Tweet away: Finra backs off social-media posting regs
{December 30th, 2011} by Dan Jamieson
Burden of vetting posts cited, victory for securities industry By Dan Jamieson December 30, 2011 The Financial Industry Regulatory Authority Inc. has backed away from a proposal that would have required broker-dealers to file social-media postings with the regulator. In an update to a package of proposed communications rules filed with the Securities and Exchange […]
ING: 5 Ways To Make Retirement Planning a Priority In The New Year
{December 30th, 2011} by N/A
December 28, 2011 PR Newswire Association LLC WINDSOR, Conn./PRNewswire/ –As Americans begin to make their resolutions for the New Year, new findings from the ING Retirement Research Institute suggest that better retirement planning and saving should be high on the list. According to recent findings, 71 percent of Americans do not have a formal investment […]
Allianz Life Insurance hires new external comms director
{December 29th, 2011} by Rose Gordon
Rose Gordon December 28 2011 MINNEAPOLIS, MN: Sara Thurin Rollin is now director of external communications for Allianz Life Insurance Company of North America where she is tasked with building the financial services company’s reputation. Rollin has 20 years of media experience, including as a daily business news reporter in Washington, DC. Rollin’s previous corporate […]
Idaho Insurance Department Says To Be Cautious Of Annuity Tax-Break Offers
{December 28th, 2011} by N/A
December 22, 2011 By The Idaho Statesman, Boise McClatchy-Tribune Information Services Dec. 22–Be cautious about handing over ownership of annuities or buying charitable-gift annuities to get year-end tax breaks, theIdaho Department of Insurancewarned Thursday. “The latest year-end tax-saving promise asks consumers to sign over annuities to an out-of-state organization in order to receive a […]
Producers as Dream Keepers
{December 28th, 2011} by Steve Parrish
December 22, 2011 By Steve Parrish InsuranceNewsNet Magazine, December 2011 We’ve all heard people make some version of this comment: “I don’t trust doctors (or lawyers or plumbers or financial professionals), but mine does a great job.” This common consumer reaction leads to the marketing adage that consumers are typically unhappy with advisors, unless you’re […]
Selling Suitably in 2012
{December 28th, 2011} by Nicholas C. Gerhart and Patrick C. Reeder
December 21, 2011 By Nicholas C. Gerhart and Patrick C. Reeder AnnuityNews InsuranceNewsNet Magazine, October 2011 Annuities continue to play an important part in retirement income discussions, just as regulators have been strongly focused on the product and how these products are sold. For example, the NAIC adopted a revised Suitability in Annuity Transactions Model […]
What’s Coming Down the Producer’s Pipeline in 2012?
{December 28th, 2011} by Ray Ohlson
December 21, 2011 By Ray Ohlson AnnuityNews The past few years have been trying for the world’s economy. We still have a very high unemployment rate and an anemic economic growth rate. And just when we think that our financial markets are bouncing back, we have another setback – the interest rate environment. Interest rates […]
Interest in Indexed Annuities On The Rise
{December 28th, 2011} by Sheryl J. Moore
December 28, 2011 By Sheryl Moore AnnuityNews The negative stigma surrounding indexed annuities has certainly lessened over the past few years. However, indexed annuities aren’t exactly in “the good graces” of the entire insurance industry. Sure, the media has been illuminated on the relatively few problems in the market and the Securities and Exchange Commission’s […]
New FED Standards May Impact Life Insurers
{December 28th, 2011} by Arthur D. Postal
By Arthur D. Postal December 21, 2011 Insurers designated as systemically significant would be subject to the same capital standards as banks under a proposed framework by the Federal Reserve Board, a life insurance analyst warned today. In a note to investors, John Nadel of Stern Agee, Inc. in New York, said the issue is […]
NAIC Pursues Comprehensive Market Conduct Assessment and Perhaps, Consolidation
{December 28th, 2011} by Elizabeth Festa
A central repository of state market conduct data? (AP Photo/Nati Harnik, File) The NAIC is addressing the possibility of a central repository of state market conduct data in its main systems under a 2012 large-scale effort to beef up its market conduct and consumer protection profile, and make sure states are doing the same. The […]
