CORRECTING and REPLACING Reliance Standard Acquires Standard Security Life Insurance of New York
{January 4th, 2022} by Reliance Standard Life Insurance Company
PHILADELPHIA–(BUSINESS WIRE)–Please replace the release with the following corrected version due to multiple revisions. The updated release reads: RELIANCE STANDARD ACQUIRES STANDARD SECURITY LIFE INSURANCE OF NEW YORK Expands to become leading New York statutory disability insurer As announced in April, Reliance Standard Life Insurance Company (Reliance Standard), a member of the Tokio Marine Group, […]
T. Rowe Price Completes $4.2B Acquisition Of New York Investment Firm
{January 4th, 2022} by Baltimore Sun (MD)
T. Rowe Price Group has completed its planned acquisition of New York-based Oak Hill Advisors for $4.2 billion, making its first big expansion into private markets as it looks to grow beyond its better-known mutual fund retirement business. The Baltimore-based money management firm said Wednesday it acquired 100% of the equity of Oak Hill, an […]
Allianz Life Insurance Company of North America 2022 Carrier Forecast
{January 4th, 2022} by Jason Wellmann
Today’s world is completely on-demand. We can have any type of food delivered to our door in 30 minutes or paper towels on your front steps within two hours. And this expectation for getting things on demand, fast and efficiently, is no different when it comes to something as complex as life insurance underwriting. Click […]
Mutual of Omaha 2022 Carrier Forecast
{January 4th, 2022} by Tess Grace and Randy Mousel
It’s often said challenges reveal character. At Mutual of Omaha, our customer-centric purpose and talented associates have enabled our company to continue navigating one of the most challenging periods in our 112-year history. Despite the ongoing presence of the COVID-19 pandemic, we continue to stand strong, helping our customers stay in their homes, keep their […]
Mutual Trust Life Insurance Company 2022 Carrier Forecast
{January 4th, 2022} by Luke Cosme
At this time last year, I did not have “redesign your entire product portfolio for the second time in three years” on my 2021 bingo card. However, as the year began and the changes to IRC 7702 came to light, plans changed and we all set out, excited to see what the future held for […]
Ohio National 2022 Carrier Forecast
{January 4th, 2022} by Barbara A. Turner
In November 2020, I wrote that 2020 was a year that no one saw coming. We had experienced a global pandemic, continued low interest rates and increased market volatility. Many believed that things had to improve for 2021, that the pandemic would wind down, and the new year would bring great things to our industry […]
What If
{January 4th, 2022} by David J. Murphy
The financial services industry is often focused on helping people to both get more and keep more. Our mission is aligned with helping people achieve their dreams. We also help people prove their love by providing for, and protecting, their families. What if we all improved our ability to help people prove their love by giving more? Click […]
Top 10 Annuity Stories Of 2021
{January 4th, 2022} by John Hilton
2. The 2021 State of Annuities Our June 2021 cover story in the magazine was also a popular read on the website. This state-of-annuities story looked at the pressures on the industry from a variety of sources. After all, the pandemic brought a double-barrel shot of pain to the annuity industry in 2020. In addition to […]
New Lifetime Annuities in 401(k) Plans Could Cut Advisors Out of the Picture
{January 4th, 2022} by Lewis Braham
One of the primary reasons many retirees seek out financial advice is to convert their savings into a steady stream of income that can support their current lifestyles for the rest of their days. That’s why, to some advisors, the news this November that State Street Global Advisors launched a deferred lifetime income annuity within the University […]
Ric Edelman Reveals His 22 Predictions for 2022
{January 4th, 2022} by DACFP
GREAT FALLS, Va.–(BUSINESS WIRE)–Ric Edelman, one of the most prominent thought leaders in the investment advisory field and founder of the Digital Assets Council of Financial Professionals, has revealed his 22 Predictions for 2022. “DACFP is committed to educating financial advisors about blockchain and digital assets, and helping them understand where this new asset class is headed […]
Best books for financial advisors in 2021
{January 4th, 2022} by Brian Wallheimer
Financial planning and advising requires a wide range of skills, from technical and investment knowledge to business management and people skills. We asked advisors what books, read in 2021, made the most impact for them professionally. Answers included books on money management, to those on psychology, goal-setting and philosophy. Scroll through to see what inspired […]
Meme madness, 68 new S&P highs in superlative 2021
{January 4th, 2022} by Matt Turner
Superlatives followed one after another in 2021’s wild ride for U.S. stock investors. The most all-time highs in 26 years. Triple-digit rallies in some small caps thanks to retail-trader frenzies. A $1 trillion rout after China cracked down on some of its biggest companies. In a year marked by a waning pandemic, new COVID-19 variants, supply chain […]
Now Is the Time to Forge a New Social Contract and Future-Proof Retirement
{January 4th, 2022} by Transamerica Center for Retirement Studies
LOS ANGELES, Dec. 16, 2021 /PRNewswire/ — Almost four in 10 people globally are concerned about running out of money in retirement (38 percent global, 39 percent U.S.), according to a report released today. The New Social Contract: Future-Proofing Retirement explores the impacts of the COVID-19 pandemic and offers detailed recommendations for improving retirement security. The report is based […]
Market Volatility Caused By Pandemic Expands Interest In Annuities
{January 4th, 2022} by WTVR- TV (Richmond VA(
Fidelity Investments recently introduced a new Guaranteed Income Direct platform that companies can offer to employees. The annuity stays within the company, allowing savers to take the money in their 401k and turn it into monthly payments for life, no matter what happens to the market. “It is basically transferring those assets over to the […]
ACLI: Pennsylvania Passes Annuity Sales Rules
{January 4th, 2022} by Targeted News Service
Legislation signed recently by Pennsylvania Governor Tom Wolf enhances protections for consumers seeking lifetime income from annuities. Pennsylvania is the 19th state to adopt a measure that implements the “best interest of consumer enhancements” in the National Association of Insurance Commissioners (NAIC) Suitability in Annuity Transactions Model Regulation. The new laws and regulations also align […]
What’s On The Minds Of Global Life Insurance Executives? A Lot!
{January 4th, 2022} by Kristen Gillis
Technology was clearly the standout challenge among insurers in 2021 as COVID-19 pushed digital distribution adoption as the way to achieve sales success. Low interest rates, excess mortality and regulation are also high on the list of what executives are focusing toward in this time of risk and uncertainty. Going forward, the pandemic may stand […]
Indiana life insurance CEO says deaths are up 40% among people ages 18-64
{January 4th, 2022} by Margaret Menge
(The Center Square) – The head of Indianapolis-based insurance company OneAmerica said the death rate is up a stunning 40% from pre-pandemic levels among working-age people. “We are seeing, right now, the highest death rates we have seen in the history of this business – not just at OneAmerica,” the company’s CEO Scott Davison said […]
Bob Doll’s predictions for 2022
{January 4th, 2022} by Brittney Grimes
Bob Doll, chief investment officer at Crossmark Global Investments, has released his 2022 predictions for the finance industry, ranging from good earnings to rising inflation and interest rates. Click HERE to read the full story via InvestmentNews
10 Women in Fintech You Should Know About in 2022
{January 4th, 2022} by Vrinda Johnson
Only 12% of global FinTech founders and co-founders are women, and only 6% of FinTechs have female CEOs. Not only are these numbers alarmingly low, but they are jarring given that funding for women-founded startups grows twice as fast as that for men. While the small percentage of women in FinTech is a constant topic […]
Wink’s analysis tools are a VERY cost-effective product management solution for your team.
