Global Atlantic subsidiary named to Ward’s 50 top life and health insurers for thirteenth consecutive year
{July 12th, 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 […]
Principal Launches New Variable Annuity Buffer Funds to Help Safeguard Investors From Market Volatility
{July 12th, 2022} by Principal
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® today announced the launch of new buffer fund investment options within its variable annuity business aimed at helping customers balance the need to build and protect savings in retirement with managing risk. The new investment options provide both market growth and limited downside protection – two key factors shifting variable […]
Four out of Five Americans Cite Inflation and Recession Anxieties as Top Retirement Income Concerns
{July 12th, 2022} by Alliance for Lifetime Income
WASHINGTON, July 11, 2022 /PRNewswire/ — As high inflation persists into the second half of the year, most Americans ages 45 to 75 are worried about the dual risks of high inflation reducing spending power in retirement (81%) or a recession driving the economy down and impacting retirement income (79%). That anxiety is manifesting in real-world behavior as […]
As Indexed Life Sales Jump, Penn Mutual Rolls Out New Product
{July 12th, 2022} by Warren S. Hersch
Separately, Wink reported National Life Group was the product segment’s top seller in the first quarter, with an 11.1% market share. Others among the top five included Pacific Life, Nationwide, Transamerica, and John Hancock. Click HERE to read the full story via Life Annuity Specialist
Making Advisors’ Lives Easier Is New Way Into $9.3T Market
{July 12th, 2022} by Cyril Tuohy
“These outsourced insurance desks are erupting because of the new registered investment advisor distribution that has come into the annuity space since the initial discussions of the best interest standard,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. Moore said just 1.2% of the $59.7 billion first quarter annuity sales were coming through […]
New York Life Picks Company Veteran to Lead Retail Annuities
{July 12th, 2022} by Allison Bell
New York Life Insurance Co. has picked Todd Taylor to be the head of its retail annuities unit. The unit generated $13 billion in individual annuity sales in 2021, or about 5% of all 2021 U.S. individual annuity sales. Taylor, who will become a senior vice president, has been a vice president at New York […]
Kings of the Hill
{July 6th, 2022} by John Hilton
When Sheryl Moore started her market research company 17 years ago, there were exactly a dozen indexes on which one could earn interest from an indexed annuity product. Today, there are at least 150 different indexes being tracked by Wink Inc. and Moore, president and CEO of the company. Ninety-four percent of them are hybrid […]
‘Crazy’ evolution of life, annuity indexes draws scrutiny, says expert
{July 6th, 2022} by John Hilton
Indexed products are driving the life insurance sales train, a leading market expert said this week, but dark clouds are lurking. For one, regulators are likely to take another look at a regulation dealing with indexed life illustrations, said Sheryl Moore, president and CEO of Moore Market Intelligence. Likewise, lawsuit activity is up, targeting a […]
Indexes must evolve with inflation, rising rates, says NAFA panel
{July 6th, 2022} by John Hilton
Many popular indexes supporting annuities and life insurance today might not work as well in a recessionary, high-inflation, and rising interest rate environment. Click HERE to read the full story via INN ………………………………………………………… Industry veteran Sheryl Moore noted the growth of indexes during a recent Wink, Inc. webinar. When Moore started Wink, a […]
Annuity Hedging Is Working Well: Milliman’s Adam Schenck
{July 6th, 2022} by Allison Bell
When your clients are trying to manage personal financial risk, they call you, and you might help them buy annuities, or cash-value life insurance. When the issuers worry about what the S&P 500 is doing, some of them call Adam Schenck. Click HERE to read the full story via ThinkAdvisor
How to keep fraudsters from taking over your client’s annuity account
{July 6th, 2022} by Joy Dawe
Annuity account takeovers continue to be a serious fraud scheme within the financial services industry. If you are unfamiliar with this concept, this is how it works: Fraudsters gain access to annuity client information; this usually occurs from a breach of client information. Click HERE to read the full story via INN
New lawsuit seeks class action for victims of alleged fraudulent IUL sales
{July 6th, 2022} by John Hilton
A new lawsuit filed last month adds to the legal liability for Minnesota Life Insurance Co. and its partner independent marketing organization caught up in an alleged pension fraud scam. Shurwest, an Arizona-based IMO, appeared to be on its way to consolidating, negotiating and settling the scores of lawsuits it faces. The IMO filed for […]
Indexed product sellers see ‘attractive’ markets after Fed rate hikes
{July 6th, 2022} by John Hilton
When the Federal Reserve announced a historic 0.75-percentage-point rate hike last week, it sent many financial markets into a chaotic state. One market that should benefit from the rate hike, however, is the annuity marketplace, experts say. Specifically, indexed products, which thrive on offering stability when the financial landscape is most unstable. Click HERE to […]
Nationwide adds death benefit features to Defined Protection RILA
{July 6th, 2022} by Press Release
Columbus, OH – Nationwide announced the launch of enhanced legacy features to the Nationwide Defined Protection Annuity (DPA), a registered index-linked annuity. The two new death benefit features, which are available at no extra cost, are uniquely positioned to fit the emerging needs of financial professionals and their clients in today’s challenging economic environment. Return of Premium […]
Insurance Marketing Automation For Distributors/Advisors And API Magic For Carrier Illustrations
{July 6th, 2022} by Ken Leibow
In my last Tech-Tock article, I wrote about learning about the latest innovation in insurtech by attending onsite industry conferences. I am very excited to continue to inform you of the latest technology that can help your business grow and stay on the cutting edge. Sorry for the cliché. I continue to discover more new tech innovations […]
My Amphibious Suburban And Life Insurance
{July 6th, 2022} by Charlie Gipple
Some of my fondest memories as a kid have to do with being on the lake in a boat enjoying water sports. So once I had kids it became a burning desire to torture them as I drove the boat and they held on to the tubes for dear life. So, we bought a boat! […]
Down Markets Create Opportunity
{July 6th, 2022} by Charles Arnold
In May, I attended a VUL academy meeting hosted by John Hancock where we talked about positioning ideas, illustration best practices, and resources available to BGAs and insurance agents when utilizing VUL products. Variable universal life insurance has experienced a strong resurgence in recent years for a variety of factors, but mainly market-related, regulatory, and […]
2022 Milliman Long Term Care Insurance Survey
{July 6th, 2022} by Claude Thau, Allen Schmitz, FSA, MAAA and Chris Giese, FSA, MAAA
The 2022 Milliman Long Term Care Insurance Survey is the 24th consecutive annual review of stand-alone long-term care insurance (LTCI) published by Broker World magazine. It analyzes the marketplace, reports sales distributions, and describes available products. More discussion of worksite sales, including a comparison of worksite sales distributions vs. non-worksite sales distributions will be in […]
Broker Words- July 2022
{July 6th, 2022} by Stephen Howard
There is a series of commercials on TV these days (from a cable service that I despise due to their termination/billing practices) where the spots show two unrelated programs that magically merge into a single action sequence as a result of the customer flipping rapidly back and forth between the two. Serena Williams…Wonder Woman…Serena…Wonder Woman…then […]
Best’s Special Report: With Spiking Mortality Rates Come Sharp Increase in Life Insurers’ Paid Death Benefits
