7 New Peeks Inside Annuity Issuers’ Curtains
{August 7th, 2018} by Allison Bell
Some U.S. annuity issuers did well in the first quarter, and some “faced headwinds.” Earnings turbulence continued in the second quarter. Ameriprise Financial Inc. started the second-quarter earnings release season more than a week ago, by jumping into the cold earnings release season water and announcing higher earnings, higher revenue, and a mix of good and bad […]
Making Insurance and Annuities Fun. My Industry Chat with Sheryl Moore
{August 7th, 2018} by Mark Williams
I was delighted to have the opportunity to sit down with Sheryl Moore, president and CEO of Moore Market Intelligence and Wink, Inc. Annuities and Life Insurance Consulting. Sheryl and her team have a superior reputation providing competitive intelligence, market research and product development, and their competitive intelligence tools have become an essential service for […]
Principal Announces Second Quarter 2018 Results
{August 7th, 2018} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) today announced results for second quarter 2018 Net income attributable to PFG for second quarter 2018 increased 48 percent to $456.6 million, compared to $309.5 million for second quarter 2017. Net income per diluted share of $1.58 for second quarter 2018 compared to $1.06 in prior year quarter. The […]
Allianz Life’s Chasing Retirement Study Finds Half of Retirement Savers Are “Chasers” Who Are Behind on Savings Goals
{August 7th, 2018} by Allianz Life Insurance Company of North America
MINNEAPOLIS–(BUSINESS WIRE)–Although 90% of active retirement savers agree that accumulating enough savings is an important factor in their ability to enjoy their future retirement, a significant subset of these Americans is worried they’re already too far behind to reach their savings goals. According to the Chasing Retirement Study* from Allianz Life Insurance Company of North America […]
Pacific Life Launches Transformed Website for Consumers
{August 7th, 2018} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life announced today the launch of its newly transformed company website, PacificLife.com. The site will help guide consumers through their unique financial “life goals,” offer educational content on relevant topics through an “Insights” series, share customer stories and financial calculators, and highlight revised, consumer-friendly product categories and information in a more interactive, […]
The Standard Offers Clients Indexed Crediting Choices With New Annuity Design
{August 7th, 2018} by The Standard
PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company (The Standard) today announced the launch of its enhanced Index Select Annuity, a single-premium, deferred index annuity that credits interest based on the performance of the S&P 500 index. The Standard’s Index Select Annuity offers clients a choice of surrender charge periods, including five-, seven- and 10-year options. Clients can also […]
MetLife Announces Second Quarter 2018 Results
{August 7th, 2018} by MetLife, Inc.
NEW YORK–(BUSINESS WIRE)–MetLife, Inc. (NYSE:MET) today announced its results for the second quarter ended June 30, 2018. Second Quarter Results Summary Net income of $845 million, compared to net income of $865 million in the second quarter of 2017. On a per share basis, net income of $0.83, compared to net income of $0.80 in the prior-year period. […]
Lincoln Financial Group Reports Second Quarter 2018 Results
{August 7th, 2018} by Lincoln Financial Group
August 01, 2018 04:15 PM Eastern Daylight Time RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the second quarter of 2018 of $385 million, or $1.70 per diluted share available to common stockholders, compared to net income in the second quarter of 2017 of $411 million, or $1.81 per diluted share […]
Prudential Financial, Inc. Announces Second Quarter 2018 Results
{August 7th, 2018} by Prudential Financial
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU): Net income attributable to Prudential Financial of $197 million or $0.46 per Common share versus $491 million or $1.12 per share for year-ago quarter. After-tax adjusted operating income of $1.298 billion or $3.01 per Common share versus $919 million or $2.09 per share for year-ago quarter. Notable items […]
A.M. Best Affirms Credit Ratings of Ohio National Financial Services, Inc. and Its Subsidiaries
{August 7th, 2018} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of The Ohio National Life Insurance Company and its wholly owned subsidiary, Ohio National Life Assurance Corporation (together referred to as the Ohio National Life Group). These companies are the principal insurance subsidiaries of Ohio National Financial Services, […]
Mutual of Omaha Introduces Long-Term Care Rider
{August 7th, 2018} by United of Omaha
OMAHA, Neb.–(BUSINESS WIRE)–United of Omaha, a Mutual of Omaha company, has introduced a new solution to help meet customers’ long-term care (LTC) planning needs. The company recently launched a Long-Term Care Rider on its Income Advantage and Life Protection Advantage Indexed Universal Life policies. Since 1987, traditional long-term care insurance has been – and continues […]
A.M. Best Comments on Credit Ratings of CNO Financial Group, Inc. and Its Life/Health Subsidiaries Following Announced Transactio
{August 7th, 2018} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has commented that the Credit Ratings (ratings) of CNO Financial Group, Inc. (CNO Financial) (headquartered in Carmel, IN) [NYSE:CNO] and its life/health subsidiaries remain unchanged following the Aug. 1, 2018 announcement that Bankers Life and Casualty Company (Bankers Life), a wholly owned subsidiary of CNO Financial, has entered into an agreement to cede all of its legacy […]
Athene Holding Ltd. Reports Second Quarter 2018 Results
{August 7th, 2018} by Athene Holding Ltd.
PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd. (“Athene”) (NYSE: ATH), a leading provider of retirement savings products, today announced financial results for the second quarter 2018. Net income for the second quarter 2018 was $264 million, or $1.33 per diluted Class A share (“diluted share”), compared to net income for the second quarter 2017 of $326 million, or […]
Eagle Life Announces New Five-Year Product
{August 7th, 2018} by Eagle Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–Eagle Life Insurance Company®, a leading annuity provider that specializes in safe, innovative retirement options, announces the addition of a five-year fixed index annuity product. The all-new Eagle Select® Focus 5 is a safe-money alternative designed for clients who desire both safety of principal and growth potential. The new product joins a […]
FBL Financial Group Reports Second Quarter 2018 Results
{August 7th, 2018} by FBL Financial Group
WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG): Financial Highlights (Dollars in thousands, except per share data) Three months ended June 30, 2018 2017 Net income attributable to FBL Financial Group $ 32,428 $ 32,291 Non-GAAP operating income(1) […]
Voya Financial Announces Second-Quarter 2018 Results
{August 7th, 2018} by Voya
NEW YORK–(BUSINESS WIRE)–Voya Financial, Inc. (NYSE: VOYA) today announced financial results for the second quarter of 2018. “Our second-quarter results demonstrate our commitment to growth, operational excellence and continued good stewardship of shareholder capital,” said Rodney O. Martin, Jr., chairman and CEO, Voya Financial, Inc. “A top priority for us this year was closing the […]
Canadian Pension Board Arm Agrees to Reinsure Big CNO LTCI Block
{August 7th, 2018} by Allison Bell
CNO Financial Group Inc. today announced a deal that could be a sign that at least some long-term care insurance (LTCI) issuers will have an easier time disposing of unwanted blocks of LTCI business. Wilton Re has agreed to assume responsibility for a large block of old LTCI policies written by CNO’s Bankers Life and Casualty […]
The Most Googled Financial Questions, by State
{August 7th, 2018} by Michael Fischer
Becoming financially literate goes a long way toward achieving financial security, and Google is increasingly facilitating this process for many Americans. Whether it’s financing a new home or worrying about losing one to foreclosure, paying for higher education, saving for retirement, wondering how interest rates work or trying to make ends meet, people need knowledge […]
CNO Financial Group Reports Second Quarter 2018 Results
{August 7th, 2018} by CNO Financial Group
CARMEL, Ind., Aug. 1, 2018 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that net income for the second quarter 2018 increased to $102.2 million, or 61 cents per diluted share, compared to $83.4 million, or 48 centsper diluted share, in the second quarter of 2017. CNO also announced that second quarter 2018 net operating income (1) increased to $81.9 million, or 49 […]
NAFA to Continue Search for New President/CEO
{August 7th, 2018} by NAFA
Washington, D.C. (August 1, 2018) – The Board of Directors for NAFA, the National Association for Fixed Annuities, announced yesterday that it is continuing the search for a new President/CEO. 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 […]
IRS Ruling Could Saddle Multinational Life Insurers With Big Tax Bills
{August 7th, 2018} by Allison Bell
The Internal Revenue Service has made a decision that could increase the 2017 income tax bills of U.S. life insurers that control life insurance companies in other countries. The IRS ruled last week that those companies will have to include the cash in their foreign life insurance subsidiaries when they’re calculating how much they owe […]
These Regulators and Firms Are Bogus, SEC Warns
{August 7th, 2018} by Melanie Waddell
