Traditional universal life is withering on the vine, says Wink CEO
{June 7th, 2022} by John Hilton
As traditional universal life insurance sales continue to plummet thanks to low interest rates and carriers exiting the business, “it is heartbreaking to see a product wither on the vine, the way traditional UL has,” said Sheryl Moore, president and CEO of Wink, Inc. Fixed UL sales for the first quarter were $107.4 million, down […]
Happy Annuity Awareness Month
{June 7th, 2022} by Sheryl J. Moore
Years ago, I was able to get a proclamation signed by my then-governor Terry Branstad, to declare June as Annuity Awareness Month. In celebration of that, I wanted to post some content that I created, to help consumers, journalists, regulators, etc. to understand the basics of annuities. Click HERE for Annuities 101 -sjm
Planning For Special Needs: Overcoming The “Atlas Syndrome” With Life Insurance
{June 7th, 2022} by Lindsay Cigler
Nearly one-fifth of all Americans—more than 54 million—have a physical, sensory or intellectual disability, according to the National Organization on Disability.1 Many of them are children. While the definition and severity of the disability may vary, parents and caregivers of children with special needs are invaluable to their daily well being—providing medical, emotional, social, financial or […]
In A World Full Of Volatility, Give Your Client Certainty
{June 7th, 2022} by Luke Cosme
Volatility is the word of the day. For so many years, economic news has followed a predictable trend—the markets are up, inflation is low, prices are stable, etc. There was comfort in that predictability. Sure, there were the occasional spikes in gas prices and rough days in the market, but our 401(k) statements generally looked […]
Hit The Road To Get The Latest In Life Insurtech And Underwriting Innovations
{June 7th, 2022} by Ken Leibow
Industry conferences are back! I just returned from a two week business trip. First I flew to Tampa to attend the LIMRA Life Insurance Conference at the end of April. I was then invited by the National Brokerage Agencies (NBA) to speak at their Spring Conference in Dallas. From there, I flew to Denver to […]
Which Vegetable Is The Best? The Apple Or The Orange?
{June 7th, 2022} by Charlie Gipple
There are a few annuity and life insurance social media groups in which I am a “group expert.” These social media chat groups are closed groups that are only available to financial professionals where they can ask questions and comment on ideas and strategies that are working for them. It is also a forum for […]
How To Avoid Life Insurance Fraud
{June 7th, 2022} by Press Release
Inflation, exacerbated by the military conflict in Ukraine, and countered by Federal Reserve Bank monetary tightening, has been pushing up interest rates, particularly the last few months. Moody’s Investor Service reports inflation and rising interest rates are a benefit for life insurers, whose bond yields and investment income are rising, and whose spread-based product margins […]
Annuities: What Investors Should Know
{June 7th, 2022} by Lori Ioannou
Investors are pouring billions of dollars into annuities, as worries about stagflation and a U.S. recession whipsaw the stock and bond markets. These complex financial tools, a mix of insurance and investment, come in a variety of product types and are sold as a way to safeguard retirement assets until they can be tapped for […]
Millennials Are Hungry for Growth and Protection Potential, According to Lincoln Financial Group
{June 7th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–According to a recent study from Lincoln Financial Group (NYSE: LNC), millennials under age 40, called “younger investors,” plan to purchase insurance products within the next five years – and in greater numbers than ever before.1 And, thanks to interest rates, market volatility and student loan debt, younger investors are looking to the future, […]
Aquarian to Acquire Controlling Interest in Somerset Re and Contribute Additional Equity Capital to Support Further Growth
{June 7th, 2022} by Jamie Johnson
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 […]
Integrity Expands Life Insurance Distribution by Partnering with Abernathy Financial Services
{June 7th, 2022} by Integrity Marketing Group, LLC
Florida-based IMO with winning pedigree further bolsters Integrity’s mission to innovate life, health and wealth solutions that help Americans make the most of what life brings DALLAS, June 1, 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 […]
Finseca: Four Tips for Graduates to Ensure Long-term Financial Security
{June 7th, 2022} by Finseca
WASHINGTON, June 1, 2022 /PRNewswire/ — As the class of 2022 tosses their hats into the air and begins their careers, Finseca wants to make sure your financial security is immediately a priority. Starting your financial journey, especially if you have student loan debt, is going to require careful planning and preparation. Recent graduates should start with […]
LGBTQ+ Community Falling Behind on Financial Security
{June 7th, 2022} by Nationwide
COLUMBUS, Ohio, June 1, 2022 /PRNewswire/ — LGBTQ+ Americans are less likely to be on track to meet their financial goals, have the capacity to absorb unexpected expenses, or feel confident in their ability to save for retirement compared to the general population, according to a new Nationwide Retirement Institute survey. Almost two-thirds of LGBTQ+ Americans report living […]
Fidelity National Financial Releases 2021 Sustainability Report and Launches Sustainability Webpage
{June 7th, 2022} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., June 1, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE:FNF) (the “Company”) today announced the publication of its 2021 Sustainability Report and the launch of its sustainability webpage. Together, the report and webpage provide a comprehensive overview of the Company’s maturing sustainability program and demonstrate ongoing commitment to sustainability practices that benefit all stakeholders. Highlights […]
5 reasons women should consider annuities for retirement
{June 7th, 2022} by Lyle Boss
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? If you’re like many of us, you probably don’t have a ready answer to this question. That’s because you’ve […]
Annuity Ownership Drives Retirement Savings Confidence, Athene Finds
{June 7th, 2022} by Athene
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 […]
Recommending FIAs: Start with the client’s objective
{June 7th, 2022} by Rick Wilson
Fixed indexed annuities have become popular financial solutions for advisors to address client goals of safe investment returns and lifetime income. FIAs offer owners the ability to earn higher yields than fixed annuities if the markets perform well, while typically providing some protection against market declines. With the increased popularity of FIAs, insurers have become […]
Debate: Are Lifetime Income Illustrations Helpful?
