This is not the kind of list that you want to land on.
{February 22nd, 2023} by Sheryl J. Moore
This is not the kind of list that you want to land on. However, Brian O’Connell with TheStreet suggests that VA fees are one of the “worst” fees that consumers pay. Click to read Brian’s Money Experts Say These Are the Worst Consumer Fees. Interesting to see VAs lumped into a list with bank overdraft fees and ATM fees, […]
You’re Probably Wrong About How You’ll Pay for Retirement
{February 22nd, 2023} by Mary Ellen Cagnassola
Think your investments will carry you through retirement? New research says that’s not the reality for the majority of workers in their pre-retirement years. In a recent survey of Americans aged 40 to 85 with at least $100,000 in household investable assets, research trade association LIMRA found that fewer and fewer respondents are confident about […]
AM Best Affirms Credit Ratings of Equitable Holdings, Inc. and Its Life Subsidiaries
{February 22nd, 2023} 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 Equitable Financial Life Insurance Company of America (EFLICOA) (Phoenix, AZ) and Equitable Financial Life Insurance Company (EFLIC) (New York, NY). EFLICOA and EFLIC collectively are referred to as Equitable Life […]
American Equity Ramps Private Asset Allocation to 22% and Achieves Close to $10 billion in Fee-Generating Reinsurance Balances in Fourth Quarter 2022
{February 22nd, 2023} by American Equity Investment Life Holding Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs) today reported its fourth quarter 2022 results. Results in the quarter reflected a lower-than-expected return on mark-to-market assets and higher fee revenues on reinsured account values. American Equity’s President and CEO, Anant Bhalla stated: “The […]
Corebridge Financial Announces Fourth Quarter and Full Year 2022 Results
{February 22nd, 2023} by Corebridge Financial, Inc
HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (“Corebridge” or the “Company”) (NYSE: CRBG) today reported financial results for the fourth quarter and full year ended December 31, 2022. Kevin Hogan, President and Chief Executive Officer of Corebridge, said, “2022 was a year of significant milestones for our company. We rebranded as Corebridge Financial early in the year as […]
AM Best Assigns Credit Ratings to The Ohio State Life Insurance Company
{February 22nd, 2023} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good) to The Ohio State Life Insurance Company (OSL) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect OSL’s balance sheet strength, which AM Best assesses as adequate, as […]
PGA TOUR and Pacific Life Announce Five-year Partnership
{February 22nd, 2023} by Pacific Life
Global Insurance Provider Becomes Official Life Insurance Sponsor of PGA TOUR and PGA TOUR Champions February 21, 2023 01:00 PM Eastern Standard Time PONTE VEDRA BEACH, Fla. & NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life, a leading global life insurance and retirement solutions company, today announced a new five-year partnership with the PGA TOUR as part of […]
AIG Reports Fourth Quarter and Full Year 2022 Results
{February 22nd, 2023} by AIG
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today reported financial results for the fourth quarter and full year ended December 31, 2022. AIG Chairman & Chief Executive Officer Peter Zaffino said: “2022 was an extraordinary year of progress for AIG. We continued to improve the profitability of our General Insurance business, closing the year […]
Prosperity Withdraws Proposal to Acquire American Equity
{February 22nd, 2023} by Prosperity Group Holdings LP
NEW YORK–(BUSINESS WIRE)–Today, Prosperity Group Holdings LP (“Prosperity”) issued the following statement, regarding its proposal to acquire the common shares of American Equity Investment Life Holding Company (“American Equity”) (NYSE: AEL): “Prosperity is withdrawing its proposal to acquire American Equity for $45.00 per share. Given American Equity’s refusal to engage and our desire to proceed […]
Symetra Named One of America’s Best Midsize Employers 2023 by Forbes
{February 22nd, 2023} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra has been recognized by Forbes as a top national employer. The Bellevue, Wash.-based life insurer was named to the Forbes 2023 America’s Best Midsize Employers list, coming in at No. 58 among the top 500 midsize employers nationwide. Based entirely on employee satisfaction and willingness to recommend their employer to others, the designation […]
Simplicity and The Leaders Group Unite to Bring an Unrivaled Service Offering to the Independent Financial Product Distribution Channel
{February 22nd, 2023} by Simplicity Group
SUMMIT, N.J., Feb. 15, 2023 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”) today announced that it has entered into a definitive agreement to acquire The Leaders Group, Inc. (“The Leaders Group”), a national, independent broker-dealer (IBD) located in Littleton, CO. Founded by Dave Wickersham in 1994, The Leaders Group is a leading broker-dealer for brokerage general agencies and independent financial advisors. […]
WeBuy75.com Launches Advanced Life Expectancy Calculator for Life Insurance Industry
{February 22nd, 2023} by WeBuy75
ATLANTA, Feb. 14, 2023 /PRNewswire/ — WeBuy75.com, a life settlement consulting firm, recently launched a new version of its life expectancy calculator, explicitly tailored to the life insurance industry. The new calculator uses proprietary algorithms and mortality tables that reflect the death rates of U.S. residents with life insurance policies. It provides valuable data for a wide variety of […]
OneAmerica Survey, Whitepaper Offer Insights on Female Financial Advisors
{February 22nd, 2023} by OneAmerica
INDIANAPOLIS, Feb. 16, 2023 /PRNewswire/ — OneAmerica® today unveiled findings from a recent survey of over 200 female financial advisors. The results, detailed in a corresponding whitepaper, offer eye-opening insights on what motivates women to join and stay in the financial advisor profession, the unique challenges they face, and the common factors that fuel their success. The survey was […]
Simplicity Welcomes Lauren Wright and Justin Wright to the Partnership with the Acquisition of Financial Professionals Group
{February 22nd, 2023} by Simplicity Group
SUMMIT, N.J., Feb. 14, 2023 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced the acquisition of Financial Professionals Group (FPG), an insurance marketing organization based in Foothill Ranch, CA specializing in helping advisors secure legacy, longevity, long-term care and income protection solutions for their clients. With the successful closing of this transaction, Simplicity welcomes Lauren Wright and Justin Wright as partners, both of whom will […]
Federal judge tosses out portion of DOL rollover advice guidance
{February 22nd, 2023} by John Hilton
Financial advisors providing first-time advice in a plan rollover setting will not be considered fiduciaries – at least for the time being. A federal district court judge in Florida sided with an industry trade group Monday in striking down a portion of guidance the Department of Labor issued in 2021 that expanded the definition of […]
Strict new privacy proposal would limit how insurers could use data
{February 22nd, 2023} by John Hilton
[This story has been updated with clarifications provided by the NAIC] A state insurance regulator group is proposing a sweeping overall revision of privacy rules that would significantly restrict what insurers could do with the private information of consumers. Public comment is being accepted on the Consumer Privacy Protection Model Law through April 3. It […]
Corebridge execs upbeat despite reporting $566M Q4 loss
{February 22nd, 2023} by Doug Bailey
Despite a brutal fourth quarter that resulted in a $566 million net loss, Corebridge Financial Inc. executives said Friday they were upbeat about the newly branded company’s prospects for the year. Corebridge, one of the nation’s biggest retirement products and insurance providers, blamed the quarterly loss on derivative losses and “foreign exchange movements,” but still […]
American Equity annuity sales high, as are surrenders, in a dicey 4Q
{February 22nd, 2023} by John Hilton
In an environment where annuities are smashing sales records, American Equity focused on repricing discipline, executives said, which held sales down during the fourth quarter. A leading seller of fixed indexed annuities, American Equity reported fourth-quarter sales of $900 million, of which 87%, or $783 million, were in fixed index annuities. FIA sales were down […]
