Principal’s Retirement Market Strategy Takes Shape Amid Growing RILA Sales
August 7, 2024 by Warren S. Hersch
Industry watchers note that Principal’s product designs differentiate the carrier’s offerings and open new opportunities in the crowded market.
Peter Lamond, VA product director for Wink Inc.
“With the introduction of their new Secure Income Rider, Principal is giving themselves the opportunity to compete for clients in both the investment only and retirement income rider space,” said Peter Lamond, VA product director for Wink Inc.
“While Principal’s structured annuity sales have been increasing, we will have to wait and see if this buoys their overall variable annuity sales,” Lamond noted. “They do have a slightly different spin on their dual direction strategy, which uses the mid-point of the buffer to determine the return on negative performance on the Principal Strategic Outcomes Annuity.”
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