SNL Financial: Annuity Considerations Up Nearly 15% in 2011
{December 23rd, 2011} by Warren S. Hersch
By Warren S. Hersch December 13, 2011 Funds flowing into annuities increased by nearly 15% in the first three quarters of 2011, a new survey reveals. SNL Financial LC, Charlottesville, Va., published this finding in a report on “annuity considerations,” periodic payments or one lump sum payment made to purchase an annuity plan. SNL’s analysis […]
Kehrer-LIMRA: Bank Annuity Sales Up 11% Over Year-Ago Period
{December 23rd, 2011} by Warren S. Hersch
By Warren S. Hersch December 16, 2011 Annuity sales through financial institutions increased nearly 11% in the third quarter of 2011 compared to the comparable period one year ago, according to a new report. Kehrer-LIMRA, a subsidiary of LIMRA Services, Windsor, Conn., published this finding in a summary of results from its monthly bank annuity […]
Party Crashers
{December 23rd, 2011} by Arthur D. Postal
How the SEC plans to keep tabs on living benefits By Arthur D. Postal From the December 5, 2011 issue of National Underwriter Life & Health Magazine The Securities and Exchange Commission is signaling to industry lawyers it is focusing on the disclosures involved in annuities that provide living benefit riders. In comments at an […]
What Wall Street Doesn't Want You to Know About Your 401(k)
{December 23rd, 2011} by Sandy Harris and Phyllis Shelton
Posted: 12/20/11 09:15 AM ET The year is 1946. It is a very special year. The President declares the end of World War II. The U.N. meets for the first time. The President sets up the Central Intelligence Agency. The US Supreme court rules race separation on buses is unconstitutional. Congress passes a law to […]
Liberty Life Insurance Company Completes Reinsurance Transaction
{December 23rd, 2011} by Bill Free
press release Dec. 20, 2011, 10:12 a.m. EST GREENVILLE, S.C., Dec 20, 2011 (BUSINESS WIRE) — Liberty Life Insurance Company today announced it had reinsured $3.1 billion of fixed annuities and similar liabilities. With the completion of this transaction, Liberty Life will have assets in excess of $7 billion. On a consolidated basis, Athene Holding […]
John Hancock Financial Names John G. Vrysen as President, John Hancock Annuities
{December 23rd, 2011} by N/A
BOSTON, Dec. 20, 2011 — BOSTON, Dec. 20, 2011 /PRNewswire/ — John Hancock Financial Services has named John G. Vrysen to serve as President of its Annuities business, effective immediately. The annuities business includes fixed and variable annuities, immediate annuities, structured settlements and institutional fixed products. In his new role, Mr. Vrysen reports to Hugh […]
5 Questions With Genworth (About Annuities)
{December 23rd, 2011} by Daniel Williams
By Daniel Williams December 19, 2011 As an editor I receive quite a few PR pitches. Many go into the trashcan, as they don’t fit our idea of news or are deemed not a benefit to financial advisors. One that caught my eye recently was an email from Genworth announcing that after “having been out […]
2012: Industry Views from the 2011 NAFA Summit
{December 23rd, 2011} by Rob Billingham
By Rob Billingham InsuranceNewsNet Magazine, December 2011 Industry principals and executives offered their insight on what’s ahead in 2012 in the ever-changing world of indexed annuities at the 2011 National Association for Fixed Annuities (NAFA) Summit. Niju Viswani- President of Altisure Group Annuities will remain a strong player next year. The tumultuous stock market forces […]
Use the Low Interest Rate Environment to Boost Sales
{December 23rd, 2011} by W. Andrew Unkefer
By W. Andrew Unkefer AnnuityNews No, I am not crazy. If you are selling fixed annuities, indexed annuities or any other “safe rate” financial vehicles, keep reading. I speak to hundreds of busy agents each month and thousands per year. Some have already discovered what I am about to share with you. Do you know […]
Allianz: Americans Unlikely to Address Financial Planning in 2012
{December 23rd, 2011} by N/A
Business Wire, Inc. Despite Tumultuous Economy, Financial Planning Takes a Back Seat and Waistlines Trump Wallets in New Year’s Resolutions MINNEAPOLIS–(BUSINESS WIRE)– Even though 2011 saw high unemployment, sagging home prices and a volatile stock market, 80 percent of Americans said that they will not focus on financial planning in their resolutions for 2012, according […]
