The outbreak of the Covid-19 virus has engulfed financial markets worldwide and created a unique and unprecedented environment for advisers and investors alike. SRP caught up with Todd Giesing (pictured), director of annuity research at the Secure Retirement Institute, Limra, to discuss the impact that the pandemic is having on the fixed index annuities (FIA) market.
“In the midst of high market volatility, interest rates have gone to levels that nobody could ever imagine in this environment, which is definitely going to put a strain on any type of FIA product,” said Giesing. Though a decline in business is expected, the knee-jerk reaction that is currently taking place originates from carriers. With rates being lowered within product lines, some carriers are suspending certain product lines themselves. People are going to be looking at this t
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