{July 6th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Analysis by AM Best shows U.S. life insurance companies’ paid death benefits increased dramatically over the past two years, with the average amount of claims in 2020-2021 up 37.9% compared with the previous eight years. In its Best’s Special Report, “Mortality Risk Worsening Due to COVID-19,” AM Best states that COVID-19 was the main reason for […]
AM Best Affirms Credit Ratings of Thrivent Financial for Lutherans
{July 6th, 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 Rating (Long-Term ICR) of “aa+” (Superior) of Thrivent Financial for Lutherans (Thrivent) (headquartered in Minneapolis, MN). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Thrivent’s balance sheet strength, which AM Best assesses as strongest, […]
New Annuity From Investors Heritage Helps Policyholders Grow Assets Into Retirement
{July 6th, 2022} by Investors Heritage
FRANKFORT, Ky.–(BUSINESS WIRE)–Investors Heritage Life Insurance Company (“Investors Heritage”) today announced the launch of its newest fixed index annuity (“FIA”) – the Heritage Growth Advantage (“HGA”) – designed to help policyholders grow their assets as part of their retirement planning. Unlike with most other FIAs where rates may be reduced by the carrier, the HGA […]
Liberty Bankers Insurance Group Releases Enhancements to On-the-Spot Underwriting
{July 6th, 2022} by Liberty Bankers Insurance Group
DALLAS, July 5, 2022 /PRNewswire/ — Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and financial products, today announced enhancements to its On-the-Spot underwriting process for Medicare Supplement applicants. On-the-Spot is a point-of-sale digital decision tool that accelerates the underwriting process for Medicare Supplement coverage. While traditional underwriting processes may take days or weeks, LBIG’s […]
Mann elected President, Ameritas Investment Company, LLC and Ameritas Advisory Services, LLC
{July 6th, 2022} by Ameritas
LINCOLN, Neb., July 5, 2022 /PRNewswire/ — Effective June 26, Brandon Mann was elected president and director of Ameritas Investment Company, LLC (AIC) and Ameritas Advisory Services, LLC (AAS) Ryan Beasley, Ameritas executive vice president – individual division, announced. Mann joined Ameritas in 2017 as a relationship manager in AIC. He quickly moved into a key leadership role for the organization, […]
Ameritas announces new Hall of Fame inductee
{July 6th, 2022} by Ameritas
CINCINNATI, July 5, 2022 /PRNewswire/ — Ran Gupta, Total Asset Planning, is the newest member of the Ameritas Hall of Fame, Ameritas president and CEO Bill Lester announced today. Gupta will enter the Hall of Fame as a 2022 inductee. The prestigious Hall of Fame award is the highest honor an Ameritas field partner can achieve. The award recognizes […]
Penn Mutual Receives National Award for Excellence in Data and Analytics
{July 6th, 2022} by The Penn Mutual LIfe Insurance Company
HORSHAM, Pa., June 30, 2022 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce its recognition as a 2022 Insurance Technology Impact Award Winner from the Aite-Novarica Group Insurance Technology Research Council (Aite-Novarica). The Impact Awards represent the largest purely peer-juried awards in the industry. Winners are […]
Integrity Announces Appointment of Respected Insurance Industry Leader Tom Dempsey as Chief Distribution Officer
{July 6th, 2022} by Integrity Marketing Group
Former Head of Transamerica Financial Network and President/CEO of World Financial Group will oversee Integrity’s rapidly growing Life, Health and Wealth sales organizations DALLAS, June 30, 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 Tom Dempsey will join its […]
5 Factors Shaping Life and Annuity Providers’ Q2 Performance
{July 6th, 2022} by Allison Bell
Life and annuity issuers will lurch to the end of the second quarter Thursday, and then get ready to tell investors what the heck just happened. The companies that promise to protect your clients against death, disability, long-term care risk and longevity risk faced a storm of lemons. While some insurers were able to make […]
Buyers Seeking Income Are Turning More Often to Buffered Annuities
{July 6th, 2022} by Cyril Tuohy
Six structured annuities offer guaranteed lifetime withdrawal benefits, said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. “This is a relatively new market, so any growth is going to look significant,” she said in an email. Click HERE to read the full story via Life Annuity Specialist
Why Women Don’t Seek Financial Advice
{July 6th, 2022} by James Rogers
Advisors should create a safe space, provide education and keep it simple, according to SEI’s Shauna Mace. Click HERE to view the video via Financial Advisor IQ
Ride the annuity bull market (while you can)
{July 6th, 2022} by Gregg Greenberg
CNBC “Mad Money” host Jim Cramer famously proclaims, “There’s always a bull market somewhere.” Click HERE to read the full story via InvestmentNews
Buyers Still Want Life and Health Brokers: Stacy Kirshner
{July 6th, 2022} by Allison Bell
The new investment market volatility has slowed some deals involving insurers — but not the pace of acquisitions for life, health and annuity brokers. Stacy Kirshner, a managing director with the transaction advisory group at Alvarez & Marsal, gave that assessment in a recent email interview. Alvarez & Marsal is a professional services group that’s […]
Corporate-Owned Life Insurance Can Hold Executive Teams Together: Hector Martinez
{July 6th, 2022} by Allison Bell
Hector Martinez has an idea about something different you could offer high-income clients: corporate-owned life insurance, or COLI. Martinez became head of life insurance at Equitable Financial Life Insurance Company about a year ago. One of his duties is to tell advisors about the variable universal life and indexed-linked life insurance policies Equitable Financial offers for […]
5 Ways Life Insurance Can Boost Clients’ Retirement Plans
{July 6th, 2022} by Ed McCarthy
The Setting Every Community Up for Retirement Enhancement (or Secure) Act has made IRAs a less convenient vehicle for estate planning, sending advisors looking for other tax-friendly ways to pass wealth to heirs. Life insurance is one such option, and Secure Act-proofing an estate plan isn’t the only benefit it can provide a retired client. […]
On a journey to understand the changing financial landscape
{July 6th, 2022} by John Forcucci
This year, like many recent years here in the Northeast where I live, the majority of spring was relatively cool — sometimes downright cold. Then it suddenly heated up as we edged closer to July, in some cases jumping from the 50s one day to 90 degrees the next. We often say that we really […]
Happy 4th of July!
{June 29th, 2022} by Wink's Intel Pros
The Wink offices will be closed July 1st-4th for an extended holiday.
Put your thinking cap on: Innovation in annuity products
{June 29th, 2022} by Sheryl Moore
Unlike life insurance product development, the annuity market always seems to have something going on. New features and different riders come and go. The array of available options seems to be endless. Here, we lay out some of the industry trends in annuity product development. Read Annuity Trends page 30 in NAILBA’s ID Trends, CLICK […]
Annuity Awareness Month Edition
{June 29th, 2022} by Wink's Intel Pros
June is Annuity Awareness Month! We reprinted our Chief Storyteller, Sheryl Moore’s most requested annuity-focused articles all month long; they are indicated with “reprint” in the title. You’ll find these timeless articles are still relevant today. Annuity Awareness Month aligns perfectly with Wink’s top priority of ensuring that the public has the needed information and […]
Jackson’s Cure for Retirement Planning Paralysis: Go-Karts
{June 29th, 2022} by Allison Bell
Jackson has a solution for retirement planning clients’ inability to focus: Get them to ride go-karts. Or, run through sprinklers. The company now offers clients a play wellness program to make retirement planning seem less overwhelming. The Lansing, Michigan-based annuity issuer sees inflation, rising interest rates, technology and Congress as some of the major forces shaping […]
How many indexed crediting methods are enough?
{June 29th, 2022} by Sheryl J. Moore
Click to join the conversation!
