We moved to Tuesdays!
{March 8th, 2021} by Wink's Intel Pros
Hello Friends! Wink’s weekly newsletter will now be in your inbox to greet you first thing on Tuesday mornings! We’ll continue to gather ALL of the life insurance and annuity news from the web to combine into a single source for those of you that are as busy as we are. We’ll continue capturing all […]
IRS Drafts Update of Pension and Annuity Income Guide
{March 8th, 2021} by Allison Bell
The Internal Revenue Service has released a draft version of an important financial services tool: an update of Publication 575: Pension and Annuity Income. The new update is supposed to help taxpayers prepare their personal federal income tax returns for 2020. The publication serves as a kind of retirement arrangement tax encyclopedia. It provides sections on disability pensions, […]
Midland National Puts ESG in Indexed Annuity
{March 5th, 2021} by Allison Bell
Midland National Life Insurance Company is introducing a non-variable indexed annuity that has “ESG” on the menu. An ESG index tries to take environmental, social welfare and corporate governance factors into account when evaluating investment opportunities. Midland National says its new IndexMax ADV annuity offers purchasers access to the BlackRock ESG US 5% Index ER […]
Welcome Jameson Alan!
{March 3rd, 2021} by Jamie Johnson
Congratulations to our Chief Everything Officer, Victoria (Tori) along with her husband, Zach Grossman on the birth of their handsome baby boy, Jameson Alan! We are so incredibly thrilled for this addition to their family and to our extended Wink-family. Victoria and baby Jameson are doing great. All of our hearts are bursting with joy! […]
Midland National Adds BlackRock ESG US 5% Index ER to IndexMax ADV℠ Advisory Annuity
{March 3rd, 2021} by Midland National Life Insurance Company
SAN FRANCISCO–(BUSINESS WIRE)–Midland National Life Insurance Company (Midland National) announced the addition of the BlackRock ESG US 5% Index ER (ticker: BESGUVCX) to help customers take advantage of the burgeoning growth in sustainable financial products. IndexMax ADV, exclusively available on the RetireOne® platform, offers three index options in the dual crediting strategy for accumulation growth potential. “Designing […]
TIAA Appoints Thasunda Brown Duckett President and CEO
{March 3rd, 2021} by TIAA
NEW YORK, Feb. 25, 2021 /PRNewswire/ — TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions, named Thasunda Brown Duckett to succeed Roger W. Ferguson, Jr., as President and CEO. Ms. Duckett will join TIAA on May 1 from JPMorgan Chase, where she was CEO of Chase Consumer Banking. Mr. […]
Annuities And Unmarried Couples: The Right Planning Can Avoid Headaches
{March 3rd, 2021} by John Williams
Annuities provide many advantages to clients, but those advantages are especially geared toward the individual. Annuities are often tailored to clients of retirement age, and those most often are seeking a predictable income stream or a guarantee of investment return. Choosing the right annuity, based on goals and risk tolerance, is a personal decision. Click […]
‘Bermuda Triangle’ Deal for Principal Financial?
{March 3rd, 2021} by Kerry Pechter
Principal Financial Group, Elliott Investment Management, and Prosperity Life (majority owned by Elliott) may be headed for the same type of ‘capital liberating’ reinsurance deal that so many other life/annuity companies have struck with big asset managers in recent years. There was just the right combination of vagueness and specifics in the “settlement agreement” between […]
What’s New In Life And Annuity eApp, Illustrations, Mobile And Self-Service
{March 3rd, 2021} by Ken Leibow
Life and annuity technology solutions are growing in both innovation and in the number of platforms that are available in the marketplace. Today I want to give you a taste of the latest stats on eApp and eDelivery for BGAs; a new simple method of presenting complex illustrations; a mobile modular option for carriers for […]
The Failed Robo-Teacher Experiment
{March 3rd, 2021} by Charlie Gipple
I recently posted the below as a blogpost on www.retirement-academy.com and received a significant amount of feedback on this. So, I will also share these thoughts with BrokerWorld’s readership. Just like how we are all cavemen and women that have evolved, we are also still kids that have grown. Internally, we all have some caveman instincts, and […]
An Interview With Eugene Cohen—March 2021
{March 3rd, 2021} by Eugene Cohen and Michael Cohen
2009 Honoree International DI Society’s W. Harold Petersen Lifetime Achievement Award. 2015 Honoree of NAILBA’s Douglas Mooers Award for Excellence. From time to time we will feature an interview with Eugene Cohen, who has dedicated more than 57 years of his life to learning, teaching, and supporting brokers in the agency’s quest to help consumers […]
Equitable Commits to New York City; Looks to the Future With Strength and Confidence
{March 3rd, 2021} by Equitable
NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), reaffirmed its commitment to New York City by signing a 15-year lease establishing 1345 Avenue of the Americas as its new corporate headquarters in 2024. Today’s announcement represents a significant step for the company as an independent, U.S.-based […]
EIS Partners With esure Group to Expedite Its Digital Transformation
{March 3rd, 2021} by EIS
MANCHESTER, England & SAN FRANCISCO–(BUSINESS WIRE)–EIS, a core and digital platform provider for insurers, today announced its newest customer as esure Group (“esure”), a market-leading provider of motor and home insurance. esure recognised EIS could help with its ambition to become a world-class digital insurer by transforming its core IT infrastructure and applications. The new […]
Best’s Review Looks at How the Pandemic Is Transforming the Insurance Industry
{March 3rd, 2021} by Best's Review
OLDWICK, N.J.–(BUSINESS WIRE)–The March issue of Best’s Review reports on the ways the insurance industry has had to adapt to COVID-19 and the new directions insurers have begun to explore. In “The Pandemic Has Accelerated the Pace of Digital Transformation and Product Innovation in Insurance,” Best’s Review looks at how the pandemic has forced the industry to rethink products and […]
Lincoln Financial Group to Participate in the RBC Capital Markets Virtual Global Financials Conferenc
{March 3rd, 2021} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) announced today that Randy J. Freitag, executive vice president and chief financial officer and head of individual life of Lincoln Financial Group, will present at the RBC Capital Markets Virtual Global Financials Conference on Tuesday, March 9, 2021 at approximately 9:20 a.m. Eastern Time. Mr. Freitag will participate in […]
Principal Financial Group Announces 2021 Outlook
{March 3rd, 2021} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced 2021 outlook metrics and capital deployment plans. These metrics provide greater clarity around the key drivers of earnings growth for each of the business units. Company senior leaders will provide additional detail on guidance and take questions during a conference call at 10:00 a.m. EST today, Feb. […]
MassMutual Reports Excellent 2020 Results, Including Strong Financial Performance and Strategic Progress
{March 3rd, 2021} by Massachusetts Mutual Life Insurance Company
SPRINGFIELD, Mass.–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (MassMutual) today reported strong financial results1 for 2020 – including sales, earnings and capital growth – while making excellent progress on its strategy and providing support to its stakeholders in a year marked by extraordinary environmental challenges. For the year ended December 31, 2020, MassMutual reported total sales through […]
Zurich extends Apprenticeship Program to Atlanta and RCIS business
{March 3rd, 2021} by Zurich North America
SCHAUMBURG, Ill., March 2, 2021 /PRNewswire/ — The Zurich North America Apprenticeship Program is now hiring, with positions available for the first time in Atlanta and in select agricultural states supported by Zurich’s crop insurance business, RCIS. The insurance provider also is hiring apprentices who will be based at its North American headquarters in Schaumburg, Illinois, and at its New York City office, which […]
Ameritas and NAIFA to grow leaders through financial services advocacy
{March 3rd, 2021} by Ameritas
LINCOLN, Neb., March 2, 2021 /PRNewswire/ — Ameritas and NAIFA are teaming to advance the careers of rising stars in the financial services industry. This initiative will engage Ameritas qualifying financial professionals in financial services advocacy by helping to build broader networks and leverage new pathways to grow their careers. “NAIFA is the nation’s leading governmental advocacy group for the financial services industry. This program engages the next generation of industry leaders and […]
Should Your Life Insurance Be In An Irrevocable Trust?
