ING to shutter registered indexed annuity
{October 29th, 2011} by Darla Mercado
Insurer in talks with wirehouses about switching to unregistered version By Darla Mercado October 28, 2011 ING Groep NV will close its registered indexed annuity to new sales Oct. 31 after a little more than a year. Low interest rates were a major driver in ING’s decision to shutter the annuity, according to Chad Tope, […]
Guaranteed Income: A Silver Bullet for Annuities
{October 27th, 2011} by Daniel Williams
October 24, 2011 By Daniel Williams In many ways, annuities are under siege. If those who sell annuities or who market or produce them aren’t under fire by regulators, pushing for securitization of the product, then we see another battle brewing: the field getting even more competitive as banks and broker-dealers, among others, join the […]
New Fixed Annuity From Security Benefit Life Insurance Company Brings Flexibility to 403(b) Marketplace
{October 27th, 2011} by N/A
press release Oct. 26, 2011, 11:03 a.m. EDT “Total Interest Annuity” Features Ability to Accept Continuing Contributions TOPEKA, KS, Oct 26, 2011 (MARKETWIRE via COMTEX) — Security Benefit Corporation, a Guggenheim Partners Company, today announced the launch of the Total Interest Annuity issued by its subsidiary Security Benefit Life Insurance Company (SBL), SBL’s first fixed […]
Andrew Stolfi Named Acting Director of Illinois Insurance Department
{October 27th, 2011} by Jeff Jeffrey
Best’s News Service – 10/26/2011 12:20 pm SPRINGFIELD, Ill. – Illinois Gov. Pat Quinn has named Andrew Stolfi as acting director of the Illinois Department of Insurance, filling the vacancy created when former director Michael McRaith stepped down to become the first director of the Federal Insurance Office. Prior to Quinn’s appointment, Stolfi spent two […]
DTCC Releases September Reports On Market Activity For Annuity Products
{October 27th, 2011} by N/A
Copyright: Copyright Business Wire 2011 Source: Business Wire, Inc. Wordcount: 744 NEW YORK–(BUSINESS WIRE)–The Depository Trust & Clearing Corporation (DTCC) Insurance& Retirement Services (I&RS) released today September reports on activity in the market for annuity products from its Analytic Reporting for Annuities online information service, which is based on the transactions that DTCC processes for […]
Indexed life insurance gets sexy
{October 25th, 2011} by Sheryl J. Moore
Added: October 24, 2011 The latest trend in the indexed life market is a new type of crediting strategy, commonly referred to as a “multiple index” crediting method, and it is turning heads. Now there are three words you don’t see in the same sentence every day: “life insurance” and “sexy.” Yet, there they are […]
The ABCs of Annuities
{October 25th, 2011} by Allianz Life
Please click here for a video from Allianz on the ABCs of Annuities.
New Allianz Life Animated Video Series Demystifies Today’s Annuities
{October 25th, 2011} by N/A
The “ABCs of Annuities” Dispels Misperceptions and Educates Consumers MINNEAPOLIS, Oct 24, 2011 (BUSINESS WIRE) — Allianz Life Insurance Company of North America (Allianz Life) today launched The ABCs of Annuities, a new animated three-video series that demystifies today’s annuities. Each three- to five-minute segment explores a separate topic: Retirement Realities, Annuity Basics, and Annuity […]
Americans' Trust In Retirement Drops 20%
{October 24th, 2011} by N/A
Copyright: Copyright Business Wire 2011 Source: Business Wire, Inc. Wordcount: 833 Retirement confidence drops nearly 20% in 2011, hitting four-year low One in five working Americans plan to never retire Owners of annuities, long-term care insurance feel more confident WELLESLEY, Mass.–(BUSINESS WIRE)–American workers’ trust in their future retirement has reached a four-year low, according to […]
Allianz Life Hires Jeff Palm as New Chief Information Officer
{October 24th, 2011} by N/A
Copyright: Copyright Business Wire 2011 Source: Business Wire, Inc. Wordcount: 286 MINNEAPOLIS–(BUSINESS WIRE)– Allianz Life Insurance Company of North America (Allianz Life), today named Jeff Palm as the new senior vice president and chief information officer. In his new role, Palm will be responsible for leading the Allianz Life IT organization and will report to […]
Founder of American Financial Lindner Dies
{October 24th, 2011} by Sean Carr
Copyright: (c) 2011 A.M. Best Company, Inc. Source: A.M. Best Company, Inc. Wordcount: 416 Carl H. Lindner Jr., the founder and chairman of American Financial Group, died Oct. 17. He was 92. Lindner, who had remained at the helm of the insurer until his death, founded the company in 1959. His diverse business interests also […]
Mark A. Farr, CLU, ChFC, FLMI Joins The Ohlson Group
{October 24th, 2011} by Terri Gearlds
Carmel, IN – October 3, 2011- Raymond J. Ohlson, CLU, CRC, President and CEO of The Ohlson Group, announces that Mark A. Farr, CLU, ChFC, FLMI, has joined the company in the newly created position as Financial Services Consultant to the property and casualty industry in Indiana. Farr will be working with Gary Ryan, J.D, […]
What If Interest Rates Keep Falling?
