A note from Wink.
{November 21st, 2024} by Wink Intel Pros
We were delaying the newsletter this week to coincide with the publishing of Wink’s Sales & Market Report’s annuity report, however, the report’s publishing has been delayed until early next week. This is a special day for the Wink team! At the Wink offices, we declared November 21st as “Vinny Day!” We nominated this special day five […]
Hopefully we will have some viable choices; not tough decisions
{November 21st, 2024} by Sheryl J. Moore
A strange thing happened this week. THE DAY that I found out that my Dad was going to a nursing home, for his advanced Alzheimer’s, I had a planned visit with a wholesaler from OneAmerica Financial. Tim Vannoy, CLU, ChFC, CFP® wholesales combo products (annuities + LTC and life insurance + LTC) for the company. […]
Here are five people that I regularly learn from on LinkedIn:
{November 21st, 2024} by Sheryl J. Moore
I got this idea from Joe Apfelbaum and David M. Penny. Let’s play a game. Tag five people in my LinkedIn post who you value, and learn from regularly, on LinkedIn! Here are five people that I regularly learn from on LinkedIn: 1. Ian Ehrlich, 2. Andy Panko, CFP®, RICP®, EA, 3. Matthew Jarvis, 4. […]
You cannot talk about the guaranty fund
{November 21st, 2024} by Sheryl J. Moore
The more you know: The Life and Health Insurance Guaranty Association Model Act (as of the latest version, dated the first quarter of 2018) includes a ban on using the existence of guaranty association coverage in inducing the sale of insurance. This is why you cannot talk about the guaranty fund, when trying to sell life insurance […]
And then- I decided to work smarter.
{November 21st, 2024} by Sheryl J. Moore
Think SMARTER, not harder. My old boss taught me this adage about 22 years ago. I have used it ever since. I still remember the first time I used it in my OWN business. When I first started my company, I found myself giving the same demonstration of Wink, Inc.‘s AnnuitySpecs tool over and over […]
New Twists on Premium Bonuses Present Tradeoffs
{November 21st, 2024} by Cyril Tuohy
“It used to be that all premium bonuses were immediately credited, with no vesting schedules or recapture charges,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. Some annuities even credited a premium bonus to the annuity each year, or with every subsequent premium payment, but these have largely become scarce, said Moore. […]
New Rate Certainty Annuity by American National Offers Market Upside
{November 21st, 2024} by American National Insurance Company
HOUSTON, Nov. 19, 2024 (GLOBE NEWSWIRE) — American National Insurance Company announces the nationwide launch of the new Rate Certainty Annuity (RCA). The RCA is set to provide our distribution partners with a unique and simplified approach to annuities, combining the security of guaranteed rates with the benefit of capturing market upside. “The fixed index […]
NAILBA and Finseca celebrate two years of growth, 10,000 members
{November 21st, 2024} by John Hilton
WASHINGTON, D.C. – It’s been two years since the National Association of Insurance and Life Brokerage Agencies and Finseca merged to create NAILBA: A Finseca Community. As the organization kicks off NAILBA 43 here, leaders from both say the partnership is working out better than expected. “We doubled membership over the last four years. So […]
Expert: IUL illustrations nearing a crossroads as engineered indices grow
{November 21st, 2024} by John Hilton
Indexed universal life is a good product that is not being marketed and packaged correctly, said a leading industry analyst during day two of NAILBA 43. When properly marketed, IUL is a good “low-risk, low-return” financial product, said Bobby Samuelson, editor of the Life Product Review. Unfortunately, the proliferation of engineered indices has given rise […]
New indices added to Nationwide Hew Heights Select FIAs
{November 21st, 2024} by Nationwide
Columbus, OH – Volatile financial markets over the last few years have investors seeking out protection solutions, with 19% saying the most important benefit of working with a financial professional is protecting their assets against market risk, according to Nationwide’s 2024 Advisor Authority survey. As the need for both protection and growth potential grows, two new […]
Guaranty Income Launches WealthChoice Enhancements with Guaranteed Options for IMOs
{November 21st, 2024} by Guaranty Income Life Insurance Company
BATON ROUGE, La.–(BUSINESS WIRE)–Guaranty Income Life Insurance Company (GILICO), a Kuvare company, has launched four new crediting options for its WealthChoice Fixed Indexed Annuity (FIA), available starting November 18th. Known for its growth, income, safety, and flexibility, WealthChoice incorporates strategies that protect clients from market volatility and low-interest rates, while also providing opportunities for growth. […]
United Life Launches WealthChoice Enhancements with Guaranteed Rates for Independent and Financial Institution Distribution
{November 21st, 2024} by United Life Insurance Company
CEDAR RAPIDS, Iowa–(BUSINESS WIRE)–United Life Insurance Company, a Kuvare company, has launched three new crediting options for its WealthChoice Fixed Indexed Annuity (FIA), available starting November 18th. Known for its growth, income, safety, and flexibility, WealthChoice incorporates strategies that protect clients from market volatility and low-interest rates, while also providing opportunities for growth. The enhancements […]
Athene hits record fixed-indexed annuity sales in just 9 months
{November 21st, 2024} by John Hilton
