NAIC launches life insurance policy locator app
{August 31st, 2016} by Business Record
The National Association of Insurance Commissioners has developed a new tool to help consumers in finding lost or forgotten life insurance policies. At least $1 billion in benefits from life insurance policies are unclaimed, according to Consumer Reports. “The NAIC and state insurance departments frequently receive inquiries from people about whether a deceased loved one […]
Insurance agent earns two honors
{August 31st, 2016} by Women in Insurance and Financial Services and New York Life
Cathy K. Schmitt, Tea, received recognition from two groups for her excellence of service. She has been named to the Pearl Circle of Excellence Level by Women in Insurance and Financial Services, an organization dedicated to supporting careers of women and helping them succeed in the insurance and financial services business. In addition, Schmitt […]
American Financial Group, Inc. Announces Second Quarter Results
{August 31st, 2016} by American Financial Group, Inc.
CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) today reported 2016 second quarter net earnings attributable to shareholders of $54 million ($0.62 per share) compared to $141 million ($1.57 per share) for the 2015 second quarter. Net earnings for the quarter include a charge of $65 million ($0.73 per share) related to the exit of certain […]
The Rise and Fall of Black Wall Street
{August 31st, 2016} by ALEXIA FERNÁNDEZ CAMPBELL
On April, 3rd, 1968, Martin Luther King Jr. gave his famous “I’ve Been to the Mountaintop” speech in Memphis. In it, he urged African Americans to put their money in black-owned banks. It wasn’t his most famous line, but the message was clear: “We’ve got to strengthen black institutions. I call upon you to take […]
A DOL fiduciary rule compliance checklist
{August 30th, 2016} by John Blood
Another day, another lawsuit — or that’s how it seems since the Department of Labor adopted its new fiduciary requirements for retirement plan advisors and providers. Let’s see. In the financial sector alone, we’ve seen suits against Fidelity, American Century, Franklin Templeton, Allianz, New York Life, Cetera and others, in their role as plan sponsors or, in […]
Adjustable life insurance: Pros and cons
{August 30th, 2016} by STEPHAN R. LEIMBERG, ROBERT J. DOYLE, JR., KEITH A. BUCK
Adjustable life insurance is a “flexible premium” “adjustable death benefit” type of permanent cash value insurance. It is essentially a hybrid combination of universal life and ordinary level premium participating life insurance. In contrast with ordinary level premium, level death benefit policies and similar to universal life, adjustable life insurance gives the policyowner the flexibility to […]
The huge, untapped audience for IUL marketing
{August 30th, 2016} by GREGORY E. SCHWABE
If your prospecting is mainly with the age 55-80 group, you know it’s not what it was even a few years ago. “Almost tapped out” is the way some advisors are describing it. If your practice is feeling that pain, there’s a way to reach a broader, motivated and largely untapped audience: Consumers age 36-55. You […]
MetLife will likely spin off unit, RBC says after CFO chat
{August 30th, 2016} by Katherine Chiglinsky
(Bloomberg) — MetLife Inc. may favor a spinoff of its Brighthouse Financial U.S. business rather than pursue an initial public offering of the unit, RBC Capital Markets analysts led by Eric Berg said after chatting with the company’s chief financial officer. “A ‘spin’ would get the majority of the highly capital-markets-sensitive, and therefore volatile, retail business […]
AIG Rides Annuity Sales To Financial Success
{August 30th, 2016} by Cyril Tuohy
Nearly a decade after American International Group almost collapsed, the New York-based insurance giant has re-invented itself as the top seller of fixed and variable annuities. In the first half of the year, AIG finished in the No. 1 spot with $9.78 billion worth of individual fixed and variable annuity sales. Jackson National Life was second with $9.35 billion […]
No. 176: Annuity Churning Leads to Federal Prison Time for an Agent
{August 30th, 2016} by Joseph M. Belth
On September 14, 2016, Gary Edward Hibbing, a former insurance agent, will report to a federal prison to begin serving a sentence for actions related to the churning of annuities. The federal charges to which he pleaded guilty are wire fraud and unlawful monetary transactions, but his insurance license had been revoked earlier for, among […]
Insurance Groups Oppose Latest Insurance Data Security Model Draft
{August 30th, 2016} by Thomas Harman
SAN DIEGO – Insurance industry officials panned the latest draft of a National Association of Insurance Commissioners’ insurance data security model law, with some vowing to oppose it should it ultimately be offered as state legislation. Various industry representatives voiced their opinions to the NAIC cybersecurity task force during the NAIC Summer National Meeting. Panel […]
New Jersey Director Hartt Appointed to Represent State Regulators at FSOC
{August 30th, 2016} by Frank Klimko
SAN DIEGO – The National Association of Insurance Commissioners has appointed Peter L. Hartt, director of New Jersey’s Insurance Division, to a two-year term as the state insurance commissioner representative on the Financial Stability Oversight Council. Hartt succeeds Adam Hamm, North Dakota’s insurance commissioner, who served for one term on the federal body which oversees […]
D.C. court likely to uphold fiduciary rule in NAFA case
{August 30th, 2016} by Nick Thornton
The U.S. District Court for the District of Columbia will most likely deny the National Association for Fixed Annuities request for an injunction against the U.S. Department of Labor’s fiduciary rule, according to one legal expert. Erin Sweeney, an attorney with Miller & Chevalier Chartered, said the line of questioning from Judge Randolph Moss, a 2014 […]
Individual life insurance premium up slightly for first half of 2016
{August 29th, 2016} by LIMRA
Individual life insurance new annualized premium increased 2 percent for the first half of 2016, compared with the first six months of 2015. In the second quarter, new annualized premium was flat, according to the LIMRA U.S. Retail Individual Life Insurance Sales Survey. “A 7 percent decline in indexed universal life (IUL) stifled overallindividual life […]
Rauner signs life insurance bill
{August 27th, 2016} by Becky Yerak, Contact Reporter, Chicago Tribune