Anti Cyber Crime & Financial, Department of Financial Regulators, Office of Financial Affairs, Department of Law and Public Safety — these are just several bogus financial regulators that the Securities and Exchange Commission on Monday warned investors do not exist. Included in the long list of fake regulators is also a list just as long […]
AIG Reports Second Quarter 2018 Results
{August 7th, 2018} by AIG
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE:AIG) today reported net income of $937 million, or $1.02 per diluted share, for the second quarter of 2018, compared to net income of $1.1 billion, or $1.19 per diluted share, in the prior-year quarter. Adjusted after-tax income was $961 million, or $1.05 per diluted share, for the second […]
Lincoln Financial Network Recognized by InvestmentNews for Diversity and Inclusion
{August 7th, 2018} by Lincoln Financial Network
PHILADELPHIA–(BUSINESS WIRE)–Lincoln Financial Network (LFN), the retail wealth management division of Lincoln Financial Group (NYSE: LNC), announced today that it has been recognized by InvestmentNews in its inaugural Excellence in Diversity and Inclusion Award program. LFN was awarded honorable mention in the Diversity Champion category for its promotion of diversity and inclusion among employees, advancement of women in […]
Brighthouse Financial Announces Second Quarter 2018 Results
{August 7th, 2018} by Brighthouse Financial, Inc.
CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial”) (Nasdaq: BHF) announced today its financial results for the second quarter ended June 30, 2018. Second Quarter 2018 Results The company reported a net loss available to shareholders of $239 million in the second quarter of 2018, or $2.01 on a per share basis, compared to net income available […]
Global Atlantic Subsidiary Only Preneed Insurer Named to Ward’s 50® List of Top Life Companies for Nine Consecutive Years
{August 7th, 2018} by Global Atlantic Financial Group
INDIANAPOLIS–(BUSINESS WIRE)–Global Atlantic Financial Group’s Forethought Life Insurance Company subsidiary has been named by Ward’s 50® as a top life and health insurance company for the ninth consecutive year. No other preneed carrier has been named to the list each of the last nine years. The Ward Group is an Aon Hewitt company and the leading […]
A.M. Best Affirms Credit Ratings of Sammons Financial Group, Inc. and Its Subsidiaries
{August 7th, 2018} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of Midland National Life Insurance Company (Midland National) and North American Company for Life and Health Insurance (North American) (both domiciled in West Des Moines, IA). In addition, A.M. Best has affirmed the Long-Term ICR of “a-” […]
American Equity Reports Second Quarter 2018 Results
{August 7th, 2018} 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 2018 net income of $93.9 million, or $1.03 per diluted common share, compared to net income of $26.9 million, or $0.30 per diluted common share, for second quarter 2017. Non-GAAP operating income1 for […]
Fixed Annuity Group Still Looking for a President
{August 7th, 2018} by Allison Bell
The National Association for Fixed Annuities is still out looking for a new president and chief executive officer. Chip Anderson, NAFA’s executive director, announced plans to retire this past spring, after helping to lead members’ successful efforts to fight the U.S. Department of Labor’s fiduciary rule. Anderson took over as the group’s executive director in 2015, […]
Eagle Life, Standardard Add Index Annuities
{August 7th, 2018} by Allison Bell
Two life insurers are launching indexed annuities with talk about clarity. Eagle Life Insurance Company and Standard Insurance Company say their contracts are easy for consumers to understand. Here’s a look at the two contracts. Click HERE to view the original article via ThinkAdvisor. Eagle Life Eagle Life is a West Des Moines, Iowa-based American Equity […]
Chief Diversity Officer crowned a champion of global diversity
{August 7th, 2018} by New York Life