{March 3rd, 2021} by Christine Fletcher
If you are contemplating purchasing a new life insurance policy, be sure to discuss the use of an irrevocable life insurance trust (known as an ILIT) with your advisors before you purchase the policy. An ILIT is an irrevocable trust that you create to hold a life insurance policy on your life. It is typically used […]
How To Stand Out And Grow
{March 3rd, 2021} by Paul Feldman
Kristin Andree thought what her dad did for a living was boring. She remembers thumbing through the CLU and the CFP exam prep books and thinking, “Why would you do this?” It wasn’t until decades later that she recognized the good life her father had and had given his family. Click HERE to read the […]
F&G annuity sales top $1.3 billion in fourth quarter, up 23% year over year
{March 3rd, 2021} by Business Record
F&G, a leading provider of annuities and life insurance based in Des Moines, reported operating results for the fourth quarter of 2020 as part of the quarterly earnings report of its parent company, Fidelity National Financial Inc. (FNF). Fidelity & Guaranty Life Insurance Co. reported total retail annuity sales of $1.31 billion in the fourth […]
How Technology Can Simplify Annuities To Help Fight A Retirement Crisis
{March 2nd, 2021} by Jay Charles
The United States continues to face a well-documented retirement crisis. Social Security benefits are decreasing, traditional pension plans are disappearing and more responsibility is being placed on individuals than ever before. Meanwhile, Americans are living longer and struggling to meet their savings targets amid rising market volatility and a low interest rate environment. Click HERE […]
Transamerica Survey Finds Higher Education Institutions Turn to Their Retirement Plan Service Provider to Help Address Unprecedented Challenges
{March 2nd, 2021} by Transamerica
BALTIMORE, March 2, 2021 /PRNewswire/ — Transamerica today revealed the latest report of retirement plan trends for institutions of higher education. Survey results provide an inside look into the challenges institutions face in helping faculty and staff prepare for retirement. The COVID-19 pandemic has impacted retirement plans beyond the availability and usage of loans and COVID-19 related distributions. Nearly three out of five institutions […]
Sammons Financial Group Announces Changes to the Corporate Actuarial Team
{March 2nd, 2021} by Sammons Financial Group
WEST DES MOINES, Iowa, March 1, 2021 /PRNewswire/ — Sammons Financial Group has named Marcy Baker as vice president of corporate actuarial. In this new role, Baker is responsible for experience studies, financial analysis, corporate actuarial project management with a specific focus on enforcing controls and governance of the actuarial function. Marcy Baker, vice president of corporate actuarial at […]
Advisor Authority Study Reveals Pandemic Impacts even the Most Successful Advisors and Financial Professionals
{March 2nd, 2021} by Nationwide
COLUMBUS, Ohio, March 1, 2021 /PRNewswire/ — As the COVID-19 pandemic persists, the impact has been felt by advisors and financial professionals, even the most successful. In 2020, only 57% of successful advisors and financial professionals expected the profitability of their practice to increase in the next 12 months, compared to 81% in 2019—a profound decline of 24 […]
Transamerica Celebrates Women’s History Month With Campaign To Help Financial Professionals Better Serve Women Clients
{March 2nd, 2021} by Transamerica
BALTIMORE, March 1, 2021 /PRNewswire/ — Transamerica is shining a spotlight on the challenges facing women as they prepare for a secure financial future. In honor of Women’s History Month, Transamerica is launching its Women and Investing campaign that runs through March. The campaign kicks off with a livestream webinar, “Women and Investing: Being There for Her,” today at 1 p.m. ET. […]
Sammons Financial Group Shares 2020 Community-Giving Results
{March 2nd, 2021} by Sammons Financial Group
WEST DES MOINES, Iowa, Feb. 25, 2021 /PRNewswire/ — In 2020, Sammons® Financial Group, Inc. continued its ongoing support in its corporate site locations by donating $3.5 million to local, charitable organizations. Sammons Financial Group maintains four corporate site offices – Chicago, Fargo, Sioux Falls, and the greater Des Moines area – and has employee-led committees in each city to direct all local service and financial outreach. The company […]
Guardian Life Expands Portfolio with Guaranteed Universal Life
{March 2nd, 2021} by Guardian
NEW YORK, March 1, 2021 /PRNewswire/ — Today, The Guardian Life Insurance Company of America® (Guardian Life) announced an alliance with Protective Life Insurance Company to make Protective Lifetime Assurance Universal Life available through Guardian’s financial representatives. The product allows clients to lock-in competitively priced premiums for the life of their policy and offers level pricing with the […]
Report Reveals What Agents Want In 2021: Flexibility, Client Time
{March 2nd, 2021} by PR Newswire
A new report by Vertafore on the state of the independent insurance channel workforce brings into sharp relief how the pandemic changed the nature of work in the industry, what insurance professionals value about their work and what independent agencies can do to support their people now and attract new talent in the future. The Insurance Agency […]
Remaining Bullish in a Shrinking Variable Annuity Market New Features, Lower-Fee Options Enhance Variable Annuity Products
{March 2nd, 2021} by Sammons Retirement Solutions
WEST DES MOINES, Iowa, Feb. 17, 2021 (GLOBE NEWSWIRE) — At a time when many insurers have written off variable annuities due to increased cost, dwindling benefits, and declining sales, Sammons Retirement Solutions®, a division of Sammons Institutional Group, Inc., remains bullish. So much so, the company recently reconfigured their LiveWell Variable Annuity (VA) with more legacy planning […]
NAIC Releases 2020 Market Share Data
{March 2nd, 2021} by NAIC
WASHINGTON (March 1, 2021) — The National Association of Insurance Commissioners (NAIC) released data today on life/fraternal and property/casualty insurers. The reports provide market share information and identify leading insurance writers in several key lines of business. The numbers in the reports will increase throughout the week and month as the report runs. The 2020 market share […]
Ameriprise targets young independent advisors with new training program
{March 2nd, 2021} by Tobias Salinger
With more than 4 out of 10 financial advisors aged 55 or older, a large wealth manager rolled out a new training program aimed at the next generation of independent advisors. Ameriprise’s Associate Financial Advisor Business Development Program is its first formalized training for the hundreds of licensed associate advisors the Minneapolis-based wealth manager’s independent […]
Insurance Coalition Targets Life Coverage Gap
{March 2nd, 2021} by Steve Morelli
Too few American families have been adequately covered by life insurance for too long, and a coalition of trade associations plans to do something about it this year. The group launched Help Protect Our Families on Feb. 1 with an outreach campaign to close the gap in under- and uninsured households. About 60 million households […]
New Life Policy Fits Consumer Loans Like Spandex: Life Moves
{March 2nd, 2021} by Allison Bell
Covr Financial Technologies is working with a life insurer and a reinsurer to sell decreasing benefit term life policies that provide just enough coverage to fit consumers’ loans. The Hartford, Connecticut-based company, together with Americo Financial Life and Annuity Insurance Company and Scor S.E., is bringing the LoanMatch Protector life insurance policy to market. Americo […]
Do Your Clients Have Enough Liquidity?