LIife insurance companies will be required to regularly check to see if their policyholders have died under legislation signed Friday by Illinois Gov. Bruce Rauner. The Unclaimed Life Insurance Benefits Act requires insurers to, among other things, run semiannual checks against the Social Security Administration’s “death master file,” which contains the records of deaths reported […]
IMOs can anticipate hurdles ahead under the DOL rule
{August 27th, 2016} by Warren S. Hersch
On August 12, LifeHealthPro chatted with Jason Smith, chief executive officer of Clarity 2 Prosperity, one of six independent marketing organizations (IMOs) seeking to become financial institutions under the best interest contract (BIC) exemption of the Department of Labor’s fiduciary rule. In this installment, we talk with Bradford Campbell, an attorney at Drinker Biddle who […]
NAFA Attorney Says Fiduciary Rule Would be ‘Catastrophic’ for Agent, Brokers
{August 27th, 2016} by Frank Klimko
WASHINGTON – The U.S. Department of Labor’s new fiduciary rule will expose independent brokers and agents to potentially expensive lawsuits from dissatisfied customers if their retirement products do not perform as they expected, creating marketwide turmoil, an industry attorney said. “What we have here is a rule that could lead to rescission that would be […]
DOL Defends Fiduciary Rule Authority to Federal Judge
{August 27th, 2016} by Ryan Rainey
The Labor Department on Thursday defended its decision to place tight new fiduciary requirements in a rule aimed at preventing retirement investment advice conflicts of interest. Lawyers for the agency argued before a federal judge in one of three federal cases in which plaintiffs seek to block the rule entirely. In oral arguments before Randolph Moss, a judge […]
Wink, Inc. Releases 2nd Quarter, 2016 Non-Variable Deferred Annuity Sales Results
{August 26th, 2016} by Wink's RockStars
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE INDEXED ANNUITY SALES FALL SHORT OF SETTING RECORD Wink, Inc. Releases 2nd Quarter, 2016 Non-Variable Deferred Annuity Sales Results Pleasant Hill, Iowa. August 26th, 2016– Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed annuity and indexed life sales data since 1997, has completed its […]
Wink, Inc. Releases Second Quarter, 2016 Indexed Life Sales Results
{August 26th, 2016} by Wink's RockStars
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE AG49’s Effects Short-Lived on Indexed Life Wink, Inc. Releases Second Quarter, 2016 Indexed Life Sales Results Pleasant Hill, Iowa. August 26, 2016– Forty-six indexed life insurance carriers participated in the 76th edition of Wink’s Sales & Market Report. Second quarter indexed universal life (IUL) sales were $441.0 […]
SECOND QUARTER 2016 INDEXED LIFE SALES
{August 26th, 2016} by Sheryl J. Moore
Indexed Life Indexed life sales for the second quarter of 2016 were $441 million, compared with sales of $458 million for the second quarter of 2015. Second quarter indexed life sales were up over 2.00% when compared with the previous quarter, and down nearly 4.00% as compared to the same period last year. Total […]
SECOND QUARTER 2016 NON-VARIABLE DEFERRED ANNUITY SALES
{August 26th, 2016} by Sheryl J. Moore
Indexed Annuity Wink’s Sales & Market Report, 2nd Quarter 2016 shows sales for the second quarter of 2016 were $15,523 million, compared with sales of $12,261 million for the second quarter of 2015. Second quarter indexed annuity sales were up more than 3.00% when compared to the previous quarter, and up nearly 28.00% when compared […]
Tough Questioning In DOL Rule Injunction Hearing
{August 26th, 2016} by John Hilton
WASHINGTON, D.C. –The motion to delay the Department of Labor’s fiduciary rule has an uphill fight, judging by the challenging line of questioning leveled at the attorney asking for the injunction. Philip D. Bartz opened the industry’s legal assault on the federal fiduciary rule Thursday with 90 minutes of tough questioning from U.S. District Court for District […]
Insurers to ‘Have Their Butts Sued Off’ Under DOL Fiduciary Rule: NAFA Lawyer
{August 26th, 2016} by ThinkAdvisor
Lawyers representing the National Association for Fixed Annuities told a U.S. District judge Thursday that individual insurance agents would be forced to become registered investment advisors under the Department of Labor’s fiduciary rule and that the current distribution system for fixed indexed annuities would have to be reworked. Judge Randolph Moss, U.S. District judge for […]
Use These Stats During Life Insurance Awareness Month
{August 25th, 2016} by Curtis Hawks
In last week’s Marketing Corner, we discussed the value of life insurance awareness month and how consumers greatly underestimate the cost of life insurance. This week we wanted to present interesting statistics that you can use as you discuss life insurance with your prospects. These stats give you insight on a variety of topics, including […]
NAIC, industry groups support MetLife in federal case
{August 25th, 2016} by Arthur D. Postal
WASHINGTON — Several industry groups, as well as state regulators, argue, in friends of the court briefs to the U.S. Court of Appeals for the D.C. Circuit, that the lower court was correct in ruling that the Financial Stability Oversight Council (FSOC) inappropriately designated MetLife as a systemically important financial institution (SIFI). Besides making their […]
Debunked: Dave Ramsey’s cash value life insurance advice
{August 25th, 2016} by Michael Markey
A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom. But the tumult soon subsides. Time makes more converts than reason.” — Thomas Paine Over 200 years ago, in his pamphlet “Common Sense,” the political philosopher Thomas Paine […]
DOL’s ‘Fiduciary Rule’ Heads to Court, and Here’s What to Expect
{August 25th, 2016} by C. Ryan Barber and Melanie Waddell
In the face of a fierce lobbying campaign, the U.S. Labor Department backed down in 2010 from a sweeping proposal to change how broker-dealers and investment advisers render advice on retirement accounts. Six years later, with that rule set to take effect next April, the fight over the so-called “fiduciary rule” is heading to court. […]
Keys to attracting millennials: fiduciary model, holistic planning
{August 24th, 2016} by LifeHealthPro Editors
Young Gen X and millennial investors demand a holistic and fiduciary approach to financial planning and appreciate the benefits of merging innovative technology with guided advice, according to new research. Jefferson National unveils this finding in a new its second annual “Advisor Authority Study.” Conducted by Harris Poll, the report surveyed 1,400 RIAs, fee-based advisors […]
‘Suitability On Steroids:’ Agent Supervision Under DOL Fiduciary Rule
{August 24th, 2016} by Cyril Tuohy
