Why Amazon is moving into finance, and what it means for advisers
{March 7th, 2018} by Ryan W. Neal
The moment many have long speculated and feared, is finally here — Amazon is entering the financial services world. As first reported by the Wall Street Journal, Amazon is in talks with large financial institutions including JP Morgan Chase to explore a new “checking-account-like product” it could offer retail customers. While the conversations are early […]
Should 401k Advisors Use Fixed Indexed Annuities?
{March 7th, 2018} by John Sullivan
It’s no secret—401k advisors aren’t exactly annuity fans. But new research from a very reputable source might have them thinking twice, and with fixed indexed annuities in particular. As a rollover option at retirement (and there was even talk of including FIAs inside the plan), Roger Ibbotson finds they control equity market risk, mitigate longevity risk and, importantly, have the […]
Will Fixed Indexed Annuities Outperform Bonds Over The Next Decade?
{March 7th, 2018} by Zebra Capital Management
March 7, 2018 (New York, NY) – Roger Ibbotson, economist and creator of the iconic “Stock, Bonds, Bills, and Inflation” (SBBI®) chart, today unveiled his latest research that analyzed the emerging potential of Fixed Indexed Annuities (FIA) as an alternative to bonds in retirement portfolios. Researched and written by Ibbotson and his team at Zebra […]
Finra unpaid arbitration increased in 2017, PIABA report finds
{March 7th, 2018} by Mark Schoeff Jr.
Lawyers representing customers in Finra arbitration released a report Wednesday asserting the number of awards that went unpaid rose in 2017, and called on the broker regulator to establish a fund to compensate investors. The study by the Public Investors Arbitration Bar Association analyzed $73 million in arbitration awards last year. Click HERE to read the full […]
Sen. Warren introduces bill targeting unpaid Finra arbitration awards
{March 7th, 2018} by Mark Schoeff Jr.
[Correction: Finra chief executive Robert W. Cook testified before a House Financial Services subcommittee in September 2017, not before the Senate Banking Committee meeting of last year referenced in this story. He was not present at that meeting.] Sen. Elizabeth Warren, D-Mass., introduced legislation Tuesday that would require Finra to create a fund to cover […]
Renowned Economist Roger Ibbotson Unveils New Research Indicating Fixed Indexed Annuities May Outperform Bonds Over the Next Decade
{March 7th, 2018} by Zebra Capital Management
NEW YORK, March 7, 2018 /PRNewswire/ — Roger Ibbotson, economist and creator of the iconic “Stock, Bonds, Bills, and Inflation” (SBBI®) chart, today unveiled his latest research that analyzed the emerging potential of Fixed Indexed Annuities (FIA) as an alternative to bonds in retirement portfolios. Researched and written by Ibbotson and his team at Zebra Capital Management, the […]
Debunking Common Annuity Misconceptions
{March 7th, 2018} by Chris Conklin
Annuities may or may not have been part of your clients’ financial planning. If not, it may be due to client misconceptions regarding the product itself. But any review of the client’s retirement-income plan provides a perfect opportunity to turn the page. Regardless of how clients obtained their inaccurate perceptions of annuities, it’s our job, […]
How Women Can Take Control of Their Retirement
{March 7th, 2018} by Transamerica Center for Retirement Studies
LOS ANGELES, March 5, 2018 /PRNewswire/ — Just 12 percent of women in the workforce are “very confident” that they will be able to someday fully retire with a lifestyle they consider comfortable, according to survey findings highlighted in Here and Now: How Women Can Take Control of Their Retirement, a report released today by […]
Insurance agent should give up $1 million received from client’s policies, judge recommends
{March 7th, 2018} by Cary Spivak and Mary Spicuzza
Saying she netted an illegal $1 million profit, former insurance agent Blanche Berenzweig should return the money she collected from a now deceased client’s estate, according to a decision by an administrative law judge now heading to the state Insurance Commissioner for action. Meanwhile, Milwaukee County Circuit Judge Marshall Murray ordered Tuesday that a trial be held this fall to […]
LifeQuotes.com Survey: February Customer Satisfaction at 98 Percent Positive
{March 7th, 2018} by LifeQuotes.com
DARIEN, Ill., March 6, 2018 /PRNewswire/ — LifeQuotes.com, the instant life insurance price comparison service that is dedicated to simplifying the life insurance buying experience, announced today that its telephone sales agents achieved a 98% positive customer satisfaction ranking in February. “We are thrilled but not surprised to have achieved these outstanding customer satisfaction results […]
Life Insurance Policy Locator finds $1.3M for Coloradans