{June 7th, 2022} by William H. Byrnes and Robert Bloink
The Department of Labor has issued guidance on implementing the final rule of the Secure Act lifetime income illustration provisions. Under the Secure Act, plan sponsors must disclose a participant’s account balance as both a single life annuity and joint and survivor annuity income stream. Plans must furnish lifetime income illustrations annually (or more frequently). […]
How Your Life Insurance Tools Are Selling
{June 7th, 2022} by Allison Bell
In the first quarter, clients flocked to individual life insurance products with performance that was tied to investment indexes, according to new life sales survey data from Wink. Clients also increased purchases of simple, classic whole life policies. Click HERE to read the full story via ThinkAdvisor
Insurers get an edge from hedge funds in 2021
{June 7th, 2022} by Editorial Staff
The life/annuity segment saw its dollar exposure to hedge funds rise in 2021 by 14.0%, to $6.1 bn, and the property/casualty segment by 0.9% to $6.7 bn, following several years of declines, according to AM Best. Click HERE to read the full story via RIJ
ANNUITY AWARENESS MONTH EDITION
{June 7th, 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 information […]
Penn Mutual Beats Georgia Appeal Over Variable Annuity Advice
{June 7th, 2022} by Jacklyn White
Penn Mutual Life Insurance Co. and a subsidiary defeated an appeal claiming they improperly steered investors into expensive and unsuitable variable annuities, when the Eleventh Circuit ruled that federal securities law blocked the proposed class from claiming Georgia law violations. Click HERE to read the full story via Bloomberg Law
Annuity Skeptics Show When Immediate Annuities Could Shine
{June 7th, 2022} by Allison Bell
Two analysts who are skeptical about broad retiree use of income annuities have shown when the products might beat ordinary portfolios of stocks, bonds and cash. The analysts, Jack De Jong and John Robinson, contend in a new working paper that bare portfolios, combined with static cash distribution strategies, will outperform income annuities in about […]
Annuities are Sorely Misunderstood
{June 6th, 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
NAIC Reassures Congress on Private Equity-Led Insurers
{June 6th, 2022} by Kerry Pechter
Answering Sen. Sherrod Brown’s March 2022 request for information about the impact of rising ownership of US life/annuity companies by private equity (PE) firms, the National Association of Insurance Commissioners (NAIC) Tuesday sent an 11-page response letter to Brown. Brown chairs the Senate Committee on Banking, Housing and Urban Affairs. Click HERE to read the full story via RIJ
Lincoln Bows Out of Shrinking Market for Guaranteed Universal Life
{June 6th, 2022} by Cyril Tuohy
“It has been heartbreaking to see how sales of universal life have spiraled continually downward,” Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, said in an email. “I remember when guaranteed universal life was the product du jour.” Click HERE to read the full story via Life Annuity Specialist
Life Insurers Aim to Close Race-Linked Wealth Gap
{June 6th, 2022} by Allison Bell
PGIM and OneAmerica are working to expand the retirement planning market — by trying to increase the odds that Black Americans will have the information they need to build savings and wealth. PGIM has hired Timothy Woods, a veteran asset manager, to spearhead its HBCU Strategic Initiatives. Woods’ team will help historically Black colleges and […]
Wink, Inc. Releases First Quarter, 2022 Life Sales Results
{June 2nd, 2022} by Wink's Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE INDEXED LIFE SALES HAVE HIGHEST-EVER FIRST QUARTER SALES Wink, Inc. Releases First Quarter, 2022 Life Sales Results Des Moines, Iowa. June 2nd, 2022– Wink, Inc. released the first quarter, 2022 life sales results in its 99th edition of Wink’s Sales & Market Report. Wink’s Sales & […]
Wink, Inc. Releases 1st Quarter, 2022 Deferred Annuity Sales Results
{May 31st, 2022} by Wink's Press Release
MULTI-YEAR GUARANTEED ANNUITY SALES GROWTH DOMINATES IN 2022 Wink, Inc. Releases 1st Quarter, 2022 Deferred Annuity Sales Results Des Moines, Iowa. May 26, 2022– Wink’s Sales & Market Report is the insurance industry’s #1 resource for annuity sales data since 1997. Sixty-two indexed annuity providers, 44 fixed annuity providers, 68 multi-year guaranteed annuity […]
FIRST QUARTER 2022 ANNUITY SALES
{May 31st, 2022} by Sheryl J. Moore
Deferred Annuity Sales Total 1Q2022 deferred annuity sales were $59,716 million, compared with sales of $58,395 million for the first quarter of 2021. First quarter deferred annuity sales were down nearly 2% when compared to the previous quarter and up more than 2% when compared to the same period last year. Deferred annuities include sales […]
#18 – Insurance is Sexy w/ Sheryl Moore of Wink Inc.
{May 31st, 2022} by Hunter Guthrie
Insurance doesn’t sound like an appealing industry to many people, but you can make the insurance and financial industry attractive! Sheryl has pioneered a space in the financial world to help insurance and annuity companies have access to all the information they need about the products available in the marketplace. She shares about her incredible […]
Happy 17th Anniversary, Wink and Sheryl J. Moore!
{May 31st, 2022} by Wink's Intel Pros
Wink’s founder, Sheryl J. Moore’s experience at insurance companies helped her quickly identify a need that was unmet in the insurance industry for competitive intelligence. In 2005, she developed the AnnuitySpecs analysis tool, then known as AnnuitySpecs.com, out of the dining room of her home in Des Moines, Iowa. After spending endless days working alone […]
MYGA sales growth dominates among deferred annuities in 1Q 2022, Wink report finds
{May 31st, 2022} by Insurance Forums Staff
Total first quarter sales for all deferred annuities were $59.7 billion; a decrease of 1.9% compared to the previous quarter and an increase of 2.2% compared to the same period last year, according to the 99th edition of Wink’s Sales & Market Report for 1st Quarter, 2022. All deferred annuities include the variable annuity, structured […]
‘Crazy’ evolution of life, annuity indexes draws scrutiny, says expert
{May 31st, 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 […]
Annuity Buyers Rush for the Raincoats
{May 31st, 2022} by Allison Bell
The battle between the raincoats and the beach towels showed up last week in new annuity issuer sales survey data from Wink. Overall deferred annuity sales increased just 2.2% between the first quarter of 2021 and the first quarter of this year, to $60 billion. Sales of the kinds of non-variable products that can protect your […]
14 Actionable Tips To Help Improve A Personal Credit Score
{May 31st, 2022} by Forbes Finance Council
3. Pay More Than The Minimum Due When it comes to credit cards, always pay your bills on time, and always pay more than the minimum. Paying down the cards that have the least available credit is also advisable. You want to ensure, as much as possible, that your credit card balance is not near […]
Nationwide adds new index options to IUL Accumulator II 2020
{May 31st, 2022} by Nationwide
Columbus, OH— To address growing concerns about market volatility, Nationwide has added new index options to one of its indexed universal life insurance products, Nationwide IUL Accumulator II 2020. The new indices offer consumers more choices for growth potential even in choppy markets. Each index takes a unique approach to limiting the impact of market […]
Annuity Payout Rates Are on the Move
{May 31st, 2022} by David Blanchett and Michael Finke
Fixed rate annuities, also called multi-year guaranteed annuities (MYGAs), are like CDs offered by insurance companies that are a surprisingly appealing fixed income investment alternative. MYGAs provide guaranteed returns similar to corporate bond yields (which are not the same as corporate bond returns). Assets are protected by state guaranty funds, and gains are taxed only […]
Life/annuity insurers lead surge into private equity investments
{May 31st, 2022} by Editorial Staff
The value of US insurance companies’ investments in private equity products grew by 25.8% in 2021, to $117.4 billion, from $93.3 billion in 2020. It was the biggest year-over-year increase in PE investments in recent years, according to a new AM Best special report. Click HERE to read the full story via RIJ
Monument Re acquires portfolio from Zurich International Life Limited
{May 31st, 2022} by Monument Re Limited
HAMILTON, Bermuda–(BUSINESS WIRE)–Monument Re announced today that it had reached an agreement with Zurich International Life Limited (“ZILL”) to acquire the closed book portfolio of Zurich International Life Limited’s Singapore long term life insurance business. Following Monument International Life Assurance Company Limited (“MILAC”) successfully receiving a Singapore insurance licence on 27th May 2022, the ZILL Singapore […]
Jackson Expands RIA Distribution Network Through New Strategic Alliance with The Pinnacle Group
{May 31st, 2022} by Jackson National Life Insurance Company
Jackson Expands RIA Distribution Network Through New Strategic Alliance with The Pinnacle Group May 25, 2022 04:05 PM Eastern Daylight Time LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc. 1 (NYSE: JXN), today announced a new distribution relationship with The Pinnacle Group (Pinnacle) to offer its advisory annuity products through Pinnacle’s outsourced insurance […]