Marketing organizations that are authorized to act as financial institutions under the Department of Labor fiduciary rule are proposing new supervision frameworks for their agents. So what does this mean for independent insurance agents who sell fixed indexed annuities? The agents can expect those new frameworks to be more rigid and require stiffer due diligence. […]
How one adviser helped an Olympian make the most of his winnings
{August 24th, 2016} by Elizabeth McCourt
Every four years we get to enjoy “the thrill of victory and the agony of defeat” by watching the summer Olympic games. You don’t have to be a women’s cycling fan to ache for Dutch rider Annemiek van Vleuten as she crashed in the last leg of the woman’s road race. Nor do you have […]
6 problems solved by life insurance
{August 23rd, 2016} by Stephan R. Leimberg, Robert J. Doyle, Jr., Keith Buck
Life insurance is the only certain way to create “instant” capital. That capital, in turn, can be used by clients to solve a multiplicity of personal and business problems. To understand how life insurance can, and should, be used (the planners’ imagination, creativity, and ethical perspectives are the only major boundaries limiting the scope of […]
Bulking up: insurers’ planned staff increases at record level
{August 23rd, 2016} by Lifehealthpro Editors
Nearly two-thirds of insurance companies, among them 60 percent of life & health insurers, intend to increase staff during the next 12 months, the highest intent in the history of a study published jointly by The Jacobson Group and Ward Group. The two companies, a part of Aon Hewitt (a business unit of Aon plc), […]
Return of Premium life insurance policies solve problems
{August 23rd, 2016} by Kim Magdalein
Return of Premium (ROP) life insurance is an easy sale, especially to millennials. But the other current generations also seem to like it including Gen X-ers and even baby boomers. Affordability is what makes term insurance so easy to sell. The only distaste would come from the fact that it’s sort of like rent-a-policy. You […]
Former Oklahoma agent gets prison for annuities fraud
{August 23rd, 2016} by Kristen Beckman
A former Oklahoma insurance agent was sentenced to 27 months in federal prison for annuities-related fraud, according to the Oklahoma Insurance Department. Following an investigation, Gary Edward Hibbing, former owner of Grand Lake Investments and Insurance in Grove, Oklahoma, pleaded guilty to two counts of wire fraud and two counts of money laundering. Hibbing was […]
Slideshow IBDs with the most female reps
{August 23rd, 2016} by Michelle Zhou
Which IBDS have the most woman advisers? The percentage of female representatives in the industry has been stuck at around one-third for the past three years. But some top firms have made dramatic progress upping their game, while others have gone in the opposite direction. Triad Advisors, which took the top spot this year, was […]
Why aren’t retirement savers choosing annuities?
{August 23rd, 2016} by Marlene Y. Satter
Annuities have value beyond that recognized by workers who must depend on 401(k)s, not pensions, to get them through retirement. But because they don’t recognize that value, workers aren’t turning to annuities as a source of guaranteed lifetime income. Those are some of the findings in a brief from the Center for Retirement Research at Boston College, […]
Indexed annuity sales have best-ever quarter in Q2: Limra
{August 23rd, 2016} by Greg Iacurci
Fixed indexed annuity sales in the second quarter were the highest on record, according to Limra, as low interest rates continue to push investors away from more traditional fixed-income investment options. Click HERE to view the full story InvestmentNews articles require free registration to read. According to data from Wink Inc., another tracker […]
Firms Focusing on Fiduciary Rule Compliance While Crossing Fingers on Lawsuits
{August 23rd, 2016} by Ryan Rainey, Morning Consult
With the Labor Department’s fiduciary rule slated to take effect in April, industry opponents are hinging their hopes on stalling or blocking the regulation through three separate legal challenges. But in the meantime, they’re also planning for another possibility: full implementation of the rule. “Almost every company we’ve talked to since the rule has come […]
66% of Insurers Plan Increased Hiring Over Next Year: Study
{August 22nd, 2016} by N/A
More than 66 percent of insurance companies intend to increase staff during the next 12 months, according to a new midyear labor study. That rate is the highest in the history of the study, The U.S. Insurance Labor Outlook Study,conducted by The Jacobson Group and Ward Group. The study has been conducted since 2009. However, […]
Judge to Hear National Association for Fixed Annuities Suit Against DOL Rule
{August 22nd, 2016} by Frank Klimko
WASHINGTON – A federal judge on Aug. 25 will consider a request urging him to immediately stop implementation of the U.S. Department of Labor’s new fiduciary rule, which critics claim could initiate a cavalcade of arbitrary mandates, upending the retirement advice industry. “If the rule is allowed to go into effect, jobs will be lost, […]
DOL roundtable: Views from industry veterans
{August 20th, 2016} by Warren S. Hersch and Emily Holbrook
As we look toward 2017 and the implementation of the Department of Labor’s fiduciary standard rule, many questions remain. Though the UK and Australia have been operating under similar rules for several years, there is no clear indication of what such regulatory regime will do to the insurance and retirement advisory industry in the U.S. To […]
Update: Protective Life’s Acquisition of USWC to Expand Market Reach
{August 20th, 2016} by Renée Kiriluk-Hill
BIRMINGHAM, Ala. – (Corrects the value of the blocks acquired in January in the sixth paragraph.) Protective Life Corp. is acquiring USWC Holding Co., whose primary subsidiary offers finance and insurance products for dealers, lenders and manufacturers. Terms were not disclosed. The acquisition is expected to provide the companies with expanded market reach, enhanced product […]
Increase Financial Literacy to Achieve Financial Well-Being
{August 19th, 2016} by M.O.O.D. of America Survey
Educating parents… so they can educate their children August 19, 2016 — RADNOR, Pa.–(BUSINESS WIRE)– A panel of financial services industry and academic thought leaders, participating in an event debuting findings from Lincoln Financial Group’s (NYSE: LNC) most recent Measuring Optimism, Outlook and Direction (M.O.O.D.) of America survey, outlined actions designed to increase financial literacy, to help […]
