Fixed Index Annuity: Why It’s Gaining Popularity Now
{April 2nd, 2024} by Marguerita Cheng
Every day, 12,000 baby boomers in the United States reach the age of 65, according to the Census Bureau. By 2030, all baby boomers will be 65 or older. One consequence of this demographic trend is that the investment objective of baby boomers has shifted from a desire for growth to a need for protection. […]
The real cost of volatility-controlled indices in IUL policies
{April 2nd, 2024} by Nick Pratt
Over the past 25 years, indexed universal life policies have become arguably the most complex life insurance products on the market — both for better and for worse. One feature of today’s IULs is the volatility-controlled index. These index strategies are referred to by several different names in our industry: VCIs, proprietary indices and engineered […]
Ameritas Celebrates 17th Center of Excellence Certification
{April 2nd, 2024} by Ameritas
LINCOLN, Neb., March 29, 2024 /PRNewswire/ — The group division of Ameritas proudly announces its 17th consecutive certification as a BenchmarkPortal Center of Excellence, solidifying its position as a leader in customer service and support excellence. This prestigious recognition for 2023 underscores Ameritas’ commitment to meeting and exceeding the highest standards in the industry. The BenchmarkPortal Center […]
Unity Builds Dynamic Legacy of Growth and Innovation by Partnering with Integrity
{April 2nd, 2024} by Integrity Marketing Group, LLC
Agency focused on serving diverse community of agents and clients turns to Integrity for next era of growth fueled by access to Integrity’s transformative technology-focused Suite of Solutions DALLAS, March 26, 2024 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today […]
Integrity Co-Founder & CEO Bryan W. Adams Named One of the Top 100 CEOs in the Country
{April 2nd, 2024} by Integrity Marketing Group, LLC
DALLAS, March 28, 2024 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), one of the leading independent distributors of life, health and wealth products, today announced that Integrity Co-Founder and CEO Bryan W. Adams has been recognized as a top CEO for large companies in the United States. Adams is joined on the list by highly acclaimed executives from Adobe, Instacart, […]
Social Security Prospecting Is Bait And Switch
{April 2nd, 2024} by Charlie Gipple, CFP, CLU, ChFC
One of the top ways that my agents get in front of consumers is by them—the agent—understanding Social Security retirement benefits in order to help their clients file correctly. Some folks who have never really dug into Social Security filing strategies will say that Social Security is a “bait and switch” method of getting in […]
Broker Words—April 2024
{April 2nd, 2024} by Stephen Howard
This one is a real punch in the gut. It is my sad duty to report the passing of a wonderful friend and one of our industry’s most diligent and beloved heroes, Ed Murray, Murray & Zuckerman, Inc., Schenectady, NY. After graduating with a degree in finance, Ed served as a combat veteran in the […]
Estate Planning: The Irrevocable Life Insurance Trust
{April 2nd, 2024} by Bowditch & Dewey, Eileen Lee Breger
This post has been updated as of March 28, 2024, to reflect changes to the Massachusetts estate tax exemption. There is a common misconception that life insurance benefits are not subject to estate tax. While the proceeds of a life insurance policy are not taxable income to the beneficiaries, they are part of a person’s […]
How Financial Literacy Month Can Help You, Too
{April 2nd, 2024} by Kevin Luebbers
For the past two decades, many in the financial services industry have marked April by observing Financial Literacy Month. The month is dedicated to helping Americans gain knowledge and skills to manage their personal finances effectively and build generational wealth. This April, as financial professionals discuss educational resources with their clients, it is also the […]
FBI Hunts Iowa Advisor Charged With $1.5M Fraud
{April 2nd, 2024} by Dinah Wisenberg Brin
The Federal Bureau of Investigation is searching for an Iowa financial advisor accused of money laundering and wire fraud. William Jack Berg, 51, allegedly defrauded more than a dozen client investors in a scheme that caused them to lose over $1.5 million, according to the FBI, which lists him on its Most Wanted page for […]
Abacus Aims to Sell In-Force Policies to the Insurers
{April 2nd, 2024} by Allison Bell
A company that buys in-force life insurance policies from the customers hopes to sell some of the policies to life insurance companies. Jay Jackson, the CEO of Abacus Life, talked about his company’s efforts to sell policies to life insurers last week, during a conference call the company held to go over results for the fourth quarter […]
Nationwide to offer term life insurance through local independent agencies
{April 2nd, 2024} by Nationwide
Columbus, OH – Nationwide is now offering term life insurance through local independent agencies to protect more people, businesses and futures with extraordinary care. Nationwide Brokerage Solutions (NBS) and its 14,500 affiliated local agencies will get access to Nationwide’s best-in-class underwriting process and products, delivering fast and competitive decisions and solutions to succeed in selling term life insurance. The shared […]
WealthVest adds new wholesale team to add to growing Aspida annuities sales
{April 2nd, 2024} by Steve Randall
WealthVest has deployed a new nationwide distribution team to focus on its partnership with life insurance and annuities firm Aspida. Click HERE to read the full story via InvestmentNews
Getting to know our Market Research Maven
{March 26th, 2024} by Wink's Intel Pros
THIS MARKET RESEARCH MAVEN IS ON THE JOB! Cathy, Market Research Maven is the Wink team member who has known Sheryl J. Moore the longest. They have known each other since TLC “didn’t want no scrubs,” and she is definitely the most easygoing person you will ever meet! While she is just as likely to […]
Delaware Life Insurance Company Launches Innovative Fixed Index Annuity with Premium Bonus: PrimeStart Bonus 10℠
{March 26th, 2024} by Delaware Life Insurance Company
WALTHAM, Mass.–(BUSINESS WIRE)–Delaware Life Insurance Company (“Delaware Life”) has launched an innovative, flexible-premium fixed index annuity featuring a premium bonus. PrimeStart Bonus 10℠ offers an exclusive trifecta of features combining the power of a 10% premium bonus, interest crediting that’s based on the lowest index value in the first 90 days after contract issue, and […]
Allianz Life Launches New Accumulation Annuity
{March 26th, 2024} by Allianz Life
MINNEAPOLIS – March 19, 2024 – Allianz Life Insurance Company of North America (Allianz Life) announced today that its newest accumulation-focused product, Allianz Accumulation Advantage+TM Annuity, is now available. Allianz Accumulation Advantage+TM is a fixed index annuity that combines powerful accumulation potential with a premium bonus[i], signature Allianz innovations and flexible design. Allianz has also recently added a […]
MassMutual Ascend Adds the First Trust Barclays Edge Index to Its Suite of Fixed-Indexed Annuities
{March 26th, 2024} by MassMutual Ascend
CINCINNATI–(BUSINESS WIRE)–MassMutual Ascend announced the addition of the First Trust Barclays Edge Index to its fixed-indexed annuities. The First Trust Barclays Edge Index is a multi-asset index seeking to provide equity and fixed income exposure through a combination of indices, including Capital Strength™ Index and Value Line Dividend™ Index, while aiming to control risk by […]
Heartland National Introduces A New Retirement Solution With A Multi-Year Guaranteed Annuity
{March 26th, 2024} by Heartland National Life Insurance Company
KANSAS CITY, Mo., March 21, 2024 (Newswire.com) – Heartland National Life Insurance Company, a trusted leader in insurance solutions, proudly announces the launch of its latest groundbreaking product, Heartland’s Secure Rate MYGA. The Company’s new product is designed to tackle retirement challenges head-on by providing unparalleled stability and growth while shielding customers from market risk. […]
Transamerica Parent on Acquirer’s Radar, Bloomberg Says
{March 26th, 2024} by Warren S. Hersch
Transamerica Financial Foundation was the top-selling indexed universal life product for all channels combined for the 11th consecutive quarter, according to newly released results from Wink‘s Sales & Market Report. Transamerica ranked second after National Life in overall indexed life sales. Click HERE to read the full story via Life Annuity Specialist
Pacific Life and Employee Navigator Unveil Innovative Integration
{March 26th, 2024} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life today announced its integration with Employee Navigator, one of the nation’s leading benefits administration platforms, automating employee benefits management with the advantages of application programming interface (API) technology. Through this collaboration, Pacific Life’s Workforce Benefits products are available to groups of all sizes. Erich Sternberg, senior vice president and head […]
Insurance industry to be impacted by 3 trends in 2024, says expert
{March 25th, 2024} by Susan Rupe
The U.S. insurance industry will be impacted by three distinct trends in 2024, according to a KPMG leader who analyzes the insurance industry. Calling the industry “healthy and strong,” Scott Shapiro, KPMG U.S. insurance sector leader, said, “We’ve never been without serious challenges but we continue to perform our function in society – managing risk. […]
Regulators consider guideline to best-interest rule to address ‘deficiencies’
{March 25th, 2024} by John Hilton
State insurance regulators plan to issue guidance on its best-interest annuity sales model after reviews turned up “deficiencies” in producer monitoring. Iowa Insurance Commissioner Doug Ommen discussed the reviews and coming guidance at the Life Insurance and Annuities Committee meeting Sunday. The committee met during the National Association of Insurance Commissioners’ spring meeting in Phoenix. […]
Will RIAs Start Using Fixed Rate Annuities in Portfolios?