Report Shows How Aggressively Some Carriers Are Using Reinsurance
{June 29th, 2022} by Cyril Tuohy
Many large annuity issuers are now linked to private equity firms, and they’re reinsuring a lot of their liabilities to affiliated companies in the small island nation of Bermuda. That’s what Retirement Income Journal discovered when it analyzed data last year for the top 10 fixed-indexed annuity sellers, based on Wink data. Click HERE to read via […]
Life Insurance, Annuities and R&D Tax Credits
{June 29th, 2022} by Brent Johnson
The life insurance and annuities industries are changing with the times and becoming more tech-savvy. Insurance technology advances make life easier for both customers and agents, from customers reporting a claim to agents interfacing with clients. Insurtech also helps insurance companies stay visible in a crowded market. As a result, digital experiences, technology solutions, operational […]
Offshore Reinsurers Back Many of Your Clients’ Life and Annuity Arrangements
{June 29th, 2022} by Allison Bell
Northwestern Mutual thinks it’s strange to see U.S. life and annuity issuers making waves of offshore reinsurance deals that “free up capital.” Andrew Vedder, vice president for enterprise risk management at Northwestern Mutual, told state insurance regulators about the company’s concerns earlier this month, in a comment letter. Click HERE to read the full story via ThinkAdvisor
Dividing the Annuity Value Pie
{June 29th, 2022} by Harry N. Stout
Annuity critics frequently state that annuity products are just not worth it. They say that the only ones making money from annuities are the salesperson and the issuing life insurance company. Certain critics further state that annuity buyers are the last ones to obtain value from the product they purchase. The critics go on to […]
Regulators Need a Fictional Variable Annuity Issuer
{June 29th, 2022} by Allison Bell
Imagine a model office providing many different types of products, with many different types of assets. That office would produce a wide range of reserve and capital results. State insurance regulators plan to hire consultants to create such a simulation of a variable annuity issuer. The results could help the National Association of Insurance Commissioners […]
Phyllis Borzi: DOL’s New Rollover Rules a ‘Reasonable Step Forward’
{June 29th, 2022} by Melanie Waddell
Phyllis Borzi, the former head of the Labor Department’s Employee Benefits Security Administration under President Barack Obama, sees Labor’s new fiduciary prohibited transaction exemption (PTE) 2020-02, Improving Investment Advice for Workers & Retirees, as “a reasonable step forward” for those firms and their representatives who want to continue to receive conflicted compensation. But the “basic […]
No one ‘listens’ themselves out of an annuity sale
{June 29th, 2022} by Jeff Barnes
Annuities sometimes get a bad rap. Clients may hear the word “annuity” and conclude all annuities are the same. Many don’t realize that there are different categories of annuities and there are many different types and designs within each of these categories. Click HERE to read the full story via INN
Filling the Gap Left Behind by GoFundMe
{June 29th, 2022} by Samuel Howe
You’ve seen these campaigns in growing numbers over the past decade or so – you’ve likely donated to them yourself. Sometimes it’s someone you know personally who has been in a car wreck or suffered an unexpected diagnosis; other times, an acquaintance is passing the virtual hat for a close friend of theirs who needs […]
How Annuity Risks Get Passed to the Bermuda Triangle
{June 29th, 2022} by Kerry Pechter
Leading private equity-linked fixed indexed annuity (FIA) issuers ceded the risk (the liability) of 95% of their 2021 sales to the balance sheets of affiliated or co-owned reinsurers located mainly in Bermuda. To assess the role of reinsurance in the today’s annuity industry, RIJ recently obtained and analyzed key pages from the most recent state statutory filings […]
Principal Survey Shows Retirement Goal “Reset” for Many U.S. Workers Amid Recent Market Volatility and Inflation
{June 29th, 2022} by Principal
DES MOINES, Iowa–(BUSINESS WIRE)–American workers cite saving enough for retirement as their top financial priority in a new survey by Principal Financial Group®, replacing dreams of a lavish retirement with simpler goals of maintaining the current standard of living amid ongoing market volatility and inflationary pressures. The Principal® Retirement Security Survey included nearly 1,000 consumers and 215 plan sponsors […]
Best’s Special Report: U.S. Life Insurer Earnings Decline in 2021 Despite Highest New Premium Growth in Over Three Decades
{June 29th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–U.S. life insurance companies in 2021 reported first-year individual life direct premium growth of 25% — the highest growth rate in the segment in more than 30 years. However, according to a new AM Best report, more than half of the insurers reported an operating loss despite the spike in new business. In its Best’s Special […]
After Two Years of the Pandemic, Americans Place High Value on Tailored Financial Strategies
{June 29th, 2022} by Allianz
MINNEAPOLIS–(BUSINESS WIRE)–As Americans continue to manage their finances during the uncertainty brought on by the pandemic, financial planning with the assistance of a professional is helping them feel more confident about the future. More than nine in 10 respondents (93%) said setting financial goals and developing a plan to achieve them is important to helping […]
AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries
{June 29th, 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 Pacific Life Insurance Company and Pacific Life & Annuity Company (collectively referred to as Pacific Life Group). Both companies are headquartered in Newport Beach, CA. Additionally, AM Best has affirmed the […]
Global Atlantic Introduces Your Thriving Practice, a New Podcast for Financial Professionals
{June 29th, 2022} by Global Atlantic Financial Group
NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, today announced the launch of the Your Thriving Practice, a podcast developed to help financial professionals build, manage, and grow their businesses. Your Thriving Practice explores some of the most pressing topics facing financial professionals today, with discussions covering the latest news, industry trends, and […]
The Road Ahead: Addressing Pandemic-Related Setbacks and Strengthening the U.S. Retirement System
{June 29th, 2022} by Transamerica Center for Retirement Studies
New research examines the retirement outlook of the workforce and the urgent need for action LOS ANGELES, June 28, 2022 /PRNewswire/ — Fewer than three in 10 workers (29 percent) “strongly agree” they are building a large enough retirement nest egg, according to Emerging From the COVID-19 Pandemic: The Retirement Outlook of the Workforce, a survey report released today by nonprofit Transamerica Center for Retirement Studies® (TCRS) in collaboration with Transamerica Institute®. “Without doubt, the COVID-19 pandemic has […]
Velocity Life Insurance Agency Accelerates Growth through Integrity Partnership
{June 29th, 2022} by Integrity Marketing Group
Integrity’s robust, end-to-end systems will empower Virginia-based Velocity to provide a wider range of technology, products and resources to its fast-growing network of agents DALLAS, June 28, 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 acquired Velocity Life Insurance […]
Kevin Mechtley Named to Sammons Independent Annuity Group Leadership Team
{June 29th, 2022} by Sammons Financial Group, Inc.
