The popularity of living benefit features is one thing that seems clear when looking at variable annuity sales data. The vast majority of variable annuity sales include one of several living benefit or guaranteed living benefit features.
National Underwriter reports that Bellevue, Washington-based Symetra will be selling a line of low cost variable annuities that do not contain any living benefit features.
Apparently Symetra considers the GLB-free variable annuity as an underserved niche.
The company also seems to be taking a wait-and-see approach with respect to industry-wide pricing trends for GLB features.
Since Symetra is a public company, it will be interesting to follow the progress of their GLB-free VA offering.
Source: National Underwriter
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