DOL Plans On Fiduciary Definition Captivate LIMRA Audiences
{May 3rd, 2022} by John Hilton
TAMPA–Opinions are mixed here on whether the Department of Labor will pursue a strict fiduciary standard that would rope in retirement plan sales of insurance products. Officially, it is expected that the DOL will deliver a new fiduciary rule definition any day. Those plans were laid out in a previous department regulatory agenda. “Our expectation […]
‘Fear Of Technology’ Is Gone; Life Insurers Need To Step Up
{May 3rd, 2022} by Doug Bailey
TAMPA, Fla. — When it comes to the acceptance of digital and online technology, the retail banking and P&C industries are as much as three years ahead of life insurers, which have been slow to innovate with new emerging systems and is sorely in need of a reset. That’s the conversation starter that Kartik Sakthivel, […]
Why Advisors Shouldn’t Dismiss Index-Linked Annuities
{May 3rd, 2022} by Michael Finke
Sales of protection-focused annuity products were higher in the fourth quarter of 2021 than the combined total of accumulation and income-focused annuities, according to data from the Secure Retirement Institute. In fact, the sales of [structured annuities*] have led the protection annuity charge with sales more than doubling from $4.3 billion in the second quarter […]
Florida’s financial literacy push is a teaching moment for advisers
{May 3rd, 2022} by Mark Schoeff Jr.
Charlie Fitzgerald and other members of the Florida Financial Planning Association had been trying for years to advance financial literacy in the state. Click HERE to read the full story via InvestmentNews
States where financial literacy is highest in 2022
{May 3rd, 2022} by InvestmentNews
Amid April’s celebration of National Financial Literacy Month, WalletHub has ranked the 50 states and the District of Columbia on their residents’ financial literacy. Click HERE to view the full story via InvestmentNews
Why Advisors Shouldn’t Dismiss Index-Linked Annuities
{May 3rd, 2022} by Michael Finke
Sales of protection-focused annuity products were higher in the fourth quarter of 2021 than the combined total of accumulation and income-focused annuities, according to data from the Secure Retirement Institute. In fact, the sales of registered index-linked annuities (RILAs) have led the protection annuity charge with sales more than doubling from $4.3 billion in the second […]
Reliance Standard
{May 3rd, 2022} by Broker World
Reliance Standard Life Insurance Company has introduced a new annuity product for use by individuals seeking to preserve capital and generate steady returns. The Reliance Accumulator™ is a fixed index annuity product that builds on the success of Reliance Standard’s legacy Keystone Index annuity, which will continue to remain available. The Reliance Accumulator offers five, […]
Long Term Care Annuities: A “Low Friction” LTC Product
{May 3rd, 2022} by Charlie Gipple
As I discuss this particular product type as being a “low friction” long term care sale, I do not want the reader to gather that the main reason to sell it is because it’s a “layup” sale whereas the client will give up value versus a better/higher friction product. After all, I will always work […]
Giving Guaranteed Income A Raise
{May 3rd, 2022} by Michael Yavorsky
The development and use of income riders on fixed index and variable deferred annuity contracts over the last number of years has been widespread. Many consumers are now reaching the age to “turn on the income faucet.” But are these the only income options available for clients with deferred annuities? They are not. A single […]
Kansas City Life Announces First Quarter 2022 Results
{May 3rd, 2022} by Kansas City Life Insurance Company
KANSAS CITY, Mo., April 29, 2022 /PRNewswire/ — Kansas City Life Insurance Company recorded a net loss of $7.7 million or $0.79 per share in the first quarter of 2022 compared to a net loss of $0.7 million or $0.07 per share in the first quarter of 2021. The largest factor in the decline in net income in the first quarter of 2022 compared to […]
Fidelity National Financial Announces First Quarter 2022 Earnings Release and Conference Call
{May 3rd, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., April 26, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (the “Company”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF’s wholly-owned subsidiary, F&G, will release first quarter 2022 earnings […]
Simplicity Continues Its Growth Trajectory with the Acquisition of Financial Security Associates and Welcomes Paige Blair as a Partner
{May 3rd, 2022} by Simplicity Group