{March 7th, 2018} by N/A
DENVER — The National Life Insurance Policy Locator is helping people find old policies they’ve been unable to find. “Policies bought in the 1950s, 60s, 70s and 80s, companies have changed hands many times,” Vincent Plymell of the Colorado Division of Insurance told Denver7. Plymell says if you heard a relative talking about life insurance, […]
OneAmerica Launches Accelerated Underwriting with iPipeline’s New Resonant Solution
{March 7th, 2018} by iPipeline®
EXTON, Pa.–(BUSINESS WIRE)–iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today announced OneAmerica®, a national leader in the insurance and financial services marketplace, has launched accelerated underwriting with iPipeline’s Resonant® New Business and Underwriting solution.Resonant is a next-generation new business and underwriting solution for all […]
For Millennials, life insurance can be a bargain not to miss
{March 7th, 2018} by Barbara Marquand
Getting married, buying a house and having kids are all good reasons to purchase life insurance. But if other financial priorities keep getting in the way, there’s an economic consideration if you’re a Millennial (no matter how much you hate being called one): Getting life insurance now is probably a lot cheaper and easier than […]
Using Life Insurance For Retirement Purposes
{March 7th, 2018} by David Kleinhandler
When people hear the words “life insurance,” they immediately turn away from even discussing the matter. But what they may not understand is that it’s an asset — there to provide a stream of cash to help fund retirement tax-free and to pay for long-term care if you become ill. The one fear we all have […]
AXA Talks More About US Life Spinoff
{March 6th, 2018} by Allison Bell
Something like the old Equitable Life Assurance Society of the United States could soon be a stand-alone company. Executives at AXA, the corporate parent of AXA Equitable, today said that they hope to spin AXA Equitable off as a separate company by June 30, if market conditions make that possible. AXA, a Paris-based financial services […]
These 3 Carriers Are Still Annuity Gorillas
{March 6th, 2018} by Allison Bell
Annuity considerations revenue at U.S. life and fraternal insurers fell 5.9% in 2017, to $238 billion, according to a new ranking table created by the National Association of Insurance Commissioners. The top three players in the market in 2016 — Jackson National, American International Group Inc., and TIAA — held on to their top rankings in 2017. Annuity considerations, […]
National Western Life Makes “Dynamic” Product Announcement
{March 6th, 2018} by National Western Life Insurance Company
AUSTIN, Texas, Feb. 28, 2018 /PRNewswire/ — National Western Life Insurance Company has announced the release of two new fixed-indexed annuities, the NWL® Core Dynamic and the NWL® Pro Dynamic, known within the company as the Dynamic series. These flexible premium products offer both fixed rate and fixed indexed-linked interest and multiple optional Guaranteed Withdrawal […]
Nippon Life Says $986 Million MassMutual Japan Deal Will Expand Group Business
{March 6th, 2018} by Best's News Service
TOKYO – Nippon Life Insurance Co. will acquire an 85.1% stake of MassMutual Japan, saying the estimated ¥104.2 billion ($986 million) cash deal should expand group and high-net-worth business and raise profits in an “ultra low-interest” rate environment. The deal furthers MassMutual’s international growth plans by “capitalizing on global opportunities, through strategic partnerships and joint […]
Nippon Life Insurance to acquire MassMutual Life
{March 6th, 2018} by Jiji Press
TOKYO (Jiji Press) — Nippon Life Insurance Co. said Friday it will purchase an 85.1 percent stake in MassMutual Life Insurance Co., a Japanese unit of U.S. insurer MassMutual Financial Group, for some ¥104.2 billion. The acquisition by the major Japanese life insurer is aimed at strengthening its insurance sales through banks and securities houses, […]
Ruark Consulting Releases Fixed Indexed Annuity Study Results
{March 6th, 2018} by Ruark Consulting
SIMSBURY, Conn.–(BUSINESS WIRE)– Ruark Consulting, LLC today released the results of its 2018 studies of fixed indexed annuity (FIA) policyholder behavior. The studies, which examine the factors driving surrender behavior and income utilization, were based on experience from 3.3 million policyholders spanning the period January, 2007 through September, 2017. A record 16 variable annuity writers […]
Life Application Activity Falls More Slowly: MIB
{March 6th, 2018} by Allison Bell
MIB Group Inc. says life insurance application activity was 2.4% lower in February than it was in February 2017. Although activity fell for the second straight month, the rate of decline was slower than in January, when the overall activity level fell 4.4%, year-over-year. Click HERE to view the original article via ThinkAdvisor. Activity fell for […]