Ellen Cooper Assumes Role of Lincoln Financial Group President and Chief Executive Officer
{May 31st, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced that Ellen G. Cooper has assumed the role of president and chief executive officer (CEO) and has become a member of Lincoln National Corporation’s board of directors. Cooper was named CEO-elect in August 2021 after 10 years as a Lincoln executive, serving most recently as executive […]
SURVEY: The future of work is already here – and it’s not fully remote
{May 31st, 2022} by Nationwide
62% Gen Z, 51% Millennials would consider leaving jobs based on employer’s return-to-office plans COLUMBUS, Ohio , May 24, 2022 /PRNewswire/ — The Great Resignation is showing signs of slowing, but there is a significant disconnect between management and employees on what it takes to retain workers in the post-COVID work environment. A new survey from Nationwide revealed that as […]
Ameritas announces newly elected officers
{May 31st, 2022} by Ameritas
LINCOLN, Neb., May 31, 2022 /PRNewswire/ — Ameritas President and Chief Executive Officer Bill Lester announces the following officer elections. Aaron Berthold has been promoted to vice president, service. Berthold was previously second vice president, customer service. He earned a Master of Arts in management with an emphasis in leadership from Doane College and a Bachelor of Science in education-business from the University […]
Hubert Humphrey and HGI Partner with Integrity to Innovate Insurance and Serve More Americans
{May 31st, 2022} by Integrity Marketing Group
Industry legend Hubert Humphrey selects Integrity for its best-in-class technology, marketing and support capabilities to provide more comprehensive solutions to HGI advisors and clients DALLAS, May 25, 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 HGI, […]
Giving Guaranteed Income A Raise
{May 31st, 2022} by Michael Yavorsky
The development and use of income riders on fixed index and variable deferred annuity contracts over the last number of years has been widespread. Many consumers are now reaching the age to “turn on the income faucet.” But are these the only income options available for clients with deferred annuities? They are not. A single […]
Minnesota becomes 25th state to pass new annuity sales rules
{May 31st, 2022} by Targeted News Service
WASHINGTON, May 27 (TNSreact)(TNSres) — The American Council of Life Insurers issued the following news release:Legislation recently signed into law by Minnesota Governor Tim Walz greatly enhances protections for consumers seeking lifetime income from annuities. Minnesota is the 25th state to implement the ‘best interest of consumer enhancements’ in the National Association of Insurance Commissioners […]
Brookfield Reinsurance Completes $5.1 Billion Acquisition of American National
{May 31st, 2022} by Brookfield Reinsurance
BROOKFIELD NEWS, May 25, 2022 (GLOBE NEWSWIRE) — Brookfield Reinsurance has completed its acquisition of American National in an all-cash transaction valued at approximately $5.1 billion. Under the terms of the transaction, Brookfield Reinsurance acquired all issued and outstanding shares of American National Group, Inc. at a price of $190 per share. Brookfield Reinsurance plans to build on American National’s strong track record of stable growth […]
Insurers Wait on Bills as 401(k) Annuity Market Is Slow to Bloom
{May 30th, 2022} by Aaron Smith
So far, the promise of the workplace annuity market has been slow to blossom. The opportunity could be “trillions of dollars” in new business, according to Wink CEO Sheryl Moore, but despite numerous initiatives that have been announced, it’s not clear how many sales have been realized. “It is too early to tell if sales are making headway,” […]
National Association of Insurance & Financial Advisors Celebrates State Advocacy Milestone
{May 30th, 2022} by Targeted News Service
FALLS CHURCH, Virginia, May 28 — The National Association of Insurance and Financial Advisors issued the following news release: NAIFA strongly encourages states to adopt the NAIC’s model regulation on annuity transactions, and our state chapters have made promoting adoption of the model an advocacy priority over the past two years. Our efforts, the work of members like you at the […]
Children Life Insurance Market Is Booming So Rapidly : Allianz , AXA, China Life Insurance: Children Life Insurance Market Size, Share, Future Growth and Opportunity Assessment 2021-2027
{May 30th, 2022} by ReleaseWire
New Jersey, USA — (SBWIRE) — 05/26/2022 — Advance Market Analytics published a new research publication on “Children Life Insurance Market Insights, to 2027” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of […]
Build Retirement Confidence with Annuity Awareness
{May 30th, 2022} by American Equity
Time and money are two of your clients’ top assets. Don’t let lack of fixed index annuity awareness cost them valuable time and money in retirement. The cost of waiting Two individual pre-retirees, have the same goal: add $10,000 in annual income when they retire at 65. Both individuals are interested in the IncomeShield 10 […]
Advisers better look to Washington for changes in annuity regulations
{May 30th, 2022} by InvestmentNews
Financial advisors better keep an eye on Washington to track changes in annuities regulations or it may come back to bite them, says Jason Muench, certified financial planner at UnitedOne. View the video at InvestmentNews
SEC Hits Ameriprise Unit for Improper Variable Annuity Switching
{May 30th, 2022} by Melanie Waddell
The Securities and Exchange Commission on Wednesday announced settled charges against RiverSource Distributors Inc., a wholly owned subsidiary of Ameriprise Financial, for improper switching or replacing of variable annuities — which resulted in higher commissions for RiverSource employees. The action, which involved a censure and a $5 million civil penalty, is the SEC’s first-ever enforcement proceeding […]
Finseca Brings 626 Advisors to Schmooze Washington
{May 30th, 2022} by Allison Bell
Finseca celebrated its new, bigger size by saying hello to the District of Columbia. The Washington-based advisor group gathered 626 advisor members in the nation’s capital this week for an advocacy summit that featured people such as Dean Cameron, the Idaho insurance director and president of the National Association of Insurance Commissioners, as the speakers. […]
Principal Financial Group® Closes Reinsurance Transaction
{May 30th, 2022} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced today that it has successfully closed its transaction to reinsure the company’s in-force U.S. retail fixed annuity and universal life insurance with secondary guarantee (“ULSG”) blocks of business with an affiliate of Sixth Street and its insurance platform, Talcott Resolution (“Talcott”). Under the agreement, the company has reinsured approximately […]
RetireOne, Midland National Announce Constance Enhancements to Bring Portfolio Income Insurance Solution to All Fee-Based Financial Advisors
{May 30th, 2022} by RetireOne
SAN FRANCISCO–(BUSINESS WIRE)–RetireOne®, the leading platform for fee-based insurance solutions, and Midland National Life Insurance Company (Midland National), today roll out a number of enhancements to Constance – a unique, zero-commission portfolio income insurance solution designed expressly for RIAs. he firms announced the addition of 255 mutual funds, exchange-traded funds (ETFs), and model portfolios to the lineup of investment options covered […]
MassMutual Becomes Equity Investor in Kudu Investment Management
{May 30th, 2022} by Kudu Investment Management, LLC
NEW YORK, May 26, 2022 /PRNewswire/ — Kudu Investment Management, LLC (Kudu), an independent provider of permanent capital solutions to asset and wealth managers worldwide, today announced that Massachusetts Mutual Life Insurance Company (MassMutual), a leading U.S. mutual life insurance company, has become an equity investor – joining White Mountains Insurance Group, Ltd. (NYSE: WTM). Since 2018, New York-based Kudu […]
DALBAR’s Famed Investor Behavior Research Finds Investors in Variable Annuity Subaccounts Trade Less, Earn More
{May 30th, 2022} by DALBAR, Inc
A Recent Study Shows that Subaccount Investors Consistently Outperform the Average Investor MARLBOROUGH, Mass., May 25, 2022 /PRNewswire/ — A new study conducted by DALBAR found that equity investors in variable annuity subaccounts trade less than the average equity investor and have earned consistently more as a result. This important research breaks through common objections to variable annuities with […]
Vantis Life announces distribution agreement with Everdays
{May 30th, 2022} by Vantis Life
WINDSOR, Conn., May 25, 2022 /PRNewswire/ — Vantis Life Insurance Company, a Penn Mutual company, announces a strategic marketing agreement with Everdays, an insurtech firm providing retirement, health and end-of-life planning solutions focused on seniors that are entering or planning for retirement. As part of the agreement, Everdays will market Vantis Life insurance products through its […]
Wink’s Demo TODAY! 11AM CDT, LIVE! with Wink’s CEO’s “Moore on the Market”
{May 24th, 2022} by Wink's RockStars
TODAY at 11:00 AM, Central time, join Wink’s CEO, Sheryl J. Moore, the foremost authority in the annuity and life insurance markets for a DYNAMIC industry update. Registration is limited, don’t miss out! Click HERE TO REGISTER NOW!
