Jefferson National Life Insurance Co. of Dallas has added a free service called Monument Advisor Xpress to help fee-based and fee-only advisers compare high-cost variable annuities.
The service features three proprietary tools: an annuity comparison calculator, a client proposal generator, and electronic application for variable annuities.
According to data from Morningstar, consumers with variable annuities are paying at least $15 billion a year in insurance fees.
Jefferson National's new platform also includes an Advisor Dashboard to view, edit, update, and send proposals, e-mails, and alerts and has online demos and educational materials.
Jefferson National, which announced the platform Thursday, serves more than 60,000 customers nationwide.