FIAs to take a hit next year, courtesy of DOL fiduciary rule
{August 19th, 2016} by Nick Thornton
Sales of fixed indexed annuities hit $16.2 billion in the second quarter of 2016, a 30 percent increase over the same period last year and an all-time quarterly record, according to LIMRA Secure Retirement Institute. For the first half to 2016, Fixed indexed annuity sales were $31.9 billion, a 32 percent increase of the first half […]
FSOC seeks prompt arguments in MetLife case
{August 18th, 2016} by Arthur D. Postal
WASHINGTON — The government today renewed its call for prompt oral arguments in the case involving its designation of MetLife as a systemically important financial institution (SIFI), hopefully in October or “as soon thereafter as is feasible.” The March 30 decision by Judge Rosemary Collyer declaring MetLife’s designation as arbitrary and capricious “nullifies an important […]
AIG Tops Annuity Sales Chart Again
{August 18th, 2016} by Kerry Pechter
For the second consecutive quarter, AIG has reached the top of the list of annuity sellers in the U.S., with combined fixed and variable annuity sales of $9.78 billion in the first half of 2016, according to LIMRA Secure Retirement Institute, which published its Second Quarter U.S. Annuity Sales survey this week. AIG-owned annuity issuers (including American […]
Former life insurance agent gets jail, to pay $500,000 restitution
{August 18th, 2016} by IFAwebnews Staff
A former Oklahoma life insurance agent has been sentenced to 27 months in federal prison and must pay $500,000 in restitution for insurance and annuity fraud. Gary Edward Hibbing, 53, of Chino, Calif., and formerly of Grove, Okla., where he operated his elicit insurance dealings, was sentenced after pleading guilty to two counts of wire […]
Update on Lawsuits Challenging the U.S. Department of Labor’s Fiduciary Rule
{August 17th, 2016} by Proskauer Rose LLP - Russell L. Hirschhorn and Benjamin Saper
As Proskauer Rose LLP previously reported, there are five pending lawsuits challenging the U.S. Department of Labor’s new fiduciary rule. Their Client Alert on the new rule outlines the significance of the rule and the implications of the expanded definition of “fiduciary” for investment advisors and other related service providers. Written by: Proskauer Rose LLP – Russell L. […]
Fixed indexed annuities break quarterly sales record
{August 17th, 2016} by LifeHealthPro editors
According to LIMRA Secure Retirement Institute’s Second Quarter U.S. Annuity Sales survey, fixed indexed annuity sales were $16.2 billion, 30 percent higher than prior year and surpassing prior quarterly sales records. “The decline in interest rates benefited indexed annuity sales once again as consumers seek out ‘safe yield’,” said Todd Giesing, assistant research director, LIMRA Secure Retirement […]
Allianz FMO Proposes FINRA-Style Oversight of Insurance Agents
{August 17th, 2016} by Cyril Tuohy
InForce Solutions, a field marketing organization for the largest seller of fixed indexed annuities in the U.S., is proposing a similar structure used by broker-dealers as a way to supervise independent agents. Broker-dealers are registered with and supervised by the Financial Industry Regulatory Authority, or FINRA, a self-regulatory organization. The supervisory structure would allow InForce, […]
Great American Life Launches New Fixed-Indexed Annuity and Guaranteed Income Rider for Fee-Based Advisors
{August 16th, 2016} by Great American
CINCINNATI–(BUSINESS WIRE)–Great American Life® is expanding its product offerings to include a fee-based fixed-indexed annuity and optional guaranteed income rider for advisors. The Index ProtectorSM 7 fixed-indexed annuity marks Great American’s entry into the investment advisory channel. As one of the first fixed-indexed annuities to hit this emerging market, the Index Protector 7 is designed […]
The New BCA Elevate™ Fixed Indexed Annuity is a Powerful Solution for Retirement
{August 16th, 2016} by Annexus
SCOTTSDALE, Ariz., Aug. 15, 2016 (GLOBE NEWSWIRE) — Annexus, a leading designer of retirement savings and income solutions, launched the BCA ElevateTM suite of fixed indexed annuities today. BCA Elevate features exclusive access to the Merrill Lynch RPM IndexTM, which leverages the positive momentum of six global asset classes, including equities, fixed income and real […]
Financial advisors on track to implement new Department of Labor rule standards
{August 16th, 2016} by Nationwide Retirement Institute
COLUMBUS, Ohio, Aug. 11, 2016 /PRNewswire/ — A Nationwide Retirement Institute® survey released today finds the new Department of Labor (DOL) fiduciary rule has most advisors considering changes to their business model as they wait to learn their firm’s new compliance procedures. As financial advisors work to comply with the new rule, Nationwide’s Countdown to Implementation […]
NAFA Sues the DOL
{August 16th, 2016} by Cliff Andrews
Annuity Leadership Forum in D.C. a Success and Congress Attempts to Overturn President’s Veto On June 2, NAFA filed a federal lawsuit in the D.C. District Court challenging the Department of Labor’s new “fiduciary rule.” The lawsuit seeks a preliminary injunction to stay the rule, which is currently scheduled to become operational in April 2017. […]
Principle-Based Reserving To Be Implemented January 1, 2017
{August 16th, 2016} by Pam Heinrich
When the National Association of Insurance Commissioners (NAIC) adopted the revisions to the Model Standard Valuation Law (SVL – NAIC MDL #820) in 2009, it introduced a new methodology for calculating life insurance policy reserves called Principle-Based Reserving, or PBR. According to the American Academy of Actuaries, which worked closely with the NAIC to develop […]
Potential Changes to Fixed Annuity Product Designs After Implementation of the DOL Fiduciary Rule
{August 16th, 2016} by Harry Stout
The life insurance industry is now contemplating what it must do to implement the final DOL fiduciary rule (“the rule”). The April 10, 2017 date is known, circled on most calendars and the race is on to comply with the 1,023 page rule by that date. Most organizations are doing their planning, assuming there will […]
The New Language of Permanent Life Insurance
{August 16th, 2016} by Annuity Outlook Staff
Research reveals a better way to engage with consumers so they won’t “turn off” when life insurance is discussed. This issue of Annuity Outlook magazine article excerpts an AXA White Paper: The New Language of Permanent Life Insurance, based on positioning and messaging research by Maslansky + Partners. Life insurance sales have never been easy, […]
DOL fiduciary rule: On a collision course with the law?