How much has Prof. Joe Belth enriched the life insurance industry?
{May 24th, 2022} by Sheryl J. Moore
My friend, mentor, and respected colleague Joseph Belth is officially retiring. I’ve learned so much from him over the past 23 years. Have you? Did you read his “Insurance Forum” publication perhaps? I’ll never forget that peach-colored newsletter! If you’ve learned from Professor Joe Belth, share your experience; click HERE to join the conversation. Let’s […]
What do you think are the latest innovations in participating whole life insurance products?
{May 24th, 2022} by Sheryl Moore
I see so much innovation in annuity products, by comparison. This is frustrating! Please JOIN THE CONVERSATION HERE.
‘The Baby Boomer Dilemma’ Documentary Exposes America’s Failed Retirement Experiment
{May 24th, 2022} by Sheryl J. Moore
I am here to say that the insurance industry “offer[s] lower-cost, more transparent and straight-forward” annuities TODAY. Edward Siedle did a great job on this piece, Click HERE to read; I was totally feeling him until we got to the end. I think I just need to bring him up to speed on the strides […]
Continued SEC/FINRA “Complex” Product Concerns: Will Good Regulatory Harvest Arrive?
{May 24th, 2022} by Carlton Fields, Ann Began Furman
Like farmers uncertain about what crop to plant, the SEC and FINRA continue to cast about for ways to enhance their regulatory framework for “complex” products, particularly with regard to retail investor understanding. The regulators have been hampered by, among other things, the lack of any clear and consistent definition of what products should be […]
NAILBA/Finseca Merger Approved
{May 24th, 2022} by Finseca
WASHINGTON, D.C. (May 20, 2022) - Per the overwhelming support of the NAILBA members, Finseca and NAILBA have officially voted to merge and create: NAILBA, a Finseca Community. On January 4, 2022, Finseca and NAILBA announced an intent to explore a merger after significant due diligence conducted by a joint task force that included NAILBA […]
No longer ‘annuicide’: How insurance products are reaching the fee-based channel
{May 24th, 2022} by Jeff Benjamin
The modern-day wealth management industry is quickly warming to the idea that it’s no longer dealing with your father’s annuity and insurance business. Click HERE to read the full story via InvestmentNews
‘Annuities’ Hits Brick Wall; ‘Guaranteed’ Works: Michael Finke
{May 24th, 2022} by Allison Bell
Life insurers, researchers and others converged on Washington last week to sell themselves, and the world, on the idea that it’s nice for retirees to have big companies working hard to offer them a stream of income that will last throughout retirement. The Alliance for Lifetime Income held the 2022 Future of Protected Income Summit: […]
RILA Annuities Are High In Popularity – And Complexity
{May 24th, 2022} by Doug Bailey
The fastest-growing investment vehicle for retirees can also be the most complicated and attempts to try and simplify the arcane features of the relatively new product can be daunting. Still, that hasn’t slowed the popularity of the annuities, called RILAs, or registered index-linked annuities – formerly called buffered annuities or structured annuities. RILA sales broke […]
Retirement Income Shouldn’t Depend on the Market; It Should Depend on Math
{May 24th, 2022} by https://www.kiplinger.com/retirement/retirement-planning/604705/retirement-income-shouldnt-depend-on-the-market-it-should
Market ups and downs can keep retirees on edge, worried about potentially big losses from which they may never be able to recover. And those worries aren’t necessarily misguided. From 1928 through March 2022, there have been 26 “bear markets.” A bear market is a market decline greater than 20% that lasts at least two […]
New York Life Wealth Watch Survey Finds Inflation Is Impacting Short-Term Spending and Saving, but Retirement Savers Remain Confident in their Plans
{May 24th, 2022} by New York Life Wealth Watch survey
NEW YORK–(BUSINESS WIRE)–The latest New York Life Wealth Watch survey revealed that while inflation is impacting short-term financial decisions, Americans report that their retirement strategies remain largely intact. In fact, 65% of adults report that as a result of inflation, they are cutting back on short-term spending to stay on track with their long-term financial […]
AM Best Affirms Credit Ratings of Protective Life Corporation and Its Key Life Subsidiaries
{May 24th, 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 the primary life insurance subsidiaries of Protective Live Corporation (headquartered in Birmingham, AL), collectively known as Protective Life. Additionally, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and […]
AM Best Affirms Credit Ratings of NLV Financial Corporation and Its Insurance Subsidiaries
{May 24th, 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 National Life Insurance Company (NLIC) (Montpelier, VT) and its wholly owned subsidiary, Life Insurance Company of the Southwest (Addison, TX). Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings […]
Lincoln Financial Group Promotes Stephen Turer to Head of Annuity Business
{May 24th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today that Stephen Turer has been named senior vice president and head of the Annuity business, effective July 1, 2022. Turer succeeds Brian Kroll, who will be retiring after a successful career spanning 40 years in the industry, the last 18 of those with Lincoln Financial. Turer […]
Best’s Review Examines Life Insurers’ M&A Push and Bond Market Volatility
{May 24th, 2022} by Best's Review
OLDWICK, N.J.–(BUSINESS WIRE)–Best’s Review has released the following preview content of next month’s issue: In “US Interest Rates, Excess Capital Drive Life Insurers’ M&A Push,” industry experts explain why they expect more active M&A in 2022, especially from life and annuity insurers, and how more rate hikes could affect deals. “US Fed Rate Hikes, Ukraine Invasion […]
Fortitude Re’s expansion continues
{May 24th, 2022} by Editorial Staff
Fortitude Re bought Rx Life Insurance Company from Heritage Life. Now named ‘Fortitude US Reinsurance Company,’ and domiciled in Arizona, it will enable Bermuda-based Fortitude Re to offer clients a US domiciled reinsurance option, the company said. Click HERE to read the full story via RIJ
Private Equity and Accounting Firms
{May 24th, 2022} by Kerry Pechter
“I’d like to call this the ‘private equity invasion.’ With rock and roll, it was the British invasion. You know, the Beatles and the Rolling Stones. This is going to be huge.” Uh-oh. Click HERE to read the full story via RIJ
Liberty Bankers Insurance Group Recognizes One Year of Summit Prime Fixed Indexed Annuities
{May 24th, 2022} by Liberty Bankers Insurance Group
DALLAS, May 18, 2022 /PRNewswire/ — Liberty Bankers Insurance Group (LBIG), a nationally recognized provider of life, health, and financial products, today announced that it has maintained the renewal rate for its Summit Prime Fixed Indexed Annuities. “Impeccable service and products are the backbone of our reputation,” said Steve Wilson, executive vice president, annuity division at Liberty Bankers Insurance Group. […]
Less than half of women know how to make their money last in retirement
{May 24th, 2022} by Alliance for Lifetime Income
WASHINGTON, May 18, 2022 /PRNewswire/ — The Alliance for Lifetime Income and HerMoney’s latest research finds that while nearly three in four (73%) women know what steps to take to build their retirement nest egg, less than half (47%) know how to make their money last throughout retirement. This uncertainty has created a major point of concern. […]
