WealthVest, in partnership with Aspida, offers new Lighthouse Index from Janus Henderson and Societe Generale
{August 9th, 2022} by WealthVest
WealthVest, a financial services marketing and wholesaling firm, in conjunction with Aspida Life Insurance Company (“Aspida”), a life insurance and annuity company, is now offering crediting strategies on an exclusive index from Societe Generale and Janus Henderson Investors on Aspida’s WealthLockSM Accumulator Fixed Index Annuity. The WealthLock SM Accumulator FIA, distributed solely by WealthVest’s nationwide […]
Brighthouse Financial Announces Second Quarter 2022 Results
{August 9th, 2022} 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 second quarter ended June 30, 2022. Second Quarter 2022 Results The company reported net income available to shareholders of $957 million in the second quarter of 2022, or $12.77 per diluted share, compared with net income […]
Lincoln Financial Group Reports Second Quarter 2022 Results
{August 9th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the second quarter of 2022 of $238 million, or $1.34 per diluted share available to common stockholders, compared to net income in the second quarter of 2021 of $642 million, or $3.34 per diluted share available to common stockholders. Second quarter adjusted income […]
Equitable Holdings Reports Second Quarter 2022 Results
{August 9th, 2022} 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 second quarter ended June 30, 2022. “With our resilient business model and fair value hedging program, we continued to deliver robust results and our balance sheet remains protected amidst challenging economic conditions and declining markets. We […]
MetLife CFO John McCallion Provides Second Quarter 2022 Financial Update Video
{August 9th, 2022} 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 second quarter 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 the world’s leading […]
Should FAs Be Tested for Cognitive Decline?
{August 9th, 2022} by Sam Del Rowe
Financial advisors have several ways of dealing with clients who may be behaving erratically, including freezing their accounts. But what’s the course of action when it’s the advisor exhibiting cognitive decline? “[T]he awkward part of the conversation [is] it’s not just clients. It’s me, it’s you, it’s financial advisors. None of us is immune from capacity […]
Prudential Financial, Inc. Announces Second Quarter 2022 Results
{August 9th, 2022} by Prudential
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported second quarter results. Net loss attributable to Prudential Financial, Inc. was $565 million ($1.53 per Common share) for the second quarter of 2022, compared to net income of $2.158 billion ($5.40 per Common share) for the second quarter of 2021. After-tax adjusted operating income was $664 […]
Eight Ameriprise Financial Advisors Named to the Forbes Best-in-State Financial Security Professionals List
{August 9th, 2022} by Ameriprise
MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. today announced that eight of the firm’s financial advisors were named to the Forbes list of the “Best-in-State Financial Security Professionals” in the country. Forbes recognizes the top financial advisors and professionals in the insurance industry for their excellence in helping clients protect against the financial risks posed by disability, death, or job loss. The […]
A Majority of Americans Report a Financial Bright Spot Despite Declining Financial Confidence, According to New Findings from New York Life Wealth Watch Survey
{August 9th, 2022} by New York Life
NEW YORK–(BUSINESS WIRE)–As inflation remains elevated and the cost of everyday goods continues to rise, New York Life’s Wealth Watch Survey revealed that a majority (62%) of adults still report overall confidence in their ability to meet their financial goals, down from an average of 69% when compared to the beginning of the year. When asked to describe […]
Why a life insurance policy appraisal should be part of your toolkit
{August 9th, 2022} by William Scott Page
At the midpoint of the year, it’s always helpful for agents and advisors to perform a broad assessment of their annual goals and modify their sales and marketing strategies accordingly. Based on conversations with producers, agents, advisors and clients, here are three mid-year resolutions for better client relationships in our current bear market. Click HERE […]
How to get the most out of Life Insurance Awareness Month
{August 9th, 2022} by Avo Mseka
In a few short weeks, the life insurance industry will be participating in Life Insurance Awareness Month. LIAM, the public awareness campaign conducted by Life Happens to educate consumers about the critical role insurance plays in a family’s financial plan, starts Sept. 1. Click HERE to read the full story via INN
U.S. SEC addresses Wall Street ‘misconceptions’ about conflicts of interest
{August 9th, 2022} by Katanga Johnson
WASHINGTON, Aug 3 (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday published a staff bulletin that seeks to clarify how broker dealers and investment advisors must address conflicts of interest when providing advice and recommendations to investors. The guidance aims to spell out expectations amid industry “misconceptions,” an SEC official told reporters, […]
As stocks struggle, annuity sales soar to new heights
{August 9th, 2022} by Nathan Place
In a quarter marked by rising inflation, fears of recession and a volatile stock market, one financial instrument had a fantastic few months: annuities. In the second quarter of 2022, total annuity sales in the United States reached $77.5 billion — the highest quarterly sales ever recorded by LIMRA, an industry-funded firm that has been […]
Midwest Holding Schedules Conference Call to Review Results from Second Quarter of 2022
{August 9th, 2022} by Midwest Holding Inc
LINCOLN, Neb., Aug. 4, 2022 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT) today announced plans to host a conference call to discuss its financial and operating results for the second quarter of 2022 on August 16, 2022, at 8:30 a.m. Eastern Time. The Company also plans to post those results on the investor relations section of its website at https://ir.midwestholding.com after […]
CORRECTING and REPLACING American Financial Group, Inc. Announces Second Quarter Results
{August 9th, 2022} by American Financial Group
CINCINNATI–(BUSINESS WIRE)–Seventh paragraph, first sentence of release should read: “AFG had approximately $1.1 billion of excess capital (including parent company cash and investments of approximately $750 million) at June 30, 2022.” (instead of “AFG had approximately $1.1 billion of excess capital (including parent company cash and investments of approximately $1.7 billion) at June 30, 2022.”) […]
Fidelity Taps Instagram Influencers to Reach Women
{August 9th, 2022} by Alex Padalka
Fidelity has opted to reach out to women through a number of Instagram influencers with hundreds of thousands of followers as part of a successful effort to engage women on the topic of money, according to news reports. The company worked with marketing firm SheSpeaks to reach “popular social media personalities,” such as Los Angeles-based Camden Scott, a […]
Everything You Need to Know About Annuity Investing in 2022
{August 9th, 2022} by Allison Kade
If your clients are looking for ways to create an income stream for retirement, there’s a good chance you’ve at least thought about annuities. An annuity is an insurance contract through which investors pay premiums in return for a stream of payments for a specific period of time in the future. In some cases, that […]
New trial for Greg Lindberg? Judge sets hearing.
{August 9th, 2022} by Lauren Ohnesorge
Embattled billionaire Greg Lindberg could soon know whether to expect a new trial for federal bribery charges after his conviction was overturned. Click HERE to read the full story via Triangle Business Journal
With high inflation and volatility, do annuities make sense?
{August 8th, 2022} by William G. Lako
Rising interest rates, high inflation, and a declining stock market can push many investors to question their investment selection, especially those looking at retirement in a few short years. As such, the Secure Retirement Institute reported total U.S. annuity sales are at their highest since 2008. Does it make sense to purchase annuities in times […]
At the Perfect Time
{August 8th, 2022} by Karen Melchert and Brent Jones
Before long, Colorado will welcome its 6 millionth resident. Whether they are an infant or a transplanted retiree, the new Coloradoan will be arriving at the perfect time. That’s because of a recent Colorado state rule that puts all of its residents – new and old – in a better position to achieve financial security […]
Historical Snapshot the heck out of that!