Product development, market intelligence, and distribution teams positioned for success WEST DES MOINES, Iowa, June 28, 2022 /PRNewswire/ — Sammons® Financial Group, Inc. has named Kevin Mechtley to a new role as Vice President, Business Development and Chief Innovation Officer. In this position, Mechtley will have a dual focus on new product innovation and strategic relationship building. Mechtley – who moves […]
ApexAdvantageSM Fixed Index Annuity Launches, Focused on Competitive Early Income
{June 29th, 2022} by Legacy Marketing Group
LINCOLN, Neb.–(BUSINESS WIRE)–Ameritas Life Insurance Corp. (Ameritas) today announced the launch of ApexAdvantage, a new limited distribution annuity product available exclusively through a select group of Independent Marketing Organizations (IMOs): Advisors Excel, Creative One, and Gradient Financial Group. “We’re thrilled to join forces with these prestigious IMOs,” said Robert Jurgensmeier, Executive Vice President – Independent […]
Demographics and interest rate policy favor annuities: LIMRA
{June 29th, 2022} by Editorial Staff
The US population aged 65 or over is expected to grow by more than 8.5 million by 2026, LIMRA said. Individual annuity sales cluster around age 65. Click HERE to read the full story via RIJ
The Evolution of the Index with Sheryl Moore
{June 29th, 2022} by John Hilton
[Upcoming Webinar — July 13, 2022] 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 […]
NAILBA Charitable Foundation
{June 22nd, 2022} by NAILBA
The NAILBA Charitable Foundation is dedicated to building communities, helping build local charities striving to aid those in need – that’s our goal each year! The Foundation is now accepting grant applications through September 2, 2022! Please review the eligibility criteria and apply online today: https://bit.ly/3tBaBpC
Annuity Quick Reference Guide
{June 22nd, 2022} by Sheryl J. Moore
Many have never heard of annuities. Perhaps the easiest way to grasp the concept of annuities is to first discuss life insurance products. Life insurance is a contract that pays a benefit in the event you die unexpectedly. In turn, annuities are a contract that pay a benefit in the event you live too long. […]
Why ‘Offshoring’ Annuity Risk Is Wrong
{June 22nd, 2022} by Tom Gober
Any investor or adviser who relies on the products or services of the life insurance/annuity industry today should be aware that assessing the financial integrity of a company in that industry is more difficult now than in the past. Click HERE to read the full story via RIJ Wink’s Note: Tom Gober spanks Athene in the […]
Caught some good content in NAILBA’s Perspectives magazine.
{June 22nd, 2022} by Sheryl J. Moore
I am catching-up on my hard copy reading today. I really appreciated Maureen James‘ rundown on compliance. This is a MUST read. (I didn’t know that RIAs could use customer testimonials when advertising now!) Plus, it was interesting reading Charles Arnold‘s take on why VUL should be put back on the table. Great commentary from Stevan Mark Cohen, […]
Indexed product sellers see ‘attractive’ markets after Fed rate hikes
{June 22nd, 2022} by John Hilton
When the Federal Reserve announced a historic 0.75-percentage-point rate hike last week, it sent many financial markets into a chaotic state. One market that should benefit from the rate hike, however, is the annuity marketplace, experts say. Specifically, indexed products, which thrive on offering stability when the financial landscape is most unstable. Click HERE to […]
What Juneteenth means to me as a Black financial services professional
{June 22nd, 2022} by Jay Wilkerson
Now that Juneteenth, also called Freedom Day or Black Independence Day, is a federal holiday, we must celebrate it for what it recognize: the end of slavery in the United States, and not let it be seen as just another day off work. Although slavery did officially end in the U.S. in 1865, the historical […]
Ed Slott: Secure Act 2.0 Must Fix the 10-Year Rule
{June 22nd, 2022} by Melanie Waddell
If Congress really wants to help retirees and those saving for retirement, they need to fix the 10-year rule in the IRS’ proposed regulations on how to handle required minimum distributions under the Setting Every Community Up for Retirement Enhancement (Secure) Act of 2019, according to IRA specialist Ed Slott of Ed Slott & Co. None […]
More Than Half of Teens Think Investing Is Too Confusing; Fidelity Shares Resources to Help Parents Have “The Talk”
{June 22nd, 2022} by Fidelity Investments
BOSTON–(BUSINESS WIRE)–As part of its ongoing efforts to engage the next generation, Fidelity Investments® today released results of the 2022 Teens and Money Study, revealing that while seven-in-ten teens look up to family members as financial role models, only a third (34%) say that their family regularly talks about investing. What’s more, nearly half say investing “feels out […]
Sunrise For Savers
{June 22nd, 2022} by Staff
In the first half of 2022, the bull market in bond prices that had been running hard since 1982 fell to its knees. Since January, the Bloomberg Barclay’s US Aggregate Bond Index dropped 8.8%, its biggest decline in 4 decades. The major driver: investor anxiety that the Federal Reserve’s plan to fight inflation by raising […]
25% Of Advisors Near Retirement Lack A Succession Plan, Cerulli Says
{June 22nd, 2022} by Jennifer Lea Reed
Over the next decade, more than a third of financial advisors are expected to retire and these advisors control more than $10 trillion in assets, or 40% of the entire industry. Yet one in four of these advisors has no idea what their succession plan will be, a new study found. Click HERE to read […]
Protective Life Corporation Releases 2021 Sustainability Report
{June 22nd, 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 the publication of the company’s 2021 Sustainability Report, highlighting key achievements of integrating sustainable practices throughout the organization and living out the company’s purpose as protectors. Click HERE to read the full story via BusinessWire
Pacific Life Named by Points of Light as One of America’s 50 Most Community-Minded Companies
{June 22nd, 2022} by Pacific Life Insurance Company
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has been named a national 2022 Civic 50 honoree by Points of Light, acknowledging it as one of the 50 most community-minded companies in the United States. The Civic 50 sets the standard for corporate civic engagement and creates a roadmap for companies seeking to best use their time, talent […]
AIG Named to The Civic 50 List by Points of Light
{June 22nd, 2022} by American International Group, Inc
NEW YORK–(BUSINESS WIRE)–For the first time, American International Group, Inc. (NYSE: AIG) has been recognized as one of the 50 most community-minded companies in the United States by Points of Light, a nonpartisan, global nonprofit organization that inspires, equips and mobilizes millions of people to take action that changes the world. Points of […]
MassMutual Recognized as one of the 50 Most Community-Minded Companies in the United States
{June 22nd, 2022} by Massachusetts Mutual Life Insurance Company
SPRINGFIELD, Mass.–(BUSINESS WIRE)–Today, Points of Light, the world’s largest nonprofit dedicated to accelerating people-powered change, announced The Civic 50 honorees of 2022 and a report featuring key trends, benchmarking data, and insights from the honorees. In its first year applying, Massachusetts Mutual Life Insurance Company (MassMutual) has been named a 2022 honoree of The Civic 50. For the […]
Simplicity Group Acquires Element Insurance Partners – The 38th Organization to Join the Fast-Growing Partnership
{June 22nd, 2022} by Simplicity Group
SUMMIT, N.J., June 21, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”) today announced the acquisition of Element Insurance Partners (“Element”), an independent insurance brokerage agency based in Omaha, Nebraska. With this deal, Simplicity’s 38th acquisition, Simplicity welcomes Troy Woods as a partner. Mr. Woods will continue to manage the day-to-day business operations of Element, while transitioning to the Simplicity brand. “Troy […]
EquiTrust Life Partners with Sapiens on their Next Generation Digital Agent Experience
{June 22nd, 2022} by Sapiens International Corporation
RALEIGH, N.C., June 21, 2022 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that EquiTrust Life, a leading North American life and health insurance company, has selected Sapiens’ award-winning suite of e-application, illustration and digital solutions to provide their agents next generation customer acquisition and service capabilities. […]
Truist Wealth enters Chicago with experienced team of wealth management professionals
{June 22nd, 2022} by Truist Financial Corporation
CHARLOTTE, N.C. and CHICAGO, June 13, 2022 /PRNewswire/ — Truist Wealth today announced its entry into Chicago with a 10-person team of wealth management professionals. The third-largest U.S. market, Chicago presents a significant opportunity for Truist Wealth as it continues its expansion into major metropolitan markets across the U.S. Truist Wealth, the wealth management division of Truist Financial Corporation (NYSE: TFC), delivers financial planning, investment management, […]
