Compare Variable Annuities With Non-Guaranteed Portfolios: Idea File
{February 6th, 2019} by Allison Bell
Hedgeness Inc. has an idea: Offer insurers, financial professionals, and others interested in variable annuities a data analysis tool they can use to compare existing annuity contracts with one other; existing contracts with hypothetical contracts; and real contracts with the performance of investment portfolios that come without any guarantees. The Chicago-based company is already using the tool […]
Labor Department Reports Insurance Industry Gained 2,000 Jobs in January
{February 5th, 2019} by Best's News Service
WASHINGTON – The insurance industry gained 2,000 jobs in January over December, an increase of 7% even as the overall unemployment rate edged up, according to preliminary figures from the U.S. Labor Department’s Bureau of Labor Statistics. On an annual basis, overall insurance industry employment for January 2019 was 2,704,100, a preliminary increase of 32,300 […]
Generation Next
{February 5th, 2019} by Kate Smith
Of the 50 chief executive officer searches The Jacobson Group has done in the past four years, each was to replace a baby boomer. “Literally, all have been the result of retirement,” Greg Jacobson, co-CEO of The Jacobson Group, said. It’s a trend that’s bound to continue. And it’s also a trend that could prove […]
Life Insurance or Life Invasion?
{February 5th, 2019} by David Wilken
Consumers like discounts — there’s no secret about that. And consumers shopping for insurance are no exception. Our recent survey revealed that nine out of 10 consumers (92 percent) would be motivated to maintain a specific weight level, and four out of five (81 percent) would be more likely to have an annual checkup, if […]
The Impact of Cognitive Decline on Families’ Finances: RBC Survey
{February 5th, 2019} by Emily Zulz
As cognitive decline becomes an increasingly significant part of Americans’ lives, it is having a massive impact on families’ finances, according to a new study from RBC Wealth Management- U.S. According to the Alzheimer’s Association, 5.7 million Americans are living with Alzheimer’s disease, a figure that is expected to reach 14 million by 2050. As […]
Finra exams to probe compliance with elder abuse rules
{February 5th, 2019} by Greg Iacurci
Finra examinations will soon start probing broker-dealers’ compliance with new rules issued a year ago that are meant to protect elderly clients from financial abuse and exploitation. Click HERE to read the full story via InvestmentNews; registration required.
New Jersey Supreme Court Hears Life Settlement Case
{February 5th, 2019} by Allison Bell
A New Jersey Supreme Court case could affect investment firms that buy life insurance policies from life settlement companies without verifying how the policies came to exist. Sun Life Assurance Company of Canada, an arm of Sun Life Financial Inc., and an arm of Wells Fargo & Company are battling over the fate of a $5 million […]
Investment Advisor’s Top 16 Women in WealthTech
{February 5th, 2019} by Janet Levaux
There are lots of women in different IT leadership roles throughout the financial services industry. So many in fact, that we had to limit the group highlighted here to those making a significant impact on wealth management at a select number of firms. For the inaugural top Women in WealthTech list, we chose to present […]
Americans Haven’t Thought Much About Life Insurance: Survey
{February 5th, 2019} by Michael S. Fischer
Americans worry about providing for their families in the event of their death, but most are unaware of many of the benefits life insurance can provide, according to a new survey from Edward Jones, a financial services firm, and Life Happens, a nonprofit consumer education group. In the same survey, a quarter of survey respondents said their biggest […]
Florida Official to Fill NAIC Vice President Vacancy
{February 5th, 2019} by Allison Bell
The regulator members of the National Association of Insurance Commissioners (NAIC) have elected David Altmaier to be the NAIC’s vice president. Altmaier has been the commissioner in Florida since 2016. Altmaier runs the Florida Office of Insurance Regulation, an agency with a staff of 292. He is also the 2019 chair of the NAIC’s Financial […]
Selling life insurance in the foreign nationals market
{February 5th, 2019} by Allan Gersten
The Foreign Nationals market for life insurance is an advisor’s dream. It’s huge, the prospects are motivated, and offers significant rewards. Even with all this, it’s far from overcrowded. Life insurance advisors aren’t flocking to it. They talk about it and some indicate an interest, but there is little action compared to the opportunities. Then, […]
Voya Financial webpage glitch exposes Social Security numbers of reps
{February 5th, 2019} by Bruce Kelly
Voya Financial Advisors Inc. on Friday told its brokers and financial advisers that a glitch on a biography webpage for its brokers put their Social Security numbers at risk of exposure. Click HERE to read the full story via InvestmentNews; registration required.
A New Fixed Indexed Annuity Has RIAs in Mind
{February 5th, 2019} by Bernice Napach
DPL Financial Partners, an insurance network for RIAs, has partnered with Security Benefit Life Insurance Co. to launch a fixed index annuity that reflects input from DPL’s RIA members. The annuity, called ClearLine, is commission-free, like all DPL products, and offers downside protection in exchange for limited upside gains. The minimum investment is $25,000. The […]
IMOs To Trade Groups: What About Our ‘Best Interest?
