MassMutual’s Digital Agency Makes Distribution Deals
{August 1st, 2023} by Allison Bell
Haven Life is ignoring the recent gloom about insurance technology companies and adding distribution relationships. MassMutual’s New York-based digital life insurance agency announced two new distribution alliances Monday. Click HERE to read the full story via ThinkAdvisor
7 Annuity Exclusion Ratio Basics to Know
{August 1st, 2023} by Allison Bell
One way for a financial advisor to get attention is to find a compliance-compatible way to post a guide to annuity exclusion ratio basics. The annuity exclusion ratio is an Internal Revenue Code provision that can reduce the federal income taxes on the cash coming out of a client’s annuity sharply Click HERE to read […]
Life Insurers Kept Selling More Fixed Annuities in Q2
{August 1st, 2023} by Allison Bell
Life insurers are continuing to sell more annuity products with fixed benefit guarantees — in spite of their efforts to limit their exposure to annuity guarantee risk. Total sales of U.S. individual annuities increased 12% between the second quarter of 2022 and the second quarter of this year, to $88.6 billion, according to new LIMRA […]
Once upon a time
{August 1st, 2023} by Pam Sheehan
Life insurance is intangible. Storytelling is how you make it relatable.
What is an annuity and when is it a smart investment?
{August 1st, 2023} by Ira Wilder
If you’re nearing retirement, one of the most important (and potentially stressful) questions you have to ask yourself is “do I have enough?” One-third of Americans over 50 said their biggest retirement planning regret was not obtaining a lifetime income source, according to a Nov. 2022 study from researchers at the University of Pennsylvania and the Hebrew […]
At least it is an opportunity for readers to ask financial advisors about life insurance.
{August 1st, 2023} by Sheryl J. Moore
Just what IS permanent life insurance? That is what Devon Delfino and Jennifer Lobb set out to communicate in this week’s USA TODAY’s Blueprint content. Click HERE to read Permanent Life Insurance Explained. **********SN: Blueprint is for lead generation, so there is that.********** This article was somewhat of a smorgasbord of life insurance information. It […]
Annuity product trends, sales innovation and advisor opportunities
{August 1st, 2023} by Paul Feldman
Chris Conroy, executive vice president & principal, Insurance Agency Marketing Services, Inc., at the recent NAFA Annuity Leadership Forum discusses a new indexed annuity product, sales and product trends, as well as his views on proposed industry regulation and how annuity advisors can be successful. Click HERE to watch via INN Wink’s Moore on […]
Indexed Universal Life Insurance?
{August 1st, 2023} by Nolan Stokes
Life insurance is most commonly known for providing beneficiaries with a death benefit upon the death of a provider, giving them a chance to recover financially and pay for major expenses like bills or a funeral. While that can be helpful, under a term life policy, it’s an extremely limited benefit that only pays out […]
Looks like this clickbait needs some improved fact-checking…
{August 1st, 2023} by Sheryl J. Moore
I was really interested to see an article from Forbes Advisor comparing certificates of deposit (CDs) to annuities. Click HERE to read Annuity vs. CD And I was moving right along until I read that there were “three main types” of annuities. Note to self: they forgot structured annuities/RILAs. No big deal. But THEN, I read […]
Symetra “Teammates” Campaign Debuts New Advertising with Sue Bird
{August 1st, 2023} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company has launched new brand advertising featuring five-time Olympic gold medalist and four-time WNBA Champion Sue Bird. Titled “Breathe,” the national consumer advertising evolves Symetra’s successful “Teammates” campaign (“Your teammate for whatever lies ahead”) and includes three commercials, and digital and social media components. “Breathe” is Bird’s fifth collaboration with Symetra, which […]
Allianz Life Announces Sponsorship of Five Olympians and Paralympians
{August 1st, 2023} by Allianz Life
MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life) announced that it has signed on as sponsor of five Olympians and Paralympians – Ashleigh Johnson, U.S. Olympian – water polo, Chuck Aoki, U.S. Paralympian – wheelchair rugby, Ian Seidenfeld, U.S. Paralympian – Para table tennis, Matt Stutzman, U.S. Paralympian – Para archery, and Regan Smith, U.S. […]
