Morningstar announced Monday it has launched Morningstar Annuity Intelligence, a web-based product for evaluating variable annuities. Designed for financial professionals, including broker/dealers, financial advisors, compliance officers and insurance carrier representatives, the database provides real-time data on more than 100,000 annuity subaccounts and 1,950 annuity contracts, according to the Chicago-based company.
The new offering combines Morningstar Annuity Analyzer and the Annuity Intelligence Report to create "an all-in-one source for annuity data and information," according to a company statement. Users now have the capability to search for variable annuity contracts, compare them side-by-side, and then generate "client-friendly, FINRA-reviewed presentations and reports."
"When it comes to purchasing an annuity, every investor has specific, personalized needs, but it can be difficult to compare annuities in a meaningful way," Kevin Loffredi, vice president of insurance solutions for Morningstar, said in a statement. "By combining our two most popular annuity tools into one solution, 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."