{August 2nd, 2022} by Wink's Intel Pros
Starting with the 2Q2022, we will begin taking Historical Snapshots of our product specifications at the end of each quarter. This functionality gives you access to product specifications from past quarters. Wonder what the bonus used to be on that annuity? Check out the Historical Snapshot. How high was the street level compensation on that […]
It’s my hope to leave a lasting impression on regulators
{August 2nd, 2022} by Sheryl J. Moore
I have been attempting to get Indexed Life illustrated rates regulated and under control for more than 17 years. The gamesmanship that is occurring, to boost illustrated values with a combination of hybrid indices and bonuses, has gotten ridiculous. It is my hope that teaming up with my competitor, Bobby Samuelson, on a letter to the […]
AGA49a Joint Letter Samuelson Moore
{August 2nd, 2022} by Sheryl J. Moore
Please click 072522 AG49A Joint Letter Samuelson Moore to read the joint comment on the four potential options for handling the identified issue with Indexed Universal Life illustrations.
Product experts: Regulators need to end ‘gamesmanship’ of IUL illustrations
{August 2nd, 2022} by John Hilton
Sheryl Moore of Moore Market Intelligence and Bobby Samuelson of The Life Product Review took the unusual step of co-authoring a comment letter on Actuarial Guideline 49-A. The pair are competitors in the product intelligence field. Click HERE to read the full story via INN
Critics, Carriers Weigh in on Fractious Debate Over Indexed Life Illustrations
{August 2nd, 2022} by Aaron Smith
“I believe that a hard cap should be applied, with a range of returns that fluctuate on an outside benchmark, which is a barometer for prevailing interest rates,” said Sheryl Moore, CEO of market research firm Wink, in an email. Moore and Bobby Samuelson, president of Life Innovators and executive editor of The Life Product Review, and also five life insurers, submitted […]
Why Insurers Should Take a Closer Look at the Integrity-Annexus Deal
{August 2nd, 2022} by Cyril Tuohy
“This deal could potentially open up new deals for product development for Integrity,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, “If Integrity plans to open up the proprietary Annexus Group products to their existing distribution, it could mean more sales for insurance companies.” Click HERE to read the full story via […]
Annexus and Integrity Join Forces to Transform Annuity and Life Insurance Product Design and Distribution
{August 2nd, 2022} by Integrity Marketing Group
DALLAS, July 27, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire Annexus, the foremost independent insurance and financial product design and distribution company. As part of the transaction, Ron Shurts, Co-Founder and CEO […]
Index-Linked Variable Annuities Enter a New Stage of Differentiation
{August 2nd, 2022} by Cyril Tuohy
“Structured annuities are coming into their own,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. “They are maturing, and innovating just as we would expect of a product that is a decade old.” Click HERE to read the full story via Life Annuity Specialist
11 Best Life Insurance Companies of August 2022
{August 2nd, 2022} by Georgia Rose
The life insurance market in the U.S. is competitive, made up of a mix of longstanding insurers and newer “insurtechs” that sell policies online. To narrow down our list of the best life insurance companies, we looked at customer complaints data, consumer experience and financial strength. We also assessed the types of policies on offer, […]
RILAs: One way to keep the ‘risk on’ in retirement
{August 2nd, 2022} by David Blanchett
These are difficult times for investors. So far in 2022, stocks and bonds are down, and inflation is up. While this may scare many investors away from investing in risky assets such as stocks, maintaining an exposure to the stock market can be essential for retirees who need to fund income for 30 years or […]
Sounding The Alarm On Indexed Universal Life Insurance
{August 2nd, 2022} by Ed Leefeldt and Les Masterson
For more than a decade, indexed universal life insurance (IUL) has been one of the life insurance industry’s most profitable businesses. New IUL premiums increased by 29% in the fourth quarter of 2021 alone, according to LIMRA, an industry-funded financial research company. Click HERE to read the full story via Forbes Wink’s Note: What?!? Okay- there […]
Ameriprise Sees 11% Increase in Advisor Productivity
{August 2nd, 2022} by Allison Bell
Ameriprise Financial says its move to sell financial services products from other companies is going well. James Cracchiolo, the Minneapolis-based company’s CEO, noted Wednesday that the company has built up a force of 10,200 financial advisors, and that the average productivity of those advisors increased 11% between the second quarter of 2021 and the latest quarter, to […]
The 3 Top Issues at Industry Events Now
{August 2nd, 2022} by Bill Simpson
As financial services conferences have returned to in-person, the critical role they play has become more apparent. What we have missed over the past couple of years is how pivotal they have been in facilitating discussions in real-time while helping industry professionals keep a pulse on the first-hand challenges both financial companies and their advisors […]
Schumer-Manchin Deal May Raise Some Life Insurers’ Taxes
{August 2nd, 2022} by Allison Bell
The new Inflation Reduction Act of 2022 package could have an obvious effect on any insurance agents or financial advisors who help clients with health finance issues. The 725-page package could also have an indirect effect on life and annuity advisors, through provisions that do not mention life insurers directly but that could increase some […]
Independent RIAs, Clients’ Annuities and Fiduciary Control
{August 2nd, 2022} by Scott Bowers
The growth of the fee-based advice model has led to a sea change in how financial advisors do business. It’s no longer enough to possess working knowledge of stocks, bonds, and relationship-building skills. Click HERE to read the full story via ThinkAdvisor
New York Asks Life Insurers for Disaster Plan Updates
{August 2nd, 2022} by Allison Bell
The New York State Department of Financial Services has sent life insurers, retirement systems, health insurers and other life and health coverage providers a request for their new disaster response plans. Carriers are supposed to send in their updated disaster response plans and business continuity plans by Oct. 7. Click HERE to read the full […]
House Financial Services Committee OKs Annuity Bill
{August 2nd, 2022} by Allison Bell
The House Financial Services Committee has approved a bill that could lead to a big increase in the number of registered index-linked annuities on the market. Committee members approved H.R. 4865, the Registration for Index-Linked Annuities Act, on Thursday by a unanimous vote. Click HERE to read the full story via ThinkAdvisor
The New Rollover Rule Is Here: Are You Complying?
{August 2nd, 2022} by Thomas D. Giachetti
The new Department of Labor rule is now in effect. Is your firm doing everything required to comply with the new retirement rollover requirements as set forth in PTE 2020-02? I recently sat down with my colleague, Joe Antonakakis, to discuss compliance with the new rule. Antonakakis explained that the rule is designed to promote investment advice that is […]
Life’s Risks: Flying Low and Fast
{August 2nd, 2022} by Bill White
We are always told that life is full of risks, but the thought of my Navy F-14 Tomcat being shot down really hit home to me while flying low altitude photo reconnaissance missions over a war zone in Bosnia-Herzegovina. The risks were ever-present — starting in flight school, preparing for deployment, and then actually flying […]
Integrity Marketing to Acquire Annuity Designer Annexus
{August 2nd, 2022} by Allison Bell
Integrity Marketing — a big, rapidly growing life insurance and annuity distributor — today announced a deal that could turn it into a giant life and annuity product designer. The Dallas-based company has agreed to acquire Annexus, a company best known as a company that designs annuities and permanent life insurance products for companies like […]
Digital Life And Income Insurance (Tech) Companies Is A Growing Trend
{August 2nd, 2022} by Ken Leibow
We see what I like to call “digital insurance companies” and think instant issue and direct-to-consumer for low priced limited benefit products. Click HERE to read the full story via Broker World
Protective Life
{August 2nd, 2022} by Broker World
Protective Life Corporation, a wholly owned U.S. subsidiary of Dai‑ichi Life Holdings, Inc., (TSE:8750) announced the launch of its Protective Aspirations variable annuity product, issued by its principal subsidiary Protective Life Insurance Company (“Protective”). “Whatever you aspire to achieve in retirement, it should be protected,” said Jim Wagner, chief distribution officer for Protective. Click HERE to […]
Allianz Life
{August 2nd, 2022} by Broker World
To help clients who are looking for growth potential paired with a level of protection from market volatility, Allianz Life Insurance Company of North America (Allianz Life) has released enhancements on its Allianz Accumulation Advantage fixed index annuity (FIA). The FIA has been re-engineered to offer more competitive rates, along with the addition of the new […]
Broker Words—August 2022
{August 2nd, 2022} by Stephen Howard
Sad news indeed for those of us who appreciate the brokerage business as it was in years past. An icon of those days, David Lenaberg, Ph.D., passed on April 20 in High Point, NC. Prior to his insurance career, Lenaberg earned a Ph.D. in mathematics from LSU and served as a professor there. Click HERE […]
Why Use An IMO?