OneAmerica Commits $1 Million Toward Financial Literacy
{May 24th, 2022} by OneAmerica
INDIANAPOLIS, May 19, 2022 /PRNewswire/ — OneAmerica® today announced a $1 million commitment to activate a uniquely tailored financial literacy program in Central Indiana. In collaboration with The American College of Financial Services, the program will offer practical financial understanding to build a personal relationship with finance and drive economic empowerment, with a focus on narrowing the racial wealth gap. The innovative […]
Advisor Group Accelerates Growth and Expands Multi-Channel Leadership with Acquisition of Infinex Financial Holdings, with over $30 Billion in Assets
{May 24th, 2022} by Advisor Group
PHOENIX, May 19, 2022 /PRNewswire/ — Advisor Group, one of the nation’s largest networks of independent wealth management firms, today announced a definitive agreement to acquire Infinex Financial Holdings, Inc. (“Infinex”), the holding company of a privately-held broker-dealer. Infinex, which has a primary focus on supporting banks, credit unions and financial institution-based financial advisors and their clients, has […]
Ritter Insurance Marketing and Integrity Announce Transformational Partnership to Help More Americans
{May 24th, 2022} by Integrity Marketing Group
DALLAS, May 18, 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 Ritter Insurance Marketing (“Ritter”), a leading independent marketing organization (“IMO”) specializing in Medicare Supplement and Medicare Advantage plans, based in Harrisburg, Pennsylvania. As […]
60% of US Adults Say the Pandemic Has Been Highly Disruptive to Their Finances
{May 24th, 2022} by Northwestern Mutual
MILWAUKEE, May 18, 2022 /PRNewswire/ — More than two years into the pandemic, Americans have adapted to a new normal in their financial lives – they’ve improved their financial habits and expect them to stick; they’ve accounted for emergencies and risks; and they have far more confidence in themselves than the economy. That said, financial discipline isn’t […]
Survey: Retirement Savers Concerned About Financial Harm Under Fiduciary-Only Government Regulation
{May 24th, 2022} by American Council of Life Insurers
WASHINGTON, May 23, 2022 /PRNewswire/ — A majority of moderate-income savers who are in or near retirement are concerned that a fiduciary-only regulation would keep them from the professional financial guidance they want and need, especially during difficult economic times. This finding is from a new survey by Greenwald Research for the American Council of Life Insurers […]
Insurance execs and others weigh in on the industry’s critical talent gap
{May 24th, 2022} by Doug Bailey
The insurance industry is facing a critical “talent gap,” brought on by a crippling combination of “Great Resignation,” the “Great Retirement,” and waning interest among college graduates and young people in the career hunt. It is estimated that nearly a half-million insurance workers will leave their jobs in the next few years, creating openings that […]
Industry Looks To Extend COVID-Related Life Insurance Sales Boom
{May 24th, 2022} by Doug Bailey
Sales of life insurance exploded during – and because of – the pandemic, and the industry is puzzling on whether the world has changed so that the growth could be maintained post-COVID. Respondents to a poll taken at a webinar this week sponsored by the Society of Insurance Research didn’t think so, estimating that growth […]
Pace of Rate Hikes May Determine Benefit to Annuity Sellers
{May 24th, 2022} by John Hilton
The Federal Reserve is in an aggressive mode when it comes to interest rates and combating inflation. That could mean good news for annuity sellers. Or not. Click HERE to read the full story via INN
Mass Affluent Investors Demanding More Complex Financial Products
{May 24th, 2022} by Mark Shields
Mass affluent investors traditionally opted for general or mutual funds for their investments, but there are clear signs that this trend is in on the wane. In fact, the demand for complex financial products is increasing significantly, especially among mass affluent investors. This historically overlooked group no longer relies exclusively on exchange-traded funds and mutual […]
How Insurers Can Use Data To Deliver Added Value, Improve Customer Service
{May 24th, 2022} by Jamie Peers
While digitl transformation has generated vast amounts of insurance-related data, the ability to deliver added customer value and improved customer service requires investment in the right technology to access, analyze and streamline this information. The first step is data integration and automation, and companies are investing billions in this area. The market for global data […]
How the Life and Annuity Product Gameboard Looks Now
{May 24th, 2022} by Allison Bell
For U.S. life insurers, the dice have rolled and produced the following conditions: Rising interest rates. Higher levels of inflation, which might draw a yawn from the winter children of the 1970s but spook the summer children of the 2010s. Geopolitical uncertainty. COVID-19 (and monkeypox). Consumers who are doing well but feeling … gloomy. What […]
Insurance Advisors Market Advisors to Congress
{May 24th, 2022} by Allison Bell
The National Association of Insurance and Financial Advisors is sending more than 500 NAIFA members this week to Capitol Hill to sell lawmakers on the idea that earning a living by protecting Americans against mortality, morbidity and longevity risk is an honorable thing to do. NAIFA members began flying to Washington on Sunday for the […]
New York State Dings Nationwide Over Immediate Annuity Sales
{May 24th, 2022} by Allison Bell
The New York State Department of Financial Services is continuing to push insurers to treat consumers who roll assets from accumulation annuities into income annuities the same way they treat consumers making other types of annuity exchanges. The department announced Friday that it has imposed $2.245 million in penalties on Nationwide Life Insurance Co. in […]
LibertyMark Freedom Fixed Indexed Annuities Launch
{May 17th, 2022} by Legacy Marketing Group
PETALUMA, Calif.–(BUSINESS WIRE)–Legacy Marketing Group® today announced the launch of LibertyMark Freedom, the next generation of its top-selling FIA, issued by “A” rated* Americo Financial Life and Annuity Insurance Company. As a pure accumulation powerhouse, LibertyMark Freedom offers growth potential with options when it comes to fees. It comes equipped with no-fee index options to […]
Nationwide Adds BNP Paribas Global H-Factor Index To FIA
{May 17th, 2022} by Nationwide
Columbus, OH—May 16, 2022—Nationwide announced today the addition of the BNP Paribas (BNPP) Global H-Factor® Index to the Nationwide Peak® 10 fixed indexed annuity (FIA). The index offers a probability-based approach to investing by identifying and removing potentially overpriced stocks likely to lose value due to human behavior, resulting in a portfolio made up of equities more likely […]
Lincoln Financial expands Indexed Universal Life suite with survivorship product for wealth transfer and estate planning
{May 17th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) today launched Lincoln WealthPreserve® 2 Survivorship Indexed Universal Life (SIUL) for couples or business partners looking to insure two individuals in a single policy. Lincoln WealthPreserve® 2 SIUL offers an extended guaranteed death benefit, growth potential with downside protection and optional features for life’s changing needs, while enabling clients to implement estate planning strategies to […]
ACLI RAISES CONCERNS OVER S&P INSURER CAPITAL ADEQUACY METHODOLOGY PROPOSAL IN CONGRESSIONAL TESTIMONY
{May 17th, 2022} by ACLI
