Did you know
{November 5th, 2024} by Sheryl J. Moore
Did you know that precisely 27.85% of the $109.62 billion in annuity sales in 2Q2024 were originated through insurance companies that are backed by private equity? Something about these products has lured in some of the biggest PE firms… -sjm
I wouldn’t buy an annuity from this guy, if you paid me
{November 5th, 2024} by Sheryl J. Moore
I get sick of these “news” segments, where financial services folks pay for screen time. I find that many of them have elementary knowledge of the products they are pitching, and most of them have bad information. And so often, the topic at hand is ANNUITIES. Things I don’t like about this segment: Every two […]
Full Stack JavaScript Developer, Des Moines Metropolitan Area
{November 5th, 2024} by Vince Lozada, CTO
We are seeking a Full Stack JavaScript Developer who can use advanced JavaScript/TypeScript, CSS, and HTML to optimize design, performance, and quality while evolving our technology stack. This person will work across the full stack, building highly scalable distributed solutions that enable positive user experiences and measurable business growth. The ideal candidate will have complete, […]
Taming market volatility risk is a must for investors
{November 5th, 2024} by Ayo Mseka
Following recent market volatility, most Americans want to reduce risk in their financial strategy and bolster their portfolio against future volatility, according to the 2024 Q3 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America. In fact, a whopping 73% of Americans said that they would stop using their current financial professional […]
New Research Shows Full or Partial Annuitization Leads to Better Retirement Income Outcomes than 4% Rule
{November 5th, 2024} by ACLI
WASHINGTON, Oct. 29, 2024 /PRNewswire/ — A strategic balance of annuities and systematic withdrawals, tailored to individual needs, preferences and market conditions, is the key to optimal retirement outcomes according to new research from economists Mark Warshawsky, Principal of ReLIA Strategies, former Deputy Commissioner for Retirement and Disability Policy at the Social Security Administration (2017-2021), and current Senior […]
Funny name, serious implications: The basics of spendthrift clauses
{November 5th, 2024} by Tobias Salinger
Financial advisors and tax professionals seeking to help clients protect trust assets in the event of divorce, lawsuits or an extravagant heir should know the basics of a spendthrift clause. An ever-growing alphabet soup of trust entities enable planners to assist clients in moving assets out of their taxable estates. However, without the right so-called […]
Read Newsmax: Like Jimmy Carter, You (or Your Spouse) Might Live to 100: Opinion
{November 5th, 2024} by Ken Nuss
Jimmy Carter recently became the first president to reach 100 years old. Fortunately, he’s had no worries about running out of money. His net worth is estimated at $10 million, and his presidential pension is $246,424 in 2024. Nice work if you can get it! Read Newsmax: Like Jimmy Carter, You (or Your Spouse) Might Live […]
Applications Of AI In Life Insurance
{November 5th, 2024} by Ken Leibow
AI is increasingly woven into the fabric of our daily lives—from smartphones and home appliances to the latest cars and trucks. The life insurance industry is no exception, with many vendors integrating AI into their products and services. First a quick plug for InsurTech Navigator AI, developed by my company InsurTech Express. This AI-powered platform […]
I Bought An Annuity With A GLWB Rider
{November 5th, 2024} by Charlie Gipple, CFP, CLU, ChFC
I once spoke to an agent that had called me up to discuss a YouTube video where he saw me discussing Annuity GLWB (Guaranteed Lifetime Withdrawal Benefits) riders and how they have never been more lucrative from a standpoint of the levels of guaranteed lifetime income that they are currently offering. He was a novice […]
Broker Words—November/December 2024
{November 5th, 2024} by Stephen Howard
Our November/December cover expresses a yearning for my image of the press of the past and a more divergent expression of thought. Timely perhaps, as I have to admit I hate election years now. The two year cycle is bad enough, but the four year cycle is the worst by far. I don’t have overwhelming […]
Advisor to SEC: show the court your guidance on commission payments
{November 5th, 2024} by John Hilton
A Massachusetts financial advisor also licensed as an insurance agent is asking a judge to force the Securities and Exchange Commission to explain its stance on commission payments. In March 2023, the SEC filed charges against Jeffrey Cutter and his advisory firm, Cutter Financial Group for “recommending that their advisory clients invest in insurance products that paid Cutter […]