{August 16th, 2016} by Warren S. Hersch
If the Department of Labor’s final fiduciary rule were an infrastructure project, perhaps the best analogy would be to a catastrophically leaky dam. Like their peers in the civil engineering world, insurance and financial services experts assessing the legal foundations of the DOL’s hole-ridden edifice — a 1,000-plus-page document that stretches definitions, makes new jurisdictional […]
Cash value accumulation test or guideline premium test: a comparison
{August 16th, 2016} by Bruce Guillemette, Christian Kaplan
As life insurance products evolved, particularly in the early 1980s, with the advent of universal life (UL) insurance characterized by flexible premiums, other client considerations came to the forefront. Should permanent life insurance products be designed to emphasize pure death benefit protection or pure accumulation? Death-benefit-focused products have more “levelized” costs, i.e., a shallower expense curve, […]
MetLife goes for broke in latest SIFI case filing
{August 16th, 2016} by Arthur D. Postal
WASHINGTON — “There is no reasonable possibility” that material financial distress at MetLife would ever pose a threat to the financial stability of the United States, the company argued in a filing to an appeals court on Monday. The brief was filed in the U.S. Court of Appeals for the D.C. Circuit as MetLife continued […]
When clients can’t afford to retire
{August 16th, 2016} by Miriam Rozen
A recent study by HSBC shows that 40% of Americans are unable to retire until their 70s, and an unlucky 20% are unable to retire ever. A survey by Willis Towers Watson corroborates that finding, showing that about one in four U.S. employees think that they won’t be able to retire until after 70, and […]
Consumer groups reject DOL lawsuits
{August 15th, 2016} by Arthur D. Postal
WASHINGTON — Three consumer groups are asking a D.C. federal court to deny a trade group’s request for an injunction that would bar the Department of Labor (DOL) from implementing its fiduciary standard rule next April, pending further legal proceedings. The friend of the court brief was filed by Better Markets, Inc., Consumer Federation of […]
Advisors may revamp their practices in wake of DOL rule
{August 15th, 2016} by LifeHealthPro Editors
The new Department of Labor (DOL) fiduciary rule has most advisors considering changes to their business model as they wait to learn their firm’s new compliance procedures, according to a new survey. Nationwide disclosed this finding in its “Countdown to Implementation” study of 622 financial advisors representing a mix of distribution channels, tenure and production. […]
Court tosses fraud complaint against former investment adviser Dick Van Dyke
{August 15th, 2016} by Tim Landi
An Illinois appeals court has ruled that state regulators overstepped their authority in 2013 when they accused Springfield financial adviser Dick Van Dyke of fraudulently marketing retirement products to older clients. In a unanimous opinion handed down last week, three justices of the Fourth District Appellate Court in Springfield found that the Illinois Department of […]
Unchartered waters: Why this IMO is seeking FI status under DOL rule
{August 15th, 2016} by Warren S. Hersch
Since the Department of Labor handed down its fiduciary rule, the industry has been abuzz about the outlook for insurance-only producers who sell fixed indexed annuities through independent marketing organizations. The reason: The rule doesn’t include IMOs in its definition of a “financial institution.” The FI categorization has traditionally been reserved for broker-dealers, insurers and […]
Be Proactive with Objections – Understanding Fee Products VS. Spread Products
{August 15th, 2016} by Tom Henga
As we embark into new horizons in the insurance industry and potential regulatory changes, we consistently need to remind ourselves the reason we act as financial advisors. For many of us, we want to make a positive impact on our clients’ lives so they enjoy a happy and successful retirement. Unfortunately, there are many who […]
IMOs take on enhanced sales role under the new DOL rule
{August 15th, 2016} by Arthur D. Postal
WASHINGTON — An historic reluctance to deal with federal regulators is apparently slowing the ability of the insurance industry to properly comply with the Department of Labor’s new fiduciary standard as of the April 2017 deadline. At stake is the ability of independent agents to maintain the current momentum of hot-selling fixed index annuities(FIAs) into retirement […]
3 must-have digital technologies for today’s insurance agents
{August 13th, 2016} by Justin Brown
As the world moves rapidly toward internet- and mobile-based means of advertising and lead generation, the insurance industry is following suit, but perhaps more slowly than other major business categories. Today, only one-third of independent insurance agents in the U.S. have structured programs in-place for online lead generation, according to Quote Wizard, a digital insurance […]
Annuities as an RMD answer: navigating potential pitfalls
{August 12th, 2016} by William H. Brynes, Robert Bloink
While many advisors have counseled against purchasing an annuity with IRA funds in the past, in today’s post-recession world, there are a variety of valid reasons why a client may be interested in the annuity-within-an-IRA strategy. However, as with any retirement income planning strategy, the pitfalls associated with a poorly executed annuity purchase strategy can cause […]
The time is now to start prospecting life insurance online: Opinion
{August 11th, 2016} by Jeff Root
Life insurance agents should be marketing online because that’s where potential customers are spending their time and getting their information. According to a LIMRA report, 85 percent of consumers research life insurance online before purchasing a policy, and close to 50 percent of the people who bought life insurance in 2015 did so online or […]
S&P 500, Dow, Nasdaq all hit record highs
{August 11th, 2016} by Rita Nazareth, Joseph Ciolli
(Bloomberg) — All three U.S. stock benchmarks hit record highs for the first time since Dec. 31, 1999, amid surprisingly strong earnings announcements. Meanwhile, across the pond, European shares erased the slump that followed Britain’s secession vote. The S&P 500, Dow and Nasdaq indexes all advanced amid better-than-forecast profits at retailers Macy’s and Kohl’s. Europe’s […]
Indexed annuity sales projected to plummet 30% because of DOL fiduciary rule
{August 10th, 2016} by Greg Iacurci
Fixed indexed annuity sales are projected to decline 30% to 35% next year due to a new Labor Department rule raising investment advice in retirement accounts, according to Limra, signaling the disruptive power the regulation will have on insurance companies and product distributors. Click HERE for the full story. InvestmentNews articles may require […]
4 onboarding tech features to help insurers compete and win
{August 10th, 2016} by Dean Hodge
To succeed in today’s competitive insurance marketplace, companies must manage growth, handle change effectively and balance multiple priorities. Agents and agency channel partners are playing an increasingly important role for insurance companies, which are facing sustained growth rates of approximately 10 percent per year, according to Bureau of Labor Statistics projections. At the same time, […]