WASHINGTON, D.C.– The American Council of Life Insurers (ACLI) raised concerns in congressional testimony today over Standard & Poor’s (S&P) ratings agency’s recent proposal to its insurer capital adequacy methodology. S&P temporarily withdrew its proposal on May 9. However, S&P reserved the right to return to it in its rating process. ACLI Senior Vice […]
Transamerica Structured Index Advantage Annuity Offers Investors More Certainty with Upside Growth and Downside Protection
{May 17th, 2022} by Transamerica
BALTIMORE, May 16, 2022 /PRNewswire/ — Transamerica announces the launch of the Transamerica Structured Index AdvantageSM Annuity, a registered index-linked annuity that is designed to create more certainty for investors in uncertain markets. For investors who are seeking upside potential returns and are less willing to stay invested during down markets, the Transamerica Structured Index Advantage Annuity offers the opportunity for market […]
The Second-Fastest-Growing U.S. Life Insurer Has Big Plans
{May 17th, 2022} by Cyril Tuohy
Kuvare’s Des Moines office make sense for the company because of the talent that they can pull from in the city’s experienced insurance staff pool, said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. “It also provides a more convenient office than in their Cedar Rapids headquarters, so that executives can fly into Des […]
Recommending FIAs: Start With The Client’s Objective
{May 17th, 2022} by Rick Wilson
Fixed indexed annuities have become popular financial solutions for advisors to address client goals of safe investment returns and lifetime income. FIAs offer owners the ability to earn higher yields than fixed annuities if the markets perform well, while typically providing some protection against market declines. With the increased popularity of FIAs, insurers have become […]
FIAs compared to Bonds
{May 17th, 2022} by Barclays
May 2022 Innovation in the FIA space has markedly improved the offering and this provides a very important distinction to bonds. We find that examples of this innovation in FIAs have outperformed bonds on a consistent basis over the last 25 years. Both FIAs and bonds are principal protected, however bonds are exposed to yields […]
New Envestnet Research Reveals Financial Nihilism Among Some Millennials
{May 17th, 2022} by Jeff Berman
There is good news and bad news for advisors when it comes to getting their clients on the road to living an “Intelligent Financial Life,” according to Envestnet and Jason Dorsey, president and co-founder of The Center for Generational Kinetics in Austin, Texas. The good news is there’s a significant opportunity out there to reach […]
Cheat Sheet: Basic Annuity Types and Facts Every Advisor Should Know
{May 17th, 2022} by Ginger Szala
Annuities are becoming more accessible through fee-only advisors and retirement plans. For advisors who have clients interested in these products, here’s a quick rundown on what types of annuities are available and how, generally, each type works. Keep in mind: There are always new wrinkles to think about. If you are new to annuities, and […]
Life Application Activity Cools Again
{May 17th, 2022} by Allison Bell
U.S. individual life insurance application activity continued to cool in April, according to the new MIB life application activity report. Application activity was 7.7% lower in March than in March 2021. Click HERE to read the full story via ThinkAdvisor
Life Insurers Added Asset-Backed Securities in 2021
{May 17th, 2022} by Allison Bell
U.S. life insurers continued to make corporate bonds their main investment course in 2021, but they increased asset-backed securities allocations to add some yield spice. The Capital Markets Bureau, an arm of the National Association of Insurance Commissioners, has published a life insurer portfolio snapshot in its latest annual report on U.S. insurers’ cash and […]
Northwestern Mutual to Invest $5M in Local Financial Institutions
{May 17th, 2022} by Allison Bell
Northwestern Mutual is trying to add some real diversification to its investment portfolio — by investing in its own neighbors. The Milwaukee-based mutual life insurer is allocating $5 million of its assets to two Milwaukee-based community development financial institutions: Legacy Redevelopment Corp. and Northwest Side Community Development Corp. Click HERE to read the full story […]
Life Insurers Look Fine: Swiss Re Economists
{May 17th, 2022} by Allison Bell
Economists at a Swiss Re research arm have tried to think about the winds that might blow the world’s life insurers around over the next two years. The economists have come out with a cautious prediction that life insurers could do pretty well, in a new report on the possible effects of “stagflation,” or a […]
Treasury Secretary Worries About Leverage at Life Insurers
{May 17th, 2022} by Allison Bell
Federal regulators could try to regain their authority over nonbank financial institutions that look as if they could hurt the U.S. financial system. Treasury Secretary Janet Yellen talked about regulators’ thoughts on designating some nonbanks as “systemically important financial institutions,” or SIFIs, on Tuesday at a Senate Banking Committee hearing on the Financial Stability Oversight […]
S&P Rating Method Update Could Ding Annuities: Hearing Witness
{May 17th, 2022} by Allison Bell
The American Council of Life Insurers would prefer to see S&P Global Ratings take a different approach if and when it updates its rules for rating insurers’ capital levels. Mariana Gomez-Vock, a senior vice president at the ACLI, gave that assessment Wednesday at a hearing on the bond rating industrythat was organized by the House […]
‘Annuities’ Hits Brick Wall; ‘Guaranteed’ Works: Michael Finke
{May 17th, 2022} by Allison Bell
Life insurers, researchers and others converged on Washington last week to sell themselves, and the world, on the idea that it’s nice for retirees to have big companies working hard to offer them a stream of income that will last throughout retirement. The Alliance for Lifetime Income held the 2022 Future of Protected Income Summit: […]
Fed’s stability report assesses life insurers
{May 17th, 2022} by Editorial Staff
The Federal Reserve’s Board of Governors released its annual Financial Stability Report this month. Portions of the 72-page document were devoted to statistics on the financial health of the US life insurance industry, which includes the annuity industry. The report noted an overall increase in the liquidity of the industry’s liabilities and a trend toward holding less […]
Symetra Once Again Teams Up with Sue Bird on New TV Advertising
{May 17th, 2022} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra, a national provider of employee benefits, annuities and life insurance, has launched new brand advertising featuring five-time Olympic gold medalist and four-time WNBA Champion Sue Bird. This marks the Pacific Northwest-based life insurer’s fourth collaboration with the Seattle Storm point guard. The 30-second commercial debuted on FOX 13+ during the Seattle Storm’s […]
Latest MoneyGuard Solution From Lincoln Financial Group Offers More Control, Flexibility and Options
{May 17th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today launched the next generation of Lincoln MoneyGuard® by introducing MoneyGuard Fixed AdvantageSM, a universal life insurance policy with a long-term care rider. The MoneyGuard solutions suite helps address the concerns of 87% of Americans surveyed who say that having a long-term care solution would help them feel more confident about their financial […]
Jackson Announces First Quarter 2022 Results
{May 17th, 2022} by Jackson Financial Inc.
