Slimmer variable annuities attract thin following

Despite the market's lukewarm reception to John Hancock's slimmed-down variable annuity, other insurers continue to introduce competing products aimed at financial advisers who have usually sidestepped such VAs... Pacific Life Insurance Co. released its simplified product two weeks ago through Edward D. Jones & Co. LP. ING Financial Solutions will release its version in March and end sales of traditional variable annuities.

Although insurers hope that there will be demand for variable annuities with fewer investment options and plain-vanilla benefits, it seems that the products' lower price tags and lower commission rates — coupled with fewer investment choices — are the chief reasons for the lack of broker enthusiasm...

Investment News: Slimmer variable annuities attract thin following