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Another feature that is finding it ’ s way onto more products is the bonus . It doesn ’ t matter if the bonus is an interest bonus , an account value bonus , an annuitization bonus , or a bonus on the benefit base value of a GLWB . Bonuses are here to stay , as long as interest rates remain challenging .
The last trend that we are seeing in annuity product development is products that are fee-based , and do not pay a commission to the salesperson . While sales of these products are still minimal , the development of these products has increased .
If there is one thing that you can count on , it is that the low interest rate environment continues to press insurance companies to put their thinking caps on , when it comes to product development . Complexity will continue to reign , if the market environment doesn ’ t improve . Yet it is an interesting time to look at innovation and trends in the guaranteed income space .
Sheryl Moore is President and CEO of the life and annuity market research firm - Wink , Inc . Her company provides competitive intelligence , market research , product development , consulting services and insight to select financial services companies . Email : sjm @ intelrockstar . com .
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