{February 5th, 2019} by John Hilton
A group of independent marketing organizations are dissatisfied with how industry trade groups are representing them in best-interest regulatory discussions. A letter signed by 14 IMO executives was sent last month to the leading trade associations that represent annuity sellers. They say trade groups are too accepting of best-interest ideas put forth by the National […]
Ex-Vikings Quarterback Fran Tarkenton: How Advisors Can Prevent Elder Fraud
{February 5th, 2019} by Jane Wollman Rusoff
Fran Tarkenton, “The Mad Scrambler” NFL record-setting Vikings quarterback, was licensed to sell insurance at age 18. Back then, fellow students at the University of Georgia purchased the plan he was marketing. Today, the retired Hall of Famer is touting fixed indexed annuities as a retirement strategy to protect seniors from financial abuse. He also […]
Lockheed Martin transfers $1.8 billion in pension obligations to Prudential Retirement
{February 5th, 2019} by Business Wire
NEWARK, N.J.–(BUSINESS WIRE)–Lockheed Martin Corporation (NYSE: LMT) has transferred approximately $1.8 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE: PRU). Approximately 32,000 of Lockheed Martin’s retirees will receive their monthly pension benefit payments from Prudential as part of […]
CNO Financial Names Cheryl L. Heilman Vice President and President of Bankers Life Securities
{February 5th, 2019} by CNO Financial Group
CARMEL, Ind., Feb. 4, 2019 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) announced today the appointment of Cheryl L. Heilman to the position of vice president and president of Bankers Life Securities, Inc. (BLS) and Bankers Life Advisory Services, Inc. (BLAS). In this role, Heilman will be responsible for driving the strategic growth agenda of both the retail broker-dealer and […]
Report: Under-Insurance Costing Life Insurers $70B Annually
{February 5th, 2019} by John Hilton
Just 26 percent of the total coverage needed for life insurance is currently met, according to a new report, resulting in $70 billion in lost premiums for the industry. The report found that insurance companies are missing out on an average of $785 in annual life insurance premium payments per person who requires insurance coverage […]
Customers Are Taking Control Of Financial Services
{February 5th, 2019} by Troy Korsgaden
Gone are the days of carriers leading the entire purchasing cycle of insurance products and financial services. In today’s environment, it’s the customer who is in control. To remain competitive, advisors must become the local gateway to every potential option. This is a positive change for our industry. Instead of running our businesses in a […]
Ameriprise Financial Reports Fourth Quarter and Full Year 2018 Results
{February 5th, 2019} by Ameriprise Financial, Inc.
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) today reported fourth quarter 2018 net income of $539 million, or $3.76 per diluted share. Adjusted operating earnings excluding items(1) increased 12 percent to $544 million, with adjusted operating earnings per diluted share excluding items(1) up 21 percent to $3.80. Significant equity and interest rate volatility resulted in non-cash mean reversion-related […]
Top 20 YouTube Annuity Videos of 2018
{February 5th, 2019} by Allison Bell
YouTube.com can give you a peek into what other people are thinking about annuities. Here’s a look at the 20 most-watched YouTube annuity videos of 2018. To see screenshots from the five most-watched YouTube annuity videos of 2018, Click HERE Methods We came up with this list by searching YouTube for videos with the word […]
Charles DiVencenzo to Take the Tiller at NAFA
{February 5th, 2019} by Allison Bell
The board of the National Association for Fixed Annuities has picked Charles DiVencenzo to be the group’s new president and chief executive officer. DiVencenzo is set to take the helm April 1. At NAFA, members serve as the board leaders. The group’s president oversees day-to-day operations. Jim Maietta is NAFA’s chair. Click HERE to read […]
Forget the agent, soon claim insurance through WhatsApp: India
{February 4th, 2019} by Manik Kumar Malakar
Indian insurance companies have started to log on to WhatsApp as a convenient and quick means of reaching out to their customers. This may make it easy for customers to access policy details and lodge claims. But for now, the service is limited in scope. Some companies that have launched services via WhatApp are Aditya […]
Mutual of Omaha to Use VUE Producer Software
{February 3rd, 2019} by Allison Bell
Mutual of Omaha is trying to bring agents and brokers aboard more smoothly, and pay them more efficiently. The insurer has agreed to adopt producer onboarding and compensation management software from Computer Solutions and Software International LLC, which does business as VUE Software Mutual of Omaha is hoping the new systems will improve producers’ experience, […]
Ibbotson Taken to Task over Indexed Annuities
{February 2nd, 2019} by Kerry Pechter
If you read the January 28 edition of Advisor Perspectives (AP), you know that Michael Edesess and Bob Huebscher published a kind of takedown of Roger Ibbotson’s year-ago endorsement of fixed indexed annuities. In a March 2018 white paper, Ibbotson portrayed FIA as a generally prudent financial instrument. Click HERE to read the full story via […]
Ladder Launches Ladder For Advisors To Further Streamline Consumer Access To Life Insurance
{February 2nd, 2019} by Ladder
DALLAS, Jan. 29, 2019 /PRNewswire/ — Ladder, the company that has built life insurance to be instant, simple and smart, today introduced Ladder for Advisors at the T3 Advisor Conference, the leading practice management and technology conference for independent and hybrid financial advisors. Ladder for Advisors is a new solution that provides financial advisors with an efficient way to help their […]
5 Options to Reduce Investment Risk in IRAs Read Newsmax: 5 Options to Reduce Investment Risk in IRAs
{February 1st, 2019} by Ken Nuss
People approaching or in retirement should not have an over-weighted stake in equities. If you need to reduce risk in your IRA and/or Roth IRA, what are the best ways to do it? A bank certificate of deposit (CD) is a reasonable choice. But a fixed-rate annuity can be an even better choice. Both CDs […]