{March 2nd, 2021} by Del Fujinaka
Liquid assets are a major component of a healthy financial plan. Are you making sure your clients have the cash they need to hedge against disasters? Income shocks produced as a result of the pandemic have had a somewhat purifying effect on financial planning. Before COVID-19, many consumers were dismissive of the idea that strong […]
Theodore D. “Ted” Lussem
{March 2nd, 2021} by Legacy
Des Moines – Theodore D. “Ted” Lussem, age 83, passed away Saturday, February 27, 2021. Services will be 12:00 p.m. Wednesday, March 10, 2021 at Hamilton’s on Westown Parkway, 3601 Westown Pkwy, West Des Moines with visitation from 6:00 to 8:00 p.m. on Tuesday, March 9th. Masks are required. Interment will be at Rising Sun […]
Sen. Warren’s Wealth Tax Plan Is ‘Nuts’: Jane Bryant Quinn
{March 2nd, 2021} by Jane Wollman Rusoff
Jane Bryant Quinn, long-trusted personal finance journalist and commentator, never pulls punches in appraising financial advisors. She doesn’t do so when it comes to politicians, either. Indeed, she calls Sen. Elizabeth Warren’s wealth tax proposal “nuts” and “hopeless.” “It will never get anywhere,” she argued in an interview with ThinkAdvisor in February. Warren, D-Mass., introduced […]
Labor Bill Could Turn Many Insurance Producers Into Employees: NAIFA
{March 2nd, 2021} by Allison Bell
The National Association of Insurance and Financial Advisors is working to change a U.S. House bill that could classify many insurance agents, insurance brokers and financial advisors as employees, rather than as independent contractors. The association is asking members to help it lobby to add an exemption for financial professionals to the “Protecting the Right […]
‘Too Good to Be True’ Annuity Illustrations Spur Criticisms
{March 2nd, 2021} by Warren S. Hersch
“There are more than 120 different indices available on indexed annuities today,” says Wink CEO Sheryl Moore. Fewer than a third of the indexes “have been in existence for at least a decade,” she adds, citing Wink’s Index Intelligence Report. Click HERE to read the full story via Life Annuity Specialist Wink’s Note: Misinformed, […]
Equitable Rides Record Sales of Buffered Annuity in Fourth Quarter
{March 2nd, 2021} by Warren S. Hersch
Equitable accounted for 29% of index-linked variable annuity volume in the fourth quarter of 2019, according to Wink’s Sales & Market Report. But the New York-based insurer, which once dominated the segment, is now in a fierce fight for the top spot with others, including Allianz Life, Brighthouse Financial and Lincoln Financial. Click HERE to read the full story via […]
Agents and Advisors, Life Settlements and Compensation
{March 2nd, 2021} by Lucas Siegel
Although life settlements are increasingly popular as a liquidity solution for cash-strapped seniors, they’re still a subject of confusion for many financial professionals. To clear up the big question straight away, life settlements are completely legal. They’re regulated in most U.S. states to protect policyholders, investors, life settlement brokers, and insurers from fraud. As well, it’s also […]
Ripsaw® Wealth Tools Announces its Optimizer and Assist Tools
{March 2nd, 2021} by Ripsaw
EDWARDS, Colo., March 2, 2021 /PRNewswire/ — Ripsaw LLC recently launched version 1.5 of Ripsaw® Wealth Tools featuring its innovative Ripsaw Optimizer™ and Assist™ tools. The Optimizer solves for the allocation of wealth among the available investments in all accounts simultaneously with one click! The Assist tool analyzes that solution and suggests additional investments from its proprietary screener […]
Best Places to Work for Financial Advisers
{March 2nd, 2021} by InvestmentNews
The 75 firms presented here go beyond offering financial advisers attractive benefits and perks, they create workplaces that empower employees with the skills and confidence necessary to deliver the best possible investment and financial planning guidance to clients. Click HERE to view via InvestmentNews
Finseca and women-led initiatives
{March 2nd, 2021} by Jamie Johnson
March is #WomensHistoryMonth—a time to study and celebrate the vital role of women in American history.
AmeriLife Acquires DFS Marketing
{March 2nd, 2021} by AmeriLife Group, LLC
CLEARWATER, Fla., March 2, 2021 /PRNewswire/ — AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing annuity, life, and health insurance solutions, has acquired DFS Marketing, an FMO distributing annuity and life insurance through independent agents. “DFS Marketing brings a lot of value to the table between their experienced management team and their strong presence in the […]
Who are the women trailblazers in insurance?
{March 2nd, 2021} by Insurance Business America
The call for entries for Insurance Business America’s Elite Women 2021 is underway. The annual list brings together top-performing female leaders who have achieved remarkable success in the business. “I believe that it is critical to use our individual and collective voices and our positions of leadership to drive meaningful change for a more inclusive industry and society,” […]
‘COVID-19 is not a retirement story’: CRR
{March 2nd, 2021} by Editorial Staff
‘A hot topic these days is how COVID-19 and the ensuing recession have affected retirement. The surprising answer may be: Not very much,’ write Alicia Munnell and Anqi Chen of the Center for Retirement Research at Boston College. The COVID-19 pandemic hasn’t changed Americans’ overall retirement funding picture—mainly because the people who lost the most […]
AIG Retirement Services Study Finds Strong Awareness but Minimal Understanding of Public Service Loan Forgiveness Program
{March 2nd, 2021} by AIG
HOUSTON–(BUSINESS WIRE)–AIG Retirement Services, a leading retirement plan provider for tax-exempt and public sector employers, today announced the results of a new study looking at how nonprofit and public service employees think about student loan debt, student loan forgiveness and the Public Service Loan Forgiveness (PSLF) program. Millions of public sector and nonprofit workers including […]
The Case for Replacing Some Bonds With Annuities
{March 1st, 2021} by Neal Templin
If you want to maximize how much you can safely spend in retirement, some economists say, sell some of your bonds and buy lifetime income annuities. While you’re still working, a diversified portfolio of stocks and bonds is an efficient way to save for retirement. But once you’ve retired and are drawing down that nest […]
ALLIANCE SPONSORS KEN DYCHTWALD’S ‘LIFE’S THIRD AGE’ PROGRAM
{March 1st, 2021} by Alliance for Lifetime Income
In his groundbreaking special for American Public Television, exclusively sponsored by the Alliance, renowned psychologist, gerontologist and best-selling author Ken Dychtwald presents life-changing insights and innovative ways Americans can discover, navigate and enjoy previously unimagined opportunities and challenges in this new life stage Dr. Dychtwald calls the Third Age, including learning how to match our […]
How to Use Fixed Annuities
{March 1st, 2021} by dkorth@finsum.com (FINSUM)
If there were ever a product built for steady retirement income, it is fixed annuities. With the big decline in fixed pensions, fixed annuities have become a must-have option for many retirees who need guaranteed income. They are the simplest annuity—principal and income are guaranteed, but rates are fixed. In other words, the insurance company […]
Meet Laurence Black, Interpreter of Indexes
{March 1st, 2021} by Editorial Staff
There’s a confusing profusion of new indexes behind ETFs and annuities. Laurence Black of The Index Standard says he can make sense of them. Watch as Tamiko Toland of CANNEX interviews Black about his solutions. (There’s a short video and a longer one.) In these videos, Tamiko Toland, director of annuity research at CANNEX, the […]
What Is MIB Group And How Does It Affect Life Insurance Applications?
{March 1st, 2021} by Ashley Chorpenning and Amy Danise
For most kinds of life insurance applications, the life insurance company will collect and evaluate a ton of information about you. Although insurance companies have a lot of information from the application and, often, a life insurance medical exam, they also often tap resources for extra data, such as the MIB Group. Who is the […]
Goldman Sachs 10,000 Small Businesses program!
