Updated: Nov 19, 2020
For today's article, I want to talk about something that I'm seeing as an ongoing trend. Large insurance companies that were offering variable annuity contracts with lifetime income benefits... are leaving the marketplace.
The biggest of these was The Hartford back in 2010 or so. They were the proverbial "800lbs gorilla" in the industry.
Ohio National (my preferred whole life insurance company) stopped selling lifetime income benefit riders on their annuities and was looking to offer to "bail out" policyholders in order to cut potential losses.
Yesterday, Prudential stopped offeri