Tag: Annuity

A Blast from The Past SPIA Protection Unintentional Consequences

Several years ago, the old Presidential Life Insurance Company, Nyack New York (Presidential), issued a SPIA with very unique variability which, I helped design.  Of course, this was prior to the Athene Life and Annuity Company (Athene) purchase in 2013.  Up until the Athene purchase, tens of millions of dollars of premium were accepted by Presidential for the “Income & Legacy”, the marketing name for the SPIA.  As fate would…

SPIAs a Historical Perspective

It occurred to me after writing fixed lifetime SPIAs for more than 30 years; I achieved a 100% persistency rate (except for a few deaths) and every consumer purchase along the way has been the absolute deal of a lifetime.  I mean, how many financial products have been in a bull market for more than 30 years?  Interest rates have only trended down since the mid-to late 1980s and carriers have only…

“King William’s Tontine” by Moshe A. Milevsky A Life Insurance Industry – Shot Across the Bow!

Book Review – Moshe A. Milevsky, in a life insurance industry – shot across the bow, makes yet another ground breaking appeal since his landmark 2004 white paper on Advanced Life Delayed Annuities (ALDAs) that set the tone for the deferred income annuity (DIA) products we have today.  The book re-evaluates how we think about lifetime income and what might make sense when it comes to “sharing” longevity risk among…