Danica Patrick Has Got Your Back During LIAM
{August 10th, 2016} by Marvin Feldman
At Life Happens, we’re doing things a bit differently this year for Life Insurance Awareness Month (LIAM) in September. We want people to take stock of the risk they’re taking by not protecting their loved ones with life insurance. To help us get that message out, we’re pleased to have professional race car driver Danica […]
MassMutual ‘Leaning Toward’ BD Channel Sales
{August 10th, 2016} by Cyril Tuohy
MassMutual Financial Group is “leaning toward” selling financial products into retirement accounts through broker-dealers to satisfy new Department of Labor fiduciary rules. Companies are busy deciding how to sell popular products such as fixed indexed annuities under the new DOL rules, which start taking effect in April. Analysts say banks and broker-dealers could take business […]
Planning Around The Myths of Life Insurance
{August 10th, 2016} by Greg Riedel and Sean Scaturro
Quite often, your clients are objecting for all the wrong reasons With increased health care costs and the rising costs of living and investment volatility, your clients are facing more challenges and are equipped with fewer resources to count on to meet their long term goals. Given these challenges, a complete financial planning picture should […]
20 wealthiest U.S. Olympic athletes in Rio
{August 9th, 2016} by Kristen Beckman
The world’s best athletes are gathering in Rio de Janeiro in hopes of bringing home gold during the 2016 Summer Olympics. For many of these gifted athletes, competition is a labor of love that takes more than it gives in terms of finances. But ever since the Olympics allowed professional athletes to compete, many of […]
A.M. Best Affirms A+ Rating of North American Company for Life and Health Insurance
{August 9th, 2016} by North American Company for Life and Health Insurance
CHICAGO, IL–(Marketwired – August 09, 2016) – A. M. Best has affirmed the A+ (Superior) rating North American Company for Life and Health Insurance®, a member company of Sammons® Financial Group. Additionally, the outlook for this rating was called stable. In its statement, A. M. Best cited Sammons Financial Group’s “prominent market positions in the […]
Feeling anxious? Here are the top 4 concerns of advisors
{August 9th, 2016} by LifeHealthPro Editors
Managing market volatility continues to be advisors’ top concern according to new research. Eaton Vance Distributors discloses this finding in its “Advisor Top-of-Mind Index (ATOMIX), a quarterly survey of 1,000 U.S. financial advisors. The index calculates a weighted average of current perceptions (40 percent of the index) and what advisors think about the trends (60 […]
#FirstSevenJobs
{August 9th, 2016} by Jamie Johnson
Last week, Twitter user @mariancall asked her followers, “What were your first seven jobs?” and the hashtag #FirstSevenJobs took off. Entrepreneur staff writer Lydia Belanger picked up the story and writes “Everyone has to start somewhere.” It’s inspiring to see the zig zagging that others took on the path to success. It’s also fun to reminisce […]
Life Insurance Activity Continues Growth In July
{August 9th, 2016} by MIB Life Index
Braintree, MA. (August 8, 2016) — U.S. application activity for individually underwritten life insurance was up 2.0% in July year-over-year, all ages combined, according to the MIB Life Index. The index value for the MIB Life Index, 7 months YTD is 84.44―levels not seen for the industry since summer 2008. July’s percent change is conservatively […]
American Equity Committed to FIA Market
{August 9th, 2016} by Cyril Tuohy
The CEO of American Equity Investment Life Holding moved Thursday to reassure distributors and investors that the company has no plans to abandon the fixed indexed annuity business, which is on track to close $60 billion in sales this year. Executives with the Iowa-based company earlier this year raised doubts about whether the company, the […]
American Financial: DOL Rule Will Have Greatest Impact On Nonregistered Reps
{August 9th, 2016} by Cyril Tuohy
The Department of Labor’s new rule raising investment advice standards into retirement accounts will have the greatest impact on non-registered retail representatives. That’s the word from a top executive with American Financial Group. But sales by nonregistered reps through the retail channel represented only about 10 percent of American Financial’s annuity sales in the second […]
6 IMOs Apply for ‘Financial Institution’ Status Under DOL Rule
{August 9th, 2016} by Cyril Tuohy
Six independent marketing organizations, or IMOs, have applied to the Department of Labor’s Office of Exemption Determinations to become a “financial institution.” Earning the designation would clear the path for independent insurance agents to sell commission-based insurance and financial products under the Labor Department’s Best Interest Contract Exemption, or BICE. A financial institution seal-of-approval from […]
Four Insurers Agree to Pay States $3.4 Million in Death Master File Settlement Agreements
{August 8th, 2016} by Thomas Harman
TALLAHASSEE, Fla. – Four more life insurance companies will pay $3.4 million to five states as part of a settlement involving the Social Security Administration’s Death Master File database to search for policyholder beneficiaries. Hartford Fire & Casualty Group will pay $2.1 million, Securian will pay $625,000; Great American will pay $400,000, and Standard will […]
INVESTING Invest Like a Billionaire (If You Are One): Editorial
{August 8th, 2016} by Barry Ritholtz
Sell everything! That seems to be the advice coming from the moneyed set these days. Not just one or two cranky billionaires, but many of them; Warren Buffett seems to be a notable exception. In a commentary sent to clients last week, Nick Colas, chief strategist at Convergex, pointed out that “many of the smartest […]
Nationwide to debut new ad campaign during Olympics
{August 8th, 2016} by News Briefs, Business Record
Nationwide will launch a new advertising campaign tonight during NBC’s broadcast of the opening ceremony of the Summer Olympics, featuring Grammy Award-winning superstar Brad Paisley and multiplatinum pop artist Rachel Platten, best known for her hits “Fight Song” and “Stand by You.” The new campaign, “Song for All Your Sides,” is designed to highlight […]
Built to last: tips for preventing life insurance failure
{August 5th, 2016} by Ed Slott
Life insurance is a promise that must be kept. The essence of life insurance is that it’s not a gamble or wager. It’s a guarantee, as opposed to other investments that cannot provide that certainty. This is why an essential part of any life insurance plan is to make sure it lasts. Every insurance professional should have a plan in place […]
What’s the good news, ladies? Women who are changing the industry: Opinion
{August 5th, 2016} by Susan L. Combs
With so much negativity in the world these days, I often find myself actively searching for the “good stuff” and celebrating those who share this information with me. I recently caught up with my friend and colleague, Emily Viner, VP of Agency Growth & Development for Guardian, and we were discussing Guardian’s study on closing […]
FBL Financial reports second-quarter earnings