Jackson Announces First Quarter 2022 Results May 10, 2022 04:15 PM Eastern Daylight Time LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced financial results for the three months ended March 31, 2022. Key Highlights Net income of $2,025 million, or $22.51 per diluted share, including the impact of non-economic hedging results under GAAP […]
Fabric, RetireOne Team Up to Bring Advisors Risk Management Tool for Annuities
{May 17th, 2022} by RetireOne
SAN FRANCISCO–(BUSINESS WIRE)–RetireOne, the leading independent platform for fee-based insurance solutions, today announced a partnership with Fabric to integrate its risk modeling capability into RetireOne’s user platform, beginning with its zero-commission contingent deferred annuity, ConstanceSM. Developed in partnership with Midland National® Life Insurance Company and offered exclusively on the RetireOne platform, Constance is a form of portfolio income insurance […]
Pacific Life Wins 2022 Gold Stevie® Award for Sales & Customer Service
{May 17th, 2022} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life’s Retirement Solutions Division (RSD)’s New Business Status Tracker tool was honored with a gold Stevie® Award at the 16th annual Stevie Awards for Sales & Customer Service in the new IVR or Web Service Solution category. This distinguished achievement showcases the advancements of Pacific Life’s digital transformation efforts, particularly in new business and adviser […]
May 12, 2022 Coming Out of Winter Hibernation
{May 17th, 2022} by Ann Young Black, Jordan Luczaj
The Life Insurance and Annuities (A) Committee sprang into action during the NAIC Spring 2022 National Meeting in April. The A Committee discussed recent activities and 2022 plans for its Life Actuarial Task Force (LATF), its Annuity Suitability Working Group, and its Life Insurance Online Guide Working Group. Click HERE to read the full story […]
Equitable Sees ‘Rational’ Registered Index-Linked Annuity Pricing
{May 17th, 2022} by Allison Bell
Equitable Holdings’ life insurance business helped create the modern market for registered index-linked annuities, or RILAs. Many other life insurers are now entering that market, attracted by the ability to tie returns to easy-to-manage options contracts, while having the ability to adjust just how much or how little market risk they protect the contract holder […]
Bonds May Be Down, But Some Annuity Payouts Are Up
{May 17th, 2022} by David Blanchett
It’s been a pretty wild ride for the markets in 2022. Equities and bonds are down so far for the year, and inflation is up (way up on a relative historical basis) — creating a challenging environment for investors. I’ve spoken with quite a few investors and financial advisors over the last few years and […]
The latest in financial #AdviserTech — May 2022
{May 17th, 2022} by Michael Kitces
This month’s #AdviserTech roundup looks at Orion’s acquisition of Redtail CRM, Advyzon’s launch of its Quantum Rebalancer, RightCapital’s new one-page Financial Plan Snapshot and Vanguard’s partnering with American Express. Click HERE to read the full story via InvestmentNews
NEW RULE STRENGTHENS PROTECTIONS FOR SOUTH CAROLINA ANNUITY CONSUMERS
{May 17th, 2022} by ACLI
WASHINGTON – American Council of Life Insurers (ACLI) President and CEO Susan Neely and National Association of Insurance and Financial Advisors (NAIFA) South Carolina President Johnny Craven issued the following joint statement on the best interest annuity rule adopted recently by Acting Director Michael Wise and the South Carolina Department of Insurance: “A new rule […]
Father of 4% Rule Urges Caution, Cash as Market Risk Rises
{May 17th, 2022} by Jane Wollman Rusoff
Bill Bengen, the inventor of the so-called 4% retirement portfolio withdrawal rule, has a crucial message for financial advisors: “Manage the risk portion of a retirement nest egg actively. Unless you’re willing to vary — reduce — your clients’ allocations to reduce risk, it could be damaging,” the former 25-year advisor argues in an interview […]
Rising Interest Rates Scramble Annuity Sales Forecasts
{May 17th, 2022} by John Hilton
Annuity exchanges could become big business over the coming quarters as short-term fixed-rate deferred contracts expire. It is part of a business climate supercharged by the rise in interest rates, said Todd Giesing, assistant vice president, Secure Retirement Institute Annuity Research. “The pace of change is just unbelievable and trying to keep up with it […]
National Western Life Group, Inc. Announces 2022 First Quarter Earnings
{May 16th, 2022} by National Western Life Group, Inc.
AUSTIN, Texas, May 10, 2022 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today first quarter 2022 consolidated net earnings of $36.2 million, or $10.23 per diluted Class A common share, compared with consolidated net earnings of $62.1 million, or $17.57 per diluted Class A common share, for the […]
Busting Stereotypes: Millennials Take Control of their Finances
{May 16th, 2022} by Nationwide
Survey finds that Millennials are concerned about recession, but feel confident in steps they are taking to prepare for the unexpected COLUMBUS, Ohio, May 10, 2022 /PRNewswire/ — The Millennial generation (aged 26-41) has been pegged with stereotypes of careless spending and saving habits since the early 2010s. However, with the oldest members of this generation now […]
Midwest Holding Inc. Reports First Quarter 2022 Results
{May 16th, 2022} by Midwest Holding Inc
LINCOLN, Neb., May 16, 2022 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT), today announced financial results for the first quarter of 2022. First Quarter 2022 Highlights: GAAP net income was $187,000 compared to a $(1.6) million GAAP net loss incurred in the first quarter of 2021. GAAP earnings were 5 cents per share (diluted) versus the (43) cent per-share loss in Q1 2021. GAAP total […]
Women in Insurance & Financial Services (WIFS) Announces Schedule of Events for 2022
{May 16th, 2022} by WIS
Women in Insurance & Financial Services (WIFS), the only national organization exclusively devoted to the success of women in the insurance and financial services fields, has announced its schedule of events for 2022, including its prestigious WIFS National Conference. “WIFS is devoted to advancing career opportunities, providing professional development, and representing women’s interests in a […]
Congratulations to the NAILBA team!
{May 16th, 2022} by NAILBA
NAILBA is excited to announce that it has been recognized by ASAE: The Center for Association Leadership with a 2022 Gold Circle Award for excellence in Integrated Media Solutions! “The work that Pam Sheehan and our team have done to elevate NAILBA’s content is truly remarkable and has cemented our role as the voice of independent distribution,” said NAILBA […]
Mental Health Awareness Month: Making Sure Our Associates Know They Are Never Alone
{May 16th, 2022} by Walmart
May is Mental Health Awareness Month in the U.S. For many of us, the last 24 months of living in the shadow of a global pandemic has brought prolonged isolation from our friends and colleagues and introduced new levels of anxiety and fear many of us have never experienced before. And considering the growing level […]
2023 Social Security COLA could be biggest in 40 years
{May 16th, 2022} by Mary Beth Franklin
It sounds like déjà vu: The next Social Security cost-of-living adjustment could be the biggest percentage increase in 40 years. It was true for 2022, and it’s likely to be true again next year. Click HERE to read the full story via InvestmentNews Wink’s Note: An 8.6% Cost of Living Adjustment on next year’s Social […]
Geek out on this intel!
{May 16th, 2022} by Sheryl J. Moore
I seriously geek out on this intel. Click here for the top ten Indy B/Ds for annuity sales:
As if being “independent” makes anyone truly INDEPENDENT.
