Remaining Bullish in a Shrinking Variable Annuity Market

WEST DES MOINES, IA, Feb. 17, 2021 At a time when many insurers have written off variable annuities due to increased cost, dwindling benefits, and declining sales, Sammons Retirement Solutions®, a division of Sammons Institutional Group, Inc., remains bullish.

So much so, the company recently reconfigured their LiveWell Variable Annuity (VA) with more legacy planning choices and lower fee options than ever. LiveWell VA is issued by Midland National, a member company of Sammons Financial Group.

“It is important to us to update our variable annuity products to provide consumers with ultimate flexibility, while also keeping it easy to understand,” said Melissa Scheuerman, vice president and head of sales and business development with Sammons Institutional Group (SIG).

Over the past few years, more companies have been getting out of the variable annuity business. As investors age, it can become increasingly difficult to find an affordable solution for accumulation, tax-deferral, and legacy planning.

In response, Sammons Retirement Solutions is making available three death benefit options on its LiveWell VA.

  • For those looking for the lower fees, the Account Value Death Benefit offers a highly competitive cost structure.
  • The return of premium death benefit offers competitive fees and is issued to age 90.
  • The Enhanced Death Benefit is issued to age 80 and allows clients to lock in any investment gains annually through age 85, and step up to a higher death benefit value, resulting in a larger legacy to leave behind.

With the LiveWell VA, financial professionals and their clients can select coverage in three easy steps.

  • Choose a surrender charge period based on liquidity needs
  • A death benefit based on legacy planning needs
  • An investment option based on financial goals and risk profile

“Although more options exist than ever, choosing coverage can be simpler today than in the past. Our clients want choices, but not complexity,” said Scheuerman. “Our goal is to help clients meet their retirement needs, which often includes legacy planning. This affordable product also helps to protect the next generation despite the potential volatility of the marketplace.”

About Sammons Retirement Solutions

Sammons Retirement Solutions® (SRS), a division of Sammons Institutional Group®, Inc., administers simple, innovative, and straightforward mutual fund Individual Retirement Accounts (IRA) to help individual investors live well in retirement. Headquartered in West Des Moines, Iowa, SRS works with a nationwide network of broker/dealers and banks to provide retirement solutions that meet the needs of financial professionals and their clients.

The team at Sammons Retirement Solutions constantly reviews the market to ensure solutions meet the ever-changing challenges faced by financial professionals and investors when planning for retirement. The team gives financial professionals, and their clients, clear-cut choices for retirement planning by applying original thinking while maintaining traditional values such as trust, transparency, respect, and integrity.

About Sammons® Financial Group, Inc.

The companies of Sammons® Financial Group, Inc. help families and businesses protect their future to enjoy life’s moments today. A subsidiary of Sammons Enterprises, Inc., Sammons Financial Group is privately owned with member companies that are among the most enduring and stable in the financial services industry. Our companies include Midland National® Life Insurance Company (including Sammons® Corporate Markets); North American Company for Life and Health Insurance®; and  Sammons Institutional Group® (including Midland Retirement Distributors® and  Sammons Retirement Solutions®). Together, we offer today’s most sought-after life insurance, annuity, and retirement planning products. Sammons Financial Group: With You for Every Moment®.

Investing in variable annuities involves risk, including potential loss of investment. You should consider the investment objectives, risks, charges, and expenses of the variable annuity and its underlying investment options carefully before investing. The prospectus and/or summary prospectus contain this and other information. You may contact your financial professional, visit, or call 866-747-3421 to obtain a current prospectus for the variable annuity and its underlying investment options. Please read it carefully before investing.

Variable annuities are designed for long-term investing, such as retirement investing and are subject to market risk including loss of principal.

Securities distributed by Sammons Financial Network®, LLC., member FINRA. Insurance products are issued by Midland National® Life Insurance Company (West Des Moines, IA). Sammons Institutional Group℠, Inc. provides administrative services. Sammons Financial Network®, LLC., Midland National® Life Insurance Company, and Sammons Institutional Group℠, Inc. are wholly owned subsidiaries of Sammons® Financial Group, Inc. Sammons Retirement Solutions® and Midland Retirement Distributors® are divisions of Sammons Institutional Group℠, Inc.

The LiveWell® Suite of variable annuities (AS135A, ICC11-AS135A, AS153A, ICC18-AS153A (contract) and AR276A, ICC14-AR276A, AR346A, ICC16-AR346A, AR381A, ICC20-AR381A (riders and endorsements) are issued by Midland National® Life Insurance Company, West Des Moines, Iowa 50266. The LiveWell® Suite of variable annuities are not available in New York. Variable products are distributed by Sammons Financial Network®, LLC., member FINRA. Sammons Financial Network®, LLC. and Sammons Institutional Group®, Inc. are affiliated companies and wholly owned subsidiaries of Sammons® Financial Group, Inc. Sammons Retirement Solutions® is a division of Sammons Institutional Group®, Inc.

Product and feature availability may vary by state and broker/dealer.

The Enhanced Death Benefit feature may not be available in all states or financial institutions. The issue age is 0-80 (based on the oldest owner). The Return of Premium & Enhanced Death Benefit are available for an additional charge in addition to the ongoing fees and expenses of the variable annuity. Once elected, the benefit cannot be canceled or changed. The Enhanced Death Benefit annual step-up occurs each contract anniversary and will cease after the oldest owner’s 85th birthday or upon death of the owner, whichever occurs first. Please see the prospectus for additional information.