Innovative Topsider Fixed Indexed Annuity Launched by Oceanview Life and Annuity Company and Simplicity Group
{September 18th, 2024} by Oceanview Life and Annuity Company and Simplicity Group
DENVER & SUMMIT, N.J.–(BUSINESS WIRE)–Oceanview Life and Annuity Company, a leader in innovative retirement solutions, and Simplicity Group (“Simplicity”), a leading financial products distribution company, today announced the launch of the Oceanview Topsider Fixed Indexed Annuity (Topsider FIA). The Topsider FIA is designed to provide clients with enhanced growth potential while maintaining the principal protection […]
Corebridge Financial on its own and moving to dominate the market
{September 18th, 2024} by John Hilton
Corebridge Financial begins corporate life free from the shadow of American International Group in a strong position to attack the massive retirement market. “Peak 65 I think, essentially defines our marketplace,” said Kevin Hogan, Corebridge CEO. “The fact that 4 million people are going to turn 65 each year for the next decade, each of […]
We really don’t do a good job of supporting new agents
{September 18th, 2024} by Sheryl J. Moore
My friend David H. Kinder, RFC®, ChFC®, CLU® put together an “Interviewing the Interviewer” video, which provides key tops for new agents, looking to contract with a career agency insurance company. I learned A LOT watching this. We really don’t do a good job of supporting new agents, looking to get into this business. This […]
I Give a Damn About Life Insurance – You Should Too! #LIAM Reprint
{September 18th, 2024} by Sheryl J. Moore
Starting out in the insurance industry 20 years ago, there was one thing that I learned quickly and that was life insurance was a necessity. Life insurance guards against the risk of dying unexpectedly. And let’s face it – we’re all going to die. For that reason alone, I thought that I should purchase life […]
DROPPING SOME KNOWLEDGE ON UNIVERSAL LIFE PRODUCTS: REPRINT #LIAM
{September 18th, 2024} by Sheryl J. Moore
Recently, one of the largest Field Marketing Organizations (FMOs) in the country asked for Wink’s help with a big premium financing case. While preparing to run illustrations for the study, our team reviewed the list of products that the FMO wanted to include. I was shocked to see that while all of the products were […]
Corebridge Aims to Launch First RILA Product by Year’s End
{September 18th, 2024} by Aaron Smith
Corebridge CEO Kevin Hogan said that the insurer is planning to launch the carrier’s first RILA product this year, and hinted at more reinsurance deals with its Bermuda subsidiary. “Whilst we have a broad product range, we are looking forward to introducing our own version of a RILA product sometime before the end of the year,” said Hogan […]
A passion for advocacy: Matthew Tassey
{September 18th, 2024} by Susan Rupe
If you knew Matthew Tassey’s story, you would say he was destined for an insurance career and destined to be an advocate for his industry. Tassey is principal at E.A. Scribner Insurance Agency in Scarborough, Maine, and a 51-year veteran of the life insurance industry. The National Association of Insurance and Financial Advisors on Sept. […]
Gen Z feels ‘overwhelmed’ and ‘anxious’ about insurance
{September 18th, 2024} by Susan Rupe
Generation Z is the newest generation to reach adulthood and the thought of dealing with insurance makes Gen Z overwhelmed and anxious. That was one of the findings from a National Association of Insurance Commissioners survey of Gen Z attitudes about insurance. More than half of Gen Zers surveyed (54%) said they felt overwhelmed or anxious about […]
MassMutual Consumer Spending & Saving Index: Many Americans are Opting for Childfree Lives over the Financial Strain of Parenthood
{September 18th, 2024} by MassMutual
SPRINGFIELD, Mass.–(BUSINESS WIRE)–Many younger Americans are worried that the relative financial freedom they enjoy in their childfree lives would be impossible to maintain if they started a family, according to the latest Consumer Spending & Saving Index from MassMutual. The quarterly survey provides insights into consumers’ financial habits, beliefs and expectations within the current economic landscape. “With today’s financial […]
Symetra Named a Fortune 2024 Best Workplace in Financial Services and Insurance™
{September 18th, 2024} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company announced that Fortune® magazine and Great Place To Work® have recognized the company as one of the 2024 Best Workplaces in Financial Services and Insurance™. This is Symetra’s second consecutive appearance on the list, coming in at No. 30 among organizations in the large workplaces category. Great Place To Work®, […]
Gen Z Wants Financial Planning Help — Not Debt Solutions
{September 18th, 2024} by The Standard
PORTLAND, Ore.–(BUSINESS WIRE)–A new study from The Standard shows that Gen Z takes a forward-looking approach to money, wanting help with saving and planning — while managers and HR leaders think this age group is more worried about debt. Boost Financial Literacy, Build Gen Z Tenure explores frontline people managers’ views of Gen Z and benefits and […]
Equitable Enhances Flagship Retirement Solution for K-12 Educators
{September 18th, 2024} by Equitable
NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced a new series to its EQUI-VEST line of deferred variable annuity products, EQUI-VEST® Series 202. This enhanced version is designed to help educators supplement their retirement savings by providing additional choices, flexibility and a level of certainty. EQUI-VEST® Series […]
AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries
{September 18th, 2024} 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 […]
AM Best Downgrades Credit Ratings of Stellar National Life Insurance Company; Places Credit Ratings Under Review With Developing Implications
{September 18th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bbb” (Good) of Stellar National Life Insurance Company (Stellar) (Phoenix, AZ). Concurrently, AM Best has placed the Credit Ratings (ratings) under review with developing implications. The ratings reflect Stellar’s balance […]
AM Best Revises Outlooks to Negative for Oxford Life Insurance Company and Its Subsidiary
{September 18th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” (Excellent) of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ), and its subsidiary, Christian Fidelity Life Insurance Company (Dallas, TX), which are collectively referred to as Oxford […]
Income Lab Launches Innovative Annuity Features to Enhance Retirement Planning
{September 18th, 2024} by Income Lab
DENVER–(BUSINESS WIRE)–Income Laboratory, Inc. (Income Lab), maker of award-winning retirement income planning software, today announced the launch of its cutting-edge annuity modeling, comparison, and stress testing capabilities. Advisors can now incorporate annuities into retirement income plans and give clients a comprehensive view of how lifetime income can affect their financial lives. This new offering is […]
F&G and Accenture Collaborate to Optimize Technology Platform Capabilities for Retail Annuity Growth
{September 18th, 2024} by F&G Annuities & Life, Inc
NEW YORK & DES MOINES, Iowa–(BUSINESS WIRE)–F&G Annuities & Life, Inc (F&G) (NYSE: FG), a leading U.S. provider of insurance solutions serving retail annuity and life customers and institutional clients, announced a strategic collaboration with Accenture (NYSE: ACN) to enhance F&G’s technology platform capabilities to optimize and scale operations for future growth through the utilization […]
Global Atlantic Announces New Leadership for Individual Markets Business
{September 18th, 2024} by Global Atlantic Financial Group
NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced that Chief Operations Officer Emily LeMay and Chief Distribution Officer Jason Bickler have been appointed Co-Heads, Individual Markets, effective immediately. Ms. LeMay and Mr. Bickler will report to Rob Arena, […]
Only One in Three American Millionaires Feel “Wealthy” and Nearly Half Say Their Financial Planning Needs Improvement, According to Northwestern Mutual Planning & Progress Study
{September 18th, 2024} by Northwestern Mutual
MILWAUKEE, Sept. 4, 2024 /PRNewswire/ — If you think millionaires feel financially invincible, think again. Just one-third (32%) of American millionaires consider themselves “wealthy” and nearly half (48%) believe that their financial plans need improvement. These are some of the latest findings from Northwestern Mutual’s 2024 Planning & Progress Study – the company’s proprietary research series that explores Americans’ […]
