Here Are Advisors’ Favorite Annuity Providers

Publish Date:

Wednesday, February 27, 2019 12:18 pm EST

News Organization:

Think Advisor

Source URL:

Here Are Advisors’ Favorite Annuity Providers
Advisors looking at annuities are influenced by different factors when considering different product types, Cogent reports.

By: Michael S. Fischer

Annuity providers pitching their wares to financial advisors should customize their sales and marketing messages in a way that aligns with the specific benefits of different product types clients are looking for, according to a new report from Annuity Brandscape, a Cogent Reports study released Wednesday by Market Strategies International-Morpace.

“Firms looking to bolster advisor interest should work to target the right benefits to the right people at the right time,” Meredith Lloyd Rice, vice president at Market Strategies-Morpace and the report’s author, said in a statement. “Building strong advisor engagement, through wholesaler and digital interactions, is critical to developing this understanding.”

The study was based on an online survey Cogent conducted online in October and November, involving 712 advisors.

Seventy-six percent of advisors in the study said the ability to generate guaranteed income in retirement was their chief reason for selling annuities to their clients.

However, advisors were influenced by different factors when considering different product types.

Advisors said offering clients the best retirement income products was the most important consideration driver for variable annuities, while guaranteed rates and product simplicity were the key areas to convey for fixed and indexed annuities.

According to the study, advisors who want to invest client assets in annuities ranked Jackson National, Lincoln Financial and Pacific Life among the top five providers across variable, indexed and fixed annuities.

Following are the top five annuity providers in consideration by product type:

Variable Annuity

1. Jackson National

2. Lincoln Financial Group

3. Prudential Financial

4. Nationwide Financial

5. Pacific Life

Fixed Annuity

1. Lincoln Financial Group

2. Pacific Life

3. Brighthouse Financial

4. Jackson National

5. Nationwide Financial

Indexed Annuity

1. Lincoln Financial Group

2. Allianz Life

3. Pacific Life

4. Jackson National

5. AIG
 

Republished with the permission of ALM Media. Originally published on 2/27/19. The views expressed in the enclosed article are those of the author only and not necessarily those of any Lincoln Financial Group® affiliate.

Neither the information, nor any opinion expressed herein, shall be construed as a recommendation to buy, or as an offer to sell, any security or insurance product. Certain products may include market risk including possible loss of principal. Lincoln Financial Group is the marketing name of Lincoln National Corporation and its affiliates including The Lincoln National Life Insurance Company, Fort Wayne, IN, Lincoln Life & Annuity Company of New York, Syracuse, NY, and broker-dealer Lincoln Financial Distributors, Inc., Radnor, PA.

Variable annuities are long-term investment products designed for retirement purposes and are subject to market fluctuation, investment risk, and possible loss of principal. Variable annuities contain both investment and insurance components and have fees and charges, including mortality and expense, administrative, and advisory fees. Optional features are available for an additional charge.

Variable products are sold by prospectuses, which contain the investment objectives, risks, and charges and expenses of the variable product and its underlying investment options. Read carefully before investing.

Lincoln annuities are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, and contracts sold in New York are issued by Lincoln Life & Annuity Company of New York, Syracuse, NY; distributed by Lincoln Financial Distributors, Inc., a broker-dealer. The Lincoln National Life Insurance Company does not solicit business in the state of New York, nor is it authorized to do so.

There is no additional tax-deferral benefit for an annuity contract purchased in an IRA or other tax-qualified plan.

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

VA-THINK-ARC001_Z01

LCN-2444161-030119