Athene Life & Annuity does fixed-indexed annuity sales better than anyone and it showed during the third quarter. In the retail channel, year-over-year sales increased nearly 40% to more than $9 billion, which CEO James Belardi credited to strong FIA and multi-year guaranteed annuity products, “as well as product and distribution expansion.” On a year-to-date […]
Life Health Annuities Yes, Life and Annuity Issuers Can Suddenly Collapse, Treasury Risk Tracker Warns
{November 21st, 2024} by Allison Bell
A team that helps the U.S. Treasury Department monitor potential threats to the financial system is scoffing at the idea that life and annuity issuers are immune to “runs on the bank” and other causes of sudden failure. The department’s Office of Financial Research has included a new section on how life insurers can collapse […]
Calif. insurance dept. slammed on alleged failure to provide annuity sales complaint data
{November 21st, 2024} by Rayne Morgan
The Life Insurance Consumer Advocacy Center has taken issue with the California Department of Insurance’s refusal to provide consumer complaint data related to new annuity sales legislation. Brian Brosnahan, co-founder and executive director, LICAC, asserted his group has a “legal right” to the information, which they have been requesting for months without success. “We are […]
IUL: Definitions you should know
{November 21st, 2024} by Drew Gurley
The many variations of universal life insurance are almost always confusing to clients and, often, their agents. One of the most confusing is indexed universal life. In this article, we define the primary components of an IUL policy and provide guidance on how to communicate them to clients. Click HERE to read the full story […]
Lindberg request for residential detention hit by prosecutors
{November 21st, 2024} by Doug Bailey
Greg Lindberg, former head of Bankers Life Insurance Co., and convicted of a multi-billion-dollar bribery and fraud scheme, wants to serve his sentence at a cozy halfway house near his home in Tampa, Florida, instead of federal prison. But government prosecutors say, “no way.” In a filing with the U.S. District Court for the Western […]
Apollo CEO Worries About Insurers Heading to Cayman Islands
{November 21st, 2024} by Allison Bell
Capital counting rules for life insurance and annuity issuers are much looser in the Cayman Islands than in the United States or Bermuda, according to Marc Rowan, the CEO of Apollo Global Management. Outside observers are right to ask questions when life and annuity issuers channel business through companies based in the Cayman Islands, Rowan […]
FINRA Files to Raise Fees Starting in 2025
{November 21st, 2024} by Melanie Waddell
The Financial Industry Regulatory Authority has announced that broker-dealers of all sizes will face an annual fee increase over the next five years. The median large firm will pay 5.4% more in annual fees, phased in gradually starting in 2025. The increase will help FINRA combat revenue challenges. Click HERE to read the full story […]
Creating the Preeminent Partnership — With Bruce Donaldson
{November 21st, 2024} by Paul Feldman
The genie is out of the bottle when it comes to the marriage of protection and accumulation in providing true holistic financial planning, says Bruce Donaldson, partner and CEO of the Simplicity Group, a leading financial products distribution firm. Since its formation in 2016, Simplicity has continued to build its success through a series of acquisitions, […]
Where does Greg Lindberg rank among all-time life insurance fraudsters?
{November 21st, 2024} by John Hilton
The story of Greg Lindberg includes spectacular success in the private equity world, followed by allegations of a hedonistic lifestyle funded by $2 billion siphoned off life insurance companies he acquired along the way. Lindberg’s empire would crack in 2018 when North Carolina Insurance Commissioner Mike Causey wore a recording device to help the FBI […]
When LTC planning takes an unexpected turn
{November 21st, 2024} by Mary Sizemore
November is Long-Term Care Awareness Month — recognized since 1991 to highlight the emotional, physical and financial toll of long-term care and to encourage proactive planning. This month is an ideal opportunity to initiate the long-term care conversation with your clients. After all, the more informed they are, the better they can prepare. Click HERE […]
Area Insurance Professional Receives “Noble Achievement Award”
{November 21st, 2024} by The Resource Center
Springfield, MO, November 15, 2024 –(PR.com)– Neil Bruce Porter Receives Highest Honorary Award from American Equity, a Top Fixed Index Annuity Provider American Equity Investment Life Insurance Company®, a leading issuer of fixed index and fixed rate annuities, announces Neil Bruce Porter, President, Advisor, and Founder of The Resource Center Inc., in Springfield, Mo., earns one […]
12 New Findings on Spending in Retirement
{November 21st, 2024} by Michael S. Fischer
Lack of sufficient savings, inflationary pressures and rising credit card debt are contributing to dampened spending by retirees, according to a new study from the Employee Benefit Research Institute. “Compared with 2020, fewer retirees indicated that they would spend down all or a significant portion of their financial assets over the course of their retirement,” Bridget Bearden, […]
Annuity Beneficiary Sues Reinsurer Over Payment Timing
{November 21st, 2024} by Allison Bell
A federal lawsuit could affect how much flexibility, if any, life insurers and reinsurers have to stretch the terms of old contracts to make products easier and cheaper to administer. The plaintiff in the case, Anthony Ortiz-Diaz, is suing Wilton Reassurance Life Company of New York and related companies over the reinsurer’s decision to process […]
What To Do At LTC Claim Time? Stop.