{October 24th, 2011} by Linda Koco
What If Interest Rates Keep Falling? By Linda Koco InsuranceNewsNet NEW YORK CITY –A falling interest rate environment will spur some customers to look for opportunities for upside potential, and that can affect the products and strategies that agents and companies take, according to Timothy C. Pfeifer, president of Pfeifer Advisory. The Libertyville, Ill., product […]
Annuity, Insurance and LTC Owners Express Greater Retirement Confidence
{October 24th, 2011} by Warren S. Hersch
October 19, 2011 By Warren S. Hersch Owners of variable annuities, life insurance with a long term care benefit, or long term care insurance feel 20% more confident about retirement than do others, according to a new survey. Sun Life Financial Inc., Wellesley, Mass., reached this conclusion in the fall 2011 release of its U.S. […]
ACLI Elects New York Life's CEO Mathas as its Chairman
{October 24th, 2011} by Elizabeth Festa
October 18, 2011 By Elizabeth Festa The American Council of Life Insurers elected Theodore “Ted” Mathas, Chairman, President and CEO of New York Life Insurance Co. as its 2012 chairman at its annual conference this week in Orlando. The ACLI also elected James T. Morris, Chairman, CEO of Pacific Life Insurance Co. to its chairman-elect […]
Half of Millennial Generation Doubts Social Security Will Exist for Them
{October 24th, 2011} by Staff Writer
October 19, 2011 By Staff Writer “Measure of Millennials,” a new study released by the iOMe Challenge organization, shows that 50% of Millennials do not believe that Social Security will exist when they reach their retirement years. The study of a representative sample of 642 18-29 year-olds across the U.S. was conducted in August by […]
Safety First
{October 24th, 2011} by Van Mueller
October 17, 2011 By Van Mueller Historically, September is the most dangerous month of the year for stocks. October is the second most dangerous month. This is compounded by the fact that the global economy is facing one of the most perilous times in history. Knowing this information, what should our clients’ strategy be? Safe. […]
Broker-Dealers to Jump on Annuity Bandwagon
{October 24th, 2011} by Daniel Williams
October 17, 2011 By Daniel Williams Almost every economic indicator out there points to doom and gloom. Not to mention, we have the Occupy Wall Street folks swelling in number and in geography. But somebody forgot to tell the annuity industry. According to a recent article on LifeHealthPro.com, transactional productivity for fixed and variable annuities […]
Index Life & Annuity Forum
{October 24th, 2011} by Sheryl J. Moore
Home // // Index Life & Annuity Forum – Orlando Thursday, November 03, 2011 8:00 AM – Friday, November 04, 2011 1:00 PM (Eastern Time) Omni Orlando Resort at ChampionsGate (407) 390-6664 1500 Masters Blvd. ChampionsGate, Florida 33896 United States Map and Directions All Travel Arrangements and Hotel Accomodations will be the […]
Bank Annuity Sales Take Off, with Wells Fargo Leading the Way
{October 18th, 2011} by Elizabeth Festa
October 14, 2011 By Elizabeth Festa Bank holding company sales of annuities rose 25% in the first half of 2011 over the first half the previous year, hitting a record $1.53 billion in income earned, a hefty chunk of their total mutual fund/annuity income total, according to a report sponsored by the American Bankers Insurance […]
It Is An Exciting Time to Have Indexed Life in Your Arsenal
{October 16th, 2011} by Sheryl J. Moore
For nearly 15 years I have been singing the praises of Indexed Life. For much of that time, people ignored my preaching about this product rich in guarantees, which also gave the ability to earn interest based on the market’s performance. WELL NOT ANYMORE! At the close of 2010, Indexed Life sale eclipsed VUL sales […]
Zenith Marketing Group Hires James P. Farrell as Vice President of Brokerage Sales
{October 16th, 2011} by N/A
Zenith Marketing Group Inc., with offices in Freehold, NJ, Charlotte, NC, York, PA, and Wayne, PA announces the hiring of James P. Farrell as Vice President/Brokerage Sales. In his new role, Mr. Farrell will manage and develop relationships with independent producers, independent marketing organizations, and broker/dealers to increase sales of life insurance, annuities, long-term care, […]
The Role of Fixed Indexed Universal Life Insurance as a Retirement Income Tool
{October 14th, 2011} by Dennis Sudac
October 12, 2011 By Dennis Sudac There would have been virtually no need for Fixed Indexed Universal Life if it had existed in the 1760s, when life insurance was first introduced in North America. One of the major attractions of FIUL – the ability to accumulate cash for tax-efficient retirement income planning – would hardly […]
Haste Makes Waste When Selling Annuities
{October 13th, 2011} by Lev Barinskiy
Lev Barinskiy AnnuityNews.com Selling requires patience. And this is especially true when selling a complex product such as annuities. If you rush through any step in the sales process, you risk alienating your customer with a style that feels high pressure and uncomfortable to them. Each step must be conducted with skill and thoroughness. And […]
Is Occupy Wall Street an Opportunity for Annuities?
