Big insurers launching fee-based annuities

Sensing demand, they ready products that are lower-cost, simpler

In an attempt to appeal to dually registered advisers, major life insurers are launching fee-based annuities.

Allianz Life Insurance Company of North America said May 1 that it had filed a registration statement with the Securities and Exchange Commission for a fee-based variable annuity. Allianz also is considering the introduction of a similar product next year for registered investment advisers. The product would involve having a custodian hold the annuity...

Investment News: Big insurers launching fee-based annuities