{February 24th, 2021} by Wink's Intel Pros
Congratulations to our CEO, Sheryl Moore on being selected to participate in Goldman Sachs 10,000 Small Businesses program! Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing access to education, capital and business support services. Sheryl, we are proud of the passion and innovation that you bring to […]
Why all the Buzz Around Structured Annuities, Now?
{February 24th, 2021} by CUNA Mutual
Sheryl Moore will be droppin’ some annuity knowledge on the 17th of March. WARNING: Those not in attendance will miss the chance to see the mic drop. Everyone has been warned…our listeners will not only have a better understanding of what’s going on in the annuity market, but why NOW is the best time to […]
Official Wink holiday on 2/25
{February 24th, 2021} by Wink's RockStars
It’s Sheryl’s birthday on Thursday! Will you help us make the day extra special? Be sure to drop her some wishes via LinkedIn, Twitter, Facebook, good ole’ snail mail or shoot over a note!
American Equity Rolls out Accumulation Product Enhancements
{February 24th, 2021} by American Equity Investment Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–Feb. 22, 2021– American Equity Investment Life Insurance Company®, a leading underwriter of fixed index annuities, announced a series of enhancements to its flagship accumulation product, the AssetShield fixed index annuity. This 5, 7, and 10-year annuity product line now offers new equity and multi-asset index options, as well as the choice […]
Have Your Cake And Eat It Too: An Investor’s Dream
{February 24th, 2021} by Micah Hesting
When I was asked to write an article regarding life and/or annuity strategies, I wanted to write an article that had value and was intriguing to both annuity and life producers. So, without further ado, we have the “Annuity Max with a Twist” strategy. For those of you working solely in the annuity space, you […]
Effective Last Month! Congress’ Gift To Life Insurance
{February 24th, 2021} by Charlie Gipple
If you get shivers down your spine in excitement like I do when you think of things like CVAT, GPT, Modified Endowment Contracts, and Section 7702, then I hope you are sitting down. If you are an insurance agent that sells (or wants to sell) accumulation focused policies like IUL and whole life (short pay […]
Leveraging The Latest Trends In Life Insurance
{February 24th, 2021} by John Thornton
The past year will be remembered for many things, not the least of which is the global pandemic that disrupted life as we knew it. As it persists, but with the vaccines now being distributed, there is reason for optimism. For the life insurance industry, the latest data suggests better days ahead. Click HERE to […]
DOL Advice Rule Compliance Will Be ‘Heavy Lift’
{February 24th, 2021} by John Hilton
Advisors and agents do not have to worry about the Department of Labor investment advice rule for now, but should be focused on being in compliance by the end of 2021. And there is a lot of work to be done, said Fred Reish, a partner with the law firm Faegre Drinker Biddle & Reath. […]
NAIFA Looks At Boosting Diversity, Growing Next Gen Of Advisors
{February 24th, 2021} by Susan Rupe
A 130-year-old industry association is looking ahead to the next five years by looking at ways to increase its diversity, foster the growth of the next generation of advisors and raising awareness of financial services as an appealing career among students. This week, the National Association of Insurance and Financial Advisors’ board of directors approved […]
How Do DOL Rules Impact Insurance Producers?
{February 24th, 2021} by H.L. Vogel
To the surprise of many, the Department of Labor allowed the previous administration’s final fiduciary advice regulation, officially titled Prohibited Transaction Exemption 2020-02, to go into effect on Feb. 16. The focus of PTE 2020-02 is on broker-dealers and registered investment advisors, but how does this turn of events impact insurance producers? Does PTE 2020-02 Matter For […]
FINRA’s Focus on Variable Annuity Switches Continues
{February 24th, 2021} by Bruce L. Ashton, Sandra Dawn Grannum, James G. Lundy, David W. Porteous, Fred Reish Edward, J. Scarillo Jr.
On January 8, 2021, without admitting or denying the findings, VALIC Financial Advisors, Inc., (VALIC) entered into a settlement with FINRA Enforcement, through an Acceptance, Waiver and Consent (AWC) where the factual allegation was that between January 1, 2017, and October 31, 2018, the broker-dealer failed to “establish a reasonably designed system and written supervisory […]
Last Chance! Prepare for sales takeoff at NAILBA 39: Engage!
{February 24th, 2021} by Wink's Intel Pros
Sign in to Chat with us at NAILBA 39:Engage ✈️! Interested in our products? Land at our virtual booth to sign-up for a demo and receive a SUPER FASHIONABLE “I ❤️ Annuities/Life Insurance” t-shirt.
John Hancock Has a Not-So-Secret Weapon for Tracking COVID-19
{February 24th, 2021} by Allison Bell
John Hancock has a high-tech health incentive program that helps it encourage life insurance policyholders to take good care of themselves. Today, the health information the program collects could, in theory, give John Hancock a kind of data window it could use to watch the COVID-19 pandemic sweep across the world. John Hancock and Vitality USA, […]
Athene Wants to Sell More Annuities: Earnings
{February 24th, 2021} by Allison Bell
Executives at Athene Holding Ltd. say that they are happy that the company sold many annuities in the fourth quarter of 2020, and that they would like to see the company sell many more annuities this year. Executives from the Hamilton, Bermuda-based insurer and reinsurer talked about how they see the U.S. individual annuity market […]
U.S. Life Expectancy Fell in First Half of 2020 as Covid-19 Deaths Surged
{February 24th, 2021} by Janet Adamy
U.S. life expectancy declined by a year during the first half of 2020, according to federal figures released Thursday that show the deadly impact of the coronavirus pandemic’s early months. The Centers for Disease Control and Prevention’s National Center for Health Statistics said life expectancy at birth was 77.8 years as of the end of June based […]
Aquarian Agrees to Acquire Pavonia Life of New York: Deals
{February 24th, 2021} by Allison Bell
The New York-based investment company that acquired Investors Heritage Life Insurance Company in 2017 is hoping to buy a life insurer based in New York state. Aquarian Holdings, has agreed to acquire Pavonia Life Insurance Company of New York from a wholly owned U.S. subsidiary of Enstar Group Limited. Enstar Group is a Hamilton, Bermuda-based […]
Kentucky Annuity Suitability Measure Hits Turbulence
{February 24th, 2021} by Allison Bell
The Insured Retirement Institute (IRI) is asking the Kentucky Department of Insurance to put the term “best interest” back into a proposed annuity sales standards regulation update. The Kentucky department is working to adopt a Suitability in Annuity Transactions Model Regulation update that was developed and approved by the National Association of Insurance Commissioners (NAIC), […]
Are Annuity Providers Safe?