{August 2nd, 2022} by Charlie Gipple
Once upon a time, the insurance companies that manufacture life, annuity, and long term care products generally owned their distribution. What that meant was the insurance agent that sold an insurance company’s products to the end-consumer was also an employee of the insurance company. For these “captive/career” companies, they were—and still are—able to provide training, […]
AM Best Affirms Credit Ratings of Horace Mann Educators Corporation and Its Subsidiaries
{August 2nd, 2022} 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 property/casualty (P/C) members of Horace Mann Insurance Group (Horace Mann), and Horace Mann Life Insurance Company (Horace Mann Life). In addition, AM Best has affirmed the FSR of A (Excellent) […]
Barron’s Names Global Atlantic Among 100 Best Annuities for Income and Growth
{August 2nd, 2022} by Global Atlantic Financial Group
NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, today announced its inclusion in the annual Barron’s list of the Best Annuities. Annuities issued by Global Atlantic subsidiary Forethought Life Insurance Company were recognized by Barron’s in the Registered Index-Linked Annuities and Fixed-Indexed Annuities categories. ForeStructured Growth, the firm’s registered index-linked annuity (RILA), was recognized as […]
American Equity Schedules Second Quarter 2022 Earnings Release, Conference Call and Webcast
{August 2nd, 2022} by American Equity Investment Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) announced today that it will release second quarter 2022 earnings and other financial results after the close of market on Monday, August 8, 2022. The second quarter earnings release and financial supplement will be posted on the American Equity IR website at https://ir.american-equity.com/ at that […]
CNO Financial Group Reports Second Quarter 2022 Results
{August 2nd, 2022} by CNO Financial Group, Inc.
CARMEL, Ind., Aug. 1, 2022 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ended June 30, 2022, net income was $136.1 million, or $1.16 per diluted share, compared to $78.0 million, or $0.58 per diluted share, in 2Q21. Net operating income (1) in 2Q22 was $100.1 million, or $0.85 per diluted share, compared to $89.1 million, or $0.66 per diluted share, in 2Q21. “CNO posted another […]
Liberty Bankers Insurance Group Launches Agent Portal
{August 2nd, 2022} by Liberty Bankers Insurance Group
DALLAS, Aug. 1, 2022 /PRNewswire/ — Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and financial products, today announced the launch of an Agent Portal for its Home Service, PreNeed, and Supplemental Health lines of business. “Combining our high-touch, personalized service with a robust online Agent Portal, the LBIG team is available for support when […]
Kansas City Life Announces Second Quarter 2022 Results
{August 2nd, 2022} by Kansas City Life Insurance Company
KANSAS CITY, Mo., July 29, 2022 /PRNewswire/ — Kansas City Life Insurance Company recorded net income of $4.5 million or $0.46 per share in the second quarter of 2022, an increase of $0.2 million or $0.02 per share relative to the second quarter of 2021. In the first six months of 2022 we recorded a net loss of $3.2 million or $0.33 per share, compared to net income of $3.6 million or $0.37 per […]
Northwestern Mutual Leads Industry in Forbes’ Ranking of “Top Financial Security Professionals”
{August 2nd, 2022} by Northwestern Mutual
MILWAUKEE, July 28, 2022 /PRNewswire/ — Northwestern Mutual advisors represent more than one quarter of the honorees on Forbes’ 2022 “Top 100 Financial Security Professionals” list, with over 270 advisors recognized as “Best-In-State Financial Security Professionals.” Northwestern Mutual’s majority representation in this year’s Forbes ranking exceeds that of its competitors and marks the highest participation rate on a single industry recognition list in company […]
Northwestern Mutual deepens its decade-long commitment to fighting childhood cancer with $2 million donation to Alex’s Lemonade Stand Foundation
{August 2nd, 2022} by Northwestern Mutual
MILWAUKEE, July 27, 2022 /PRNewswire/ — Marking the 10-year anniversary of its Childhood Cancer Program, Northwestern Mutual, through its Foundation, has committed $2 million to Alex’s Lemonade Stand Foundation (ALSF) to support the organization’s Crazy 8 Initiative. As the initiative’s largest funder, Northwestern Mutual’s investment will support research for innovative and rigorous approaches that address the most intractable issues in […]
The Majority of Americans Say Their Financial Planning Needs Improvement, But Only a Third Seek Professional Help
{August 2nd, 2022} by Northwestern Mutual
MILWAUKEE, July 27, 2022 /PRNewswire/ — More than six in 10 Americans (62%) say their financial planning needs improvement, yet only a third (35%) seek the help of a financial advisor according to the latest set of findings from the Northwestern Mutual 2022 Planning & Progress Study. The data also revealed a more near-term trend showing a […]
Hybrid Work Reduced Attrition Rate by a Third, Study Shows
{August 2nd, 2022} by Reade Pickert
Hybrid work reduced attrition rates at a large technology firm by 35% and improved self-reported work satisfaction scores, with no negative impact on performance ratings or promotions, according to a new study co-authored by Nicholas Bloom of Stanford University. Click HERE to read the full story via Bloomberg
Northwestern Mutual: Should Student Loan Borrowers Also Get Life Insurance?
{August 2nd, 2022} by Northwestern Mutual
NEW YORK, July 29, 2022 (GLOBE NEWSWIRE) — With student loan debt in the United States currently estimated to total $1.762 trillion, the price of higher education is quickly taking its toll on many households. Borrowers may be wondering if they need to consider their student loans when purchasing life insurance coverage. The answer to this depends on what […]
National Guardian Life Insurance Company sells Settlers Life Insurance Company
{August 2nd, 2022} by National Guardian Life Insurance Company
National Guardian Life Insurance Company (NGL), a Madison-based mutual life insurance company, announced the sale of Settlers Life Insurance Company, a Wisconsin domiciled insurer, to Everly Holdings, LLC, the owner of Everly, LLC, a direct-to-consumer insurance agency. Approximately 225,000 policies that are geographically disbursed throughout the United States consisting of final expense and single premium […]
Insurance Agents Are Unknowingly Breaking DOL Rules, Attorney Says
{July 27th, 2022} by Tracey Longo
A number of insurance agents may be violating U.S. Department of Labor rules by accepting “conflicted compensation” from annuities sales for rollovers from retirement assets because their insurance companies haven’t educated them, according to Fred Reish, a partner in the law firm of Faegre Drinker. Click HERE to read the full story via Financial […]
Wink’s Demo on Index Intel!