{November 21st, 2024} by Claude Thau and Ramona Neal
They are your clients, and they will have questions. Naturally, your inclination is to help—even if they didn’t purchase the long-term care policy from you. Instead, first stop. Stop, to avoid overcommitting. To be clear, the point of stopping is not for clients to delay submitting their claim. The point is to be thoughtful and […]
People And Their Money
{November 21st, 2024} by David J. Murphy
The origin of this quote is disputed, but it is commonly attributed to an English poet and playwright named Thomas Tusser. Tusser lived from 1524 to 1580. The proverb describes people who are foolish enough to spend money too quickly on unimportant things. An even more ancient proverb states it similarly: “Precious treasure and oil […]
Glen Hall Obituary
{November 21st, 2024} by Legacy.com
It is with heavy hearts that we announce the passing of Glen Gerard Hall, 63, of Ankeny, Iowa, on November 16, 2024, after a hard-fought battle with cancer. Glen passed away peacefully at home, in the presence of his adoring wife and children, on his father’s 95th heavenly birthday. Click here for Glen Hall’s obituary […]
Nationwide boosts annuity offerings with new index options
{November 21st, 2024} by Leo Alamazora
The retirement giant is extending its guaranteed income shelf with fixed-income annuity options from Loomis Sayles and Annexus. Click HERE to read the full story via InvestmentNews
Nevada joins nationwide push for best interest annuity rule
{November 21st, 2024} by Leo Alamazora
Nevada has officially joined 47 other states in adopting a best interest standard for annuity transactions, further strengthening consumer protections for retirement savers. Click HERE to read the full story via InvestmentNews
I’m a 70-Year-Old Retiree With $90K in an Annuity. Am I Doomed? Suze Orman Responds
{November 21st, 2024} by Laura Bogart
Retirement is often portrayed as the golden years of life. From stock photos of laughing, silver-haired couples riding bicycles to social media posts of that woman from your book club on her grand European vacation, we’re bombarded with the idea that adventure is waiting the moment you clock out for the last time. But adventure […]
World’s Tallest Known Elected Official to Lead NAIC in 2025
{November 21st, 2024} by Allison Bell
Members of the National Association of Insurance Commissioners elected Jon Godfread, the North Dakota insurance commissioner, to be their 2025 president Tuesday at a meeting in Denver. Godfread was first elected to the North Dakota commissioner post in 2016. He won reelection this year without facing an opponent in the primary or in the general […]
Here’s How Protective Aspirations Variable Annuity Can Adapt to Fit Client Needs
{November 21st, 2024} by Special to VettaFi
Retirement income planning often brings a host of concerns, from ensuring guaranteed income to navigating the uncertainty of future financial needs. Protective® Aspirations variable annuity can provide financial professionals’ clients with both guaranteed lifetime income and the ability to pivot when needs change during retirement. Need more income in the early years of retirement? Concerned […]
AM Best Affirms Credit Ratings of Ameriprise Financial, Inc. and Its Subsidiaries
{November 21st, 2024} 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 ICRs) of “aa-” (Superior) of RiverSource Life Insurance Company (Minneapolis, MN) and its wholly owned subsidiary, RiverSource Life Insurance Co. of New York (Albany, NY). These companies represent the key life/health (L/H) insurance subsidiaries of […]
Trump’s Win Made States’ New Annuity Sales Rules a Big Deal
{November 21st, 2024} by Allison Bell
State insurance regulators are deciding now how the new annuity sales standards states have been rushing to adopt will really work. Members of the Annuity Suitability Working Group plan to discuss one key point — how the update affects annuity recommenders who are under the jurisdiction of the U.S. Securities and Exchange Commission — in Denver at […]
Brighthouse Financial completes key reinsurance deal for legacy annuities
{November 21st, 2024} by Kenneth Araullo
Brighthouse Financial has announced the completion of a reinsurance transaction with a third-party reinsurer for a legacy block of its fixed and payout annuities. The company had previously discussed the transaction during its earnings call for the quarter ending September 30, 2024, held on November 8, 2024. Click HERE to read the full story via […]
Integrity to Acquire Innovative Underwriters from Guardian in Historic Partnership to Provide Financial Professionals with Best-in-Class Platform Solutions
{November 21st, 2024} by Integrity Marketing Group, LLC
DALLAS, Nov. 19, 2024 /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 a definitive agreement to acquire Innovative Underwriters, a brokerage general agency based in New York City and a subsidiary of The Guardian Life Insurance Company of America® (“Guardian“). Following the […]
Annuity Payments Hit Record $104 Billion With Retirement Surge
{November 21st, 2024} by Austin R. Ramsey
Insurance companies paid out a record $104 billion in annuity benefits in 2023, up 9% over the prior year as high interest rates and a surge in retirees fueled new sales, according to research by the American Council of Life Insurers released Wednesday. More Americans are reaching retirement age than at any other time in […]
Gen Re Releases 2024 U.S. Individual Life Accelerated Underwriting Survey Results
{November 21st, 2024} by Gen Re
STAMFORD, Conn.–(BUSINESS WIRE)–Gen Re has released results of the 2024 U.S. Individual Life Accelerated Underwriting Survey. This comprehensive survey covers topics including: throughput rates, sources of underwriting evidence, mortality experience, and pre-/post-issue auditing tools. Thirty-eight Individual Life insurance carriers participated in this study. Gen Re recognizes that carriers may be at varying stages of implementation with […]
TGA Financials and Integrity Partner to Bring Exceptional Service and Expansive Financial Literacy to More Americans
{November 21st, 2024} by Integrity Marketing Group, LLC
DALLAS, Nov. 13, 2024 /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 partnered with TGA Financials, an independent marketing organization based in The Woodlands, Texas, and led by Jose and Marlene Gaytan. Financial details of the partnership were not disclosed. […]
AM Best Downgrades and Withdraws Credit Ratings of Upstream Life Insurance Company
{November 21st, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B- (Fair) and the Long-Term Issuer Credit Rating to “b” (Marginal) from “bb-” (Fair) of Upstream Life Insurance Company (Upstream Life) (Dallas, TX). In addition, the outlook of these Credit Ratings (ratings) have been revised to negative from stable. Concurrently, AM Best […]
InsurTech Market to Grow by USD 77.41 Billion (2024-2028), Driven by the Need to Improve Business Efficiency, with AI Redefining Market Landscape – Technavio
{November 21st, 2024} by Technavio
NEW YORK, Nov. 19, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global insurtech market size is estimated to grow by USD 77.41 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 42.35% during the forecast period. Increasing need to improve business efficiency is driving market growth, with a trend towards investors […]
Life insurance new premium surges 8% in third quarter, LIMRA finds
{November 15th, 2024} by Staff Reports
Total new annualized premium jumped 8% to $3.9 billion in the third quarter 2024, according to preliminary results from LIMRA’s retail individual life insurance sales survey. The number of policies sold rose 3% year over year in the third quarter. Year to date, new premium topped $11.6 billion, up 2% over the prior year’s results. […]
Long term care insurance: get it.
{November 15th, 2024} by Sheryl J. Moore
My Dad is 68. He is a Navy vet. His Dad died after a long fight with Alzheimer’s. Today I found out that my Dad now has it too. Dad is being transferred to a nursing home, as we speak. He has no long term care insurance. Seventy percent of adults who survive to age […]
New lawsuit accuses National Life of misleading IUL illustrations
{November 13th, 2024} by John Hilton
Sheryl Moore is president and CEO of Moore Market Intelligence and Wink, Inc. Although she is a persistent critic of misleading illustrations, Moore took note of the timing of the Virani lawsuit. “I find it very interesting that the lawsuit was filed just over one year after the policy was issued,” she said. “Plus, consumers […]
Getting to know our Maestro of Web Design & App Magic
{November 13th, 2024} by Wink's Intel Pros
Daniele Longo spends her days hustling up a robust website design at Wink and she used to translate Portuguese documents into English as a side hustle. Interestingly, instead of slinging code, she once contemplated becoming a flight attendant! Want to hear more about the Brazilian transplant? Click HERE to read on!