Tokio Marine Holdings to Acquire Delphi Financial Group in $2.7 Billion Transaction
{December 23rd, 2011} by Naotake Hamada
Continued Expansion of International Business by Tokio Marine Complementary Addition to Existing U.S. Operations Press Release: Tokio Marine Holdings, Inc. and Delphi Financial Group, Inc. – Wed, Dec 21, 2011 2:15 AM EST TOKYO & NEW YORK–(BUSINESS WIRE)– Tokio Marine Holdings, Inc. (TMHD) and Delphi Financial Group, Inc. (Delphi) (NYSE:DFG – News) today announced that […]
Allianz Survey: Americans Still Unlikely to Address Financial Planning in 2012
{December 22nd, 2011} by Staff Writer
By staff writer December 21, 2011 Even though 2011 saw high unemployment, sagging home prices and a volatile stock market, 80 percent of Americans said that they will not focus on financial planning in their resolutions for 2012, according to a recent survey from Allianz Life Insurance Company of North America (Allianz Life). This lack […]
Genworth Introduces New Fixed Index Annuity Product Suite
{December 20th, 2011} by N/A
Guaranteed growth, protection, competitive cap rates and access to funds highlight SecureLiving® Index 7 and SecureLiving® Index 10 Plus offerings RICHMOND, VA. — December 12, 2011 /PRNewswire/ — Genworth Financial, Inc. (NYSE:GNW) announced today the launch of two new index annuities designed to meet the growing needs of America’s security-conscious consumers. SecureLiving® Index 7 and […]
New Allianz Life boss won't tinker with controversial distribution model
{December 20th, 2011} by Darla Mercado
Indexed annuity program rewarding big Allianz sellers with exclusive products here to stay By Darla Mercado December 19, 2011 Allianz Life’s new CEO is sticking with the insurer’s controversial indexed-annuity distribution model, dashing the hopes of some independent agents. The new CEO Walter White, once Allianz Life Insurance Co. of North America’s chief administrative officer, […]
IRI to Federal Insurance Office: Annuities Critical to Retirement
{December 20th, 2011} by Lee Barney
December 18, 2011 Lee Barney The Insured Retirement Institute Friday responded to the Federal Insurance Office’s request for comment on how to modernize insurance regulation in the U.S. IRI said the nation’s insurance regulatory system needs to be modernized – and insurance products, most notably annuities and other insured retirement income products – need to […]
A.M. Best Places Ratings of Allianz Life Insurance Co. of NA & Its Subsidiaries Under Review With Negative Implications
{December 20th, 2011} by N/A
Best’s News Service – December 19, 2011 01:23 PM OLDWICK, N.J. – A.M. Best Co. has placed under review with negative implications and affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a+” of Allianz Life Insurance Company of North America (Minneapolis, MN) and its subsidiary, Allianz Life Insurance […]
Is the NAIC a Trade Group or Official Standard-Setter?
{December 20th, 2011} by Elizabeth Festa & Arthur D. Postal
By Elizabeth Festa & Arthur D. Postal December 19, 2011 The National Association of Insurance Commissioners Tuesday plans to announce an initiative to brand itself as a “standard-setting organization” rather than a trade group–a designation other industry officials say the trade group does not have the legal authority to assume. The NAIC staff and leadership […]
Producers Face Insurance Challenges in 2012
{December 20th, 2011} by Alan Levine
By Alan Lavine Penton Business Media Financial advisors are increasingly concerned about the financial strength of the insurance companies whose products they sell. They cite low interest rates and exposure to the stock market via product principal guarantees as grounds for their concern, according to a fall study by LIMRA. Some 26 percent of financial […]
Liberty Life Insurance Company Opens Sales and Marketing Office
{December 16th, 2011} by N/A
Business Wire, Inc. GREENVILLE, S.C.–(BUSINESS WIRE)– Liberty Life Insurance Company, a subsidiary of Athene Holding Ltd., has expanded its retail annuity operations into the Northeast financial corridor with the opening of a new sales and marketing office in Wilmington, Delaware. The 6,000 square foot facility, located at 500 Delaware Avenue along the western gateway to […]
Dalbar Announces Its 2011 Annuity Service Award Winners in Financial Services
{December 16th, 2011} by N/A