{October 13th, 2011} by Daniel Williams
October 10, 2011 By Daniel Williams As a journalist, I’m not an optimist by nature. My eye’s trained to look for the dark side of the story—you know, the old motto: “If it bleeds it leads.” But I can’t help but see a silver lining for annuities in this whole Occupy Wall Street business. Ah, […]
A Long Tail, Getting Longer
{October 13th, 2011} by Bill Coffin
October 12, 2011 By Bill Coffin Watch those tails, people. I was a bit surprised when I checked out industry data from the Insurance Information Institute earlier this year that had pegged industry earnings for 2010, because for the first time that I can remember, life insurance became the smallest sector in this business. Annuities […]
NAIC Issues Bulletin Against Stranger-Originated Annuities
{October 13th, 2011} by Elizabeth Festa
October 12, 2011 By Elizabeth Festa The National Association of Insurance Commissioners (NAIC) adopted several items at its met via conference call Tuesday evening, held to replace the cancelled Summer National Meeting in Philadelphia, one of which is a bulletin on stranger-originated annuity transactions (STOAs). The bulletin encourages insurance companies to establish safeguards to prevent […]
Can Annuities Solve The Retirement Crisis?
{October 12th, 2011} by Linda Koco
October 06, 2011 Linda Koco AnnuityNews.com A government study is drawing accolades from professionals in the insurance and financial community—a rare event, given that government and financial interests are often at odds. The 79-page document issued by the U.S. Government Accountability Office (GAO) says experts are recommending use of income annuities to generate […]
Why The Press Doesn't Understand Annuities
{October 12th, 2011} by Brian D. Mann
October 10, 2011 By Brian D. Mann AnnuityNews.com A common theme in the popular financial press is that indexed annuities are a rip-off. In January, for instance, Bloomberg published an article titled “Indexed Annuities Cap Gains, Obscure Fees as Sellers Earn Trip to Disney.” Money Magazine published the […]
Why The Press Doesn’t Understand Annuities
{October 12th, 2011} by Brian D. Mann
October 10, 2011 By Brian D. Mann AnnuityNews.com A common theme in the popular financial press is that indexed annuities are a rip-off. In January, for instance, Bloomberg published an article titled “Indexed Annuities Cap Gains, Obscure Fees as Sellers Earn Trip to Disney.” Money Magazine published the […]
Speed-to-Market Building Steam
{October 12th, 2011} by Linda Koco
October 12, 2011 By Linda Koco Contributing Editor, AnnuityNews Many insurance producers today are getting faster access to individual insurance products — including annuity products — than they did five years ago because more states are signing onto a compact designed to bring products to market faster, according to the commission administering the effort. The […]
Study Reveals Lack of Knowledge about Income Needed for Retirement
{October 12th, 2011} by Warren S. Hersch
October 11, 2011 By Warren S. Hersch Most Americans fail to calculate how much money they will need for a steady and lasting retirement income, according to a new report. MetLife Mature Market Institute, Westport, Conn., published this finding in a summary of results of a 2011 MetLife Retirement Income IQ, a quiz that includes […]
A Producer's Guide to Selling Suitably
{October 10th, 2011} by Nicholas C. Gehart and Patrick C. Reeder
Click here to read the article.
A Producer’s Guide to Selling Suitably
{October 10th, 2011} by Nicholas C. Gehart and Patrick C. Reeder
Click here to read the article.