{January 4th, 2022} by Wink's Intel Pros
We are known for our reliability and service; it definitely sets us apart from the competition! AND, we love our subscribers! Ok, hang on, there’s a lot to read in this next section. Wink’s differentiators from competitors are: Wink’s analysis tools are a VERY cost-effective product management solution for your team. Our support team’s home […]
It’s a New Year!
{December 28th, 2021} by Wink's Intel Pros
The Wink offices will be closed on Friday, December 31st to ring in the New Year. We thank all of you for using Wink’s services and we look forward to another year with you!
AnnuitySpecs User Message: Annuity Plan Types
{December 28th, 2021} by Wink's Intel Pros
Remember that one time your boss asked you which companies allow NQ Stretch plans? What about that incident where you had to identify which companies offered inherited IRAs? Worry no more! Wink has you covered! You can now easily see (on the specifications) and search for (in Product Search, Advanced Search Options), which annuity plan […]
Wither on a vine?
{December 28th, 2021} by Sheryl J. Moore
Did you know that 435,111 indexed annuities were issued in 2020 alone? And did you know that total indexed annuity premiums received from 1995 through 2020 are $754,169,559,459? Indexed annuities now account for nearly a third of all deferred annuity sales. Not bad for a product that my former partner said would “wither on the […]
Will All Annuity Issuers Move to Bermuda?
{December 28th, 2021} by Allison Bell
Many Americans who are planning for retirement would love to live in Bermuda, and so would many of the life insurers that provide their annuities. This raises a critical question that has helped shape annuity issuer coverage this year and will continue to shape issuer coverage in 2022: Will all of the publicly traded U.S. […]
AM Best Affirms Credit Ratings of Nationwide Mutual Insurance Company and Its Key Operating Subsidiaries
{December 28th, 2021} 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 Rating (Long-Term ICR) of “aa-” (Superior) of the members of Nationwide Group (Nationwide). Concurrently, AM Best has affirmed the FSR of A+ (Superior) and Long-Term ICR of “aa-” (Superior) of Nationwide Life Insurance Company and its subsidiaries, […]
Chubb and Wharton Study Examines Ultra-High-Net-Worth Individuals’ Preferences on Financial Advising and Investment Management
{December 28th, 2021} by Chubb
WHITEHOUSE STATION, N.J., Dec. 21, 2021 /PRNewswire/ — Chubb and The Wharton School of the University of Pennsylvania have released a new research report that examines differences in how wealth managers and ultra-high-net-worth (UHNW) individuals evaluate assets and coordinate risk management activities. The study, which included a survey of 100 UHNW investors, family office members, and key financial decision […]
Lincoln Financial Group Named to Dow Jones Sustainability Index for Sixth Consecutive Year
{December 28th, 2021} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) today announced that the company has been named to the prestigious Dow Jones Sustainability Index (DJSI) North America for the sixth consecutive year. This index recognizes companies that demonstrate leadership in environmental, social and governance (ESG) performance, and signifies Lincoln Financial’s continued commitment to corporate responsibility and sustainability. “At Lincoln, integrity, optimism […]
Insurance Is Overdue For Digital Transformation
{December 28th, 2021} by Jan Beranek
Simplicity can be a gold mine for insurers. Conditioned by excellent customer experiences in more forward-thinking verticals, consumers want insurance products they can easily understand, buy and use. Disruptive insurtechs and innovative incumbents that can harness the technology required to satisfy this demand are raking in huge revenues, and will continue to do so in […]
Top 10 Annuity Stories Of 2021: InsuranceNewsNet
{December 28th, 2021} by John Hilton
Annuities went through a difficult year in 2020 and it was reflected in the news coverage. The pandemic effects, combined with the persistent low-interest-rate environment and ever-changing regulatory landscape, made annuity sales a difficult proposition for many. The good news is the need remained strong among Americans who received a lesson in the value of […]
Inflation Seen As Biggest Risk To Americans’ Retirement Plans In 2022
{December 28th, 2021} by Ayo Mseka
Although Americans say they worried the most about the COVID-19 pandemic in 2021, rising inflation is now seen as the biggest risk to their retirement plans. This is according to the annual New Year’s Resolutions Study conducted by Allianz Life Insurance Company of North America (Allianz Life). Nearly half (48%) of respondents identified the pandemic […]
Thrivent’s Carolyn Armitage: The Resolution Advisors Should Make for 2022
{December 28th, 2021} by Jeff Berman
As head of Thrivent Advisor Network (or TAN) since June, Carolyn Armitage’s wide experience in the wealth management industry is providing Thrivent’s new independent RIA with strategic guidance that will enable the next phase of its development. Before joining TAN, Armitage served as managing director at an investment bank and consulting firm Echelon Partners, starting […]
Alva Lee Struthers Discussed the Implications of Physical Traits: 100 Years Ago in Insurance
{December 28th, 2021} by The National Underwriter Life Insurance Edition Staff
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. Seattle—The December meeting of the Seattle Association was featured by a scientific treatise of salesmanship by Alva Lee Struthers, a vocational expert from Vancouver, B.C. The speaker analyzed the selling process and made clear that there […]
Our New Year’s Creed: 100 Years Ago in Insurance
{December 28th, 2021} by Darby A. Day
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. We desire to radiate Prosperity, Courage and without We desire to Cheerfulness, Sincerity, Good Will. We wish to live hate, whim, jealousy, envy or fear. We wish to be simple, honest, natural, frank, clean in mind […]
Federal Crash Spotters Eye Life Insurers’ ‘Reach for Yield’
{December 28th, 2021} by Allison Bell
The federal government’s financial crash spotters seem to be worrying less about the possible effects of COVID-19 deaths on U.S. life insurers and more about the possible effects of low interest rates. The Financial Stability Oversight Council put a half-page section on life and annuity issuers in its 2021 annual report. Click HERE to read […]
COVID-19 Really Has Powered Up Life Sales: Idea File
{December 28th, 2021} by Allison Bell
Jake Tamarkin, the founder of Everyday Life, an online life insurance selection system, says the conventional wisdom is true: The COVID-19 pandemic really has had a big, obvious effect on consumers’ interest in life insurance. Tamarkin started out by getting a bachelor’s degree from the Berklee College of Music, then a master’s degree in business […]
Service Not Fully Understood: 100 Years Ago in Insurance
{December 28th, 2021} by The Editors of The National Underwriter Life Insurance Edition
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. If more people in high places just understood life insurance better they would get back of life agents even more strongly than they do now. It is the desire of nearly every leader, whether he be […]
Pushing Thrift Week; Life Insurance Prominent: 100 Years Ago in Insurance
{December 28th, 2021} by The National Underwriter Life Insurance Edition Staff
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. In the “National Thrift Week” to be observed Jan. 17-23, life insurance is given a prominent place, the third day of the campaign being “Life Insurance Day.” This movement is fostered by the Y.M.C.A. in cooperation […]
Sailstad Case Update: 100 Years Ago in Insurance
{December 28th, 2021} by The National Underwriter Life Insurance Edition Staff
Here is an article that appeared in the Dec. 29, 1921, issue of The National Underwriter Life Insurance Edition. Interest has again been aroused in underwriting circles in the case of E.J. Sailstad, president of the Multitone Manufacturing Co., Eau Claire, Wis., who was supposed to have burned to death at Lake Nebagamon, Wis., in […]
Guardian Posts 2022 Dividend Rate
{December 28th, 2021} by Allison Bell
The Guardian Life Insurance Co. and TIAA have announced rates for extra 2022 payouts. Guardian says it will base dividends for eligible individual life insurance policyholders on a dividend interest rate of 5.6%. Click HERE to read the full story via ThinkAdvisor
We Need the AIs: Paul Chong
{December 28th, 2021} by Allison Bell
Paul Chong could help hundreds of thousands of Americans live well in retirement. Chong is senior vice president of retirement plan services at CUNA Mutual, a policyholder-owned insurer based in Madison, Wisconsin. CUNA Mutual works with retirement plans that serve about 300,000 employees and have a total of $20 billion in retirement plan assets. Click […]
The 4% Rule Is Dead. What’s an Advisor to Do?