{March 25th, 2024} by David Blanchett
The notable rise in bond yields starting in 2022 has changed the investment landscape, especially for fixed income-related strategies. In addition, taxes have become more important, increasing the importance of asset location. Annuities are relatively underused by investment advisors, whether they are viewed more from an investment-related lens or as a product that provides protected […]
New York Life Names Matt Wion to Lead Retail Annuities
{March 25th, 2024} by Allison Bell
New York Life has picked Matt Wion to run its retail annuity business. Wion has been the chief financial officer for a unit that handles many different types of products, including institutional life insurance and institutional annuities. He will succeed Todd Taylor, who previously held that post and is now head of New York Life’s […]
29.5% of indexed annuity sales…
{March 25th, 2024} by Sheryl J. Moore
I did some research yesterday and found out that 29.5% of indexed annuity sales are through insurance companies with private equity ownership. While on that topic, ThinkAdvisor has a provocative article you may want to read. Click HERE to read Protect Annuity Issuers From Bad Advisor Affiliates: Regulators Join in the LinkedIn discussion here. […]
Raymond James Taps Next CEO
{March 25th, 2024} by John Manganaro
Raymond James Financial announced Tuesday that Chief Financial Officer Paul Shoukry has been appointed president, effective immediately, and he is expected to become the firm’s next CEO sometime during fiscal 2025. Once the planned succession process is complete, Shoukry would become the fourth chief executive in the company’s history, following Paul Reilly in the role. […]
In The Workplace: The Case For Long-Term Care Insurance And Disability Insurance
{March 25th, 2024} by Marc Glickman
More employers are considering a long-term care insurance benefit for their employees. This additional benefit can help attract and retain great talent and also help employees better plan for their own futures. Since many employers already offer disability insurance (DI), there may be some confusion around the need for long-term care insurance (LTCi) and the […]
Wrong
{March 25th, 2024} by David J. Murphy
“The fact that man knows right from wrong proves his intellectual superiority to the other creatures; but the fact that he can do wrong proves his moral inferiority to any creatures that cannot.”—Mark Twain In Iasi, Romania, I met an engaging 17- or 18-year-old woman named Sophia. She is a Ukrainian refugee. Sophia escaped the […]
Rethinking Seminar Prospecting
{March 25th, 2024} by Charlie Gipple, CFP, CLU, ChFC
After everybody being “locked down” a few years ago, educational seminars are back and stronger than ever. And make no mistake, seminars are a powerful prospecting tool…the most powerful, at least in my opinion. With a seminar, you have an hour of uninterrupted time where you can build credibility with your audience by showing your […]
Regulators resolve to check up on products for illustration integrity
{March 25th, 2024} by John Hilton
State insurance regulators are tired are trying to keep up with life insurers that quickly skirt attempts to tamp down illustrations. Instead of further rulemaking, regulators are going directly to the products. The Indexed Universal Life Illustration Subgroup is “looking at specific company examples” of both IUL and annuities that use illustrations, said Fred Anderson […]
Sheryl Moore: The Insurance Industry’s Scorekeeper
{March 25th, 2024} by David Macchia
Even in a giant industry like insurance, some people stand out in a special way. Such an individual is Sheryl Moore, Founder and CEO of Wink Inc. Sheryl is the scorekeeper of the insurance industry. She publishes the industry’s sales results across product types and product lines. But what I admire most about Sheryl is […]
Simplicity Partners with M&O Marketing and Welcomes Dennis and Denise Brown as Partners
{March 25th, 2024} by Simplicity Group Holdings
SUMMIT, N.J., March 21, 2024 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced that it has partnered with M&O Marketing (“M&O”), a leading independent insurance marketing organization in the fixed annuity, life insurance, and long-term care markets. CoreCap, M&O’s affiliate broker/dealer and registered investment advisory firm, was also included in the transaction. Dennis and Denise Brown become Simplicity’s newest Partners […]
Hurt by inflation, Americans yearn for pensions in retirement. One answer may be annuities.
{March 25th, 2024} by Medora Lee
Inflation continues to ravage Americans’ savings, making them nostalgic for a retirement benefit of yesteryear: the pension. Ninety percent of Americans saving in a company retirement plan, such as a 401(k), worry it doesn’t provide a reliable stream of income that can withstand the financial strains posed by inflation, which hit a 40-year high in 2022, according to a survey […]
Athene USA Tops Rankings for Annuity Sales, Pension Group Annuity Volumes
{March 25th, 2024} by Athene Holding
WEST DES MOINES, Iowa, March 12, 2024 (GLOBE NEWSWIRE) — Athene USA (“Athene”), a leading provider of retirement savings products, ranked number one in total annuity sales in LIMRA’s 2023 U.S. Retail Annuity Survey, with a record $35 billion. Athene also ranked first in pension group annuity sales (PGA) in 2023, with $10.4 billion in total volume, […]
ECA Marketing Unveils Advanced Media Production Studio for Agents and Advisors
{March 25th, 2024} by ECA Marketing
Eden Prairie, March 25, 2024 (GLOBE NEWSWIRE) — Eden Prairie, Minnesota – Eden Prairie, MN – March 22nd, 2024 – ECA Marketing, a leading National Annuity and Life Marketing Organization, is proud to announce the launch of its advanced media production studio designed for the independent advisor and insurance producer. This new media production studio […]
Voya Faces Suit Over Universal Life Policy Premium Hike
{March 25th, 2024} by Allison Bell
A 94-year-old Florida woman says financial advisors misrepresented how a universal life insurance policy would perform. The woman, Carolyn Hawkins, believed the universal life policy would have stable premiums, but, instead, the premiums increased to $90,000 in 2022, from $25,000 in 2011, and Hawkins had no choice but to let the policy lapse, according […]
Annuity Owners Show What They’re Really Thinking
{March 25th, 2024} by Allison Bell
Most owners of nonvariable annuities like them, according to new survey results. The National Association for Fixed Annuities hired Greenwald Research, an independent polling firm, to conduct the survey. The sample included 404 U.S. residents ages 50 and older who own a traditional fixed rate annuity or a nonvariable indexed annuity. Click HERE to read the […]
Looking for a safer retirement income stream? Consider annuities
{March 25th, 2024} by Joelle Hall
As you navigate the labyrinth of retirement planning, the resurgence of annuities has sparked renewed interest among people seeking financial security in their golden years. Click HERE to read the full story via MSN. Wink’s Moore on the Market: Getting my highlighter out here… “There are three main types of annuities: life annuities, which guarantee income for […]
Annuity Sales Are Soaring Because of Higher Payouts. What You Need to Know.
