The Penn Mutual Life Insurance Company President and CEO Eileen C. McDonnell Is Appointed Vice Chair of The Insurance Federation of Pennsylvania
{August 30th, 2012} by N/A
PR Web Horsham, Pa. (PRWEB) August 28, 2012Eileen C. McDonnell, President and CEO, The Penn Mutual Life Insurance Company, a more than 165-year-old company, was recently appointed vice chair of the Insurance Federation of Pennsylvania, Inc. Upon her fulfillment of the one-year term commitment as vice chair, McDonnell will be promoted to chair of the […]
Second Quarter 2012 Indexed Insurance Sales
{August 22nd, 2012} by Sheryl J. Moore
Indexed Annuity AnnuitySpecs.com’s Indexed Sales & Market Report, 2nd Quarter 2012 shows second quarter 2012 indexed annuity sales were $8719 million compared with sales of $8071 million for the previous quarter. Second quarter sales were up more than 8% when compared with the previous quarter and up nearly 6% when compared with the same period […]
An Introduction to Indexed Annuities- Risk vs. Reward
{August 22nd, 2012} by Sheryl J. Moore
Click here to watch the video.
An Introduction to Indexed Annuities- Crediting Methods
{August 22nd, 2012} by Sheryl J. Moore
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An Introduction to Indexed Annuities- Policy Provisions, Part II
{August 22nd, 2012} by Brokers Alliance
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An Introduction to Indexed Annuities- Policy Provisions
{August 22nd, 2012} by Sheryl J. Moore
Click here to watch the video.
An Introduction to Fixed Indexed Annuities- Indices
{August 21st, 2012} by Sheryl J. Moore
Click here to watch the video.
AnnuitySpecs.com releases second quarter, 2012 indexed sales results
{August 17th, 2012} by Sheryl J. Moore
PLEASANT HILL, IA. – August 15, 2012 — Forty-five indexed annuity carriers participated in the 60th edition of AnnuitySpecs.com’s Indexed Sales & Market Report, representing 99 percent of indexed annuity production. Total second quarter sales were $8.7 billion, up more than 8 percent from the previous quarter. As compared to the same period last year, […]
AIG Looking to Buy Hartford Advisory Group
{August 15th, 2012} by Arthur D. Postal
From the Washington Bureau By Arthur D. Postal July 23, 2012 • American International Group’s SunAmerica unit is seen within the securities distribution industry as the strongest amongst four suitors for Hartford Financial Groups’s broker-dealer arm, Woodbury Financial Services, Inc. Hartford has placed Woodbury, which has 1,600 registered representatives and financial advisers, up for […]
Whole Life Policies: Tapping Cash Value as Alternative to Equity Investing
{August 15th, 2012} by William H. Byrnes, Esq., Robert Bloink, Esq., LL.M.
By William H. Byrnes, Esq., Robert Bloink, Esq., LL.M. July 18, 2012 • Whole life insurance policies have taken the spotlight as investors seek secure investment alternatives to today’s rocky equity markets. Not only do these policies provide for tax-deferred growth, but they come with many of the guarantees sought by clients today. The market […]
Ward's 50 Life/Health Insurers Announced
{August 15th, 2012} by N/A
Ward Group, Cincinnati, Ohio – July 18, 2012 – Annually, Ward Group analyzes the financial performance of nearly 800 life-health insurance companies domiciled in the United States and identifies the top performers in each segment. This group is called the Ward’s 50 for the year. Each Ward’s 50 company has passed all safety and consistency […]
NAILBA Announces New CEO
{August 15th, 2012} by N/A
(Fairfax, Va.)—The National Association of Independent Life Brokerage Agencies (NAILBA) has named Jack Chiasson, CAE as their Chief Executive Officer. He joined the staff in 2004 and has served as NAILBA’s Executive Director since August, 2007. “This change reflects the more strategic nature of Jack’s responsibilities,” said NAILBA Chairman of the Board Dexter S. Umekubo, […]
Call For Increased Disclosure Of Political Spending By Insurance Companies
{August 15th, 2012} by N/A
Targeted News Service WASHINGTON, July 16– Citizens for Responsibility and Ethicsin Washingtonissued the following news release: Today, Citizens for Responsibility and Ethics in Washington (CREW) and other organizations called on the National Association of Insurance Commissioners (NAIC), the regulatory organization for the insurance industry, to require insurance companies to disclose all political spending from corporate […]
Wis. Life Insurer Has $1.5 Million In Unclaimed Policies
{August 15th, 2012} by N/A
Targeted News Service MADISON, Wis., July 18– The Wisconsin State Treasurer issued the following news release: Starting today, Wisconsin residents who believe they are the beneficiaries of a Prudential Insurance Company policy will be able to search the unclaimed property database and see if they are owed any money. Late last week, Prudential Insurance turned […]
American General Discontinues LTCI Program
{August 15th, 2012} by Allison Bell
The American General Life Companies group says it will stop selling the American General LTC product. The group will stop accepting applications for the American General LTC policy — policy form number 08000 — Aug. 1, the group says in a notice posted by several long-term care insurance (LTCI) distributors. American General Life, Houston, is […]
