Annuities Heading into a Blended Future
June 6, 2017 by Cyril Tuohy
Independent agents, the traditional lifeblood of FIA sales, can expect to see a reshaping of annuity product lines as insurers revamp features and revenue models to meet the needs of distribution channels evolving under tighter regulation and market conditions.
The Department of Labor’s Fiduciary rule has been delayed until June 9, and many observers are conceding that the rule is likely to go forward in some form.
No one doubts, however, that the rule is already serving as a catalyst for important changes at manufacturers and distributors.
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“You’ll see more trail options and it will be a time of disruption for the agent because the typical independent agent likes to sell three different annuities (with few exceptions) out of more than 1,000 annuities available today,” said Sheryl J. Moore, president and CEO or Moore Market Intelligence and Wink, publisher of the life and annuity industry data tracker Wink’s Sales & Market Report.