{August 5th, 2016} by News Brief
FBL Financial Group Inc. on Thursday reported second-quarter net income of $24.4 million, or 97 cents per share, compared with $32.4 million, or $1.29 per share, for the second quarter of 2015. Premiums collected in the second quarter of 2016 totaled $186.9 million, compared with $158.1 million a year ago. Annuity premiums collected increased 43 […]
CEO: MetLife’s Plan to Lower Expenses by 11% to Include Job Cuts
{August 5th, 2016} by Marie Suszynski
NEW YORK – With a goal of lowering expenses by 11%, MetLife Inc. said it plans to cut jobs as the company moves closer to separating its U.S. retail business, the company’s chief executive officer said. MetLife is targeting $1 billion in pretax run-rate expense savings by the end of 2019, which will improve the […]
Genworth jumps 27% as securities sale, mortgage unit fuel profit
{August 4th, 2016} by Katherine Chiglinsky
(Bloomberg) — Genworth Financial Inc. posted its biggest intraday gain since 2009 after reporting a second-straight quarterly profit as Chief Executive Officer Tom McInerney reshapes the insurer to rebound from losses on long-term care coverage. The insurer rose 74 cents, or 27 percent, to $3.49 at 9:37 a.m. in New York, narrowing its loss for the […]
MetLife Net Falls 90% on Review of Annuities Slated for Exit
{August 4th, 2016} by Katherine Chiglinsky
MetLife Inc., the largest U.S. life insurer, said second-quarter profit tumbled 90 percent on a review of the prospects of a variable-annuity business that Chief Executive Officer Steve Kandarian is seeking to exit. The stock declined in extended trading. Net income dropped to $110 million from $1.12 billion a year earlier, the New York-based company […]
American Equity Reports Second Quarter 2016 Results
{August 4th, 2016} by American Equity
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities, today reported second quarter 2016 net income of $14.7 million, or $0.18 per diluted common share, compared to net income of $82.8 million, or $1.05 per diluted common share, for second quarter 2015. Operating income1 for […]
Prudential annuities, retirement solutions earnings dip in Q2
{August 4th, 2016} by Lifehealthpro Editors
Prudential Financial’s earnings dipped by 52 percent in the second quarter compared to the year-ago period, the company disclosed in its latest earnings statement. Prudential reported net income of $921 million ($2.04 per common share) for the second quarter of 2016, compared to $1.406 billion ($3.03 per common share) for the year-ago quarter. After-tax adjusted […]
Prudential Financial, Inc. announces second quarter 2016 results
{August 4th, 2016} by Prudential Financial
Net income attributable to Prudential Financial, Inc. for second quarter 2016 of $921 million, or $2.04 per Common share, compared to $3.03 per Common share for year-ago quarter. After-tax adjusted operating income of $829 million, or $1.84 per Common share, compared to $2.91 per Common share for year-ago quarter. Significant items in the Quarter The […]
The Future of Financial Planning: Still More Digitization, But Humans Won’t Disappear
{August 4th, 2016} by Kerry Pechter, with AnnuityFYI
(EDITOR’S NOTE: Robo-advisors theoretically threaten the future of traditional advisors because their services cost less. But there is still a place for traditional firms: Adopt more technology, but keep human interaction in the picture, even, in some cases, if only to help clients better navigate a firm’s website.)The brains of financial advisors who attended the […]
Trent Richardson says family, friends spent $1.6 million of his money in 10 months
{August 4th, 2016} by Mark Inabinett | minabinett@al.com
On March 12, 2015, the Indianapolis Colts released running back Trent Richardson. Seven months later, after being cut by the Oakland Raiders at the end of training camp and without an NFL team for the 2015 season, the former Alabama All-American took a close look at his finances for the first time. What he found, among other […]
DOL rule could erase indexed annuity gains next year
{August 4th, 2016} by LifeHealthPro Editors
LIMRA Secure Retirement Institute forecasts a 15-20 percent increase in retail indexed annuity sales in 2016, compared with 2015 results. “For eight consecutive years, indexed annuities have enjoyed significant growth. Based on current sales trends, existing economic conditions and the imminent regulatory changes, we expect indexed annuity sales to accelerate in the second half of the […]
Top Selling Indexed ULs of All Time, 2015
{August 4th, 2016} by Jamie Johnson
We began tracking the individual product sales of indexed universal life (IUL) products in the second quarter of 2008. We recently updated our annual “Top Selling Indexed ULs of All Time” chart to reflect IUL sales through 2015. Minnesota Life’s Eclipse Indexed Life took over the title of the “Top Selling IUL of All Time” with […]
Futurity First Financial acquires nationwide annuity IMO
{August 3rd, 2016} by Kristen Beckman
Independent insurance distribution company Futurity First Financial Corp. has acquired M3 Financial, a nationwide annuity indepedent marketing organization based in New York City. Founded in 2007 by Mike Bartolotta, M3 Financial focuses on annuity and life insurance distribution, particularly fixed and fixed indexed annuities. Bartolotta will remain with the company as president of M3 Financial. […]
Back To The Future: A Comeback for Mutual Insurance?
{August 3rd, 2016} by Swiss Re
02 August 2016 — Zurich — The mutual insurance sector has undergone a modest recovery in recent years, says Swiss Re’s latest sigma report “Mutual insurance in the 21st century: back to the future?” Mutual insurers’ share of the overall insurance market increased from 24% of direct premiums written in 2007 to just over 26% in 2014, […]
Fidelity & Guaranty Life Reports Fiscal Third Quarter 2016 Results
{August 3rd, 2016} by PR Newswire
DES MOINES, Iowa, Aug. 2, 2016 /PRNewswire/ — Fidelity & Guaranty Life (NYSE: FGL), a leading provider of annuities and life insurance, today reported net income of $10 million or $0.16 per diluted common share for the fiscal third quarter of 2016 ended on June 30, 2016(1). The Company reported adjusted operating income of $48 million, or […]
Women insurers see inroads on gender equality
{August 3rd, 2016} by Mark A. Hofmann
In a survey conducted in conjunction with the Insurance Industry Charitable Foundation’s 2016 Women in Insurance Conference Series last month, more than four out of five women say the industry is making progress toward gender equality. When asked whether they agreed with the statement “strides to achieve gender equality are being made in the insurance […]
Vantis Life Insurance Launches America’s Easiest-to-Sell Annuity
{August 3rd, 2016} by Vantis Life
Freedom” Series has Simple Features and a Solid, Guaranteed Rate WINDSOR, Conn., July 28, 2016 /PRNewswire/ — With consumers more and more skittish about the stock market, and Department of Labor (DOL) rules weighing on agents and distribution outlets, Vantis Life Insurance Company has a solution. The company today announced that it now is offering TaxSaver […]
Insurance Companies Could Help Fuel ETF Industry Growth
{August 3rd, 2016} by Max Chen
