Product Trends

ANNUITIES

Huize partners with Sun Life Everbright Life Insurance to launch “Everbright Smart Choice” – A customized retirement Annuity insurance product. GlobeNewswire, August 18, 2021.

Everbright Smart Choice is a customized retirement annuity insurance product. There are three key product highlights: (i) high flexibility on premium payment terms and annuity payout options; (ii) a lifetime annuity income stream with a high cash value; and (iii) the option to get access to the Sun Life Everbright universal account with a guaranteed return of 3%. Moreover, eligible customers will also enjoy priority usage rights and discounted pricing to the Sun Life Everbright Elderly-Care Communities nationwide, at a lower threshold compared to other annuity products in the markets.

Aditya Birla Sun Life Insurance Launches Guaranteed Annuity Plus. Mint, August 13, 2021.

ABSLI Guaranteed Annuity Plus is a single premium annuity plan. The plan can be customised to suit an individual customer’s retirement requirement. Customers can choose between an immediate or deferred annuity. The plan allows individuals aged 45 and older to choose from 10 annuity options, from single life to joint life, each tailored to an individual’s post-retirement goals.

Future Generali Life Insurance Launches Immediate Pension plan. NDTV, August 13, 2021.

The Future Generali Saral Pension plan is a single premium non-linked, non-participating individual immediate annuity plan with two annuity options. It offers a guaranteed annuity on yearly, half-yearly, quarterly, or monthly basis.

LIC launches Saral pension plan. How much regular income you will get? Mint July 1, 2021.

The Saral pension plan is a non-linked, non-participating, single premium individual immediate annuity plan. The two options are life annuity with return of 100 percent of purchase price, and joint life last survivor annuity with return of 100 percent of purchase price on death of the last survivor.

Etiqa Insurance launches its first digital ILP, Tiq Invest Yahoo News, September 27, 2021.

Tiq Invest is an Investment Linked plan. The charges are just 0.75% per annum of the account value. Policyholders can choose from a range of funds, with the freedom to top up and withdraw funds, or switch packaged funds at any time, free of charge.

Manulife Singapore and DBS Bank launch RetireSavvy – a first-in-market customisable digital retirement solution – offering Singaporeans greater flexibility in charting their financial future. Press release, September 20, 2021.

RetireSavvy is a flexible, digital retirement plan. Customers can also update the income pay-out period, retirement income rate, and/or defer retirement age under their RetireSavvy plans. The plan offers guaranteed acceptance with no underwriting.

Legacy Marketing Group announces Launch of JourneyMark Fixed Indexed Annuity; First Joint FIA with Western & Southern Financial Group Press release, August 16, 2021.

JourneyMark is a joint fixed indexed annuity. JourneyMark with Cascade Rider features return of premium and minimum account value guarantees, and the 10-year product includes a 6.5% premium bonus.

Jackson introduces new Retirement Investment Annuity. Business Wire, August 16, 2021.

The Retirement Investment Annuity (JRIA) is a fee-based variable annuity designed for independent registered investment advisors (IRIAs) to specifically address their annuity concerns. The annuity offers investment freedom and legacy protection.

Brighthouse Financial introduces enhancements to Its Flagship Shield Level Annuities. Press Release, August 2, 2021.

Brighthouse Shield Level Annuities have been enhanced. One feature is the Performance Lock option which allows clients to lock in the value of the chosen index at the close of any business day once during their term. The return of premium death benefit age has been increased to 80 years of age.

CUNA Mutual Group launches ZoneChoice Registered Index-Linked Annuity. PR Newswire, July 22, 2021.

The new ZoneChoice Annuity is a registered index-linked annuity, issued by MEMBERS Life Insurance Company. Customers will be able to personalize their investment strategy to meet their unique risk tolerance.

Allianz Life announces Entry into Defined Contribution market with launch of Allianz Lifetime Income+ Annuity Business Wire, July 21, 2021.

The Allianz Lifetime Income+ Annuity offers plan participants a stream of guaranteed lifetime income that is flexible and portable. The Annuity can help customers effectively manage the risks of inflation and market volatility.

American National announces new Indexed product with new indices and strategies Globe Newswire, July 1, 2021.

Signature Protect is an indexed universal life (IUL) product. It offers guaranteed death benefit protection from ages 80 to 121. The plan also offers Accelerated Benefit riders which offer Living Benefits covering chronic, critical, and terminal illness at no additional premium.