May 23, 2012 --- Morningstar launched Annuity Intelligence, which evaluates variable
annuities and gives data on more than 100,000 annuity subaccounts and 1,950 annuity
The Web-based tool, which combines features of the
company’s Annuity Analyzer and its Annuity Intelligence Report, has a new user
interface with simplified navigation, enhanced search functions, and new
research features and functionality. The offering aims to be an all-in-one
source for real-time annuity data and information for advisers, broker/dealers and compliance officers. Users can search for and compare
variable annuity contracts, and generate reports.
“By combining our two most popular annuity tools,
we've made it easier for financial professionals to make apples-to-apples
comparisons between different annuity products and help find the most appropriate
annuity for each client,” said Kevin Loffredi,
vice president of insurance solutions for Morningstar.
The tool’s lifetime income calculator allows an adviser
to see the amount of guaranteed income an annuity benefit will provide using
different criteria. Complex provisions in annuity riders, annuity fee data,
contract titling information and historical contract data dating back to the
1960s are written in plain English. The calculator helps compliance officers support their
suitability and review process for an annuity purchase, and it enables suitability
forms to be automatically populated with contract, benefit, and fee information
to streamline the transaction process.
Two add-on capabilities are available for Annuity
Intelligence: VA Expense Analyzer and VA Hypothetical Illustrator, which are
designed to help provide transparency to advisers and their investor clients.
VA Expense Analyzer helps streamline the compliance and sales disclosure
process by conducting suitability and cost analyses to help make sure a recommended
annuity is appropriate. VA Hypothetical Illustrator helps support client
proposals by analyzing variable annuity performance as a standalone
investment, in comparison with competing products or benchmarks or within the
context of a complete portfolio.
clients of Morningstar Annuity Analyzer and Annuity Intelligence Report will be
migrated to the Morningstar Annuity Intelligence solution over the next 12 to 18