Streamline Variable Annuities, Novarica Urges

After a period of tremendous creativity, where insurance companies were adding all kinds of bells and whistles to variable annuities, the industry needs to step back and streamline the products to appeal to customers and financial advisors alike, according to research company Novarica...

Two reports from Novarica show that rather than selling variable annuities as a tax-advantaged investment, advisors are beginning to emphasize their guaranteed lifetime income and talk up their use as a retirement planning tool. Novarica also recommends that insurers improve profitability by rationalizing product lines, simplifying products and lowering commissions...

Financial Planning: Streamline Variable Annuities, Novarica Urges