{March 25th, 2024} by Debbie Carlson
Higher interest rates are making annuities of all stripes more attractive, allowing buyers a chance to protect their principal and lock in yield before payouts decline. Sales of the insurance product hit a record in 2023 as the combination of volatile equity and bond markets and higher payouts propelled buyers to seek annuities, says Bryan […]
Empower Launches Comprehensive Suite of New Retirement Income Solutions
{March 25th, 2024} by Empower
GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–Empower today announced a comprehensive suite of new partnerships with asset management and insurance providers to offer a market-leading range of in-plan and out-of-plan guaranteed retirement income solutions for investors saving through workplace plans. The new offerings, to be launched in the coming weeks, will offer retirement plans multiple options designed to […]
‘An uphill battle’: Lack of diversity in the financial industry is hurting women long-term
{March 25th, 2024} by Paola Peralta
A lack of diversity in any industry hinders the advancement of the marginalized communities they serve, and in few areas is underrepresentation more apparent than financial services. Women are expected to be the primary beneficiaries in the upcoming $30 trillion wealth transfer, according to a recent report from management consulting firm McKinsey, but with women making up […]
Finseca’s 2024 Hall of Fame Inductees Announced
{March 25th, 2024} by Finseca
WASHINGTON, March 19, 2024 /PRNewswire/ — Finseca is pleased to announce that Anthony T. Mazzei, Sr., Chairman and Founding Partner at National Financial Network, an agency of The Guardian Life Insurance Company of America (Guardian); our first-ever female inductee, Deb White, District Manager at Farm Bureau Financial Services; and Howard Cowan (recognized in memoriam), formerly with MassMutual, were honored last night with the […]
NAIC Fills in the Annuity Suitability Passage Map
{March 18th, 2024} by Allison Bell
Forty-five states have now adopted the annuity sales standard update developed by the National Association of Insurance Commissioners, and three other states — Missouri, Nevada and New Jersey — have update adoption efforts pending, according to a new map developed by an NAIC team. New York state has adopted another annuity sales standard. Click HERE to […]
DOL Fiduciary Rule Is Long Overdue, CFP Board’s Top Lawyer Says
{March 18th, 2024} by Melanie Waddell
Now that the Labor Department has sent its final fiduciary rule to the Office of Management and Budget for review, it’s a good time for advisors to review how the Certified Financial Planner Board of Standards’ Code of Ethics and Standards of Conduct dovetail — or not — with Labor’s plan. Leo Rydzewski, CFP Board’s general counsel, […]
Life Buyers Loosen Up in Q4
{March 18th, 2024} by Allison Bell
A stock market rebound pulled U.S. individual life insurance buyers back toward market-linked products in the fourth quarter of 2023, according to survey data from LIMRA and Wink. Wink focuses on nonvariable permanent life products. Click HERE to read the full story via Think Advisor. Article excerpt: Here’s how Wink saw sales revenue changing for […]
SEC’s Texting Crackdown Rages On, With RIAs Likely Next
{March 18th, 2024} by Jamie Johnson
Fines levied by the Securities and Exchange Commission related to off-channel communications like text messages will continue — with fines against investment advisory firms likely on their way, according to two former SEC attorneys. Off-channel communications is a “continuing hot topic,” Dabney O’Riordan, a partner in Quinn Emanuel’s SEC Enforcement practice, who previously served as the leader of […]
Will RIAs Start Using Fixed Rate Annuities in Portfolios?
{March 18th, 2024} by David Blanchett
The notable rise in bond yields starting in 2022 has changed the investment landscape, especially for fixed income-related strategies. In addition, taxes have become more important, increasing the importance of asset location. Annuities are relatively underused by investment advisors, whether they are viewed more from an investment-related lens or as a product that provides protected […]
Level of financial insecurity remains high, study finds
{March 18th, 2024} by Ayo Mseka
Even though Americans have a more optimistic view of the direction of the U.S. economy than they did a year ago, their feelings of financial insecurity have hit a record high, according to Northwestern Mutual’s 2024 Planning & Progress Study. According to the research, just over half (54%) of U.S. adults think that the U.S. […]
One-third of consumers unaware of life insurance tax benefits, says study
{March 18th, 2024} by Rayne Morgan
Nearly a third of Americans do not realize that they can save on taxes through life insurance, according to a new study by Assurance IQ. Experts suggest this can be a missed opportunity to save money, especially at a time when most consumers are looking to save. “Many Americans are stretched thin financially, which makes […]
Survey: Life insurers want to be better at meeting technology challenges
{March 18th, 2024} by John Hilton
Life insurers know that technology is one of their biggest challenges to capitalizing on the enormous market appetite for life insurance and annuities. And they don’t feel ready to meet that challenge. New survey data from LIMRA and Boston Consulting Group revealed that insurance executives are falling short of their own goals from a technology […]
AM Best Affirms Credit Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries
{March 18th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of Mutual of Omaha Insurance Company and its subsidiaries, United of Omaha Life Insurance Company, Companion Life Insurance Company (Melville, NY) and United World Life Insurance Company. Concurrently, AM Best has affirmed the Long-Term […]
Lincoln Financial Earns DALBAR Award for Excellence in Annuity Illustrations
{March 18th, 2024} by Dalbar
MARLBOROUGH, Mass.–(BUSINESS WIRE)–DALBAR, Inc. is recognizing Lincoln Financial Group for a 5th consecutive year for arming advisors with a vital tool for use in their sales process. The firm sets the standard with annuity illustrations that speak to current and prospective clients with a complete and highly comprehensible picture of how an annuity can address their needs. Lincoln […]
Best’s Special Report: Credit Rating Upgrades in US Life/Health Insurance Segment Slightly Outpace Downgrades in 2023
{March 18th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Issuer Credit Rating (rating) upgrades in the U.S. life/health insurance segments declined to 18 in 2023 from 26 in the previous year, while the number of initial ratings, ratings placed under review and downgrades increased, according to a new AM Best special report. The Best’s Special Report, titled, “US Life/Health Upgrades Slightly Outpace Downgrades in 2023,” […]
Best’s Market Segment Report: US Life/Annuity Insurers Stay the Course, Prepare for 2024 Uncertainty
{March 18th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–The U.S. life/annuity insurance segment remains well-capitalized after a nominal 1.6% increase in statutory capital and surplus through Sept. 30, 2023, from year-end 2022, and steady net income. However, according to AM Best’s annual Review & Preview report on the industry segment, uncertainty and volatility in financial markets, risks contained within certain asset classes and remaining […]
AM Best Affirms Credit Ratings of The Penn Mutual Life Insurance Company and Its Subsidiaries
{March 18th, 2024} by The Penn Mutual LIfe Insurance Company
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 ICRs) of “aa-” (Superior) of The Penn Mutual Life Insurance Company (Penn Mutual Life) (Horsham, PA) and its wholly owned subsidiaries, The Penn Insurance and Annuity Company (Wilmington, DE), Vantis Life Insurance Company (Windsor, CT) […]
