Watch out for sham designations
{September 30th, 2015} by Mike Anthony, JD, CMP™
As an advisor, you must truly be careful what you call yourself and the specialization you claim to have knowledge in. Nowhere is this more true than in the area of professionaldesignations not associated with a university or college degree. Advisors around the country have been using designations offed up by fly-by-night certification programs. These […]
Allianz Life Promotes Todd Hedtke to SVP, Chief Investment Officer
{September 30th, 2015} by Allianz
September 01, 2015 10:55 AM Eastern Daylight Time MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) has promoted Todd Hedtke to senior vice president and chief investment officer for Allianz Investment Management (AIM) US. In his new role, Hedtke will lead the AIM investment leadership team and join the company’s Executive Leadership […]
Symetra Joins Hueler’s Income Solutions® Platform
{September 30th, 2015} by Business WIre
BELLEVUE, Wash., Sep 29, 2015 (BUSINESS WIRE) — Symetra Life Insurance Company today announced it is partnering with Hueler Investment Services, Inc. to offer a Symetra single premium immediate annuity (SPIA) and deferred income annuity (DIA) on the Hueler Income Solutions® platform. The Income Solutions® platform is a fully automated, competitive Annuity Marketplace℠ created specifically […]
FSOC’s Insurance Rep: Global Standards Have ‘Gone Too Far’
{September 30th, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com
WASHINGTON – The insurance representative on the Financial Stability Oversight Council testified that efforts to enact capital standards for globally active insurance companies may have gone too far, although top federal insurance experts said any international standards would reflect U.S. regulations. S. Roy Woodall, the FSOC member with insurance expertise, testified Sept. 29 at a […]
Kansas Insurance Department announces service to find lost life, annuity policies
{September 30th, 2015} by Ken Selzer, CPA, Commissioner of Insurance
The Kansas Insurance Department (KID) can now assist Kansans in locating life insurance and annuity benefits they may be owed. The new Life Insurance Policy and Annuity Search is now available by submitting a request form to our department. Kansans who believe they are beneficiaries, an executor or legal representative of a deceased person can […]
AIG Advisor Group is ‘island of stability’ in BD space: Exec
{September 30th, 2015} by Janet Levaux
As the markets continue along a bumpy path this fall, a number ofbroker-dealers are hitting potholes. That’s good news for the AIG Advisor Group of independent broker-dealers, its executives say, as they gather in San Antonio on Monday for their national educational conference, ConnectED 2015. “This is our best recruiting year in seven years,” said […]
Eric Miller Named VP at Foresters
{September 30th, 2015} by Life & Health Advisor
(Toronto, ON, September 30, 2015) – Cheryl Neal, President, North America Life Insurance for Foresters™ announced today the appointment of Eric Miller as Vice President, US Life and Annuity Sales. Foresters is a leading international financial services provider with $28 billion of funds under management.1 In this role, Miller will lead strategy and plans for […]
The Market Swoon Could Make These Annuities More Popular Than Ever
{September 30th, 2015} by Dan Caplinger
Investors always want the best of both worlds: strong returns during bull markets without the risk of big declines during bear markets. The annuity industry has traditionally sought to give investors what they want, and increasingly, annuity customers are turning to a particular type of insurance product to get the exposure they want. Although traditional […]
New Book, The Art of Why, Illuminates Path to More Meaningful, Satisfying Life
{September 30th, 2015} by Business Wire
DENVER–(BUSINESS WIRE)–Financial professional, speaker and philanthropist Steve Luckenbach released his second book today,The Art of Why. Luckenbach draws on nearly 29 years of experience in the financial services industry to explain how personal fulfillment and setting and achieving goals come from understanding the why behind our actions. “The Art of Why is idealistic at a […]
Federal Insurance Office Supports National Annuity Suitability Standards
{September 29th, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com
WASHINGTON – The Federal Insurance Office warned unless more states adopt a national annuity suitability standard for the sale of such products and better protect consumers, federal regulators could step in, FIO said in a Sept. 28 report. In the 2015 annual report to Congress, FIO said it was concerned about the lack of uniformity […]
Nassau Reinsurance Group to Acquire The Phoenix Companies, Inc. for $37.50 Per Share in Cash
{September 29th, 2015} by Business Wire
Transaction values Phoenix at $217.2 million Nassau to contribute an additional $100 million in equity capital to Phoenix upon closing Phoenix to become Nassau’s U.S. life and annuity platform Transaction expected to close by early 2016 September 29, 2015 07:22 AM Eastern Daylight Time NEW YORK & HARTFORD, Conn–(BUSINESS WIRE)–Nassau Reinsurance […]
Best insurance companies for working mothers in 2015
{September 29th, 2015} by Jayleen R. Heft
Workplace issues like career advancement, child care, flexible work schedules, leave policies and wage equality are not just female concerns. Today, men also recognize the benefits of working for an employer that offers you the ability to be successful at work while still taking care of your family responsibilities. Hundreds of companies compete each year […]
Voya Financial Offers New Index Crediting Strategy to Diversify its Suite of Fixed Index Annuity Product Solutions
{September 29th, 2015} by PRNewswire
WINDSOR, Conn., Sept. 28, 2015 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA) announced today that it is offering customers a new index crediting strategy within the company’s Voya Secure Index series and Retirement Index Select fixed index annuity product lines. The Voya Point-to-Point Volatility Control Strategy features Deutsche Bank’s proprietary CROCI (Cash Return on Capital Invested) […]
Why advisors expect higher FIA sales next year
{September 29th, 2015} by JAMIE E. GREEN, WARREN S. HERSCH, EMILY HOLBROOK
The health of the FIA market is perhaps best judged by those who sell more product. On this score, the trend is clear: The higher the overall annuity production (all product types) among respondents polled in the survey, the more likely that advisors were to say that FIA sales increased “somewhat” or “substantially” over the […]
If It Ain’t Fixed Indexed, It’s Broken
{September 29th, 2015} by Kerry Pechter , with Annuity FYI
Fixed indexed annuities remain a niche product, representing only about 10% of annuity sales. But that the niche has grown into an almost $50 billion-a-year business. Sales of FIAs have grown especially fast at independent broker-dealers since 2013. Except for fixed indexed annuities, sales of all annuities declined in the first quarter of this year. […]
Automation, Centralization Make Inroads Into Annuity Training
{September 28th, 2015} by Cyril Tuohy
The Depository Trust and Clearing Corp. (DTCC) has been in the news as major carriers have signed on with its compliance and agent training platform. Kevin Lewis, DTCC vice president of insurance and retirement services, answers questions about recent these recent carrier moves and what they mean for agent training. Click HERE to read the […]
DELAWARE LIFE OFFERS MORE CHOICE WITH EXPANDED FIXED ANNUITY PRODUCT SUITE
{September 28th, 2015} by Delaware Life
WELLESLEY, Mass. (September 28, 2015) – Delaware Life Insurance Company has added a new offering to its fixed index annuity lineup. Delaware Life Retirement Stages 7SM Fixed Index Annuity is designed to give more conservative, retirement-focused customers principal protection and upside potential. To provide diversification and options for a variety of market conditions, Retirement Stages […]
Retiring BB&T Chief Executive Thought Insurance Move Was a ‘Crazy Idea’
{September 28th, 2015} by Renée Kiriluk-Hill, associate editor, BestWeek: renee.kiriluk-hill@ambest.com
WINSTON-SALEM, N.C. – Over the past quarter of a century, H. Wade Reece helped grow broker BB&T Insurance Holdings Inc. from $6 million to $1.71 billion in revenues. Now chairman and chief executive officer, he plans to retire at year’s end and is to be succeeded by John Howard, who was president and CEO of […]
Millenials: Forcing Change Upon our Industry
{September 28th, 2015} by Lynette Gil
An iPhone 6’s alarm is ringing in the distance. A groggy hand turns it off and proceeds to check Facebook, Twitter, SnapChat and, finally, email. After a complete catch up with technology, the young person is up and ready to tackle the world. Click HERE to read the article
What Advisors Should Know About The Aegon/Mercer Deal
{September 28th, 2015} by Linda Koco
The recent defined contribution (DC) acquisition deal between Aegon and Mercer is of more than passing interest to retirement plan professionals. That’s for several reasons. According to the companies, an affiliate of Aegon’s Transamerica unit — Transamerica Retirement Solutions — will acquire Mercer’s DC administration book of business from Mercer HR Services. Transamerica also will […]
Demand growing for fixed indexed annuities
{September 28th, 2015} by Peggy Bresnick
The market for fixed indexed annuity (FIA) is strong and rapidly growing. FIA sales increased 24 percent during the past year, rising to $48 billion in 2014, according to a recent study from the Insured Retirement Institute (IRI), 2015 Fixed Indexed Annuity Distribution Trends. The IRI study surveyed 15 broker-dealers/distributors across all third party channels […]
America Is Changing. Are Advisors Ready?