Tensions Run High as Dodd-Frank Rollback Bill Nears Senate Vote
{March 6th, 2018} by Melanie Waddell
Tensions are running high as the Dodd-Frank rollback bill, S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, designed to deregulate the banking industry is up for a Senate vote this week. Sen. Elizabeth Warren, D-Mass., said during a Tuesday morning press briefing that the bill “increases the chances of another bailout” and […]
We Like NAFTA: U.S. Life Insurers
{March 6th, 2018} by Allison Bell
U.S. life insurers are trying to defend the North American Free Trade Act (NAFTA). The American Council of Life Insurers has joined with six other North American insurance trade groups to express support for NAFTA. NAFTA, which came into force in 1994, reduced or eliminated many of the barriers that had previously separated the economies of the United […]
NAFA: Member alert
{March 6th, 2018} by NAFA
The Board of Directors for the National Association for Fixed Annuities, NAFA, announced today that they are beginning a search for a new Executive Director. After careful consideration of the association’s long term goals, which will focus on growth, expanded advocacy and engagement on behalf of fixed annuities and the annuity industry, it was determined […]
Americans More Focused on Short-Term Savings
{March 6th, 2018} by PenFed Credit Union
TYSONS, Va., March 2, 2018 /PRNewswire-USNewswire/ — On average, adults direct 7.6% of their salary to their retirement savings. The percentage increases among households with incomes over $100,000, college graduates, men, adults with a financial advisor and adults who have automatic savings. This is one of the findings in a nationwide survey from PenFed Credit […]
Financial Advisors May Tell Women Less About Insurance
{March 6th, 2018} by Allison Bell
Financial professionals who work with women may be a lot more likely to talk to them about their investments than about other types of financial matters. Analysts at the Transamerica Center for Retirement Studies have published evidence for that possibility in a summary of results from an online survey conducted in October 2017. All of […]
AXA’s New CEO Shows How to Really Irritate Shareholders
{March 5th, 2018} by Chris Hughes
One way to upset your shareholders is to do a far bigger deal than what they thought you’d consider. To get them really fired up, you could overpay at the same time. AXA SA’s newish CEO Thomas Buberl has chosen to do both with the $15.3 billion acquisition of U.S. insurance peer XL Group Ltd. AXA didn’t […]
These 3 things may be keeping your clients up at night: BLOG
{March 5th, 2018} by Phil Caminiti
What advisers do best is help their clients with the uncertainties of their financial lives. This year has already brought more unpredictability to the table, and many Americans are wondering if they need to reassess their financial plans. Here are three topics that may be worrying your clients in 2018, and some ideas on how […]
MassMutual Class Action Trial Ends in Defense Verdict
{March 5th, 2018} by PRNewswire
IRVINE, Calif., March 2, 2018 /PRNewswire/ — A jury in Los Angeles Superior Court found [last week] that Massachusetts Mutual Life Insurance Co. (“MassMutual”) did not improperly withhold dividends from a class of hundreds of term life insurance policyholders. The jury sided with the insurer and found that the policies in question never generated enough […]
4 of the Top 5 Life Insurers Increased 2017 Revenue: NAIC
{March 5th, 2018} by Allison Bell
Four of the five biggest life and health insurers have reported solid revenue growth for 2017, according to new data from the National Association of Insurance Commissioners. Life and health groups brought in about $820 billion in life and health premiums, annuity considerations, and other life and health considerations last year, up 0.9% from the total […]
Annuities… And Other Income Tools
{March 5th, 2018} by Herbert K. Daroff, J.D., CFP, AEP
Today’s low interest rates makes it a great time to lock in interest on debt, like mortgages. However, it makes it a very bad time to lock in fixed income. An annuity, once it begins its payout period, produces level income for a period of years or for a measuring life. As the costs of […]
Fee-Based Annuity Sales, Still Low, Rise in 2017
{March 5th, 2018} by Cyril Tuohy
Fee-based variable and indexed annuities, considered critical to attracting registered investment advisors (RIA), finished 2017 with sales of $2.3 billion, or about 3.1 percent of all variable and indexed annuity sales, data show. Fee-based variable annuity (VA) sales in 2017 reached $2.2 billion, but that was still only about 2.7 percent of all VA sales […]
Oxford Life Insurance Company joins TrustedChoice.com Digital Marketing Platform
{March 2nd, 2018} by Oxford Life Insurance Company