New York Life Delivers Record 2023 Results That Reflect Enduring Financial Strength
{March 18th, 2024} by New York Life
NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest1 mutual life insurer, today announced company-record financial results for 2023 that reflect its enduring financial strength. Top-line growth was driven by new company records in insurance sales and assets under management. In addition to posting a company record of $31.9 billion in surplus and $3.1 billion in operating earnings, […]
New iPipeline Technology Enables the Financial Industry to Seamlessly Track the Status of Clients’ Annuity Applications–in Real-Time
{March 18th, 2024} by iPipeline
EXTON, Pa.–(BUSINESS WIRE)–iPipeline®, a leading global provider of comprehensive and integrated digital solutions for the life insurance and financial services industry, announces the launch of OneViewTM, a breakthrough solution* that seamlessly tracks the progress and status of clients’ annuity orders–in real time. Annuities have developed a reputation in the industry as a complex investment product. […]
Mutual of America Capital Management’s MoA Funds Win 10 2024 LSEG Lipper Fund Awards for Best-in-Class Mixed-Asset Target-Date Funds
{March 18th, 2024} by Mutual of America
Company also recognized as best overall small firm in the U.S. Group Award mixed-assets category. NEW YORK, March 14, 2024 /PRNewswire/ — Mutual of America Capital Management LLC (“Capital Management”) is pleased to announce that its target-date series of funds, the MoA Clear Passage Funds™, received 10 2024 LSEG Lipper Fund Awards. Part of a $23 billion fund family, the […]
Ameritas & FastTrack Partner to Implement FastTrack’s Patent Pending Next-Generation Life & Annuity Claims Processing Solution
{March 18th, 2024} by FastTrack
BEDMINSTER, N.J., March 14, 2024 /PRNewswire/ — FastTrack, a leading InsurTech provider of intelligent Digital and Automated AI technology for the life and disability insurance marketplace, went live with Ameritas Life Insurance Corp, a renowned insurance and financial services company. This strategic collaboration aims to provide exceptional value to Ameritas Policyholder Beneficiaries, Agents/Brokers, and internal Claim Advocates. By leveraging […]
Anthony T. Mazzei, Sr. Inducted into Finseca Hall of Fame
{March 18th, 2024} by Finseca
WASHINGTON, March 18, 2024 /PRNewswire/ — Finseca is pleased to announce that Anthony T. Mazzei, Sr., Chairman and Founding Partner at National Financial Network, an agency of The Guardian Life Insurance Company of America (Guardian), will be honored this evening with the prestigious Finseca Hall of Fame Award at the Leaders and Managers Program (LAMP) 2024 in Denver, CO. Mazzei, along with just […]
Transamerica Parent on Acquirer’s Radar, Bloomberg Says
{March 18th, 2024} by Warren S. Hersch
Transamerica Financial Foundation was the top-selling indexed universal life product for all channels combined for the 11th consecutive quarter, according to newly released results from Wink‘s Sales & Market Report. Transamerica ranked second after National Life in overall indexed life sales. Click HERE to read the full story via Life Annuity Specialist
Indexed Life Carriers Raked in Record Sales in 2023, Wink Says
{March 18th, 2024} by Warren S. Hersch
Indexed life sales during October-December period, including both indexed universal and indexed whole products, came to $799.1 million, a 5% increase compared with the figure from a year before, which was itself a record, according to Wink‘s Sales & Market Report. Click HERE to read the full story via Life Annuity Specialist
Lincoln Financial Group Enhances Its Fixed Indexed Annuities With Innovative Crediting Strategies
{March 18th, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) continues to innovate by introducing the 1 Year S&P 500® Dual Trigger (Dual Trigger) account option for its fixed indexed annuities – designed to provide upside growth potential in up, flat and even down markets. The Dual Trigger offers investors a dynamic solution that is adaptive to the market, […]
NAILBA, a Finseca Community, announces appointmentof four new Board of Advisors.
{March 18th, 2024} by NAILBA
NAILBA, a Finseca Community, will be welcoming four new members to its Board of Advisors. The additions are John Felton IV of the Tennessee Brokerage Agency, Jason Kidd of Innovative Solutions Insurance Services, Stacey Lawler of OWR and Brad Mendenhall of Concourse Financial Group. Click HERE to view the Press Release
What Share of a Portfolio Should Go Into Annuities?
{March 18th, 2024} by John Stevenson
Clients often ask me about the exact percentage of the portfolio that should go into annuity contracts. My answer is usually, “It depends.” Every person’s financial needs are different as well as their risk tolerance. Here are some examples of different portfolio allocations for different types of income needs from annuities. Click HERE to read […]
States to Send New CEO Into Annuity Sales Standards Fight
{March 18th, 2024} by Allison Bell
The National Association of Insurance Commissioners has named Gary Anderson to be its new chief executive officer. Anderson will take over as CEO May 1, after his term as Massachusetts’ insurance commissioner ends, NAIC officials announced Saturday in Phoenix, at the group’s spring national meeting. Click HERE to read the full story via Think Advisor […]
Fintech iPipeline unveils annuity order tracker
{March 18th, 2024} by Leo Alamazora
iPipeline, a global fintech provider that caters to the life insurance and financial services sector, is changing the face of annuity management by taking a page from the UberEats playbook. Click HERE to read the full story via InvestmentNews
Annuity sales leaderboard changes as more sales go indie
{March 18th, 2024} by Emile Hallez
Independent agents and independent brokers have become a boon for annuity sales and are responsible for a growing proportion across the business, Click HERE to read the full story via InvestmentNews
Jackson Recognized for Highest Customer Service in Financial Industry for 12th Consecutive Year
{March 18th, 2024} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc.1 (NYSE: JXN), was recently recognized with the “Highest Customer Service — Financial Industry” award for achieving the highest first-call resolution rating in the market in 2023 from Service Quality Measurement Group, Inc. (SQM). Jackson’s outstanding service also earned it the Call Center World Class […]
Wink, Inc. Releases Fourth Quarter, 2023 Life Sales Results
{March 13th, 2024} by Wink's Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE INDEXED LIFE SALES BREAK RECORDS Wink, Inc. Releases Fourth Quarter, 2023 Life Sales Results Des Moines, Iowa. March 12, 2024– Wink, Inc. released the fourth quarter, 2023 life sales results in its 106th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report is the insurance […]
FOURTH QUARTER 2023 LIFE INSURANCE SALES
{March 13th, 2024} by Sheryl J. Moore
Non-Variable UL Sales for the fourth quarter of 2023 were $894 million, compared with sales of $859 million for the fourth quarter of 2022. Fourth quarter non-variable life sales were up nearly 16% when compared to the previous quarter and up more than 4% as compared to the same period last year. Total 4Q2023 non-variable […]
Indexed life sales break records in fourth quarter, Wink reports
{March 13th, 2024} by Staff Reports
Life insurance sales closed 2023 with a very strong fourth quarter, according to Wink’s Sales & Market Report. Non-variable universal life sales for the fourth quarter totaled $894.5 million, up more than 15.5% compared to the previous quarter and up 4.1% compared to the same period last year. Non-variable universal life (UL) sales include both […]
Milliman’s 2023 Fixed Index Annuity Industry Experience Studies show 36% increase in exposure to rising interest rates for contracts without a GLWB
{March 13th, 2024} by Milliman, Inc.