Full Stack JavaScript Developer, Des Moines Metropolitan Area
{November 13th, 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, […]
We don’t get all of the facts, but I appreciate the viewpoint of two professionals
{November 13th, 2024} by Sheryl J. Moore
A MarketWatch article, ‘We now realize what a horrible mistake this was.’ Almost 10 years ago, we bought three $100K annuities that guaranteed 5%. Now we want out. What’s the move? asks: “We now realize what a horrible mistake this was.’ Almost 10 years ago, we bought three $100K annuities that guaranteed 5%. Now we […]
Principal® names Deanna Strable next president and CEO
{November 13th, 2024} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) today announced the Board of Directors has appointed president and chief operating officer Deanna Strable as the company’s next president and chief executive officer, effective January 7, 2025. Strable succeeds Dan Houston, who will continue to serve as executive chair of the Board. “I’m incredibly proud of the […]
F&G Annuities & Life Reports Third Quarter 2024 Results
{November 13th, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, Nov. 6, 2024 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company) a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today reported financial results for the third quarter ended September 30, 2024. Net loss attributable to common shareholders (net loss) for the third quarter was $10 million, or $0.08 per […]
Term Life Activity Keeps Booming
{November 13th, 2024} by Allison Bell
Term life policies were more popular with U.S. consumers applying for individual life insurance in October and universal life policies were not, according to new application activity data from MIB Group. MIB, an organization that helps life insurers share some of the information used in the underwriting process, says consumers filed 13% more applications for […]
NASAA wants to limit who can call themselves ‘advisors’
{November 13th, 2024} by Dan Shaw
State regulators are considering new restrictions that would prevent just anyone in the financial services industry from taking on the label “advisor.” And they’re also proposing a new best interest conduct standard similar to the one that now applies to broker-dealers at the federal level. But before they adopt anything, they want to hear what […]
Allianz Records 14 Percent Operating Profit Growth for Third Quarter 2024
{November 13th, 2024} by Allianz SE
MUNICH–(BUSINESS WIRE)–November 13, 2024 3Q 2024: Total business volume advances 17.3 percent to 42.8 billion euros Operating profit increases 13.6 percent and reaches 3.9 billion euros, attributable to very good results in the Property-Casualty segment Shareholders’ core net income reaches 2.5 billion euros, an increase of 23.0 percent 9M 2024: Total business volume rises 9.6 […]
Jackson Announces Third Quarter 2024 Results
{November 13th, 2024} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced its financial results for the third quarter ended September 30, 2024. Third quarter 2024 results reflect strong growth in sales, earnings, capital generation and capital return Retail annuity sales of $5.3 billion in the third quarter of 2024, up 59% from the third quarter of […]
Independent agents have high insurer satisfaction despite market challenges, study finds
{November 13th, 2024} by Doug Bailey
Despite one of the most challenging markets in history, independent insurance agents are nevertheless more satisfied than ever with insurers, according to a new survey. Rising rates, insurer exits, frustrated consumers, and difficulties have created a tumultuous market. Yet agent satisfaction with insurance companies has been robust, particularly in the commercial lines sector. Click HERE […]
AM Best Affirms Credit Ratings of Nationwide Mutual Insurance Company and Its Key Operating Subsidiaries
{November 13th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of the members of Nationwide Property and Casualty Group (Nationwide P&C Group). Concurrently, AM Best has affirmed the FSR of A+ (Superior) and the Long-Term ICRs of “aa-” (Superior) of Nationwide […]
Brighthouse Financial Announces Third Quarter 2024 Results
{November 13th, 2024} by Brighthouse Financial, Inc
CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Results The company reported net income available to shareholders of $150 million in the third quarter of 2024, or $2.47 per diluted share, compared with net income […]
Brighthouse Financial Announces Completion of Reinsurance Transaction
{November 13th, 2024} by Brighthouse Financial, Inc
Brighthouse Financial Announces Completion of Reinsurance Transaction November 08, 2024 04:30 PM Eastern Standard Time CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it has completed a reinsurance transaction with a third party to reinsure a legacy block of the company’s fixed and payout annuities. The transaction was […]
A Real Jump Scare: IUL Premium Financing Is Like the Hotel California of the Life Insurance Business – You Can Check In, But You Can Never Leave
{November 13th, 2024} by Larry J. Rybka
For those who have followed my previous posts, you know I am no fan of premium financed IUL. I have also engaged in three separate industry-sponsored debates on the topic with some of the self-anointed kings of IUL premium finance. All of my posts on this topic have led to an increase in inquiries from […]
‘Asset-intensive’ annuity reinsurance has NAIC’s attention
{November 13th, 2024} by Kerry Pechter
At an Oct. 24 meeting, the NAIC’s Life Actuarial Task Force (LATF) continued to hammer out a new guideline for ‘asset adequacy testing’ of offshore reinsurance reserves. Starting in 2025, it could raise the cost of ‘asset-intensive business’ for U.S. annuity issuers. Click HERE to read the full story via Retirement Income Journal
How ‘Demutualization’ Changed Everything, Part II
{November 13th, 2024} by Kerry Pechter
With demutualization, a life insurer went from being a cooperative aimed at providing its owner-customers with insurance at cost, to being a diversified financial corporation aimed at maximizing value for its shareholder-owners. Those are fundamental changes. The “demutualization wave” of the late 1990s was a watershed for the U.S. life/annuity business. It was the outcome […]
Here’s how to help bridge your retirement income gap
{November 13th, 2024} by Caitlin Cahalan
Planning for retirement is a multi-decade process that must include considerations regarding inflation, market fluctuations, and risk tolerance. With the cost of living skyrocketing and the fate of Social Security unclear, 401(k)s, IRAs, and 403(b)s may not be enough to sustain consumers through retirement. The possibility of outliving retirement savings has become more prevalent, forcing Americans to adjust their investment […]
Apollo Projects $10 Billion of Earnings in Five Years
{November 13th, 2024} by Allison McNeely
(Bloomberg) — Apollo Global Management Inc. expects to generate $10 billion of annual earnings across its asset management and retirement businesses by 2029, driven by investor demand for private credit and annuities. Fee-related earnings are forecast to grow 20% on average annually for the next five years, while earnings at its Athene insurance arm […]
Wade Pfau & Michael Finke on Using Annuities to Optimize Retirement
{November 13th, 2024} by Brad Pistole
In this conversation, Brad Pistole hosts Dr. Michael Finke and Dr. Wade Pfau, two experts in retirement planning. They discuss the importance of guaranteed income, the shift from traditional bonds to annuities, and the concept of mortality credits. The discussion also covers the RISA assessment tool for retirement planning and offers practical advice for pre-retirees […]
An Advisor’s Choice: Generate Life Insurance Premiums or Assets Under Management?