World Financial Group Highlights Importance of Financial Preparedness During Life Insurance Awareness Month
{September 18th, 2024} by World Financial Group
World Financial Group’s focus stems from its latest Financial IQ Study finding only 37% of U.S. households confidently manage their personal finances to achieve future security. CEDAR RAPIDS, Iowa, Sept. 17, 2024 /PRNewswire/ — September is Life Insurance Awareness Month (LIAM), and World Financial Group (WFG) is bringing attention to the importance of including life insurance as […]
Simplicity Acquires benefitRFP and Names Bob Nienaber as its Newest Partner
{September 18th, 2024} by Simplicity Group
SUMMIT, N.J., Sept. 11, 2024 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”), a leading financial products distribution firm, today announced it has acquired benefitRFP and welcomes the company’s founder, Bob Nienaber as the group’s newest partner. benefitRFP advises companies across the U.S. on the design, implementation, administration, and servicing of executive benefit plans. “Bob and the team at benefitRFP bring […]
Fortune Media and Great Place To Work Name Penn Mutual to 2024 Best Workplaces in Financial Services & Insurance List
{September 18th, 2024} by The Penn Mutual Life Insurance Company
PHILADELPHIA, Sept. 12, 2024 /PRNewswire/ — Great Place To Work® and Fortune have selected The Penn Mutual Life Insurance Company for the 2024 Fortune Best Workplaces in Financial Services & Insurance™ List. This is Penn Mutual’s second time being named to this prestigious list. Earning a spot means that Penn Mutual is one of the best companies to work for in the […]
Behavioral Science in Life Insurance Focus of New Study from Society of Actuaries Research Institute
{September 18th, 2024} by Society of Actuaries Research Institute and Reinsurance Group of America, Incorporated
CHICAGO, Sept. 12, 2024 /PRNewswire/ — The Society of Actuaries (SOA) Research Institute, in collaboration with Reinsurance Group of America, Incorporated (NYSE:RGA), a leading global life and health reinsurer, announced findings from new research on behavioral science for the life insurance sector. This research simulated online term life insurance purchasing to test behavioral science techniques. The research report “Searching […]
SSIP Joins with Integrity to Leverage Innovative Technology and Proven Growth Platform to Provide More Holistic Insurance Solutions to Seniors
{September 18th, 2024} by Integrity Marketing Group, LLC
DALLAS – SEPTEMBER 10, 2024 – Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has partnered with Senior Security Insurance Partners (“SSIP”), an independent marketing organization based in Mansfield, Ohio, and led by Sam Hoyek. Financial details of the partnership were not […]
Kalsi Insurance Agency and Integrity Partner to Offer Robust Insurance Solutions to Underserved Communities
{September 18th, 2024} by Integrity Marketing Group, LLC
DALLAS – SEPTEMBER 17, 2024 – Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has partnered with Kalsi Insurance Agency, an independent marketing organization based in Rancho Cucamonga, California, and led by Navdeep Kalsi. Financial details of the partnership were not […]
Annuity Provider A-CAP Injected Billions Into Failing Firm, Lawsuit Alleges
{September 18th, 2024} by Jacob Adelman
The Advantage Capital insurance group has been spending heavily to keep one of its major borrowers, 777 Partners, out of bankruptcy proceedings, another one of 777’s lenders has alleged in court filings. The lawsuit claims that Advantage Capital, or A-CAP, is seeking to avoid a bankruptcy filing by 777, which could bring scrutiny of its […]
Get inflation-protected income for life? Here’s how you can set it up.
{September 18th, 2024} by Mark Hulbert
Annuities are better bargains if you purchase them right before interest rates decline. But if you’re worried that inflation could climb significantly higher, they may still be a bad idea. It’s important to point this out because of the spate of recent articles urging us to buy annuities right away, since interest rates are presumably […]
What the IRS Manual Tells Staffers About Life and Annuities
{September 18th, 2024} by Allison Bell
Internal Revenue Service officials reveal some of their views about life insurance and annuities in the Internal Revenue Manuals, a guide for tax collectors. One section, Part 5. Collecting Process, tells IRS employees what to do when they’re searching taxpayers’ finances for “reasonable collection potential.” For IRS employees, the reasonable collection potential search is a broad, highly […]
How advisors can ease client fears of outliving retirement income
{September 18th, 2024} by Rob Burgess
Despite increased optimism about their retirement accounts, many savers reported feeling nervous about outliving their retirement income. According to the recently released fourth annual Protected Retirement survey from the Nationwide Retirement Institute, nearly two-thirds (65%) of respondents say they are on the right track to be financially prepared for retirement. This figure rises to 71% […]
The Unavoidable Truth About Retirement Investing: Josh Brown
{September 18th, 2024} by Jane Wollman Rusoff
At its heart, investing for retirement comes down to a simple truth, according to Josh Brown, CEO of Ritholtz Wealth Management. “Take your risk today, or take it later. But one way or the other, risk is the main thing. … There’s no such thing as riskless rewards,” Brown maintains in an interview with ThinkAdvisor. […]
Singlife Introduces Indexed Universal Life Plan with Minimum Sum Assured of US$250,000 for Singapore’s Growing Affluent Segment
{September 18th, 2024} by Singlife
An accessible Indexed Universal Life plan that offers potentially higher returns linked to the performance of the S&P 500 Index and Nasdaq-100 Index and a guaranteed floor rate of 0% SINGAPORE, Sept. 11, 2024 /PRNewswire/ — Leading homegrown financial services company Singlife introduces Singlife Legacy Indexed Universal Life (IUL), a non-participating universal life plan that is one of the most […]
Cases Mount Against Advisor Accused of Stealing Millions From His Aunt
{September 18th, 2024} by Jamie Johnson
Civil cases appear to piling up against a Pennsylvania financial advisor already accused of draining millions from clients, including his widowed aunt and a retired executive. Scott J. Mason now faces a longer list of civil cases from alleged victims, in addition to ongoing investigations by the Federal Bureau of Investigation and the Securities and Exchange Commission. […]
Private equity, artificial intelligence coming fast at life insurers: LIMRA CEO
{September 18th, 2024} by John Hilton
The life insurance industry faces familiar challenges with talent shortages and how to meet the glaring product needs. Unlike the past, however, new tools and resources exist to change the narrative going forward. Dave Levenson, CEO of LIMRA and LOMA, will address the great potential for positive change in a state-of-the-industry address today. Click HERE […]
Diversified Brokerage Services, Inc. Launches New Annuity Division
{September 18th, 2024} by Diversified Brokerage Services, Inc.
Minneapolis, MN – Diversified Brokerage Services, Inc. (DBS), a leading provider of insurance brokerage services, is thrilled to announce the launch of its new Annuity Division. This strategic addition is set to enhance the support provided to financial advisors and their clients, reinforcing DBS’s commitment to innovation and excellence in the life insurance industry. The […]
Term to Universal to Whole Life: Matching client needs to the right product
{September 18th, 2024} by Drew Gurley
What is the right type of life insurance for your client? This seems to be a harmless question, but it’s one that drives agents mad. The typical answer is “it depends.” Click HERE to read the full story via INN
Term life sales on pace for record year, says Limra
{September 18th, 2024} by Leo Almazora
Term life insurance sales maintained their upward trajectory in the second quarter of 2024, putting the category on course for a record year after closing its sixth consecutive quarter of growth, according to Limra’s US Life Insurance Sales Survey. Click HERE to read the full story via Investment News Wink’s […]
Be kind.