The Hartford Unveils Practice Management Portfolio Program
{August 15th, 2012} by Noah Guillaume
ALSO: Industry news from Hub, New York Life, Ward Group & Philadelphia Insurance By Noah Guillaume July 20, 2012 • The Hartford, Hartford, Conn. (NYSE: HIG), is introducing the Practice Management Portfolio to help financial advisors demonstrate their value in the wake of new federal regulations on the disclosure of fees associated with 401(k) and […]
Midland National Welcomes Kevin Paulson
{August 15th, 2012} by Judy Thorpe
Press Release: Midland National – Fri, Jul 20, 2012 12:00 PM EDT WEST DES MOINES, IA–(Marketwire -07/20/12)- Midland National welcomes Kevin Paulson as Vice President & Chief Distribution Officer. In his new leadership role, Kevin will provide strategic vision, development, and further enhancement of Midland National’s distribution channels including Agent Direct, Bank, Broker Dealer, 403(b), and Institutional […]
Calif. Insurance Commissioner Announces New Public Advisor
{August 15th, 2012} by N/A
SACRAMENTO, Calif., July 18– The California Department of Insuranceissued the following news release: Insurance Commissioner Dave Jones has named a new Public Advisor to assist members of the public and consumer groups with the Proposition 103 intervenor process, under which consumer groups can intervene in proceedings for insurance rate increases and decreases. “I’m pleased to […]
Oxford Life Insurance Company Among Top 50 Insurance Companies
{August 15th, 2012} by N/A
PR Newswire Association LLC PHOENIX, July 19, 2012/PRNewswire/ — Oxford Life Insurance Companytoday announced that it has been named one of Ward’s 50 Benchmark Groupof top performing insurance companies. Each year the Ward Group studies the financial performance of nearly 800 life and health insurance companies domiciled in the United States and identifies the top […]
Connecticut Keeps Market Conduct Exam Ball Rolling
{August 15th, 2012} by Elizabeth Festa
By Elizabeth Festa July 19, 2012 • Connecticut Department of Insurance Commissioner Thomas Leonardi announced today that the Connecticut Insurance Department recovered $2.4 million for policyholders and state taxpayers in the second quarter of 2012. More than half of that is in fines: The state’s market conduct division levied more than $1.5 million in fines […]
Athene Leverages iPipeline CRM to Manage Multiple Channels and Boost Sales
{August 15th, 2012} by Lisa Bollinger
press release July 19, 2012, 9:00 a.m. EDT CRM for Annuities Automates Suitability Reviews and Provides Visibility into Sales Channel Performance EXTON, Pa., Jul 19, 2012 (BUSINESS WIRE) — iPipeline(R), the leader in on-demand marketing, selling and processing solutions for the nation’s top insurance carriers, distributors and producers, today announced that Athene Annuity & Life […]
Calif. Department Of Insurance Issues Warning On Bogus Checks
{August 14th, 2012} by N/A
July 18, 2012 SACRAMENTO, Calif., July 17 — The California Department of Insurance issued the following news release: The California Department of Insurance (CDI) today announced that some checks bearing the name of the Department and purportedly signed by the Insurance Commissioner are fraudulent. Recently, checks have been circulated and presented as a “payment” or […]
Genworth adds more investment options
{August 14th, 2012} by Andrew Osterland
New offerings include strategies from BlackRock, DoubleLine By Andrew Osterland July 20, 2012 Genworth Financial Wealth Management Inc. this week expanded its platform of investment options for independent financial advisers. Strategies from investment firms BlackRock Financial Management Inc., DoubleLine Capital LP, F-Squared Investments Inc., and Forward Management LLC were added to the mix, as well […]
Sammons Financial Group Partners With Aplifi For Annuity Eapp
{August 14th, 2012} by N/A
Posted By: Editor On 7/12/2012 10:05:00 AM PR Web (PRWEB)July 12, 2012 Aplifi, a leading provider of Annuity & Life Order Management, Client Management and Electronic Document Delivery solutions for the financial services and insurance market segments, announced today that it has contracted with Sammons Financial Group, Inc. (“SFG”) to place the annuity products of […]
Annuity Surprises Could Be Jump-Starters
{August 14th, 2012} by N/A
The annuity market is never short on surprises, and the past few weeks have been no exception. Sometimes the surprises are jolts. This time, they are more like jump-starters. For instance, two annuity resources reported upticks in their annuity activity data. This is despite the general sluggishness in the annuity business that’s been showing up […]
Money for Life
{August 14th, 2012} by Maria Wood
A conversation with Guardian’s Douglas Dubitsky By Maria Wood July 16, 2012 • It’s all about lifetime income these days. That’s how Douglas Dubitsky, below right, vice president of product management and development for retirement solutions at Guardian Life Insurance Co. of America, sums up the current annuity landscape. Click here to read more…
Should Annuity Advisors Diversify or Specialize?