Today Dalbar released the 2011 winners of its annual Annuity Service Award. AXA Equitable-Equivest, New York Life, Pacific Life, Prudential Financial and SunAmerica Annuity and Life Assurance Company emerged as the leaders in customer service in 2011. For over two decades, Dalbar has conducted rigorous testing of service delivery and, each year identifies those annuity […]
2012 Could Be Rebuilding Year for Annuities
{December 15th, 2011} by Linda Koco
By Linda Koco Contributing Editor, AnnuityNews At an insurance conference this year, an agent in the audience stood up and asked a panel of company executives about when they are going to come out with some new products. A review of new products shows that annuity carriers have definitely unveiled new products this year, but […]
Allianz Shakes Up Management Board; Appoints First Female Member
{December 15th, 2011} by David Pilla
December 14, 2011 By David Pilla A.M. Best Company, Inc. Allianz SEannounced major changes to its board of management, as three veterans depart to make way for what the group’s chief executive called an “even more diverse, younger and more experienced” management team. TheGermany-based multiple-line insurer said board veteransPaul AchleitnerandEnrico Cucchianihave been “released” from their […]
Allianz Life names new CEO to replace Bhojwani
{December 14th, 2011} by Ed Stych
Minneapolis / St. Paul Business Journal by Ed Stych, Web Producer Date: Wednesday, December 14, 2011, 1:19pm CST Allianz Life Insurance Co. of North America Allianz Life Insurance Co. of North America Latest from The Business Journals Allianz sells out, giving REIT entree to Rickenbacker industrial marketAllianz names new chief investment officerAllianz Life Insurance […]
Allianz Life names new CEO
{December 14th, 2011} by Darla Mercado
Walter White takes helm of U.S. ops, arrives with brokerage expertise By Darla Mercado December 14, 2011 Allianz Life Insurance Co. of North America today promoted Walter White to chief executive, succeeding Gary Bhojwani. Parent company Allianz SE has elevated Mr. Bhojwani to its management board, where he now will oversee the U.S. property/casualty and life […]
Sun Life To Ax 800 Jobs
{December 14th, 2011} by Jerry Kronenberg
By Jerry Kronenberg, Boston Herald Dec. 13–Canadian insurance giant Sun Life Financialis cutting some 800 U.S. jobs, with roughly half of the layoffs hitting the firm’s American headquarters in Wellesley. “It’s fair to say that the vast majority of the impacts will be in the Boston area,” Sun Life spokesman Frank Switzer told the Herald, […]
Is it a Great Time for Indexed Annuities?
{December 14th, 2011} by Daniel Williams
Last week, LifeHealthPro and ProducersWEB co-hosted a Twitter chat with indexed annuities expert Sheryl Moore, (left) president of annuityspecs.com. Below, we’ve highlight some of the key topics, including booming indexed annuity (IA) sales, non-traditional competitors entering the annuity space and the 10/10 rule, just to name a few. As you look over these items, […]
Genworth Financial, Pacific Life, W&S Financial Group, Jefferson National Debut New Products
{December 14th, 2011} by Warren S. Hersch
By Warren S. Hersch December 12, 2011 Genworth Financial, Inc., Richmond, Va. (NYSE:GNW), has launched two new index annuities. Dubbed SecureLiving Index 7 and SecureLiving Index 10 Plus, the products will be issued by Genworth Life and Annuity Insurance Company. Genworth says the single-premium, fixed deferred annuities offer index-based and fixed interest crediting strategies. Consumers […]
Policyholders Getting Smarter, Leading to Charges for VA Products, Says Moody's
{December 14th, 2011} by Elizabeth Festa
By Elizabeth Festa December 12, 2011 Image courtesy AP Charges related to changes in policyholder assumptions on variable annuities with guaranteed benefits may emerge among life insurance companies in the U.S., putting a dent in earnings and capital, according to a new Moody’s report in the wake of ING’s announcement that it would take a […]
Genworth Launches New Fixed Index Annuity Product Suite
{December 14th, 2011} by N/A
PR Newswire Association LLC RICHMOND, Va., Dec. 12, 2011 /PRNewswire/ — Genworth Financial, Inc. (NYSE:GNW) announced today the launch of two new index annuities designed to meet the growing needs of America’s security-conscious consumers. SecureLiving® Index 7 and SecureLiving® Index 10 Plus will be issued by Genworth Life and Annuity Insurance Company. To view the […]
Sun Life To End Variable Annuity, Life Sales In U.S.