{September 10th, 2024} by Sheryl J. Moore
I will never forget that day. My neighbor said he was doing cartwheels in the back yard, and playing with the dogs an hour before he was found dead. He complained to me that the kids at school were bullying him. He said they told him to “go to h*ll” because he was going to […]
LINE OF BUSINESS: SALES, % CHNG/QTR and % CHNG/YR
{September 10th, 2024} by Sheryl J. Moore
LINE OF BUSINESS: SALES, % CHNG/QTR and % CHNG/YR All Universal Life: $1.13 billion, 11.92% and N/A > Non-Variable Universal Life: $847.41 million, 12.08% and 2.37% >> Universal Life: $100.54 million, 12.21% and -1.06% Indexed Life: $747.23 million, 12.08% and 2.88% >>Variable Universal Life: $291.60 million, 11.44% and N/A Whole Life: $1.08 billion, 6.37% and […]
Life insurance sales deliver strong rebound in second quarter, Wink finds
{September 10th, 2024} by Staff Reports
Life insurance sales rebounded nicely during the second quarter, Wink, Inc. reported in its Sales and Market Report. Universal life sales for the quarter exceeded $1.1 billion, up 11.9% compared to the previous quarter. All universal life sales include fixed UL, indexed UL, and variable UL products. Click HERE to read the full story via INN
Wink’s Annuity Sales & Market Report, 2Q2024
{September 10th, 2024} by Editorial Staff
Athene USA was the annuity sales leader (overall market share of 8.2%; 11.9% for non-variable deferred annuities), followed by MassMutual, Corebridge Financial, Equitable Financial and Nationwide. Total second quarter sales for all annuities were $109.6 billion; sales were up 3.7% when compared to the previous quarter, according to Wink’s Sales & Market Report for the […]
FUNDING UNIVERSAL LIFE INSURANCE AT TARGET? YOU’RE MISSING THE POINT: REPRINT #LIAM
{September 10th, 2024} by Sheryl J. Moore
The following article is a reprint, originally written July 15, 2013 by Sheryl J. Moore: Throughout the past [20] years of working with universal life (UL) products, one comment in particular has been overheard far too often: “…fund this UL at [X percent] over target.” This comment is especially popular in the indexed life market, […]
The Inconceivable Life Lesson #LIAM Reprint
{September 10th, 2024} by Sheryl J. Moore
He was not yet four years old when my manager in the home office sat me down and suggested that I purchase life insurance for my oldest child, my only son, AJ. It seemed strange to me to consider his death. Why would I want to purchase life insurance on my child? I would predecease him. This […]
Life Insurance Buyers Like the Stock Market
{September 10th, 2024} by Allison Bell
U.S. life insurance sales figures show buyers falling back in love with the investment markets in the second quarter. Issuers reported making $4 billion in individual life sales in the quarter, about the same as in the second quarter of 2023, according to new market survey data from LIMRA. Click HERE to read the full story via […]
Leading a 175-year-old ‘startup’ — With National Life’s Mehran Assadi
{September 10th, 2024} by Paul Feldman
National Life Insurance Co. started 175 years ago. In 1996, it acquired Life Insurance Company of Southwest, which became part of National Life Group. Today, as the No. 1 provider of indexed universal life and the No. 1 provider of fixed index annuities within the employer-sponsored K12 space, Mehran Assadi has led the company to […]
Bristol-Myers Sued Over $2 Billion Pension Annuity Transfer
{September 10th, 2024} by Jacklyn Wille
Bristol-Myers Squibb Co. was sued by a former employee who says the pharmaceutical company jeopardized workers’ retirement benefits by offloading $2 billion in pension liabilities to an annuity provider he describes as “highly risky.” The proposed class action challenges a 2019 transaction in which Bristol-Myers allegedly removed thousands of plan participants by purchasing group annuity contracts from […]
Retirement savings black hole revealed with 1 in 5 having nothing saved
{September 10th, 2024} by Steve Randall
Millions of Americans have retired with no savings at all, while many more have less than the US average wage to support them in their later years. Click HERE to read the full story via InvestmentNews Wink’s Moore on the Market: Fascinating retirement survey. (You know how I love stats!) “Looking at those already […]
Will Fed Rate Cuts Make Fixed Annuities Less Desirable?
{September 10th, 2024} by Ben Mattlin
Even though a cut in the Fed’s benchmark interest rate hasn’t happened yet, the anticipation is already having an affect on some annuities, advisors say. Fixed annuities, rather than variable annuities, will feel the most direct impact, they predict. “When the Federal Reserve lowers interest rates, the effective rates on fixed annuities will also decrease,” […]
I wonder how much this would be in 2024 money?
{September 10th, 2024} by Sheryl J. Moore
Reading Gary Schulte’s “The Fall of First Executive…” I just read a staggering statistic in the first chapter- “In fact, by the late 1970’s, industry statistics revealed that it cost the typical career agency company over $200,000 to put each agent through his or her fourth year in business.” I wonder how much this would […]
How To Fund An IUL And Get Your Premium Back
{September 10th, 2024} by Brian Manderscheid
The life insurance industry heavily promotes and focuses on the idea of using Indexed Universal Life (IUL), or other cash value life insurance policies, for a supplemental tax-free retirement income stream or even to “become your own bank.” However, in recognition of Life Insurance Awareness Month, I want to present a concept using Indexed Universal […]
Best’s Special Report: Strong Annuity Growth Continues Shift to Bermuda Reinsurers
{September 10th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Fueled by strong annuity growth on higher interest rates, U.S. life/annuity (L/A) insurers have doubled their ceded reserves to $1.74 trillion between 2016 and 2023, with an increasingly larger portion headed offshore, according to a new AM Best report. The Best’s Market Segment Report, “Strong Annuity Growth Continues Shift to Bermuda Reinsurers,” is part of AM […]
Jackson Wins Datos Insights Insurance Technology Impact Award
{September 10th, 2024} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc.i (NYSE: JXN), has been honored by Datos Insights with a 2024 Insurance Technology Impact award for its Registered Index-Linked Annuity (RILA) Digital Ecosystem. The RILA Digital Ecosystem is a one-stop-shop illustrating the benefits of RILAs, providing a customized, real-time look at […]
AM Best Assigns Credit Ratings to Upstream Life Insurance Company
{September 10th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating of B- (Fair) and a Long-Term Issuer Credit Rating of “bb-” (Fair) to Upstream Life Insurance Company (Upstream Life) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect Upstream Life’s balance sheet strength, which AM Best assesses as weak, as […]
Finseca: How to Make the Most of Life Insurance Awareness Month
{September 10th, 2024} by Finseca
WASHINGTON, Sept. 5, 2024 /PRNewswire/ — September is Life Insurance Awareness Month—a timely reminder to reevaluate your financial security plan. Life insurance, a cornerstone of a solid financial strategy, is often overlooked despite its important role in protecting your future. Whether you aim to cover essential expenses, eliminate debts, support your family, or leave a lasting legacy, […]
Attorneys: Chubb ruling could have ‘dangerous’ implications for brokers, policyholders
{September 10th, 2024} by Rayne Morgan
Attorneys at Reed Smith LLP say a recent court ruling over the wording of a Chubb Insurance Company policy adds a new level of uncertainty to coverage expectations in a way that could set a “dangerous” precedent if continued. In the case of ECB USA v. Chubb, the Eleventh Circuit Court of Appeals ruled that […]
Consumer misunderstanding may contribute to life insurance coverage gap
{September 10th, 2024} by Ayo Mseka
While many Americans have a good understanding of key life insurance principles, nearly 6 in 10 either do not have coverage or do not know if they do, according to the 2024 Corebridge Life Insurance Insights & Awareness Survey. Misunderstandings around cost could help explain this life insurance coverage gap. While 8 in 10 (80%) […]
Lumen Technologies latest company sued over a PRT deal with Athene
{September 10th, 2024} by John Hilton
As private equity firms continue hunting pension risk transfer deals, corresponding lawsuits from aggrieved pensioners are increasing as well. A lawsuit filed last week in Colorado accused Lumen Technologies of bypassing its fiduciary obligations to select the “safest annuity available” in favor of a lucrative PRT deal with Athene Life & Annuity. Athene, a wholly […]
Insurance Terms Confuse Young Consumers: NAIC
{September 10th, 2024} by Allison Bell
Companies that want to sell life insurance, annuities and related products and services to the youngest adults will have to do more to explain what the words mean. Only 32% of U.S. residents ages 18 through 27 told a survey team that they know what an insurance claim is, according to the National Association of […]
What Would Happen if a Big Insurer Failed?