Midland Retirement Distributors Launches Summit Focus[SM] 3
{June 22nd, 2022} by Sammons Financial Group
WEST DES MOINES, Iowa, June 14, 2022 /PRNewswire/ — Midland Retirement Distributors, a division of Sammons Institutional Group®, Inc. – a member company of Sammons Financial Group – announces the launch of Summit FocusSM 3, a new three-year fixed index annuity. Midland Retirement Distributors specializes in fixed and fixed index annuities that provide customers and clients with choice, focus, and flexibility […]
SkyPoint Financial and Insurance Services Targets Next Level of Growth by Joining Integrity
{June 22nd, 2022} by Integrity Marketing Group
High-performing IMO with impressive track record and trajectory will tap into Integrity’s end-to-end platform to enhance agent support and protect more American families DALLAS, June 14, 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 acquired SkyPoint Financial and Insurance […]
Integrity Expands Annuity and Life Insurance Distribution by Partnering with Annuity Agents Alliance
{June 22nd, 2022} by Integrity Marketing Group, LLC
Denver-based IMO will benefit from the security, scalability and resources that Integrity partnership provides as it works to serve the complex financial needs of more Americans DALLAS, June 21, 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 […]
Foresters Financial announces 4.75 percent UL crediting rate, one of the highest rates industry wide
{June 22nd, 2022} by The Independent Order of Foresters
TORONTO, June 21, 2022 /PRNewswire/ – Foresters Financial™ (Foresters), the fraternal life insurer that’s boldly redefining the life insurance industry through innovation, purpose and wellness, today announced that the non-guaranteed crediting rate on its SMART Universal Life Insurance (“SMART UL”) [1] will increase from 4.50 percent to 4.75 percent across new and many in-force certificates. This increase positions SMART […]
Permanent Life Insurance Market to Witness Huge Growth by 2028 : AIG, Aviva, AIA: Permanent Life Insurance Market 2022
{June 22nd, 2022} by Global Permanent Life Insurance Market Status,
New Jersey, NJ — (SBWIRE) — 06/21/2022 — Global Permanent Life Insurance Market Status, Trends and COVID-19 Impact Report 2021 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, […]
Changing the Game: SEC Brings Enforcement Action for Exchanging Annuities
{June 22nd, 2022} by National Law Review, Volume XII, Number 171
On Monday, May 25, 2022, the U.S. Securities and Exchange Commission issued an Order Instituting Administrative and Cease-And-Desist Proceedings (“Order”) against RiverSource Distributors, Inc. (“RDI”) with respect to exchanges it made with existing customers between January 2017 and May 2018 of variable annuities Click HERE to read the full story via The National Law Review
Washington Insurance Commissioner Mike Kreidler rejects calls to resign
{June 22nd, 2022} by Staff Reports
A defiant Washington State Insurance Commissioner Mike Kreidler said Friday that he will not resign despite losing Gov. Jay Inslee’s support after multiple scandals. Kreidler fired a top aide who had complained that the longtime commissioner bullied him, used crass language and was “antagonizing staff.” Inslee, in a prepared statement Friday, said that recent events […]
US life premiums grow 6.6% in Q1 as pandemic demand spike retains vigor
{June 22nd, 2022} by Tyler HammelKris Elaine Figuracion
With the demand for insurance growing in the wake of the COVID-19 pandemic, U.S. life insurers saw year-over-year growth of 6.6% in direct premiums during the first quarter of 2022 compared to the same period last year. Individual and group direct premiums combined amounted to $52.26 billion in the first quarter of 2022, an increase […]
WealthVest to Partner with Aspida to Distribute their WealthLock Product Suite of Annuities
{June 22nd, 2022} by Aspida Life Insurance Company
Aspida Life Insurance Company (“Aspida”), a life insurance and annuity company, and WealthVest, a financial services marketing and wholesaling firm, announced plans today to partner on the distribution of Aspida’s principal-protected retirement solutions, now available in more than 35 states. Aspida’s new WealthLockSM Multi-Year Guaranteed Annuity and WealthLockSM Accumulator Fixed Index Annuity – developed jointly […]
Clients Rush to Buy Variable Universal Life Insurance
{June 22nd, 2022} by Allison Bell
Clients who bought U.S. individual life insurance in the first quarter were hungry for policies that were designed to do well when the stock market does well, according to new market data from LIMRA. Variable universal life policies, or policies that combine a minimum level of policy cash value growth with the potential to do […]
Fed Rate Hike Could Boost Floating-Rate Annuities
{June 22nd, 2022} by Allison Bell
U.S. life and annuity insurers are trying to be polite about the Federal Reserve Board doing what it can to push interest rates up 0.75 percentage points. On Wednesday, the Fed moved to increase the target range for the “federal funds rate” — the rate banks use to lend reserve balances to other banks overnight […]
US life/annuity net income increases by more than 50%: AM Best
{June 22nd, 2022} by Jack Willard
According to a new AM Best report, US life/annuity industry net income increased more than 50%, compared to the same period from last year. The report also showed that the US life/annuity industry’s total income rose 3.9%, from the prior year period, with a 2.7% increase in premiums and annuity considerations, and an 8.6% increase […]
SEC Sanctions Registered Broker-Dealer in First-Ever Section 11 Enforcement Proceeding
{June 22nd, 2022} by Thomas Cain, Katherine McCurry
In a recent administrative order (the “Order”), the Securities and Exchange Commission (the “SEC”) charged a registered broker-dealer (the “Broker-Dealer”) with improper switching or replacing of variable annuities in violation of Section 11 of the Investment Company Act of 1940.[i] The Order stands as the SEC’s first-ever enforcement proceeding under Section 11 of the Investment Company Act of […]
Thinking Twice about Variable Annuities
{June 22nd, 2022} by Retirement & Financial Planning Report
Variable annuities have received negative publicity in recent years, which may keep individuals from buying them. Although variable annuities have their drawbacks, as do all types of investments, they also offer advantages. Variable annuities have been called mediocre investments, with high price tags. They may be compared, unfavorably, with mutual funds. Click HERE to read […]
Nationwide increases roll-up rate, payout percentage on L.inc+ suite
{June 22nd, 2022} by Press Release
Columbus, OH—June 14, 2022— As inflation continues to rise and the economic environment continues to tighten, Nationwide has announced enhanced rates for the Nationwide Lifetime Income Rider+® (L.inc+) Suite, a set of three riders that offer guaranteed lifetime income with features designed to offer flexibility and stability during market volatility. The suite, which is designed […]
What Working with the Homeless Taught Me about Financial Planning
{June 22nd, 2022} by Stacia Williams, Investment Adviser Representative
I learned the importance of having a plan at an early age thanks to my father, a homeless camp and sack lunches. My father was a pastor, and he viewed helping the homeless as a calling. So, on Saturday afternoons, my family would prepare 125 sack lunches, with the contents of those lunches imprinted on […]
Almost mainstream, LGBTQ couples still need specialized planning
{June 22nd, 2022} by Joanne Cleaver
When same-sex marriage was legalized nationally in June 2015, one thorny element of financial planning for gay and lesbian couples was resolved. Click HERE to read the full story via InvestmentNews
401(k) plans are failing middle-class Americans
{June 22nd, 2022} by Mary Beth Franklin
A new report finds that the tax breaks designed to encourage Americans’ retirement savings disproportionately benefit high-income households and do little to assist middle-class families. Click HERE to read the full story via InvestmentNews
Midland Rolls Out Three-Year Indexed Annuity With ‘Buy-Up Cap’
{June 22nd, 2022} by Cyril Tuohy
It is Midland’s first three-year indexed annuity. Great American Life, Oceanview Life & Annuity and Oxford Life also offer three-year indexed annuities, according to Wink, which tracks the market. There are a total of eight different three-year indexed annuities available for sale today, Sheryl Moore, CEO of Wink, said in an email. Click HERE to read the full story via Life Annuity Specialist
Private Equity Faces ‘Crisis of Value’ Over Inflated Prices
{June 22nd, 2022} by Will Louch and Dani Burger
Private owners of face a “crisis of value”, after years of prices being driven higher by rock-bottom interest rates, according to two senior private equity figures. “Right now in the private markets it has been a crisis of value,” Gabriel Caillaux, head of General Atlantic’s business in EMEA, said in a Bloomberg TV interview at the […]