{July 26th, 2022} by Wink's Intel Pros
Hybrid indices have been the primary source of indexed insurance companies’ product management efforts over the past few years. An insurance company has difficulty being taken seriously in their indexed offering, without one of these “uncapped” index offerings. “Insurance companies used to be protective about the sales of volatility-controlled/proprietary/bespoke indices because they were new” states […]
Life Insurance In Retirement: The Retirement Power Hour
{July 26th, 2022} by Sheryl J. Moore
I had a personal experience that changed my life and motivated me to work in the life insurance industry. Click HERE to check it out! -sjm
UBS launches US equity-focused Climate Aware Equity Index to help investors meet environmental and financial goals
{July 26th, 2022} by UBS
NEW YORK–(BUSINESS WIRE)–UBS today announced the launch of the US version of the UBS Climate Aware Equity Index, which is a rules-based strategy that aims to provide investment exposure to the long-term theme of transitioning to a low carbon and climate resilient economy. he index aims to serve the increasing demand for investment and retirement products […]
Great American Life Launches New Registered Index-Linked Annuity For Investment Advisors
{July 26th, 2022} by Great American Life Insurance Company
CINCINNATI–(BUSINESS WIRE)–Great American Life Insurance Company® expanded its fee-based product line with the launch of the new Index Achiever® Advisory registered index-linked annuity (RILA). Designed to complement clients’ existing portfolios and strengthen their financial plan, this product offers market-linked growth opportunity and reduced risk with several types of partial downside protection to choose from. In comparison to […]
As the First Variable Annuity Turns 70, TIAA’s CREF Proves as Powerful as Ever
{July 26th, 2022} by TIAA
NEW YORK, July 20, 2022 /PRNewswire/ — The same conditions that made the TIAA CREF variable annuity so revolutionary when it was introduced in July 1952 are again demonstrating the value of the innovative solution on its 70th anniversary. Between 1940 and 1950, Americans faced skyrocketing inflation that almost halved their purchasing power. At the same time, life expectancy […]
Allianz Life Announces Enhancements to Accumulation Advantage Annuity
{July 26th, 2022} by Allianz Life
MINNEAPOLIS – July 19, 2022 – To help clients who are looking for growth potential paired with a level of protection from market volatility, Allianz Life Insurance Company of North America (Allianz Life) has released enhancements on its Allianz Accumulation Advantage® fixed index annuity (FIA). The FIA has been re-engineered to offer more competitive rates, along with […]
Oceanview Life Names James Ryan Executive Vice President of Marketing
{July 26th, 2022} by Oceanview Life and Annuity Company
PHOENIX–(BUSINESS WIRE)–Oceanview Life and Annuity Company (“Oceanview Life”), an insurance company, today announced that James Ryan has been appointed Executive Vice President of Marketing, effective July 11, 2022. Mr. Ryan will be responsible for Oceanview’s marketing function while also playing a key role in business development and relationship management activities. He will be based in […]
Account Value Drop Cools Annuity Exchanges: Nationwide’s Eric Henderson
{July 26th, 2022} by Allison Bell
Falling stock prices can hurt efforts to help variable annuity owners take advantage of improving product guarantees. Eric Henderson, president of Nationwide Annuity at Nationwide Financial, talked about that challenge Friday, in an interview. Click HERE to read the full story via ThinkAdvisor
Fee-Based Advisors Feel More Successful: American College
{July 26th, 2022} by Allison Bell
Fee revenue tends to make U.S. financial advisors and life insurance agents feel as if they’re getting somewhere. Researchers at the Center for Women in Financial Services, an arm of the American College of Financial Services, gathered data on the mood-enhancing properties of fee revenue when they conducted a survey of about 800 U.S. advisors […]
Post-Pandemic Life and Your Clients’ Life Insurance Needs
{July 26th, 2022} by Wade Deward
I know I am not alone in thinking that since the start of the pandemic, time has lost all meaning. What used to feel like an hour now sometimes feels like a day, and what used to take a month now happens in a minute. However, like many others, I’ve come to realize that what […]
House Again Asks SEC for an Index-Linked Annuity Filing Form
{July 26th, 2022} by Allison Bell
The House Appropriations Committee is still trying to persuade the Securities and Exchange Commission to make things easier for issuers of registered index-linked annuities. The committee has added a provision asking the SEC to create a filing form just for RILA issuers in a comment on its SEC funding recommendations for federal fiscal 2023. Click […]
Global Atlantic’s First Structured Annuity Has a Moving Floor
{July 26th, 2022} by Cyril Tuohy
Global Atlantic Financial Group has jumped into the market for structured annuities with a product that has a dynamic, moving “floor” to protect against losses. Click HERE to read the full story via Life Annuity Specialist “I can’t think of anyone that currently does the same as this,” said Peter Lamond, variable annuity product director […]
5 Biggest Life Markets in the World, Now
{July 26th, 2022} by Allison Bell
The United States still has the biggest life insurance and annuity market in the world, and, in 2021, it was one of the faster-growing large markets. The Swiss Re Institute, a research arm of Swiss Re, has posted country-by-country premium data, expressed both in U.S. dollars and in local currencies, in its latest world insurance report. Click HERE […]
After a blistering 2022 in life/annuity sales, expect a cooler 2023, S&P says
{July 26th, 2022} by Steven A. Morelli
The life insurance and annuity industry were definite winners in the pandemic with their highest growth in premium in a decade, but that momentum might slow into the four years, according to the latest market report from S&P Global. Even before the Federal Reserve started raising interest rates, the industry was benefiting from conditions around […]
The Most Worry in Years: Americans Are Increasingly Anxious About a Recession As Inflation Cuts into Spending Power
{July 26th, 2022} by Allianz Life
Allianz Life study finds majority of Americans say their income is not keeping up with rising expenses Key findings: 66% worry that a major recession is right around the corner, up from 48% at this time last year 82% say they worry about rising inflation continuing to have a negative impact on the purchasing power […]
Tontines Are Alive, and They Could Compete With Annuities in the U.S.
