Life Insurance Quotes

John Hancock announces new annuity offering

09/20/11

John Hancock annuities recently announced its new Inflation Guard Annuity, designed to provide the security of a fixed rate annuity combined with the growth potential of a variable rate or index annuity.

While technically a fixed annuity, the Inflation Guard offering will provide a fluctuating interest rate based on the inflation rate, which is determined by a year-over-year evaluation of the Consumer Price Index-Urban. Interest rates are capped on a contract-by-contract basis, can never fall below zero, and are determined by the company weekly.

"We believe inflation-protected investing is a separate and distinct asset class, and have observed the need for this type of product in the marketplace," said Mike Treske, president of John Hancock Annuities Distribution. "We welcome Inflation Guard to our suite of annuity solutions, as it further solidifies our position as an industry leader for retirement solutions that focus on flexibility and client value."

Annuities are growing in popularity among seniors who are faced with the knowledge that they may outlive their savings. While pensions and social security remain the base of income for many retired persons, a recent LIMRA study showed that 35 percent of retirees in the U.S. invested in an annuity, a number that experts predict will continue to rise. 

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