Does Your Suffering Need Buffering?
June 9, 2020 by Kerry Pechter
Buffered or structured variable annuities ‘are the new shining star of the annuity market,’ said Sheryl Moore, CEO of Wink, Inc., which tracks annuity sales. ‘This is where life insurers will start focusing their product development resources.’
Ten short years ago, the annuity developers at AXA Equitable (now Equitable Financial) faced a dire challenge. Their flagship variable annuity had become an albatross, thanks to volatility and low rates in the wake of the Great Financial Crisis. They needed to create a new vehicle for the new environment.
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“Structured annuities are the new shining star of the annuity market,” said Sheryl Moore, CEO of Wink, Inc., the Des Moines-based annuity market analysis firm. “There’s a perfect storm fueling sales for this product, as there was for fixed indexed annuities after 2008. This is where life insurers will start focusing their product development resources.”