SEATTLE–(BUSINESS WIRE)–Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its two 2023 Fixed Indexed Annuity Industry Experience Studies. These comprehensive studies analyze policyholder behaviors, including factors such as the age when a person attains their policy, length and magnitude of the contract, methods of distribution, and tax implications. The […]
Guinness World Record Life Insurance Policy Issued in Hong Kong
{March 13th, 2024} by Insurance Forums Staff
There’s a new Guinness World Record for the most valuable life insurance policy ever sold, and it’s worth $250 million. Issued and fully underwritten by HSBC Life, global banking giant HSBC’s insurance business in Hong Kong, the record-breaking policy was taken out by an unnamed individual customer earlier this year, the company announced on Feb. 28. […]
American Council of Life Insurers (ACLI) President & CEO Susan Neely Announces Retirement From Association Leadership
{March 13th, 2024} by ACLI
WASHINGTON – American Council of Life Insurers (ACLI) President & CEO Susan Neely announced today that she will retire from association leadership at the end of 2024. “Susan brought vision, strength, and purpose to her leadership of ACLI. She leaves a legacy of impact and inspiration that will serve our industry for years to come,” […]
Greg Lindberg ponders appeal as policyholders await June funds release
{March 13th, 2024} by John Hilton
Embattled entrepreneur Greg Lindberg is weighing options after a North Carolina Court of Appeals decision this week clears the way for his former insurance companies to be liquidated. His adversary, Insurance Commissioner Mike Causey, said long-suffering policyholders could be paid back as early as this summer if Lindberg accepts the ruling. “We are evaluating all of our […]
LIMRA, SPARK Institute gear up to launch fraud-fighting strategy
{March 13th, 2024} by Rayne Morgan
With criminals seeking to plunder American retirement accounts, LIMRA and SPARK Institute are joining forces to address this rising threat with a series of actions and initiatives for the near- and long-term. “Criminals are working together to attack American retirement accounts, so it’s incumbent on industry members to cooperate to defend these accounts,” said Tim […]
Athene takes over as annuity sales leader with 72% growth in 2023
{March 13th, 2024} by John Hilton
“For the second consecutive year, annuity sales have surpassed previously held records, largely due to broader engagement with independent distribution,” said Bryan Hodgens, head of LIMRA research. “Rising interest rates have made annuities very attractive to a larger group of investors who are served by independent advisors and broker dealers. Click HERE to read the […]
Immediate Annuities Can Help Some High-Net-Worth Clients: Tax Attorney
{March 13th, 2024} by Allison Bell
Some wealth advisors turn red, white or gray at the thought of their high-net-worth clients buying annuities. For high-net-worth clients, the concern is that annuities create taxable income. The last thing most wealth advisors want is to increase their clients’ tax bills. Jack Elder, a tax attorney who serves as the senior director of advanced […]
Experts Predict Quick OMB Review of Final DOL Fiduciary Rule
{March 13th, 2024} by Melanie Waddell
Now that the Labor Department’s final fiduciary rule has landed at the Office of Management and Budget for review, industry officials and attorneys anticipate that Labor’s final rule doesn’t include many changes and that there will be a quick review by OMB. Labor filed its final rule at OMB on Friday. Click HERE to read the […]
Life Insurers’ Real Estate Assets Look Good
{March 13th, 2024} by Allison Bell
Owners of empty office buildings could eventually fail, stop making payments and add drama to big U.S. life and annuity issuers’ quarterly financial reports. At this point, though, there’s not much real estate-related drama. Weakness in the commercial real estate sector is “a big risk across the financial markets,” Anika Getubig, an S&P director, said Wednesday […]
Genworth Accused of Wrongly Terminating Life Policies
{March 13th, 2024} by Mason Lawlor
The lead plaintiff in a California state court class-action lawsuit has accused Genworth’s Genworth Life and Annuity Insurance Co. of terminating hundreds of life insurance policies without lawful reminders and allegedly disregarding the grace period provisions required by state law. Click HERE to read the full story via Think Advisor The original version of this […]
Whole Life Gets More Shopper Attention
{March 13th, 2024} by Allison Bell
Whole life insurance was more popular with life insurance shoppers in February, according to new application activity from MIB. Total application activity was 3.7% higher last month than in February 2023, and whole life application activity was 5.9% higher. MIB found that whole life application activity was especially strong for shoppers ages 31 through 59 […]
Insured Retirement Institute Updates Annuity Sellers’ Handbook
{March 13th, 2024} by Allison Bell
The Insured Retirement Institute has published a new version of a free reference book, the “Retirement Saving and Income Handbook.” The handbook provides the institute’s views about the value of annuities, along with a glossary that gives plain-English definitions of such terms as “living benefits,” “roll-up” and “step-up.” Click HERE to read the full story via […]
MoneySmartMovement Partners with Integrity to Bring Greater Opportunities and Hope to Underserved Americans
{March 13th, 2024} by Integrity Marketing Group, LLC
DALLAS, March 12, 2024 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has partnered with MoneySmartMovement, a rapidly expanding independent marketing organization based in Dallas, Texas, and led by Sheena and Matt Sapaula. Financial details of the partnership were not […]
Senior Market Sales® Acquires Seniors Advisory Services, Louisiana’s Largest Senior Insurance Brokerage
{March 13th, 2024} by Senior Market Sales
OMAHA, Neb., March 6, 2024 /PRNewswire/ — Senior Market Sales® (SMS), one of the industry’s premier insurance marketing organizations, is expanding its distribution in the southern United States with the acquisition of Seniors Advisory Services (SAS), Louisiana’s largest senior insurance brokerage agency. “Seniors Advisory Services is a pillar in Louisiana in Medicare Advantage, with a solid reputation and strong relationships that will help SMS […]
CFP Board Survey: Americans Want Retirement Investment Advice to Be in Their Best Interest
{March 13th, 2024} by CFP Board
WASHINGTON, March 11, 2024 /PRNewswire/ — A new survey commissioned by CFP Board reveals that nearly 97% of Americans agree that the financial professional who provides one-time recommendations or other one-time advice about retirement investments should be required to act in their client’s best interest. This includes a recommendation to roll over funds from a workplace retirement savings program […]
Aspida and Flourish Announce Partnership to Distribute Aspida Annuities
{March 13th, 2024} by Aspida
DURHAM, N.C.–(BUSINESS WIRE)–Aspida Life Insurance Company (“Aspida”), a life insurance and annuity company, and Flourish, a platform that provides innovative access to financial products that help registered investment advisors (RIAs) improve their clients’ financial outcomes, announced their partnership to distribute the Aspida Advisory Multi-Year Guaranteed Annuity (MYGA). Flourish is offering this product through the Flourish […]
Americans Embracing Possibility of Living to 100, Many Expecting Over Three Decades of Retirement
{March 13th, 2024} by Corebridge Financial
HOUSTON–(BUSINESS WIRE)–More than half (54%) of Americans say it’s their goal to live to 100, according to a new study from Corebridge Financial and The Longevity Project. Family, friends and new experiences are seen as the top benefits of a very long life, with 72% of respondents citing continued meaningful relationships with family and friends and […]
Symetra Receives 2024 BISA Diversity, Equity & Inclusion Award
{March 13th, 2024} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Financial Corporation received a 2024 Diversity, Equity & Inclusion Award from the Bank Insurance & Securities Association (BISA), which annually recognizes the successful diversity efforts of organizations from the financial services industry. “Symetra is honored to receive this recognition from BISA. We remain committed to advancing diversity, equity and inclusion — for our people, […]
I retired 6 years ago and hired a financial adviser. He recommended annuities, but they only yield about 2%. Now what?