AM Best Affirms Credit Ratings of Teachers Insurance and Annuity Association of America and Its Subsidiary
{August 1st, 2023} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aaa” (Exceptional) of Teachers Insurance and Annuity Association of America (TIAA) and its wholly owned insurance subsidiary, TIAA-CREF Life Insurance Company (TIAA-CREF Life). TIAA and TIAA-CREF Life collectively are referred to as the TIAA […]
AM Best Upgrades Issuer Credit Ratings of Global Atlantic Financial Group Limited and Its Subsidiaries
{August 1st, 2023} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Commonwealth Annuity and Life Insurance Company (Brighton, MA), First Allmerica Financial Life Insurance Company (Brighton, MA), Forethought Life Insurance Company (Indianapolis, IN), Accordia Life and Annuity […]
Principal Financial Group® Announces Second Quarter 2023 Results
{August 1st, 2023} by Principal
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced results for second quarter 2023. Non-GAAP net income attributable to PFG excluding income from exited business1 for second quarter 2023 of $324.5 million, compared to $207.7 million for second quarter 2022. Non-GAAP net income excluding income from exited business per diluted share of $1.32 for second quarter 2023. Non-GAAP […]
Fidelity National Financial Announces Second Quarter 2023 Earnings Release and Conference Call
{August 1st, 2023} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., July 25, 2023 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”), 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 its majority owned subsidiary F&G Annuities & Life, Inc. (NYSE: FG), will release […]
F&G Annuities & Life Announces Second Quarter 2023 Earnings Release and Conference Call
{August 1st, 2023} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, July 25, 2023 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (“F&G”), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, will release second quarter 2023 earnings after the close of regular market trading on Tuesday, August 8, 2023. A webcast and conference call to discuss the results will […]
Simplicity Partners with Vince Munno through the Acquisition of Universal Financial Consultants
{August 1st, 2023} by Simplicity Group
SUMMIT, N.J., July 26, 2023 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”) today announced that Universal Financial Consultants (“UFC”) has officially joined Simplicity Group and Vince Munno becomes the Group’s newest partner. The day-to-day operations of UFC will continue to be managed by Mr. Munno and his leadership team. Launched more than 30 years ago, UFC is a Florida-based insurance […]
Guardian named to Forbes’ list of ‘America’s Best Employers for Women 2023’
{August 1st, 2023} by Guardian
Forbes recognition reflects Guardian’s support for women throughout their careers NEW YORK, July 26, 2023 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian) announced today that it has been named to Forbes’ list of “America’s Best Employers for Women 2023.” The list recognizes 400 American companies that are admired by employees for their dedication to women […]
CNO Financial Group Reports Second Quarter 2023 Results
{August 1st, 2023} by CNO Financial Group, Inc.
CARMEL, Ind., July 31, 2023 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today reported net income of $73.7 million, or $0.64 per diluted share, in 2Q23 compared to $233.3 million, or $1.99 per diluted share, in 2Q22. Net operating income (1) was $62.3 million, or $0.54 per diluted share, in 2Q23 compared to $135.1 million, or $1.15 per diluted share, in 2Q22. “Production was strong in both our Consumer and Worksite […]
Haven Life and Blend Join Forces to Incorporate Life Insurance Into the Home Purchase Process
{August 1st, 2023} by Haven Life
U.S. Homeowners can Seamlessly Purchase and Protect Investment in One Step NEW YORK, July 24, 2023 /PRNewswire/ — Haven Life, a leading digital direct-to-consumer life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is pleased to announce a strategic partnership with Blend, a leading provider of cloud banking services. This collaboration will make applying […]
Athene Annuity and Life Company Files Notice of MOVEit Data Breach at Pension Benefit Information
{August 1st, 2023} by Console and Associates, P.C.