{September 10th, 2024} by Allison Bell
The effect of the failure of a large U.S. life, health or annuity issuer on state life and health guaranty funds is not clear, according to Daniel Hartley, a senior economist at the Federal Reserve Bank of Chicago. A state guaranty fund usually imposes assessments on surviving member insurers to cover the cost of an insurer […]
Annuity Issuers Send More Business to the Cayman Islands
{September 10th, 2024} by Allison Bell
U.S. life insurance and annuity issuers are using reinsurance arrangements based in the Cayman Islands to back a growing share of their business, according to a team of analysts at Moody’s Ratings. The Cayman Islands and its insurers maintain that the self-governing British territory has a thorough, modern regulatory system. But the Moody’s team contends […]
US life/annuity insurers cede $1.74 trillion to reinsurers, 2016-23
{September 10th, 2024} by Editorial Staff
Fueled by strong annuity growth on higher interest rates, U.S. life/annuity (L/A) insurers have doubled their ceded reserves to $1.74 trillion between 2016 and 2023, with an increasingly larger portion headed offshore, according to a new AM Best report.The Best’s Market Segment Report, “Strong Annuity Growth Continues Shift to Bermuda Reinsurers,” is part of AM Best’s look at […]
Why 401(k) Plan Sponsors Remain Wary of Annuities
{September 10th, 2024} by Kerry Pechter
The SECURE Act’s safe harbor for 401(k) annuities was presumably well-intended. But it may be a case of too little, too soon. Let me explain. Asset managers and life/annuity companies, of course, are more than ready to pitch income-generating products to the $7.4 trillion 401(k) plan market. Click HERE to read the full story via RIJ
A Technical Way Of Looking At GLWBs When Rates Decrease
{September 10th, 2024} by Charlie Gipple
In addition to running an independent marketing organization where I help four hundred agents with their annuities, life, and long term care business, I also have a small group of high-net-worth clients I work with. Here, I help them with their retirement planning, estate planning, tax planning, and long term care planning. This is also […]
Whole Life Flexibility And Case Design (Part 2 Of 3)
{September 10th, 2024} by Charlie Gipple
In part one of the series, and in last month’s edition, we discussed how it is perceived that whole life insurance is very rigid because the structure of the base policy “generally“ requires the premium be paid for the duration that the product was designed for. But then I countered that argument by discussing the […]
Innovation At The Forefront: How BackNine Insurance And GRAIL Are Redefining Life Insurance
{September 10th, 2024} by Ken Leibow
In the evolving landscape of the life insurance industry, innovation and technology are becoming key differentiators for companies striving to stay ahead. The first part of this two-part article highlights how BackNine Insurance has become a pioneer by integrating advanced technology with traditional insurance brokerage services. Founded in 2008, BackNine has grown into a market […]
Wink, Inc. Releases Second Quarter, 2024 Life Sales Results
{September 4th, 2024} by Wink's Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE LIFE INSURANCE SALES REBOUND IN THE SECOND QUARTER Wink, Inc. Releases Second Quarter, 2024 Life Sales Results Des Moines, Iowa. September 3, 2024– Wink, Inc. released the second quarter, 2024 life sales results in its 108th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report is the […]
SECOND QUARTER 2024 LIFE INSURANCE SALES
{September 4th, 2024} by Sheryl J. Moore
All Universal Life Sales for the second quarter of 2024 were $1,139 million. Second quarter universal life sales were up nearly 12% when compared to the previous quarter. Given that this is the second quarter that Wink has collected data on sales of all universal life insurance products, additional comparisons will be available in future […]
We Need Help Growing Life Insurance Distribution: REPRINT #LIAM
{September 4th, 2024} by Sheryl J. Moore
Originally posted February 5, 2011 by Sheryl J. Moore Most of you know that I am passionate about indexed life insurance and indexed annuities. However, I am passionate about insurance products in general. In fact, one of the things that I am MOST passionate about is growing our distribution! Not so long ago, life insurance […]
Death Benefit Claim Fail #LIAM Reprint
{September 4th, 2024} by Sheryl J. Moore
As the nation’s top expert on life insurance and annuity products, I have spent a great deal of my time over the last couple of decades pouring-over specimen contracts and prospectuses. It’s what I do. It’s why I’m the life of the party. Given that, I am going to admit to you one […]
American Life & Security Corp. Launches MaxGrowth: A Cutting-Edge Accumulation-Based Fixed Indexed Annuity
{September 4th, 2024} by American Life & Security Corp
LINCOLN, Neb.–(BUSINESS WIRE)–American Life & Security Corp., a rapidly growing name in the annuity and retirement space, is proud to unveil its newest innovation, American Life MaxGrowth 10 Fixed Indexed Annuity (FIA). MaxGrowth is designed to enhance retirement savings through accumulation while offering the security of principal protection. MaxGrowth addresses the evolving needs of today’s […]
Q2 Buffered Annuity Sales Running ‘Neck and Neck’ with Traditional VAs
{September 4th, 2024} by Cyril Tuohy
High interest rates and demand for products with some downside protection helped sales of [structured] annuities edge out traditional variable annuities again in the second quarter, according to new research. April-through-June sales of the [structured] annuity product line, also known as registered index-linked annuities (RILAs), or [buffered variable] annuities, rose 44.6% from a year ago […]
Insurers, Agents Speak Up for Life Insurance Awareness Month
{September 4th, 2024} by Allison Bell
Life Happens and its supporters are spreading the message that responsible adults need life insurance to protect their loved ones and pay their final expenses. The National Association of Insurance and Financial Advisors affiliate will run its 21st Life Insurance Awareness Month campaign in September. Click HERE to read the full story via Think Advisor
AM Best Affirms Credit Ratings of Global Atlantic Financial Group Limited and Its Subsidiaries
{September 4th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Commonwealth Annuity and Life Insurance Company (Brighton, MA), First Allmerica Financial Life Insurance Company (Brighton, MA), Forethought Life Insurance Company (Indianapolis, IN), Accordia Life and Annuity Company (Des Moines, IA), […]
AM Best Withdraws Credit Ratings of National Western Life Group, Inc.
{September 4th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has withdrawn the Long-Term Issuer Credit Rating of “bbb-” (Good) of National Western Life Group, Inc. (National Western) (headquartered in Austin, TX). At the time of this withdrawal, the Credit Rating (rating) outlook is stable. AM Best has withdrawn this rating as National Western has requested to no longer participate in AM […]
OneAmerica Financial® maintains strong performance ratings, according to A.M. Best, S&P Global
{September 4th, 2024} by OneAmerica
INDIANAPOLIS, Aug. 30, 2024 /PRNewswire/ — OneAmerica Financial® today announced that A.M. Best Company and S&P Global Ratings have each separately recognized American United Life Insurance Company® (AUL) and its affiliate The State Life Insurance Company® (State Life), both companies of OneAmerica Financial, for their financial strength. A.M. Best affirmed an A+ (Superior) rating, which is the second-highest of 15 […]
AM Best Comments on Credit Ratings of American National Group’s Members Following Announced Coinsurance Agreement With Reinsurance Group of America, Incorporated
{September 4th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of American National Insurance Company (ANICO) and its affiliates, American National Life Insurance Company of Texas and American National Life Insurance Company of New York (Glenmont, NY), collectively known as American National Group […]
TruStage™ Recognized in “Barron’s Best Annuities for Income and Growth” Feature for Sixth Year in a Row
{September 4th, 2024} by TruStage
MADISON, Wis., Aug. 27, 2024 /PRNewswire/ — TruStage today announced that Barron’s has recognized their products in the “Top 100 Best Annuities” feature1 for 2024, for six years running. TruStage products were mentioned 11 times in this year’s rankings. ZoneChoice Annuity, Single Premium Immediate-Income Annuities (SPIAs) and Future Income Annuities (FIAs) were selected yet again, and Zone Income Annuity was recognized for the […]
New! New! New!