{December 28th, 2021} by Michael Finke
A new Morningstar report has resurrected debate about the safety of the 4% withdrawal rate in a world of low bond yields and high stock valuations. Plugging more realistic portfolio returns into a Monte Carlo simulator reduces the safe withdrawal rate (10% failure) to 3.3%. The report makes the very important point that fixed withdrawal rates aren’t really […]
Why Fixed Annuities?
{December 28th, 2021} by Paul Garofoli
Clients who have attempted their own research on individual annuities may have encountered conflicting and sometimes negative information. With so much confusion surrounding annuities and the contrasts between differing types, it can be difficult to help clients understand whether they are the right addition to their retirement portfolio. However, with a little context and explanation, […]
MDRT Survey Shows More Focus on Understanding Finances
{December 28th, 2021} by Charles K. Hirsch, CLU
MDRT Survey Shows More Focus on Understanding Finances YouGov conducted a recent study of more than 3,000 United States adults, with an eye to gauging their economic outlook since the COVID‐19 pandemic has forced so many people into a position of re-examining their financial situations and better understanding the decisions they’ve made and better strengthening […]
Are Polices Making Annuity Issuers Leave the Country?
{December 28th, 2021} by FINSUM
The Biden administration has put a number of new policies that are affecting annuities, and while some of them may be unintentional a number of companies may be moving to offshore havens to escape the pressure. Annuity issuers are being acquired by private companies and then becoming nomadic firms that are mainly housing themselves in […]
Outlook For Life Insurance Shoppers In 2022
{December 28th, 2021} by Amy Danise
Life insurance buyers kept insurers busy in 2021. A sales growth record was set in quarter two and then again in quarter three to levels not seen since 2007, according to LIMRA, an industry-funded financial services research company. Life insurance sales growth increased 18% during the first three quarters of 2021, and all types of […]
Reinstating ‘fiduciary rule’ would hurt underserved communities: Opinion
{December 28th, 2021} by Mario H. Lopez, Opinion Contributor
As a first-generation American who grew up in a low-income neighborhood, I know the challenges that working families face in building a solid financial future for themselves. So, when the federal government moves to impose rules that could hurt the ability of many Americans to save for their retirement, it is particularly dismaying. Click HERE […]
Best of Barron’s Retirement: Annuities in Your 401(k), the ‘4% Rule’, and Retiring on Dividends
{December 28th, 2021} by Neal Templin
Retirement is a lot more complicated than it used to be. The popularity of 401(k) savings plans has turned millions of Americans into their own pension plan managers. Retirees must find suitable investments in an era of record-low rates and frothy markets. They must spend down their assets in a tax-efficient manner. And of this […]
A Conversation with Lee Freitag
{December 28th, 2021} by P.E. Kelly
Longevity has thrown a monkey-wrench into many of our assumptions about building adequate and sustainable income for clients. The prospect of outliving one’s assets, running out of money before running out of breath, has become a frightening possibility for many. Moreover, the plans we utilize to help build sustainable portfolios, starting with a once reliable […]
#PSA Third-Party Neutral
{December 21st, 2021} by Sheryl J. Moore
I do not endorse any company or product. -sjm
May your Christmas be full of light!
{December 21st, 2021} by Wink's Intel Pros
“When they saw the star, they were filled with joy!” Merry Christmas and Happy New Year! The Wink, Inc. offices will be closed on December 23rd and 24th to celebrate the holiday with our families. We will also be closed on December 31st to ring in the new year. The Wink, Inc. family […]
Capped vs. Uncapped Indexed Annuity Strategies
{December 21st, 2021} by Allison Bell
Some financial professionals may eat, drink and breathe annuity contract provisions. They know everything about every annuity contract feature since the Egyptians developed hieroglyphics. Some other people in and around the world of annuities, such as new agents, or people in support services roles, may just be trying to keep their heads down and not […]
How Does Life Insurance Work for Smokers?
{December 21st, 2021} by iQuanti
NEW YORK, December 17, 2021 (Newswire.com) – iQuanti: Obtaining life insurance as a smoker is possible, but it can take a little bit more time to understand your options because of the increased risks. By doing your research and comparing choices, you’ll be able to find the right life insurance plan for you and your loved […]
The Pros and Cons of Term and Whole Life Insurance
{December 21st, 2021} by iQuanti
NEW YORK, December 17, 2021 (Newswire.com) – iQuanti: Purchasing life insurance is a vital step you can take to ensure your family and loved ones’ financial security. As you learn more about life insurance, you’ll find that one of the most important decisions you’ll make in the process is whether to opt for term or whole life coverage. A term […]
Should Your Client Buy a RILA?
{December 21st, 2021} by Rod Mims
As your clients near retirement, protecting their money from potential losses due to an uncertain market environment is understandably a priority. But for some investors, the cost of gaining protection from market risk may not be worth the benefit. If you have clients in this situation, you may want to discuss a registered index-linked annuity […]
Rising Interest Rates Could Help Me: Nationwide Annuity Exec
{December 21st, 2021} by Allison Bell
Eric Henderson, the president of Nationwide’s annuity unit, is one of the people in charge of private-sector efforts to help people save for their own retirement. He oversees a business that manages about $100 billion in annuity assets for hundreds of thousands of retail annuity holders. Eric Henderson, the president of Nationwide’s annuity unit, is […]
COVID-19 Hammered Annuity Issuers Last Year: ACLI Data
{December 21st, 2021} by Allison Bell
The American Council of Life Insurers’ new Life Insurers Fact Book 2021 tells the story of just how hard the COVID-19 pandemic hit life, health and annuity issuers in 2020. Life premiums fell 5.5% from the 2019 total, to $148 billion, and health insurance premiums decreased 0.9%, to $186 billion. Meanwhile, as the 70 million […]
Fidelity Life: Can Smokers Get Life Insurance?