Kathleen Navarro, Vice President and Chief Diversity Officer, was named among DiversityGlobal Magazine’s Top 10 Champions of Global Diversity. The magazine’s award recognizes global leaders who are striving to advance Diversity & Inclusion (D&I) within their organizations in all geographic locations, and through their influence, promote diversity and inclusion in their communities of operation or in general […]
‘Financial Comedian’ Jeff Kreisler on How to Maximize Retirement Savings
{August 7th, 2018} by Jane Wollman Rusoff
Put clients in the right frame of mind for retirement planning by connecting them emotionally to their future, older selves. Well, that’s tough since most folks think of their future selves as virtually separate people. So says behavioral economics specialist Jeff Kreisler in an interview with ThinkAdvisor. Still, the co-writer of famed Duke University professor […]
United States: U.S. Tax Court Finds Captive Insurer Is Not An “Insurance Company” Under The Internal Revenue Code
{August 7th, 2018} by Jeanne Kohler
In this case, Reserve Mechanical Corp. (“Reserve”), a captive insurer incorporated under the laws of Anguilla, sued the Commissioner of Internal Revenue in the U.S. Tax Court regarding the Commissioner’s findings of $477,261 in deficiencies in Reserve’s federal income tax for the tax years 2008 through 2010. During those years, 100% of Reserve’s stock was […]
Elizabeth Warren: Worried about broker conflicts? The SEC isn’t: Opinion
{August 7th, 2018} by Elizabeth Warren, Bloomberg News
Your lawyer can’t take money from your opponent to give you bad legal advice. If you’re on Medicare, your doctor can’t take kickbacks from drug manufacturers for prescribing their drugs. But, under current law, your broker-dealer can receive monetary rewards and other perks for recommending certain investment products, even if those products aren’t in your […]
Showdown Looms Over NY Push To Add Life Insurance To NAIC Rule
{August 6th, 2018} by John Hilton
BOSTON — New York and California officials previewed a looming showdown today by pushing for life insurance to be added to an annuity sales rule model law. A National Association of Insurance Commissioners’ annuity working group is hashing out the details of a sales rule that will apply to annuities only. The group declared life […]
4 Risks consumers need to know about DNA testing kit results and buying life insurance
{August 5th, 2018} by Kelly Song
Life insurance is all about risk — the insurer assesses a policy based on likelihood of mortality, and the consumer is charged a premium rate based on complex actuarial tables. But the boom in direct-to-consumer DNA testing kits such as those offered by Google-backed 23andMe, can now give consumers a peek into a future that […]
WealthVest Increases Workforce with Eight Wholesaling Positions into East and West Coasts, Southern States, Rocky Mountain Region and Hawaii
{August 5th, 2018} by WealtVest
BOZEMAN, MONT. (PRWEB) AUGUST 05, 2018 WealthVest exemplifies face-to-face wholesaling with market experience and consumer value as the industry leader in fixed and fixed index annuities. Regional Consultant, Nate King, is assigned to Florida and has been helping financial advisors grow their practice for more than five years with a background in fixed, fixed index […]
FP50 2018: Which IBDs made the most in annuity sales?
{August 4th, 2018} by Tobias Salinger
The largest independent broker-dealers’ combined annuity sales have fallen each of the past three years, but the products still make up nearly one-sixth of their business. Total annuities revenue across the 50 largest IBDs participating in Financial Planning’s annual FP50 survey of the industry dropped 10% last year to $4.4 billion. The products constituted 17% of their more than […]
Carriers Reshape Indexed UL While Variable UL Sales Heat Up
{August 4th, 2018} by Cyril Tuohy
Life insurers are wasting no time tweaking their indexed universal life line-ups to take advantage of a fast-selling segment. First-quarter sales of indexed universal life rose 12 percent to $486 million compared to the year-ago period. Click HERE to read the full story via INN; subscription required.
