Variable annuities now focusing on pricing, security

Product design is out with variable annuities, replaced by pricing and their security as a retirement vehicle, according to the author of a study on the variable annuity market.

“After a period of intensely focusing on product design in the interest of winning new business, companies are instead looking at their pricing and benefit richness and returning to the original variable annuity value proposition, which holds that VAs offer a floor upon which people can build their retirement security,” said Peter Sun of Milliman Inc., a global consulting and actuarial firm, that performed a study on the variable annuity market...

IFAwebnews: Variable annuities now focusing on pricing, security