8 notable trends in the VA business
7. Cash money paid
Buyouts of legacy variable annuities, another method for insurers to get out from under their liabilities, will be closely watched this year. Settlement offers from Transamerica, AXA and The Hartford are giving clients a boost in account value if they agree to walk away from their guaranteed benefits. Hartford’s offer is the most recent as the firm filed with the SEC a detailed document explaining the deal on Dec. 28. Advisers are skeptical of the offers, but time will tell whether customers take up the insurers on the opportunity.
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