{February 24th, 2021} by Michael Clark
Plan sponsors embarking on an annuity purchase face additional uncertainty and risks due to the implications of COVID-19. Transactions are continuing and there are no current solvency concerns, however awareness of market conditions and performing due diligence of insurance providers takes on additional importance. Over the last decade, de-risking a pension plan through the use […]
Emotional Intelligence and Success
{February 24th, 2021} by Regina Bedoya
After observing trends related to consumers losing trust in corporations, government and media, Million Dollar Round Table recently conducted a consumer study to dig deeper into how distrust is impacting the financial services industry. The study revealed that the majority of advisors have earned their clients’ trust, thus rising above other professions in this era […]
Investment Firm Presses Principal to Shed Life and Annuity Arm
{February 24th, 2021} by Allison Bell
Activist fund Elliott Investment Management L.P. — the parent of Prosperity Life Group — is pushing Principal Financial Group Inc. to do something with its life and annuity operations, according to reports filed with the U.S. Securities and Exchange Commission. Elliot owns stock in Principal. Principal is a Des Moines, Iowa-based financial services company that has been […]
Allianz Life Named One of the World’s Most Ethical Companies in 2021
{February 24th, 2021} by Allianz
MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) announced today it has been recognized as one of the 2021 World’s Most Ethical Companies. The annual World’s Most Ethical Companies recognition from Ethisphere honors companies from around the world that demonstrate a commitment to business integrity, making a difference in the communities they touch, and […]
Jackson National Puts Its Future in Veteran Hands
{February 24th, 2021} by Kerry Pechter
As it prepares to de-merge from UK-based Prudential plc after 35 years and begin trading on the New York Stock Exchange (as JXN), Jackson National Life—the leading issuer of variable annuity contracts in the US—has named new top management. Laura Prieskorn, most recently Jackson’s Chief Operating Officer, was named CEO. Marcia Wadsten, who joined Jackson […]
How the pandemic highlights diversity challenges in financial services
{February 24th, 2021} by Jeff Benjamin
If there is an upside to the global pandemic and the resulting lockdowns that have forced people to work from home, it might be that the situation has highlighted imbalances when it comes to gender roles and responsibilities. Click HERE to read the full story via InvestmentNews
Principal launches strategic review after settlement with Elliott
{February 24th, 2021} by Bloomberg News
Principal Financial Group Inc. said it plans to launch a strategic review and appoint two new independent directors as part of a settlement agreement with activist investor Elliott Investment Management. Click HERE to read the full story via InvestmentNews.
Securian Financial Reports 2020 Financial Results
{February 24th, 2021} by Securian Financial
ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial announced preliminary 2020 financial results during its annual all-company meeting yesterday, highlighted by continued revenue growth and increased community giving in a challenging year. “Securian Financial’s purpose and values were on full display in 2020. The worst pandemic in a century highlighted the importance of the peace of mind and […]
Nearly All Employed U.S. Adults Focused on Improving Finances as a Result of COVID-19
{February 24th, 2021} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–COVID-19 has altered almost every aspect of daily life, yet a positive trend has emerged: Americans are more actively engaged in their finances. Research from Lincoln Financial Group (NYSE:LNC) shows that 79% of full-time employed U.S. adults say COVID-19 has changed the way they think about planning for their financial future, and 93% say that […]
AIG to Participate in the Credit Suisse Virtual Financial Services Forum
{February 24th, 2021} by American International Group, Inc
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today announced that Mark Lyons, AIG’s Chief Financial Officer, and Sabra Purtill, AIG’s Deputy Chief Financial Officer and Treasurer, will participate in a fireside chat at the Credit Suisse Virtual Financial Services Forum on Friday, February 26, 2021 at 10:30 a.m. ET. A link to the audio […]
AM Best Affirms Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries
{February 24th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG] and collectively are referred to as Principal. Concurrently, AM Best has affirmed the Long-Term […]
Symetra Named ‘Corporate Leader of the Year’ by Greater Seattle Business Association
{February 24th, 2021} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company was recognized as the 2020 Corporate Leader of the Year by the Greater Seattle Business Association (GSBA) during the organization’s 40th annual Business & Humanitarian Awards, held virtually last night. The annual event honors Puget Sound businesses, nonprofit organizations, and community leaders who demonstrate leadership and success in their business […]
AM Best Affirms Credit Ratings of Symetra Financial Corporation and Its Subsidiaries
{February 24th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of Symetra Life Insurance Company and its subsidiary, First Symetra National Life Insurance Company of New York (New York, NY), together referred to as Symetra Life Group. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” and […]
Latest Variable Universal Life Offerings from Lincoln Financial Provide New Options for Guaranteed Protection and Market Growth Opportunities
{February 24th, 2021} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) has launched its latest Lincoln VULONE and Lincoln Survivorship VULONE (SVULONE) variable universal life (VUL) insurance offerings. The new VULONE products offer two guaranteed minimum death benefit choices so clients can tailor their policy to their specific needs – from the cost of the coverage to the length and amount. They are now also […]
American Family Insurance commits $105 million to help close equity gaps under ‘Free to Dream’ initiative
{February 24th, 2021} by American Family Insurance
MADISON, Wis.–(BUSINESS WIRE)–American Family Insurance today unveiled Free to Dream, a $105 million commitment over the next five years to continue its work to help close equity gaps and improve the quality of life for communities. American Family will sharpen its focus on five major societal issues – which the company is calling its Free to Dream […]
American Equity Reports Fourth Quarter and Full Year 2020 Results
{February 24th, 2021} by American Equity
WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs) today reported fourth quarter 2020 net loss available to common stockholders of $6.3 million, or $(0.07) per diluted common share, compared to net income available to common stockholders of $220.2 million, or $2.40 per diluted […]
Principal Financial Group Announces Shareholder Value Initiatives
{February 24th, 2021} by Principal Financial Group
DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) today announced steps to enhance shareholder value by initiating a strategic review of its business mix, capital management, and capital deployment options. Principal® will be adding two new independent directors to its Board of Directors, Maliz Beams and a second director to be named at a later date. These […]
Luma Partners with Insurance Technologies to Bring Annuities Solution to Market
{February 24th, 2021} by Luma
CINCINNATI–(BUSINESS WIRE)–Luma Financial Technologies (“Luma”), an independent, multi-issuer structured products and annuities platform, announced today that they have selected Insurance Technologies, LLC, provider of FireLight®, a multi-carrier end-to-end insurance and retirement sales platform, as its latest partner to bring their annuities solution, “Luma Annuities,” to market. The Luma platform, which is backed by three of […]
Pacific Life Named One of the 2021 World’s Most Ethical Companies
{February 24th, 2021} by Pacifid Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has been named one of the 2021 World’s Most Ethical Companies® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. Pacific Life was evaluated on five categories, including: its ethics and compliance program; culture of ethics; environmental and societal impact; corporate governance; and leadership […]
Pacific Life Launches Fee-Friendly Advisory Variable Annuity
{February 24th, 2021} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Continuing the goal of expanding offerings tailored to registered investment advisors (RIAs), Pacific Life today announced that it has added a no-load, fee-friendly, investment-only variable annuity to its suite of advisory annuities. Designed specifically to fit within the RIA and fee-based financial professional’s business model, Pacific Advisory Variable Annuity can help address a […]
Financial Institutions To Significantly Increase Use Of Gig Economy Workers
{February 24th, 2021} by Insurance Forums Staff
22 February 2021 – More than half (52%) of financial institutions say they expect to have more gig-based employees over the next three to five years, according PwC’s report, “Productivity 2021 and beyond: Upskilling the workforce of the future to create a competitive advantage in financial services.” Click HERE to read the full story via […]
The Pandemic Will End – These Trends Will Continue
{February 24th, 2021} by Rich Blake
As more Americans get fully vaccinated and spring rolls into summer, there is seemingly at long last some light at the end of the tunnel. And when the pandemic fades from memory, members of the advisory industry say, there are going to be a number of game-changing trends that are here to stay. Click HERE […]
2021 Insurance Regulatory Outlook
{February 24th, 2021} by Insurance Forums Staff
To call 2020 a difficult and challenging year is to state the obvious. However, it is often the less obvious ripple effects from a crisis that have the biggest, most enduring impacts. In 2020, COVID-19 affected every person on the planet to some degree. But its full long-term impact on the global economy—and on how […]
Interest in careers as life insurance agents soars in 2020
{February 24th, 2021} by Insurance Forums Staff
