Press Release
  •  7/15/2021

SIMON Says Hello to Variable Annuities, Expanding the Insurtech’s Marketplace Lineup to Deliver Holistic Retirement Solutions to Wealth Management Professionals

SIMON now offers variable annuities, one of the most flexible and widely used annuity types, in its Marketplace, delivering powerful analytics for asset allocation and income solutions

SIMON Annuities and Insurance Services LLC (SIMON) is pleased to announce the expansion of its annuities platform and digital marketplace for wealth managers with the launch of the LiveWell® Variable Annuity, issued by Midland National® Life Insurance Company and administered by Sammons Retirement Solutions®, a division of Sammons Institutional® Group (Sammons)—as first to market. Additional carriers will join SIMON’s variable annuities Marketplace in the coming months.

Variable annuities (VAs) can help accumulate assets for retirement with tax deferred growth, offering flexible, tax-free reallocations, and optional death benefits for heirs. Often employed as a part of a long-term retirement planning strategy for tax-efficient growth, VAs are now available in SIMON’s Marketplace alongside fixed indexed annuities, fixed annuities, and structured annuities.

With SIMON’s platform for annuities, financial professionals gain centralized access to the tools and resources they need to analyze Marketplace products based on their clients’ unique risk profiles and investment horizons, including the ability to:

  • Explore various rider illustrations
  • Leverage powerful allocation analytics
  • View fund options and their performance statistics
  • Dive deep into historical performance of allocations and funds

From education to analytics, SIMON’s differentiated technology highlights product features in an interactive way, showcasing the retirement-planning capabilities of each product available in its annuities Marketplace with a focus on making contract features easier to understand.

Sammons’ LiveWell® Variable Annuity is the first product of this type to launch on SIMON, delivering more than 125 convenient investing options from 25+ of the country’s most popular money managers, legacy planning benefit options, and competitive flexibility to meet individual retirement planning needs.

Melissa Scheuerman, VP of Business and Sales Development at Sammons, commented: “Everyone seeks custom solutions today—from news feeds on our cell phones to grocery delivery services, and retirement planning is no different. Products need to offer flexibility, and professionals need intuitive tools at their fingertips to analyze and manage products that offer that flexibility. Our partnership with SIMON illustrates a commitment to offering scalable annuity solutions to professionals serving a growing population of retirees.”

Scott Beshany, Chief Distribution Officer at SIMON, added: “With game-changing analytics for this product class, variable annuities are a natural new addition to SIMON’s product lineup. Our Marketplace is now able to deliver a more holistic product experience, and we look forward to driving a better, more powerful VA product experience for financial professionals. Sammons has been an incredible partner to SIMON and we’re excited to launch their solutions as the first in our variable annuities Marketplace.”

Financial professionals can now seamlessly find and explore Sammons’ LiveWell Variable Annuity solutions, access product-specific marketing literature, and run powerful allocation and income analytics within the product—all directly within SIMON’s interactive platform.

About SIMON

An award-winning fintech company, SIMON is committed to transforming the digital experience for financial professionals, enabling them to better serve their clients. SIMON’s intelligent and innovative platform delivers an end-to-end digital suite of tools to more than 85,000 financial professionals, who serve more than $3 trillion in assets, empowering them with on-demand education, an intuitive marketplace, real-time analytics, and lifecycle management. With a focus on reshaping the advisor experience, SIMON is setting new industry standards, simplifying the complex, and delivering structured investment and insurance solutions, as well as defined outcome ETFs, to investment professionals, centralized within one unique ecosystem.

For more information about SIMON, visit www.simon.io and follow the company on Instagram, LinkedIn, and Twitter. Securities products and services offered by SIMON Markets LLC, a broker-dealer registered with the SEC, Member FINRA / SIPC. Annuities and insurance services provided by SIMON Annuities and Insurance Services LLC.

About Sammons Retirement Solutions

Sammons Retirement Solutions® (SRS) is a division of Sammons Institutional Group®, administrator of simple, innovative, and straightforward mutual fund Individual Retirement Accounts (IRA) and annuities to help individual investors live well in retirement. Headquartered in West Des Moines, Iowa, Sammons works with a nationwide network of broker/dealers and banks to provide retirement solutions that meet the needs of financial professionals and their clients.

The team at Sammons constantly reviews the market to ensure solutions meet the ever-changing challenges faced by financial professionals and investors when planning for retirement. Sammons gives financial professionals, and their clients, clear-cut choices for retirement planning by applying original thinking while maintaining traditional values such as trust, transparency, respect, and integrity.

The LiveWell® suite of variable annuities is issued by Midland National® Life Insurance Company, West Des Moines, Iowa 50266 and distributed by Sammons Financial Network®, LLC., member FINRA. Sammons Institutional Group®, Inc. provides administrative services. Sammons Financial Network®, LLC., Midland National® Life Insurance Company, and Sammons Institutional Group®, Inc. are wholly owned subsidiaries of Sammons® Financial Group, Inc. Sammons Retirement Solutions® is a division of Sammons Institutional Group®, Inc.

Read the release on businesswire.com.

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