Genstar Buys Stake in AmeriLife From Thomas H. Lee Partners
{June 22nd, 2022} by Kamaron Leach, Bloomerg News
(Bloomberg) — Buyout firm Genstar Capital agreed to acquire a stake in AmeriLife Group, a life and health-insurance provider, from Thomas H. Lee Partners, according to a statement reviewed by Bloomberg News. The deal values the company at more than $3 billion, including debt, according to a person familiar with the matter who asked to […]
Millennials Hankering for Annuities: Survey
{June 22nd, 2022} by Alex Padalka
Millennials are more apt to buy insurance products such as annuities in the next five years in greater numbers than any period before, according to a report from a firm that sells such products. Around 80% of millennials are “pursuing” products “that offer growth and protection,” according to results of a survey conducted earlier this […]
Working With Your Clients To Solve The Annuity Puzzle
{June 22nd, 2022} by Eric Henderson
There’s no doubt about it—annuities are hot right now: in March 2022, LIMRA reported record-high annuity sales, with total sales in the U.S. increasing 4% to $63.6 billion between Q1 2021 and Q1 2022, and fixed indexed annuity (FIA) sales up 14% over Q1 2022. Options like FIAs are an increasingly attractive retirement planning solution, offering principal […]
Can This Annuity Rider Help Your Client Through Rough Markets?
{June 22nd, 2022} by Robert Bloink by William H. Byrnes
Volatile market conditions have a way of reminding clients about the power of annuity products and the value of lifetime income guarantees in the face of uncertainty. With interest rates rising, now may be the perfect time for many pre-retirees and recent retirees to consider whether an annuity is right for them. If interest rates […]
Michael Finke Teams With Life Insurer on Income Planning Program
{June 22nd, 2022} by Allison Bell
Alife insurer is working with Michael Finke — a financial services researcher and ThinkAdvisor contributor — to create a goals-based income planning program. The insurer, Protective, said the program will provide strategies financial professionals can use to analyze clients’ income needs and risks and to come up with strategies to meet clients’ retirement and estate planning goals. […]
Life and Annuity Stocks Outperforming the S&P 500: Morgan Stanley Analysts
{June 22nd, 2022} by Jamie Johnson
Typical life and annuity issuer stocks have been doing better than other stocks this year, and some are up for the year. Nigel Dally, a securities analyst at Morgan Stanley, explores the data in a commentary on how the stocks of the life and annuity companies he tracks have been doing since the start of the year and […]
Indexes must evolve with inflation, rising rates, says NAFA panel
{June 22nd, 2022} by John Hilton
Industry veteran Sheryl Moore noted the growth of indexes during a recent Wink, Inc. webinar. When Moore started Wink, an industry intelligence firm, 17 years ago there were a dozen indexes. Today, there are at least 150 different indexes, many of them proprietary indexes developed by major carriers. Click HERE to read the full story via […]
Your Clients Need 3 Types of Income: Aaron Seurkamp
{June 22nd, 2022} by Allison Bell
Aaron Seurkamp wants you to help your clients with not just one type of income planning, but with three types of income planning. Seurkamp is a senior vice president at Protective Life and president of the company’s retirement division. Click HERE to read the full story via ThinkAdvisor Wink’s Note: There are a […]
Insurance industry awaits impact as regulators grapple with data privacy
{June 22nd, 2022} by John Hilton
Editor’s Note: This is the first in an ongoing, occasional series on the impact of big data on the insurance industry. Major insurance carriers sit on a treasure trove of big data, with endless possibilities to sharpen actuarial risk projections and target financial products more narrowly to millions of consumers. But there are big risks, […]
5 Ways the New Stock Market Rollercoaster Could Affect Life Insurers
{June 22nd, 2022} by Allison Bell
Clients with life insurance and annuities may be watching the bear market rummaging around on the mutual funds’ picnic table, and wondering what it means for them. The answer is: It depends. Click HERE to read the full story via ThinkAdvisor
Achaean Teams With Insurer to Create an Inflation-Friendly Income Annuity
{June 22nd, 2022} by Allison Bell
Achaean Financial wants to offer your clients another way to create a lifetime stream of retirement income. The Lake Forest, Illinois-based financial products developer is joining with National Western Life Insurance Co, to create a single-premium immediate annuity, or SPIA, that will include a patented type of income increase feature that may help a retiree […]
Don’t Worry; Retire Happy – With Moshe Milevsky
{June 22nd, 2022} by Paul Feldman
Record inflation. Skyrocketing long-term care costs. The widening retirement income gap. All these things can lead would-be retirees to believe that the post-employment years are a time to fear. But it doesn’t have to be that way. Click HERE to read the full story via INN Wink’s Note: Now, I am reading Paul […]
Powering Through Disruption
{June 22nd, 2022} by John Hilton
As 2022 rolls into summer, the annuity market is enduring every kind of gut punch disruption imaginable — from the pandemic to technology, from regulation to inflation. And now you can add massive interest rate uncertainty to the mix. But after a pandemic sales dip, Americans resumed loving on annuities, more so than ever. Click […]
The Fed rate hike makes annuities seem attractive — but know how to pursue them
{June 22nd, 2022} by Alessandra Malito
With the Federal Reserve’s interest-rate hike, annuities may seem like an attractive retirement-income strategy. After all, higher interest rates should mean fatter guaranteed incomes. But there are a few considerations savers must make first. Click HERE to read the full story via MarketWatch Wink’s Note: So, you need to understand that MarketWatch is going to […]
REPRINT: FMO Q&A #AnnuityAwarenessMonth
{June 21st, 2022} by Sheryl J. Moore
Originally published October 2019 Over the past couple of decades, I have had the pleasure of working with hundreds of FMOs. These distributors drive innovation in product development, have the ability to command sales, and help the independent agent in their quest to best serve their clients. I am not just the lady that […]
ANNUITY AWARENESS MONTH EDITION
{June 13th, 2022} by Wink's RockStars
June is Annuity Awareness Month! We will be reprinting our Chief Storyteller, Sheryl Moore’s most requested annuity-focused articles all month long; they will be indicated with “reprint” in the title. You’ll find these timeless articles are still relevant today. Annuity Awareness Month aligns perfectly with Wink’s top priority of ensuring that the public has the needed […]
New death benefit features added to Nationwide Defined Protection RILA
{June 13th, 2022} by Nationwide
Columbus, OH – Nationwide announced today the launch of enhanced legacy features to the Nationwide Defined Protection® Annuity (DPA), a registered index-linked annuity (RILA). The two new death benefit features, which are available at no extra cost, are uniquely positioned to fit the emerging needs of financial professionals and their clients in today’s challenging economic environment. Return […]
Annuity Industry Geared Up To Promote Products In June
{June 13th, 2022} by Edward Hayes
With the markets experiencing significant volatility over recent years and Americans growing ever more concerned about their retirement prospects, the National Association for Fixed Annuities (NAFA) is among several other organizations trying to raise awareness among investors and advisors about annuities during National Annuity Awareness Month this month. Click HERE to read the full story […]
Millennials Hankering for Annuities: Survey
{June 13th, 2022} by Alex Padalka
Millennials are more apt to buy insurance products such as annuities in the next five years in greater numbers than any period before, according to a report from a firm that sells such products. Around 80% of millennials are “pursuing” products “that offer growth and protection,” according to results of a survey conducted earlier this […]
Going Away for the Summer? No Problem. Clients Escape, Too
{June 13th, 2022} by Emily Dattilo
Summer brings some temporary changes in the way many advisors work, and these can include a change of scenery, with some moving to second homes near the beach or mountains. Charlie Dunn, managing partner at Intergy Private Wealth, a Colorado Springs-based registered investment advisor, spends more than half his summer and most of his kids’ winter […]
Week in Review
{June 13th, 2022} by Richard Bedard
Indexed life insurance had a good first quarter, with sales jumping 18%, according to market research firm Wink. Click HERE to read the full Review in LifeAnnuitySpecialist
Wrong. Wrong. WRONG!