COVID-19 and social distancing measures upended many industries resulting in a record-high unemployment rate of 14.7% in April 2020. While the economy is slowly recovering, some market sectors continue to struggle. According to the Bureau of Labor Statistics, jobs in hospitality, transportation, health services and construction were among the greatest hit by the recession. New LIMRA […]
Want More Tax-Free Retirement Income? One Man’s Whole Life Decision
{February 24th, 2021} by Michael Aloi
Jim is 53 and a longtime client. He is in sales, earning decent money. Lately, he is thinking more about retirement. He wants to create a stream of income to supplement Social Security. However, he does not want to invest more in the stock market. He feels he has enough at risk in his 401(k) […]
MetLife and Principal to Provide Annuity Benefits to Philips North America, LLC Retirement Participants
{February 23rd, 2021} by Principal Financial Group
NEW YORK–(BUSINESS WIRE)–Principal Financial Group® and Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc. (“MetLife”), announced today they entered into an agreement with Philips North America LLC (“Philips”) to transfer approximately $1.2 billion of Philips North America Pension Plan obligations to Principal Financial Group® (“Principal”) and MetLife. The agreement, which was signed in the fourth […]
Equitable Holdings Reports Full Year and Fourth Quarter 2020 Results
{February 23rd, 2021} by Equitable Holdings, Inc
NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (“Equitable Holdings,” “Holdings,” or the “Company”) (NYSE: EQH) today announced financial results for the full year and fourth quarter ended December 31, 2020. “Against the backdrop of a historic health and economic crisis, I am pleased to report strong results for Equitable in the fourth quarter of 2020 with assets […]
Envestnet Reveals New ‘Personal Financial Ecosystem’
{February 23rd, 2021} by Jeff Berman
Envestnet is building a new “personal financial ecosystem” that aims to educate consumers and help them better connect with financial professionals — while also improving the user experience and data-sharing capacity of both advisors and consumers. “The digital engagement model is not very fulfilling in financial services today,” said Envestnet CEO Bill Crager in an […]
Northwestern Mutual Expands New York City Presence
{February 23rd, 2021} by Northwestern Mutual
MILWAUKEE, Feb. 17, 2021 /PRNewswire/ — Northwestern Mutual, a financial security company focused on comprehensive financial planning through both insurance and investments, is announcing the opening of two new offices within the New York City area in Harlem and Cedarhurst. “This exciting expansion is an opportunity to deliver financial planning solutions to historically underserved communities,” said Tim Gerend, chief distribution officer, Northwestern Mutual. “We’re […]
Fidelity National Financial, Inc. Announces Quarterly Cash Dividend of $0.36
{February 23rd, 2021} by Fidelity National Financial, Inc.
JACKSONVILLE, Fla., Feb. 17, 2021 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE:FNF) (the “Company”) today announced that its Board of Directors has declared a quarterly cash dividend of $0.36 per share. The dividend will be payable March 31, 2021, to stockholders of record as of March 17, 2021. About Fidelity National Financial, Inc. Fidelity National Financial, Inc. (NYSE: FNF) is a leading provider of […]
John Hancock Closed-End Funds Release Earnings Data
{February 23rd, 2021} by John Hancock Investment Management
BOSTON, Feb. 23, 2021 /PRNewswire/ – The eight John Hancock Closed-End Funds listed in the table below announced earnings1 for the three months ended January 31, 2021. The same data for the comparable three month period ended January 31, 2020 is also available below. Three Months Ended 1/31/2021 Ticker Fund Name Current Fiscal Year End Net Investment Income Per Common Share NAV […]
Guaranteed Lifetime Income Study (GLIS): New White Paper Reveals Significant Impact of COVID-19 Pandemic on Consumer and Financial Professional Attitudes to GLI Products
{February 23rd, 2021} by Greenwald Research and CANNEX
WASHINGTON, Feb. 17, 2021 /PRNewswire/ — A new white paper from Greenwald Research and CANNEX analyzing research conducted in the days prior to the pandemic and a follow-up study fielded in the midst of the pandemic paints a complex picture of the effect of the COVID crisis on consumer and financial professional perceptions of guaranteed lifetime income. […]
John Hancock Retirement State of the Participant 2021 study highlights retirement security and preparation in spite of a challenging 2020
{February 23rd, 2021} by John Hancock Retirement
BOSTON, Feb. 22, 2021 /PRNewswire/ – John Hancock Retirement continues to observe retirement readiness in participants despite the impact of the COVID -19 pandemic. Throughout 2020, the majority of the more than 1.1 million participants in over 1,000 John Hancock open architecture defined contribution (DC) plans lost relatively little ground in their efforts to save for a secure retirement. From October 1, […]
TIAA Named One of 2021 World’s Most Ethical Companies® by the Ethisphere Institute for the Seventh Consecutive Year
{February 23rd, 2021} by TIAA
NEW YORK, Feb. 23, 2021 /PRNewswire/ — TIAA, the leading provider of financial services in the academic, research, medical, cultural and government field, received its seventh consecutive annual recognition as one of the 2021 World’s Most Ethical Companies® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. “For over a century, […]
Simplicity Group Expands Distribution with the Acquisition of Advisors Financial Group and Welcomes Greg Patterson as New Partner
{February 23rd, 2021} by Simplicity Group Holdings
SUMMIT, N.J., Feb. 23, 2021 /PRNewswire/ — Simplicity Group (“Simplicity”) is pleased to announce that it has added Advisors Financial Group, an independent life and annuity insurance distribution business, to the Simplicity Group of companies. As part of this expansion, Simplicity welcomes Greg Patterson, as its newest partner and shareholder, through a transaction that closed effective February 1. “Simplicity is […]
Access to Guaranteed Lifetime Income Boosts Employee Confidence, Retirement Savings During Pandemic According to New Survey
{February 23rd, 2021} by TIAA
NEW YORK, Feb. 23 2021 /PRNewswire/ — Helping employees save for retirement remains a priority for a substantial majority (74 percent) of employers and, despite economic uncertainty, more than three in ten employees say they increased their retirement savings contributions in the last year, according to the TIAA Retirement Insights Survey. Further, 80 percent of employees who have […]
Rollovers Are Fiduciary Advice Under New DOL Rule
{February 23rd, 2021} by Melanie Waddell
Advisors, take heed: The recently approved Trump Labor Department fiduciary prohibited transaction exemption, which took effect Tuesday, treats rollovers as fiduciary advice. “People have made the argument that rollovers cannot be fiduciary advice because it’s a one-time recommendation,” Brad Campbell, partner at Faegre Drinker in Washington, said Tuesday on the firm’s webcast, “What Lies Ahead […]
Annuity industry shifts focus as RILA sales jump in 2020
{February 23rd, 2021} by Jason Woleben, Hailey Ross
Some insurers are getting out of what was once a robust market for variable annuities with optional living benefits riders as interest rates plummet. Years of low interest rates have been a challenge for U.S. life insurers, but the additional rate drops during the COVID-19 pandemic made it even more difficult for companies to price […]
Learning Professional
{February 23rd, 2021} by N/A
About the job Do you enjoy working on projects that deliver tangible results? Do you have experience designing and delivering learning solutions, managing change, and helping people build new skills in a corporate environment? Are you naturally curious? Do you continuously scan your environment for opportunities? The Learning Professional is an experienced learning designer who is comfortable […]
Regional Sales Manager – PA, WV, OH
{February 23rd, 2021} by N/A
About the job Description American Equity is looking for this sales leader to be based in one of the following locations: Pennsylvania, West Virginia, Ohio or West Des Moines, Iowa. General Purpose Of The Job The Regional Sales Manager is responsible for driving sales in a specific territory of the country, including accountability for working […]
Evolutionary Distribution Channel
{February 17th, 2021} by Sheryl J. Moore
Late-night, sleep-deprived idea; how about we- 1. Save the insurance distribution from “dying off;” 2. Recruit more people of color into this business; 3. Recruit more females into this business; & 4. Create an “income glidepath” for those newly-entering the insurance business? This provides salespeople the financial (safety?)/support that they need in the early years […]
Brighthouse Sees Strong Annuity Sales, But Expects Decline In 2021
{February 17th, 2021} by John Hilton
While Brighthouse Financial fixed annuity sales were great in the fourth quarter, the company does not expect that to continue into 2021, said Conor Murphy, executive vice president and chief operating officer. Fixed annuities represent a small share of the Brighthouse annuity line, but was a recent bright spot for sales. However, rates decreased from […]
IRS Sends Security Benefit an Annuity Advisory Fee Letter Ruling
{February 17th, 2021} by Allison Bell
Security Benefit today said that it has an Internal Revenue Service interpretation that should make offering fee-based annuities cheaper and easier, both for the fee-based advisors and for the clients. The Topeka, Kansas-based company has received an IRS private letter ruling that will allow the company to pay fees to advisors directly from an annuity […]
MDRT Revises Production Requirements For 2021
{February 17th, 2021} by MDRT
PARK RIDGE, Ill. (Feb. 9, 2021) — Throughout its nearly 100-year history, MDRT has evolved alongside the financial services profession, adapting and innovating its leading production requirements to best serve top financial professionals worldwide. In the face of last year’s business challenges, MDRT innovated once more, adjusting 2021 production requirements to ensure equal opportunity for qualified financial services […]
DOL Investment Advice Rule Takes Effect — What Does That Mean?