{December 14th, 2011} by Fran Lysiak
By Fran Lysiak A.M. Best Company, Inc. Canada-based Sun Life Financial Inc. said it will stop selling its variable annuities in the United States, as of Dec. 30. Additionally, Sun Life will stop selling individual life insurance products in the United States. Those decisions were reached after a “major strategic review” of its businesses, the […]
3Q Fixed Annuity Bank Sales Up 3%, Hit $4.1B
{December 11th, 2011} by Sarah Grano
WASHINGTON — Fixed annuity sales by banks and other depository institutions generated $4.1 billion in the third quarter, a three percent increase over the same period a year ago, according to data released today by the American Bankers Insurance Association. The sales estimates are based on findings from the Beacon Research Fixed Annuity Premium Study. […]
Liberty Life Insurance Company Taps Lund, Pinkley as Regional VPs
{December 9th, 2011} by N/A
GREENVILLE, S.C.–(BUSINESS WIRE)–Liberty Life Insurance Company, a subsidiary of Athene Holding Ltd., announced that Eric Lund and Keith Pinkley have joined the fixed annuity carrier’s national sales team as VP/relationship manager. Lund, with responsibility for the western region, brings over 25 years of experience in regional and national sales management, business development and product wholesaling […]
Eyeing the Benefits of Interest-rate Benchmark Feature for Fixed Index Annuities
{December 9th, 2011} by Kenneth L. Brown
By Kenneth L. Brown December 8, 2011 Today’s historically low interest rates may be a boon to mortgage-seekers and other borrowers, but they can be a curse for market-weary consumers seeking interest income or long-term growth options. As of fall of 2011, traditional savings accounts are bearing negligible interest, and money market accounts aren’t faring […]
LIMRA Survey: Most Retiring Employees Elect To Leave Retirement Assets in DC Plan
{December 9th, 2011} by Warren S. Hersch
By Warren S. Hersch December 8, 2011 Of the possible rollover actions to take upon employment termination, leaving money in an employer’s defined contribution plan is the most common choice among recent retirees and pre-retirees, according to a new survey. LIMRA, Windsor, Conn., published this finding in a summary of results from a survey, “Keys […]
Challenges for the Life and Annuity Industry in 2012
{December 8th, 2011} by Michael K. Stanley
By Michael K. Stanley December 7, 2011 As 2011 draws to a close the industry faces a world in-flux. In the US, the life and annuity industry must navigate an ever-changing path with obstacles appearing, disappearing and appearing again. The industry will need to display unwavering gumption with the only certainty being an amorphous political […]
Putting the 'New' in Annuities
{December 8th, 2011} by Ron Panko
Panko, Ron Variable annuity writers have taken a new step in risk management by introducing investment options with hedge assets. The financial crisis was a horrible experience for people as they watched their asset values fall sharply. But it was also an amazing laboratory for risk management by writers of retirement savings products, said Ken […]
Retirement Anxiety Inspires Rush of New Annuity Products
{December 8th, 2011} by Linda Koco
December 01, 2011 By Linda Koco InsuranceNewsNet Magazine, December 2011 Recent annuity product rollouts are putting the spotlight on retirement income strategies as opposed to the how-much-you-can-accumulate focus of yesteryear—and advisors are of two minds about that. Because so many of the new annuity debuts mention retirement income, annuity historians may one day call this […]
Why Do They Have Faith in the Market?
