Annuity and Life Insurance Product Update Second Quarter 2019 Colleen McGarry

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

Introduction

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 2019 and highlight their key features

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

Annuities: Product Releases

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

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

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

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

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

Life Insurance: Product Releases

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

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

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

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

About

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

Contact Us Colleen McGarry Analyst (646) 751-6961 cmcgarry@corporateinsight.com