September 2015: How Firms Market Fixed Index Annuities

The report focuses on how effectively Annuity Monitor firms position their fixed index annuity offerings on the public site. The following criteria are examined:

  • Product content location
  • Depth of product information
  • Relevant product resources

Of the seven Annuity Monitor firms covered in this report, three adequately position their index annuity products on the public site, with thorough explanations of how their products function. All three firms provide a compact fixed index annuity section, offering an overview page with a product listing, dedicated pages for each product and complementary resources. The four remaining firms also provide a decent amount of product information on the public sites, though they could benefit from expanding on their product resources.

Ideally, all firms should provide detailed product pages for each fixed index annuity offering, where they can explain the product’s features, benefits and fees. Six firms provide product pages, though only four of them offer comprehensive product information. One firm, for example, offers surrender charges and premium enhancement recapture schedules on its product page. Firms also delve into product information on literature pieces and videos. Five firms, for example, offer product-specific brochures that help decipher information through hypothetical examples, charts and graphs, while four firms use animated videos to explain the product.

It is essential for firms to provide sufficient product details on dedicated pages and on complementary resources in order to better inform prospects on the product’s features and benefits.

Additional key findings include:

  • Four firms highlight surrender charges on the product pages
  • One firm offers a product comparison chart
  • Five firms provide resources to contact a financial advisor