In the wake of the volatility in the market and other effects of the global pandemic, annuity suppliers are struggling to update their annuities – meaning make them more favorable because annuity purchasers received too good a deal the first time around. The market volatility and low treasury rate necessitate annuity repricing. In the current environment, changes are happening so fast that many insurance carriers have had to suspend the sale of annuities in order to give them enough time to make changes to the annuity policies.