{September 28th, 2015} by ThinkAdvisor
Big shifts in the U.S. population will challenge advisors’ assumptions about planning and may well lead to a change in the demographics of their clients The American population — and with it, the advisor population — is changing. (Illustration: Dan Page Collection/The Ispot.com) In 2016, Social Security old age and disability benefits recipients will likely […]
Genworth Financial offers “aging experience” at bike race Fanfest
{September 28th, 2015} by JOHN REID BLACKWELL Richmond Times-Dispatch
Stiff joints, blurry vision, partial or full blindness, loss of balance, muffled hearing, ringing ears, difficulty speaking. Those may sound like symptoms of a rare, dreaded disease, but all are common conditions that aging brings to the human body — troublesome developments at least, and debilitating at worst. Younger, healthy people might not be able […]
Why the middle market is too important for producers to ignore
{September 25th, 2015} by Dave Dorans
Life insurance traditionally has been viewed and treated as a societal good. The relevance of the industry was evident to all as carriers helped individuals and families of all economic strata prepare for unanticipated loss. In doing this, the industry shouldered much of the burden for alleviating the financial hardships associated with the premature death of […]
Chaney Poised to Gain Fourth Term as Miss. Insurance Commissioner; Panel Rules Fall Opponent Ineligible
{September 25th, 2015} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com
JACKSON, Miss. – Mississippi Insurance Commissioner Michael Chaney will run unopposed in the general election after the state election panel ruled Reform Party candidate Johnny McLeod had failed to prove he met residency requirements. McLeod had been on the list of candidates who qualified to run during the Aug. 4 primary elections and he filed […]
Life Insurance as an Asset Class
{September 25th, 2015} by Charlie Gipple, Senior VP of Sales and Marketing, Partners Advantage Insurance Services
Life insurance can provide a financial portfolio with upside potential, reduce risk, and add some predictability through the guaranteed death benefit. When it’s structured properly, life insurance can offer a predictable value and a reliable means to transfer financial legacies through a guaranteed death benefit with market-driven growth potential and tax efficiencies. Life insurance is […]
Help spread the word about the importance of retirement planning
{September 25th, 2015} by IALC
National Save for Retirement Week is coming up on October 18-24. Join us to help Americans take action toward smart, effective retirement planning. Right now, nearly 1 in 3 of Baby Boomers have $0 saved for retirement. That’s right — absolutely no money in savings for their golden years. We’ve got to […]
For Life Insurance, Online Doesn’t Mean Cheaper
{September 25th, 2015} by LIMRA
The idea that everything is cheaper online is a common misconception When people go into a store to purchase a specific product, they often have researched to see how much the same product costs on the Internet. To make it even easier for shoppers to compare, online retailers’ mobile apps include scanners. Often, consumers find […]
Effective Communication Is Critical to Retaining Price-Sensitive Individual Life Insurance Customers
{September 24th, 2015} by PRNewswire
State Farm Ranks Highest in Life Insurance Customer Satisfaction WESTLAKE VILLAGE, Calif., Sept. 24, 2015 /PRNewswire/ — Communication plays a critical role in satisfaction with individual life insurance providers, yet at least 17 percent of customers who purchased through an agent or financial advisor have never had another interaction with their insurer since their initial purchase, […]
Zurich drops RSA bid as rising claims hit insurer’s profit
{September 23rd, 2015} by JEFFREY VÖGELI
(Bloomberg) — Zurich Insurance Group AG abandoned a 5.6 billion-pound ($8.7 billion) offer for RSA Insurance Group Plc as the Swiss company grapples with a surge in claims that will lead to a quarterly loss at its biggest unit. The biggest Swiss insurer expects a loss of $200 million at its general insurance unit in the third quarter, […]
Life Insurers Better Protected – But Not Immune To Attacks
{September 23rd, 2015} by Cyril Tuohy
How protected are life insurers from security breaches? Life insurers are more adequately protected than their health insurance and property/casualty cousins from network attacks. That’s among the findings of a survey of 43 regulated life, property/casualty and health insurers conducted in 2013-2014 by the New York Department of Financial Services (DFS). Click HERE to read […]
Bank-Owned BDs Beat Third-Party Broker-Dealers in Annuity Sales
{September 23rd, 2015} by MARGARIDA CORREIA
Bank-owned broker dealers are doing a better job selling annuities than banks and credit unions that work with third-party marketing firms, according to a new study from Kehrer Bielan Research & Consulting. In 2014, the 25 largest bank-owned broker dealers produced almost $22 billion in fixed and variable annuity sales, or 57% of the total […]
How annuities can help you sell to millennials: OPINION
{September 23rd, 2015} by Chris Bartolotta
I have a confession to make. I was born in 1986. I am a millennial. Click HERE to read
NY agent faces charges in $2.5 million life insurance scam
{September 23rd, 2015} by IFAWebNews Staff
A life insurance agent from Staten Island was arrested and charged with scamming more than a dozen senior citizens out of $2.5 million. Paul Simoneschi, 69, faces a 63-count indictment which includes charges of money laundering, scheme to defraud and criminal possession of a forged instrument. Authorities said his actions constitute as a hate crime […]
Insurance agent couple accused in $250K scam
{September 23rd, 2015} by IFAWebnews Staff
Two insurance agents from rural Minnesota have been charged with orchestrating an investment fraud scheme over the past seven years totaling $250,000. Michaela “Kim” Kruger, 57, was charged with four counts of theft by swindle and Richard A. Kruger, 57, was charged with four counts of aiding and abetting theft by swindle. The married couple […]
Former insurance agent charged in $21 million annuity, movie-making scheme
{September 23rd, 2015} by IFAwebnews Staff
A former insurance agent and an alleged accomplice have been charged with operating a Ponzi scam to defraud annuity owners out of $21 million. The Los Angeles-area duo are accused of convincing clients to cash in their annuities and invest in a bogus, elaborate movie investment scheme. Michelle Kenen Seward, 42, of Flintridge, Calif., and […]
Why Dave Ramsey’s investment advice sounds more logical than it really is
{September 23rd, 2015} by Michael Markey
Eighteen months ago, I met a wooden boat guru named Ron. He taught me a lot about my wooden boat and why chunking — when you replace only the rotted sections of wood, rather than replacing the entire plank — is dangerous. If you do this, eventually you’re left with a boat composed of many […]
6 FIA benefits to boost sales
{September 23rd, 2015} by Peggy Bresnick