{May 16th, 2022} by Sheryl Moore
As if being “independent” makes anyone truly INDEPENDENT. Even marketing organizations have to commit a certain level of production to their top product manufacturers to get top contracts. So, are they truly INDEPENDENT? And would they even suggest insurance products, were they not affiliated with insurance company B/Ds? I am interested in what you think. […]
Best’s Special Report: U.S. Life/Annuity Insurance Industry Sees Limited COVID-19 Impact on Operating Performance Metrics
{May 16th, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best benchmarking analysis of rated U.S. life/annuity (L/A) insurance companies showed that not only did COVID-19 have a limited impact on operating performance, those insurers with an assessment of very strong have not reported an operating loss in two decades. In its Best’s Special Report, titled, “Limited COVID-19 Impact on U.S. L/A Operating Performance […]
Security Benefit Adds An “A” Financial Strength Rating
{May 16th, 2022} by Security Benefit
TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit, a leader in the U.S. retirement market, today announced that DBRS Morningstar has assigned a Financial Strength Rating of “A” (stable) to Security Benefit Life Insurance Company (SBLIC)* and First Security Benefit Life Insurance & Annuity Company of New York (FSBL). Both are subsidiaries of SBL Holdings, Inc., to which DBRS […]
Why RIJ Obsesses over the ‘Bermuda Triangle’
{May 10th, 2022} by Kerry Pechter
As an RIJ reader, you might have wondered why we spend so much editorial space on the ‘Bermuda Triangle’ phenomenon. There are three main reasons. Click HERE to read the full story via RIJ Wink’s Note: If Kerry Pechter of “Retirement Income Journal” is concerned about this… I guess I am too? -sjm
Ash Brokerage Joins Integrity in Historic Partnership to Further Innovate Insurance and Financial Services
{May 10th, 2022} by Integrity Marketing Group
Transformational union of industry trailblazers will empower agents and advisors to provide more holistic life, health and wealth solutions that help Americans plan for the good days ahead DALLAS, May 4, 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 […]
How advisors can help clients get early retirement account distributions – without paying a penalty
{May 10th, 2022} by Jeffrey Levine
The Internal Revenue Code encourages individuals to save for retirement by offering taxpayers the ability to invest for their ‘golden years’ through a variety of tax-favored retirement accounts such as IRAs, Roth IRAs and 401(k) plans. But the tax benefits provided by these accounts don’t come without strings attached. Notably, in order to help ensure […]
IRS Proposes Updating Life Expectancy Tables for Annuities
{May 10th, 2022} by Austin R. Ramsey
The Internal Revenue Service is updating the life expectancy tables insurance companies use to calculate the value of and interest rates on annuities. The proposed new actuarial tables reflect updated Census and population trend data. They apply to annuities retirees use to hedge against outliving their retirement income. The public can comment on the revised […]
AIG Ramps Up Life & Retirement Split While Annuity Sales Climb
{May 10th, 2022} by John Hilton
American International Group benefited from a surge in fixed annuity business in the first quarter, even while it continues a plan to split off its Life & Retirement business. The company’s plan for Life & Retirement is into its second year and remains on track, CEO Peter Zaffino said during this morning’s first quarter earning’s […]
Insure.com’s 2022 Mother’s Day Index: Mom’s Role Soars to $126,725
{May 10th, 2022} by Insure.com
Salaries are rising – and a mother’s economic value increased 9.2% in the last year FOSTER CITY, Calif., May 4, 2022 /PRNewswire/ — Insure.com, a comprehensive source for insurance information, releases its 12th annual Mother’s Day Index showing that the work many moms typically perform for their households could justify an income of more than $126,725. That’s an increase […]
CUNA Mutual Group Announces Plans To Unify Under One Brand in 2023
{May 10th, 2022} by CUNA Mutual Group
Company to Become TruStage®, Reflecting Outstanding Growth and Continuing to Improve Customer Experience MADISON, Wis., May 5, 2022 /PRNewswire/ — CUNA Mutual Group today announced its plans to unify its businesses under a single brand, TruStage, in 2023. The change strengthens the company’s ability to serve those who count on it most. “We were born out of the […]
Simplicity Group Completes its 35th Acquisition — Buckhead Brokerage Group — and Welcomes Forrest Mitchell as Newest Partner
{May 10th, 2022} by Simplicity Group
SUMMIT, N.J., May 3, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”) today announced the acquisition of Georgia-based Buckhead Brokerage Group (“Buckhead”). With the completion of this transaction, Simplicity welcomes Forrest Mitchell as its newest partner. “Forrest and his team are first-class professionals, well-aligned with Simplicity’s guiding principles of education, value, and partnership,” Bruce Donaldson, President and CEO of Simplicity. “Like the team […]
TIAA Named a 2022 DiversityInc Top 50 Company
{May 10th, 2022} by TIAA
NEW YORK, May 5, 2022 /PRNewswire/ — TIAA has ranked number eight on DiversityInc’s 2022 Top 50 Companies list. The organization also ranked as a Top Company for Environmental, Social & Governance, a Top Company for Employee Resource Groups and a Top Company for Executive Diversity Councils. This year marks a decade that TIAA has been included on the list and the third […]
Simplicity Group Acquires Blue Ocean Financial Network and Welcomes Christopher Yen as Newest Partner
{May 10th, 2022} by Simplicity Group
SUMMIT, N.J., May 5, 2022 /PRNewswire/ — The Simplicity Group (“Simplicity”) today announced the acquisition of Northern California-based Blue Ocean Financial Network (“Blue Ocean”) and welcomed Christopher Yen as its newest partner. This Blue Ocean transaction is Simplicity’s 36th acquisition. Following completion, Blue Ocean will transition to the Simplicity brand, and the day-to-day operations will continue to be managed by Chris Yen. […]
Midwest Holding Schedules Conference Call to Discuss First Quarter 2022 Results
{May 10th, 2022} by Midwest Holding Inc
LINCOLN, Neb., May 5, 2022 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT) today announced plans to host a conference call to discuss financial and operating results for the first quarter of 2022 on May 17, 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 the […]
Prudential Financial, Inc. Announces First Quarter 2022 Results
{May 10th, 2022} by Prudential Financial
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported first quarter results. Net loss attributable to Prudential Financial, Inc. was $31 million ($0.10 per Common share) for the first quarter of 2022, compared to net income of $2.828 billion ($6.98 per Common share) for the first quarter of 2021. After-tax adjusted operating income was $1.218 […]
AIG Recognized among Top 50 Companies for Diversity by DiversityInc for Fifth Consecutive Year
{May 10th, 2022} by AIG
NEW YORK–(BUSINESS WIRE)–For the fifth consecutive year, American International Group, Inc. (NYSE: AIG) has been named one of DiversityInc’s Top 50 Companies for Diversity, the leading assessment of diversity management in corporate America. AIG has elevated its rank every year since first reaching the Top 50 in 2018 and improved from 37th to 32nd place in 2022. […]
Brighthouse Financial Announces First Quarter 2022 Results
{May 10th, 2022} by Brighthouse Financial
CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the first quarter ended March 31, 2022. First Quarter 2022 Results The company reported net income available to shareholders of $613 million in the first quarter of 2022, or $7.91 per diluted share, compared with a net […]
Equitable Holdings Reports First Quarter 2022 Results
{May 10th, 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 first quarter ended March 31, 2022. “Our fair value economic approach and use of market interest rates have led to robust cash flows despite volatile markets and geopolitical conflict. We reported first quarter Non-GAAP operating earnings […]
Horace Mann reports first-quarter 2022 net income of $0.35 per share and core earnings* of $0.64 per share
{May 10th, 2022} by Horace Mann Educators Corporation
SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the three months ended March 31, 2022: ($ in millions, except per share amounts) Three Months Ended March 31, 2022 2021 % Change Total revenues $ 346.8 $ 322.0 […]
Lincoln Financial Group Reports First Quarter 2022 Results
{May 10th, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the first quarter of 2022 of $104 million, or $0.58 per diluted share available to common stockholders, compared to net income in the first quarter of 2021 of $225 million, or $1.16 per diluted share available to common stockholders. First quarter adjusted income […]
