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Variable Annuity Benchmarking


ANNUITYScores brings together the leading benchmarking and comparison resources to evaluate your variable annuity.

This tool is powered by Meridien Benefits, Inc. and is now available exclusively for our clients.

ANNUITYScores was designed to provide variable annuity owners an evaluation tool. An annuity is a contract between you and an insurance company in which the company promises to make periodic payments to you, starting immediately or at some future time. You may purchase an annuity with a single payment or a series of payments called premiums.
What is a Variable Annuity?
A variable annuity’s rate of return changes with the stock, bond, money market funds or other accounts that you choose as an investment. You invest in a “separate account” that resemble mutual funds, but are different products.
ANNUITYScores evaluates your variable annuity by examining and benchmarking six key components.
ANNUITYScores

Evaluates six important annuity components:

  1. Features & Insurance Company
  2. Annuity Expenses and Fees
  3. Surrender Charges & Withdrawals
  4. Investment Sub-Accounts
  5. Death & Living Benefit Options
  6. Additional Features


Annuity Expenses and Fees

The technology options utilized as part of your plan(s) are a crucial component of any benefits strategy. Not only does it allow you, the plan sponsor, to access data that will guide you and provide support in your design decisions, it also supports compliance. Technology enables your executives and employees to access to all benefits related information 24/7 including enrollment communications, benefit statements, and information to aid in their benefit selection decision-making process.
BANKScores assists to evaluate and determine appropriate communication access systems so your executives and employees can appreciate the overall value of the benefits provided to them.


Investment Subaccounts

benefit programs and design. The strength of the carrier assures that benefits are available when needed. The performance of all product and service providers must be evaluated on a periodic basis along with associated fees and expenses.


Features and Insurance Company

Proper plan design is essential to give your company an advantage in attracting and retaining top talent. Once designed it is equally important that employees fully understand the benefits offered and options available to them. Innovative technology and portals now exist that can deliver content and help employees with benefit selection and compliance.


Surrender Charges and Withdraws

It’s important to assess and evaluate all plan expenses and fees for competitiveness and cost effectiveness. This requires regular and ongoing monitoring and benchmarking.

 


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