{July 26th, 2022} by Allison Bell
Some retirement policy specialists want to create a new U.S. personal pension program based on tontines. Financial professionals who paid attention to the history lessons in their early licensing exam courses may have vague memories of tontines being a problem that U.S. life insurers outgrew. Click HERE to read the full story via ThinkAdvisor
The Standard Recognized as a Best Place to Work for Disability Inclusion
{July 26th, 2022} by The Standard
PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company (The Standard) scored 100% on the Disability Equality Index and was named a “Best Place to Work for Disability Inclusion” by the American Association of People with Disabilities, the nation’s largest disability rights organization, and Disability:IN, the global business disability inclusion network. “We’re thrilled to be included on the 2022 Disability Equality Index […]
New Study: More Than Two-Thirds of Americans Don’t Know that Social Security is Protected Against Inflation
{July 26th, 2022} by Nationwide
COLUMBUS, Ohio, July 19, 2022 /PRNewswire/ — Continued financial repercussions from the pandemic, new concerns over market volatility and high inflation are leading two-thirds of Americans (66%) to worry more now than they did before about their retirement income, according to the Nationwide Retirement Institute‘s ninth annual Social Security Consumer Survey. That’s a 10 percentage-point spike from 2021. […]
Wade Pfau Takes a Balanced Look at a Retirement Product Some Advisors Love to Hate
{July 26th, 2022} by Ed McCarthy
Variable annuities are big business. According to LIMRA, total variable annuity sales were $32.3 billion in the fourth quarter of 2021, an increase of 17% from the prior year. For the full year 2021, total sales were $125.6 billion, 27% higher than the prior year. But if you want to start a debate among financial […]
Northwestern Mutual Earns Perfect Score in Leading National Index for Disability Inclusion
{July 26th, 2022} by Northwestern Mutual
MILWAUKEE, July 20, 2022 /PRNewswire/ — Northwestern Mutual announced today that the company earned its fourth consecutive perfect score on the Disability Equality Index (DEI) – one of the most trusted and comprehensive national benchmarks for measuring disability inclusion in the workplace. “Northwestern Mutual continues to take meaningful steps to strengthen its culture of inclusivity – one […]
Fidelity National Financial Announces Second Quarter 2022 Earnings Release and Conference Call
{July 26th, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., July 19, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (the “Company”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF’s wholly-owned subsidiary, F&G, will release second quarter 2022 earnings […]
Most Gen Zers Prefer Financial Advice from TikTok, YouTube
{July 26th, 2022} by Alex Padalka
Financial advisors are competing with video social media platforms to provide financial advice to Gen Z investors — and losing, according to a recent survey. Just 24% of Gen Z consumers rely on a financial advisor for financial advice, marketing company Vericast says it found in a survey of 1,000 adults in the U.S. Click HERE to […]
The 60/40 Strategy Will Make a Comeback: Morgan Stanley
{July 26th, 2022} by Tassia Sipahutar
The classic 60/40 portfolio, where investments are split 60% in stocks and 40% in bonds, is merely resting and isn’t dead, Morgan Stanley’s chief cross-asset strategist said, after the strategy had its deepest first-half dive since 1988. The approach offers higher estimated long-term returns in the U.S. and Europe over the next decade than at […]
Patrick Bet-David and PHP Agency Join Integrity to Accelerate Growth and Serve More People
{July 26th, 2022} by Integrity Marketing Group
DALLAS, July 20, 2022 (GLOBE NEWSWIRE) — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire PHP Agency, an industry-leading field marketing organization (“FMO”) based in Addison, Texas. As part of the acquisition, […]
Equitable told teachers their variable annuity fees were $0.00, SEC says
{July 26th, 2022} by Tobias Salinger
Equitable Financial Life Insurance agreed on July 18 to pay $50 million to settle SEC fraud charges alleging that it sent “materially misleading” account statements to 1.4 million annuity holders over the past six years. Equitable, a target of critics who assert the company is predatory toward teachers, a core market for the annuities industry, left out […]
Brad Rhodes: Some reasons why women should consider annuities for retirement
{July 26th, 2022} by Salisbury Post (NC)
Below are some reasons why women should consider using annuities to create more prosperous, less stressful retirements. If you’re a woman in or near retirement, let me ask you this: “How do you plan to take what you’ve so diligently saved and turn it into a lifetime stream of dependable, predictable, tax-advantaged income?” Click HERE […]
William Lako : With high inflation and volatility, do annuities make sense?
{July 26th, 2022} by Marietta Daily Journal (GA)
Rising interest rates, high inflation, and a declining stock market can push many investors to question their investment selection, especially those looking at retirement in a few short years. As such, the Secure Retirement Institute reported total U.S. annuity sales are at their highest since 2008. Does it make sense to purchase annuities in times of volatility and uncertainty? […]
4 Financial Steps to Care for Your Child with Special Needs
{July 26th, 2022} by Josh Monroe
Article excerpt: Once the special needs trust is created, it needs to be funded with enough assets to provide for your child for the rest of their life. If you do not have enough savings and other assets, life insurance can be an excellent tool and is used by many parents to create instant liquidity […]
Economic Headwinds Are Eroding American Retirement Confidence
{July 26th, 2022} by FA Staff
A series of bad headlines could be taking its toll on retirement savers. For the first time in several years, retirement confidence fell in BlackRock’s “Read on Retirement” survey. After peaking at 68% last year, the number of respondents saying they are on track for retirement declined to 63% in this year’s survey. A total […]
How Advisors Can Better Help Managing Decumulation
{July 26th, 2022} by Lauren Drapeau
Prudent investors typically spend decades building wealth for retirement. With the help of their financial advisor, they create and update a financial plan and develop a portfolio of investments to accumulate the wealth they will use to fund their post-working years. One day, they finally reach retirement. Click HERE to read the full story via […]
Equitable to Pay $50M for Misleading Teachers on Annuity Fees
{July 19th, 2022} by Melanie Waddell
The Securities and Exchange Commission announced fraud charges late Monday against Equitable Financial Life Insurance Co. for providing account statements to about 1.4 million variable annuity investors that included materially misleading statements and omissions concerning investor fees. Equitable agreed to pay $50 million to harmed investors, most of whom are public school teachers and staff […]
The Evolution of the Index with Sheryl Moore
{July 19th, 2022} by John Hilton
An explosion in the growth of proprietary indices and indexed products continues. But regulators are circling. What will the next generation of indexed products look like? Indexed products are popular, offering apparent upside and little downside. But regulators are wary. The growth of proprietary indices has critics claiming consumers are confused and misled by rosy […]
NAIC subgroup tees up another crackdown on IUL illustrations
{July 19th, 2022} by John Hilton
After a five-month hiatus, a state regulator group met today to again consider tightening Actuarial Guideline 49A to rein in life insurance illustrations. The Indexed Universal Life Illustration Supgroup held a short call to restart its discussion on the problematic IUL illustrations. Adopted in 2015, AG 49 failed to bring IUL illustrations in line, so […]
It’s chock-full of good articles!
{July 19th, 2022} by Sheryl J. Moore
Just getting caught-up on my reading, and Steve Howard‘s Broker World is chock-full of good articles this month. Luke Cosme made a great point that all viable solutions need to be considered, when it comes to life insurance products. Don Levin reminded me of the power of the hand-written note in his contribution. Charlie Gipple, CFP®, CLU®, ChFC® had a piece […]
Global Atlantic announces new registered index-linked annuity to help retirees balance growth potential and risk management
{July 19th, 2022} by Global Atlantic Financial Group
NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (Global Atlantic), a leading financial services company, announced the launch of ForeStructured Growth, the first registered index-linked annuity (RILA) to be issued by a company subsidiary. The annuity provides retirees with meaningful growth potential alongside interest crediting strategies designed to limit the risk of performance losses. Interest crediting options include […]
Protective Launches Protective® Aspirations Variable Annuity Product
{July 19th, 2022} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation, a wholly owned U.S. subsidiary of Dai‑ichi Life Holdings, Inc. (TSE:8750) today announced the launch of its Protective® Aspirations Variable Annuity product, issued by its principal subsidiary Protective Life Insurance Company (“Protective”). According to a 2022 consumer survey,1 the most important service consumers of all ages seek from a financial professional is “understand how […]
Symetra Enhances Registered Index-Linked Annuities Suite
{July 19th, 2022} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Amidst ongoing market volatility, Symetra Life Insurance Company today announced new enhancements to its suite of registered index-linked annuities (RILAs), including new indexed account choices for Symetra Trek® Plus, and a new Auto Return Lock feature available for all RILAs. Symetra Trek® Plus new indexed account options—Symetra added five new optional indexed account choices with a 10% […]
Penn Mutual introduces new Accumulation Indexed Universal Life
{July 19th, 2022} by The Penn Mutual LIfe Insurance Company
HORSHAM, Pa., July 6, 2022 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, announces the introduction of Accumulation Indexed Universal Life (AIUL), a permanent life insurance product providing protection and cash accumulation potential backed by more than 175 years of financial strength. “AIUL offers clients strong upside accumulation potential with downside protection […]
Finseca and NAIFA work together to address unnecessary burdens placed on the professionals dedicated to providing financial security for millions of Americans
{July 19th, 2022} by Finseca and NAIFA
WASHINGTON, D.C. (July 15, 2022) – The following joint statement from Finseca and NAIFA was issued today regarding the National Conference of Insurance Legislators’ (NCOIL) advancement of a resolution regarding Recruitment, Retention, and Diversity within the Life Insurance Agent Profession. “Helping more Americans achieve financial security starts with a financial plan and having access to a financial security […]
Some State Lawmakers Troubled by Private Equity’s Growing Life & Annuity Stake
{July 19th, 2022} by Allison Bell
State lawmakers are wondering what they should think about the growing role of private equity fund owners in the life insurance and annuity sector. Members of the National Council of Insurance Legislators, a group for state lawmakers with an interest in insurance, recently held a well-attended session on the private equity ownership issues today, at […]
Central banks to continue with interest rate hikes
{July 19th, 2022} by INN Insider Pro
Series of large interest rate hikes by the Federal Reserve put pressure on central banks around the world to follow suit and counter rising inflation and a strong dollar. An analysis by the Financial Times reveals that central banks are now opting, more than at any time this century, for large rate hikes of 50 […]
Life insurers see increased variable universal life sales compared to universal life and indexed universal life products, according to annual Milliman survey
{July 19th, 2022} by Milliman, Inc.