Fixed indexed annuities (FIAs) can provide individuals with guaranteed principal and the possibility of earnings linked to market growth, without risking the loss of principal possible with stock market involvement. While FIAs are a great choice, not only guaranteeing principal but promising tax deferral and guaranteed lifetime income, some individuals are hesitant to consider them. […]
What We Do Matters! Message from NAFA
{September 22nd, 2015} by Chip Anderson
Those of you that have been involved with the industry for an extended period are, unfortunately, very familiar with routinely having to play defense. The industry, despite adherence to sweeping federal oversight and extensive state-by-state regulation, constantly faces renewed scrutiny. The latest of which – the Department of Labor’s fiduciary duty rule – will create […]
The widening life expectancy gap
{September 22nd, 2015} by PETER R. ORSZAG, RONALD D. LEE
(Bloomberg) — People with relatively little education and comparatively low earnings don’t live as long as those with higher levels of education and income. That much has been known for some time. But it turns out that this gap is widening significantly, and is starting to have big effects on Social Security, Medicare and other […]
Have You Thanked Your Mentor Today?
{September 21st, 2015} by Nick Gerhart
We encounter thousands of people in life. I often say that, a year from now, we still would be as we are today, but for the information we read, the people we meet, and the people we help. Knowledge, wisdom and relationships help shape and define our careers and our lives. Within the last few […]
Will FA And MYGA Sales Start Rising?
{September 21st, 2015} by Linda Koco
Traditional fixed annuities (FAs) and multi-year guaranteed annuities (MYGAs) might seem like yesteryear’s afterthought, shivering as their sales are in the shadow of the soaring fixed index annuity (FIA) sales. But it might be a mistake for annuity professionals to give these products the cold shoulder. Agreed, the industry doesn’t hear much about sales of […]
Workers Prefer A Google Search To An Advisor
{September 18th, 2015} by Cyril Tuohy
Workers looking for life, disability or dental insurance information prefer using a Google search engine to relying on a financial advisor. That’s according to the latest edition of Guardian’s Workplace Benefits Study. Half of those surveyed said they went to Google to obtain information on life, disability and dental coverage. Click HERE to view article […]
Axa hires Prudential’s Herrmann for U.S. financial protection
{September 18th, 2015} by KATHERINE CHIGLINSKY
(Bloomberg) — Axa SA named Ronald Herrmann to head its U.S. financial protection business as France’s biggest insurer seeks expansion in the world’s largest economy. Herrmann joins from Prudential Financial Inc. where he was executive vice president for distribution and sales, Axa said Thursday in a statement. He will lead the manufacturing and distribution of […]
A.M. Best Special Report: Merger and Acquisition Activity in U.S. Life/Annuity Industry Remained Elevated in First-Half 2015
{September 18th, 2015} by BUSINESS WIRE
OLDWICK, N.J.–(BUSINESS WIRE)–Global merger and acquisition (M&A) activity for the life/annuity (L/A) segment for the first six months of 2015 remained elevated but lacked the large mega-deals that made so many headlines for the property/casualty and healthcare segments. “Life/Annuity First Half 2015 Global Merger and Acquisition Trends and Analysis” According to a new Best Special […]
Former Iowa Insurance Deputy Commissioner Mumford Dies
{September 18th, 2015} by NAFA Staff
Former Iowa Insurance Deputy Commissioner Jim Mumford has passed away. Well-known for his fair and balanced approach to annuity regulation and unwavering commitment to putting consumer needs at the forefront of his decision making, the retired insurance regulator will be greatly missed by the industry at large. Mumford served as first deputy insurance commissioner for […]
A Commissioner’s View of Innovation
{September 18th, 2015} by Nick Gerhart
Many people find it intriguing that technology innovators are coming through Iowa, but Iowa is an insurance state and home to some of the largest insurance companies in the U.S. Iowa also is home to niche companies that price out very specific risks to targeted markets. In my role as Iowa’s insurance commissioner, I’ve met […]
Life insurance agents must be willing to step outside their comfort zone: BLOG
{September 17th, 2015} by Lew Nason
I find it truly amazing that most people who call us for a 15 minute consultation, become members of our site, or invest in one of our life insurance sales systems will insist on doing only what they are comfortable doing. They don’t listen or follow our recommendations, which causes them to wonder why they’re […]
A.M. Best Affirms Ratings of Western & Southern Financial Group Inc. and Its Subsidiaries
{September 17th, 2015} by Best's News Service
CONTACTS: Frank Walko Financial Analyst (908) 439-2200, ext. 5072 frank.walko@ambest.com Rosemarie Mirabella Assistant Vice President (908) 439-2200, ext. 5892 rosemarie.mirabella@ambest.com Christopher Sharkey Manager, Public Relations (908) 439-2200, ext. 5159 christopher.sharkey@ambest.com Jim Peavy Assistant Vice President, Public Relations (908) 439-2200, ext. 5644 james.peavy@ambest.com FOR IMMEDIATE RELEASE OLDWICK – SEPTEMBER 16, 2015 A.M. Best has affirmed […]
5 reasons millennials aren’t buying insurance from local agents
{September 17th, 2015} by Eric Narcisco
The purchasing habits of millennials are difficult to figure out, and as the largest generation in the U.S., your insurance business’ future depends on your ability to reach them. Revealed in a recent study commissioned by Effective Coverage and performed by ORC International, what we do know about millennials is that they aren’t likely to purchase home and renters insurance from […]
This is the biggest money worry in your state…
{September 17th, 2015} by Quentin Fottrell, Personal Finance Reporter
The financial worries that keep Americans up at night differ depending on where they live (and sleep). More than 10,000 Americans were asked to choose their “biggest financial challenge” from seven options: Planning for retirement, saving for a home, saving up an emergency fund, sticking to a budget, building an investment portfolio, paying for higher […]
Milevsky: Why retirement income products are like jars of jam
{September 17th, 2015} by Janet Levaux
There is a lot to be learned from the history of retirement income products. We need an expanded set of choices that should perhaps increase the appeal of the choices we already have,” explained York University professor Moshe Milevsky in Thursday’s keynote session of the Retirement Income Industry Association fall conference in Indianapolis. The appropriate analogy, […]
The 25 Happiest Companies To Work For In 2015
{September 17th, 2015} by Kathryn Dill
No. 22 Farmers Insurance (tie) Average salary: $41,000 Farmers Insurance Group (informally Farmers) is a U.S. insurer group of automobiles, homes and small businesses and also provides other insurance and financial services products. Farmers Insurance has more than 50,000 exclusive and independent agents and approximately 22,000 employees. Farmers’ future co-founders John C. Tyler and […]
FBL Financial Group, Inc. named to Life-Annuity Leaders List
{September 17th, 2015} by Globe Newswire
