Question 1

What indices and crediting strategies does Index Analyzer compare?

Accepted Answer

Index Analyzer works with the crediting strategies that appear on a given FIA contract - the available indices, methods (annual point-to-point, multi-year, etc.), and their associated caps, participation rates, and spreads. The strategy list comes directly from the rates feed, so it reflects the options actually on the contract rather than a generic universe of indices.

Question 2

Where does the historical data come from?

Accepted Answer

Strategy data and the historical rate series are sourced from the Nest rates feed, which supplies the caps, participation rates, and spreads the analyzer backtests against. The rates feed is also the source of current renewal rates shown on the Rates terminal.

Question 3

What is the difference between a cap, a participation rate, and a spread?

Accepted Answer

A cap is the maximum credit a strategy will apply in a given period regardless of index gain. A participation rate credits a fixed percentage of the index return rather than the full gain. A spread subtracts a fixed percentage from the index return before crediting the remainder. Index Analyzer applies whichever of these the contract defines for each strategy, per period.

Question 4

Does the backtest use current rates or the rates in effect at the time?

Accepted Answer

It uses the rates in effect at the start of each crediting period. Current renewal rates are never projected backward over past periods. This is the point-in-time pricing model - each window is credited with the cap, par rate, or spread the contract actually carried at that time.

Question 5

How does the allocation comparison work?

Accepted Answer

After ranking strategies by backtested return, the analyzer builds an optimal allocation across the available options and places it next to two others: the policy's current allocation and a draft allocation you configure. All three appear side by side with per-strategy splits shown, so the recommendation carries the comparison with it.

Question 6

Can I open Index Analyzer directly from a client's in-force policy?

Accepted Answer

Yes. When a policy review flags an in-force contract, you can route straight into the analyzer with that contract's available strategies already loaded. The re-allocation decision starts from the policy on the book rather than a blank form.

#	Carrier	Product · Strategy	Index	Method	Terms	Return	Δ vs naive
TOP	Allianz LifeA+	Allianz 222S&P 500 Dual Directional	SPX	Dual directional	9.00% cap · 10.00% barrier	6.84%	-1.61%
2	Athene AnnuityA+	Ascent Pro 10BNPP Momentum 5 PTP	BNPPM5	Point to point	60% par	6.42%	-0.98%
3	F&G AnnuitiesA-	Accelerator Plus 14S&P 500 annual PTP	SPX	Point to point	10.00% cap	6.05%	-1.44%
4	Nationwide LifeA+	Peak 10S&P 500 trigger	SPX	Trigger	7.25% trigger rate	5.71%	-1.02%
5	CorebridgeA	Power Index Plus 7ML Strategic Balanced	MLSB	Point to point	2.00% spread	5.38%	-1.55%
6	Athene AnnuityA+	Ascent Pro 10S&P 500 annual PTP	SPX	Point to point	8.50% cap	5.12%	-1.28%
7	Allianz LifeA+	Allianz 222Bloomberg US Dynamic Balance	BBUSDB	Point to point	55% par	4.86%	-0.94%
8	F&G AnnuitiesA-	Accelerator Plus 14S&P 500 trigger	SPX	Trigger	6.75% trigger rate	4.61%	-1.19%

Backtest FIA strategies on the rates that were actually in effect.

Each period priced on the rates that were in effect then.

Stack-rank the crediting strategies by backtested return.

Build an optimal allocation, then compare three of them.

Routes from a flagged policy review for in-force re-allocation.

The rest of the annuity toolset.

Common questions.

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