With living benefit riders a hot-button issue in the annuity industry, we at Annuity Monitor have seen a variety of literature, promotions and online features added to help advisors sell living benefit guarantees to prospective clients, or to publicize new products and enhancements.

In that light, we recently took particular note of Nationwide’s Sevolution campaign, one of the more extensive living benefit promotions and, frankly, the most sensational campaign of any kind we’ve come across. The Sevolution campaign promotes the Lifetime Income rider, which had its roll-up rate increased from 5% to 7% – an enhancement heralded as a “revolution in living benefit roll-ups.” A centerpiece of the campaign is a Flash-based video displaying a hectic assortment of quick, grainy scenes and images having to do with the number seven – Seven Wonders of the World, 7th inning stretch, seven dwarves, etc. Announcer-style voiceover reiterates the “revolution” campaign theme.

Just a few weeks later, we couldn’t help notice similarities to Nationwide’s vivid bit of marketing in ING’s Flash-based video promoting the LifePay Plus. After opening by displaying “Seven” in multiple languages, the presentation heralds the GMWB’s 7% minimum annual deferral enhancement as “The Evolution of Guaranteed Lifetime Income.” Although it features a simpler color scheme and less dynamic overall effect, the video emphasizes the number seven to call attention to higher rate offerings in a similar manner to Nationwide’s campaign.

Additionally, Pacific Life’s promotion for its new Foundation10 dubs the new GMWB “The Evolution of Lifetime Income,” recalling Nationwide’s Sevolution campaign and repeating not quite word-for-word ING’s LifePay slogan. The main promotional image, which displays the firm’s iconic leaping whale, also cites the benefit’s 10% annual credit, putting Pacific Life’s twist on the common sales themes.

As the customized retirement guarantees provided by living benefits become ever more popular, and competition pushes rates to new heights, we expect to see increasing promotional materials on the part of the Annuity Monitor firms. While we appreciate the efforts to inject more creativity into annuity and living benefit marketing, we hope firms manage to find more diverse themes and buzzwords to make their campaigns stand out.