WEST DES MOINES, Iowa, Sep 17, 2015 (GLOBE NEWSWIRE via COMTEX) — FBL Financial Group, Inc. (FBL), a holding company whose insurance companies go to market as Farm Bureau Financial Services, has again been named to Conning’s Individual Life-Annuity Growth and Profit Leaders list. This is the second consecutive year FBL appears on the list […]
What type of insurance agent are you?: BLOG
{September 16th, 2015} by Andy Hickman
How about a little fun? A long while ago, I read a book called “SalesDogs.” I haven’t seen the book in years, but I recently began thinking about all the insurancepersonalities I encounter. Anyone can succeed in this business if they recognize their profile and amend their habits accordingly. Types of insurance agents I’m sure […]
Reaching the Rich
{September 16th, 2015} by John Deremo
6 ways to use life insurance strategies to target the affluent market: Click HERE to read
One America Brings RIIA Conference to Indy
{September 16th, 2015} by OneAmerica
Preeminent retirement association celebrates 10th year of unparalleled thought-leadership INDIANAPOLIS (September 15) – As title sponsor of the Retirement Income Industry Association’s (RIIA) annual conference, OneAmerica is bringing together retirement industry experts from across the country to Indianapolis this week to discuss ways to help Americans achieve greater financial security in retirement. Mapping the New Realities […]
New Principal CEO seeks to build business, community
{September 16th, 2015} by Kevin Hardy
Dan Houston was still receiving congratulatory handshakes for his promotion to Principal Financial Group’s CEO when one board member pulled him aside to ask if he had any thoughts on who might be the company’s next chief executive. That the company’s 15th CEO hadn’t even left the boardroom before being asked to consider the 16th CEO shows how Principal treats […]
Federal Roundup
{September 16th, 2015} by Cliff Andrews
The summer of 2015 will long be remembered as the “Summer of Fiduciary.” The hot humid air has returned to Washington, D.C., and along with it, a growing heated policy debate around fiduciary standards for qualified plans and IRAs. Since April, the retirement financial services sector has been engulfed by a fiduciary tsunami via a […]
IRI Issues Second-Quarter 2015 Annuity Sales Report
{September 16th, 2015} by NAFA Staff
Variable Annuity Sales Increase Sharply, VA Net Assets Approaching $2 Trillion Mark; Fixed Indexed Annuity Sales Record Second Strongest Quarter Ever The Insured Retirement Institute (IRI) today announced final second-quarter 2015 sales results for the U.S. annuity industry, based on data reported by Beacon Research and Morningstar, Inc. Industry-wide annuity sales in the second quarter […]
Larry Burton Joins ACLI As Chief Operating Officer
{September 16th, 2015} by American Council of Life Insurers
Washington, D.C. (August 17, 2015) — American Council of Life Insurers (ACLI) President and CEO Dirk Kempthorne announced today the appointment of Larry Burton as chief operating officer. He will join ACLI on August 24. Mr. Burton will coordinate ACLI’s state, federal and international advocacy and report to Governor Kempthorne. “This is a new position […]
Aegon to buy back 20 million shares as firm pays dividend
{September 16th, 2015} by KATHERINE CHIGLINSKY
(Bloomberg) — Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., plans to repurchase more than 20 million shares to help counter the effect of a stock dividend. The share buybacks will begin Sept. 16 and could be completed by Oct. 14, the Hague-based company said Tuesday in a statement. The firm said that […]
I Give a Damn About Life Insurance – You Should Too!
{September 16th, 2015} by Sheryl J. Moore
Starting out in the insurance industry 20 years ago, there was one thing that I learned quickly and that was life insurance was a necessity. Life insurance guards against the risk of dying unexpectedly. And let’s face it – we’re all going to die. For that reason alone, I thought that I should purchase life […]
Memorial set for former Deputy Insurance Commissioner Mumford
{September 16th, 2015} by Business Record News Briefs
Former Iowa insurance regulator Jim Mumford passed away Monday at the age of 78. Mumford served as first deputy insurance commissioner for the Iowa Insurance Division from 2005 until 2015. He simultaneously served as administrator of the Iowa Securities Industry & Regulated Industries Bureau for six of those years following the bureau’s combination with the […]
Voya sells life policies with $1.4 billion reserves to RGA
{September 16th, 2015} by KATHERINE CHIGLINSKY
(Bloomberg) — Voya Financial Inc., the U.S. insurer formerly owned by ING Groep NV, agreed to sell $90 billion of life policies to Reinsurance Group of America Inc. to help free up capital. The 155,000 policies are backed by about $1.4 billion in reserves, New York-based Voya said Thursday in a statement. Voya said the […]
Wink, Inc. Releases Second Quarter, 2015 Fixed Deferred Annuity Sales Results
{September 15th, 2015} by Wink, Inc
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE WINK ENHANCES SALES REPORT WITH FIXED AND MULTI-YEAR GUARANTEED ANNUITIES! Wink, Inc. Releases Second Quarter, 2015 Fixed Deferred Annuity Sales Results! Pleasant Hill, Iowa. September 15th, 2015– Wink’s Sales & Market Report is the insurance industry’s #1 resource for indexed annuity and indexed life sales data since 1997. […]
My deepest sympathy: Jim (former Iowa Insurance Regulator) was a friend and esteemed colleague
{September 15th, 2015} by Sheryl J. Moore
Jim Mumford Winterset November 5, 1936 – September 14, 2015 Jim Mumford, 78, passed away peacefully on Monday, September 14, 2015, from injuries sustained in an accident at the home he loved and loved to work on. A memorial service will be held at 10:30 a.m., Thursday, September 17, 2015, at the Jackson Building on […]
Former Iowa Insurance Regulator Mumford Dies
{September 15th, 2015} by Linda Koco
James R. Mumford, the retired Iowa insurance regulator widely known for supporting and helping advance numerous “balanced” annuity regulations and compliance initiatives, has died. Mumford was first deputy insurance commissioner in the Iowa Insurance Division from 2005 until 2015. In addition, he had served as administrator of the Iowa Securities Industry & Regulated Industries Bureau […]
The No. 1 Reason People Don’t Buy Life Insurance and Why They are Wrong
{September 15th, 2015} by NAFA Staff
“It’s too expensive!” is the common refrain when Americans are asked why they don’t get the life insurance protection they need. But—and it’s a big but—80 percent overestimate how much it costs. For the fifth year, Life Happens partnered with LIMRA to produce the Insurance Barometer Study, which looks at consumer trends and consumers’ perceptions […]
Anthem: nearly 4 in 10 Americans lack life insurance
{September 15th, 2015} by Warren S. Hersch
The lifetime odds of dying in an auto accident or from a lightning strike are much higher than the chances of winning the Mega Millions or Powerball lotteries, which odds-makers peg at 175 million to 1. Those inclined to gambling but who remain insured against the unexpected might consider this sobering fact before they book […]
New Animated Video Demystifies The Hows And Whys Of Life Insurance
{September 15th, 2015} by Insurance Information Institute