{March 12th, 2024} by Alisa Wolfson
Question: I retired six years ago and hired a financial adviser. He recommended that I buy three annuities as a means of having a guaranteed income like a pension. Those annuities yield about 2%. Click HERE to read the full story via MarketWatch Wink’s Moore on the Market: Why on earth is this woman still […]
Everyone has a money story: Win Havir tells the story that inspires her
{March 12th, 2024} by Susan Rupe
Every individual and family has a money story — that history or narrative that inspires the way they save and spend. For Winona “Win” Havir, that money story begins in World War II, with her widowed grandmother desperate to save her children from Japanese invaders threatening their home in China. Havir’s grandmother put her three children […]
Annuity sales set more records in Q4, Wink reports
{March 12th, 2024} by John Hilton
Total Q4 sales for all deferred annuities were $105.4 billion, up 33.1% compared to the previous quarter and up 32.9% compared to the same period last year. All deferred annuities include the variable annuity, structured annuity, indexed annuity, traditional fixed annuity, and multi-year guaranteed annuity (MYGA) product lines. Click HERE to read the full story via INN
Boost your confidence, embrace your uniqueness and transform your sales
{March 12th, 2024} by Lloyd Lofton
Imagine a sales landscape where every presentation is a showcase of confidence, creativity and unique ideas, a scenario in which prospects ask you, “How does that work?” or “How do I do that?” How would your conversations be different if every prospect you spoke with disclosed the reason for their hesitation or the history of […]
We’re in our 70s in Boca Raton with a net worth of about $2 million – and rental properties, Social Security and an annuity. What’s next for us?
{March 12th, 2024} by Alisa Wolfson
Question: We are a couple in our 70s who live in Boca Raton and have managed our money without a financial adviser all of our life. We have rental properties, equities, bonds, income from Social Security, a small annuity from a retirement account and a net worth of a couple of million dollars. Click HERE to […]
Treasury Proposes Curbs on Use of Life and Annuities in Wealth Planning
{March 12th, 2024} by Allison Bell
The U.S. Treasury Department hopes to keep very wealthy individuals and families from using customized life insurance policies and annuities to cut their taxes. The department has added a proposal to “Limit Tax Benefits for Private Placement Life Insurance and Similar Contracts” in its “Greenbook,’ or detailed discussion of revenue-raising proposals, for fiscal year 2025. Click HERE to […]
Women’s History Month
{March 12th, 2024} by Wink's Intel Pros
As March is Women’s History Month and we recently had International Women’s Day, we want to give a shoutout to an inspiring industry leader, our rock star CEO, Sheryl Moore. How Sheryl Moore grew into one of the life and annuity industry’s leading product experts, check out this feature article “From Stay-at-Home mom to Insurance […]
Nationwide and Annexus celebrate 10-year partnership with NYSE bell ringing
{March 12th, 2024} by Kristen Vasas-Samson
Over the past decade, Nationwide and product development partner Annexus have brought innovative solutions to the financial services marketplace, creating substantial value to help American retirement savers achieve their goals. To commemorate this milestone, leaders from both companies gathered to ring the closing bell at the New York Stock Exchange on March 7, celebrating the strength of […]
This is a relatively new development, which I largely attribute to The SECURE Act.
{March 10th, 2024} by Sheryl J. Moore
Maybe the reason why older people are not as interested in annuities is because they have been exposed to information that puts annuities in a negative light. Younger people might be more receptive to using annuities because news about annuities over the past few years has been largely positive. This is a relatively new development, […]
Insurance M&As drop in 2023, but expected to rise again this year
{March 10th, 2024} by Doug Bailey
Insurance company merger and acquisition deals fell off the table in 2023, hampered by the rising cost of capital and other negative macroeconomic factors. But industry executives, analysts and others say the M&A market will bounce back this year, and most are bracing for announcements of deals they believe are already in the pipeline. “As […]
The 2024 Game Plan for In-Plan Annuities
{March 8th, 2024} by Brian Anderson
We’ve heard it before. Annuities within workplace retirement plans are poised for explosive growth, with doors opened by friendly provisions within the SECURE Act and SECURE 2.0 and ramped-up demand from a wave of “Peak 65” 401(k) participants looking to turn a part of their account balance into a guaranteed stream of lifetime income. […]
Another head-turner
{March 7th, 2024} by Sheryl J. Moore
In case you missed the launch, Americo Financial Life and Annuity has a new “Instant Decision IUL,” which offers the highest caps and rates in the industry. Another head-turner? (I mean besides the instant issue part…) There is no medical exam required for coverage up to $450,000. Want the deets? We have the specs on […]
Wink, Inc. Releases 4th Quarter, 2023 Deferred Annuity Sales Results
{March 6th, 2024} by Jamie Johnson
– – FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE Indexed, MYGA, and Structured Annuity Sales Hit Records Wink, Inc. Releases 4th Quarter, 2023 Deferred Annuity Sales Results Des Moines, Iowa. March 5th, 2024– Wink’s Sales & Market Report, the insurance industry’s #1 resource for annuity sales data since 1998, released its 106th edition report for 4th Quarter, 2023. One hundred and […]
Fourth Quarter 2023 Annuity Sales
{March 6th, 2024} by Sheryl J. Moore
Deferred Annuity Sales Total 4Q2023 deferred annuity sales $105,464 million, compared with sales of $79,336 million for the fourth quarter of 2022. Fourth quarter deferred annuity sales were up more than 33% when compared to the previous quarter and up nearly 33% when compared to the same period last year. Non-Variable Deferred Annuity Sales Total […]
LINE OF BUSINESS: 4Q23 Sales- % CHNG QTR / % CHNG YR
{March 6th, 2024} by Sheryl J. Moore
LINE OF BUSINESS: 4Q23 Sales- % CHNG QTR / % CHNG YR All Deferred Annuities: $105.46 B- 33.11% / 32.93% >Non-Variable Deferred Annuities: $81.33 B- 48.42% / 40.58% >>Indexed Annuities: $27.96 B- 19.80% / 29.18% >>Fixed Annuities: $730.63 M- 47.32% / 26.98% >>MYGAs: $52.63 B- 70.02% / 47.73% >Variable Deferred Annuities: $24.13 B- -1.23% / […]
My “Three Bucket” Approach To Explaining Fixed Annuities
{March 6th, 2024} by Charlie Gipple
As many of you financial professionals can attest to, annuities have become more “mainstream” in the minds of consumers. So much so that we financial professionals are often prompted for more information about annuities from our clients without us ever even mentioning annuities. The industry-wide sales numbers speak to the increasing popularity of annuities, as […]
NC appeals court deals another blow to Greg Lindberg’s crippled empire
{March 6th, 2024} by John Hilton
A North Carolina appeals court partially reversed a lower-court ruling today and affirmed liquidation proceedings against insurers once owned by embattled investor Greg Lindberg. In a unanimous decision, a three-judge appellate panel issued an opinion against GBIG Holdings, which had sought to delay liquidation of Bankers Life Insurance Co. and Colorado Bankers Life Insurance Co. […]
AuguStar and Americo Add Indexed Life Policies
{March 6th, 2024} by Allison Bell
Two life insurers that have made a big push to increase their market share in recent years have added indexed life insurance products. AuguStar Life — the Cincinnati-based reincarnation of Ohio National Life — introduced a 20-pay Prestige Indexed Whole Life policy, a sibling of the company’s 10-pay indexed whole life policy. Americo, a Kansas City, […]
Multi-Year Guaranteed Annuity Sales Get Back on the Rocket
{March 6th, 2024} by Allison Bell
