Submitted by Anonymous on
This is NY Life's longevity annuity.
The product has been breaking sales records since its release in summer of 2011.
A recent article in the Wall Street Journal said this longevity annuity had 10 times the sales expected by NY Life during the first six months after its launch.
Sales were almost a quarter of a billion dollars over the course of six months.
So much for the slow uptake in longevity annuity sales.
Maybe the results have something to do with the Treasury Department ruling on longevity annuities.
Also could be the strong NY Life captive sales force that is impacting sales traction.
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