Analysts: DOL rollover ruling ‘a big deal,’ but don’t get carried away
{February 22nd, 2023} by John Hilton
Monday’s federal court ruling tossing out a portion of the Department of Labor’s advice rule governing rollovers is “a big deal,” a leading analyst said Thursday. But it is also just one step in a very long process, added Bradford P. Campbell, partner at Faegre Drinker Biddle & Reath. “I think the answer is not, […]
3 Ways to Capitalize on Annuities’ Surging Popularity: Cerulli
{February 22nd, 2023} by Dinah Wisenberg Brin
With annuity sales surging amid higher interest rates, the industry should consider various steps to further expand the market, including developing new product concepts such as long-term care hybrids and pushing for more annuities in employer retirement plans, a new report from Cerulli Associates suggests. If fixed annuity rates remain high enough, advisors and clients […]
Washington State’s LTC Mandate Temporarily Reshaped Life Sales: MIB
{February 22nd, 2023} by Allison Bell
Washington state’s effort to set up a public long-term care insurance program has shown U.S. life insurers just how enormous the long-term care planning market could be. Washington state let consumers use private long-term care insurance policies and life insurance policies that offer LTC benefits to escape from a new public LTCI program payroll tax. […]
Policy Appraisal Firm Adds Life Expectancy Calculator
{February 22nd, 2023} by Allison Bell
Alife insurance policy appraiser is courting your clients with a new tool: a web-based calculator that predicts a user’s life expectancy based on the firm’s own life expectancy data and methods. The firm, WeBuy75.com, bases the life expectancy forecasts on factors such as exercise, use of medical care and social interactions as well as factors […]
Prosperity Drops Effort to Acquire Annuity Issuer
{February 22nd, 2023} by Allison Bell
An insurer backed by Elliott Investment Management has dropped efforts to acquire a well-known annuity issuer. The company, Prosperity Group Holdings, says it has withdrawn a $45-per-share offer for American Equity Investment Life Holding Company because of American Equity’s lack of interest. Click HERE to read the full story via ThinkAdvisor Wink’s Note: […]
New Business Specialist
{February 22nd, 2023} by Group1001
Description Position at Clear Spring Life and Annuity Company Group1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and […]
National Life Group promotes two leaders in Independent Distribution, celebrating its 25th year
{February 21st, 2023} by National Life Group
Montpelier, VT – (February 1, 2023) National Life Group Chairman, CEO and President Mehran Assadi announced that co-leaders of Independent Distribution – Matt Frazee and Louis Puglisi – have been promoted to Field Executive Vice Presidents. This is the 25th anniversary of Independent Distribution at National Life and the company’s 175th year in business. Over the past 25 […]
NCOIL HIGHLIGHTS FEBRUARY AS INSURANCE CAREERS MONTH
{February 13th, 2023} by NCOIL
Belmar, NJ – The National Council of Insurance Legislators (NCOIL) joins the Insurance Careers Movement (ICM) in highlighting February as the seventh annual Insurance Careers Month. The ICM is a global network of more than 1,000 insurance carriers, agents, trade associations, and industry partners working to engage the next generation for careers in insurance. […]
Many who ‘want’ to retire later in life actually need to, study says
{February 13th, 2023} by Nathan Place
In recent years, Americans have been retiring later and later in life. But are they working longer because they want to, or because they need to? According to new research, the difference is not so clear-cut. That’s the upshot of a new study by Voya Cares, a research division of the investment firm Voya Financial, and Easterseals, a nonprofit […]
Prudential rides out Assurance IQ struggles with 4th quarter loss
{February 13th, 2023} by John Hilton
Prudential Financial executives stressed strong financials even as the insurer announced a $558 million loss for the fourth quarter 2022. The results, announced yesterday, reflect poor performance across most of the segments, lower premiums and net investment income, offset by lower expenses. After-tax adjusted operating income was $907 million in the quarter, compared to $1.23 […]
Lincoln ‘selling on our terms’ as it rebounds from lost quarter
{February 13th, 2023} by John Hilton
Lincoln Financial took a few small steps in its turnaround during the fourth quarter, eking out $6 million in net income. But after taking a $2.6 billion loss in the third quarter, largely due to a $2.2 billion charge against its life insurance reserves, Lincoln execs were upbeat during a Thursday call with Wall Street […]
What Life Insurers Are Saying About Death Now
{February 13th, 2023} by Allison Bell
The number of U.S. deaths was lower in the fourth quarter of 2022 than in the fourth quarter of 2021, when the COVID-19 omicron variant surge was rolling in, according to executives from Equitable, Lincoln Financial, Global Life and other life insurers. But total excess mortality from all causes is still noticeably higher than it […]
Consideration of annuity laddering
{February 13th, 2023} by Sheryl J. Moore
Get outta my head, Matthew DiGangi, MBA, CLTC! For those who are concerned about future interest rates, I also suggest the consideration of annuity laddering. Today, you can buy annuities with rates guaranteed for 1-, 2-, 3-, 4-, and 5-years+. Why not split the money-up, amongst several rate guarantee periods, to ensure that you don’t lose […]
Adding Annuities still a concern for plan sponsors
{February 13th, 2023} by Ary Rosenbaum - The Rosenbaum Law Firm P.C.
There has been a push to add annuities to retirement plans, but I don’t see it gaining ground. According to Alight, plan sponsors are hesitant to add it, which was part of the 2019 SECURE Act. Alight’s data showed that among plan sponsors, 47% cite fiduciary concerns as a major reason for not adding annuities. […]
Variable Annuities Look Pretty Good at Tax Time
{February 13th, 2023} by Scott Stolz
Tax season is here, and so are the difficult 1099 talks with clients. Having to explain to a client that they have to pay capital gains taxes despite staring at negative 20% returns is never a fun conversation. “Let me see if I have this straight: My investment in XYZ fund has gone from $1 […]
For More Certainty in Your Retirement Portfolio, Consider Annuities
{February 13th, 2023} by Tara Siegel Bernard
In a kinder universe, retirees wouldn’t need to worry about market volatility or outliving their money. But 2022 was a nail-biter: Bonds plunged alongside stocks, and many people in or nearing retirement wanted investments that would guarantee a smoother ride. Many of them turned to annuities, whose sales surged 22 percent to an estimated $310 billion in […]
U.S. Life Application Activity Heats Up
{February 13th, 2023} by Allison Bell
U.S. individual life insurance application activity looked healthier in January, according to new MIB Group survey data. The insurance data-sharing consortium saw the number of applications flowing through its application-checking systems increase 8.6% from the number recorded in January 2022. In 2022, the MIB life application activity indicator fell 5.5%, partly because consumer fear of the […]
Nassau Financial Adds a Bonus Annuity
{February 13th, 2023} by Allison Bell
A life insurer is using quick bursts of cash to get retirement savers’ attention. Nassau Life and Annuity Company, a subsidiary of Nassau Financial Group, introduced the Nassau Bonus Annuity — a single-premium, non-variable indexed annuity — Thursday. A client can tie part of the crediting rate to the performance of one or more options […]
What Life Insurers Are Saying About Death Now
{February 13th, 2023} by Allison Bell
The number of U.S. deaths was lower in the fourth quarter of 2022 than in the fourth quarter of 2021, when the COVID-19 omicron variant surge was rolling in, according to executives from Equitable, Lincoln Financial, Global Life and other life insurers. But total excess mortality from all causes is still noticeably higher than it […]
Lincoln Financial to Tilt Away From Some Term Life Products
{February 13th, 2023} by Allison Bell
Lincoln Financial plans to reduce sales of some types of term life insurance to stem the amount of capital flowing into a relatively small part of its business. Ellen Cooper, the company’s CEO, said Thursday that it will still write some term life products, with high levels of death benefits and high profit margins, but […]
Annuitization is so undervalued!