{June 13th, 2022} by Sheryl J. Moore
Consumers “generally can’t touch their money for many years without penalty, with some exceptions”?! How about that they can access [10%] of their annuity funds every year, without penalty? And as for “annuities geared more for retirees seeking pension-like income haven’t garnered as much enthusiasm from consumers,” I’d say that isn’t precisely right. While SPIAs/DIAs […]
LOL! Bait-and-switch
{June 13th, 2022} by Sheryl J. Moore
Laughing out loud at this one: “To entice buyers, insurance companies that provide fixed index annuities may guarantee a minimum income rate and offer enhanced or boosted rates for the first year of the contract or beyond.” Is that a nice way of saying that the insurance company may play bait-and-switch with your inforce renewal […]
AmeriLife, a Frequent Financial Services Firm Buyer, Raises More Cash
{June 13th, 2022} by Allison Bell
A company that has been an active buyer of life insurance, health insurance and retirement services firms appears to have a big new pot of cash. AmeriLife Group announced today that it has received a “strategic investment” from Genstar Capital — a large, San Francisco-based private equity firm. Click HERE to read the full story […]
National Western Life and Achaean Financial Holdings Establish Premier Alliance with Plans to Introduce a New Product for Income Solutions
{June 13th, 2022} by National Western Life Group, Inc.
AUSTIN, Texas, June 13, 2022 /PRNewswire/ — National Western Life Insurance Company (National Western Life), a wholly owned subsidiary of National Western Life Group, Inc. (Nasdaq: NWLI), entered a strategic alliance with Achaean Financial Holdings (Achaean), an intellectual property and product development company, to launch a new and innovative single premium immediate annuity to the financial marketplace. National […]
AmeriLife Announces Strategic Investment from Genstar Capital
{June 13th, 2022} by AmeriLife Group, LLC
Renowned private equity firm’s joint partnership with Thomas H. Lee Partners will expand AmeriLife’s suite of services and offerings, and further accelerate growth for the nation’s leading distributor of health and financial solutions CLEARWATER, Fla., June 13, 2022 /PRNewswire/ — AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing life and health insurance, annuities, and retirement […]
Simplicity Group Continues Its Growth Trajectory with the Acquisition of the Eagle Team
{June 13th, 2022} by Simplicity Group
SUMMIT, N.J., June 7, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”) today announced the acquisition of the Eagle Team, LLC (“Eagle Team”), an independent organization specializing in life and annuity sales and distribution. With this deal, Simplicity welcomes five new partners: John Baker, Steve Buller, Chad Castle, Greg Gall, and Chris Lester. Eagle Team will continue to manage its day-to-day business operations […]
Best’s Special Report: U.S. Life/Annuity Industry Posts 60% Net Income Increase in First-Quarter 2022
{June 13th, 2022} by AM Best
June 10, 2022 07:30 AM Eastern Daylight Time OLDWICK, N.J.–(BUSINESS WIRE)–The U.S. life/annuity (L/A) industry saw its net income increase by 60% in the first three months of 2022 compared with the same prior-year period, fueled by declines in tax obligations and realized capital losses. This financial review is detailed in a new Best’s Special Report, […]
Best’s Review Examines Life Insurers’ Continued Appetite for Mergers & Acquisitions
{June 13th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–In a new article from Best’s Review, industry experts discuss what is fueling the life insurance industry’s desire for more active mergers & acquisitions (M&A). The COVID-19 pandemic prompted life and annuity companies to increase their focus on examining core versus non-core functions, a practice that market watchers say will continue even as COVID-19 […]
Aquarian to Acquire Controlling Interest in Somerset Re and Contribute Additional Equity Capital to Support Further Growth
{June 13th, 2022} by Aquarian Holdings
NEW YORK–(BUSINESS WIRE)–Aquarian Holdings (“Aquarian”) and Somerset Reinsurance Ltd (“Somerset Re”) announced today the signing of a definitive agreement for Aquarian to acquire a controlling interest in Somerset Re, a leading provider of reinsurance solutions to the U.S. life insurance and annuity market. In addition, the transaction will provide Somerset Re with a substantial amount […]
Social Security report projects trust fund exhaustion in 2035
{June 13th, 2022} by Mary Beth Franklin
The Social Security and Medicare Trustees released their annual reports on the state of the trust funds Thursday with no fanfare or advanced notice. Click HERE to read the full story via InvestmentNews
Older Baby Boomers Drive Uptick in 71-and-Up Life Application Activity
{June 13th, 2022} by Allison Bell
Your clients might be more likely to be using life insurance for long-term care planning and as a defense against uncertainty about estate tax rules. MIB Group has included data raising those possibilities in its latest monthly U.S. individual life insurance application activity report. The overall individual life activity level was 1.4% lower in May […]
Minnesota and South Carolina Update Annuity Sales Standards
{June 13th, 2022} by Allison Bell
Two more states — Minnesota and South Carolina — have adopted an annuity sales standards update created by the National Association of Insurance Commissioners. Michael Wise, the acting South Carolina insurance director, and the South Carolina Department of Insurance adopted a regulation to enact the change, publishing Document Number 5065 in the South Carolina States […]
Private Equity Firms Boost Life Insurers’ Investment Returns: Blackstone Exec
{June 13th, 2022} by Allison Bell
A top Blackstone Group executive told insurance sector watchers Wednesday that private equity firms can help life and annuity issuers earn higher investment returns without adding to default risk. Marrying private equity firms’ investment origination abilities with the life and annuity issuers’ hunger for high-grade, long-lived assets makes a lot of sense. said Jonathan Gray, […]
Life and Annuity Issuers Defend Guarantees at S&P Conference
{June 13th, 2022} by Allison Bell
The CEOs of life insurance and annuity issuers told the financial world that they need to continue to offer long-term benefits guarantees because what they do — and what you do — matters. Speaking at an online insurance conference organized by S&P Global Ratings, Ellen Cooper, who has been the CEO at Lincoln Financial for […]
NAFA Brings Industry Groups Together for Annuity Awareness
{June 13th, 2022} by Allison Bell
The National Association for Fixed Annuities is helping to make this month the second annual National Annuity Awareness Month. NAFA worked with other members of an annuity support group, the Coalition for Annuity Awareness, to organize the first awareness month outreach campaign in June 2021. Chuck DiVencenzo, NAFA’s president, said NAFA started the effort because […]
South Carolina Withdraws From Interstate Insurance Compact
{June 13th, 2022} by Allison Bell