U.S. life insurers refilled their tanks of multi-year guaranteed annuity capital in the fourth quarter of 2023. Life insurers let sales of the products rocket up to $53 billion in the quarter, up 48% from the total recorded in the fourth quarter of 2022, after increasing just 13% in the third quarter of 2023, according […]
7 Trends Annuity Execs Are Watching Now
{March 6th, 2024} by Allison Bell
Executives at U.S annuity issuers and distributors had an unusual experience during their latest round of earnings calls: Wall Street securities analysts were interested in hearing about annuities. The analysts tell investors what’s hot and what’s not. Insurers and other U.S. companies that sell stock to the public usually hold public conference calls with the […]
DOL Fiduciary Rule Could Throw Cold Water on Annuity Sales Boom
{March 6th, 2024} by Miriam Rozen
Annuity sales keep breaking records and hit an all-time high in the fourth quarter of last year, but the Department of Labor’s proposed fiduciary rule governing retirement accounts threatens to rein in the party. The change could be felt most acutely by some of the largest independent broker-dealers, such as LPL Financial, Ameriprise Financial and […]
AuguStar and Americo Add Indexed Life Policies
{March 6th, 2024} by Allison Bell
Two life insurers that have made a big push to increase their market share in recent years have added indexed life insurance products. AuguStar Life — the Cincinnati-based reincarnation of Ohio National Life — introduced a 20-pay Prestige Indexed Whole Life policy, a sibling of the company’s 10-pay indexed whole life policy. Click HERE to read the […]
California’s Adoption of NAIC Annuity Protection Model Means 90% of U.S. Consumers Now Covered
{March 6th, 2024} by Brian Anderson
Some insurance industry experts are saying that California’s adoption this week of the National Association of Insurance Commissioners (NAIC) best interest model for annuity transactions further negates the need for the DOL’s proposed retirement security rule. The fact that California—a blue state with the largest population of any state in the country—this week became the 45th state to […]
4 Ways to Lock In Yields Above 5%
{March 6th, 2024} by Debbie Carlson
With some money-market mutual funds and high-yield savings accounts still sporting 5% yields, it is easy to be complacent and let cash sit. But with the Federal Reserve likely to begin cutting interest rates later this year—recent hot inflation readings notwithstanding—such high yields are likely to come down quickly. Click HERE to read the full story […]
Addressing the gender gap in insurance and financial services
{March 6th, 2024} by John Forcucci
While insurance and financial services have traditionally been male-dominated industries, some progress has been made in recent years to address the gender gap, according to several studies. Women now make up roughly 50% of the workforce in the insurance industry, but they represent only 18% of C-suite positions. In the financial services sector, the proportion […]
Distributors Expect Life Sales to Grow Faster Than Annuity Sales
{March 6th, 2024} by Allison Bell
Demand for estate and trust services could soar over the next three years. When a survey team asked life, health and annuity distributors to rate the growth prospects of eight life-and-health-related sectors, 26% listed estate and trust services as the leader. Click HERE to read the full story via Think Advisor Wink’s Moore on […]
Why Annuity Sales Are Booming
{March 6th, 2024} by Ben Mattlin
Last year, according to data tracker Limra, U.S. annuity sales reached $385 billion, marking the second straight year of record highs. Limra attributed this sales run to a combination of rising interest rates, market volatility, demographic shifts and greater demand for retirement-income security. All true, no doubt. Click HERE To read the full story through […]
Financial Service Industry Veterans Launch New Retirement Solutions Platform
{March 6th, 2024} by IncomePath
Presents new research on why the industry’s “failure” approach to retirement planning is faulty ITHACA, N.Y., Feb. 27, 2024 /PRNewswire/ — Retirement industry thought leaders Dr. Michael Finke and Tamiko Toland launch IncomePath, a novel solution provider that simplifies retirement income planning. IncomePath uses a goal-based process that considers spending flexibility and other factors to help users visualize how risk affects possible lifestyle […]
Senior Market Sales® Acquires Seniors Advisory Services, Louisiana’s Largest Senior Insurance Brokerage
{March 6th, 2024} by Senior Market Sales
Agency Plans to Leverage SMS Technology, Products and Expertise to Grow Regionally OMAHA, Neb., March 6, 2024 /PRNewswire/ — Senior Market Sales® (SMS), one of the industry’s premier insurance marketing organizations, is expanding its distribution in the southern United States with the acquisition of Seniors Advisory Services (SAS), Louisiana’s largest senior insurance brokerage agency. “Seniors Advisory Services is a pillar in Louisiana in Medicare […]
TIAA Institute report finds ties between financial stress and mental health
{March 6th, 2024} by TIAA Institute
Leading employers are taking innovative approaches to support mental and financial health of employees NEW YORK, Feb. 28, 2024 /PRNewswire/ — Employers can play an integral role in addressing mental health challenges caused by financial stress by implementing thoughtful, holistic, support services for employees. A new report by the TIAA Institute and High Lantern Group examined the correlation between financial stress […]
AuguStar Life Launches 20-Pay Option with Innovative Indexed Whole Life Product
{March 6th, 2024} by AuguStar Life
CINCINNATI , Feb. 28, 2024 /PRNewswire/ — AuguStarSM Life, a Constellation company, today announces the launch of its 20-pay Prestige Indexed Whole Life insurance, further expanding its indexed life insurance portfolio. This new addition to the Prestige lineup complements the 10-pay version introduced in 2022, providing clients with enhanced flexibility and growth potential while minimizing market risks. Karl Kreunen, […]
National Western Life Group, Inc. Announces 2023 Full Year and Fourth Quarter Earnings
{March 6th, 2024} by National Western Life Group, Inc.
AUSTIN, Texas, Feb. 29, 2024 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today 2023 consolidated net earnings of $94.4 million, or $26.71 per diluted share of Class A Common Stock, compared with restated consolidated net earnings of $246.5 million, or $69.71 per diluted share of Class A Common Stock […]
Nationwide notches third consecutive year of record sales in 2023 and delivers strong operating income
{March 6th, 2024} by Nationwide
Key points $60.3B in sales; third consecutive year of record sales $1.3B in net operating income $25B billion in total adjusted capital and highest level recorded Nearly $23B in claims and benefits paid to customers Financial services continues to drive overall growth with financial performance accelerating in all lines Excess & surplus/specialty and agribusiness lines leading P&C performance COLUMBUS, Ohio, March […]
S&P Affirms Security Benefit Financial Strength “A-“ Rating; Outlook now “Stable”
{March 6th, 2024} by Security Benefit
TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit Life Insurance Company (Security Benefit) today announced that major rating agency Standard & Poor’s Global Ratings has affirmed its financial strength rating of “A-“ and revised its outlook to “stable.” S&P maintained its view of the firm’s capital and earnings as “very strong” and again commented favorably on its investment performance […]
Securian Financial Reports Strong 2023 Results
{March 6th, 2024} by Securian Financial
ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial increased revenue and earnings significantly in 2023 while furthering its growth plans and again being there for customers and the community, the insurance and retirement solutions provider announced at its recent annual employee meeting. “In 2023, we generated strong financial results and took bold steps to position the company for […]
Milliman survey of fixed indexed and multi-year guaranteed annuity writers finds high lapse rates in 2023, adjustments to dynamic lapse formulas
{March 6th, 2024} by Milliman, Inc.