{September 4th, 2024} by Sheryl J. Moore
American Life & Security Corp. launched their new MaxGrowth indexed annuity! If you want more information on this unique product, log into Wink, Inc.’s AnnuitySpecs tool NOW. AnnuitySpecs users may click the links below to view product specifications. MaxGrowth 10 MaxGrowth 10 Bonus Last week, I was able to give you all a […]
Getting drunk on fees
{September 4th, 2024} by Sheryl J. Moore
Indexed annuity bonuses, with fees. Indexed annuity indexing methods, with fees. Indexed annuity guaranteed lifetime withdrawal benefits, with fees. Indexed annuities with fees, for the sake of having fees. Who thinks carriers are getting drunk on fees? This used to be a product that HAD NO FEES, ever. -sjm Join in the conversation on […]
Parties seek stay of deadline for fiduciary rule appeal decision
{September 4th, 2024} by John Hilton
The Office of the Solicitor General has not decided whether to appeal a stay freezing the Department of Labor’s latest attempt to expand fiduciary duty. Texas Judge Jeremy D. Kernodle issued the stay on July 25 in a lawsuit brought by the Federation of Americans for Consumer Choice. Attorneys for both plaintiffs and defendants jointly asked Kernodle […]
The IUL conundrum: big sales and big problems
{September 4th, 2024} by John Hilton
Indexed universal life is a lot of things, depending on who you are talking to. To many consumers, IUL is a multipurpose product that helps them accomplish a lot of different financial goals. For some lawyers, it is a seemingly endless source of business as lawsuits proliferate. Click HERE to read the full story via […]
Social Security Funds Will Last Until 2034: CBO
{September 3rd, 2024} by John Manganaro
The main trust funds used to support payments of Social Security retirement benefits are set to run dry in 2034, according to the latest annual funding report published by the Congressional Budget Office. That is one year later than the projection published last year, and it is roughly in line with what the Social Security trustees indicated in […]
“The most innovative companies shaping the future of the industry.”
{September 3rd, 2024} by Sheryl J. Moore
Wink, Inc. is featured as one of Nassau Financial Group Re/Imagine’s “Product Selectors” on their Top 100 Retiretech Companies of 2024. “The most innovative companies shaping the future of the industry.” Pretty cool! Check it out!
Need More Income in Retirement? Buy an Annuity Before Interest Rates Drop.
{September 3rd, 2024} by Neal Templin
If you are thinking of buying an income annuity in the next year or two, now is a good time to pull the trigger. Payouts surged for annuities in late 2022 as the Federal Reserve clamped down on rampant inflation, sending interest rates soaring. Now, as the Fed signals it is ready to begin chopping […]
New York Life VP: Retirement Planning Strategies Vary Across Age Groups
{September 3rd, 2024} by Lori Chordas
OLDWICK, N.J. //BestWire// – Jessica Ruggles, corporate vice president, New York Life, said baby boomers are more likely to have savings than other generations, while younger workers, including Gen Z, are recognizing the importance of early planning. View the video version of this interview here. Read the transcript here.
Best’s News: AM Best Says Life/Annuity Reinsurers Face Growing Competition as Conditions Improve
{September 3rd, 2024} by Caroline Saucer
OLDWICK, N.J. //BestWire// – New research indicates risk-adjusted capitalization for life/annuity reinsurers is expected to remain healthy through 2025, despite risks in investment portfolios and elevated mortality for some, according to Senior Financial Analyst Stephen Vincent in this week’s Best’s News. Click HERE to read the full brief via AM Best
Athene remains king of annuity sales, but others catching up, LIMRA finds
{September 3rd, 2024} by John Hilton
Athene Life & Annuity remained king of the annuity sales mountain during the first half of 2024, but their pursuers are more numerous and closing the gap, LIMRA reports. Athene sold more than $18.7 billion worth of annuities during the period, bettering its 2023 pace, LIMRA announced today. Athene, a wholly owned subsidiary of Apollo […]
SEC asks judge to force Greg Lindberg to explain missing $57 million
{September 3rd, 2024} by John Hilton
The Securities and Exchange Commission (SEC) is asking a North Carolina judge to force embattled financier Greg Lindberg to explain what happened to the $57 million he allegedly siphoned off the insurance companies he once owned. The SEC is suing Lindberg in the U.S. District for the Middle District of North Carolina, claiming he teamed […]
Battle Over New DOL Fiduciary Rule Has Just Begun
{September 3rd, 2024} by Melanie Waddell
The decisions by two federal district courts in Texas to stay the Labor Department’s fiduciary rule and its exemptions are “a very significant set of court decisions,” Brad Campbell, partner at Faegre Drinker in Washington, said on the firm’s recent Inside the Beltway webcast. “But it’s also technically just the first step in a litigation process […]
Best’s Market Segment Report: Life/Annuity Reinsurers Face Growing Competition as Conditions Improve
{September 3rd, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Although higher interest rates and more favorable mortality trends have led to improved conditions for life/annuity reinsurance companies, it also has created more competition, with some backed by alternative investment managers or large private equity firms, according to a new AM Best report. The Best’s Market Segment Report, “Life/Annuity Reinsurers Face Growing Competition as Conditions Improve,” […]
PEAK BOOMER RETIREMENTS MEAN HUNDREDS OF THOUSANDS OF EMPLOYEES ARE LEAVING THE U.S. LABOR FORCE EVERY MONTH
{September 3rd, 2024} by Alliance for Lifetime Income
WASHINGTON, Aug. 27, 2024 /PRNewswire/ — U.S. employers will need to hire on average more than 240,000 people a month for the next five years just to replace jobs being left by those retiring from the workforce, according to a recent study on the economic impact of Peak Baby Boomer retirements. “We are in the early stages […]
TIAA announces strategic partnership with Accenture to accelerate transformation of its retirement recordkeeping
{September 3rd, 2024} by TIAA
NEW YORK, Aug. 27, 2024 /PRNewswire/ — TIAA, the largest U.S. provider of lifetime income, today announced a strategic partnership with Accenture (NYSE: ACN) to accelerate the transformation of TIAA’s retirement recordkeeping capabilities and operations. The agreement capitalizes on the strengths of both organizations to provide next-generation technologies and enhanced recordkeeping to TIAA’s plan sponsor clients and their […]
Unpacking Participant Interest in Guaranteed Lifetime Income: The Executive Interview
{September 3rd, 2024} by ASPPA Net Staff
The 2Q 2024 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America (Allianz) was recently published. The study provides valuable insights into participant demand for in-plan guaranteed lifetime income solutions, such as annuities, highlighting key differences among generations and demographic groups. Ben Thomason, Head of Defined Contribution Distribution at Allianz Life Insurance […]
How much money do you need for an annuity?