{February 13th, 2023} by Sheryl J. Moore
I always love a good read from my dear friend Steve Parrish, JD,RICP,CLU,ChFC,AEP with the Retirement Income Center at The American College of Financial Services. This time, it was with Forbes. Click HERE to read Reasons You Should Retain Your Deferred Annuity When You Retire In this piece, he suggests numerous options for dealing with a deferred annuity, once […]
CNO Financial Group Reports Fourth Quarter and Full Year 2022 Results
{February 13th, 2023} by CNO Financial Group, Inc.
CARMEL, Ind., Feb. 7, 2023 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ended December 31, 2022, net income was $43.4 million, or $0.37 per diluted share, compared to $115.8 million, or $0.93 per diluted share, in 4Q21. Net operating income (1) in 4Q22 was $65.8 million, or $0.56 per diluted share, compared to $108.5 million, or $0.87 per diluted share, in 4Q21. Net income for the […]
F&G Annuities & Life Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call
{February 13th, 2023} by FGL Holdings
DES MOINES, Iowa, Feb. 8, 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 fourth quarter and full year 2022 earnings after the close of regular market trading on Wednesday, February 22, 2023. A webcast and conference call to discuss the […]
Fidelity National Financial Announces Fourth Quarter and Full Year 2022 Earnings Release and Conference Call
{February 13th, 2023} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Feb. 8, 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 […]
Northwestern Mutual Accelerates ESG Momentum in 2022 Sustainability Report
{February 13th, 2023} by Northwestern Mutual
MILWAUKEE, Feb. 8, 2023 /PRNewswire/ — Northwestern Mutual, a leading financial services company, today announced the release of its 2022 Sustainability Report. The report, entitled Building a Better Tomorrow, Today, holistically defines Northwestern Mutual’s environmental, social, and governance (ESG) strategy and reflects on the company’s progress in five key focus areas: its clients, social impact, corporate governance, responsible investing and […]
Brighthouse Financial Announces Fourth Quarter and Full Year 2022 Results
{February 13th, 2023} by Brighthouse Financial, Inc
February 09, 2023 04:15 PM Eastern Standard Time CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter and Full Year 2022 Results The company reported a net loss available to shareholders of $967 million […]
Lincoln Financial Group Reports Fourth Quarter and Full Year 2022 Results
{February 13th, 2023} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the fourth quarter of 2022 of $6 million, or $0.01 per diluted share available to common stockholders, compared to net income in the fourth quarter of 2021 of $220 million, or $1.20 per diluted share available to common stockholders. Fourth quarter adjusted income […]
Prudential Financial, Inc. Announces 2022 Results
{February 13th, 2023} by Prudential Financial, Inc.
Fourth quarter 2022 net loss attributable to Prudential Financial, Inc. of $558 million or $1.53 per Common share versus net income of $1.208 billion or $3.13 per share for the year-ago quarter. Fourth quarter 2022 after-tax adjusted operating income of $907 million or $2.42 per Common share versus $1.227 billion or $3.18 per share for the […]
Horace Mann reports full-year and fourth-quarter 2022 results consistent with pre-announcement
{February 13th, 2023} by Horace Mann Educators Corporation
Net loss of $2.6 million, or $0.06 per share, for the full year and net loss of $18.5 million, $0.45 per share, for the fourth quarter impacted by realized investment losses Core earnings* of $45.7 million, or $1.09 per share, for the full year with core loss* of $4.7 million, or $0.11 per share, for […]
Nassau Financial Group Launches Nassau Bonus Annuity℠
{February 13th, 2023} by Nassau Financial
HARTFORD, Conn.–(BUSINESS WIRE)–Nassau Financial Group (“Nassau”) today introduced a new bonus fixed indexed annuity (“FIA”) to its product portfolio, Nassau Bonus AnnuitySM. Issued by Nassau Life and Annuity Company, this latest offering is a single premium accumulation-focused fixed indexed annuity with a premium bonus and guaranteed lifetime withdrawal benefit options. “The launch of Nassau Bonus […]
Apollo touts new products, distribution with No. 1 Athene this year
{February 13th, 2023} by Steven A. Morelli
Apollo Global Management had a booming fourth quarter thanks to Athene, putting the company solidly at the top of the fixed annuity business and the CEO put the industry on notice that Athene intends to stay there. Apollo has been solidifying its position as a private credit behemoth partly with the help of capital generated […]
I expect that the demand for fixed annuities will continue.
{February 13th, 2023} by Sheryl J. Moore
I always love it when Steve Morelli from InsuranceNewsNet gives me the rundown on insurance companies’ earnings calls: Click HERE to view Brighthouse sees record annuity year, while life insurance lags In this piece, we get some intel on Brighthouse Financial. The company CEO, Eric T. Steigerwalt, goes on the record as saying, “The company [Brighthouse] does not expect […]
Self-Directed IRAs Carry Risks, Regulators Warn
{February 12th, 2023} by Karen Demasters
Investors and their advisors should be wary of self-directed IRAs, which are riskier than conventional IRAs, according to three regulatory and consumer protection agencies that issued an investor alert yesterday. Self-directed IRAs often include investments that carry added risk not found in more mainstream investments, the alert said. They are often less transparent and less […]
PRESS RELEASE: Financial Independence Group Appoints Brett Hynes As New President of Sales
{February 12th, 2023} by FIG Marketing
CORNELIUS, NC – January 31, 2022 – Financial Independence Group, LLC (FIG), a leading financial services conglomerate working with independent financial advisors specializing in annuities, life insurance and long-term care products, has named Brett Hynes as president of sales. Hynes’s executive leadership will create a high-performing team to empower FIG-partnered financial professionals to grow business, serve […]
AmeriLife focuses on ‘organic growth’ in next step
{February 6th, 2023} by John Hilton
With a key December hire in a newly created position, AmeriLife took the next step in its plan to grow annuity sales organically. Matthew Coleman brings nearly 30 years of industry experience to AmeriLife, where he is the company’s first vice president of annuity and life product innovation. Click HERE to read the full […]
Regulators Nix This Odd Policy Rider for Straying Over The Line
{February 6th, 2023} by Warren S. Hersch
The rider is automatically issued with the contract, at no extra cost. National Life said in a news release that it became available on all FlexLife indexed life policies beginning Jan. 28, “depending on state approval.” The carrier is the industry’s top seller of indexed life insurance, according to research firm Wink. Click HERE to read […]
Under New Incentive Plan, American Equity CEO Could Reap $72M
{February 6th, 2023} by Cyril Tuohy
“I still remember when the CEO of American Equity barely earned $100,000 annually in salary,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, in a LinkedIn post. “My, how things have changed over the past 17 years.” Click HERE to read the full story via Life Annuity Specialist
SECURE 2.0 Can Make Clients’ Retirement Plans Stronger
{February 6th, 2023} by Tyler De Haan
Parents out there may relate to this: I was at my daughter’s softball game last summer. After heavy rainfall, my son decided to jump in every puddle on the way to the field. After I cleaned him up the best I could, I finally sat down, only to look over at him rolling around in […]
Life Happens Brings Back the ‘Insure Your Love’ Campaign
{February 6th, 2023} by Allison Bell
COVID-19 reminded clients that people might die earlier than they expect. Life Happens is trying to take a gentler approach to building life insurance awareness this month, by bringing back its annual Insure Your Love campaign. The nonprofit group developed the campaign series in 2010, to associate buying life insurance with Valentine’s Day, and real […]
Annuities Versus The Four Percent Rule
{February 6th, 2023} by Charlie Gipple
I recently saw somebody write about how we should not compare annuities to the four percent rule. Although I agree that there needs to be additional disclosures and education in the annuity part of the conversation, I disagree with not comparing the two. Re-Anchor Clients in Reality, Not Fairy Dust I believe that consumers tend […]
How An Annuity Can Help Protect You From A Retirement Risk You Might Not Even Know About
{February 6th, 2023} by David Abreu
The sequence of returns is an important concept to understand when it comes to retirement planning. In fact, in certain scenarios, it can mean the difference between a successful retirement and one that’s not so lucky. In my experience as the founder of a firm that provides annuity services, I’ve found that the “sequence of […]
Financial Independence Group Appoints Brett Hynes As New President of Sales
{February 6th, 2023} by Financial Independence Group
Cornelius, NC – January 31, 2023 – Financial Independence Group, LLC (FIG), a leading financial services conglomerate working with independent financial advisors specializing in annuities, life insurance and long-term care products, has named Brett Hynes as president of sales. Hynes’s executive leadership will create a high-performing team to empower FIG-partnered financial professionals to grow business, serve […]
How Annuities Can Help You Befriend The ‘Enemies Of Retirement’
{February 6th, 2023} by Scott Romine
2022 was a “year for the books” in the financial services industry, as market volatility, rising interest rates and inflation impacted all Americans. Serving a company that aims to simplify retirement planning through annuity products and financial know-how, I constantly hear about these challenges and the risks associated with planning for life after work. Click […]
Variable Annuity Replacements In Finra’s Crosshairs
{February 6th, 2023} by Tracey Longo
Variable annuity contract replacements are now obviously on the radar of the Financial Industry Regulatory Authority, as a mid-January report by Finra on its 2022 exam findings shows a significant number of product switches have not been in customers’ best interests. While there can be good reasons for a rep to sell a customer a […]
Some of my comments about fiduciaries’ attitudes toward annuities may have been taken out of context.