{November 13th, 2024} by Charles L. Ratner
“Unless there’s a need for liquidity, we don’t want our clients putting money into permanent life insurance. We want that money here as assets under management.” I first heard that said over 30 years ago by an investment advisor who didn’t sell life insurance. I understood their point of view.Fast-forward three decades, and I still […]
National Life Accused of Racketeering in IUL Lawsuit
{November 13th, 2024} by Warren S. Hersch
National Life certainly isn’t the first carrier to be sued for alleged misrepresentations in the sale of an indexed universal life insurance policy, but it may be the first one facing a lawsuit that claims the conduct amounted to racketeering. Click HERE to read the full story via LifeAnnuitySpecialist Wink’s Moore on the Market: I […]
Annuity.com, Inc. Announces Partnership with ECA Marketing to Expand Agent Services
{November 13th, 2024} by Annuity.com
GILBERT, Arizona – November 5, 2024 – Annuity.com, Inc., a leading fintech and financial media company, announced today a strategic partnership with ECA Marketing. This new partnership will provide Annuity.com agents the opportunity to offer life insurance products including advanced planning products, and will deliver agents marketing, case design, illustration and contracting. “Through this […]
California insurance department accused of hiding information on life insurance complaints
{November 13th, 2024} by Ethan Baron, Bay Area News Group, San Jose Mercury News
A Bay Area consumer-advocacy group claims California’s Department of Insurance is violating state public-records law by refusing to hand over important data on consumer complaints about life insurance. The Pleasant Hill-based non-profit Life Insurance Consumer Advocacy Center called the department’s purported violation of the California Public Records Act “inexcusable.” The department did not immediately respond to requests for comment. Click HERE […]
Brighthouse execs talk up new hedging program, break reinsurance news
{November 13th, 2024} by John Hilton
Main takeaway: Concern over a sliding risk-based capital ratio continued during the third quarter for Brighthouse Financial. President and CEO Eric Steigerwalt had candidly told Wall Street analysts on a second-quarter call that the insurer was disappointed with its underlying financials and a 380% to 400% RBC ratio. Insurers generally like to operate with a 400% to […]
Corebridge Financial tallies strong annuity, life sales numbers in Q3
{November 13th, 2024} by John Hilton
Corebridge Financial is a late entrant to the red-hot registered indexed-linked annuity market, but the insurer is not taking a backseat. Executives touted the recent launch of its MarketLock RILA during a third-quarter call Tuesday with Wall Street analysts. The product makes Corebridge the biggest annuity seller to offer products in every major category. Click […]
‘Everything worked’: Apollo touts a 16% increase in AUM during Q3
{November 13th, 2024} by John Hilton
Commitment to the high-net-worth market drove Apollo Global Management to a massive increase in assets under management during the third quarter. The firm’s assets under management ballooned to $733 billion, a 16% increase over the year-ago quarter. It is part of a “play to win” strategy that includes ambitious targets like average annual 20% fee-related […]
Jackson Financial climbs RILA sales charts with another strong quarter
{November 13th, 2024} by John Hilton
As a longtime leader in the variable annuity space, it seemed inevitable that Jackson Financial would master the registered indexed-linked annuity. Despite a late entry in the red-hot RILA space, Jackson is hitting its stride with its Market Link Pro. The insurer backed up $1.4 billion in Q2 RILA sales with another $1.6 billion in […]
Greg Lindberg changes course, pleads guilty to $2 billion fraud
{November 13th, 2024} by John Hilton
The lengthy saga of troubled financier and onetime Bankers Life Insurance Co. owner Greg Lindberg entered a new phase Tuesday when Lindberg pleaded guilty to engineering a $2 billion fraud. Lindberg, convicted for a second time in May of trying to bribe North Carolina Insurance Commissioner Mike Causey, also pledged to help a special master […]
Integrity Awarded Best Company Outlook Award Based on Employee Ratings of the Company’s Ongoing Bright Future
{November 13th, 2024} by Integrity Marketing
DALLAS – NOVEMBER 7, 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 been awarded Best Company Outlook from Comparably, a leading workforce surveyor and employee sentiment platform. The award recognizes companies rated by employees as holding significant […]
Greg Lindberg plea deal reached on federal fraud charges
{November 13th, 2024} by John Hilton
Greg Lindberg is scheduled to accept a plea deal to satisfy fraud charges Tuesday in a North Carolina courtroom, according to court documents. The deal would terminate one of the many civil and criminal cases against Lindberg. Details of the plea agreement were sealed by the Western District of North Carolina. Click HERE to read […]
Transaction to boost RBC ratio, aligning with strategic capital aims
{November 13th, 2024} by Kenneth Araullo
Brighthouse Financial has announced the completion of a reinsurance transaction with a third-party reinsurer for a legacy block of its fixed and payout annuities. The company had previously discussed the transaction during its earnings call for the quarter ending September 30, 2024, held on November 8, 2024. Click HERE to read the full story via […]
What role do commissions now play for advisors?