NEW YORK, Sept. 8, 2015 /PRNewswire/ — It’s Life Insurance Awareness Month (LIAM). So what better time to ask yourself a few important questions: “Why do I need life insurance?”; “what type is right for me?”; and “how much coverage should I buy?” A new, easy-to-follow animated video from the Insurance Information Institute (I.I.I.) provides answers […]
Americans value life insurance coverage, but many don’t have it
{September 15th, 2015} by Dan Cook
Three quarters of Americans believe life insurance coverage represents a critical piece of financial security. Two-thirds say it delivers peace of mind. One third tell themselves they ought to be investing more in life insurance. Yet only 49 percent actually have a life insurance policy. These are the key takeaways from a survey of more […]
Most Americans recognize wealth protection value of life insurance
{September 15th, 2015} by Warren S. Hersch
Most Americans understand that owning life insurance is key to not only replacing the income of a deceased breadwinner, but alsoprotecting a family’s wealth. Lincoln Financial Group unveils this encouraging finding in its 2015 annual M.O.O.D. (Measuring Optimism, Outlook, and Direction) of America study. The report is based on a national survey conducted by Whitman […]
Use the Power of Hollywood to Get the Life Insurance Message Out
{September 15th, 2015} by Marvin Feldman
It’s easy to participate in September’s Life Insurance Awareness Month campaign, especially with the support of celebrity spokesperson Anthony Anderson. How often do you get the power of a Hollywood star behind your business? Well, thanks to Life Happens, you’ll have just that during September’s Life Insurance Awareness Month (LIAM). Anthony Anderson, executive producer and […]
Farmers New World Life Insurance Company Introduces Farmers Index Universal Life®
{September 15th, 2015} by PR Newswire
MERCER ISLAND, Wash., Sept. 8, 2015 /PRNewswire/ — In response to consumer demand for more life insurance options that offer lifetime1 coverage with potential cash value growth, Farmers Life® has introduced the Farmers Index Universal Life policy.2 Farmers Index Universal Life combines the protection of permanent life insurance with a flexible premium3 and the opportunity for […]
A.M. Best Revises Outlook to Positive for Security Benefit Life Insurance Company and Its Affiliate
{September 15th, 2015} by Best's News Service
Oldwick – A.M. Best has revised the outlook to positive from stable and affirmed the financial strength rating of B++ (Good) and the issuer credit rating of “bbb+” of Security Benefit Life Insurance Company (Topeka, KS) and its affiliate First Security Benefit Life Insurance and Annuity Company of New York (Rye Brook, NY). The companies […]
No Flight To Safety Expected In This Downturn
{September 15th, 2015} by John Hilton
Annuity sellers might see a bump in sales from consumers fleeing the stock market after the latest gyrations, but they probably won’t see the rush to safety that they witnessed after the 2008 crash, said an annuity analyst. “Anytime we see a drop in the market, we see an increase in indexed annuity sales,” said […]
When Offering Fixed Indexed Annuities, Don’t Overlook the Accumulation Story
{September 15th, 2015} by Rod Mims
Indexed annuities emerged two decades ago as innovative accumulation vehicles. Income didn’t become a significant part of the annuity story until fairly recently, when the looming wave of retiring Baby Boomers brought it front and center. Now it’s a whole new world. Survey after survey says that income is America’s biggest retirement concern. Clients want […]
4 ways to simplify your approach to selling annuities
{September 15th, 2015} by RICH LANE AND JEFF AFFRONTI
As an advisor, your role is to bring the right products to clients, taking into consideration their current life stage and goals for the future. However, when positioning an annuity, many advisors think recommending the most robust option possible is the best approach for their clients. More often than not, theseannuity recommendations are coming with […]
Voya Financial to Sell 155K Life Policies to Reinsurance Group
{September 14th, 2015} by Linda Koco
Voya Financial Inc. says it has reached an agreement to sell, via reinsurance, an in-force block of 155,000 term life insurance policies to Reinsurance Group of America Inc. The policies represent approximately $90 billion of life insurance in force. This does not look like a carrier exit from the life insurance business. Click HERE to […]
Jeremy Brown Named President-Elect of Society of Actuaries
{September 14th, 2015} by N/A
To focus on improving financial security SCHAUMBURG, Ill., Sept. 10, 2015 — The Society of Actuaries (SOA) today announced the results of its member voting, with Jeremy J. Brown, FSA, MAAA, EA, serving as 2015-2016 President-Elect. Brown will begin his duties as the 68th SOA President at the 2016 SOA Annual Meeting and Exhibit, for […]
The real retirement fears: BLOG
{September 14th, 2015} by Bill Stutz, CLU, ChFC
I think baby boomers are starting to get the message (at least at the conceptual level) of the need and costs of addressing longevity in retirement. Just watch 60 minutes of primetime network TV – you’ll see green lines, orange money, falling dominoes and some scolding from Tommy Lee Jones. See, you know exactly what I […]
AAA: Four in Ten Illinoisans Do Not Have Life Insurance
{September 14th, 2015} by Business Wire
Life Insurance Awareness Month marks time for people to determine needs AAA Consumer Pulse Highlights (Graphic: Business Wire) September 14, 2015 02:30 AM Eastern Daylight Time AURORA, Ill.–(BUSINESS WIRE)–Most people do not like to think about their mortality, but in order to have a secure financial future for your family and loved ones, having […]
New York Life Launches Mutual Income QLAC
{September 14th, 2015} by N/A
September 14, 2015 — NEW YORK–(BUSINESS WIRE)–New York Life has launched a new income annuity, Mutual Income, designed to offer clients the opportunity to directly participate in the company’s mutual structure. Separately, New York Life has expanded its income annuity options available on tax-qualified savings. Both innovations address the growing demands of retirees and pre-retirees. “New York […]
FIA sales highest of all annuity types
{September 14th, 2015} by Peggy Bresnick
Fixed indexed annuities (FIAs) constitute the highest share of annuity revenue. This is according to a survey of 542 independent agents, career agents, independent broker-dealers, independent financial planners, independent financial professionals, wirehouse/full service broker-dealer reps and bank financial advisors who responded to an online survey sponsored by Athene. Seven in 10 respondents have sold one […]
Smaller Insurance Companies Keeping Pace Among Top 20 Carriers
{September 11th, 2015} by Linda Koco
When scoping out a life and annuity carrier as a market for possible future business, producers often start by looking at the nation’s largest carriers. Their reasoning is that these will be the most successful companies and therefore best for their clients. But a new study from Conning gives reason to cast a wider net. […]
Third annual Global Insurance Symposium scheduled for April
{September 11th, 2015} by BusinessRecord