Lincoln Financial delivers nuggets of good news, along with $528M Q3 loss
{November 5th, 2024} by John Hilton
Main takeaway: Lincoln Financial executives gave plenty of reasons Thursday for Wall Street analysts to feel good about its future: strong annuity sales, a new Bermuda reinsurer, and a new company branding effort. Stll, the insurer’s bumpy financial road continues as it took another quarterly loss – this time, $528 million – attributed to one-time charges. Christopher […]
Insurers, regulators race to harness power of AI
{November 5th, 2024} by John Hilton
The business of insurance is powered by data. Always has been. Data sharpens underwriting decisions, produces the most accurate risk assessments and helps to better connect insurance producers with potential buyers. Click HERE to read the full story via INN
Economic conditions, income needs drive big annuity sales, LIMRA says
{November 5th, 2024} by Staff Reports
Strong economic conditions and a growing awareness of the power of guaranteed income continued to drive record-setting annuity sales through the third quarter, LIMRA reported. Total annuity sales increased 29% year over year to $114.6 billion in Q3, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey. This is the 16th consecutive quarter […]
Prudential rides five $1B-selling annuity products to solid Q3
{November 5th, 2024} by John Hilton
Main takeaway: Booming annuity sales helped Prudential record strong performance in its retirement businesses during a successful third quarter. The insurer recorded net income of $448 million, a turnaround from a net loss of $802 million in the year-ago quarter. Executives discussed the results with Wall Street analysts early Thursday. Click HERE to read the […]
Survey finds some support for DOL fiduciary rule
{November 5th, 2024} by Doug Bailey
A new survey of financial professionals shows surprising and almost uniform support for the Department of Labor’s Retirement Security Rule that would require insurance brokers who provide retirement planning services be held to a fiduciary standard. The survey of more than 230 advisors by DPL Financial Partners, fee-only advisors were more likely to strongly agree […]
Prudential Financial, Inc. Announces Third Quarter 2024 Results
{November 5th, 2024} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported third quarter results. Net income attributable to Prudential Financial, Inc. was $448 million ($1.24 per Common share) for the third quarter of 2024, compared to a net loss of $802 million ($2.23 per Common share) for the third quarter of 2023. After-tax adjusted operating income was […]
Protective Closes ShelterPoint Acquisition
{November 5th, 2024} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation, a U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), is proud to announce that its principal subsidiary, Protective Life Insurance Company (together “Protective”), completed the acquisition of ShelterPoint Group, Inc., the holding company of ShelterPoint Life Insurance Company and its wholly owned subsidiary ShelterPoint Insurance Company (together “ShelterPoint”). ShelterPoint is a leading provider […]
Horace Mann reports third-quarter 2024 results
{November 5th, 2024} by Horace Mann Educators Corporation
SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN), the largest multiline financial services company focused on helping America’s educators and a core small-cap growth and value equity in the Financials sector, today reported financial results for the three and nine months ended September 30, 2024: Diversified business delivered third-quarter net income of $34 million, or $0.83 […]
Americans Lack Plans for Retirement Income, Allianz Life Study Finds
{November 5th, 2024} by Allianz
MINNEAPOLIS–(BUSINESS WIRE)–Many Americans lack a plan for how they will draw from their retirement savings for income in retirement and worry about the funds lasting for their lifetime, according to the 2024 Annual Retirement Study* from Allianz Life Insurance Company of North America (Allianz Life). Less than half of Americans (44%) say they currently have […]
North American and AMS Financial Services Group Announce Max Elite Annuities
{November 5th, 2024} by Sammons Financial Group
WEST DES MOINES, Iowa–(BUSINESS WIRE)–North American Company for Life and Health Insurance® (North American), an A+ rated carrier3 and member company of Sammons® Financial Group and one of the largest issuers of fixed index annuities (FIAs) in the U.S.1, is partnering with AMS Financial Services Group, a long serving financial solutions provider. Today the two companies announce the addition of a […]
