Insurers developing fee-based fixed-indexed annuities post-DOL fiduciary rule
July 14, 2016 by Greg Iacurci
Insurance companies are going full steam ahead developing fee-based fixed-indexed annuities due to greater anticipated demand from distributors for advisory products as a result of the Labor Department’s fiduciary rule.
This sort of fee-based product development is new among fixed-indexed annuity product manufacturers. Midland National Life Insurance Co., a unit of Sammons Financial Group, is the only other insurer to date to have launched a fee-based, fixed-indexed annuity, according to Sheryl Moore, president and chief executive of Moore Market Intelligence.