New York Life plans to jump into variable-annuity market

08/17/2009 | InvestmentNews (free registration)

New York Life Insurance is developing new variable-annuity products that emphasize "simplification, low cost and transparency." Chris Blunt, executive vice president of the insurer's retirement-income-security division, would not offer specifics about the products in an interview. "We were never a big variable-annuity market player, but we're going to jump back in a big way," he said.

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