1What Happened
Two notable annuity product launches hit the market this week:
- Prudential's "Elevate" Fixed Indexed Annuity Suite: Prudential Financial launched its new Elevate suite of fixed indexed annuities designed for the independent marketing channel. This expands product availability for advisors helping clients create guaranteed retirement income while maintaining some market upside potential.
- Jackson National's New 6-Year RILA: Jackson National Life Insurance launched a new registered index-linked annuity (RILA) today, featuring a Dow Jones Industrial Average index option with a six-year term. RILAs offer a middle ground between traditional fixed annuities and variable annuities — some market participation with defined downside protection.
2The Detroit Angle
With interest rates still at historically favorable levels compared to the post-2008 era, fixed indexed and registered index-linked annuities are offering strong protection and income guarantees for retirees looking to secure their income floor.
3Janine's Take
If you have been on the fence about annuities, this is a good time to explore what today's products look like — they have evolved significantly from the products of 10-15 years ago. Exploring current fixed indexed annuity rates could reveal strong guarantees for your portfolio.
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