The third annual Global Insurance Symposium will be held in Des Moines April 26-28, 2016. The symposium is designed to enhance and further the dialogue on the issues facing today’s insurance industry by bringing together insurance professionals and regulatory authorities to share insights. A planning committee consisting of Iowa’s leading insurance companies, the Iowa Insurance […]
Athene Holding names new president
{September 11th, 2015} by Business Record
Athene Holding Ltd., parent company of West Des Moines-based Athene USA, has appointed William Wheeler as president, effective Sept. 28. Wheeler, who has 28 years of insurance and financial services experience, most recently was president of MetLife Inc.’s Americas division, with responsibility for MetLife’s insurance and retirement business in the United States and Latin […]
Winnebago, American Equity Investment Life make Fortune Top 100 list for growth
{September 11th, 2015} by Business Record
Two Iowa companies made this week’s Fortune list of the 100 fastest-growing companies. Winnebago Industries Inc. made the list for the third consecutive year, coming in at 67th. The other Iowa listing was American Equity Investment Life Holding Co. of West Des Moines at No. 91. Fortune ranked companies based on their three-year profit, revenue and stock […]
Celebrate your impact
{September 11th, 2015} by Emily Holbrook
You have to work for a cause, not for profits. You have to care more about helping others than the amount of assets under management you have. You have to not let fear rule your practice. Click HERE to read article…
AXA: Angling for the cutting edge in life insurance sales
{September 10th, 2015} by Warren S. Hersch
A common criticism of life insurers is that they trail businesses in other sectors in adopting new technologies and business methods. One industry titan endeavoring to counter that perception is AXA. In February of this year, the Paris-based carrier launched a €200 million venture capital fund, AXA Strategic Ventures, to “foster entrepreneurial discovery in insurance and […]
Year-over-year indexed annuity sales down 2 percent for quarter
{September 10th, 2015} by Business Record
Total second-quarter sales of indexed annuities were $12.2 billion, up nearly 8 percent compared with first-quarter sales, but down more than 2 percent compared with second quarter 2014 sales, according to Wink’s Sales & Market Report. Fifty-two carriers participated in the report, representing 99.8 percent of indexed annuity production. Allianz Life was the leading carrier […]
Wink, Inc. Releases Second Quarter, 2015 Indexed Sales Results
{September 10th, 2015} by Wink, Inc.
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE– INDEXED SALES CONTINUE RECORD-SETTING GROWTH! Wink, Inc. Releases Second Quarter, 2015 Indexed Sales Results Pleasant Hill, Iowa. September 9TH, 2015– Fifty-two indexed annuity carriers participated in the 72nd edition of Wink’s Sales & Market Report, representing 99.8% of indexed annuity production. Total second quarter sales were $12.2 […]
5 steps to boosting revenue with deferred income annuities (DIAs)
{September 10th, 2015} by ALPESH SANGHANI
Increased longevity. The imminent retirement of the baby boomer generation. The rise of defined contribution plans and fall of defined benefit and traditional pension plans. Low yields on traditional income-producing options, such as bonds. Click HERE to read article
Gen Xers, boomers value security provided by life insurance
{September 10th, 2015} by Dan Cook
Close on the heels of a Lincoln Financial survey about the value of life insurance comes another strong vote in favor of the coverage. John Hancock tells us that, when it polled U.S. adults about attitudes toward life insurance, they received a resounding “like!” in favor of it. The John Hancock survey, based on responses […]
Nationwide Insurance Administrative Chief: $15 Minimum Hourly Wage ‘Right Thing To Do’
{September 10th, 2015} by Renée Kiriluk-Hill, associate editor, BestWeek: renee.kiriluk-hill@ambest.com
COLUMBUS, Ohio – Nationwide is the second major insurer this year to cite an improving economy and turnover as factors leading to hiking minimum hourly pay rates. Nationwide said it will raise its minimum hourly pay rate to $15 by the end of the second quarter of 2016, $1 lower than the minimum set this […]
Individual Life-Annuity Growth and Profit Leaders: A Legacy of Leaders
{September 9th, 2015} by Michael Warner, Conning Inc
Conning—Individual Life-Annuity Growth and Profit Leaders Announced (Hartford, CT) September 9, 2015—Conning, Inc. (“Conning”) releases its sixth study of successful individual life-annuity companies in three size categories with analysis of common leading company characteristics. “Our ongoing study of growth and profit leading individual life-annuity companies continues with this 2015 edition, which includes a detailed analysis […]
30 under 30: Meet the millennials who are transforming the insurance industry
{September 8th, 2015} by Lynette Gil
Their parents, boomers and some seniors, told millennials they could be anything. Great songs about the children being the future were sung back in the 80s and early 90s. With such high hopes for their future, millennials embarked down a road of immense dreams. Click HERE to view article Victoria Peterson Vice president of operations […]
FIAs Have Second-Best 2Q In History
{September 8th, 2015} by Linda Koco
Annuity carriers sold nearly $12.3 billion in fixed index annuities (FIAs) in the second quarter of this year, according to a new report from Wink Inc. Although down 2.5 percent from last year’s record-breaking second quarter, the sales outpaced the previous quarter by nearly 8 percent, the researcher said. With the exception of second quarter […]
Meals From the Heartland: Annual Hunger Fight
{September 8th, 2015} by Jamie Johnson
Wink Rock Stars volunteered at the 8th Annual Hunger Fight with Meals from the Heartland and helped package 4 MILLION meals in just FOUR DAYS! Every year, the Annual Hunger Fight has a tremendous impact on alleviating local and global hunger. The meals are distributed to food-insecure children and families by partners like Convoy of Hope, DMARC, and […]
Get Creative In Opening The Life Insurance Conversation
{September 8th, 2015} by Brad Cummins
Life Insurance Awareness Month (LIAM) is something every life insurance agent should welcome. It’s a time when you can break the silence surrounding the hard-to-talk-about subject of life insurance. Almost one-third (30 percent) of Americans believe they need more life insurance, according to LIMRA. Click HERE to view article Wink’s Note: InsuranceNewsNet articles […]
New Pa. law allows life insurance policies to be emailed
{September 8th, 2015} by IFAWebNews Staff
Pennsylvania life insurance policy owners and annuity holders will be able to receive and organize their documents by email, thanks to a new law that goes into effect on Sept. 8. Sponsored by Pennsylvania state Rep. Tina Pickett (R-Bradford/Sullivan/Susquehanna), Act 30 of 2015 was signed into law this summer by Gov. Tom Wolf. The new […]
8 uses for life insurance that most consumers are clueless about
{September 8th, 2015} by Warren S. Hersch
With Life Insurance Awareness Month now underway, advisors can look forward to an advertising and marketing blitz from the industry’s behemoths. The aim: to promote protection products to the nation’s uninformed, befuddled, uninsured and under-insured consumers. The product manufacturers have their work cut out. Click HERE to view article
