The third quarter saw the continued enhancement of features available on variable annuities (VAs), according to a report by Ernst & Young. The Hartford and RiverSource both issued new VAs during the third quarter and Met Life, RiverSource and Transamerica introduced new living benefits on existing products.
Meanwhile, other companies—including Axa, Integrity, John Hancock, Nationwide, Pacific Life, Penn Mutual and Sun Life—filed VA prospectuses, indicated that there’s more to come.
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