Colorado Bankers Life Insurance Company Notified Employees, Producers, Advisors, and Policyholders of Security Inciden
{August 3rd, 2018} by Colorado Bankers Life Insurance Company
DURHAM, N.C., Aug. 3, 2018 /PRNewswire/ — Colorado Bankers Life Insurance Company (“CBLife“) values the relationship it has with its employees, producers, advisors, and policyholders and understands the importance of protecting personal information. On June 20, 2018, CBLife completed its investigation of a data security incident that involved a targeted phishing attack that compromised some of its employees’ cloud-based […]
Lincoln’s Annuity Sales Surge 50% on New Products, Wider Distribution
{August 3rd, 2018} by Jay Cooper
Lincoln said total annuity sales soared 50% to $3 billion in the second quarter from a year earlier, propelled by new products and broader distribution. Variable annuity sales were up 30% from 2017 and fixed-annuity sales increased 136% over the same period. Click HERE to read the full story via Life Annuity Specialist; subscription required.
ONEAMERICA® TAPS INDIVIDUAL LIFE VETERANS FOR STRATEGIC LEADERSHIP ROLES
{August 3rd, 2018} by OneAmerica
Deep market knowledge positions teams for further growth INDIANAPOLIS, July 25, 2018 — OneAmerica® today announced new expanded roles for two experienced Individual Life and Financial Services leaders. Chris Coudret will lead distribution and market strategy for all individual life products, and Tracey Edgar will lead sales and distribution for Care Solutions asset-based long-term care […]
SEC Reg BI Stricter Than Fiduciary, Will Cause Brokers to Flee: Peirce
{August 3rd, 2018} by Melanie Waddell
The Securities and Exchange Commission’s proposed Regulation Best Interest, or Reg BI, for brokers is a “more stringent” standard than the fiduciary standard outlined in the agency’s proposed interpretation for advisors, and could “exacerbate” the trend of brokers fleeing Financial Industry Regulatory Authority oversight, according to SEC Commissioner Hester Peirce. In a July 24 speech […]
Direct mail triggers more consumers to recognize they need life insurance
{August 2nd, 2018} by Insurance Forums Staff
Good news for the U.S. Postal Service! A new LIMRA study finds 23% of consumers say receiving a direct mailer sparks recognition they need life insurance. This is the most influential method, ahead of speaking to a financial professional (15%), talking with friends and family (15%), and information received by email or at work (10% […]
Interesting industry facts and figures from new NAIC report
{August 2nd, 2018} by Brian Anderson
How many licensed producers are there in the U.S.? How many domestic insurers are there, and how does that number compare to recent years? What states levy the most fines and suspend or revoke the most producer licenses? The answers to all these questions and many more facts and figures can be found in the […]
CORRECTED-UPDATE 1-Insurer Prudential misses profit estimates on weaker annuities income
{August 2nd, 2018} by Reuters Staff
(Corrects to 31 from 40 in third paragraph, adds “pre-tax” in sixth paragraph, corrects last paragraph to say MetLife is one of the largest U.S. life insurers, not the largest by assets.) Aug 1(Reuters) – Prudential Financial Inc on Wednesday missed Wall Street estimates for quarterly profit, hurt by weaker results at its annuities business. […]
RetireOne Grows Platform to Include Solutions from Allianz Life to Help Advisors Create Retirement Income Streams for Clients
{August 2nd, 2018} by Aria Retirement Solutions
SAN FRANCISCO, Aug. 1, 2018 /PRNewswire/ — RetireOne adds two new solutions to the platform this month as RIAs and Fee-Based advisors look for alternative ways to meet client income needs, manage risk and navigate a rising rate environment. New additions include principal protection options from Allianz Life that allow for some upward market participation, while offering some measure of […]
Global Life Insurance Market Size, Sales, Growth Drivers, Opportunities, Industry Trends and Forecast to 2025
{August 2nd, 2018} by sambit.k
The Life Insurance Market Report provides thorough backdrop investigation of Life Insurance business, with an evaluation of the previous years. The Life Insurance Market Reports provides data on Life Insurance patterns and improvements, and target business sectors and materials, limits and advancements. The report broadly provides the market size, share, trends, growth and forecasts to 2025. This report analyses […]
A.M. Best Removes From Under Review With Developing Implications and Affirms Credit Ratings of Genworth Financial, Inc. and Its Affiliates
{August 2nd, 2018} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of Genworth Life and Annuity Insurance Company (GLAIC) (Richmond, VA). Concurrently, A.M. Best has removed from under review with developing implications and affirmed the FSR of […]
A.M. Best Affirms Credit Ratings of New York Life Insurance Company and Its Subsidiaries
{August 2nd, 2018} by A.M. Best
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aaa” of New York Life Insurance Company and its wholly owned subsidiary, New York Life Insurance and AnnuityCorporation (collectively referred to as New York Life). Additionally, A.M. Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) on the funding […]
Voya gives investors back $2 million under SEC order
{August 2nd, 2018} by InvestmentNews
The Securities and Exchange Commission has terminated a disgorgement fund set up by Voya Investments to reimburse investors in certain Voya mutual funds. Click HERE to read the full story via InvestmentNews; registration required.