{September 3rd, 2024} by Rachel Christian
Annuities are one way to secure a stream of income in retirement. You fund an annuity with a lump sum or a series of payments, and in return, a life insurance company promises to provide you with a stream of payments — either now or in the future — for a set period or for the rest […]
Advisors are key to a positive annuity purchase experience
{September 3rd, 2024} by Ayo Mseka
With annuity demand expected to shatter records again this year, financial professionals should be prepared to discuss annuity options with their clients, especially since a recent survey from Nationwide shows that financial professionals play an important role in helping investors feel confident and have a positive annuity purchase. What is fueling annuity growth? The survey noted that […]
Pick it up, if you want to be inspired by a true believer.
{September 3rd, 2024} by Sheryl J. Moore
When I have a conflict, and cannot make a speaking gig, Tom Hegna is one of the individuals I refer business to. Over the years, he has become a good friend. And after he read my book, I figured that I better return the favor. So… I loved that “Pay Checks and Play Checks” was […]
It is SO disingenuous to make statements like this.
{September 3rd, 2024} by Sheryl J. Moore
WHAT?!? Click HERE for Commission-Free Annuities: A Guide to Understanding and Maximizing Retirement Savings I am SO tired of these guys. This distributor perpetuates so much bad information about annuities! Yeah, yeah- you sold over $2 billion in “no commission” annuities in 2022. We get it. (That is less than 1% of all deferred annuities […]
And already- it’s #4!
{September 3rd, 2024} by Sheryl J. Moore
Americo Financial Life and Annuity’s Instant Decision IUL was launched late in the first quarter of this year. And already- it is the #4 top-selling IUL in the country! Congratulations Todd Adrian and team! -sjm
Investors Race to Lock in Firm Annuity Guarantees
{September 3rd, 2024} by Allison Bell
Investors poured cash into traditional fixed-rate deferred annuities in the first half of the year. Sales of multi-year guaranteed annuities (MYGA) and other traditional fixed-rate deferred annuities increased to $83.7 billion in the first half, up 16% from the total for the first half of 2023, according to new issuer survey data from LIMRA. Overall […]
Annuity sales ignore all disruptions in another strong quarter, Wink finds
{August 27th, 2024} by Staff Reports
Annuity sales paid no heed to regulatory pressure in the second quarter. Sales were not stunted by impending interest rate cuts. Not even the summer doldrums prevented a nearly 4% increase in Q2 sales, Wink, Inc. reported. Sales for all annuities were $109.6 billion when compared to the previous quarter, according to Wink’s Sales & Market Report. […]
Annuities post $109B sales record in Q2 as deferred annuities surge
{August 27th, 2024} by Leo Alamazora
Indexed and structured products logged robust double-digit growth as fixed-rate annuities face challenges from declining rates, says new report. Annuity sales saw modest growth in the second quarter of 2024, rising nearly 4 percent from the previous quarter, according to a new report from market research firm Wink. Click HERE to read the full […]
Nassau Latest to Offer High Premium Bonus on New Fixed-Indexed Annuity
{August 27th, 2024} by Cyril Tuohy
“There is definitely more focus on developing bonus indexed annuities this year,” said Sheryl Moore, CEO of life and annuity market researcher Wink, publisher of Wink’s Sales & Market Report. “The favorable interest rate environment has resulted in many consumers doing rollovers and exchanges into new annuities.” Moore said that a premium bonus is often the best […]
New DALBAR Report Unveils How Variable Annuity Investor Returns Outpaced Average Mutual Fund Investor Returns in 2023
{August 27th, 2024} by DALBAR
MARLBOROUGH, Mass.–(BUSINESS WIRE)–DALBAR, Inc., is pleased to announce the release of its latest edition of the nation’s leading study on investor behavior, Quantitative Analysis of Investor Behavior Variable Annuities (QAIB-VA). The report, an updated version of the highly regarded annual study, provides an in-depth analysis of investor behavior and its impact on returns within variable […]
U.S. Life Application Activity Soars
{August 27th, 2024} by Allison Bell
Older high-net-worth clients might be starting to pay more attention to the estate tax exemption possibly falling from $27.22 million today to about half that on Jan. 1, 2026. For U.S. residents 71 and older, individual life insurance application activity was about 19% higher in July than it was in July 2023, according to MIB. Click HERE to read […]
Solving the Decumulation Dilemma
{August 27th, 2024} by David Blanchett
As the wave of retirees swells, with an average of 11,000 Americans turning 65 each day and an anticipated 30% surge in the senior population by 2030 , the urgency for retirement income solutions intensifies. Amid this demographic shift, managed accounts have also witnessed explosive growth in recent years. Click HERE to read the full story via […]
AM Best Removes From Under Review and Downgrades Credit Ratings of National Western Life Group, Inc. and Most of Its Subsidiaries
{August 27th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has removed from under review with negative implications and downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “a” (Excellent) of National Western Life Insurance Company (NWLIC) (Centennial, CO). Concurrently, AM Best has removed from under review […]
As Generation X Approaches Retirement, Reality Still Bites
{August 27th, 2024} by Hannah Miao
The oldest members of Gen X are turning 60 next year. Many can’t afford to stop working any time soon. Born between 1965 and 1980, Gen Xers launched their careers at the start of a massive shift in how Americans work. Companies moved from pensions that promise steady income after years of service, to plans […]
Powell Says ‘Time Has Come’ for Fed to Cut Interest Rates
{August 27th, 2024} by Amara Omeokwe and Jonnelle Marte
Chairman Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market. “The time has come for policy to adjust,” Powell said Friday in the […]
Gender gap remains wide when it comes to retirement savings
{August 27th, 2024} by Gregg Greenberg
Women still trail men when it comes to financial security by a sizable margin, according to a Prudential survey. Click HERE to read the full story via InvestmentNews Click HERE to view 2024 Pulse of the American Retiree Survey: Midlife Retirement ‘Crisis’ or a 10-Year Opportunity? Wink’s Moore on the Market: When it comes […]
Annuity integration initiative could help advisors build ‘superior client engagement’
{August 27th, 2024} by Rayne Morgan
Financial advisors could soon benefit from simpler integration of annuities in their professional tools if the Insured Retirement Institute is successful in its bid to develop a new digital, standardized infrastructure. IRI’s Digital First for Annuities is an industry-wide annuity integration initiative that aims to introduce a single, consistent source of product data and new […]
Independent distribution: How it’s changing the industry
{August 27th, 2024} by Susan Rupe
As the number of independent advisors has grown, the influence of intermediaries has grown as well. LIMRA’s 2023 U.S. Individual Sales Survey showed that 53% of all life insurance sales were done through the independent channel. Meanwhile, independent marketing organizations and brokerage general agencies have seen their business surge as well. Click HERE to read […]
Will life insurance be the next product to go ‘green’?
{August 27th, 2024} by Susan Rupe
With so much consumer interest in healthy living and sustainability, will the life insurance industry begin to offer “green” life insurance? A panel of researchers gave their views during a recent Society of Insurance Research educational session. Studies have found a link between reduced carbon footprint activity and improved mortality risk, said Matt Berkley, director […]
The insurance industry’s best-kept $5B secret — With TruStage’s Terrance Williams
{August 27th, 2024} by Paul Feldman
The name “TruStage,” said its president and CEO, Terrance Williams, “is meant to represent trust at every life stage. If that’s our brand and what it means to be TruStage, we’ve got to live up to that by ensuring that we are catering to these individual consumers at all their various life stages.” TruStage distributes its products through credit […]
Life and Annuity Distributor Starts Agent Rights Petition
{August 27th, 2024} by Allison Bell
The head of a life and annuity field marketing organization wants to make it easier for agents to switch from one distributor to another. Brett Blake, the chief executive officer of Annuity.com, has started a Change.org petition that calls for FMOs and other distributors, such as independent marketing organizations, to provide agents with contract release forms upon request. Click […]
All States Should Offer Online Life Agent Exams, Industry Groups Say
{August 27th, 2024} by Allison Bell
All states should offer online exams for would-be life All states should offer online exams for would-be life insurance and annuity agents and brokers, to help all kinds of individuals join the industry, insurer and producer groups told state insurance regulators Tuesday. The number of states offering online testing increased to 46 in 2023, from […]
Best’s Market Segment Report: Life/Annuity Reinsurers Face Growing Competition as Conditions Improve
{August 27th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Although higher interest rates and more favorable mortality trends have led to improved conditions for life/annuity reinsurance companies, it also has created more competition, with some backed by alternative investment managers or large private equity firms, according to a new AM Best report. The Best’s Market Segment Report, “Life/Annuity Reinsurers Face Growing Competition as Conditions Improve,” […]
GLWB utilization behavior impacted by SECURE Act, recent Milliman Variable Annuity Industry Experience Studies show
{August 27th, 2024} by Milliman, Inc.