Insurance companies are slowly including exchange traded funds in their general accounts as a way to lower costs and to easily access high-quality assets. “Insurance companies only hold 1.3% of their surplus as regards policyholders in ETFs, but usage has become prevalent and is likely to increase given the wide array of low-cost passive products […]
Banks, B/Ds To Overtake Independent Agents In FIA Sales
{August 2nd, 2016} by Cyril Tuohy
Banks and insurance broker/dealers will overtake the independent agent channel in selling fixed indexed annuities “likely someday.” That’s according to the CEO of American Equity Life, a top FIA seller. FIAs, which have recorded torrid sales recently, are sold mostly through independent agents. However, with Department of Labor regulators raising investment advice standards, FIAs will […]
Principal Financial CEO: DOL Fiduciary Rule Change Price Tag Is $1 Million Per Month
{August 2nd, 2016} by Best's News Service
DES MOINES, Iowa – The U.S. Department of Labor’s fiduciary rule update is expected to cost Principal Financial Group Inc. an additional $1 million a month over the next 18 to 24 months, the company’s chief executive officer estimated. Once the rule is fully implemented, the annual operational cost associated with it is expected to […]
Now about my obscene commissions…
{August 2nd, 2016} by Stephen Kelley
I recently read a column about annuities on Forbes.com that is fairly typical of the trashing most media types and “fee-only” advisers like to dish. As is frequently the case, it was filled with lots of hyperbole and character attacks on annuities and the insurance companies and agents who sell them. I believe this to be […]
Indexed Annuity Sales To Exceed $60B In 2016
{August 2nd, 2016} by Limra
WINDSOR, Conn., Aug. 2, 2016—LIMRA Secure Retirement Institute forecasts a 15-20 percent increase in retail indexed annuity sales in 2016, compared with 2015 results. “For eight consecutive years, indexed annuities have enjoyed significant growth. Based on current sales trends, existing economic conditions and the imminent regulatory changes, we expect indexed annuity sales to accelerate in […]
DOL Rule Sets Up Compensation Minefield
{August 2nd, 2016} by John Hilton
The Department of Labor fiduciary rule was published nearly four months ago, but analysts say broker-dealers and their advisors still don’t fully understand how compensation is affected. The rule requires anyone working with retirement funds to act in the best interest of their clients. That means “conflicted” compensation, like trail commissions and trips to Cancun, […]
Allianz Life Awards $275,000 in Grants to Local Nonprofits Supporting Financial Literacy
{August 2nd, 2016} by Allianz Life
MINNEAPOLIS–(BUSINESS WIRE)– Allianz Life Insurance Company of North America (Allianz Life®) announced today that is has awarded $275,000 in financial literacy grants, ranging from $10,000 to $25,000, to 14 nonprofit organizations in the Twin Cities. Since 2010, the Allianz Life financial literacy grant program has distributed more than $1.6 million. Grant recipients will use the […]
10 Things You Didn’t Know About the DOL’s New Rule
{August 2nd, 2016} by Carolyn Rose Kick
In the wake of the DOL’s announcement of the new fiduciary rule, many advisors were left asking–how is it going to effect me? Check out 10 things you didn’t know about the DOL’s new rule. 1. It doesn’t start immediately. The rule includes a “delayed implementation clause” which gives firms plenty of time to prepare […]
On the rebound in 2016: Mutual life insurers
{August 2nd, 2016} by Lifehealthpro Editors
The mutual insurance sector has undergone a modest recovery in recent years, yielding gains in direct premiums written. So reports Swiss Re in its latest sigma study, “Mutual insurance in the 21st century: back to the future?” Mutual insurers’ share of the insurance market increased to 26 percent of direct premiums written in 2014 from […]
Millennials mooch off their parents now but plan to support them financially later
{August 2nd, 2016} by Polly Mosendz
At the end of a trip home to see the family, even an employed millennial is occasionally slipped some cash from a loving, if somewhat concerned, parent. But in a couple years, many of those on the receiving end expect those roles to be reversed. Laden with student debt and mounting credit card bills, some millennials currently rely on relatives […]
What’s behind the surge in fixed indexed annuity sales?
{August 2nd, 2016} by Andrew Murdoch, CFP
Sales trends in annuities may be markedly different at the start of 2018 — less than 1.5 years away — when new Department of Labor regulations kick in regarding the way retirement investments are sold. Judging from unusually brisk sales of one particular kind of annuity — fixed indexed annuities (FIAs) — that is likely to be a […]
Broker-Dealers Embrace DOL’s Best Interest Contract Exemption
{August 1st, 2016} by ThinkAdvisor
Despite the flurry of lawsuits that have followed the release of the final Department of Labor (DOL) fiduciary rule, some insurance carriers are coming to terms with the new regime and have announced plans to comply with the seemingly burdensome rules. Particularly, several insurance carriers with affiliated broker-dealer networks have indicated that they will attempt […]
NAIC Life Insurance and Annuities (A) Committee Adopts Revisions to Actuarial Guideline 49
{August 1st, 2016} by Sutherland Asbill & Brennan LLP
USA August 1 2016 On July 27, 2016, the Life Insurance and Annuities (A) Committee adopted revisions to Actuarial Guideline 49 (AG 49) to address situations where indexed universal life (IUL) insurance policies make available multiple index account options with different account charges (the dual account issue). The IUL Illustration (A) Subgroup of the Life […]
4 Key Ways Whole Life Insurance Differs From Term Life Insurance: Blog
{August 1st, 2016} by Barbara Marquand
Whether it’s better to buy term life or whole life is one of the most asked questions about life insurance. The answer depends on your needs, though, and before picking a policy, you should understand the differences. Here are the four main ways whole life insurance differs from term life. 1. Whole life insurance is […]
American National Life Insurance Company of New York Introduces an Industry Leading Guaranteed Universal Life Policy with a Guaranteed Cash-Out Option – Signature Guaranteed Universal Life Insurance
{August 1st, 2016} by American National Life Insurance Company of New York
GLENMONT, N.Y., Aug. 01, 2016 (GLOBE NEWSWIRE) — American National Life Insurance Company of New York (NASDAQ:ANAT) (American National) is proud to announce that a new product, the Signature Guaranteed Universal Life Insurance, is available in New York [August 1, 2016]. This industry leading, innovative life product can provide guaranteed lifetime protection along with the […]
Does your client have the right type of life insurance?
{August 1st, 2016} by STEPHAN R. LEIMBERG, ROBERT J. DOYLE, JR., KEITH A. BUCK
Attorneys, accountants, life insurance agents, and other financial services professionals constantly are required to provide an opinion as to the efficacy of a policy for the particular client and to assist in selecting between competing policies. When it comes to evaluating life insurance products, above all, the goal always should be to match the product to […]
