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Annuity News
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$747 million Powerball jackpot still up for grabs

February 6, 2023 Newswires No comments.

TAMPA, Fla.— The Powerball jackpot rose once more to $747 million Saturday night after the Feb. 4 drawing still had no jackpot winner. However, while there was no jackpot winner, the Powerball website said four people in New Jersey, Florida, Pennsylvania, and Oregon won $1 million prizes from the drawing. The last Powerball jackpot was won on Nov. 19, 2022, by a…

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February 2, 2023
Study: Does pessimism really suppress annuity sales?

Study: Does pessimism really suppress annuity sales?

A recent study from the Boston College Center for Retirement Research suggests that pessimism has less of an effect on annuity sales than might be expected.

January 31, 2023
Sweet streams of income: ChatGPT, the bard of annuities.

Sweet streams of income: ChatGPT, the bard of annuities

Annuities are lovely things for retirement income, but there isn’t nearly enough poetry about them.

F&G Annuities & Life announces equity investment in life IMO SYNCIS

January 31, 2023

DES MOINES, Iowa, Jan. 31, 2023/ PRNewswire/– F&G Annuities& Life, Inc., a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today announced that a subsidiary of F&G has acquired a 49% equity ownership stake in SYNCIS, a top independent marketing organization and longtime F&G partner.

January 26, 2023
Annuity sales continue to set records
Investors are fleeing to the safety of fixed annuities.

Investors scrambling to lock in rates propel annuity sales to record highs

Annuity sales set a quarterly record for the third consecutive quarter, LIMRA reported today. Investors are flocking to the safety promised by fixed annuities.

North American and Annexus launch new fixed index annuity

January 24, 2023

–North American Company for Life and Health Insurance ®, a member company of Sammons ® Financial Group and one of the largest issuers of fixed index annuities in the U.S., 1 has once again joined forces with Annexus, a premier independent designer of FIAs. In addition to an automatic and industry-first Performance Strategy Ladder created to provide enhanced…

January 24, 2023
Life insurance and annuity applications are being delayed in processing.
Producers say more technology is needed to move life insurance and annuity applications faster.

Producers stew as insurers slow to process life and annuity applications

Frustration is mounting among producers who say insurers are slow to process their life insurance and annuity applications.

Substitute teacher wins massive lottery drawing in North Carolina. ‘Too good to be true’

January 16, 2023

A substitute teacher received a call that was“ too good to be true” when she learned she’ d won a massive prize in a second-chance drawing, according to the North Carolina Education Lottery. When she picked up the phone on Jan. 11, she learned she’ d won $1 million, the grand prize, the release says. She could receive her prize as an annuity of $50,000 over 20 years or as a lump…

Brad Rhodes: An annuity product many have never heard of

January 16, 2023

Brad Rhodes: An annuity product many have never heard of. Unfortunately, they are forced to do so because of IRS Requirement Minimum Distributions rules. The "qualified" part of the QLAC refers to the fact that this kind of annuity is purchased with "qualified" funds as defined by the IRS.

Someone in North Carolina hit a top Mega Millions prize, lottery says. Do they know it?

January 14, 2023

Someone in North Carolina scored a $1 million prize in Friday’ s Mega Millions drawing, and two other players in the state won smaller but sizable amounts, lottery officials said Saturday. The million-dollar winner bought the $2 ticket at Kwick Mart on Albemarle Road in Charlotte, according to a lottery news release. One ticket was sold at Food Lion on Capital…

Mega Millions pushes towards record prize

January 13, 2023

CLIVE— The Mega Millions jackpot is now the second largest in game history, reaching an estimated $1.35 billion annuity, $707.9 million cash option, for Friday's drawing. Iowa Lottery players won a total of 42,591 prizes in Tuesday's Mega Millions drawing, including a ticket that was just one number away from having at least a share of that night's big jackpot.

Mega Millions: Here are the winning numbers for the $1.1 billion jackpot

January 12, 2023

The Mega Millions jackpot has soared to an estimated $1.1 billion— now the third-largest jackpot in the game's history— ahead of Tuesday night's drawing. The only Mega Millions jackpots larger than Tuesday's estimated $1.1 billion are the game's record of $1.537 billion, won in South Carolina in October 2018, and $1.337 billion won in Illinois on July 29,…

Here's how big your payday would be in NC for winning the $1.1 billion Mega Millions drawing

January 11, 2023

RALEIGH, N.C.— A Mega Millions winner in North Carolina on Tuesday night could take home nearly $600 million in cash, lottery officials say. Education Lottery officials say a winner from the state could choose to collect the $1.1 billion— the third-largest jackpot in the history of the game— as an annuity or take $576.8 million in cash. One $30,000 ticket was sold in…

Mega Millions Jackpot Reaches $1.1 Billion

January 11, 2023

For the drawing on Tuesday night, the Mega Millions jackpot has a cash value of $576.8 million or an estimated annuity value of $1.1 billion, according to Pennsylvania Lottery officials. "If you're planning to play, remember that Mega Millions ticket sales in Pennsylvania end at 9:59 p.m. on drawing nights, which are held Tuesday and Friday," said Pennsylvania…

Security Benefit enhances its Strategic Growth Series of annuities

January 10, 2023

The index additions are designed to help address challenges posed by changing economic conditions.

Mega Millions jackpot rises to $1.1 billion after no winner

January 9, 2023

No one hit all six numbers and won the estimated $940 million jackpot, pushing the lottery prize to an estimated $1.1 billion ahead of the next drawing Tuesday night. The new estimated prize of $1.1 billion is for a winner who chooses an annuity paid annually over 29 years. It’ s especially nice to see the jackpot grow throughout the holidays and into the new year,” Pat…

Don't sweat it; still a chance to win $940M Mega Millions

January 6, 2023

The estimated $940 million jackpot has been growing for more than two months and now ranks as the sixth-largest in U.S history. The $940 million jackpot is for winners who choose an annuity, paid annually over 29 years. Mega Millions is played in 45 states as well as in Washington, D.C., and the U.S. Virgin Islands.

Layin' It on the Line: What is an income rider and how does it work?

January 5, 2023

An income rider is a feature that can be added to an annuity contract that provides you with the option to receive periodic payments, known as "income payments," from your annuity in addition to any principal and interest payments you may be entitled to receive. The income payments are typically based on a percentage of the value of your annuity account balance, and…

$785M Mega Millions jackpot for Tuesday night is 6th largest in US history

January 5, 2023

DES MOINES, Iowa- An estimated $785 million Mega Millions jackpot set for Tuesday night will give lottery players a chance to start the new year with a lucrative bang. The $785 million jackpot is for a winner who chooses to be paid through an annuity over 29 years. The jackpot is the largest since someone in California won a record $2.04 billion Powerball prize on…

North Carolina man wins $2 million lottery prize after buying $20 scratch-off at gas station

January 4, 2023

RALEIGH, N.C.– Carmelo Canepa, of Fuquay Varina, a $20 scratch-off and won a $2 million prize, according to an NC Education Lottery news relase. Canepa bought his Platinum ticket from the Circle K on Louisburg Road in Raleigh. When Canepa arrived at lottery headquarters Tuesday to collect his prize, he could choose to receive the prize as an annuity of $100,000 over 20…

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