{December 21st, 2021} by Fidelity Life
CHICAGO, Dec. 17, 2021 (GLOBE NEWSWIRE) — People who smoke may not have appropriate life insurance policies in place because they think they’re not eligible. But the good news is tobacco users may be able to get life insurance, just at higher rates. So for those who smoke or love someone who does, here’s what […]
Best’s Special Report: Notional Value of U.S. Insurance Industry Derivatives Exceeds $3 Trillion
{December 21st, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–The notional value of insurance industry derivatives, held predominantly by life/annuity insurers, has risen by 45% over the past five years and topped $3.3 trillion in 2020, according to a new AM Best special report. In the Best’s Special Report, “Notional Value of Derivatives Exceeds $3 Trillion,” AM Best states that despite the increase in notional […]
What To Know About Early IRA Withdrawals
{December 21st, 2021} by The Lowell Ledger (MI)
While you’re working, you may be contributing to an individual retirement account (IRA), which can provide a tax-advantaged way to save for your future. So, is it ever a good idea to tap into your IRA before you retire? Ideally, you should leave this account intact until your retirement. After all, you could spend two […]
TIAA Traditional Payout Increases 5% for 2022
{December 21st, 2021} by TIAA
NEW YORK, December 16, 2021 – Beginning in January 2022, lifetime income payments to holders of the TIAA Traditional fixed annuity1 who opted to annuitize in retirement will increase by 5%, the largest boost in 40 years. The additional payout of $180 million to clients of the company’s flagship offering will bring the total income paid to […]
Demand For Individual Life Insurance Is At A Record High
{December 21st, 2021} by INNsider Pro
Data from the National Federation of Private Pension and Life show that the collection of premiums by insurers in the segment was R$ 8 billion from January to September, 29% above the same period in 2020.. “There was also growth, but smaller,” reinforces Nelson Emiliano Costa, of FenaPrevi. Click HERE to read the full story […]
No Sign Of M&A Activity Slowing Down, NAILBA CEO Says
{December 21st, 2021} by Doug Bailey
Despite a raging pandemic, supply chain disruptions and labor shortages, merger and acquisition deals for most insurance sectors have increased in the last 12 months. Or perhaps the pace has quickened because of those negative factors roiling the businesses. Either way, say industry experts, disruptive impacts have been far less substantial for insurance than for […]
Benefits and retirement newsmakers: American Sustainable Business Network, Babyscripts, Carillon Tower Advisers
{December 21st, 2021} by C.J. Marwitz
From partnerships to new hires, to acquisitions and awards, the employee benefits industry has been busy this fall. Here are a few of the latest announcements to keep you updated. Wink, Inc. announced Victoria L. Grossman has been named the President of Wink, Inc. Sheryl J. Moore, who has been CEO and President of Wink since she founded […]
Insurers fret about meeting ‘return targets’: Cerulli
{December 21st, 2021} by Editorial Staff
‘Eighty-one percent of insurers are concerned about meeting return targets given the low interest rates,’ Cerulli’s latest products report said. It also documented heavy outflows from low-volatility ETFs. Click HERE to read the full story via RIJ
Breaking News: Retirement Income Journal
{December 21st, 2021} by Editorial Staff
Retirement Income Journal takes a holiday break; Great American offers fixed multi-year guaranteed rate annuity for RIAs; Lincoln’s 401(k) adds Income America 5For Life; Jackson buys back 2.2 million shares of common stock, promotes Romine and Reed; SEC proposes more disclosure of stock buybacks; US life/annuity sector now ‘stable’: AM Best; Athene Holding invests in […]
The Santa Index 2021: Valuable jobs help to raise Santa’s salary by 6%
{December 21st, 2021} by Jennifer Shelton. Reviewed by Les Masterson
This time each year, when the days get colder and we spend quiet nights at home around the fireplace with family, the team at Insure.com starts to get all excited thinking about the holiday season. And while a steaming hot toddy or Michael Bublé’s version of “White Christmas” goes a long way toward getting us […]
How Millionaires Can Potentially Save A Lot In Taxes And How To Help Protect The Assets You Leave Your Family And Help Keep Them In Your Family Bloodline Long After You’re Gone
{December 21st, 2021} by Craig Kirsner
Be sure you’re not paying too much in fees in your retirement plan. Fees can be a drag on your retirement portfolio so it’s important you’re not paying too much in fees. There are 3 strategies that could have fees which include financial advisor fees, mutual fund fees and variable annuities. Click HERE to read the […]
Now Is the Time to Forge a New Social Contract and Future-Proof Retirement
{December 21st, 2021} by Transamerica Center for Retirement Studies
LOS ANGELES, Dec. 16, 2021 /PRNewswire/ — Almost four in 10 people globally are concerned about running out of money in retirement (38 percent global, 39 percent U.S.), according to a report released today. The New Social Contract: Future-Proofing Retirement explores the impacts of the COVID-19 pandemic and offers detailed recommendations for improving retirement security. The report is based […]
NAIC Elects 2022 Officers
{December 21st, 2021} by NAIC
SAN DIEGO, Dec. 16, 2021 /PRNewswire/ — Members of the National Association of Insurance Commissioners (NAIC) elected officers for 2022 today during its Fall 2021 National Meeting plenary. The following officers were elected for 2022: President: Idaho Insurance Director Dean L. Cameron Dean L. Cameron was appointed Director of the Department of Insurance by Idaho Governor C.L. “Butch” Otter. He took office on June […]
DALBAR Answers the Question: Who’s the Best in Customer Service?
{December 20th, 2021} by DALBAR, Inc
MARLBOROUGH, Mass., Dec. 15, 2021 /PRNewswire/ — DALBAR, Inc., the nation’s leading evaluator of customer service in the financial services industry, kicks off their annual award season today by publishing the recipients of the prestigious 2021 DALBAR Service Awards. DALBAR Service Awards are granted to the best mutual fund, annuity, retirement and insurance contact centers in the industry. […]
Transamerica Supports Financial Dignity, Inclusion with Donation to Operation HOPE
{December 20th, 2021} by Transamerica
BALTIMORE, Dec. 16, 2021 /PRNewswire/ — Transamerica announced today that the Aegon Transamerica Foundation has donated $500,000 to Operation HOPE, a nonprofit organization working to help underserved individuals attain a better financial future. The donation includes $250,000 for the nationwide “HOPE Inside” community-based financial coaching network and $250,000 for the “One Million Black Business and Entrepreneur Initiative,” designed to launch and grow one […]
Advisors Excel’s Rachel Sachs Named to Independent Distribution Honors List
{December 20th, 2021} by Advisors Excel
TOPEKA, KAN., Dec. 16, 2021 /PRNewswire/ — Rachel Sachs, Advisors Excel Vice-President of Life Operations, was named a NAILBA Independent Distribution (ID) 20 Award Winner of 2021. This is the third year for the award. According to NAILBA, the ID Twenty Awards honor Independent Distribution’s most courageous innovators and visionaries, who have made significant contributions to the insurance […]
Sammons Financial Group Names Life Leadership Team
{December 20th, 2021} by Sammons Financial Group, Inc.
DES MOINES, Iowa, Dec. 16, 2021 /PRNewswire/ — Sammons® Financial Group today announced changes to the Sammons Life Insurance Group leadership team as it prepares for the retirement of Steve Palmitier and the elevation of Jerry Blair to president, effective January 1, 2022. This past October, Blair was named president of Sammons Life Insurance Group […]
The Penn Mutual Life Insurance Company Financial Strength Reaffirmed by Top Rating Agencies
{December 20th, 2021} by The Penn Mutual LIfe Insurance Company
HORSHAM, Pa., Dec. 16, 2021 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is pleased to announce that Kroll Bond Rating Agency (KBRA) and Standard and Poor’s (S&P) have again recognized the financial strength of the company and its subsidiaries. During recent reviews by both agencies, Penn Mutual received stable outlooks […]
AIG and Blackstone Real Estate Income Trust Close Transaction of Affordable Housing Assets
{December 20th, 2021} by AIG and Blackstone
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) and Blackstone (NYSE: BX) today announced the closing of the previously disclosed transaction for Blackstone Real Estate Income Trust (BREIT), a yield-oriented, perpetual-life investment vehicle affiliated with Blackstone, to acquire AIG’s interests in a U.S. affordable housing portfolio. All AIG employees who supported the affordable housing portfolio […]
AM Best Affirms Credit Ratings of MetLife, Inc. and Its Life/Health Subsidiaries
{December 20th, 2021} 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 members of Metropolitan Life Insurance Group. Concurrently, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) […]
AM Best Affirms Credit Ratings of Western & Southern Financial Group, Inc. and Its Subsidiaries
{December 20th, 2021} 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 life insurance subsidiaries of Western & Southern Financial Group, Inc. (WSFG). WSFG’s subsidiaries are The Western and Southern Life Insurance Company (WSLIC), Western-Southern Life Assurance Company, Columbus Life Insurance […]
AM Best Removes From Under Review With Developing Implications, Upgrades Credit Ratings for Guggenheim Life and Annuity Company
{December 20th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has removed from under review with developing implications and upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of Guggenheim Life and Annuity Company (GLAC) (Wilmington, DE). The outlook assigned to these Credit Ratings (ratings) is stable. The […]
AM Best Upgrades Credit Ratings of Nassau Financial Group, L.P.’s Insurance Subsidiaries
{December 20th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb” (Good) from “bbb-” (Good) of Nassau Life Insurance Company, Nassau Life and Annuity Company and Nassau Life Insurance Company of Kansas (Overland Park, KS). All of the aforementioned companies […]
AM Best Affirms Credit Ratings of Brighthouse Financial Inc. and Its Subsidiaries
{December 20th, 2021} 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 Brighthouse Life Insurance Company (headquartered in Charlotte, NC), New England Life Insurance Company (Boston, MA) and Brighthouse Life Insurance Company of NY (New York, NY). These entities collectively are referred […]
Independent Insurance Group Introduces iStructure — the First Uncapped Index-linked Structured Settlement Annuity linked to the Franklin BofA World Index™
{December 20th, 2021} by Independent Insurance Group
JACKSONVILLE, Fla., Dec. 15, 2021 /PRNewswire/ — Independent Insurance Group, LLC (“Independent Group”) announced today that its life and annuity subsidiary, Independent Life Insurance Company (“Independent Life”) is introducing iStructure, the first uncapped index-linked structured settlement annuity. iStructure, which provides the opportunity for growth in payout amounts with the same flexibility and tax benefits of traditional structured settlements, will […]
Not All Life Insurance Policies Cover COVID-19 Deaths
{December 14th, 2021} by Tatiana Kadetskaya
With COVID-19 deaths continuing to rise, more Americans ask themselves whether they should buy life insurance to protect their families in case of death. In fact, according to LIMRA’s 2021 Barometer Study, one in three Americans said they are more likely to buy life insurance because of the pandemic. However, whether their policy would cover […]
What’s not being said?