On July 14, 2023, Athene Annuity and Life Company filed a notice of third-party data breach with the Attorney General of Maine after learning that a vendor used by Athene, Pension Benefit Information, LLC (“PBI”), experienced a data breach related to the popular file transfer application MOVEit. The filing included a sample template prepared by […]
Annuity sales boomed but also evolved in the second quarter
{August 1st, 2023} by Nathan Place
The Great Annuity Boom continued last quarter, but a close look at the details shows more change than meets the eye. From April to June 2023, total sales of annuities — insurance products that provide a pension-like retirement income — reached $88.6 billion, a 12% jump from the same quarter last year, according to LIMRA, an […]
Indexed annuity products power sales surge through Q2, set records
{August 1st, 2023} by Staff Reports
“Double-digit equity market increases and stable interest rates have prompted investors to seek out greater investment growth opportunity through RILAs and FIAs,” said Todd Giesing, assistant vice president, LIMRA Annuity Research. “Economic conditions continue to be favorable for the annuity market. LIMRA is forecasting a strong second half of the year and expects 2023 sales […]
Annuities selling at record level as clients look for growth and buffers
{August 1st, 2023} by Emile Hallez
Annuity sales have rocketed to record levels this year, fueled by demand for products that give contract owners stock exposure but provide limits that keep them from getting burned too severely by market drops. Click HERE to read the full story via Investmentnews
You May Be Surprised By How Long $750,000 Lasts You in Retirement
{August 1st, 2023} by Eric Reed
If you retire with $750,000 in your portfolio, how long will it last? This is one of the most important questions in retirement and the answer is, it depends. It depends on a wide range of individual factors, from where you live and how much you spend to how you invest. No one can give a general […]
Corebridge Financial, Inc. Confirms MOVEit Data Breach Leaked “a Significant Number” of SSNs
{August 1st, 2023} by Console and Associates, P.C.
On June 26, 2023, Corebridge Financial, Inc. filed documents with the Securities and Exchange Commission disclosing a data breach discovering that a vulnerability in the MOVEit file transfer program used by the company resulted in an unauthorized party being able to access confidential consumer information. In this notice, Corebridge explains that the incident resulted in […]
Fidelity & Guaranty Life Insurance Company Notified by PBI of Data Breach Related to MOVEit
{August 1st, 2023} by Console and Associates, P.C.
n July 20, 2023, Fidelity & Guaranty Life Insurance Company filed a notice of data breach with the Attorney General of Maine after discovering that one of the company’s vendors, Pension Benefit Information, LLC, experienced a MOVEit-related data breach. In this notice, F&G explains that the incident resulted in an unauthorized party being able to […]
Sovos Compliance Notifies Northwestern Mutual Clients of MOVEit-Related Data Breach
{August 1st, 2023} by Console and Associates, P.C.
On July 22, 2023, Sovos Compliance, LLC (“Sovos”) filed a notice of data breach on behalf of Northwestern Mutual after discovering that a secure file transfer program used by Sovos contained a vulnerability resulting in an unauthorized party being able to access files on the company’s MOVEit server. In this notice, Sovos explains that the […]
TIAA Touts In-Plan Annuity Growth Even as Retail Sales Hits New Record
{August 1st, 2023} by Alex Ortolani
TIAA announced that its in-retirement plan annuity offering is now being used by more than 250,000 participant accounts, as retail annuity sales continue to boom. TIAA, which has been providing annuity-backed retirement income products in 403(b) plans for more than 100 years, introduced a custom default product in 2014, and then rolled the offering out […]
Layin’ It on the Line: Annuities and America, a historical journey
{August 1st, 2023} by Steve Kerby
Delving into the history of annuities, an intriguing parallel emerges between these financial products and the journey of America since the Revolutionary War. From their early origins to their transformative impact on individuals’ lives, annuities have mirrored the growth and development of the United States, creating a fascinating historical connection. Click HERE to read the […]
