Annuities

Hong Kong

FWD launches RetireFun to offer enhanced flexibility and choice for retirement planning. Asia Advisers Network, November 9, 2020.
The RetireFun Deferred Annuity Plan is a Qualifying Deferred Annuity Policy (QDAP). It offers enhanced flexibility and choice for customers. The plan offers five to ten premium payment period, with an annuity period of ten to 20 years. The plan also offers an extended grace period of up to 365 days on premium payments.

India

ICICI Prudential launches new guaranteed pension plan amid rising inflation. Check benefits, features. Mint, December 18, 2020.
The ICICI Pru Guaranteed Pension Plan is an innovative retirement plan that offers guaranteed life-long income. It is a non-participating individual annuity product. Customers can choose between an immediate and deferred annuity.

LIC launches pension scheme. The Indian Express, October 22, 2020.
The New Jeevan Shanti plan is a non-linked, non-participating, individual, single premium, deferred annuity plan. The models of annuity available are yearly, half-yearly, quarterly, and monthly. The minimum annuity is Rs 12,000 per annum.

Japan

Credit Agricole launch JPY-based single premium variable annuity “Koushu-ryoku”. Press release, November 16, 2020. (Text in Japanese)
The plan has an issue age of 20-76 years of age. The plan has a single premium with an investment period of ten years. It offers a death benefit. The plan is available via the bancassurance channel.

United States

USAA Life Insurance introduces three-year fixed guaranteed growth annuity (FCG).  PR Newswire, December 14, 2020.
USAA introduces a new FCG which provides a fixed guaranteed interest rate for a certain period. FCG3 provides a fixed guaranteed interest rate for the first three years. It also provides critical care withdrawals that can be used for nursing home care, assisted living or home health care services.

Nationwide Indexed Principal Protection first in suite of In-Plan Annuities from Nationwide. Press release, December 7, 2020.
Nationwide Indexed Principal Protection  is an in-plan group fixed indexed annuity. It is the first of a planned suite of in-plan annuities that will be launched over the course of 2021. The annuity sets an annual cap rate for each index account every calendar quarter. Customers will not lose their principal even if the market index goes down.

AIG Life & Retirement launches the only index annuity in New York that guarantees lifetime income growth. Business Wire, October 14, 2020
The Power Index Premier NY Index Annuity with Lifetime Income Builder has been exclusively developed for New York customers. The Income Builder Guaranteed Living Benefit (GLB) rider delivers income that is guaranteed to grow every year.