{February 6th, 2023} by Sheryl J. Moore
I appreciated last night’s story by Ed Hayes in Financial Advisor Magazine. I think his editor was a little overzealous though? Click HERE to read Are Advisors Warming up to Annuities? Some of my comments about fiduciaries’ attitudes toward annuities may have been taken out of context. “Annuities have been incorrectly associated with high commissions, illiquidity, and significant […]
NAILBA’s/Finseca Insurbrief
{February 6th, 2023} by Sheryl J. Moore
Super awesome to see NAILBA/Finseca using data from “Wink’s Sales & Market Report” to point-out Transamerica‘s top-selling Transamerica Foundation IUL and the company’s #2 position in indexed life sales too! FYI- I am both “industry analysts” and “officials” as it relates to the “IUL Speed Bump” segment in the attached video. I should add that to my resume… […]
National Life Group expands suite of living benefits, adds Alzheimer’s and a fertility journey rider
{February 6th, 2023} by National Life Group
The companies of National Life Group are expanding their suite of living benefits ¹, adding Alzheimer’s Disease and a new fertility journey rider, that began on January 28. These expansions have the potential to support many, as more than 6.5 million Americans are estimated to be living with Alzheimer’s dementia 2, and the average cost of […]
Equitable, Lincoln and Security Benefit Add Products for Stability Seeker
{February 6th, 2023} by Allison Bell
Big life and annuity issuers, and some smaller players, are breaking through the financial services sector’s stunned silence with talk about products that offer strong value guarantees. The COVID-19 pandemic has eased, and the stock market has overcome most of the volatility that hit in the fall. Click HERE to read the full story via […]
AM Best Affirms Credit Ratings of Nassau Financial Group, L.P.’s Insurance Subsidiaries
{February 6th, 2023} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR’s) of “bbb” (Good) of Nassau Life Insurance Company, Nassau Life and Annuity Company and Nassau Life Insurance Company of Kansas (Overland Park, KS). These companies are collectively referred to as the Nassau Insurance Group […]
MassMutual named to 2023 FORTUNE World’s Most Admired Company list
{February 6th, 2023} by MassMutual
SPRINGFIELD, Mass.–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (MassMutual) has been named a World’s Most Admired Company by FORTUNE® Magazine, placing #2 in the life and health insurance industry category and leading among mutual company peers. Notably, MassMutual ranked No. 1 for innovation in its industry category, the fifth time in the past six years the […]
MetLife Among the World’s Most Admired Companies, According to Fortune Magazine
{February 6th, 2023} by MetLife
HONG KONG–(BUSINESS WIRE)–MetLife, Inc. (NYSE: MET) today announced that it once again has been named to Fortune magazine’s 2023 list of the “World’s Most Admired Companies.” Eight life insurers were included in the annual report card of the best-regarded companies. Annually, Fortune partners with Korn Ferry to rank companies by their corporate reputation. Corporate executives, […]
MetLife CFO John McCallion Provides Fourth Quarter and Full Year 2022 Financial Update Video
{February 6th, 2023} by MetLife
NEW YORK–(BUSINESS WIRE)–MetLife, Inc. (NYSE: MET) today announced that Executive Vice President and Chief Financial Officer John McCallion has provided a fourth quarter and full year 2022 financial update video. The video can be viewed on the company’s website at https://www.metlife.com/about-us/newsroom/#video. About MetLife MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of […]
American Equity Declares 1st Quarter 2023 Preferred Stock Dividends
{February 6th, 2023} by American Equity Investment Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), today announced that in accordance with the terms of its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”), which is represented by depositary shares, each representing a 1/1,000th interest in a share of Series A Preferred Stock (the “Series […]
AM Best Affirms Credit Ratings of CNO Financial Group, Inc. and Its Life/Health Subsidiaries
{February 6th, 2023} 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 life/health insurance subsidiaries of CNO Financial Group, Inc. (headquartered in Carmel, IN) [NYSE: CNO]. These subsidiaries are referred to collectively as CNO Financial Group (CNO). Concurrently, AM Best has […]
259 Ameriprise Financial Advisors Named to the Forbes Best-in-State Wealth Management Teams List
{February 6th, 2023} by Ameriprise Financial, Inc.
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial Inc., (NYSE AMP) today announced that 259 of the firm’s financial advisors were named to the Forbes Best-in-State Wealth Management Teams list. Forbes recognizes the industry’s top advisors according to several factors, which include quality of their practices, professionalism and success in the business. The rankings are finalized based on data provided […]
Ameriprise Financial Included in 2023 Bloomberg Gender-Equality Index
{February 6th, 2023} by Ameriprise Financial, Inc.
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) today announced that it has been included in the Bloomberg Gender-Equality Index (GEI) for the third time. The index recognizes companies for their policies and practices in support of women in the workforce. To become a member of the GEI, Ameriprise performed well across the index’s five pillars: leadership […]
Horace Mann included in 2023 Bloomberg Gender-Equality Index
{February 6th, 2023} by Horace Mann Educators Corporation
Commitment to diversity, equity and inclusion recognized for fifth consecutive year Horace Mann has been named to the 2023 Bloomberg Gender-Equality Index. \\ January 31, 2023 08:00 AM Eastern Standard Time SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today announced that it is one of 484 companies worldwide named to the 2023 Bloomberg […]
NORTHWESTERN MUTUAL ANNOUNCES $500M INVESTMENT IN DOWNTOWN MILWAUKEE CAMPUS
{February 6th, 2023} by Northwestern Mutual
Investment in North Office Building to bring downtown campus capacity to 9,000 and serve as expanded hub for employees, financial representatives, and business and community partners MILWAUKEE, Feb. 2, 2023 /PRNewswire/ — Northwestern Mutual today announced plans to invest more than $500 million in its North Office Building located at 818 East Mason Street in downtown Milwaukee to expand its world-class […]
GLOBE LIFE INC. REPORTS FOURTH QUARTER 2022 RESULTS
{February 6th, 2023} by Globe Life Inc.