{December 14th, 2021} by Sheryl J. Moore
Earlier this year, we explored things that the insurance company might not tell you when writing indexed annuity business. In this article, we will look at indexed life insurance products. Bait-and-Switch on Inforce Renewal Rates Why would someone reduce the credited rates/caps/etc. on an inforce life insurance policy? How about because on indexed life, […]
Re: Allianz Life, F&G, Oceanview Re
{December 14th, 2021} by Editorial Staff
Allianz, the Munich-based global financial services firm, announced December 3 that its US life insurer, Allianz Life of North America, will reinsure $35 billion worth of in-force fixed index annuities (FIAs) with Talcott Resolution Life Insurance Company and Resolution Life, both owned by Sixth Street, a global asset manager. Click HERE to read the full […]
How a Variable Annuity Became No. 1 for Sales, and Stayed There
{December 14th, 2021} by Cyril Tuohy
How Jackson has been able to keep its best-selling product fresh and popular over the years is a story anchored partly in rider features and wholesale distribution, said Peter Lamond, variable annuities product director for Wink. One thing that helped is that Jackson emerged better from the financial carnage of the post-2008 era, he said. Many life […]
Big Surprises That Might Rattle, or Delight, the Life Industry in 2022
{December 14th, 2021} by Warren S. Hersch
Wink CEO Sheryl Moore said that if yields on 10-year Treasuries — the primary benchmark for pricing fixed-rate and fixed-indexed annuities — were to hit 3% “that would be the biggest and best surprise.” The 10-year Treasury right now returns about 1.5% annually. Click HERE to read the full story via Life Annuity Specialist
Wink Sees Mixed Q3 Life Sales Results [compared to 3Q 2020]
{December 14th, 2021} by Allison Bell
A combination of low interest rates, inflation worries and a new, intense COVID-19 surge put U.S. life insurance prospects in a thoughtful mood in the third quarter. Wink, a Des Moines, Iowa-based life and annuity market tracking company, says the life insurers that participated in its voluntary individual life issuer survey program reported mixed results […]
Private equity expands beyond US wealth management
{December 14th, 2021} by Jeff Benjamin
The private equity push into the U.S. wealth management space is showing signs of global expansion with New York-based Merchant Investment Management’s investment in Brainvest Wealth Management, a $3 billion multi-family office with offices in the United States, Switzerland and Brazil. Click HERE to read the full story via InvestmentNews
Are Medicaid annuities sound crisis-planning tools?
{December 14th, 2021} by Jeffrey Levine
Many individuals falsely believe that their potential future long-term care and medical costs will be covered by Medicare, which is available to individuals once they reach age 65. While Medicare is widely considered to be quality, cost-efficient health coverage (in large part due to its cost-sharing component with taxpayers) and does cover a robust variety […]
Holiday Gatherings Can Be A Financial Safety Check-In
{December 14th, 2021} by Kelly LaVigne
Getting together with family is certainly one the best parts of the holiday season. The chance to spend time reminiscing about the past and looking forward to what the new year will bring is a big part of what makes holiday gatherings so special. But connecting with family around the holidays can also be valuable […]
Integrity Marketing Gets $1.2B From Silver Lake
{December 14th, 2021} by Allison Bell
Integrity Marketing Group — a Dallas-based company that has acquired dozens of life, health and annuity agencies and distributors — said Thursday that it has attracted $1.2 billion in capital from a new investor, Silver Lake. Silver Lake is a Menlo Park, California-based company that may be best known for its investments in Airbnb, Dell […]
Top 10 Life, Health and Annuity Deals of 2021, So Far
{December 14th, 2021} by Allison Bell
U.S. life, health annuity issuers are taking a sober approach to dealmaking this year. The 10 biggest 2021 acquisitions in the sector announced through Dec. 7 have a total value of about $40 billion. More deals could be coming between now and New Year’s Eve, but these will create the benchmarks used to assess those. […]
Variable Annuity Issuers Get a Low-Interest-Rate Checkup
{December 14th, 2021} by Allison Bell
Big U.S. variable annuity issuers look as if they can handle 10 or more years of very low interest rates, according tro results from a new National Association of Insurance Commissioners issuer stress test. The variable annuity issuers that took the test might need about $8.1 billion in additional reserves, or 15% more, to handle […]
Small Insurer: Avoiding Hard Annuity Math May Be Too Difficult
{December 14th, 2021} by Allison Bell
New draft rules could hurt small fixed annuity issuers that want to stick with traditional reserving methods, according to Waylon Peoples. Peoples, vice president, life actuarial, with Erie Family Life, says the National Association of Insurance Commissioners has promised to free small, strong life and annuity issuers from having to use the complicated principles-based reserving […]
Life Insurers Paid Record Amounts To Beneficiaries In 2020
{December 14th, 2021} by ACLI
WASHINGTON – New research from the American Council of Life Insurers (ACLI) shows that life insurance companies paid more than $90 billion to beneficiaries of life insurance policies in 2020, the highest ever in any single year. It also represents a 15.4% increase in payments over 2019, which is the largest year-to-year increase since the 1918 Influenza […]
Covid Spurs Biggest Rise in Life-Insurance Payouts in a Century
{December 14th, 2021} by Leslie Scism
The Covid-19 pandemic last year drove the biggest increase in death benefits paid by U.S. life insurers since the 1918 influenza epidemic, an industry trade group said. Death-benefit payments rose 15.4% in 2020 to $90.43 billion, mostly due to the pandemic, according to the American Council of Life Insurers. In 1918, payments surged 41%. Click […]
10 Top Annuity Bills Introduced in 2021
{December 14th, 2021} by Melanie Waddell
Lawmakers were busy introducing annuity-related bills this year as sales of the products were booming. Sales of fixed and variable annuities were $60 billion in the second quarter of 2021, up 6% from first-quarter 2021 sales of $56.7 billion, according to the Insured Retirement Institute’s second-quarter 2021 market data, released in November. The data was […]
Investors Favor Annuities, Protection Over 60/40 Allocation: Survey
{December 14th, 2021} by Michael S. Fischer
As part of a new study, Alliance for Lifetime Income and CANNEX asked investors to build their own hypothetical $1 million portfolio. Here’s what respondents came up with. Investors allocated 20% of their portfolio to dividend-paying stocks, $200,000; 14% to real estate, about $145,000; and 13% to annuities, $136,000. They rounded out their top five […]
Strong Whole Life Demand Boosts Application Activity
{December 14th, 2021} by Allison Bell
Strong consumer interest in whole life insurance helped lead to a 2.9% increase in life insurance application activity between November 2020 and November 2021, according to new data from MIB Group. MIB reported a 1.5% drop in activity for October, but it has been reporting increases in year-over-year activity comparisons most months this year as […]
US Life Insurers See Return Pressure, Manageable Losses in 2022
{December 14th, 2021} by Fitch Ratings
Fitch Ratings-New York-07 December 2021: The neutral sector outlook for U.S. life insurers reflects improvement in the macroeconomic environment over the past year and strong industry balance sheet fundamentals, which are expected to persist in 2022. However, sustained low interest rates, the increased role of alternative investment managers and accounting changes will have long-term credit […]
How to Buy Life Insurance With Pre-Existing Conditions
{December 14th, 2021} by Christy Bieber
Life insurance pays a death benefit when the policyholder dies, ensuring surviving family members are provided for. But life insurance with pre-existing conditions may be more difficult to find, making it harder for people with medical issues to protect loved ones. This guide provides insight into the best life insurance policy for pre-existing conditions. What […]
Senior Market Sales Offers Advisors New Turnkey System to Provide Tax-Saving Strategies in Retirement
{December 14th, 2021} by Senior Market Sales
