IRI: Annuity Change Filings Slow

July 29, 2010 by NU ONLINE NEWS SERVICE

Published 7/28/2010 

Insurers filed 76 material U.S. variable annuity changes in the second quarter, down from 213 in the second quarter of 2009.

Advanced Sales and Marketing Corp., Oakbrook Terrace, Ill., has included those statistics in a report distributed by the Insured Retirement Institute, Washington.

Most of the filings involved fee increases, tweaks, and removals of riders and contracts, the researchers say.

Insurers introduced 8 new contracts, and 6 of the 7 new benefits released were lifetime withdrawal benefits, researchers say.

Several companies increased withdrawal percentages, researchers say.

-ab

Originally Posted at National Underwriter on July 28, 2010 by NU ONLINE NEWS SERVICE.