MCKINNEY, Texas, Feb. 1, 2023 /PRNewswire/ — Globe Life Inc. (NYSE: GL) reported today that for the quarter ended December 31, 2022, net income was $2.14 per diluted common share, compared with $1.76 per diluted common share for the year-ago quarter. Net operating income for the quarter was $2.24 per diluted common share, compared with $1.70 per diluted common share for the year-ago quarter. Net income for […]
Cognizant Named a Technology Leader Across Industries in 17 Analyst Reports Throughout Q4 2022
{February 6th, 2023} by Cognizant
Top Analyst Firms Highlight Cognizant’s Growing Partnerships, Technology Capabilities, and Innovative Thinking to Help Clients Quickly Scale and Compete TEANECK, N.J., Feb. 3, 2023 /PRNewswire/ — Cognizant (NASDAQ: CTSH) was recognized for its technology leadership and digital modernization capabilities by independent analyst firms throughout Q4 2022. In 17 reports assessing technology providers in banking, insurance, healthcare, and other industries, Cognizant was […]
F&G Annuities & Life, Inc. Announces Equity Investment in Life IMO SYNCIS
{February 6th, 2023} by F&G Annuities & Life, Inc.
Provides F&G with 49% Ownership Stake of SYNCIS Validates Diversification Strategy to Expand Owned Distribution While Boosting Presence in Underserved Markets DES MOINES, Iowa , Jan. 31, 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, today announced that a subsidiary of F&G has acquired […]
Study: Does pessimism really suppress annuity sales?
{February 6th, 2023} by Steven A. Morelli
A prospect’s pessimism about their lifespan is usually seen as a high hurdle in an annuity sale, but lowering the dour outlook has less impact than in raising the objective facts about longevity, according to a recent study. Researchers were taking a crack at the “annuity puzzle” that has vexed the insurance industry since […]
Sweet streams of income: ChatGPT, the bard of annuities
{February 6th, 2023} by Steven A. Morelli
Annuities can be life changing and sustaining but let’s face it, they are about as exciting as a mortality table. And why should it be? After all, annuities can be as life-altering to a retiree as a muse is to an artist. Shouldn’t it be the subject of at least one poem or song? OK, […]
American Equity readies 2022 earnings report amid ongoing conflicts
{February 6th, 2023} by John Hilton
American Equity is one of the more anticipated earnings reports this month, with the fixed indexed annuity seller fighting off all comers. For now. The West Des Moines, Iowa, insurer remains an attractive takeover target after fending off a several takeover bids in three years. AEL rejected a recent offer from Prosperity Group to acquire […]
Annuity sales hit record last year, eclipsing sales during 2008 financial crisis amid fear, higher rates
{February 6th, 2023} by Greg Iacurci
Amid stock market gyrations, recession fears and loftier payouts, consumers last year pumped a record sum of money into annuities, a type of insurance that offers a guaranteed income stream. Buyers funneled $310.6 billion into annuities in 2022, according to estimates published by Limra, an insurance industry trade group. Click HERE to read the full […]
From Best’s Review: Annuities Sales Grew Sharply in 2022; Strong Year in 2023 Possible
{February 6th, 2023} by Terrence Dopp
Annuities had a banner year in 2022 as volatility in equities markets prompted investors to seek stable, safer returns. Click HERE to view via AM Best
Buy Term, Or Invest…Different?
{February 6th, 2023} by Sean Wickersham
As I began to brainstorm for this article, something I am always honored to be asked to write, I came across a blog from a well-known financial guru on variable life insurance (VUL). The piece was mostly dedicated to tearing apart any kind of permanent insurance product and insisting that the only life insurance worth […]
Annuities–There ARE Guarantees In Life
{February 6th, 2023} by Todd Radwick
“Fixed indexed annuities” (FIAs) and their ability to provide a guaranteed life income in retirement without market risk are to the private sector what “defined benefit pension plans” are to government employees in the public sector—but on steroids. Granted, there are still some larger companies that offer full “pensions,” but this is becoming more and more rare. Ironically, […]
Three Rules To Help Make The Promise Of A Successful IUL Come True
{February 6th, 2023} by Kevin Nuber
If you are in the IUL marketplace, then you hear it all the time—indexed universal life policies will never come true. The criticisms are usually the same. That the illustrations and projections are unrealistic and so unbelievable that they can’t possibly come true. They say caps and participation rates will be reduced and the client […]
Broker Words—February 2023
{February 6th, 2023} by Stephen Howard
Dammit this one really hurts. It is my sad duty to report the passing of great friend and industry shaper Michel Levy Boudreaux. Michel died unexpectedly at her home in Harahan, LA, on Thursday, January 19, 2023. She is survived by her beloved husband, business partner and devoted caregiver Kevin K. Boudreaux. The couple recently […]
Producers stew as insurers slow to process life and annuity applications
{January 31st, 2023} by John Hilton
Sheryl Moore is president and CEO of Moore Market Intelligence and Wink, Inc. She also has an influential social network and posted about the delay issue last week on LinkedIn. The responses flooded in from irritated producers. Speculation on the source of the delays ranged from staffing shortages to technology deficiencies to insurers just caught […]
It Gets Better
{January 31st, 2023} by Sheryl J. Moore
I APPRECIATE YOU ALL SO MUCH!!! Thank you for your generous gifts to the It Gets Better Project, in memory of my son, AJ Betts. In a moment of vulnerability, I want to admit to you that I am TERRIFIED that my son will be forgotten. Terrified! While he looms in my memory daily, everyone […]
North American and Annexus Continue to Define Industry with Launch of North American Secure Horizon Choice Fixed Index Annuity
{January 31st, 2023} by North American Company for Life and Health Insurance and Annexus
North American Secure HorizonSM fixed index annuity suite expanded with new Secure HorizonSM Choice DES MOINES, Iowa, Jan. 24, 2023 /PRNewswire/ — 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 has once again joined forces with Annexus, a premier independent […]
This one, unfortunately, just cannot be simplified.
{January 31st, 2023} by Sheryl J. Moore
Just reviewed, literally, THE most complex rider that I have ever seen in the 24 years that I have been in this business. I am an expert at reading specimen contracts. I love to simplify complex terminology into easy-to-understand terms. This one, unfortunately, just cannot be simplified. If I cannot understand it, I don’t know […]
Lincoln Financial Group Offers Faster Route From Planning to Protection With New, Fully Automated Life Product
{January 31st, 2023} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) continues to advance the life insurance business model while improving the customer experience with the introduction of Lincoln WealthAccelerateSM, an indexed universal life (IUL) product offering a fully digital and automated experience to consumers. As the world becomes more digitally focused, consumers expect ease and accessibility from their financial […]
Advisors Excel Raises Nearly $1.1 Million for Folds of Honor
{January 31st, 2023} by Insurance Forums Staff
In keeping with its commitment to the local community and the communities our advisors serve, Advisors Excel and its affiliated financial professionals recently raised $1,080,250 for Folds of Honor during a training event in San Diego. The gift will help fund more than 216 scholarships for families of fallen and disabled military heroes and first […]
CFP Board to Split Into 2 Nonprofit Groups
{January 31st, 2023} by Janet Levaux
The Certified Financial Planner Board of Standards says it is setting up a separate nonprofit organization to promote careers in financial planning and the public image of financial planners. The new 501(c)(6) organization will be called CFP Board of Standards, while the existing 501(c)(3) organization will be renamed the CFP Board Center for Financial Planning […]
I wonder- what specifically are “large, undisclosed commissions?”