SUMMIT, N.J., May 2, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”), one of the nation’s leading financial products distribution businesses, today announced the acquisition of Financial Security Associates (“FSA”), a Raleigh, NC-based firm specializing in life insurance, annuity, and disability income. Founded in 1993 by industry veteran Dwight Carter, FSA has grown from a small regional organization to a […]
New York Life Launches Love Takes Action Podcast Series
{May 3rd, 2022} by New York Life
New York Life Launches Love Takes Action Podcast Series The eight-part pilot delivers rich and compelling audio narratives beginning April 26 April 26, 2022 09:30 AM Eastern Daylight Time NEW YORK–(BUSINESS WIRE)–Today New York Life, America’s largest1 mutual life insurer, launches its inaugural podcast series, Love Takes Action, hosted by actor and writer Ellen Adair. The bi-weekly […]
Market Risks and World Tensions Are Making Americans Pessimistic About the Economy
{May 3rd, 2022} by Allianz Life Insurance Company of North America
MINNEAPOLIS–(BUSINESS WIRE)–As world tensions increase and the stock market continues to be volatile, Americans say they are increasingly pessimistic about the economy and stock market performance. In fact, less than half (47%) say they think the economy will improve in the next year, according to the 2022 Q1 Quarterly Market Perceptions Study* from Allianz Life Insurance […]
Equitable Reinforces Commitment to America’s Teachers During Teacher Appreciation Week
{May 3rd, 2022} by Equitable
NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced its 3-year partnership with The Council of Chief State School Officers’ (CCSSO) National Teacher of the Year Program. The program’s 2022 cohort of State Teachers of the Year is comprised of 56 educators from across the country and U.S. territories who teach […]
MassMutual Business Owner Perspectives Study: Lagging Long-Term Planning Impacts for Small Businesses
{May 3rd, 2022} by MassMutual
SPRINGFIELD, Mass.–(BUSINESS WIRE)–Still recovering from pandemic-induced challenges, U.S. small businesses are failing to plan for the long term, according to new research from Massachusetts Mutual Life Insurance Company’s (MassMutual) Business Owner Perspectives Study. Of the small businesses that survived the pandemic, most aren’t prepared for another financial shock: Only 36% are experiencing growth and almost […]
Monument Re Has Entered Into a Reinsurance Agreement With Countrywide
{May 3rd, 2022} by Monument Re Limited
HAMILTON, Bermuda–(BUSINESS WIRE)–Monument Re announced that it has entered into a Reinsurance Agreement with Countrywide Assured PLC (“Countrywide”), a subsidiary of Chesnara plc. Manfred Maske, Group CEO of Monument Re, stated that, “It has been a pleasure to work with Chesnara and Countrywide and conclude this annuity reinsurance with Countrywide.” About Monument Re Monument Re […]
Principal Financial Group® Announces First Quarter 2022 Results
{May 3rd, 2022} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced results for first quarter 2022. Net income attributable to PFG for first quarter 2022 of $376.2 million, compared to $517.1 million for first quarter 2021. Net income per diluted share of $1.43 for first quarter 2022 compared to $1.87 in the prior year quarter. Non-GAAP operating earnings for […]
Lincoln Financial appoints Matthew Grove as Head of Individual Life & Annuities and Lincoln Financial Network
{May 3rd, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) is pleased to announce that Matthew Grove will join the company in July as Executive Vice President, Head of Individual Life & Annuities and Lincoln Financial Network. Grove will be a member of Lincoln’s Senior Management Committee and will report to Ellen Cooper, Lincoln’s CEO-Elect, who will step into […]
AM Best Affirms Credit Ratings of Lincoln National Corporation and Its Subsidiaries
{May 3rd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of The Lincoln National Life Insurance Company and its wholly owned subsidiary, Lincoln Life & Annuity Company of New York (Syracuse, NY). These companies are the key/life health insurance subsidiaries of […]
AM Best Upgrades Issuer Credit Rating of EquiTrust Life Insurance Company
{May 3rd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of EquiTrust Life Insurance Company (EquiTrust) (Chicgao, IL). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR […]
AM Best Upgrades Issuer Credit Rating of Investors Heritage Life Insurance Company