South Carolina — one of the leaders in the effort to create the Interstate Insurance Product Regulation Compact — has withdrawn from the compact because of a conflict over long-term care insurance rate increase application reviews. Members of the Interstate Insurance Product Regulation Commission, the body that oversees the compact, voted in December 2021 to […]
Nationwide Adds an Annuity With Strong Floors: Strategy Driver Review
{June 13th, 2022} by Allison Bell
Rising interest rates are putting U.S. life insurers in a strong financial position — but clients are looking at news about inflation, U.S. politics and war in Europe and shivering. The collision of insurer strength with client fear is shaping some of the ideas behind recent life, health and annuity issuer strategy announcements. Click HERE […]
Nationwide is 13th life insurer nabbed by New York
{June 13th, 2022} by Editorial Staff
Nationwide has agreed to pay $5.64 million to settle charges brought against it by the New York regulators for selling new income annuities to people who could have annuitized their existing deferred annuities, possibly at higher income rates than the new annuities paid. Click HERE to read the full story via RIJ
Fixed Indexed Annuities: What’s Changed (or Not) in Ten Years
{June 13th, 2022} by Kerry Pechter and Sheryl Moore
Every year, Wink CEO Sheryl Moore and RIJ analyze a segment of the annuity industry using Wink’s proprietary data. This year, we examine FIA sales since 2011: The era of private equity in the annuity business. Ten years ago, sales of fixed indexed annuities (FIAs) were largely confined to the life/annuity industry’s ‘Wild West’ territory. […]
A New Kind of RIJ is on the Way
{June 13th, 2022} by Kerry Pechter
Retirement Income Journal is changing its business model. After more than 13 years (and almost 650 issues) as a subscription-based weekly publication, the RIJ website will become a free-standing online library and information resource, effective July 1. That’s just three weeks from now. Over the next few months, I plan to redesign the site. My goal will be […]
Annuities are Sorely Misunderstood
{June 13th, 2022} by Kerry Pechter
Most people, and I mean the average person-on-the-street, most of Congress, as well as many investment advisers and most mass-media journalists, don’t know much about today’s annuities. Click HERE to read the full story via RIJ Wink’s Note: Another GREAT article by Kerry Pechter. I couldn’t agree with him more. However, one section has […]
Verisk and LIMRA Partner to Combat Fraud, Financial Crimes in Life Insurance, Annuity and Retirement Markets
{June 13th, 2022} by Verisk and LIMRA
JERSEY CITY, N.J., and WINDSOR, CT., June 07, 2022 (GLOBE NEWSWIRE) — Building on the unique strengths of the two organizations, LIMRA and Verisk are partnering to deliver greater capabilities to insurers and recordkeepers to help them combat fraud and financial criminal attacks on their customers. FraudShare, LIMRA’s latest industry solution developed in conjunction with […]
Annuity ownership drives retirement savings confidence, Athene finds
{June 13th, 2022} by Press Release
WEST DES MOINES, Iowa, June 06, 2022 (GLOBE NEWSWIRE) — While nearly half of American adults saving for retirement (49%) feel that they are on track to reach their retirement savings goals, annuity ownership can truly differentiate their outlook for the better, according to a recent study from Athene, a leading provider of retirement savings […]
Annuities Provide Nourishment In An Income-Starved Environment
{June 13th, 2022} by Susan Rupe
Just as food sustains the body throughout its lifetime, an annuity sustains a client’s savings throughout their retirement. Just how important an income annuity is to the success of a retirement portfolio was the subject of a recent webinar by Tamiko Toland, [the former] director of retirement markets for CANNEX, and sponsored by the National […]
Experts: 4 retirement income strategies to match any client’s style
{June 13th, 2022} by Susan Rupe
When it comes to planning for retirement income, clients face a number of risks. Each risk requires the right set of tools to manage it. And each client has their own retirement income style, which dictates the type of strategy needed to properly fund the client’s post-employment years. How to match the right retirement income […]
Too Many Americans Don’t Understand Life Insurance — or Have the Coverage They Need
{June 13th, 2022} by Maurie Backman- The Motley Fool
You wouldn’t go out and buy some fancy kitchen gadget without truly understanding what it does, right? Well, the same thought process might apply to life insurance. If you don’t understand how life insurance works, you may not be so motivated to bump it to the top of your list of things to prioritize. But […]
REPRINT: Need an Rx for retirement? The doctor is in. #AnnuityAwarenessMonth
{June 13th, 2022} by Sheryl J. Moore
It took me a long time to get my “doctorate in lifetime income.” The journey commenced once I reviewed my retirement account statement after the dot-com bubble burst. I felt absolutely nauseous. Losing money did not sit well with my stomach. If a 401(k) had caused me to retch so violently, what retirement product could […]
The Annuity Model is Broken: Reprint #AnnuityAwarenessMonth
{June 13th, 2022} by Sheryl J. Moore
Do you remember the last time that you watched CNN, CNBC, “Shark Tank,” “The Profit,” or even the market update segment of the news? While viewing this programming, have you ever seen commercials for financial services products? I know that I have. I recall commercials for mutual funds and securities. Once in a great while, I have […]
REPRINT: Unknowingly Sticking It To Your Annuity Clients? #AnnuityAwarenessMonth
{June 13th, 2022} by Sheryl J. Moore
Posted By: Editor On 8/3/2011 11:00:00 AM By Sheryl Moore AnnuityNews Are you sticking it to your clients? You might be and not even know it. The key to illuminating whether you are unknowingly putting your life insurance and annuity clients in a bad position with the products that you sell them is to identify […]
NAIC Rejects Need for Federal Help With Private Equity-Owned Life Insurers
{June 7th, 2022} by Allison Bell
A group for state insurance regulators has told Sen. Sherrod Brown that its members are well-equipped to oversee the private equity firms that now own many U.S. life insurers. State regulators are not seeking help from Washington with monitoring those private equity firm owners, the officers of the National Association of Insurance Commissioners wrote in […]
FIRST QUARTER 2022 LIFE INSURANCE SALES
{June 7th, 2022} by Sheryl J. Moore
Non-Variable UL Sales for the first quarter of 2022 were $737 million, compared with sales of $653 million for the first quarter of 2021. First quarter non-variable life sales were down nearly 14% when compared to the previous quarter and up nearly 13% as compared to the same period last year. Non-variable universal life (UL) […]
Indexed Life Sales Climb in First Quarter as Fixed Universal Slumps
{June 7th, 2022} by Cyril Tuohy
Sales of indexed universal life insurance jumped 18% in the first quarter from a year earlier to $629.9 million, according to Wink’s Sales & Market Report. Reasons for the product’s robust gains had more to do with an unusually weak first quarter in 2021 than with any sudden leap in demand, according to Sheryl Moore, CEO of […]