{January 31st, 2023} by Sheryl J. Moore
Do you guys remember when California had a bounty program, where they would pay professionals to turn in sheisty insurance agents? Well, remembering that got my attention, when I saw this article promoted in my Google alerts. I wonder- what specifically are “large, undisclosed commissions?” This guy makes it sound like annuities pay 10% comp and life […]
Are Annuities Good Investments? Weighing the Pros and Cons
{January 31st, 2023} by Nate Miller
Some people may love annuities. Some people may loathe them. Of course, in many instances, a person’s views on annuities often come down to not just personal preferences, but also to whether they make money from them. A financial professional who sells annuities but has nothing else to offer prospective clients will likely point you in the […]
Beware of Private Equity Gobbling Up Life Insurance and Annuity Companies
{January 31st, 2023} by Eileen Applebaum
Private equity (PE) firms have had their eye on individual retirement savings since 2013 when they were first allowed to market directly to individuals. Pension funds already allocate workers’ retirement savings to PE firms, which use these assets to fund a range of risky equity and debt investments. Access to personal retirement savings, including IRAs […]
AIG sacks top financial exec after alleged disclosure breach
{January 31st, 2023} by Staff Reports
American International Group today announced that it terminated Mark Lyons from his position as AIG’s interim chief financial officer and executive vice president, global chief actuary and head of portfolio management “after the company became aware that he violated his confidentiality/non-disclosure obligations to the company.” These violations were unrelated to the company’s financial statements, financial […]
Investors scrambling to lock in rates propel annuity sales to record highs
{January 31st, 2023} by Staff Reports
In the aftermath of the 2008-09 financial crisis, Americans flocked to the safe gains provided by fixed annuities and sales soared. It is happening again. Click HERE to read the full story via INN
How Life Expectancy Perceptions Affect Annuity Purchases
{January 31st, 2023} by Allison Bell
Researchers’ own “objective” life expectancy estimates have a bigger correlation with how likely U.S. consumers are to own annuities than the consumers’ own life expectancy estimates do, researchers say. When Karolos Arapakis and Gal Wettstein calculated a consumer’s life expectancy themselves, one year of extra life expectancy correlated with an increase in the probability that […]
Biggest Threat to Life and Annuity Issuers This Year Might Be Themselves
{January 31st, 2023} by Allison Bell
Earnings releases for the fourth quarter of 2022 could continue a period that’s just fine for U.S. life and annuity issuers, as long as they don’t do anything to sink the boat. The issuers posted pretty good earnings for the first three quarters of 2022, and life insurance analysts at an S&P Global insurance conference […]
Higher Rates Rocket Fixed Annuities to New Sales Growth Dimension
{January 31st, 2023} by Allison Bell
Rising credit rates and a strong market led to stunning growth numbers for U.S. sales of individual fixed deferred annuities in the fourth quarter of 2022, according to new, preliminary issuer survey results from LIMRA. Total sales of individual annuities soared 39% between the fourth quarter of 2021 and the latest quarter, to $87 billion. […]
Mutual of Omaha Begins Building Headquarters Tower
{January 31st, 2023} by Allison Bell
Mutual of Omaha began construction Wednesday of a 44-story tower that will add 800,000 square feet to its headquarters office space in downtown Omaha, Nebraska. The policyholder-owned mutual insurer already has 1.7 million square feet of office space in Omaha. Mutual of Omaha sells life insurance, Medicare supplement insurance, long-term care insurance, annuities and other […]
Some Life Insurance Producers Might Need Planners: Survey
{January 31st, 2023} by Allison Bell
Financial advisors could find pockets of demand for their services at life insurance agencies. About 14% of independent life insurance producers surveyed said their agencies hire outside firms to provide financial planning and wealth management services for the clients, according to a life producer survey conducted by LIMRA and the National Association of Independent Life […]
Web-Based Life Marketer Sues Swiss Re
{January 31st, 2023} by Allison Bell
Cayo, a company that developed a system for selling life insurance through the web, is suing U.S. subsidiaries of Swiss Re over problems with a digital life insurance sales initiative. Cayo filed a complaint against Swiss Re America Corp. and two other Swiss Re businesses — Lumico Life Insurance Co. and iptiQ Americas — in […]
FINRA Asks Members to Check RILA Disclosures
{January 31st, 2023} by Allison Bell
The Financial Industry Regulatory Authority says financial firms should be ready to show examiners what they tell investors about registered index-linked annuities. The Washington-based organization has added a line about RILAs to the variable annuity section in a report on its examination and risk monitoring priorities for 2023. “If your firm offers registered indexed-linked annuities […]
Sammons Financial Group Announces Record Volunteerism in 2022
{January 31st, 2023} by Sammons Financial Group
Nearly $3.6 million and 10,400 hours donated last year WEST DES MOINES, Iowa, Jan. 25, 2023 /PRNewswire/ — Sammons® Financial Group, Inc. continued its ongoing community support by donating nearly $3.6 million to charitable organizations throughout 2022. Additionally, employees contributed 10,400 hours in volunteer service, 90% higher than 2021 volunteer hours. “Our employees have always stepped up for our communities, and I’m proud and […]
Nearly seven in 10 investors say they may continue working in retirement
{January 31st, 2023} by Nationwide
With volatility the new norm, investors and advisors are rethinking what post-retirement life will look like COLUMBUS, Ohio, Jan. 25, 2023 /PRNewswire/ — Turbulent market conditions and rampant inflation have forced investors to consider working after their retirement, according to Nationwide’s eighth annual Advisor Authority survey, powered by the Nationwide Retirement Institute. Over two-thirds (69%) of non-retired investors may work […]
OneAmerica First to Offer PensionPlus for Personalized Retirement Planning
{January 31st, 2023} by OneAmerica
INDIANAPOLIS and CHATTANOOGA, Tenn., Jan. 25, 2023 /PRNewswire/ — OneAmerica® announced it will become the first retirement plan provider to offer PensionPlus™, an innovative, personalized retirement withdrawal, or decumulation, strategy developed with co-founder Shlomo Benartzi. PensionPlus provides participants with a monthly retirement paycheck tailored to the individual, based on their unique goals and needs in retirement. In addition, users maintain […]
Cetera To Acquire Securian Financial’s Retail Wealth Business
{January 31st, 2023} by Cetera Financial Group
LOS ANGELES and ST. PAUL, Minn., Jan. 25, 2023 /PRNewswire/ — Cetera Financial Group (Cetera), one of America’s largest networks of financial professionals, announced today that it has entered into a definitive agreement to acquire the retail wealth business of Securian Financial Group, Inc. (Securian Financial). Under the agreement, Cetera will acquire certain assets related to Securian Financial Services, […]
Finseca: Pulse Check – Has your Financial Security Been a Priority Thus Far in 2023? It needs to be.
{January 31st, 2023} by Finseca
WASHINGTON, Jan. 30, 2023 /PRNewswire/ — Though no plan is perfect, and it will evolve just as everything else in life, your financial security should be a priority this year. With 2023 just getting underway, consumers should take a moment to check off these five to-dos to ensure their financial security starts off on the right track […]
Nippon Life to Commit Further $1 Billion in Resolution Life, Following Strategic Partnership with Blackstone
{January 31st, 2023} by Blackstone
HAMILTON, Bermuda–(BUSINESS WIRE)–Resolution Life today announced that Nippon Life Insurance Company (“Nippon Life”) has agreed to invest an additional commitment of $1 billion in Resolution Life — a leading global life and annuity insurance consolidation business — following the recently announced strategic partnership between Resolution Life and Blackstone. Since 2019, Nippon Life has been the largest investor […]
Majority of Americans are More Concerned About Paying Bills Right Now Than Financial Future
{January 31st, 2023} by Allianz Life
Allianz Life study finds many Americans are prioritizing present needs at the cost of their retirement Key findings: 67% are more concerned about paying bills right now than saving for their financial future 82% worry rising inflation will continue to have a negative impact on the purchasing power of their income in the next […]
Ameriprise Financial Reports Fourth Quarter 2022 Results
{January 31st, 2023} by Ameriprise Financial, Inc.
