Bankers Life
Short Company Name:
Bankers Life
Long Company Name:
Bankers Life and Casuality Company of New York
Company Type:
Insurance Company
Web Site:
Phone Number:
800-787-1431
Year Founded:
1879
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Glossary:
Equity Indexed Annuity
When an annuity’s capital appreciation potential is tied to the performance of an index, it is referred to as an equity indexed annuity (EIA). Equity annuities are also commonly referred to as fixed index annuities (FIA) or simply indexed annuities (IA). Generally, the annuity’s losses are limited while a portion of its gains are tied to the individual equity index’s returns. Some common indexes include the S&P, DIJA and the NASDAQ. With an equity indexed annuity: 1) the money can go in as a single premium payment or a series of payments; 2) the money is invested at a variable rate although there is a guaranteed minimum rate of return that provides a floor, and; 3) payments begin at a future date and are at a fixed rate that is based on market performance and is supported by the guaranteed minimum rate.
Are Equity Indexed Annuities Really the Top Performing Asset Class Since 1995?
A recent article in Forbes magazine discusses the pros and cons of equity indexed annuities.
On the negative side the author makes a high level reference to costs and questions whether equity...
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Thirteen Insurance Companies Exit Equity Indexed Annuity Market
There are fewer insurance companies offering equity indexed annuity products. Thirteen insurers have exited the market since the end of 2008. Included among the exits are some better known names such as Principal Financial Group, Genworth Financial, Transamerica , Monumental Life and Protective Life. Many of the companies exiting the market have equity indexed sales that are not a significant part of their overall business. Looming regulatory changes which would require that equity indexed...
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