{November 13th, 2024} by Josh Welsh
InvestmentNews survey highlights almost half of advisors continue to be compensated by commissions despite model often being publicly denounced. Click HERE to read the full story via InvestmentNews. Wink’s Moore on the Market: I have to admit InvestmentNews has me stumped with this one. What about the many hybrid RIAs that collect commissions AND do […]
T. Rowe Price Watches Some Variable Annuity Assets Fade Away
{November 13th, 2024} by Allison Bell
Changes in the U.S. individual annuity market are reshaping the pools of assets T. Rowe Price manages for life insurers. Rob Sharps talked about the changes Friday, during a conference call with securities analysts. T. Rowe sees attractive opportunities to managed more fixed income assets for life insurers, Sharps said. Click HERE to read the […]
Northwestern Mutual Capital co-investment offering raises over $470 million, exceeding fundraising target
{November 13th, 2024} by Northwestern Mutual
MILWAUKEE, Nov. 7, 2024 /PRNewswire/ — Northwestern Mutual Capital (NMC), which manages approximately $19 billion of private equity-related assets, today announced it has closed on fundraising for its Northwestern Mutual Capital Equity Fund VII and its parallel fund, which secured $473 million in commitments. Equity Fund VII is expected to invest directly in middle-market companies located across North America and Western Europe. This fund […]
Group 1001 Welcomes Tony Marichal as Vice President of Annuity Operations
{November 13th, 2024} by Group 1001
ZIONSVILLE, Ind.–(BUSINESS WIRE)–Group 1001, a leading financial services company, announces Tony Marichal as Vice President of Annuity Operations of Group 1001 Life & Annuity. Reporting to Chief Operating Officer Martin Woll, Marichal oversees the annuity operations for two Group 1001 companies, Delaware Life Insurance Company and Clear Spring Life and Annuity Company. He is responsible […]
AM Best Affirms Credit Ratings of Standard Insurance Company and its Affiliate Companies, and Pacific Guardian Life Insurance Company, Limited
{November 13th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of Anthem Life Insurance Company (Indianapolis, IN), Greater Georgia Life Insurance Company (Atlanta, GA) and Anthem Life & Disability Insurance Company (New York, NY). These companies are collectively known as Standard […]
Finseca Flash
{November 13th, 2024} by Finseca Flash
It looks like President-elect Donald Trump won in historic fashion becoming the first Republican to win the popular vote in twenty years. It also looks like Republicans will control the U.S. Senate with at least 52 seats — meaning, Trump will be able to get his Cabinet in place and nominations across without Democrat support. […]
DPL teams up with Envestnet for data integration
{November 13th, 2024} by DPL Financial Partners
LOUISVILLE, KY, Nov. 12, 2024- DPL Financial Partners, the leading platform for commission-free annuities, today announced its live data integration with advisor technology provider Envestnet. The integrated feed allows users on Envestnet’s Wealth Management Platforms for advisors to report on annuity and insurance products on their platforms. “Our integration with Envestnet is a key step […]
5 Ways Trump’s Election Could Affect Life and Annuity Players
{November 13th, 2024} by Allison Bell
Donald Trump won a second term in the White House Tuesday, Republicans took back control of the Senate, and Republicans appeared to be on track to hold on control of the House. How could that affect the companies that write life insurance and annuities, the clients that use the products, and the financial professionals who help […]
Ameriprise Plans to Keep Its Long-Term Care Insurance Block
{November 13th, 2024} by Allison Bell
Ameriprise Financial likes its closed block of long-term care insurance policies and has no plans to make a deal to get rid of it. Walter Berman, the Minneapolis-based company’s chief financial officer, stood up for the company’s LTCI block last week during a conference call with securities analysts. Ameriprise analysts looked carefully at opportunities to […]
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 […]
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 […]
“And here we are 25 years later, and people are still struggling with it.”
{October 29th, 2024} by The Annuity Show
The Annuity Show– join host Paul Tyler and Sheryl J. Moore in Episode 242.
Jackson gives a new spin on its investment-focused VAs, with guaranteed account balance option
{October 29th, 2024} by Staff
Data from Wink, Inc. show that the rider has spousal continuation for the different annuities on which it is available. Those who opt for the rider must allocate at least 30 percent of their contract’s assets to a fixed option, and it is not available in conjunction with Jackson’s Earnings Max Death Benefit, according to […]
Annuity sellers need to work harder to satisfy customers, J.D. Power finds
{October 29th, 2024} by John Hilton
A new J.D. Power survey finds that 43% of producers fill out annuity applications for their clients. Not surprisingly, they are the buyers least likely to understand what they bought. The majority (59%) of current annuity customers struggle with their financial health and many do not fully understand the products they are buying, concluded the J.D. […]
With lives saved, Hancock expands its longevity view of life insurance
{October 29th, 2024} by Doug Bailey
Kelley King thought taking a five-minute blood test called Galleri offered by his life insurance company would qualify him for points that would win him a premium discount. By joining the health program, he’d already qualified for a free Apple Watch, so he figured the blood test might push him into “Platinum” status and make […]
IUL: What you need to know about commissions
{October 29th, 2024} by Drew Gurley
Flexibility in a life insurance policy is a great benefit for customers. It’s a big reason why the wide range of universal life products have been so popular. However, flexibility in insurance often brings with it a more complex product, which can cause problems for both customers and agents. Among the family of universal life […]
AM Best ratings face pushback from some insurers
{October 29th, 2024} by Doug Bailey
The market dominance and fairness of the world’s oldest credit rating agency, AM Best, has come under fire recently as some insurers have questioned its methods and bemoaned its stranglehold on the industry. AM Best, which has provided insurance industry credit reviews since 1899, is considered the “gold standard” in ratings, akin to the Good […]
KKR incorporates annuity company into massive investing juggernaut
{October 29th, 2024} by John Hilton
Main takeaway: Three areas contributed to KKR’s massive third-quarter financial performance, executives said today. KKR’s bottom-line numbers sparkled: Adjusted net income rose 58% to $1.24 billion, easily topping Wall Street expectations. Fee-related earnings rose 79% to a record $1 billion, driven by management fees and fees for arranged financing. Click HERE to read the full […]
Women tend to seek other women’s advisor recommendations, Edward Jones finds
{October 29th, 2024} by Steve Randall
With women controlling more wealth in the US today, the importance of advisors ensuring they offer a service that works for female clients is clear, and that includes how it impacts referrals. Click HERE to read the full story via InvestmentNews Wink’s Moore on the Market: We need more women in this business! Here’s […]
This book is just the icing on the cake.