SEATTLE , July 14, 2022 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 15th annual Milliman study of universal life (UL), indexed universal life (IUL), and variable universal life (VUL) issues. The study is based on a survey of 27 UL/IUL/VUL companies and focuses on current topics that impact these […]
Can a Registered Index-Linked Annuity Protect Your Clients in a Down Market?
{July 19th, 2022} by Robert Bloink and William H. Byrnes
With interest rates rising and the stock market showing no signs of a rebound, many clients may be considering whether now might be the right time to lock some of their funds into an annuity product. Registered index-linked annuities (also known as “RILAs,” index-linked annuities or buffer annuities) have surged in popularity in recent years. For […]
Q2 Life, Health and Annuity Earnings Calendar: A Return to Volatility
{July 19th, 2022} by Allison Bell
Publicly traded life, health and annuity issuers are about to tell investors what rising interest rates, inflation and geopolitical uncertainty did to their earnings in the quarter that ended June 30. Issuers could also face questions about the recent increase in COVID-19 hospitalization counts. Click HERE to read the full story via ThinkAdvisor
‘Great Resignation,’ Covid-19 forcing employers to sweeten benefits
{July 19th, 2022} by Gregg Greenberg
Employers seeking to hold onto their top talent had better boost their benefits offerings — and not necessarily the financial ones. Click HERE to read the full story via InvestmentNews
State Lawmakers Question Insurer Life Policy Buyout Offers
{July 19th, 2022} by Allison Bell
Some U.S. life insurers have tried to shed life insurance policy guarantee risk by using temporary cash incentives to persuade the holders to surrender their policies. A group for state insurance lawmakers said Saturday that state insurance regulators should try to block insurers’ efforts to make temporary life insurance policy buyout offers. Click HERE To […]
Annuities Are Still Too Complicated: Robert Powell
{July 19th, 2022} by Allison Bell
Robert Powell helps the annuity writers talk to the annuity distributors. Powell is vice president of wealth management sales at iPipeline, a financial services distribution technology company based in Exton, Pennsylvania. The teams he leads support wealth management and insurance distributors. Click HERE to read the full story via ThinkAdvisor
USAA Customers Have a Strong Grip on Their Life Policies: Researchers
{July 19th, 2022} by Allison Bell
USAA — a policyholder-owned insurer that has historically focused on serving military veterans and their relatives — may be the big U.S. life insurer with the lowest policy lapse rate. A team of researchers led by Ralph S.J. Koijen has presented data supporting that conclusion in a new analysis of how economic slumps affect which […]
Clients’ Universal Life Policies Might Contain a Retirement Planning Boost
{July 19th, 2022} by Allison Bell
Many clients who come in with newly purchased individual life insurance policies may have something extra in their portfolios: long-term care benefits. Two actuaries at Milliman — Carl Friedrich and Michelle Krysiak — have included a section on long-term care riders in a new report on sales of U.S. individual universal life, indexed universal life […]
Integrity Announces Innovative Industry Trailblazer Bryan Hunsaker as President, Integrity Contact Centers
{July 19th, 2022} by Integrity Marketing Group
DALLAS – JULY 14, 2022 – Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced Bryan Hunsaker will become President, Integrity Contact Centers. Hunsaker will oversee Integrity’s expansive contact center and telephonic agent efforts. He will also work closely with other members of Integrity’s […]
Annuities Industry Among Beneficiaries Of Surging Interest Rates
{July 19th, 2022} by Edward Hayes
While there is mixed reaction to the Federal Reserve’s decision to raise interest rates by a record-breaking 75 basis points, the annuity industry is benefiting, and those that offer the products are making sure clients know about them. Annuities are investments commonly associated with their monthly payouts. Many use these investment vehicles as a regular […]
Economic Outlook Suddenly Not So Dire
{July 19th, 2022} by Rich Blake
It’s the dead of summer, but for advisors and investors there’s a hint of spring-like hope in the air, sort of. For starters, as Dealbreaker pointed out, how much worse can it get? In other words, just because the stock market endured its worst first-half since 1970, with the S&P 500 losing 21% since its January peak, […]
E*TRADE from Morgan Stanley Study Reveals Education Costs Are a Leading Reason Young Investors Dip Into Retirement Savings
{July 19th, 2022} by E Trade
ARLINGTON, Va.–(BUSINESS WIRE)–E*TRADE from Morgan Stanley today announced results from the most recent wave of StreetWise, its quarterly tracking study of experienced investors. As graduation season comes to a close, results show the impact education costs have on investors just embarking on their investment journeys: Young investors are withdrawing early to pay for education. Of the nearly […]
Northwestern Mutual Expands Business Accelerator for Black Entrepreneurs to Include Five Promising Tech Startups
{July 19th, 2022} by Northwestern Mutual
Program provides each startup with $100,000 and access to training and resources MILWAUKEE, July 13, 2022 /PRNewswire/ — Northwestern Mutual, in partnership with gener8tor, today announced the addition of five tech startups to its Black Founder Accelerator program – an initiative the company launched this past year to provide targeted resources and financing to promising Black entrepreneurs nationwide. “This next […]
Inflation, Recession and Healthcare Costs Continue to Keep Americans Age 50+ Up at Night When It Comes to Their Retirement, New F&G Survey Finds
{July 19th, 2022} by Fidelity & Guaranty Life
DES MOINES, Iowa, July 12, 2022 /PRNewswire/ — Four out of five Americans age 50+1 (80%) say they are worried about inflation in retirement, according to a new survey from F&G, a leading provider of insurance solutions serving retail annuity and life customers and institutional clients. This feeling is even more acute among pre-retirees (84%) vs. 76% of […]
Simplicity Acquires Chesapeake Brokerage Becoming the 40th Business to Join the Fast-Growing Group
{July 19th, 2022} by Simplicity Group
SUMMIT, N.J., July 12, 2022 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced the acquisition of Chesapeake Brokerage (“Chesapeake”), a Delaware-based firm specializing in the distribution of life, LTC and annuity products to independent agents and advisors. With this new partnership, Simplicity welcomes Jeff Levy and Marge Levy as Partners, both of whom will continue to manage the day-to-day business operations of Chesapeake, while transitioning […]
Simplicity Completes its 41st Acquisition, Welcoming Life Policy Pros to the Group and Founder Michael Kelly as Partner
{July 19th, 2022} by Simplicity Group
SUMMIT, N.J., July 14, 2022 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced the acquisition of Life Policy Pros, Inc. (“Life Policy Pros”), a NJ-based firm specializing in the distribution of life insurance to independent financial advisors and insurance agents. With this new partnership, Simplicity welcomes founder Michael Kelly as the group’s newest partner. “Mike Kelly has tremendous experience in the […]
Ty J. Young Wealth Management Acquires Annuity Pros, LLC
{July 19th, 2022} by Ty J. Young Wealth Management
ATLANTA, July 14, 2022 /PRNewswire/ — Ty J. Young Wealth Management, one of Atlanta’s largest financial advisory practices, has announced it has acquired Annuity Pros, LLC. The acquisition of the Gulf Breeze, FL based financial services firm marks Ty J. Young’s 22nd acquisition in the past four years as part of its rapid nationwide expansion. “It’s our honor to have the opportunity to serve […]
