Submitted by Anonymous on
Exciting and interesting to see some of the larger, more stable companies in the market release longevity insurance products.
Northwestern Mutual just came to market with its Select Portfolio Deferred Income Annuity.
The market still seems small but companies such as Northwestern Mutual and New York Life seem to be dedicated to the market on a longer-term basis despite all the challenges in the fixed annuity market due to low interest rates.
It also helps to be a mutual insurer in this space. It allows the NW Mutuals and NY Lifes of the world to "play the long game" in a way that their publicly-owned competitors cannot.
Also super helpful to have the super strong financial ratings to back the long-term promises associated with longevity insurance. NW Mutual and NY Life are the types of companies that can credibly back multi-decade financial promises.
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