Apollo-backed Athene hires MetLife’s Wheeler, fueling IPO
{September 8th, 2015} by SONALI BASAK, KATHERINE CHIGLINSKY
(Bloomberg) — Athene Holding Ltd., the insurer tied to Apollo Global Management LLC, named ex-MetLife Inc. executive William Wheeler as president as it prepares to go public. Wheeler, 54, spent 17 years at MetLife before leaving last month. He takes over at Athene on Sept. 28, the Bermuda-based insurer said Thursday in a statement. Click HERE […]
Jobs Report: Insurance Industry Growth Continues by Adding 2,300 Jobs in August
{September 8th, 2015} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com
WASHINGTON – The U.S. insurance industry added 2,300 jobs in August, according to figures released Sept. 4 by the Bureau of Labor Statistics. The seasonally adjusted 0.09% increase for July over June shows a continuation of insurance industry growth. The growth rate for August was less than the 0.36% adjusted growth rate reported for July. […]
Industrywide Annuity Sales Up 10.8% in Second Quarter
{September 8th, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com
WASHINGTON – Second-quarter industry-wide annuity sales rose 10.8% to $58.4 billion from last quarter but were still 2.5% shy of last year’s mark, according to figures from the Insured Retirement Institute. Second-quarter sales were powered by an 11.7% rise in variable annuities, to $35.6 billion, unchanged from last year. Fixed-annuity sales were up 9.5% to […]
A.M Best Affirms Ratings of American National Insurance Company and Certain Subsidiaries
{September 8th, 2015} by Best's News Service
Oldwick – A.M. Best has affirmed the financial strength rating (FSR) of A (Excellent) and the issuer credit rating (ICR) of “a+” of American National Insurance Company (ANICO) [NASDAQ:ANAT], as well as ANICO’s subsidiary, American National Life Insurance Company of New York (ANICONY) (Glenmont, NY). The ratings of ANICO have been extended to ANICONY based on […]
42 stats that explain the life insurance coverage gap
{September 8th, 2015} by Lynette Gil and Mary Shaub
There are a lot of numbers out there when it comes to life insurance buying habits. For example: 51 percent of Americans own life insurance; 80 percent of American consumers misjudge the price for term life insurance; millennials overestimate the cost by 213 percent, and generation X by 119 percent. These numbers reveal a disconnect […]
Will IULs replace FIAs? -OPINION
{September 8th, 2015} by Greg Skogsberg
More and more I am hearing people in my industry talking about how they must increase their Index Universal Life (IUL) sales because Fixed Index Annuities (FIAs) are a dying breed. Poppycock! First of all, FIAs aren’t going anywhere. Their sales continue to increase by leaps and bounds, and will continue to do so for […]
Horace Mann Educators Co. Announces $0.25 Quarterly Dividend (HMN)
{September 4th, 2015} by Doug Madison
Horace Mann Educators (NYSE:HMN) announced a quarterly dividend on Friday, September 4th, MarketBeat.Com reports. Investors of record on Wednesday, September 16th will be given a dividend of 0.25 per share on Wednesday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 3.11%. Shares of Horace Mann Educators (NYSE:HMN) traded down 1.32% during trading […]
NAIC AG49 changes bring consistency to IUL illustrations
{September 4th, 2015} by TOM DORUSKA
The National Association of Insurance Commissioners (NAIC) adopted the life insurance illustration regulation in 1995, which individual states then enacted into law. At the time the regulation was adopted, indexed universal life (IUL) had not yet been introduced to the marketplace. As a result, the current illustration guidelines that apply to the product were not […]
Work Longer Or Save More: Which Will It Be?
{September 4th, 2015} by Linda Koco
Most U.S. workers will likely stay on the job longer so they will have enough money to maintain their standard of living in retirement — unless changes can be made. Those changes could include the use of annuities. That’s what researchers at Aon Hewitt found when analyzing retirement prospects for employees at 77 large U.S. […]
Major Carriers Announce Share Buybacks
{September 3rd, 2015} by Cyril Tuohy
Major life insurance carriers have recently announced share buybacks. This is a sign that the companies are happy to use their own cash to reinvest in themselves and give shareholders a larger portion of the company and claims on future earnings. Why all the repurchase activity? Click HERE to read article Wink’s […]
Industry Groups Press NAIC On ‘Consumer Cybersecurity Bill of Rights’
{September 3rd, 2015} by Cyril Tuohy
Advocates for consumers and trade groups representing financial advisors have called on the National Association of Insurance Commissioners (NAIC) to edit and recast a proposed “Consumer Cybersecurity Bill of Rights.” The Cybersecurity Bill of Rights outlines expectations of insurers if and when carriers experience data breaches or cybersecurity lapses. The document offers remedies for consumers […]
Fixed Indexed Annuities: Todays Go-to Retirement Tool for Securing Lifetime Income
{September 3rd, 2015} by PR Newswire
OLATHE, Kan., Sept. 3, 2015 /PRNewswire-iReach/ — The number of Baby Boomers who are confident in their efforts to prepare financially for retirement has dropped nine percentage points, from 44 percent in 2011 to 35 percent in 2014, and those with little-to-no confidence in their retirement preparations jumped to 31 percent in 2014 from 22 […]
Voya takes on bigger rivals with new RIA channel
{September 3rd, 2015} by Mason Braswell
Voya Financial Inc. is casting its lot with a number of other large broker-dealers looking to capitalize on the rapid growth in fee-based business by opening a new channel aimed at advisers with their own registered investment adviser. The hybrid RIA platform, which will be open to advisers with $100 million or more in assets […]
DOL set to issue final fiduciary rule
{September 2nd, 2015} by Melanie Waddell
Even before the four-day stint of mid-August hearings at Department of Labor headquarters in Washington, Labor Secretary Tom Perez confirmed the ultimate direction that Labor would take on its fiduciary re-proposal: A final rule will be issued once the comment period expires. Officials anticipate that rule will come by May 2016. The DOL hearings were […]
Favorite Child
{September 2nd, 2015} by Ben Mattlin
Last year, overall annuity sales rose 3% to $235.8 billion, as measured by LIMRA. But sales of variable annuities fell 4% to the lowest they’ve been since 2009: $140.1 billion. The reasons for that drop are myriad, but what may be most surprising and telling is that one type of VA was an exception: the […]
Why Life Insurance Is Like A Love Letter
{September 2nd, 2015} by Cyril Tuohy
They may not exactly be love letters in the tradition of great writers — or lovers — but it’s the thought that counts. The life insurance industry has designated September as Life Insurance Awareness Month. On the occasion of this special month, which begins today, we asked agents and financial advisors to weigh in on […]
LIMRA: Individual Life Premium Up 8% In 2Q
{September 2nd, 2015} by LIMRA
