Fixed Annuity
A fixed annuity provides a guaranteed rate of interest during the accumulation period and a guaranteed (“fixed”) amount of income when the contract is annuitized. With a fixed annuity, the insurance company is responsible for investing the premium payments and therefore assumes investment risk. The insurance company is obligated to provide guaranteed annuity payments regardless of whether their investments have generated an adequate rate of return. With a fixed annuity: 1) the money can go in as a single premium payment or a series of payments; 2) the money is invested at a fixed or guaranteed rate, and; 3) payments are at a fixed rate and can begin immediately or at some future date.
American Equity
West Coast Life
West Coast Life Insurance Company was started in 1906 in San Francisco with industry veteran Dr. George A. Moore as the president of the company. In 1997, West Coast Life Insurance Company merged with the Protective Life Insurance Company and now it operates as its subsidiary.
West Coast Life offers term life insurance, universal life insurance, survivor life insurance, and annuity products to individual customers. The description of their products is as follows:
2010 Individual Annuity Sales in U.S.
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Recent data from LIMRA that shows 2010 totals:
- Overall individual sales in United States
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Fixed Annuity Market Challenges
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