Equitable Holdings Reports Third Quarter 2024 Results
{November 5th, 2024} by Equitable Holdings, Inc
NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (“Equitable Holdings”, “Holdings”, or the “Company”) (NYSE: EQH) today announced financial results for the third quarter ended September 30, 2024. “Our third quarter results highlight sustained organic growth momentum across the company. Non-GAAP operating earnings per share of $1.53 increased 34% from the prior year quarter and were up 22% […]
Jackson Increases Access to RILA Product through Distribution Partnership with JPMorganChase
{November 5th, 2024} by Jackson National Life Insurance Company
ANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company (Jackson®), the main operating subsidiary of Jackson Financial Inc.2 (NYSE: JXN), today announced it is partnering with JPMorganChase to offer its registered index-linked annuity (RILA), Jackson Market Link Pro II®, to the approximately 5,000 financial professionals at J.P. Morgan Wealth Management. “We are proud to expand our partnership with JPMorganChase, […]
Corebridge Financial Announces Third Quarter 2024 Results
{November 5th, 2024} by Corebridge Financial, Inc
HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (“Corebridge” or the “Company”) (NYSE: CRBG) today reported financial results for the third quarter ended September 30, 2024. Kevin Hogan, President and Chief Executive Officer of Corebridge, said, “We had a very strong quarter as Corebridge grew operating earnings per share by 31% year over year to $1.38. At the same […]
Nearly 60 percent of future retirees think they will need a paycheck in retirement that’s as big or bigger than what they receive today to live comfortabl
{November 5th, 2024} by Northwestern Mutual
MILWAUKEE, Oct. 29, 2024 /PRNewswire/ — The oldest members of Generation X will turn 60 next year and many are starting to think about retirement. Meanwhile, 58% of Gen X’ers and 64% of Boomers+ who are not yet retired say they expect their monthly income in retirement will need to be the same or more as their current […]
CNO Financial Group Reports Third Quarter 2024 Results
{November 5th, 2024} by CNO Financial Group, Inc.
CARMEL, Ind., Oct. 31, 2024 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today reported net income of $9.3 million, or $0.09 per diluted share, in 3Q24 compared to $167.3 million, or $1.46 per diluted share, in 3Q23. Non-economic accounting impacts due to market volatility affected both periods which reduced net income in 2024 and increased it in 2023. Net operating income,(1) which excludes these non-economic accounting […]
Navigating Digital Transformation In The Life Insurance Industry
{November 5th, 2024} by Ken Leibow
In today’s rapidly evolving digital landscape, the life insurance industry stands at a crossroads, balancing the promise of technological advancement with the practical challenges of integration and optimization. As Independent Marketing Organizations (IMOs) and Brokerage General Agencies (BGAs) embrace a plethora of software solutions designed to enhance operational efficiency, the necessity for effective implementation becomes […]
Layin’ It on the Line: Fixed index annuities – The safe harbor for retirees in a volatile economy
{November 5th, 2024} by Lyle Boss
If you’re nearing or already in retirement, the recent market volatility might be giving you pause. With economic uncertainty, rising inflation and stock market fluctuations, protecting your hard-earned nest egg becomes more challenging — and more critical — than ever. For baby boomers, seniors and retirees, ensuring that your savings not only last but also […]
The money must go somewhere
{November 5th, 2024} by Roger Aucoin
Over the past several years, record-breaking fixed-rate deferred annuity sales have been driven by elevated interest rates and the fact that they offer much more yield than money markets and low certificate of deposit rates do. FRDs’ rate appeal — along with complete protection of principal — means clients can rest easy knowing that no […]
Community Insurance Partners Joins with Integrity to Deliver Extended Care-Focused Solutions to Communities in Need
{November 5th, 2024} by Integrity Marketing Group, LLC
DALLAS – OCTOBER 29, 2024 – 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 partnered with Community Insurance Partners, based in Mobile, Alabama, and led by Jason Jones. Financial details of the partnership were not disclosed. Jones […]