TrustedChoice.com today welcomed Oxford Life Insurance Company (Oxford Life) to its digital marketing platform. Oxford Life is notably the first health and life insurance partner to join the TrustedChoice.com platform. The company specializes in supporting seniors with niche, top-tier insurance products that help meet their financial needs, with an emphasis on final expense whole life […]
Blueprint Income Launches with the Personal Pension, Reinventing Annuity Market
{March 2nd, 2018} by Blueprint Income
NEW YORK, March 1, 2018 /PRNewswire/ — Blueprint Income launched today, announcing a $2.75 million seed investment led by Green Visor Capital and NextView Ventures, with participation from Core Innovation Capital, Kairos, and angel investor Jean Chatzky, among others. The company’s flagship product is the Personal Pension, a guaranteed paycheck that lasts as long as you live. It’s more accessible than […]
Goldman Sachs, SocGen Said to Submit Commerzbank Unit Bids
{March 2nd, 2018} by Steven Arons, Gavin Finch, Dinesh Nair
(Bloomberg) — Goldman Sachs Group Inc. and Societe Generale SA have submitted final bids for the Commerzbank AG unit that houses the lender’s exchange-traded fund business, according to people familiar with the situation. Barclays Plc, which was said to be interested in the Equity Markets & Commodities unit, has dropped out of the process, the people said, […]
Let N.Y. Life Insurers Live: Groups to Vullo
{March 2nd, 2018} by Allison Bell
Imposing poorly written sales standards solely on life and annuity sellers in New York state could hurt the state’s life and annuity market, and on the consumers who depend on that market, 10 life and annuity groups say. Mary Griffin, president of the Life Insurance Council of New York (LICONY), and representatives from nine other financial […]
Indexed Universal Life Continues Its Hot Streak
{March 1st, 2018} by Cyril Tuohy
New premium for indexed universal life (IUL) insurance sales rose 9 percent in the fourth quarter compared with the year-ago period, and IUL new premium rose 8 percent in 2017 compared with 2016, LIMRA reported. Fourth-quarter IUL sales represented 24 percent of all individual life insurance premium compared to 21 percent in the year-ago period. […]
More Universal Life Premium COI Hikes Are Coming: Analyst
{March 1st, 2018} by Allison Bell
The big life settlement investors are expecting to see life insurers imposing more waves of universal life insurance cost-of-insurance (COI) increases. Matthew Sheridan, a consultant at QuantRes, talked about how to figure out which life insurers are most likely to ask for COI increases Monday, in New York, at a Life Insurance Settlement Association conference […]
Some speculating DOL will write new exemption based on SEC rule
{March 1st, 2018} by Nick Thornton
As the Securities and Exchange Commission continues to field comments on a uniform fiduciary standard, some stakeholders are speculating that the Labor Department could draft a new exemption to its fiduciary rule based on a best interest standard produced by the SEC. “One potential outcome of DOL’s rule is that if you satisfy SEC requirements, you then […]
How to Retire Without Running Out of Money
{March 1st, 2018} by Suzanne Woolley
Matt Carey studied Arabic at the University of Pennsylvania, preparing for what he hoped would be a career at the Central Intelligence Agency. Eleven years later, he’s pitching annuity contracts. He’s actually happy about that. A summer job at the State Department persuaded him that government service wasn’t as exciting as he first thought. So he headed to Wall […]
Five Misconceptions About Selling Final Expense Life Insurance
{March 1st, 2018} by David Duford
With 10,000 baby boomers turning 65 each day until 2030, this age group is a growing and popular market for final expense life insurance. However, with the number of television and junk mail advertising hawking “no questions asked” final expense insurance, it’s easy to understand why some life agents aren’t exactly sure whether selling final […]
The colossal risk of buying life insurance without an agent
{March 1st, 2018} by Stephen C. Burgess
More and more life insurance companies are selling their policies online these days. To a buyer, this approach has the appearance of being easy. He or she can open a web page and apply directly with the insurer. Some insurers entice with statements that imply an easy process, such as; “Everyone gets coverage,” or “For […]
Annuities may offer a security blanket in uncertain times
{March 1st, 2018} by Lee Schafer
Our friends are starting to retire, and we get to celebrate with them and hear all about their exciting plans. Yet often enough I hear about sleep-killing money anxiety, too, even from the best-prepared. Only when it happened again last weekend did I realize there’s no reason to be surprised. Americans routinely report anxiety about […]
