1. Annuity and Life Insurance Product Update
Second Quarter 2019
Colleen McGarry

2. Table of Contents Introduction Annuities: Product Releases
Allianz Legacy by Design
Athene Velocity Fixed Index Annuity
Fidelity New York Life Premier Variable Annuity-P Series with Investment Preservation Rider-P Series
Nationwide Peak 5 Fixed Indexed Annuity
Pacific Life Core Income Advantage Select Rider
Life Insurance: Product Releases
Lincoln VUL ONE 2019
Nationwide CareMatters II Living Benefit Rider
Prudential Survivorship BenefitAccess Rider
Prudential Waiver of Monthly Deductions Rider
About

3. Introduction

4. Background
This slide deck examines new product releases from annuity carriers and life insurers covered in Corporate Insight’s Annuity Monitor and Life Insurance Monitor research services
We provide a rundown of new products introduced on coverage group firms’ websites in the second quarter of and highlight their key features

5. Life Insurance Monitor
Firms Covered
Below is a list of the firms we track for our Annuity Monitor and Life Insurance Monitor research services:
Annuity Monitor
Life Insurance Monitor
Allianz Life
Athene
AXA
Brighthouse Financial
Fidelity
Guardian
Jackson
Lincoln Financial Group
MassMutual
Nationwide
New York Life
Pacific Life
Principal
Prudential
TIAA
Transamerica
USAA
Vanguard
Haven Life
John Hancock
Northwestern Mutual
State Farm

6. Annuities: Product Releases

7. Allianz Legacy by Design
The firm offers a pair of fixed index annuities designed to work together
Legacy Planner and Legacy Plus
Account owners fund the Legacy Planner with qualified assets and take RMDs when required
Leftover funds and taxes fund the Legacy Plus
Legacy Plus offers a 25% Death Benefit Bonus

8. Athene Velocity
The firm announced the new fixed index annuity in April
Velocity offers a built-in income rider at no additional charge
Athene created the product in partnership with Annexus

9. Fidelity Premier Variable Annuity-P Series
In May, Fidelity launched its New York Life Premier Variable Annuity-P Series with Investment Preservation Rider-P Series
The product requires a $25,000 minimum investment but guarantees the return of the initial investment at the end of the 10- year holding period
It also allows reset of guaranteed amount on every contract anniversary through age 75

10. Nationwide Peak 5 Fixed Indexed Annuity
The firm announced the new variation of the Nationwide Peak product in June, promoting it as an alternative to low-yielding fixed products for risk-averse clients
The annuity adds an index option to the existing iteration: Morgan Stanley 3D Index
It requires a $25,000 minimum initial purchase amount and provides a Joint Option feature at no additional cost

11. Pacific Life Core Income Advantage Select
The new optional benefit rider launched in May
It is available with variable annuities and targets retirement-age clients
The product offers guaranteed withdrawals of 5.75% of the initial purchase
Withdrawal amount increases as the contract value increases

12. Life Insurance: Product Releases

13. Lincoln VUL ONE 2019
Lincoln announced the updated VUL ONE product in June
The firm promotes it as a source of wealth accumulation
The product does not offer the Lincoln Care Coverage Accelerated Benefits rider, featured on the existing iteration
It allows owners to stop paying premiums early, extend the guarantee duration and/or access the excess policy cash value if it reaches a predetermined threshold

14. Nationwide CareMatters II Living Benefit
The new iteration of the Nationwide CareMatters living benefit launched in May
It offers cash indemnity benefits to help policy holders pay for care
The product provides new options to pay over a lifetime or to age 65 and existing options to pay all at once or over five to 10 years
It features an Inflation Protection Rider for an additional cost and has a two-year acceleration period with a choice of total benefit features from two to seven years

15. Prudential Survivorship BenefitAccess
The firm promoted the living benefit rider in June
It makes the existing BenefitAccess chronic illness rider available on survivorship policies
Prudential promotes the product as a way to prepare for the financial impact of chronic or terminal illness

16. Prudential Waiver of Monthly Deductions
Prudential promoted the living benefit rider in June
It waives fees for account owners who become totally disabled for at least six continuous months
The rider is available with the PruLife Essential and PruLife Founders Plus ULs

17. About

18. Annuity and Life Insurance Monitors
Annuity Monitor (AM) and Life Insurance Monitor (LIM) focus on the online user experiences that leading firms provide prospects, clients and advisors
Using actual accounts, AM and LIM give firsthand looks at current online capabilities, including client account information, transactions, tools, customer service and educational resources
AM and LIM follow the products and services offered by competitors across the industries, providing up-close views of how firms attract new clients

19. Contact Us Colleen McGarry Analyst (646) 751-6961