{February 17th, 2021} by John Hilton
The Department of Labor’s investment advice rule takes effect today, but that does not entirely clear up the mystery of what future annuity sales rules will look like. There are still plenty of options on the table for the Biden administration to reshape the rule — a holdover from the Trump administration. The investment advice […]
The Cost Of Waiting To Buy An Annuity
{February 17th, 2021} by John Williams
During times of economic uncertainty, it’s common for people to be concerned about their retirement, and how options like deferred annuities can fit in. After a record year for low interest rates, there may be indecision about purchasing a fixed annuity now, or waiting until rates increase. Even in a low interest-rate environment, an annuity […]
A New Approach to Life Sales
{February 17th, 2021} by Scott Stathis and contribution from Robert Mittel and Janet Cappelletti
For as long as those of us who have spent their careers working in the bank and credit union channel can remember, there is possibly only one thing that has not changed: we are bad at selling life insurance. Put another way, for institutions that are supposed to be helping people manage and grow their […]
DOL Goes Ahead with Trump-Era Fiduciary Exemption Rule as Planned
{February 17th, 2021} by Alex Padalka
The Department of Labor says that it’s implementing, as scheduled, an exemption for investment advice fiduciaries devised during the Trump administration. “Improving Investment Advice for Worker & Retirees,” as the rule is known, provides for an exemption that essentially allows investment advisors, broker-dealers and other investment professionals and institutions to collect various payments, including 12b-1 […]
Commentary: How the Insurance Industry Is Being Disrupted, and Why Now
{February 17th, 2021} by David Lau
The financial insurance and annuity industries are multi-trillion-dollar industries, and they should be. These products are important components of holistic financial plans for individuals and families. Life and disability insurance can help protect income during wealth-building years, while annuities provide secure lifetime income during retirement, which mitigates significant risks that can derail a retirement plan […]
In Greater Grand Forks, options abound for life insurance coverage
{February 17th, 2021} by Grand Forks Herald (ND)
Feb. 16—Regardless of the stage of life, buying coverage to insure it is part of sound financial planning, say experts in the field. Being insured throughout life’s stages is important because it guarantees that the person’s financial obligations will be covered upon death, said Matthew Anderson, an agent with First International Insurance in Grand Forks. Click HERE to […]
Touchstone to acquire AIG Life & Retirement assets
{February 17th, 2021} by Touchstone
Touchstone Investments, a subsidiary of Western & Southern Financial Group, has entered into a definitive agreement to acquire certain assets of AIG Life & Retirement’s Retail Mutual Funds business. In the proposed transaction, which is expected to close in mid-2021, twelve funds with approximately $7.5 billion in assets will be acquired by Touchstone funds. The […]
Trump DOL Fiduciary Rule to Take Effect Tuesday
{February 17th, 2021} by Melanie Waddell
The Labor Department said Friday that its fiduciary prohibited advice exemption to align with the Securities and Exchange Commission’s Regulation Best Interest will go into effect Tuesday. Labor’s Employee Benefits Security Administration’s PTE, called “Improving Investment Advice for Worker & Retirees,” is “broadly aligned” with Reg BI, according to the Employee Benefits Security Administration. Click HERE […]
Annuity Literacy: The Time Is Right
{February 17th, 2021} by Harry N. Stout
America has a financial and annuity literacy problem. As reported in survey after survey, Americans score very low when asked about basic financial concepts. Building on the same theme, the annual LIMRA Insurance Barometer Study consistently reports low levels of understanding about the basics of annuity products. As if these low knowledge levels were not […]
American College Names Leader Focused on Empowering Black Community
{February 17th, 2021} by Bernice Napach
The American College of Financial Services has named Karim Hill executive director of its Center for Economic Empowerment and Equality, which it launched late last summer. The center is dedicated to helping combat racial inequality and promote wealth creation and upward mobility in the Black community. Its Four Steps Forward pillars include developing the next […]
New Rule on 401(k) Rollovers Takes Effect, as Biden Sticks With Trump-Era Change
{February 17th, 2021} by Anne Tergesen
The Labor Department said late last week that it will build upon a Trump administration regulation governing advice that affects the trillions of dollars in retirement accounts, rather than replace it. The measure, which goes into effect Tuesday, will cause many rollovers, in which hundreds of billions of dollars move annually from 401(k)s to individual […]
Genworth Financial Announces Fourth Quarter 2020 Results
{February 17th, 2021} by Genworth Financial Inc
RICHMOND, Va., Feb. 16, 2021 /PRNewswire/ — Fourth Quarter Net Income Of $267 Million And Adjusted Operating Income Of $173 Million; 2020 Full Year Net Income Of $178 Million And Adjusted Operating Income Of $317 Million U.S. Mortgage Insurance (MI) 2020 Full Year Adjusted Operating Income Of $381 Million; Record New Insurance Written (NIW) U.S. MI’s PMIERs1 Sufficiency Ratio Estimated At 137 Percent, $1,229 Million Above Published […]
New scholarship fund advances women in financial services
{February 17th, 2021} by Ameritas
LINCOLN, Neb., Feb. 16, 2021 /PRNewswire/ — Ameritas is pleased to announce the Ameritas Scholarship for the Advancement of Women in Financial Services. This scholarship will be offered exclusively by The American College of Financial Services to women seeking the Wealth Management Certified Professional® (WMCP®) designation. The WMCP® designation is focused on enhancing how to approach wealth management through core […]
Nationwide Doubles Down on Venture Capital Efforts, Expands Investment Fund to $350 Million
{February 17th, 2021} by Nationwide
COLUMBUS, Ohio, Feb. 11, 2021 /PRNewswire/ — Nationwide is announcing it is expanding its venture capital investment fund to $350 million. The funding will be directed into high-growth potential insurance and financial services startups that directly advance Nationwide’s strategy and enable even greater customer value. “We have had tremendous interest from startups to partner with us and help them […]
Haven Life partners with Waffle, providing more individuals with convenient, no-medical exam life insurance
{February 17th, 2021} by Haven Life
NEW YORK, Feb. 11, 2021 /PRNewswire/ — Haven Life, the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), and Waffle are today announcing a partnership that will allow more individuals to purchase the financial protection they need. Through the collaboration, Haven Simple is featured as the only term life insurance product available for […]
Transamerica Enhances Customer Experience with Remote Online Notary Service
{February 17th, 2021} by Transamerica
BALTIMORE, Feb. 10, 2021 /PRNewswire/ — Transamerica announced today the enhancement of retirement plan participants’ online experience by offering a new way to notarize a number of documents without leaving the comfort and safety of home via remote online notarization. Through a collaboration with remote online notarization pioneer Notarize, Transamerica gives plan participants the choice to use […]
Commonwealth Adds IT, Information Security Leaders
{February 17th, 2021} by Jeff Berman
