With FIA Caps, Higher is Better
April 26, 2018 by Kerry Pechter
After the financial crisis, the fixed indexed annuity (FIA) emerged from its original habitat in the independent insurance agent channel to compete against certificates of deposit in the bank channel and (when combined with an income rider) with variable annuities-with-living-benefits in the broker-dealer channel.
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Article excerpt:
The CANNEX study was criticized by Sheryl Moore, CEO of WINK, which tracks sales and other data on indexed annuities. “As the recognized expert in the indexed annuity space, I put no salt in the findings in the CANNEX ‘research,’” she told RIJ in an email.
“This information is not consistent with my nearly 20 years of product administration, illustration development, and product development experience,” she wrote. “CANNEX is comparing apples-to-oranges here. Indexed annuities shouldn’t be compared to MYGAs; they are comparable to fixed annuities with a one-year rate guarantee.”