United States: NYDFS Adopts “Best Interest” Standard For Sellers Of Life Insurance And Annuity Products
{August 2nd, 2018} by Steven D. Lofchie
The New York Department of Financial Services (“DFS”) adopted a final rule that establishes a “best interest standard” for sellers of life insurance and annuity products. As previously covered, the rule will require an agent or broker (or an insurer, if there is no agent or broker involved) to “act in the best interest of the consumer.” In accordance with […]
New Lifetime Withdrawal Rider Offers Creative Withdrawal Option
{August 2nd, 2018} by Cyril Tuohy
A variable annuity policyholder typically collects guaranteed lifetime withdrawal benefits from an insurer when the account value drains to zero, but a new annuity rider allows insurers to start those payments even if there’s money still left in the account. This is an industry first, according to Sammons Retirement Solutions. Sammons began distributing the LiveWell […]
Knighthead Annuity Hires Robert Chan as VP, Business Development
{August 2nd, 2018} by Knighthead Annuity
GEORGE TOWN, Cayman Islands, July 30, 2018 (GLOBE NEWSWIRE) — Knighthead Annuity and Life Assurance Company is proud to announce and welcome Robert Chan as Vice President, Business Development. Mr. Chan has over 15 years of experience in the financial services industry. He has been a top producer at firms such as Wells Fargo Private […]
United States: In The Duty Of Care Race, The NAIC Is In The Chase With New Proposed Revisions To Its Annuity Suitability Model
{August 2nd, 2018} by Ann Young Black, Jamie Bigayer, and Adriana A. Perez
On July 24, in preparation for its August 4 meeting at the NAIC 2018 Summer National Meeting, the Annuity Suitability (A) Working Group (the “Suitability WG”) peddled fast and released a working draft of proposed revisions (the “Summer Meeting Suitability Draft”) to the Suitability in Annuity Transactions Model Regulation(#275) (the “Suitability Model”). Of note, the Summer […]
‘Freedom’ is the key to Sammons’ new variable annuity
{August 2nd, 2018} by Editorial Staff
The unique feature is the Freedom Date,’ said Bill Lowe, CEO of Sammons Retirement Solutions. ‘If you buy this at age 60, at age 80 you have 100% access to the accumulation value without negatively affecting the lifetime payment account.’ What makes a skeptical advisor sit up and notice a new variable annuity contract? Three […]
Life Insurers’ Favorite Bonds Should Be Fine: S&P
{August 2nd, 2018} by Allison Bell
There are a lot of BBB-rated corporate bonds out there, but investing in them should be fine. Diana Vazza and other S&P Global analysts come to that conclusion in a new report on BBB-rated corporate debt. BBB-rated debt has been making up a growing share of corporate debt, in part because life insurers and other safety-conscious […]
Ameriprise Execs Describe Ideal Annuity and LTCI Suitors
{August 2nd, 2018} by Allison Bell
There are a lot of BBB-rated corporate bonds out there, but investing in them should be fine. Diana Vazza and other S&P Global analysts come to that conclusion in a new report on BBB-rated corporate debt. BBB-rated debt has been making up a growing share of corporate debt, in part because life insurers and other safety-conscious […]
Bank Broker/Dealer Advisor Headcount Slipped Last Year; Coverage of the Opportunity is Thinning Out
{August 2nd, 2018} by Tim Kehrer, Kehrer Bielan Research & Consulting and Marc Vosen, Midwood Financial
Although the typical advisor in a bank-owned broker/dealer produced more revenue last year than the prior year, there were slightly fewer of them working in bank branches and second-story offices. That was one of the key findings in this year’s Kehrer Bielan Bank Broker/Dealer Survey, released this month. The number of bank B/D-affiliated advisors was […]
Concerns Over SEC’s Proposed ‘Regulation Best Interest’ Rain Down; Lobbying Intensifies