{December 8th, 2011} by Brian D. Mann
December 07, 2011 By Brian D. Mann AnnuityNews This article was inspired by a client who, after I proposed an annuity with a guaranteed lifetime withdrawal benefit rider to protect his retirement income from investment risk, said, “I’ll just stick with what I’m doing now. I have enough time to ride out my losses in […]
Hartford Financial Services Group Sells Division
{December 8th, 2011} by Staff Writer
Hartford, Conn. (AP)—Hartford Financial Services Group Inc. (NYSE: HIG) is selling a subsidiary that provides insurance to wealthy customers for $117.5 million to Philadelphia Financial Group Inc. Philadelphia Financial Group said Monday it expects to close the deal next year, assuming responsibility for servicing about $35 billion in private placement insurance business. The subsidiary is […]
Maximize Your Clients’ Social Security
{December 8th, 2011} by Michael Hamm
By Michael Ham December 4, 2011 The Dalai Lama was asked what surprised him in life the most. He replied, “Man, because he sacrifices his health in order to make money. Then he sacrifices money to recuperate his health.” Why do we fret so much and make ourselves sick? Simple answer: money or the lack […]
NAIC-Proposed Budget is Top-Heavy With Surplus, Industry Groups Complain
{December 8th, 2011} by Elizabeth D. Festa
By Elizabeth D. Festa December 6, 2011 NAIC 2012 proposed budget, which includes total revenues of $79.2 million and total expenses of $77.6 million, up almost 5% and 2.5% respectively, got its annual earful from the trade associations in the past weeks, with one organization calling for zero growth and others targeting its surplus and […]
LIMRA Survey: VA Buyers Overwhelmingly Favored a GLB Option in Third Quarter
{December 8th, 2011} by Warren S. Hersch
By Warren S. Hersch December 6, 2011 Nearly 9 in 10 variable annuity buyers elected to purchase a guaranteed living benefit rider in the third quarter of 2011, according to a new report. LIMRA, Windsor, Conn., published this finding in a summary of results from a Variable Annuity Guaranteed Living Benefit Election Tracking Survey that […]
ING Expects E1.1 Billion Hit In 4Q Earnings
{December 8th, 2011} by Archibald Preuschat
ING Expects E1.1 Billion Hit In 4Q Earnings — ING takes a charge of up to EUR1.1 billion in the fourth quarter — Charge is on its US closed block variable annuity business — Company continuing to prepare IPOs for its insurance businesses AMSTERDAM — ING Group NV (INGA.AE) said Wednesday that fourth-quarter earnings will […]
How to Fix Your 401(k) Plan
{December 4th, 2011} by Dan Kadlec
By Dan Kadlec | @dankadlec | November 28, 2011 As the traditional pension disappears, the 401(k) plan is evolving into something that one day might actually be just as good. That’s saying a lot. The certainty of monthly income for life, which traditional pensions promise, is a high bar. Meanwhile, 401(k) plans have taken their […]
Barney Frank Retiring
{December 4th, 2011} by Arthur D. Postal
From the Washington Bureau By Arthur D. Postal November 28, 2011 Rep. Barney Frank, D-Mass., one of the primary authors of financial services reform legislation passed by Congress last year, said today he would not return to the next Congress in 2013. He will have served 32 years in Congress. Rep. Maxine Waters, D-Calif., is […]
What Would You Do?
{December 4th, 2011} by Sheryl J. Moore
If you could be Sheryl J. Moore for ONE day…what would you do? – Teach regulators about indexed life insurance and indexed annuities? – Write an article about life insurance and annuities, in order to educate insurance agents? – Read a sample annuity contract? – Evaluate a life insurance specimen contract? – Crunch sales data and […]
Are you considering changing your broker/dealer because of their position on FIAs?
{December 4th, 2011} by Jason Kestler
Added: November 29, 2011 Over the years, we’ve learned that someone will not leave their current broker/dealer until the pain to stay exceeds the pain to move. So, if you are currently experiencing pain at your B/D, what should you do? If you are not securities licensed, you can stop reading right here – maybe. […]
A Good Marriage: Life Insurance and Annuities
{December 4th, 2011} by Alan Lavine
By Alan Lavine Penton Business Media What do you get when you splice together a life insurance policy and an immediate annuity? A reversionary annuity. Yes, that’s a mouthful, but it carries some of the advantages of each and is ideal for certain kinds of clients. The niche insurance product combines an insurance policy […]
Beacon: Income, Indexed Annuity Sales Increase In 3Q
{December 4th, 2011} by N/A
Beacon: Income, Indexed Annuity Sales Increase In 3Q GlobeNewswire EVANSTON, Ill., Nov. 30, 2011(GLOBE NEWSWIRE) — Third quarter 2011 income and indexed annuity sales topped the year-ago quarter according to estimates from the Beacon ResearchFixed Annuity Premium Study. Income annuities advanced 5% to $2.2 billion, and indexed annuities inched up 0.4% to $9.0 billion. Indexed […]