Guggenheim scoops up insurer to build fixed indexed annuities
{October 10th, 2011} by Darla Mercado
Gives firm 10th-place market share, wider distribution By Darla Mercado October 7, 2011 Guggenheim Partners LLC has bought EquiTrust Life Insurance Co., ramping up its presence in the fixed-indexed-annuity realm. The deal was announced in a filing with the Securities and Exchange Commission today. Guggenheim bought the insurer from FBL Financial Group Inc. for a […]
FBL Financial Group to Sell EquiTrust Life Insurance Company to Guggenheim Partners, LLC
{October 7th, 2011} by N/A
Capital Management Actions Announced Including Senior Notes Redemption and Stock Repurchase Press ReleaseSource: FBL Financial Group, Inc. On Friday October 7, 2011, 9:16 am EDT WEST DES MOINES, Iowa–(BUSINESS WIRE)– FBL Financial Group, Inc. (NYSE:FFG – News) today announced it has agreed to sell its subsidiary, EquiTrust Life Insurance Company, to controlled affiliates of Guggenheim […]
VA Players Nosing into Indexed Annuity Market
{October 6th, 2011} by Linda Koco
Registered reps who have been selling variable annuities will soon be asked to start selling indexed annuities, too. Click HERE to view the full story via InvestmentNews; registration required According to Sheryl Moore, the president and CEO of Advantage Group, the existing VA/IA players include: AEGON Companies, American General, Allianz, American National, Ameritas Life, […]
Nationwide Financial Announces Realignment to Expand Services to Advisors, Agents and Customers
{October 5th, 2011} by N/A
press release Oct. 3, 2011, 4:00 p.m. EDT COLUMBUS, Ohio, Oct 03, 2011 (BUSINESS WIRE) — Nationwide Financial Services, Inc. today announced a reorganization that will expand delivery of its financial services offerings to members of its mutual while strengthening partnerships with key firms and advisors through innovative product development. Peter Golato, formerly senior vice […]
ING Introduces New Indexed Universal Life Insurance Products with Strong Growth Potential and Death Benefit Guarantee
{October 5th, 2011} by N/A
press release Oct. 4, 2011, 2:02 p.m. EDT MINNEAPOLIS, Oct. 4, 2011 /PRNewswire via COMTEX/ — ING Life Companies (ING) introduced new no-lapse indexed universal life insurance products, ING Indexed Universal Life – Guaranteed Death Benefit, issued by Security Life of Denver Insurance Company (Denver, CO) and ING Indexed Universal Life – Guaranteed Death Benefit […]
The case for fixed annuities
{October 5th, 2011} by Jack Marrion
October 3, 2011 By Jack Marrion A recent study found that when retirees were essentially faced with a coin toss, where if it came up heads they’d win $100 and if it came up tails they’d lose $10, that half of the retirees wouldn’t take the bet–even though the upside is 10 to one. This […]
Allianz Life Promotes Barrow To Vice President, Corporate Governance
{October 5th, 2011} by N/A
MINNEAPOLIS–(BUSINESS WIRE)– Allianz Life Insurance Company of North America (Allianz Life) today named Kara Barrow as the new vice president, Corporate Governance. In this role, Barrow will be responsible for leading the Legal department’s Corporate Governance team, which provides legal support for the Finance, Procurement, Investment and IT departments, supports Allianz Life product funds and […]
Life Insurers and Long Distance Relationships
{October 4th, 2011} by Wendy C. Waugaman
By Wendy C. Waugaman Published September 29, 2011 | Retirement Miracle You have known your family insurance agent a long time. He has helped you with your insurance needs for years, understands your family and your financial situation. He has always done a good job for you. You like him, and not just that, you […]
When talking to clients about annuities, think about demographics, says Allianz exec
{October 4th, 2011} by Darla Mercado
System has to change; in the meantime, help clients confront realities of longevity By Darla Mercado October 3, 2011 Advisers hoping to broach the topic of annuities with clients ought to step back from product features and focus on the greater context of longevity protection. That was the message of Gary Bhojwani, chief executive of […]
Aegon to Shed 300 Netherlands Jobs in Reorganization
{October 4th, 2011} by N/A
Copyright: (c) 2011 A.M. Best Company, Inc. Source: A.M. Best Company, Inc. Wordcount: 479 Aegon NV said it will restructure its Netherlands operation to make the business “more agile and better positioned” to respond to changes in the Dutch market. The group said the move will make 300 jobs “redundant.” The restructuring move is “an […]
Insurers Delay Contingent Annuity Launches
{October 4th, 2011} by Linda Koco
By Linda Koco Contributing Editor, AnnuityNews A number of insurers are delaying launch of contingent annuity products, according to a trade association executive who spoke at a phone conference of state regulators late last week. They are waiting for state insurance regulators to decide how they intend to deal with the products, said Lee Covington, […]
Securian Completes Acquisition of Life Insurance Companies from Bank of America
{October 4th, 2011} by N/A
Copyright: Copyright Business Wire 2011 Source: Business Wire, Inc. Wordcount: 302 ST. PAUL, Minn.–(BUSINESS WIRE)– Securian Financial Group, Inc. closed its purchase of Balboa Life Insurance Company and Balboa Life Insurance Company of New York from a subsidiary of Bank of America. “This acquisition increases the scale of our financial institution business and further demonstrates […]