{August 2nd, 2018} by Rich Lane
The 90-day window for public comment on the Securities and Exchange Commission’s advice-reform proposal is scheduled to close on August 7, barring an extension. Given the scope of new paperwork that could arise, and the need to test these sample disclosure forms out on the public at large, it’s not a stretch to think the […]
‘Raise Your Voice’ Campaign Pushes for SEC Reg BI Changes
{August 2nd, 2018} by Melanie Waddell
Editor’s note: This article first appeared in Human Capital, a newsletter by Washington Bureau Chief Melanie Waddell about the people who shape the financial regulatory space. This week’s Human Capital spotlights the chorus of industry practitioners who are calling on their fellow advisors to raise their voices and tell the Securities and Exchange Commission in […]
Meet Edward Jones’ FA With the Most AUM
{August 2nd, 2018} by Jane Wollman Rusoff
Edward Jones has 16,000 financial advisors nationwide, more than any other firm. Meet the company’s No. 1 FA, who, with more than $1 billion in AUM, manages more client assets than any other rep it employs. A Gen X Texas native who began as a trainee 18 years ago, Edward Jones’ top advisor happens, by […]
5 Risks That Any Issuer of an Indexed Annuity GWMB Rider Has to Think About
{August 2nd, 2018} by Allison Bell
Life insurance company risk managers spend their nights tossing and turning so their annuity holders can sleep soundly. Aaron Sarfatti, head of Strategy for Life, retirement and wealth at AXA Equitable, talked about some of the risks facing issuers of variable annuities, indexed annuities, and other products recently at the Insurance Summit, an event that […]
What to Do When Your Term Life Insurance Is Expiring
{August 1st, 2018} by Kimberly Lankford
In an ideal world, you buy life insurance when your kids are young or you’ve purchased your first home, and you need the coverage only for about 20 years. By the time your policy nears the end of its term, your kids are on their own, your house is mostly paid off, and you’ve accumulated […]
Remembering Tony Garcia: Lessons on Life and Leadership
{August 1st, 2018} by Russell Evans
Like so many others, I was heartbroken to learn of the untimely passing of Tony Garcia this past Friday. While I know Tony from his time as Foresters Financial President and CEO, he also touched many lives as President of Western and Southern Financial Group and as President and CEO of TIAA-CREF Life Insurance Company. I was fortunate enough to […]
The Best Fixed Annuities Available In 2018
{August 1st, 2018} by Matt Carey
In a world where fewer people are covered by pensions, simple fixed annuities are increasingly important. But they are also hard to find. Most financial advisors who are compensated based on assets under management tend to not recommend them. And insurance agents generally prefer to sell more complicated, market-linked, higher commission products. Fixed annuities are insurance […]
NAIC To Tangle Over Annuity Sales Regs At Boston Meeting
{August 1st, 2018} by John Hilton
A group of state insurance commissioners will gather in Boston Saturday and again attempt to reach a consensus on a controversial annuity sales model law. The Annuity Suitability Working Group will pick up where it left off June 1 at the conclusion of a special meeting in Kansas City. Click HERE to read the full […]
Global Atlantic receives Excellence Award for Linked Loan option
{August 1st, 2018} by Global Atlantic Financial Group
Global Atlantic’s traditional life team won Wink’s 2017 Excellence in Life Insurance Innovation Award for the Linked Loan option available on Lifetime Builder ELITE and Lifetime Foundation ELITE. The Linked Loan gives clients a new choice when accessing their accumulated cash value. Rather than having to choose between a fixed rate loan or a variable […]
