Here’s What to Expect if You Sell Annuities
August 22, 2017 by Cyril Tuohy
Over the next three years, retail life and annuity agents and financial advisors can expect simpler annuity structures, more fee-based annuities and fewer riders and income guarantees in product rollouts, a consultant said Wednesday.
The days when annuities giants pumped out an “overwhelming volume of complex, tough-to-understand annuity products are gone,” said Chris Eberly, vice president of research and consulting with Novarica, an insurance IT consultancy.
Insurers instead have focused on “a few key blocks of business and simplifying products within those blocks.”