Index Accounts Added To The Security Benefit Total Value Annuity
October 24, 2017 by Cyril Tuohy
Four new index accounts have been added to Security Benefit Life’s Total Value Annuity, the company announced. This is a product in a market segment in which sales are expected to rise with the delay of the Department of Labor’s fiduciary rule.
One- and two-year accounts based on the Standard & Poor’s 500 Low Volatility Daily Risk Control 5% Index, and one- and two-year accounts based on the S&P Multi-Asset Risk Control 5% Index, were added, the company said.
“Adding new index accounts gives financial professionals more options to diversify client portfolios and help clients reach their retirement-planning goals,” Doug Wolff, president of Security Benefit, said in a news release.
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Insurers sold $58 billion worth FIAs last year, according to Wink’s Sales & Market Report, and market analysts are waiting to see if the segment breaks last year’s record.
Second-quarter FIA sales rebounded 13 percent to $14.6 billion compared with the first quarter, though FIA sales were still down nearly 6 percent when compared with the year-ago quarter, Wink reported.