We provide a patent pending service that can evaluate either a new purchase or a replacement purchase of a variable annuity (VA) in the U.S. market. Similar to other CANNEX services, the formulae, rates and parameters specific to each contract are programmed and maintained within the service in partnership with the carrier.
Product Selection & Analysis
Users can rank and compare the potential performance of multiple products in a transparent, apples-to-apples environment across a number of components including:
- Income Benefit
- Death Benefit
- Account Value
- Fees Paid
Analysis is also available for each product including:
- Present Value Analysis
- Hypothetical Illustrations
- Product Parameters specific to the case
- Additional product & marketing material from the carrier
This service can be accessed either directly through the CANNEX service portal or through other third party tools that support planning, sales or compliance processes. In other words, the results can be deployed within any format or service the advisor or firm chooses to use.
Fixed Rate Guarantees
Insurance carriers will manage their fixed rates offered within deferred annuity contracts on the CANNEX exchange. These rates are guaranteed by the carrier and are updated on a real time basis. Where appropriate, they are also applied to the analytical processes to help ensure that results are up to date.
For Variable Annuities, this includes:
- Fixed Term Rates
- Dollar Cost Averaging (DCA) Rates
Rates and information can be accessed directly through the CANNEX Customer Portal or fed into a proprietary or third party process or application.