Insurance company sales representatives are vying for banks' attention with a newfangled fixed annuity they say is the future product for bank customers.

Fixed annuities that link their investment performance to a stock index such as the Standard & Poor's 500 are the new rave among insurers. A host of companies have introduced them to banks in recent months, and others plan to roll their versions out in the fall.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.