The Hartford Launches Fixed Index Annuities For Risk-Averse Retirement Savers
{December 4th, 2011} by N/A
Business Wire, Inc. The Hartford Saver SolutionSM and Saver Solution ChoiceSM expand The Hartford’s annuity product line to meet a broader range of consumer needs SIMSBURY, Conn.–(BUSINESS WIRE)– The Hartford has introduced two fixed index annuities that allow risk-averse investors to build retirement assets in the face of historically low interest rates. The new annuities […]
How to Escape 'Annuicide'
{December 4th, 2011} by Sheryl J. Moore
By Sheryl Moore AnnuityNews I recently had the occasion to read an article entitled, “Insights into the Annuity Puzzle.” This article dedicated a whopping 1,254 words to exploring the question, “Why don’t more Americans turn their annuities into a guaranteed lifetime income stream?” Nobel laureates chimed-in on how framing, loss aversion and various other psychological […]
Carriers Build MVA Annuity Arsenal
{December 4th, 2011} by Linda Koco
By Linda Koco Contributing Editor, AnnuityNews Agents who don’t sell or know about annuities with market value adjustment features might want to start boning up on them now. That’s because carriers that don’t yet have the feature on their annuities are scrambling to add them. A market value adjustment (MVA) is a provision in fixed […]
Futurity First Insurance Group Announces Management Changes to Accelerate Growth of Its Independent Marketing Organizations
{December 4th, 2011} by N/A
ROCKY HILL, CT, Dec 01, 2011 (MARKETWIRE via COMTEX) — Michael Kalen, CEO of Futurity First Insurance Group, recently announced changes to the top management team to accelerate growth of its independent marketing organizations (IMO), BHC Marketing, Inc., and Dressander and Associates. Effective immediately, Mike Dressander will assume an expanded role as President of both […]
Attracting Consumer Interest in a Low Interest-Rate Environment
{December 4th, 2011} by Cary J. Carney
By Cary J. Carney InsuranceNewsNet Magazine, December 2011 The recent low interest rates—a boon for consumers seeking great mortgage deals—have also been a bust for those seeking income from interest-linked financial instruments. In early October, the three-month London Interbank Offered Rate (LIBOR) rate, which drives a range of such instruments, was below 0.4 percent. Such […]
59½ or older and still working? Consider a 401(k) rollover
{December 4th, 2011} by Susan L. Moore Vault
Posted: Friday, December 2, 2011 7:00 am “The question isn’t at what age I retire, it’s at what income.” – George Foreman, former World Heavyweight Boxing Champion and entrepreneur Since the advent of the Defined Contribution Plan – the 401(k) – people have had to deal with choices of various securities: stocks, bonds and mutual […]
The Hartford, Sun Life, Transamerica, Curian Capital Unveil New Offerings
{December 4th, 2011} by Warren S. Hersch
By Warren S. Hersch December 2, 2011 The Hartford Financial Services Group Inc. (NYSE: HIG) Simsbury, Conn., has introduced two fixed index annuities that aims to help risk-averse investors build retirement assets amid historically low interest rates. The new fixed index annuities offer principal protection with the potential to earn interest from three interest crediting […]
Calif. Commissioner Reminds Seniors New Annuity Protections Take Effect Jan. 1
{December 4th, 2011} by N/A
Targeted News Service SACRAMENTO, Calif., Dec. 1 — The California Department of Insurance issued the following news release: Responding to new U.S. Census data released this week indicating a rapidly-growing older population, Insurance Commissioner Dave Jones today reminded consumers that new sweeping annuity protections take effect January 1, 2012. “For far too long, seniors have […]
Fixed Annuity Sales Fall in 3Q, But Some Segments See Increases
{December 4th, 2011} by Lee Conrad
December 01, 2011 | Source Media, Inc. Email Print Free Newsletter Lee Conrad Fixed annuity sales fell 7% in the third quarter to$19 billion, according to Beacon Research’s Fixed Annuity Premium Study. For the year to date, sales fell slightly less than 1% to$58.3 billion. Beacon divides the fixed-income universe into four segments: Fixed-rate MVAs, […]
Beacon CEO: Fixed-Annuity Writers Deliberately Pulling Back Sales Amid Low Interest Rates
{December 4th, 2011} by Fran Matso Lysiak
By Fran Lysiak A.M. Best Company, Inc. Total third-quarter 2011 U.S. sales of individual fixed annuities, including indexed, declined 7% from the same period a year ago and from the second quarter, to about $19 billion, according to Beacon Researchand the Insured Retirement Institute. As long as low interest rates persist, “it’s going to be […]