OMAHA, NEB. (PRWEB) DECEMBER 06, 2021 Senior Market Sales® (SMS) today unveiled the CirrusView process, a turnkey, repeatable system to help insurance and retirement planning professionals acquire and serve high-level clients with advanced tax-saving strategies. Advisors who use the CirrusView process – marketing resources, software and reports, and training and coaching – will help clients avoid unpleasant losses […]
Biden Fiduciary Definition Moves Could Wrap In Annuities, IRAs
{December 14th, 2021} by Austin R. Ramsey
Retirement advisers who market proprietary investment products and profit from advice they give to workplace investors are bracing for regulatory upheaval next year that for the first time could bind broad sectors of the insurance and financial industries to strict fiduciary obligations. The U.S. Labor Department’s Employee Benefits Security Administration wants to ensure the advisers […]
A Revolt Against PE-Led Annuity Issuers
{December 14th, 2021} by Kerry Pechter
A Pittsburgh insurance broker and a Richmond, Virginia forensic accountant have developed an alternative rating system for measuring the ability of life/annuity companies to keep their promises even in market crises. Click HERE to read the full article via RIJ Wink’s note: Matt Zagula- I read about your first-ever FMO for mutual […]
Insurance and annuity intelligence firm Wink names Grossman as new president
{December 14th, 2021} by Staff
Des Moines-based life insurance and annuity product data provider Wink Inc. has named Victoria Grossman as president, the firm announced. Sheryl Moore, who has been the CEO and president of Wink since founding the market intelligence company 16 years ago, will continue in her role as chairwoman and CEO, focusing on strategy and business development. Click HERE […]
Allianz Strikes Deal Over Management of $35 Billion in U.S. Annuities
{December 14th, 2021} by Julie Steinberg
German insurer Allianz SE ALIZY -1.00% said its U.S. life insurer had reached an agreement to reinsure liabilities of $35 billion, in one of the largest transactions of its kind. U.S. subsidiary Allianz Life struck the deal with life insurance group Resolution Life and affiliates of investment firm Sixth Street, including Talcott Resolution Life Insurance […]
Life insurance misconceptions: Any age or stage
{December 14th, 2021} by Jennifer Gassaway
If the past two years have taught us anything it’s that people feel more vulnerable than ever. We have faced unprecedented change and uncertainty, bearing witness the fragility of life in a global pandemic that has claimed the lives of millions worldwide. Meanwhile, provisional data released by the Centers for Disease Control and Prevention (CDC) […]
As Build Back Better Moves Forward, Taxes Top Concern for Investors
{December 14th, 2021} by Nationwide
COLUMBUS, Ohio, Dec. 7, 2021 /PRNewswire/ — Debate around the current presidential administration’s proposed reconciliation package has investors, particularly those of high income, bracing for potential tax impacts. The proposed reconciliation package, which includes plans to boost the nation’s social safety net and provide a framework to fight climate change, will likely be paid for in part […]
OneAmerica Unveils Modernized Whole Life Product Portfolio
{December 14th, 2021} by OneAmerica
INDIANAPOLIS, Dec. 8, 2021 /PRNewswire/ — OneAmerica®, a national provider of insurance and financial services, announced enhancements to its suite of whole life insurance products to provide more robust, flexible options to clients. Whole Life Select, Whole Life 95 and Whole Life 121 products now include several new features that make them some of the most diverse in […]
OneAmerica Launches Advisor Managed Accounts with Morningstar Investment Management LLC
{December 14th, 2021} by OneAmerica
INDIANAPOLIS, Dec. 7, 2021 /PRNewswire/ — OneAmerica® is teaming with one of the largest managed retirement accounts providers in the industry, Morningstar Investment Management. This collaboration enables advisors to deliver more tailored savings and investment advice to plan participants. OneAmerica would provide recordkeeper services through Morningstar Investment Management to Retirement Investment Adviser (RIA) firms in a white-label version under […]
Rising Inflation Seen as Biggest Risk to Americans’ Retirement Plans in 2022
{December 14th, 2021} by Allianz Life Insurance Company of North America
MINNEAPOLIS–(BUSINESS WIRE)–Although Americans say they worried most about the COVID-19 pandemic in 2021, rising inflation is now seen as the biggest risk to their retirement plans, according to the annual New Year’s Resolutions Study* conducted by Allianz Life Insurance Company of North America (Allianz Life). Nearly half (48%) of respondents identified the pandemic as the most […]
Jackson Names Scott Romine President of Jackson National Life Distributors LLC
{December 14th, 2021} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) today announced that Scott Romine has been appointed President of Jackson National Life Distributors LLC (JNLD), the marketing and distribution business of Jackson National Life Insurance Company. Scott will also be a member of Jackson’s Executive Committee, reporting to Chief Executive Officer, Laura Prieskorn. A 24-year Jackson veteran, […]
Jackson Announces $125 Million Share Repurchase
{December 14th, 2021} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®), as part of its previously disclosed $300 million share repurchase program, has signed agreements to repurchase Class A common stock from Prudential plc (Prudential; NYSE: PUK) and Athene Co-Invest Reinsurance Affiliate 1A Ltd. (Athene) for a total purchase price of approximately US $125 million. Jackson is repurchasing a […]
Equitable and Bestow Partner to Launch Digital Term Life Insurance Offering
{December 14th, 2021} by Bestow
NEW YORK–(BUSINESS WIRE)–Life insurance technology company Bestow and Equitable, a leading financial services company and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announce a first-of-its-kind enterprise partnership and the launch of a new, entirely digital term life insurance offering called Term-in-10SM. “As one of the most respected life insurers in the industry, Equitable is the ideal first […]
Manu Sareen Named Co-President of Global Atlantic
{December 14th, 2021} by Global Atlantic Financial Group
NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading U.S.-focused annuity and life insurance company, has appointed Manu Sareen as Co-President alongside Rob Arena, effective immediately. Mr. Sareen will partner with Mr. Arena supporting Chairman and CEO Allan Levine in operating the business and executing the company’s growth strategy. Mr. Sareen will also continue to […]
Best’s Special Report: U.S. Life/Annuity Insurance Industry Doubles Net Income in Nine-Month 2021 Period
{December 14th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–The U.S. life/annuity (L/A) industry doubled its net income in the first nine months of 2021 to $26.1 billion, compared with the same prior-year period, according to a new AM Best report. This financial review is detailed in a new Best’s Special Report, “First Look: Nine-Month 2021 Life/Annuity Financial Results,” and the data is derived from […]
Pacific Life Launches Advisory Solutions Desk for Registered Investment Advisors
{December 14th, 2021} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has announced the launch of its Advisory Solutions Desk, a concierge experience for Registered Investment Advisors (RIAs). “Now, RIAs and their fee-only advisors can access Pacific Advisory Variable Annuity in a variety of ways—directly through our new tech-enabled Advisory Solutions Desk or through one of our well-respected, outsourced insurance desks or custodial […]
Best’s Market Segment Report: AM Best Revises Outlook on U.S. Life/Annuity Insurance Industry Back to Stable
{December 14th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised its market segment outlook to stable from negative as the segment has experienced a number of improvements, including capital market gains and diversified earnings streams that helped offset the mortality impacts of the pandemic. In its new Best’s Market Segment Report, “Market Segment Outlook: U.S. Life/Annuity,” AM Best states that underpinning […]
Northwestern Mutual: 6 Creative Ways to Build a Lasting Legacy
{December 14th, 2021} by Northwestern Mutual
NEW YORK, Dec. 03, 2021 (GLOBE NEWSWIRE) — Legacy planning isn’t often the most fun or exciting task. But it’s a necessary one, that deserves dedicated time and energy. That’s because creating a legacy that reflects one’s values when they were alive is incredibly meaningful. It’s possible to build a lasting legacy regardless of financial status — here are 6 creative ways to […]
Ric Edelman: Your Clients Are Going to Live to 100. Are You Ready?