{August 14th, 2012} by Daniel Williams
By Daniel Williams July 13, 2012 • What kind of practice are you building? Is it a one-stop shop or are you more of a specialist? This is a question that comes up frequently as we speak with advisors around the country. Click here to read more…
Can We Be Optimistic? Part 2
{August 14th, 2012} by Lloyd Lofton
By Lloyd Lofton July 9, 2012 • Last week, we discussed the challenges retirees face due to inflation and taxation. In this blog, we’ll look at longevity risk and one possible solution. Of the future challenges, which should be of most concern? Perhaps it is the possibility that your clients might live so long […]
Proposed Athene-Presidential Deal Under Review
{August 14th, 2012} by Maria Wood
By Maria Wood July 16, 2012 • Reaction from Friday’s announcement that Athene Annuity & Life Assurance Co. intends to acquire Presidential Life Corp. has filtered in and the reviews are far from positive. Three law firms have undertaken investigations of the proposed sale, and Fitch Ratings may downgrade Athene’s rating. On Friday, the […]
Prudential: More Women Are Breadwinners
{August 14th, 2012} by Maria Wood
But Many Still Lack Confidence in Making Financial Decisions By Maria Wood July 12, 2012 • Although a majority of women now classify themselves as the primary breadwinner in the household, only 20% feel confident in making financial decisions. That disconnect came to light in Prudential Financial’s most recent “Financial Experience & Behaviors Among […]
Aviva: 2 in 3 Women Are Uncomfortable with Their Financial Situation
{August 14th, 2012} by Warren S. Hersch
By Warren S. Hersch July 16, 2012 • Most Americans are uncomfortable with their financial situation, lack understanding of financial products, don’t feel prepared for retirement and rarely discuss finances, according to a new report. Aviva U.S.A., West Des Moines, Iowa, published this finding in a summary of results from an online survey of […]
Agent Gets 10 Years For Life Insurance Fraud
{August 14th, 2012} by Andrew Gomes
By Gomes, Andrew Proquest LLC A former Hawaii insurance agent who drained the life insurance accounts of two customers was sentenced Thursday to 10 years in prison. State Circuit Court Judge Karen Ahn gave Kathleen Kau the prison term for stealing more than $360,000 over five years from two longtime clients, the state Department of […]
Presidential Life Corporation To Be Acquired By Athene Annuity & Life Assurance Company
{August 14th, 2012} by N/A
NYACK, N.Y. & HAMILTON, Bermuda, July 13, 2012 – Presidential Life Corporation (“Presidential Life”) (NASDAQ: PLFE), a Delaware corporation headquartered in Nyack, NY, and Athene Holding Ltd. (“Athene”), a Bermuda-based holding company, today announced a definitive agreement for an Athene subsidiary to acquire Presidential Life for $14.00 per share in cash, representing an aggregate purchase […]
AXA Equitable Will Pay Consumers Up To $850,000 Due To Unlawful Policies
{August 14th, 2012} by N/A
Targeted News Service NEW YORK, July 13– New YorkAttorney General issued the following news release: Attorney General Eric T. Schneiderman announced today a settlement with AXA Equitable Life Insurance Company, after an investigation revealed that the corporation made an undisclosed change to its medical claim reimbursement policy resulting in lower reimbursements for many members. As […]
Reliance Standard Names Andrew B. Davison Senior Vice President of Underwriting
{August 14th, 2012} by N/A
PHILADELPHIA, PA – JULY 12, 2012 – Reliance Standard Life Insurance Company (Reliance Standard), a leading group insurance carrier specializing in employee benefits solutions for companies of all sizes, named Andrew B. Davison senior vice president, underwriting. In his new role Mr. Davison is chief underwriting officer for Reliance Standard, responsible for the overall […]
Guggenheim Vying for Some or All of Aviva USA
{August 13th, 2012} by Sheryl J. Moore
To read the article, click here: http://www.cnbc.com/id/48641419/Guggenheim_Life_well_placed_to_buy_Aviva_USA_report.
R.I.P. Combo Annuities
{August 9th, 2012} by Sheryl J. Moore
Several years ago, I attended one of the most exciting CE courses of my life. It emphasized a new type of product that was going to be hot. Because of legislation that was passed shortly before the class, this new type of annuity promised to be the messiah of the insurance industry: the combo annuity. […]
Is Fidelity Investments on a Mission to Deceive Indexed Annuity Prospects and Policyholders?
{August 7th, 2012} by Sheryl J. Moore
In the past week, I have received two reports of representatives from Fidelity Investments aggressively bad-mouthing indexed annuities to purchasers and/or prospects of these “safe money” products. This cannot be a coincidence. These two different insurance agents did business on opposite sides of the country. They both told me that their clients felt “strong-armed.” The Fidelity Investments representatives were reportedly very aggressive, merely […]
Allianz Life Insurance Sales Up, Annuities Down
{August 3rd, 2012} by Business Wire, Inc.
MINNEAPOLIS–(BUSINESS WIRE)– Minneapolis-based Allianz Life Insurance Company of North America (Allianz Life®) posted operating profit of $381 million for the first half of 2012 compared to profit of $315 million during the first six months of 2011. A growing asset base combined with gains realized on investments was the driving force behind the strong profit […]