Brighthouse Financial Announces Conference Call to Discuss Second Quarter 2022 Results
{July 19th, 2022} by Brighthouse Financial, Inc
CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) announced today that it plans to hold a conference call and audio webcast to discuss its financial results for the second quarter ended June 30, 2022, at 8:00 a.m. Eastern Time on Friday, August 5, 2022. The call will follow the issuance of the Brighthouse […]
More Than Half of Black Employees Say the Pandemic Caused Them to Re-Evaluate What Matters Most Financially
{July 19th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–The pandemic’s onset in the U.S. has surpassed the two-year mark and the crisis has had long-term effects on financial attitudes and behaviors across various demographics—including a few silver linings. According to Lincoln Financial Group’s (NYSE: LNC) 2021 Retirement Power® study, Black employees are more likely than the total population to report the pandemic […]
MassMutual Releases Inaugural Sustainability Report
{July 19th, 2022} by MassMutual
SPRINGFIELD, Mass., and BOSTON–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (MassMutual) today released its 2021 Sustainability Report, highlighting the company’s long-standing commitment and progress across key environmental, social, and governance (ESG) topics. The inaugural report emphasizes that sustainability is integral to how MassMutual delivers value and stability for its stakeholders, and details the company’s efforts to advance diversity, […]
Horace Mann announces second-quarter results were affected by higher-than-historical average catastrophe activity and equity market declines
{July 19th, 2022} by Horace Mann Educators Corporation
SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today announced it experienced second-quarter catastrophe losses well above the company’s 10-year historical average. In addition, the significant equity market declines during the quarter resulted in unfavorable DAC unlocking. “The confluence of external events that is temporarily impacting our financial performance does not detract from our unwavering commitment […]
Global Atlantic subsidiary named to Ward’s 50 top life and health insurers for thirteenth consecutive year
{July 19th, 2022} by Global Atlantic Financial Group
NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group, a leading financial services company, today announced that its subsidiary, Forethought Life Insurance Company, has been named a Ward’s 50® top life and health insurance company for the thirteenth consecutive year. Forethought Life Insurance Company is the primary issuer of annuities and preneed life insurance products for Global Atlantic. No other […]
Pacific Life Updates Underwriting Guidelines to Expand Life Insurance Options to Individuals Living With HIV
{July 19th, 2022} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has expanded its offering of life insurance coverage to eligible individuals living with human immunodeficiency virus (HIV). “In keeping with our progressive approach to underwriting, we are leveraging the latest medical advancements in therapeutics for HIV in order to offer coverage to individuals living with this chronic condition,” said Dawn […]
Protective Life Corporation Names Kathryn Cox Senior Vice President and President of Protection Division
{July 19th, 2022} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced that Kathryn Cox has joined the company as senior vice president and will serve as president of the company’s Protection Division, effective July 12, 2022. In her role, Cox will lead sales, new business operations, product development and underwriting […]
AM Best Affirms Credit Ratings of Guardian Life Insurance Company of America and Its Subsidiaries
{July 19th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Guardian Life Insurance Company of America (Guardian Life) (New York, NY) and its core subsidiaries, Guardian Insurance & Annuity Company, Inc. (Wilmington, DE) and Berkshire Life Insurance Company of America (Pittsfield, […]
AM Best Affirms Credit Ratings of Global Atlantic Financial Group Limited and Its Subsidiaries
{July 19th, 2022} 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 Commonwealth Annuity and Life Insurance Company (Brighton, MA), First Allmerica Financial Life Insurance Company (Brighton, MA), Forethought Life Insurance Company (Indianapolis, IN), Accordia Life and Annuity Company (Des Moines, IA), […]
Pacific Life Recognizes Wholesalers for Contributions to the Industry
{July 19th, 2022} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life is a platinum corporate sponsor of the Association for Wholesaling Diversity (AWD) and continues to invest in efforts that increase diversity, equity, and inclusion in the financial industry. Sponsoring AWD is especially important for Pacific Life as it employs a large wholesaling team, and AWD is dedicated to the ongoing […]
Pacific Life Responds to Need for More Flexibility and Market Protection with New Annuity Offerings
{July 19th, 2022} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has launched Pacific Choice® 2, a new variable annuity, along with a new optional living benefit—Investment Guard. Pacific Choice 2 is an enhanced version of Pacific Life’s flagship variable annuity—Pacific Choice®—which has been available to consumers for nearly a decade. Pacific Choice 2 was designed to be more flexible and […]
Reg BI Makes FINRA’s Top Customer Arb List, a First
{July 19th, 2022} by Melanie Waddell
Arbitration cases related to the Securities and Exchange Commission’s Regulation Best Interest have, for the first year, made the Financial Industry Regulatory Authority’s top dispute resolution list. Through May 2022, breach of Reg BI comes in at No. 14 on FINRA’s most recent dispute resolution statistics under the category Top 15 Controversy Types in Customer Arbitrations. Click HERE […]
A Top LPL Advisor and Advocate Talks Secure Act 2.0, DOL Fiduciary Rule
{July 19th, 2022} by Jane Wollman Rusoff
The Department of Labor’s Obama-era fiduciary rule is dead — but not forgotten. LPL Financial’s Government Relations Council chair, Judy VanArsdale, meets regularly with congresspeople and senators in Washington to talk about legislation that could affect clients and the industry, and the short-lived rule still comes up. Click HERE to read the full story via […]
Annuity Sales Went BOOM in Second Quarter, Setting Record
{July 19th, 2022} by Cyril Tuohy
Limra is estimating overall annuity sales in the second quarter at $75 billion to $76 billion, an all-time high for any three-month period. Click HERE to read the full story via Life Annuity Specialist Wink’s Note: Wink will publish the second quarter’s sales in August 2022. Wink’s Sales & Maret […]
FAs Weigh In: ‘Definitely Not Going Back to Suit and Tie’
{July 19th, 2022} by Rita Raagas De Ramos
FA-IQ reached out to advisors to ask: What changes have you implemented in the way you run your practice because of the Covid-19 pandemic? Do you expect those changes to stick even after the pandemic is over? Click HERE to read the full story
NAILBA Charitable Foundation 2022 Grant Application
{July 19th, 2022} by NAILBA
In a time when competition for grant money is fierce, the NAILBA Charitable Foundation is dedicated to providing funds to well-run charities in our communities that may not otherwise have access to additional funding. Visit our GRANTS page for complete details on how to help a charity in your community apply for a grant from the NAILBA […]
Top Causes of Death in U.S. for 2021 by Age Group
{July 18th, 2022} by Mary Pat Campbell