SEATTLE–(BUSINESS WIRE)–Milliman, Inc., a premier global consulting and actuarial firm, today announced the results of its two 2024 Variable Annuity Industry Experience Studies, which analyze policyholder behavior across 22 companies spanning 16 years. The studies cover surrender behavior and partial withdrawals, focusing on income utilization for guaranteed lifetime withdrawal benefit (GLWB) riders. Access to industry […]
The Labor Department won’t let go of the harmful, illegal fiduciary rule
{August 27th, 2024} by Mario H. Lopez
Retirement savings are a constant concern for Americans navigating challenging economic times. Americans desperately need increased access and options for savings and investments. Instead, far too many policymakers are promoting legally dubious policies that are proven failures. Perhaps the best example is the approach taken by Department of Labor bureaucrats, who are dogmatic in their […]
Finseca responds to Washington Post article on fiduciary rule
{August 27th, 2024} by Finseca Flash
Letter to the Editor Submission At this point, one has to believe the Department of Labor (DOL) walls are covered with posters that read, “If at first you don’t succeed, try, try again.” Facts, data, and the law be damned: the DOL is on a mission to purportedly “protect” consumers, after all. Regarding Tony […]
Filling the middle-market life insurance gap in America
{August 27th, 2024} by Kevin Cummer, TruStage
Life insurance is a crucial aspect of financial planning, providing a safety net for individuals and their loved ones. In recent years, the mid-market segment has gained prominence in the life insurance industry, showcasing its scalability potential. The mid-market consumer refers to households or individuals who fall into the $50,000 to $200,000 income bracket. These […]
Wink, Inc. Releases 2nd Quarter, 2024 Annuity Sales Results
{August 23rd, 2024} by Wink's Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE Indexed and Structured Annuity Sales Set Records! Wink, Inc. Releases 2nd Quarter, 2024 Annuity Sales Results Des Moines, Iowa. August 22, 2024– Wink’s Sales & Market Report, the insurance industry’s #1 resource for annuity sales data since 1998, released its 108th edition report […]
Second Quarter 2024 Annuity Sales
{August 23rd, 2024} by Sheryl J. Moore
All Annuity Sales Total 2Q2024 all annuity sales $109,621 million. Second quarter annuity sales were up nearly 4% when compared to the previous quarter. Given that this is the second quarter that Wink has collected data on income annuity sales, additional comparisons will be available in future quarters. Deferred Annuity Sales Total 2Q2024 deferred […]
Annuity Sales % change
{August 23rd, 2024} by Sheryl J. Moore
Annuity sales for 2Q2024 Line of Business: Sales- % Chng/Qtr and % Chng/Last Yr ALL ANNUITIES: $109.62 B- 3.71% and N/A (just began tracking SPIAs/DIAs) – All Deferred Annuities: $104.66 B- 4.11% and 31.26% — Non-Variable Deferred Annuities: $73.68 B- 0.34% and 31.27% — Multi-Year Guaranteed Annuities: $41.03 B- -6.27% and 34.71% — Fixed Annuities […]
The Standard webinar with Sheryl Moore
{August 23rd, 2024} by The Standard
Sheryl J. Moore will join Paul Garofoli of The Standard to talk about her firsthand experience using indexed annuities to save for retirement.
Traditional Variable Annuities Join the Sales Party
{August 23rd, 2024} by Allison Bell
Demand for annuities was so strong in the second quarter that sales of traditional variable annuities climbed to $16.5 billion, up 20% from the total recorded in the second quarter of 2023, according to new issuer survey data from Wink. [Structured (aka RILA)] annuities were the annuities with the strongest second-quarter performance: Their sales increased […]
Annuities post $109B sales record in Q2 as deferred annuities surge
{August 23rd, 2024} by Leo Alamazora
Indexed and structured products logged robust double-digit growth as fixed-rate annuities face challenges from declining rates, says new report. Click HERE to read the full story via InvestmentNews
Here’s When Many Americans ‘Really’ Plan to Retire
{August 23rd, 2024} by John Manganaro
Nearly half of consumers (47%) polled by Equitable believe it is unrealistic for them to retire before or at the traditional retirement age of 65. Instead, the survey results show they expect to retire nearly a decade later, at an average age of 74. This is despite only 18% of workers saying that they want […]
Prudential Financial launches Momentum IUL, a new life insurance product with power to adapt to life’s changes
{August 23rd, 2024} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc., has launched Prudential Momentum IUL℠, a new indexed universal life product issued by Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey (in NY) that provides the financial resiliency in growth and protection that customers need to withstand changing life events. “Prudential is committed to providing our customers […]
Episode 2 Annuities & More with Sheryl Moore
{August 23rd, 2024} by CBS Brokerage
Annuities are back in the spotlight as we approach the September Federal Reserve decision on interest rates. Sheryl J. Moore, CEO of Wink, Inc.. and Moore Market Intelligence, recently joined our CBS Spotlight podcast and spoke with our hosts Michael Kohrmann, CLTC® and Eric Alvarado about the annuities space. This is a must-listen episode for […]
Interviewing Top Expert, Sheryl J. Moore
{August 23rd, 2024} by Brad Pistole
Have you read Sheryl J. Moore’s new book, “Why I Bought Indexed Annuities?” It’s a MUST read! Watch this interview with the ANNUITY GURU and order your copies today! Sheryl Moore, author of ‘Why I Bought Indexed Annuities’, discusses the benefits and misconceptions surrounding indexed annuities. She explains that indexed annuities guarantee a monthly paycheck […]
Retirees Should Run Away From These So-Called ‘Investments’
{August 23rd, 2024} by Austin Smith
Lee and Doug discuss the pros and cons of annuities, particularly as a financial product targeted at retirees. They note that while annuities offer a degree of safety, being insurance products with state and corporate guarantees, they often come with high fees and commissions, making them more beneficial for the broker than the investor. They […]
More Annuity Owners Are Buying Their Contracts From Issuers
{August 23rd, 2024} by Allison Bell
For financial planners and life insurance agents, more competition in the annuity sales market may be coming from the insurers writing the annuities. A research team working for Nationwide Annuity maps annuity shopping paths in a new summary of results from a survey of 300 U.S. planner or advisor clients who own individual annuities. Click HERE […]
I don’t say it often, but this is truly innovative
{August 23rd, 2024} by Sheryl J. Moore
So pleased to see that my buddy Bruce Donaldson and the tremendous crew at Simplicity Group have exclusive access to an indexed annuity now! I don’t get to say this often, but this annuity has a TRULY INNOVATIVE indexed crediting mechanism in their “Gain Control Option.” Interested? Check it out at Wink, Inc.’s AnnuitySpecs tool. -sjm
AuguStar rounds out product lineup with new IUL
{August 23rd, 2024} by John Hilton
AuguStar Life continues to round out its product lineup with a new indexed universal life offering. AuguStar launched Virtus Protection Indexed Universal Life Insurance earlier this month. The insurer is marketing the product as “protection-forward coverage with accumulation potential.” AuguStar Life and AuguStar Retirement are Constellation Insurance companies. Click HERE to read the full story […]
Next president might control fate of DOL fiduciary rule, analysts say
{August 23rd, 2024} by John Hilton
The race for the White House is heating up, with Donald Trump and Kamala Harris trading soundbites on hot-button issues from immigration to taxes to the economy in general. Another issue that likely won’t make any of the seemingly endless hours of political commercials to come before Nov. 5, but an issue whose fate likely […]
Lawsuit revived for man who lost $16M in life policies on a missed payment
{August 23rd, 2024} by John Hilton
A federal appeals court gave a partial win to a Connecticut man claiming that AXA Equitable allowed his life insurance policies to lapse without any payment reminder. The Court of Appeals for the Second Circuit affirmed summary judgment for AXA on its decision to terminate the policies sold to Malcolm Wiener. But the court sided with Wiener […]
Execs, regulators debate merits of illustration rules, areas that need work
{August 23rd, 2024} by John Hilton
Insurance companies and consumer advocates have wildly different opinions on the efficacy of illustrations used to sell life insurance and annuities. A state regulator group sought to understand those differences last week during the National Association of Insurance Commissioner’s summer meeting in Chicago. The Life Insurance and Annuities Committee hosted a panel discussion on illustrations […]
Prudential Financial to Reinsure $11B Guaranteed Universal Life Block with Wilton Re
{August 23rd, 2024} by Prudential Financial, Inc.
NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) announced today an agreement to reinsure a portion of its guaranteed universal life block with Wilton Re, resulting in approximately $350 million of expected proceeds, post-closing. Under the terms of the agreement, Wilton Re will reinsure approximately $11 billion of reserves backing Prudential’s guaranteed universal life policies issued […]
Delaware Life Accelerator Prime® Variable Annuity Named to Barron’s 2024 List of Top 100 Annuities for Fifth Consecutive Year
{August 23rd, 2024} by Delaware Life Insurance Company
ZIONSVILLE, Ind.–(BUSINESS WIRE)–Delaware Life Insurance Company, a Group 1001 company, announces its inclusion in the annual Barron’s list of “Top 100 Best Annuities.” This is the fifth consecutive year that Barron’s has ranked Delaware Life Insurance Company annuities in the top 100. Delaware Life Accelerator Prime® Variable Annuity was recognized as a top 100 annuity in the categories of Single Life […]
Global Atlantic Featured in Barron’s 100 Best Annuities Guide in Four Categories
{August 23rd, 2024} by Global Atlantic Financial Group
HARTFORD, Conn.–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, announced its inclusion in Barron’s annual guide to the 100 Best Annuities, marking the firm’s third consecutive appearance on this list. Annuities issued by Global Atlantic subsidiary Forethought Life Insurance Company were recognized […]
Many Americans Know the Basics of Life Insurance, Yet Nearly 60% Either Don’t Have Coverage or Are Unsure If They Do
{August 23rd, 2024} by Corebridge Financial
HOUSTON–(BUSINESS WIRE)–According to new research from Corebridge Financial, many Americans have a good understanding of key life insurance principles, yet nearly 6 in 10 either do not have coverage (50%) or do not know if they do (9%). Misunderstandings around cost could help explain this life insurance coverage gap. While 8 in 10 (80%) Americans […]
Life Insurance and Annuities on the 2024 Rollercoaster
{August 23rd, 2024} by Pat O'Donnell
It is no exaggeration to say that, in the life and annuities market, brokerage general agencies, advisors, broker-dealers, carriers, and fund companies have never had to do business in such an inscrutable economic environment as 2024. A sustained era of low interest rates is now a distant memory as the global economy scratches back from […]
JPMorgan Jumps Into 401(k) Annuity Market
{August 23rd, 2024} by Allison Bell
J.P. Morgan Asset Management has joined the rush to package annuitization options with the target-date funds offered inside 401(k) plans. The asset manager last week unveiled the SmartRetirement Lifetime Income program, The JPMorgan program is likely to include annuitization options from Equitable and Prudential, the company said. What it means: Another asset giant is throwing its […]
Former Pruco Rep Barred By Finra Over Forgeries, Annuity Sales
{August 23rd, 2024} by Edward Hayes
Finra has barred a former product representative for Pruco Securities, an affiliate of Newark, N.J.-based Prudential, for alleged securities violations including forging customer signatures and putting clients into unsuitable annuity investments. Christopher Reynolds, who settled the charged in a consent agreeent with the regulator, worked as an investment company and variable contract products representative through an […]
Retirees Should Run Away From These So Called ‘Investments’
{August 23rd, 2024} by 24/7 Wall St
Lee and Doug discuss the pros and cons of annuities, particularly as a financial product targeted at retirees. They note that while annuities offer a degree of safety, being insurance products with state and corporate guarantees, they often come with high fees and commissions, making them more beneficial for the broker than the investor. Click […]
NFL Owners, Leaders to Meet on Private Equity Stakes in Teams
{August 23rd, 2024} by Randall Williams
The National Football League plans to meet in Minneapolis on Aug. 27 to discuss and potentially vote on allowing institutional investors to buy into teams. The league held meetings with multiple private equity firms this week in the hopes of completing a framework to present to owners, people with knowledge of the matter said. Click […]
Building Your Own Annuities Could Be Easier Than You Think. Here’s How
{August 23rd, 2024} by Mark P. Cussen
Life insurance companies have long offered American investors the promise of lifetime income from annuity contracts. The first annuity contracts were relatively simple instruments that paid a fixed interest rate and then paid out a guaranteed stream of income that the beneficiary could not outlive. Click HERE to read the full story via Investopedia Wink’s Moore on […]
Northwestern Mutual Leads Industry with Most Certified Financial Planners in Prominent New Ranking
{August 23rd, 2024} by Northwestern Mutual
MILWAUKEE, Aug. 14, 2024 /PRNewswire/ — Northwestern Mutual leads the financial services industry with the most CERTIFIED FINANCIAL PLANNER™ professionals, according to a new ranking announced by Financial Planning. This is the second consecutive year in which Northwestern Mutual led the list of Independent Broker-Dealers with advisors who have earned the CFP® designation. Among the firms ranked, Northwestern Mutual’s total […]
Midland National and North American Announce New IULs
{August 14th, 2024} by Sammons Financial Group, Inc
e WEST DES MOINES, Iowa–(BUSINESS WIRE)–Midland National® Life Insurance Company and North American Company for Life and Health Insurance®, member companies of Sammons® Financial Group, Inc., are proud to unveil their enhanced Indexed Universal Life (IUL) products. Midland National announces Strategic Accumulator® IUL 3, and North American announces Builder Plus IUL® 4. These highly competitive, next generation products […]
AuguStar Life expands IUL line with new protection-forward product
{August 14th, 2024} by AuguStar Life
CINCINNATI, Aug. 7, 2024 /PRNewswire/ — AuguStarSM Life, a Constellation company, announces the launch of Virtus Protection Indexed Universal Life Insurance, strengthening its lineup of indexed life insurance products. Karl Kreunen, AuguStar Life vice president and chief distribution officer, traditional channel, emphasizes the benefits of the latest AuguStar Life indexed product, “Virtus Protection IUL represents AuguStar’s ongoing […]
Nassau Financial Group Launches Nassau Bonus Annuity Plus
{August 14th, 2024} by Nassau
HARTFORD, Conn.–(BUSINESS WIRE)–Nassau Financial Group (“Nassau”) today introduced Nassau Bonus Annuity PlusSM, a bonus fixed indexed annuity designed to give people confidence that they can reach their retirement goals. “The launch of Nassau Bonus Annuity Plus further expands our fixed annuities product suite, as we look to provide new and innovative fixed annuity products to […]
