Will insurers ape Aviva and peel back benefits on fixed annuities?

November 21, 2010 by Darla Mercado

On Monday, Aviva USA will roll out a series of new changes to its fixed-annuity lineup, including reductions on agents’ commissions and the discontinuation of one of its income riders. And the move could have a ripple effect on other carriers, industry watchers noted.

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Aviva’s decision to rein in features follows what has been a hot quarter for fixed indexed annuities. Third-quarter sales for such annuities hit a record high of $8.7 billion, up 16% from the year-earlier period, according to data from AnnuitySpecs.

Originally Posted at Investment News on November 19, 2010 by Darla Mercado.