WINDSOR, Conn., Aug. 31, 2015—U.S. individual life insurance new annualized premium increased 8 percent in the second quarter 2015, according to LIMRA’s Second Quarter 2015 Retail Life Insurance Sales Survey. “This was the fourth consecutive quarter of premium growth for individual life insurance. Every major product line except variable life recorded positive growth,” noted Ashley […]
Annuity ownership tied to confidence in retirement preparedness
{September 2nd, 2015} by Peggy Bresnick
The Baby Boomer generation—those who were born during the post-World War II years between 1946 and 1964—currently number approximately 75 million Americans, according to Pew Research Center. Also this year for the first time, Pew projects that the Millennial generation—those who are between ages 18 to 34 in 2015—will outnumber Baby Boomers in the U.S. […]
8 tech trends that will change how carriers do business
{September 2nd, 2015} by Melissa Hillebrand
The relationship between insurers and their policyholders is typically infrequent, fleeting and transactional. Because of this, carriers have not needed to be at the leading edge of informational technology, Deloitte says in its “Tech Trends 2015: The fusion of business and IT” report. In fact, while other businesses have migrated from legacy systems to mobile and […]
Harry Conaway Named CEO of the Employee Benefit Research Institute
{September 2nd, 2015} by EBRI
WASHINGTON—The Employee Benefit Research Institute (EBRI) is pleased to announce the appointment of Harry Conaway as its new Chief Executive Officer, effective January 1, 2016. The selection of Conaway, a leading expert on employee benefit, health and retirement issues, represents the organization’s commitment to its unique role as a “fact tank” for the public and […]
Top challenges for retirees: lack of funds, health concerns
{September 2nd, 2015} by Warren S. Hersch
Almost daily, it seems, market research units of life insurance and other financial service providers are bombarding us surveys bemoaning the woeful lack of retirement planning among Americans. Amid the statistical onslaught there are, however, hopeful signs. The latest good news: Three in four non-retirees under the age of 60 are in fact saving for […]
SECOND QUARTER 2015 INDEXED INSURANCE SALES
{September 1st, 2015} by Sheryl J. Moore
Indexed Annuity Wink’s Sales & Market Report, 2nd Quarter 2015 shows second quarter 2015 indexed annuity sales were $12,253 million, compared with sales of $12,566 million for the second quarter of 2014. Second quarter indexed annuity sales were up nearly 8% when compared to the previous quarter, and down just over 2% when compared with the […]
SECOND QUARTER 2015 FIXED ANNUITY SALES
{September 1st, 2015} by Sheryl J. Moore
Traditional Fixed Annuity Sales for the second quarter of 2015 were 2015 were $2,461 million. Given that this is the first quarter that Wink has collected data on sales of fixed annuities, comparisons will be available in future quarters. Total 2Q2015 traditional fixed annuity sales were $3,740,217,752 THE TOP TEN FIXED ANNUITY […]
Why fixed indexed annuity sales continue to grow
{September 1st, 2015} by JAMIE E. GREEN, WARREN S. HERSCH, EMILY HOLBROOK
The “Great Recession,” followed by a sustained low-interest rate environment, are just a couple of factors that have contributed to a fairly tumultuous period in the life insurance industry over the past half-decade. One bright spot within the industry, however, has been the continued robust growth of fixed indexed annuity (FIA) sales. First introduced in […]
National Suicide Prevention Week
{September 1st, 2015} by Bob Gebbia
Dear Friends, We have some real momentum going into National Suicide Prevention Week – September 6-12. We recently partnered with the Anxiety Depression Association of America and the National Action Alliance for Suicide Prevention to conduct a public opinion poll on mental health and suicide prevention, and the results are truly encouraging. Highlights include: Nearly […]
American National Life Insurance Company of New York Introduces Two New Indexed Annuities With Multiple Interest Crediting Strategies — ASIA PLUS 7 and ASIA PLUS 10
{September 1st, 2015} by American National Insurance Company
September 01, 2015 12:17 ET | Source: American National Insurance Company GLENMONT, N.Y., Sept. 1, 2015 (GLOBE NEWSWIRE) — American National Life Insurance Company of New York announces two new indexed annuity products, ASIA PLUS 7 and ASIA PLUS 10, available September 1, 2015. Each innovative annuity product provides up to six potential interest crediting strategies […]
Be careful holding insurance business conversations in public places
{September 1st, 2015} by Rosalie L. Donlon
For all the concern about privacy many people are comfortable conducting conversations about the most personal topics in public. How many times have you overheard a discussion on the subway or in an airport lounge that made you cringe? According to a survey conducted by the Pew Research Center, young adults generally seem more forgiving of […]
Pre-Retirees to Millennials: Start Saving Now
{September 1st, 2015} by New York Life
Begin putting money away while in your twenties… and put it on auto-pilot NEW YORK, Sept. 1, 2015 – Pre-retirees report a high level of confidence when their savings are on auto-pilot through automated vehicles including direct deposit into a 401k plan, a mortgage, or permanent life insurance, according to a new survey of pre-retirees […]
Protective Life to Support Life Insurance Awareness Month with Educational Outreach, Twitter Event
{September 1st, 2015} by Business Wire
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Insurance Company, a subsidiary of Protective Life Corporation, today announced it is supporting Life Insurance Awareness Month in September with a variety of educational tools delivered through its extended online channels, independent agents, ‘mommy bloggers’ and even social media events. “Research shows that individuals understand the need for life insurance. Yet […]
Buying Life Insurance Is Like Sending A Love Letter
{September 1st, 2015} by Cyril Tuohy
They may not exactly be love letters in the tradition of great writers — or lovers — but it’s the thought that counts. The life insurance industry has designated September as Life Insurance Awareness Month. On the occasion of this special month, which begins Tuesday, we asked agents and financial advisors to weigh in on […]
U.S. Individual Life Insurance Premium Improves 8% in Q2
{September 1st, 2015} by LIMRA
WINDSOR, Conn., Sept. 1, 2015—U.S. individual life insurance new annualized premium increased 8 percent in the second quarter 2015, according to LIMRA’s Second Quarter 2015 Retail Life Insurance Sales Survey. “This was the fourth consecutive quarter of premium growth for individual life insurance. Every major product line except variable life recorded positive growth,” noted Ashley […]
Storytelling: An underutilized selling skill for insurance agents
{September 1st, 2015} by Brent Kelly
Great stories agree with our world view. The best stories don’t teach people anything new. Instead, the best stories agree with what the audience already believes and makes the members of the audience feel smart and secure when reminded how right they were in the first place.” – Seth Godin As an insurance agent, there are […]