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share Return on Equity, ex AOCI (1) Q4 2022 FY 2022 2022 GAAP $4.43 $22.51 GAAP 43.1% Adjusted Operating $6.94 $23.96 Adjusted Operating 45.9% Adjusted Operating, Ex. Unlocking (2) $6.94 $25.14 Adjusted […]
DALBAR Annuity Service Award Winners Excel at Meeting Investor Needs
{January 31st, 2023} by DALBAR, Inc
MARLBOROUGH, Mass.–(BUSINESS WIRE)–DALBAR today announced the winners of the 2022 Annuity Service Award which recognizes those annuity companies providing the highest quality customer service in the industry. Annuities offer features that can help investors in multiple ways, including options for lifetime income, growth potential and protection from uncertain markets. Annuity company contact centers are a […]
Principal Financial Group® Announces Full Year and Fourth Quarter 2022 Results
{January 31st, 2023} by Principal Financial Group
Declares first quarter 2023 common stock dividend Company Highlights Full year 2022 net income attributable to PFG of $4.8 billion, or $18.85 per diluted share, includes $3.3 billion of income from exited business. Fourth quarter 2022 net loss attributable to Principal Financial Group®, Inc. (PFG) of $10 million, or $0.04 per diluted share, includes […]
Annuity Sales Jump 22% YoY to New Record
{January 30th, 2023} by Alex Padalka
Investors grasping for guaranteed retirement income, combined with rising interest rates, spurred total annuity sales to reach a record $310.6 billion in 2022, according to a new report. Last year’s total annuity sales topped the record set in 2008 by 17%, Limra says it found in its annual individual annuity sales survey. Click HERE to […]
Best life insurance companies of 2023
{January 30th, 2023} by The Sacramento Bee
Life insurance can provide the peace of mind that comes from knowing your family will be taken care of when you’re no longer there to support them.Despite the misconception that the best life insurance is inaccessible to most of us, policies can actually be quite affordable. For example, a healthy 35-year-old female could potentially qualify […]
Integrity Adds Dynamic New Life Insurance Leadership with Acquisition of DeLong Sales Group
{January 30th, 2023} by Integrity Marketing Group
Partnership with high-performance IMO with visionary approach enhances Integrity’s mission to provide holistic life, health and wealth solutions to all Americans DALLAS, Jan. 25, 2023 /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 acquired DeLong Sales Group, an […]
NEWS RELEASE: French Named Chair of National Association of Insurance Commissioners Life Insurance and Annuities Committee
{January 24th, 2023} by Ohio Department of Insurance
French Named Chair of National Association of Insurance Commissioners Life Insurance and Annuities Committee Ohio Department of Insurance staff selected to 20 NAIC committee and task force leadership roles COLUMBUS – Ohio Department of Insurance director Judith L. French was named chair of the National Association of Insurance Commissioners (NAIC) Life Insurance and Annuities Committee, highlighting the selection of […]
The latest in financial #AdvisorTech — January 2023
{January 24th, 2023} by Michael Kitces
The January edition of the latest in financial #AdvisorTech kicks off with the news that Envestnet has decided to enter the RIA custodial business through a partnership with Australian bank FNZ to white-label what was once the State Street RIA custodial platform of many years ago — providing Envestnet an opportunity to even more deeply […]
Department of Justice opens antitrust investigation of American Equity’s investor
{January 24th, 2023} by Tyler Jett
A prominent shareholder of American Equity Investment Life Holding Co. has stepped back from its fight with the West Des Moines insurer amid a federal investigation. In a regulatory filing on Friday, Brookfield Asset Management disclosed that it won’t appoint a new representative to American Equity’s board because Department of Justice investigators are looking into […]
This is a pretty balanced, educational article!
{January 24th, 2023} by Sheryl J. Moore
I was reading Bradley Rosen‘s article in Kiplinger this morning, and thought “this is a pretty balanced, educational article!” I should share it. Click HERE to read Long-Term Investments Require a New Approach Warning: there is kind of an awkward plug for indexed annuities at the end. I wondered why the article didn’t mention other types […]
AmeriLife Announces Key Organizational Changes on Heels of Strong Growth & Expansion
{January 24th, 2023} by AmeriLife Group, LLC
CLEARWATER, Fla. | January 18, 2023 02:50 PM Eastern Standard Time Following three years of record-breaking growth and expansion, AmeriLife Group, LLC (“AmeriLife”) today announced a strategic, organizational restructuring with the creation of two new, distinct distribution groups – Wealth and Health – an evolved structure designed to deliver more focused growth along with the resources needed to continue to grow AmeriLife’s industry-leading […]
The Penn Mutual Life Insurance Company Extends Track Record Of Financial Strength
{January 24th, 2023} by The Penn Mutual Life Insurance Company
HORSHAM, Pa., Jan. 18, 2023 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is proud to continue the company’s storied foundation of financial strength. In 2022, five of the world’s top rating agencies affirmed strong ratings, including recent ratings of AA (Very High Quality) from Kroll Bond Rating Agency (KBRA) […]
Will ChatGPT, artificial intelligence replace financial professionals any time soon?
{January 24th, 2023} by Steven A. Morelli
Will artificial intelligence replace financial professionals any time soon? No. Even ChatGPT says so. But even artificial intelligence might have a difficult time accurately answering that. Click HERE to read the full story via INN
Critics say SECURE 2.0 did little to help the economically insecure
{January 24th, 2023} by Steven A. Morelli
As advisors help clients understand the benefits provided by SECURE 2.0, critics are saying that the provisions did little to assist people who actually need retirement help. Retirement savings provisions known as SECURE 2.0 were wrapped into the omnibus spending bill in December. Among the measures, it requires employers with retirement plans to automatically enroll […]
Insurers (mostly) successful on COVID-19 business interruption lawsuits
{January 24th, 2023} by John Hilton
Insurers were mostly victorious in the initial business interruption lawsuits filed in the wake of the COVID-19 shutdowns that began in March 2020. Those rulings mainly came from federal courts. Now class-action lawsuits are wending their way through state supreme courts, where insurers are getting more good news. “Insurers had a fair amount of success […]
SURVEY: Middle-Income Americans Prepare for Possible Recession in 2023
{January 24th, 2023} by Primerica
DULUTH, Ga.–(BUSINESS WIRE)–Primerica, Inc. (NYSE: PRI), a leading provider of financial services in the United States and Canada, released its Middle-Income Financial Security Monitor for the fourth quarter of 2022. The survey, in its third year, measures changes in the sentiments of middle-income families in the U.S. about their finances. During the fourth quarter of 2022, 81% […]
KAFL Insurance Resources Becomes Newest ICON Affiliate
{January 23rd, 2023} by AIMCOR Consolidated LLC (“ICON”)
PAOLI, Penn. and CLEARWATER, Fla. | January 18, 2023 09:00 AM Eastern Standard Time AIMCOR Consolidated LLC (“ICON”), a joint venture between AIMCOR Group, LLC (“AIMCOR”) and AmeriLife Group, LLC (“AmeriLife”), announced today that it has acquired KAFL Insurance Resources (“KAFL”), one of the largest brokerage general agencies (BGAs) in the northeast. Per the agreement, terms of the deal were not […]
What Your Clients Don’t Know About Longevity Could Hurt Their Retirement
{January 23rd, 2023} by Michael Finke
Do you know how long an average 60-year-old American will live? Most people don’t. When given four possible responses, only 37% correctly identified the average longevity of men and women in a recent survey conducted by researchers from the George Washington University Global Financial Literacy Excellence Center and the TIAA Institute. Click HERE to read […]
Unpacking the IUL marketing plague
{January 23rd, 2023} by Daniel M Yerger
It hasn’t escaped notice for many financial planners that Indexed Universal Life (IUL) policies are making a marketing comeback, albeit one that resembles a plague of locusts. Legions of insurance-licensed-only insurance producers have swarmed to platforms such as TikTok and Instagram to market the living benefits of IUL policies, marketing them under names such […]
AmeriLife Names Mike Vietri to Lead $7.2B Asset Wealth Arm
{January 23rd, 2023} by Allison Bell
AmeriLife Group has named separate managers for its wealth and health distribution teams — and pointed out that it now has $7.2 billion in assets under management. AmeriLife is a Clearwater, Florida-based financial distribution company that has used private equity firm backing to grow rapidly. The company has closed on 65 acquisitions since 2020 and […]
The 10 Most Popular Annuity Videos on YouTube: 2022
{January 23rd, 2023} by Allison Bell
Visiting YouTube can give you a taste of what clients are hearing about annuities in online ads and online personal finance shows. We’ve put together a list of the 10 YouTube videos related to the U.S. annuity market in 2022, based on the number of views received. Annuity video viewership is low when compared with […]
Life Insurance’s ‘New Normal’ Is a Major Opportunity for Modern Financial Advisors
{January 23rd, 2023} by Michael Konialian
As financial advisors sort through the aftermath of the pandemic, they will find that life insurance has been completely transformed. At the beginning of 2020, distributing life insurance was an arduous task — requiring multiple, often in-person meetings, awkward conversations on gory details of medical history, followed by time-consuming medical exams and paper applications. Click […]
New Bill Would Raise Capital Gains Tax on Wealthy New Yorkers
{January 23rd, 2023} by Allison Bell
A New York state legislator wants high-income, high-net-worth state residents to pay more taxes on capital gains. Sen. Gustavo Rivera, D-N.Y., introduced S. 2162 Thursday. The bill that would impose an additional state income tax ranging from 7.5% to 15% on the long-term capital gains of taxpayers with New York state taxable income over a […]
Who Benefits Most From Annuity Purchases?
