As the trade groups that represent the interests of fixed indexed annuity providers challenge the Department of Labor's fiduciary rule in three federal courts, at least one insurance company is adjusting its fixed indexed annuity product lineup.
New York City-based Voya Financial Inc. has rolled out the Voya Quest series of fixed indexed annuities, which includes three new products that feature lower surrender fees than previous products and the option to choose from a five-, seven- or 10-year contract surrender schedule.
Like previous fixed indexed annuity product offerings, the new series of annuities is indexed to the Standard and Poor's 500 and guarantees principal protection. A Guaranteed Living Withdrawal Benefit rider can be purchased at an additional cost for investors seeking a lifetime stream of income.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