Commonwealth Financial has made two key additions to its information technology and information security leadership teams as it preps for future growth. Mukund Ravipaty was named chief information security officer, while Garreth Speer was named vice president, IT infrastructure. “Both positions will be instrumental in broadening Commonwealth’s cloud technology strategy and enhancing its security posture as the […]
New Annuities Language Glossary Brings Clarity and Simplicity to Critical Asset Class
{February 17th, 2021} by Alliance For Lifetime Income
WASHINGTON, Feb. 16, 2021 /PRNewswire/ — The Alliance for Lifetime Income, a non-profit consumer education organization devoted to helping Americans address the risk of outliving their retirement income, today released the Second Edition of its Annuities Language Glossary. This new resource for consumers and financial professionals builds on the original glossary by adding new terms and definitions to reduce complexity and […]
Next Generation of Long-Term Care Solutions Provides Guaranteed Protection, Offers Flexible Care and Payment Options and the Opportunity for Growth Through Investment Performance
{February 17th, 2021} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–To help address the concerns of 87% of Americans who say that having a long-term care solution would help them feel more confident about their financial future2, Lincoln Financial Group (NYSE: LNC) today launched MoneyGuard Market AdvantageSM a variable universal life insurance policy with a long-term care rider that helps cover qualified long-term care expenses. […]
Equitable Retirement VisionSM Launches with Enhanced Features and Services
{February 17th, 2021} by Equitable
NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today unveiled Equitable Retirement VisionSM, a new platform for ERISA and non-ERISA retirement plans. Equitable Retirement VisionSM offers new features and services for plan sponsors and participants, including: A managed account option, reflecting professional advice for an integrated investment strategy and […]
Jackson Announces Leadership Changes Led By New CEO Laura Prieskorn
{February 17th, 2021} by Jackson Financial Inc.
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.¹ (“Jackson”), today announced leadership changes ahead of the company’s planned separation from Prudential plc (“Prudential”). The changes follow a February 10, 2021 announcement from Prudential, which named Laura Prieskorn Chief Executive Officer of Jackson and Marcia Wadsten Chief Financial Officer of Jackson. Along with these changes, Michael Falcon and Axel […]
Security Benefit Gains Favorable Tax Treatment for Advisory Fees on Annuity Contracts
{February 17th, 2021} by Security Benefit
TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit today announced that it has received a favorable private letter ruling (PLR) from the Internal Revenue Service (IRS) that payment of certain investment advisory fees from an annuity contract are not treated as a taxable event by the contract owner. This provides financial professionals and their clients with greater flexibility to […]
Fierce fiduciary debate awaits Biden’s SEC pick
{February 17th, 2021} by Tobias Salinger
As fiduciary advocates and brokerage firms await the expected confirmation of a new SEC chair, they’re lining up on opposite sides of a fierce ongoing debate over fiduciary rules: do they go too far, or not far enough? The Institute for the Fiduciary Standard and the Financial Services Institute each held events in the past […]
CORRECTING and REPLACING Aquarian Holdings Announces Agreement to Acquire Pavonia Life Insurance Company of New York
{February 17th, 2021} by Aquarian Holdings
NEW YORK–(BUSINESS WIRE)–Last sentence of the release should read: RBC Capital Markets acted as financial advisor…(instead of RBC Global Markets acted as financial advisor…). The updated release reads: AQUARIAN HOLDINGS ANNOUNCES AGREEMENT TO ACQUIRE PAVONIA LIFE INSURANCE COMPANY OF NEW YORK Aquarian Holdings (“Aquarian”) announced today that it has entered into a definitive agreement to […]
The real reason Black Americans have less life insurance coverage
{February 17th, 2021} by Georgia Rose
The relationship between life insurance and the African American community is complex. Although Black Americans are more likely to own life insurance than whites, a recent study shows, their coverage is often far less. The sizable coverage gap between Black and white Americans has many causes, experts say, including the way life insurance was sold […]
EMC Receives 2021 Top Workplaces USA Award
{February 17th, 2021} by EMC
DES MOINES, Iowa (Jan. 28, 2021)—EMC Insurance Companies has earned a 2021 Top Workplaces USA award from Energage, an organization focused on building and branding Top Workplaces across the country. This is the inaugural year for Top Workplaces USA, built on the program’s 14-year history surveying more than 20 million employees across 54 markets for regional […]
Retirement Income Consultant of the Year Award
{February 17th, 2021} by Mike McGlothlin
Nicholas Bond earned the Retirement Income Consultant of the Year Award for 2020 at Ash Brokerage. He helped his advisors grow through education, personal attention, and helping them with ideas, marketing, and case development. Thanks for all you do for the advisors in your territory, Nick!
Virtual industry events offer strong content lineup in February
{February 17th, 2021} by Insurance Forums Staff
While live, in-person conferences may still be a few months away, that doesn’t mean there aren’t some great events on tap this month for life insurance professionals. NAILBA and LIMRA are both hosting virtual events this month with some high-profile headliners. Click HERE to read the full story via Insurance Forums
Insurtech News: Bestow partners with Lemonade; Oscar readies IPO
{February 17th, 2021} by Insurance Forums Staff
Bestow is bringing its digital life insurance infrastructure to a leading P&C insurer. Dallas-based Bestow, which bills itself as “the first full-stack life insurance company,” just announced a new partnership with Lemonade, the insurtech unicorn known for its homeowners, renters and pet insurance, which recently launched life insurance. Click HERE to read the full story […]
Annuity sales tumble but drive mega deals and RIA partnerships
{February 17th, 2021} by Tobias Salinger
And, in addition to the billions in sales among new RILAs launched in 2020 by issuers such as Prudential Financial, earlier entrants like Equitable, Brighthouse, Allianz and Lincoln Financial Group are raking in purchases of the products, says Sheryl Moore, CEO of annuity research firm Wink. RILA sales surged by 38% year-over-year in 2020 to $24 […]
Prudential Quietly Preps New Annuity After $2B FlexGuard Success
{February 17th, 2021} by Cyril Tuohy
With buffered annuities in existence for only about a decade, “These products are still immature in terms of the product life cycle,” said Sheryl Moore, CEO of Wink, the publisher of Wink’s Sales & Market Report. Click HERE to read the full story via Life Annuity Specialist
Wink. Different. Better.
{February 10th, 2021} by Sheryl J. Moore
Wink: A third-party market research firm. Wink tracks life insurance & annuity companies, products, their features, rates, sales, & marketing since 2005. Different: Insurance companies do not have to pay to participate in Wink’s services. Participating subscribers all pay the same price for a subscription. Better: Wink tracks sales metrics that are meaningful, standardized, and […]
Insure Your Love
{February 10th, 2021} by Wink's RockStars
February is #InsureYourLove Month. This Valentine’s Day, don’t forget what is important.
Presidents’ Day
{February 10th, 2021} by Jamie Johnson
The Wink offices will be closed on Monday, February 15th in observance of the holiday.
Retirement Inside Out Podcast
{February 10th, 2021} by Financial Independence Group
Check it out. Tom Lamendola and I will give you the skinny on what’s going on with annuities. – sjm