{January 23rd, 2023} by John Manganaro
Anew paper published by the National Bureau of Economic Research investigates retirees’ optimal purchases of fixed and variable longevity income annuities using their defined contribution plan assets and given their expected Social Security benefits. The underlying analysis was put together by a trio of authors including Vanya Horneff and Raimond Maurer of the Goethe University […]
Kuvare and Aquarian Make Bermuda Deals
{January 23rd, 2023} by Allison Bell
Kuvare Holdings has broken through the thick new sheets of dealmaking ice. Higher interest rates and economic uncertainty have frozen announcements of mergers, acquisitions and other major deals in many sectors, but some companies in the life and annuity market have managed to start or close transactions anyway. Click HERE to read the full story […]
Secure 2.0 Act RMD Rules Open New IRA Planning Window
{January 23rd, 2023} by John Manganaro
Speaking on a recent webinar hosted by Carson Group, Jamie Hopkins, the firm’s managing director of wealth solutions, suggested the new extension of the required minimum distribution age to 73 is a key conversation starter for advisors and their clients in 2023. Hopkins was joined on the webinar by Christine Benz, Morningstar’s director of personal […]
5-Year Rollover Glut Has Swelled IRA Balances: Cerulli
{January 23rd, 2023} by John Manganaro
The exceptional capital market performance experienced between 2016 and 2021 translated to significantly higher average 401(k) account balances, which in turn drove a groundswell of rollovers into individual retirement accounts. This is one of the headline findings of the newly published Cerulli Report, “U.S. Retirement Markets 2022: The Role of Workplace Retirement Plans in the […]
New York Life Wealth Watch 2023 Outlook: 1-in-3 Individuals Hopeful About Finances in 2023, Despite Inflation, Recession Concerns
{January 23rd, 2023} by New York Life
NEW YORK–(BUSINESS WIRE)–While Americans continue to experience the challenges presented by inflation and a potential recession, New York Life’s latest Wealth Watch survey found that 66% of American adults are confident in their ability to reach their financial goals, and 1-in-3 feel hopeful about their finances at the end of 2022 going into 2023, reflecting […]
Reliance Standard Life Insurance and Matrix Absence Management Rebrand as Reliance Matrix, Delivering High-Tech and High-Touch Solutions to the U.S. Employee Benefits and Absence Management Markets
{January 23rd, 2023} by Reliance Standard Life Insurance Company
PHILADELPHIA–(BUSINESS WIRE)–Reliance Standard Life Insurance Company and Matrix Absence Management have rebranded as Reliance Matrix, a technology-driven absence and employee benefits company that provides financial protection and supplemental health plans for employees, while helping employers maximize productivity by managing time away from work. The two industry leaders have joined forces to bring integrated and personalized […]
Nationwide, NFL Engage Fans with New Fundraising Platform
{January 23rd, 2023} by Alltroo
MINNEAPOLIS, Jan. 17, 2023 /PRNewswire/ — The 32 nominees for the National Football League’s (NFL’s) Walter Payton NFL Man of the Year award presented by Nationwide are recognized not only for athletic excellence, but also because they make a positive impact off the field in their respective communities, representing the best of the NFL’s commitment to philanthropy. For […]
Simplicity Successfully Completes the Acquisition of IMS Associates and Welcomes Sean Giroux as the Group’s Newest Partner
{January 23rd, 2023} by Simplicity Group
SUMMIT, N.J., Jan. 19, 2023 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced the acquisition of IMS Associates (IMS), a brokerage general agency based in Orange County, CA that offers annuity, long-term care, disability, and all types of life insurance. With this transaction – Simplicity’s 50th – the Company welcomes IMS’ leader Sean Giroux as the Group’s newest Partner. “Sean and the entire […]
Kansas City Life Declares Quarterly Dividend
{January 23rd, 2023} by Kansas City Life Insurance Company
KANSAS CITY, Mo., Jan. 23, 2023 /PRNewswire/ — The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.14 per share on Jan. 23, 2023. The dividend will be payable on Feb. 8, 2023, to stockholders of record on Feb. 2, 2023. Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri. The Company’s primary […]
Deferred annuities are better deals than immediate annuities
{January 23rd, 2023} by Mark Hulbert
Not only does the early bird get the worm, he gets a higher annuity payout as well. That’s the finding of a new study that the National Bureau of Economic Research began circulating earlier this month. Entitled “Target Retirement Fund: A Variant on Target Date Funds That Uses Deferred Life Annuities Rather than Bonds to […]
NAIFA and WIFS Announce Stronger Partnership, Launch of Inaugural Women’s Financial Security Fly-In
{January 23rd, 2023} by Insurance Forums Staff
No strangers already, NAIFA and WIFS recently announced the two organizations have signed an expanded partnership agreement and are launching an inaugural women’s financial security fly-in set for March. The National Association of Insurance and Financial Advisors and Women in Insurance & Financial Services have agreed to continue to work closely together and support their mutual goals in the […]
Best Book on Annuities
{January 18th, 2023} by Sheryl J. Moore
I have a friend who asked me what the best book on annuities would be. I didn’t even know how to respond. I mean, is he asking about annuity sales? Annuity mechanics? Annuity psychology? Something else? What are the best annuity books you’ve read (warning: not your own book!), and why? Click HERE to Join […]
Horrifed by this Tik Tok
{January 18th, 2023} by Sheryl J. Moore
I am horrified by this Tik Tok on indexed life. Who said that 6%-8% was the “average return” on IUL? There is no place to substantiate that claim. It is “guaranteed growth?” Nearly every IUL has a minimum guaranteed interest rate of 0%. That IS NOT GROWTH. This is giving us all a bad name […]