{October 29th, 2024} by Sheryl J. Moore
Guess what? I found out who sent me “The Handbook of Retirement Income!” Background: my subscription to Retirement Income Journal recently lapsed. I cannot miss an issue of Kerry Pechter‘s RIJ; I read it religiously. So, I re-subscribed. Unbeknownst to me- subscribers to “Retirement Income Journal,” who pay for an annual subscription, receive a complimentary […]
Is America headed for a retirement crisis?
{October 29th, 2024} by Gregg Greenberg
John Hancock Retirement CEO Wayne Park weighs in on America’s retirement readiness. Click HERE to read the full story via InvestmentNews Wink’s Moore on the Market: “Most respondents feel like their retirement is a priority, yet just north of 25 percent feel like they’re on track. And that’s definitely the story for the Gen […]
‘I own my home’: I’m 74 with $300,000 in annuities and live modestly. What should I do with my retirement savings?
{October 29th, 2024} by Alessandra Malito
What would you suggest I should do with my retirement savings? I have $300,000-plus invested in insurance annuities maturing this month. They have been doing OK and I figured annuities would be the safest bet, as I am not very savvy with the stock markets. Click HERE to read the full story via MSN […]
National Retirement Security Month: A time for pre-retirees to come up with a ‘formal written plan’
{October 29th, 2024} by Lynn Cavanaugh
October is National Retirement Security Month, a time for financial advisors to encourage consumers nearing retirement to take actionable steps toward their future financial security – and that means help them come up with a formal written retirement plan. Six in 10 retirees and pre-retirees say they would be willing to pay $100 or more for a […]
Ameriprise Plans to Keep Its Long-Term Care Insurance Block
{October 29th, 2024} by Allison Bell
Ameriprise Financial likes its closed block of long-term care insurance policies and has no plans to make a deal to get rid of it. Walter Berman, the Minneapolis-based company’s chief financial officer, stood up for the company’s LTCI block last week during a conference call with securities analysts. Click HERE to read the full story […]
Annuities Aren’t the Problem. Commissions Are.
{October 29th, 2024} by Kenneth Corbin
Within the financial services world, few products kindle stronger opinions than annuities. The promise of lifetime income is undeniably alluring at a time of mounting anxiety about the solvency of Social Security and when individuals are more responsible than ever for funding their own retirement. Click HERE to read the full story via MSN. […]
NAIFA celebrates Long Term Care Awareness Month
{October 29th, 2024} by NAIFA
November is National Long-Term Care Awareness Month, an annual campaign to raise awareness about the need for long-term care (LTC) planning and the financial, emotional, and physical impacts associated with it. The campaign is aimed at educating the public about the importance of preparing for the potential need for long-term care services, which include assistance […]
Even Commissioned Advisors Think Annuity Sales Need Fiduciary Standard
{October 29th, 2024} by Tracey Longo
As Americans scramble to fund 30 years of retirement, their quest for guaranteed income has led them to annuities, doubling sales in the industry over the past four years to $1.3 trillion. That’s likely to accelerate as some 13,000 Americans turn age 65 each day. But what most consumers don’t know is the insurance brokers […]
F&G Annuities & Life Announces Third Quarter 2024 Earnings Release and Conference Call
{October 29th, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, Oct. 23, 2024 /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 third quarter 2024 earnings after the close of regular market trading on Wednesday, November 6, 2024. A webcast and conference call to discuss the results will follow […]
Fidelity National Financial Announces Third Quarter 2024 Earnings Release and Conference Call
{October 29th, 2024} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Oct. 23, 2024 /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, publicly traded subsidiary F&G Annuities & Life, Inc. (NYSE:FG) (“F&G”), […]
Principal Financial Group Announces Third Quarter 2024 Results
{October 29th, 2024} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced results for third quarter 2024. Third Quarter 2024 Highlights Net loss attributable to Principal Financial Group (PFG) of $220 million, or $0.95 per diluted share, driven by the loss from exited business Non-GAAP net income attributable to PFG, excluding exited business, of $419 million, or $1.78 per […]
Marketing Communications Specialist: Legacy Marketing Group
{October 29th, 2024} by Legacy Marketing Group
Job Title: Marketing Communications Specialist Reports To: Jennaca Markoe, Communications Manager Department: Marketing Communications Position Type:: Full-time, exempt, remote Hours: 8:00 am – 5:00 pm PST Salary Range: $72,000 – $79,000 Position Summary: An integral member of the Communications Team, the Marketing Communications Specialist will be responsible for strategizing marketing campaigns and initiatives, developing marketing […]
Barclays Transitions Indices, Available Exclusively on North American Annuities, win 2024 Annuity Index of the Year by SRP Americas
{October 29th, 2024} by Sammons Financial Group
WEST DES MOINES, Iowa–(BUSINESS WIRE)–North American Company for Life and Health Insurance® (North American), a member company of Sammons® Financial Group and one of the largest issuers of fixed index annuities (FIAs) in the U.S.1, announces that the Barclays Transitions Indices, available exclusively on their suite of fixed index annuities, has won “Annuity Index of the Year” by SRP Americas. […]
Ameriprise Financial Reports Third Quarter 2024 Results
{October 29th, 2024} by Ameriprise Financial, Inc.
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share Return on Equity, ex AOCI (1) Q3 2024 Q3 2024 GAAP $ 5.00 GAAP 40.1 % Adjusted Operating $ 8.10 Adjusted Operating 49.6 % Adjusted Operating, excluding unlocking and severance expense $ 9.02 Adjusted Operating, excluding […]
WORST and most egregious video on indexed life that you have seen.