{December 14th, 2021} by Jane Wollman Rusoff
Longer life expectancy is remarkable but clearly not without its challenges. For the financial advisory profession, just what does the longevity revolution imply? “If you’re alive in 2030, you’re likely to live to 100 or beyond,” Ric Edelman says in a podcast interview with ThinkAdvisor. “That means we have to approach financial planning and investment […]
Apollo Accelerates Global Wealth Build with Acquisition of Griffin
{December 14th, 2021} by Apollo
NEW YORK, Dec. 02, 2021 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that it has entered into a definitive agreement to acquire the US wealth distribution and asset management businesses of Griffin Capital (“Griffin”). The acquisition is a significant step in building Apollo’s Global Wealth Management Solutions business, which is focused on the development and distribution of alternatives […]
Jackson Names Scott Romine President of Jackson National Life Distributors LLC
{December 14th, 2021} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) today announced that Scott Romine has been appointed President of Jackson National Life Distributors LLC (JNLD), the marketing and distribution business of Jackson National Life Insurance Company. Scott will also be a member of Jackson’s Executive Committee, reporting to Chief Executive Officer, Laura Prieskorn. A 24-year Jackson veteran, […]
Equitable launches RILA with income benefit
{December 14th, 2021} by Editorial Staff
Equitable, the life insurer that originated the registered index-linked annuity (RILA, aka structured variable annuity) over a decade ago, has added a guaranteed lifetime withdrawal benefit (GLWB) rider to the latest iteration of its popular Structured Capital Strategies RILA. Click HERE to read the full story via RIJ
Issues of Concern for Insurers in 2021
{December 14th, 2021} by Data Connection
By topic of concern and percentage of insurers ‘very concerned about it. Click HERE to view via RIJ The leading concern with 81% is: Low interest rates / generating returns or yields
Ameriprise, Raymond James, LPL, plus new FINRA rules, elder fraud and mentorship for female advisors
{December 14th, 2021} by Editorial Staff
A former LPL and Lincoln Financial Group advisor got more than two years in federal prison for stealing money directly from the bank account of one of his elderly clients. Commonwealth Financial has launched a program that pairs 40 of its 400 female advisors with a dozen mentors. The Financial Planning Association has a new […]
AmeriLife Names Jim Palmer President, Direct To Consumer
{December 14th, 2021} by News Direct
AmeriLife Group, a national leader in developing, marketing, and distributing annuity, life, and health insurance solutions, today announced that it has hired Jim Palmer as President, Direct to Consumer. Palmer, reporting to AmeriLife Chief Marketing Officer Ovi Vitas, will partner with AmeriLife’s executive team and ownership group Thomas H. Lee Partners to lead AmeriLife’s growing direct-to-consumer […]
Life Insurance Check-ups: The Current Planning Environment As A Catalyst For Policy Review
{December 14th, 2021} by Caroline Brooks
The COVID-19 pandemic has spurred awareness and interest in life insurance like never before. According to a recent LIMRA study, nearly one third of consumers (31%) say COVID-19 has made it more likely they will purchase life insurance in the next twelve months and 102 million Americans feel they need more life insurance. Recently, tax […]
Variable Life Insurance Market Rewriting Long Term Growth Story with Allianz, AXA, Generali, Ping An
{December 14th, 2021} by HTF Market Intelligence Consulting Private Limited
Edison, NJ — (SBWIRE) — 12/09/2021 — The Latest research study released by HTF MI “Variable Life Insurance Market” with 100+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status. Understanding the segments helps […]
Luma Financial Technologies Introduces Unique Replacement Analysis for Annuity Products via New “Luma Compare” Feature
{December 14th, 2021} by Luma Financial Technologies
CINCINNATI, OH / ACCESSWIRE / December 8, 2021 / Luma Financial Technologies (“Luma”), the world’s top independent and most objective, multi-issuer structured products and annuities platform, is pleased to announce annuity replacement analysis within their state-of-the-art comparison tool, “Luma Compare”. This new feature supplies advanced analytics for financial advisors to compare a client’s existing annuity […]
A tribute for William “Rusty” Spears, an industry colleague and friend
{December 13th, 2021} by Dwayne R Spence Funeral Home
William “Rusty” Spears, age 61, of Pickerington, died unexpectedly Saturday, October 23, 2021. He was born January 15, 1960 in Plattsburgh, NY, and was a 1978 graduate of Grove City High School and a 1986 graduate of Wright State University. He was a Technology Director, Product-NF at Nationwide Insurance, where he was employed for 31 […]
Wink, Inc. Releases Third Quarter, 2021 Life Sales Results
{December 10th, 2021} by Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE 3RD QUARTER LIFE SALES DECLINED, STILL IN UPSWING COMPARED TO 2020 Wink, Inc. Releases Third Quarter, 2021 Life Sales Results Des Moines, Iowa. December 10, 2021– Wink, Inc. released the third quarter, 2021 life sales results in its 97th edition of Wink’s Sales & Market Report. Wink’s Sales & […]
THIRD QUARTER 2021 LIFE INSURANCE SALES
{December 10th, 2021} by Sheryl J. Moore
Non-Variable UL Sales for the third quarter of 2021 were $724 million, compared with sales of $624 million for the third quarter of 2020. Third quarter non-variable life sales were down more than 5% when compared to the previous quarter and up nearly 16% as compared to the same period last year. Non-variable universal life […]
Life insurance sales fell backwards
{December 10th, 2021} by Sheryl J. Moore
Life insurance sales fell backwards, as all lines of life insurance products experienced sales declines over the prior quarter, and some over the prior year. 3Q2021 LIFE SALES Sales / % Chng Last Qtr / % Chng Last Yr -Non-Variable Universal Life: $724.40 M / -5.32%% / 15.91% –Indexed Life: $609.38 M / -2.16% / […]
Midland National Continues Aggressive Growth Strategy
{December 7th, 2021} by Midland National Life Insurance Company
WEST DES MOINES, Iowa, Dec. 6, 2021 /PRNewswire/ — Midland National® Life Insurance Company, a member of Sammons Financial Group®, has invested the past 18 months in an aggressive growth strategy aimed squarely at the Registered Investment Advisor (RIA) market. In 2021 alone, the company has introduced new, innovative products while building – and expanding upon – its RIA partnerships. […]
Great American Life Introduces New Fixed Annuity for the RIA Market
{December 7th, 2021} by Great American Life Insurance Company