{May 3rd, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “bbb” (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Investors Heritage Life Insurance Company (IHLIC) (Frankfort, KY), which is a subsidiary of Aquarian Insurance Holdings LLC (Aquarian). The outlook of these Credit Ratings (ratings) is […]
Janet Yellen Says More Shocks Likely To ‘Challenge The Economy’
{May 3rd, 2022} by Associated Press
WASHINGTON (AP) — Treasury Secretary Janet Yellen said Thursday the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future, adding that downturns are “likely to continue to challenge the economy.” Her address at the Brookings Institution looked at lessons learned from economic downturns of the past and […]
RetireOne Partners With Dr. Michael Finke on New Research that Explores the Value of Portfolio Income Insurance
{May 3rd, 2022} by RetireOne
RetireOne Partners With Dr. Michael Finke on New Research that Explores the Value of Portfolio Income Insurance Study explores the benefits of portfolio income insurance and how CDAs may offer better upside potential than a portfolio of bonds or traditional income annuities April 26, 2022 12:08 PM Eastern Daylight Time SAN FRANCISCO–(BUSINESS WIRE)–RetireOne® today released […]
Broker Words—May 2022
{May 3rd, 2022} by Stephen Howard
I think I’ve digressed before about my love for the Farm Bureau robot advisor ads.You know, the ones with a white robot with glasses that looks like a cross between John Lithgow and a George Lucas stormtrooper. My favorite line is where the husband winks and the robot says, “Your ocular cavity is experiencing a […]
Alternative Asset Based Funding For Long Term Care: Long Term Care Life Settlements
{May 3rd, 2022} by Chris Orestis, CSA
Long term care life settlements first emerged in the insurance secondary market 15 years ago as an offshoot of traditional life settlements. An overlooked asset owned by millions of seniors came into focus by care providers, political bodies, Medicaid departments, advisors, and policy owners as the realization that life insurance policies are personal property of […]
Psst… The Secret to Financial Security is Owning Life Insurance
{May 3rd, 2022} by LIMRA and Life Happens
Arlington, Va. and Windsor, Conn., April 25, 2022―According to new findings from the 2022 Insurance Barometer Study, conducted jointly by nonprofit industry trade associations LIMRA and Life Happens, 2 in 5 parents say they are barely or not at all financially secure. This is increasingly critical, as most households haven’t prepared for the loss of […]
Governor Abbott Announces Teachers Insurance And Annuity Association Corporate Center In Frisco
{May 3rd, 2022} by Governor Greg Abbott
Governor Greg Abbott today announced that the Teachers Insurance and Annuity Association (TIAA) will establish a new corporate center in Frisco, Texas. TIAA is a leading provider of secure retirements and outcome-focused investment solutions. The project will create 2,000 new jobs and nearly $58 million in capital investment. A Texas Enterprise Fund (TEF) grant of […]
Integrity Expands Life Insurance Distribution in Addition of New-Age Relentless Insurance Agency
{May 3rd, 2022} by Integrity Marketing Group
Fast-growing IMO with impeccable reputation for service and support will leverage Integrity’s technology and resources to help agents protect more American families DALLAS, April 26, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement […]
Liberty Bankers Insurance Group Welcomes New Executive Leader
{May 3rd, 2022} by Liberty Bankers Insurance Group
DALLAS, April 26, 2022 /PRNewswire/ — Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and financial products, today announced the addition of Brian Clark as the new executive vice president, chief marketing officer. “Brian comes to us with more than 23 years of experience in the health insurance arena,” said Edward (Marty) Martin, president of LBIG. “At LBIG, […]
I’m Dead. Now What?
{May 3rd, 2022} by Jay Scheiner, JD, CLU
What If? My father passed away seven years ago. He was 93 when he died, but his mind started deteriorating six years before that. Alzheimer’s stealthily stole the essence of who he was, and watching him lose a step here and there was painful for our entire family. We were very close and I miss […]
The Income Annuity is the Constrained Investor’s Life Jacket
{May 3rd, 2022} by David Macchia
Imagine that you have joined some friends for a day of fishing. About two miles offshore, you sense that something is wrong. The small, single engine boat’s handling has changed. There seems to be more drag. The water level is higher than normal. It’s becoming obvious that a serious problem is unfolding. One of your […]