{October 23rd, 2024} by Sheryl J. Moore
WORST and most egregious video on indexed life that you have seen. GO! -sjm Share the links and see the list growing over on LinkedIn HERE.
TikTok, YouTube videos mislead viewers on life insurance, critics say
{October 23rd, 2024} by John Hilton
A recent routine service call led to a discussion on indexed universal life insurance between noted industry analyst Sheryl Moore and the visiting technician. The man asked Moore – who founded Moore Market Intelligence and Wink, Inc. – if she has ever heard of “indexed permanent life insurance.” He had been listening to product pitches […]
For those looking for more than a snippet on these rapidly-growing lines of business, these manuscripts are a great place to start.
{October 23rd, 2024} by Sheryl J. Moore
Just sold 200 copies of “Why I Bought Indexed Annuities” to an FMO. Agents love it. Prospects love it. I LOVE IT!
F&G’s Fifth Annual Risk Tolerance Tracker Finds Inflation, U.S. Presidential Election and Cyberfraud Top of Mind for American Investors
{October 23rd, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, Oct. 16, 2024 /PRNewswire/ — American investors1 are keeping a close eye on the economy and the nation’s capital according to a new survey from F&G Annuities & Life, Inc. (NYSE: FG) (F&G), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients. F&G’s fifth annual Risk Tolerance Tracker asked American investors […]
Jackson Adds Guaranteed Minimum Accumulation Benefit to Elite Access® Variable Annuity Suite
{October 23rd, 2024} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc.1 (NYSE: JXN), today launched Principal Guard, an add-on guaranteed minimum accumulation benefit (GMAB) available for an extra charge in the Elite Access® Suite of variable annuities. The new GMAB offers clients the ability to invest their money with no downside risk through a selected […]
24 Facts That Illuminate Women’s Precarious Retirement Prospects
{October 23rd, 2024} by Transamerica Center for Retirement Studies
New report examines the retirement risks, realities, and preparations of women workers LOS ANGELES, Oct. 22, 2024 /PRNewswire/ — Only 16% of women workers are “very confident” that they will be able to fully retire with a comfortable lifestyle, according to 24 Facts About Women’s Retirement Outlook, a survey report released today by nonprofit Transamerica Center for Retirement Studies® (TCRS) in […]
OneAmerica Financial® Launches Asset Care® 2024
{October 23rd, 2024} by OneAmerica Financial
INDIANAPOLIS, Oct. 21, 2024 /PRNewswire/ — OneAmerica Financial® is proud to announce the launch of Asset Care® 2024 (Asset Care), an enhanced product that can help enable clients to cover long-term care (LTC) expenses if they need it — or leave a financial legacy to their loved ones if they don’t. Solutions delivered with flexibility and care, Asset Care […]
Gainbridge® and RetireOne® Partner to Offer Innovative Annuity Products to Registered Investment Advisors
{October 23rd, 2024} by Gainbridge
ZIONSVILLE, Ind.–(BUSINESS WIRE)–Gainbridge®, through its Group 1001 affiliate, announced today a partnership with RetireOne, the leading independent platform in the annuity marketplace for registered investment advisors (RIAs). RetireOne, an outsourced insurance desk, provides RIAs and their customers valuable solutions that are simple to use, easy to understand, and delivered with outstanding service. RIAs now have […]
MassMutual Becomes First U.S. Insurer to Offer Policyowners Free Access to AI-Guided Mental Health Support
{October 23rd, 2024} by MassMutual
SPRINGFIELD, Mass. & BOSTON–(BUSINESS WIRE)–MassMutual today announced it is the first insurer in the U.S. to offer eligible policyowners free access to Wysa Assure, an AI-powered conversational mental health app created by Wysa and Swiss Re. This offering is the latest addition to MassMutual’s Health and Wellness Program, which provides policyowners with knowledge about their health, empowers them to seek […]
LPL Blasts Ameriprise Recruiting Suit as ‘Public Relations Stunt’
{October 23rd, 2024} by Dinah Wisenberg Brin
LPL Financial, facing multiple lawsuits by competitor Ameriprise Financial over advisor recruiting practices, fired back in two cases last week, accusing Ameriprise of abusing the courts and trying to chill competition for financial professionals and clients. “This action is a public relations stunt masquerading as a lawsuit,” LPL said in an Oct. 17 filing in U.S. District […]
Why Monte Carlo Is ‘Pretty Terrible’ for Analyzing Annuities
{October 23rd, 2024} by John Manganaro
Financial planners who rely solely on Monte Carlo analyses to weigh the potential role of annuities in retirement income planning are doing their clients a disservice, according to Derek Tharp, the retirement researcher and financial planning expert. Tharp offered this perspective in a new video assessing the retirement income modeling process posted to his YouTube channel. While noting the […]
Client Sues Barred Broker Over ‘Devastating’ Life Insurance Plan
{October 23rd, 2024} by Dinah Wisenberg Brin
Joshua L. Gottlieb, a former securities broker barred by the Financial Industry Regulatory Authority in 2017, faces a lawsuit from a client who alleges he suffered a “devastating” financial loss after buying a recommended life insurance program that was meant to secure a comfortable retirement and provide $12 million for his heirs. Oregon resident Scott Alldridge and […]
An incredible ride — With Integrity CEO Bryan Adams
{October 23rd, 2024} by Paul Feldman
Integrity Marketing Group may not have started in 2006 had it not been for Bryan Adams’ job folding shirts in a shopping mall clothing store while in college. “One day, I was standing there and saw a sharply dressed guy — I’ll never forget him — gray suit, red tie, white shirt. He looked like a […]
Key person insurance: A vital tool for startups
{October 23rd, 2024} by Jonathan Selby
Key person insurance, or contract frustration insurance, is a crucial risk management strategy for startups that rely heavily on specific individuals for their success. This type of insurance provides financial protection in the event of a key employee’s death or disability, ensuring business continuity and mitigating potential financial losses. Let’s review how this policy can […]