Yesterday, CDC updated the provisional 2021 database of death data on WONDER, and there was no longer censored data for 2021. Huzzah! There may still be some small details that get changed before the CDC adds 2021 to the finalized death data set, as there does require review and data cleaning before finalization. Even before […]
NAIFA’S TOP LEADERS, RENOWNED KEYNOTES, AND AN OLYMPIC GOLD MEDALIST HIGHLIGHT NAIFA-FL EVENT
{July 18th, 2022} by NAIFA
The NAIFA-FL Financial Advisors Sales Symposium featured nationally known keynote speakers, insightful educational breakout sessions, and a high-powered panel discussion by members of NAIFA’s top national leadership, including President Lawrence Holzberg, LUTCF, LACP, President-Elect Bryon Holz, CLU, ChFC, LUTCF, CASL, LACP, Secretary Tom Cothron, LUTCF, FSCP, and CEO Kevin Mayeux, CAE. Main stage speakers included […]
Appeals Court Overturns Bribery Conviction of Insurance Entrepreneur
{July 18th, 2022} by Leslie Scism
A federal appeals court ordered a new trial for imprisoned insurance executive Greg Lindberg, who was convicted of attempting to bribe a state insurance commissioner with campaign contributions to secure more favorable regulatory treatment for his insurers. Mr. Lindberg’s seven-year prison sentence is among the stiffest for white-collar defendants in recent years. Click HERE to read the full […]
Investors Pour Cash Into Higher-Yielding Fixed Annuities
{July 18th, 2022} by Leslie Scism
Losses on stocks and bonds, plus higher interest rates, have turned investors toward fixed-rate annuities, a haven that is offering decent yields for the first time in years. Second-quarter sales of various types of annuities are projected to top $74 billion, setting a record, according to life-insurance-industry-funded research firm Limra. That would be more than […]
Recorded Webinar: The Evolution of the Index
{July 18th, 2022} by Sheryl J. Moore
Hey there. Were you busy on Wednesday? Have a migraine? Have to call-in sick because of your kid? Fear not! My webinar was recorded. See here!
Simplicity Group Agrees to Acquire LifePro Financial Services and Will Welcome Heather Ulz and Ben Nevejans as Partners
{July 18th, 2022} by Simplicity Group
SUMMIT, N.J., July 7, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”) today announced that it has entered into a definitive agreement to acquire LifePro Financial Services, Inc. (“LifePro”), a San Diego-based financial products distribution business serving independent financial professionals across the country with a range of financial planning and sales and marketing supports. The agreement with LifePro marks […]
4 Things to Consider Before Buying a Deferred Income Annuity: FINRA
{July 18th, 2022} by Melanie Waddell
Deferred income annuities, also referred to as longevity insurance, are often purchased as an alternative to a pension by those seeking a set amount of guaranteed income in their later years, the Financial Industry Regulatory Authority explains in a new notice. But investors should do their homework before buying DIAs. Click HERE to read the […]
Michelle DeCarlo Of Lincoln Financial Recognized As 2022 Woman Worth Watching
{July 17th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group announced today that Michelle DeCarlo, senior vice president and divisional chief information officer of IT for the company’s corporate functions, was named by Profiles in Diversity Journal to its 2022 “Women Worth Watching® in STEM” list. Each year, this esteemed award recognizes high-achieving women in the science, technology, engineering or mathematics (STEM) […]
The Evolution of the Index with Sheryl Moore: July 13th
{July 12th, 2022} by Jamie Johnson
An explosion in the growth of proprietary indices and indexed products continues. But regulators are circling. What will the next generation of indexed products look like? Indexed products are popular, offering apparent upside and little downside. But regulators are wary. The growth of proprietary indices has critics claiming consumers are confused and misled by rosy […]
A MYGA? Fixed-Indexed Annuity? New Product Straddles Categories.
{July 12th, 2022} by Cyril Tuohy
Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, said Ibexis’ MYGA Plus is employing the same kind of “performance triggered strategy” that has been used on indexed annuities for decades. A rise in the index simply triggers a higher payout on the product. “Ibexis is just guaranteeing the declared rate for a period […]
Historical Snapshot the heck out of that!
{July 12th, 2022} by Jamie Johnson
Starting with the 2Q2022, we will begin taking Historical Snapshots of our product specifications. This functionality gives you access to product specifications from past quarters. Wonder what the bonus used to be on that annuity? Check out the Historical Snapshot. How high was the street level compensation on that contract two years ago? A […]
Policyholders wait as Greg Lindberg insurers remain stuck in receivership
{July 12th, 2022} by John Hilton
Of the nearly 84,000 policyholders of the Southland National Insurance Corp., currently in receivership, all but two are expected to receive their full policy value thanks to the backstop provided by state guaranty associations. Southland is one of four insurers owned by troubled billionaire Greg Lindberg. All are in a receivership supervised by the North […]
New Life and Annuity Guarantees Are Still Out There
{July 12th, 2022} by Allison Bell
Life and annuity issuers have been a little quiet in recent weeks, but some announcements about new products, new alliances and other strategy choices have been trickling out. Here’s a look at the ideas that seem to be shaping the new moves. 1. Offer guarantees. The Penn Mutual Life Insurance Co. has introduced an Accumulation […]
Life Application Activity Loses COVID-Era Luster
{July 12th, 2022} by Allison Bell
Your clients’ purchases of life insurance policies may now look more like they did before the COVID-19 pandemic started. Consumers filed 6% fewer applications for individual life insurance in June than they filed in June 2021, according to MIB Group’s new U.S. application activity report. But activity was strong earlier in the year, and overall […]
Stock Market Volatility Could Hammer Some Annuity Issuers: Analysts
{July 12th, 2022} by Allison Bell
The financial wind howling outside may have knocked some shingles off some life and annuity issuers’ roofs in the second quarter. A Morgan Stanley team led by Nigel Dally sizes up the companies’ storm resistance in a new earnings preview article. The second quarter ended June 30. UnitedHealth Group, a health insurer, will kick off […]
Jackson to Report Second Quarter 2022 Financial Results
{July 12th, 2022} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) will announce financial results for the second quarter ended June 30, 2022 after market close Tuesday, August 9, 2022. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Wednesday, August 10, 2022 at 10 a.m. ET to review […]
AM Best Affirms Credit Ratings of Massachusetts Mutual Life Insurance Company and Its Subsidiaries
{July 12th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Massachusetts Mutual Life Insurance Company (MassMutual) (domiciled in Springfield, MA) and its life/health subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company (both domiciled in Enfield, CT). […]
Protective Launches Protective Aspirations Variable Annuity Product
{July 12th, 2022} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation, a wholly owned U.S. subsidiary of Dai‑ichi Life Holdings, Inc. (TSE:8750) today announced the launch of its Protective® Aspirations Variable Annuity product, issued by its principal subsidiary Protective Life Insurance Company (“Protective”). According to a 2022 consumer survey,1 the most important service consumers of all ages seek from a financial professional is “understand how […]
