new product from Bankers Life offers a lifetime income guarantee.

Fidelity & Guaranty Life Insurance Company hopes to bring the buzz of the Registered Indexed Annuity (RILA) market to the non-variable annuity market.

The Des Moines, Iowa-based insurer introduced the Dynamic Accumulator annuity contract, which is based on a “fixed index annuity” framework.

Like an RILA contract, the new contract has a deposit rate which can be linked to the performance of one or more investment index options.

Unlike an RILA contract, the contract is filed as a non-variable annuity with state insurance regulators, and F&G promises to protect an annuity holder who meets the contract’s requirements against loss of capital related to the investment.

A contract owner can change the level of risk each year, choosing to lock in gains and agreeing to a relatively low cap on the increase in the deposit rate, or putting the gains at risk in exchange for a chance to see the deposit rate increase. lending rate increase. more, says F&G.

F&G is distributing the contract – now available in 35 states – through independent marketing organizations.

In other news from the annuity movements:

Lincoln Financial Group introduced the Lincoln Advantage Pro variable annuity, with access to Lincoln Defined Outcome funds.

The contract allows financial professionals and their clients to access approximately 125 different funds.

One arm of Milliman serves as a sub-advisor for the funds.

A buyer can use one of the funds to link the contract credit rate to the performance of a market index for one year at a time. The buyer gets a buffer against index losses in exchange for accepting a cap on the maximum indexed earnings. Additionally, the buyer can reallocate assets within the contract and reset the cap and buffer levels, Lincoln explains.

Symetra Life Insurance Company added two registered single premium indexed annuity contracts (AIPIs): the Symetra Trek Plus Indexed Annuity and the Symetra Trek Frontier Indexed Annuity.

Symetra has been selling RILA contracts since March 2019.

The Trek Plus contract includes three options to protect the value of the contract against losses, including a “barrier option” which protects against losses if and only if an investment index falls by less than 15%. Policyholders who choose this option may earn higher returns if and when an investment index rises.

The Trek Frontier contract offers one-year and six-year interest durations and two investment index drop protection strategies. Buyers can choose between a hard bottom or limit of 10% on market losses, and a buffer that can protect the holder against investment index declines of up to 20%, even if an index drops by. more than 20%.

Symetra distributes annuities through banks, wire houses and independent brokers. The products are delivered at no annual cost.

The life of bankers, a branch of CNO Financial Group, launched the Guaranteed Lifetime Income Annuity Plus with Enhanced Benefit (GLIA Plus) – a single premium, non-variable indexed annuity.

The enhanced benefit provision can help a purchaser use additional income withdrawals, for up to two years, to pay for restorative or long-term care.

Bankers Life also sells Security Builder Indexed Annuity, Premium Premium Indexed Annuity, Guaranteed Lifetime Income Annuity and GrowthPoint Indexed Annuity.

The new GLIA Plus product is available in 49 states except New York through Bankers Life’s own agents.



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