NU Online News Service, June 10, 11:05 a.m. – Inviva Inc., Louisville, Ky., is introducing a new, Web-based variable annuity through its American Life Insurance Company of New York subsidiary.
Registered investment advisors can buy the new Direct Annuity contract for their clients entirely online, inviva says.
American Life will not be collecting any insurance charges. Instead, American Life will share the management fees collected by the participating funds, inviva says.