December 06, 2021 02:00 PM Eastern Standard Time CINCINNATI–(BUSINESS WIRE)–Great American Life Insurance Company®, a leading provider of annuities, launched the Advantage 5SM Advisory, its first fee-based fixed annuity, deepening the company’s commitment to the registered investment advisor (RIA) channel. The Advantage 5 Advisory offers steady returns with an interest rate that is guaranteed for the […]
Life Insurance Outlook Is Stable For 2022 As Recovery Continues
{December 7th, 2021} by InsuranceNewsNet Press Release
The 2022 outlook for the U.S. life insurance sector is stable, reflecting the ongoing, although slower pace of recovery for the economy, Moody’s Investors Service said in a new report. However, while persistent inflation, supply chain issues, and new COVID-19 variants are risks, the still-solid level of growth supports a continuing stable outlook. “COVID-19’s highly […]
Pacific Life Launches Industry-First Advisory Fixed Annuity with No Withdrawal Charges
{December 7th, 2021} by Pacific Life
December 01, 2021 10:00 AM Eastern Standard Time NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Taking another step to becoming the annuity company of choice for registered investment advisors (RIAs) and their fee-only advisors, Pacific Life today announced the launch of Pacific Harbor, a new multi-year guaranteed fixed annuity with no withdrawal charges. “Pacific Harbor is the first fixed […]
FIAs maintain sales momentum in 3Q21: Wink
{December 7th, 2021} by Editorial Staff
Fixed indexed annuity (FIA) sales were $17.3bn; up 4.0% from 2Q2021 and up 25.6% from 3Q2020. Allianz Life was the top seller, with a 13.3% market share. The Allianz Benefit Control Annuity was the top-selling FIA. Click HERE to read the full story via RIJ
One Life Insurer’s Pivot to Private Assets
{December 7th, 2021} by Kerry Pechter
American Equity Investment Life Holding Company, a top-ten seller of fixed indexed annuities (FIA), continues to execute its “AEL 2.0” strategy—a blueprint for survival in today’s low interest environment. Other small to mid-sized publicly traded annuity issuers will no doubt take notice. Click HERE to read the full story via RIJ
Keep Life Insurance Buyers Awake Now: Faisa Stafford
{December 7th, 2021} by Allison Bell
Faisa Stafford is the face of the life insurance community’s effort to help Americans deal with the possibility that they could die. As the CEO of Life Happens, she organizes national personal protection insurance literacy efforts, including the Life Insurance Awareness Month campaigns in September, and the Insure Your Love campaigns in February. Click HERE […]
Wink Reports 10% Increase in Individual Deferred Annuity Sales
{December 7th, 2021} by Allison Bell
Consumers’ inflation fears helped sales of individual annuities that offer income growth potential in the third quarter and hurt sales of other individual annuities. Wink has reported the details in a summary of results from its latest annuity issuer survey. Click HERE to read the full story via ThinkAdvisor
Allianz Aims to Tilt Away From Annuity Guarantees
{December 7th, 2021} by Allison Bell
Allianz announced Friday that it has arranged to reinsure more than $34 billion in U.S. fixed annuities, and that it hopes to reduce the percentage of reserves supporting guaranteed savings and annuity products. Executives from the Munich-based insurer talked about the moves at an event for investors. The event was streamed live on the web, […]
22 Uses for Annuities in 2022
{December 7th, 2021} by Harry N. Stout
As we head toward 2022 and see more and more Americans reaching their mid to late 60s, it is a great time to revisit how annuity products can be used to meet consumer financial challenges. In anticipation of the new year, here are 22 ideas on how consumers can use annuity products to meet their […]
The Case for Fixed Indexed Annuities
{December 7th, 2021} by Jim Poolman
A smart retirement portfolio includes a mix of products and investments that work together to create a steady stream of income during your clients’ golden years. One product that should part of any financial professional’s toolbox is the fixed indexed annuity (FIA), which can provide guaranteed income during retirement. Click HERE to read the full […]
Insurance network for RIAs says MYGA is the future for annuity sales
{December 7th, 2021} by Emile Hallez
DPL Financial Partners is betting on demand among RIAs for a simple type of annuity, the MYGA, to use as an alternative to bonds, savings accounts and certificates of deposit. Click HERE to read the full story via InvestmentNews
Recognizing and Addressing Risks and Realities Negatively Impacting Retirement Security
{December 7th, 2021} by Transamerica Center for Retirement Studies
LOS ANGELES, Nov. 30, 2021 /PRNewswire/ — Fewer than one in four U.S. workers (24 percent) are “very” confident that they will be able to fully retire with a comfortable lifestyle, according to A Compendium of Findings About the Retirement Outlook of U.S. Workers (“Compendium”), a study released today by nonprofit Transamerica Center for Retirement Studies® (TCRS) in collaboration with Transamerica Institute®. […]
Finseca: Five Things You Should Do Before Year-End to Ensure Your Financial Security
{December 7th, 2021} by Finseca
WASHINGTON, Nov. 30, 2021 /PRNewswire/ — The start of every worthwhile journey to financial security begins with the end in mind. No plan is perfect, and it will evolve just as everything else in life. With 2021 quickly winding down, consumers should be thinking through these five to-dos before the year closes to ensure their financial security […]
Ameritas, BakerHostetler webinar to discuss potential changes to federal tax code
{December 7th, 2021} by Ameritas
LINCOLN, Neb., Nov. 30, 2021 /PRNewswire/ — Ameritas, in partnership with national law firm BakerHostetler, will host “The Build Back Better Plan: Impact on Your Client’s Planning Options” on Wednesday, Dec. 8 at 1 p.m. via Webex. The webinar will discuss important updates to the tax code that would result from the proposed federal Build Back Better bill. The Dec. 8 webinar is intended […]
Achieving clients’ income needs concern for 86% of advisors
{December 7th, 2021} by Nationwide
COLUMBUS, Ohio, Nov. 30, 2021 /PRNewswire/ — With interest rates remaining near historic lows, supply chain and workforce challenges driving continued market uncertainty and inflation on the rise, advisors are looking for additional options to generate income for their clients, and many are turning to non-traditional income strategies. According to a recent survey of advisors and financial professionals conducted […]
Milliman acquires Ruark Consulting, deepens analytic and benchmarking capabilities available to life insurers
{December 7th, 2021} by Milliman
SEATTLE, Dec. 2, 2021 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, today announced the acquisition of Ruark Consulting, the platform and industry benchmark for principles-based insurance data analytics and risk management. Ruark publishes experience studies that are the leading benchmark for life insurers, with data contributed each year from companies comprising over $1.1 trillion of current […]