SEATTLE–(BUSINESS WIRE)–Milliman, Inc., a premier global consulting and actuarial firm, today announced the findings of a new survey that explored dynamic lapse adjustments for annuity writers in the face of rising interest rates. Milliman surveyed 13 fixed indexed annuity (FIA) and multi-year guaranteed annuity (MYGA) writers and asked them to weigh in on their actual […]
MassMutual Reports Strong 2023 Financial Results Fueled by Company Records
{March 6th, 2024} by MassMutual
SPRINGFIELD, Mass.–(BUSINESS WIRE)–MassMutual today reported strong financial results1 for 2023. In addition to maintaining its position as an industry-leading provider of whole life insurance and reporting record annuity sales and capital, the company reached a major milestone as it topped $1 trillion of protection for its life insurance policyowners. Financial performance highlights for the year ended December […]
This International Women’s Day, Lincoln Financial Shares Research Highlighting the Financial Challenges Women Face, and Tips for Women to Address These Challenges and Help Secure Their Financial Futures
{March 6th, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–As International Women’s Day approaches on March 8, a recent study from Lincoln Financial Group (NYSE: LNC) reveals that women are facing more challenges than their male counterparts in managing their finances and planning for retirement. Only 18% of working women have more than $250,000 saved for retirement in their workplace retirement plan, […]
Pacific Life Named One of World’s Most Ethical Companies for Seventh Consecutive Year
{March 6th, 2024} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has been named one of the 2024 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 its culture of ethics; environmental, social, and governance (ESG) practices; ethics and compliance program; diversity, equity, & […]
Gainbridge® Signs College Basketball Star Caitlin Clark as Brand Ambassador
{March 6th, 2024} by Group 1001
ZIONSVILLE, Ind.–(BUSINESS WIRE)–Gainbridge®, a Group 1001 company, announced today a multi-year partnership with Iowa women’s basketball star Caitlin Clark to serve as brand ambassador for the company. The company also announced a new product now available on the Gainbridge® platform, ParityFlex™, a multi-year guaranteed annuity product created for women, by women. Clark is joining the […]
Ameriprise CEO’s Pay Rose 24% in 2023
{March 6th, 2024} by Dinah Wisenberg Brin
Ameriprise Financial Chairman and CEO James Cracchiolo’s total compensation rose 24% to nearly $28.4 million last year, the company said in a recent preliminary proxy statement. His compensation totaled more than $22.8 million in 2022 and $21.2 million in 2021. Click HERE to read the full story via ThinkAdvisor
‘Unretiring’ CEO leads F&G to growth — With Chris Blunt
{March 5th, 2024} by Paul Feldman
F&G CEO Chris Blunt started his career as a financial advisor with Shearson Lehman Brothers. (“If you remember that name, you’re old,” he said.) He eventually obtained an MBA at the Wharton School. Click HERE to read the full story via INN Wink’s Moore on the Market: My friend Chris Blunt and his colleagues at F&G have built an AMAZING culture […]
TIAA Traditional Interest Rates Remain High
{March 5th, 2024} by TIAA
Competitive interest rates continue providing additional growth beyond guarantees NEW YORK, March 4, 2024 /PRNewswire/ — TIAA is continuing to offer competitive interest rates on TIAA Traditional, enhancing the retirement security for over two million Americans who are accumulating savings through the company’s flagship fixed annuity product. These rates include an expected $2.6 billion above the contractually guaranteed interest rates […]
California Gov. Newsom signs best-interest annuity sales bill
{March 5th, 2024} by John Hilton
California Gov. Gavin Newsom gave industry trade groups a big win Thursday by signing a best-interest annuity sales bill into law. California becomes the 45th state to pass the best-interest model, based on a framework put forth by the National Association of Insurance Commissioners. In addition to being one of the largest economies in the world, California […]
Annexus, Athene and Barclays Celebrate the 10th Anniversary of the Shiller Barclays CAPE Series of Indices
{February 27th, 2024} by Annexus
SCOTTSDALE, Ariz., Feb. 26, 2024 /PRNewswire/ — Annexus, one of the nation’s leading independent developers of financial and insurance products, along with Athene, a leading provider of index-linked annuities, and Barclays, a global corporate and investment bank, are excited to announce the 10th anniversary of the Shiller Barclays CAPE® indices: the Shiller Barclays CAPE® US Sector Risk Controlled 10% USD […]
FNF Reports Fourth Quarter and Full Year 2023 Financial Results
{February 27th, 2024} by Fidelity National Financial, Inc. cial, Inc.
JACKSONVILLE, Fla., Feb. 21, 2024 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE:FNF) (“FNF” or the “Company”), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through its majority-owned, publicly traded subsidiary F&G Annuities & […]
F&G Annuities & Life Reports Fourth Quarter and Full Year 2023 Results
{February 27th, 2024} by F&G Annuities & Life, Inc.
DES MOINES, Iowa, Feb. 21, 2024 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (F&G or the Company) a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today reported financial results for the fourth quarter and twelve months (full year) ended December 31, 2023. Net loss for the fourth quarter of $299 million, or $2.41 per […]
Best’s Special Report: Growing Number of Life/Health Insurers Outsourcing Investment Management
{February 27th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–An increasing number of insurers are relying on outside asset managers to handle a portion of their investment portfolios, according to a new AM Best report. In a new Best’s Special Report, AM Best notes that the percentage of life/health insurers using investment managers for more than 10% of their invested assets has risen […]
AM Best Downgrades Issuer Credit Ratings of A-CAP Group Members; Places Credit Ratings Under Review With Negative Implications
{February 27th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb+” (Good) and affirmed the Financial Strength Rating of B++ (Good) of Atlantic Coast Life Insurance Company (Charleston, SC) and Sentinel Security Life Insurance Company (Salt Lake City, UT). Concurrently, AM Best has placed these Credit Ratings (ratings) under […]
Global Atlantic Closes $10 Billion Block Reinsurance Transaction with Manulife across both US and Japan Business
{February 27th, 2024} by Global Atlantic Financial Group
NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced the closing of its $10 billion reinsurance transaction with Manulife Financial Corporation (NYSE: MFC). The transaction, signed and previously announced between subsidiaries of the two companies last December, reinsures a seasoned and diversified […]
Jackson Announces Fourth Quarter and Full Year 2023 Results
{February 27th, 2024} by Jackson
LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) (Jackson®) today announced financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter Highlights Net income (loss) attributable to Jackson Financial Inc. common shareholders of $(1.6) billion, or $(19.64) per diluted share in the fourth quarter of 2023, compared to $(1.2) billion, or $(13.74) […]
Global Atlantic Celebrates Expansion of Hartford Office to Support Continued Growth
{February 27th, 2024} by Global Atlantic Financial Group
HARTFORD, Conn.–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today announced the completion of its newly renovated office space on the 18th floor of the iconic Gold Building in downtown Hartford. The expansion project includes a renovation of 29,000 square feet. This involved […]
AM Best Affirms Credit Ratings of Mutual of America Life Insurance Company
{February 27th, 2024} 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 Rating of “a” (Excellent) of Mutual of America Life Insurance Company (MofA) (New York, NY). The outlook of these Credit Ratings (ratings) is negative. The ratings reflect MofA’s balance sheet strength, which AM Best assesses as very strong, […]
Allianz Achieves Record Operating Profit and Shareholders’ Core Net Income
{February 27th, 2024} by Allianz
MUNICH–(BUSINESS WIRE)–February 23, 2024 12M 2023: Total business volume rises 5.5 percent to 161.7 billion euros Operating profit increases 6.7 percent to 14.7 billion euros primarily driven by the Life/Health business segment Shareholders’ core net income excellent at 9.1 billion euros, up by 30.3 percent 4Q 2023: Total business volume advances 7.8 percent to 39.6 […]
Global Atlantic Closes on $10B Manulife Reinsurance Deal
{February 27th, 2024} by Allison Bell
Global Atlantic said Thursday that it has closed on a previously announced reinsurance deal with Manulife Financial. The deal includes blocks of U.S. life insurance, U.S. annuities and Japanese whole life insurance policies backed by $5.6 billion in assets, in U.S. dollars. Click HERE to read the full story via Think Advisor
Life insurers report improved mortality; actuaries say nothing’s changed
{February 27th, 2024} by John Hilton
Several life insurers cited mortality improvements in the fourth quarter for helping to improve life insurance earnings at the end of 2023. At Globe Life, for example, positive mortality and persistency enabled the company to record $13 million of lower life policy obligations and $4 million of lower health policy obligations during the fourth quarter. […]
Insurers flocking to Bermuda to expand reinsurance footprint – AM Best
{February 27th, 2024} by Kenneth Araullo
Some insurers are strategically increasing their reinsurance operations in Bermuda, either through subsidiaries or independent ventures, according to a recent analysis in Best’s Review. This move, AM Best explained, is primarily driven by life and annuity insurers looking for capital efficiency and the opportunity to manage risks associated with products like multi-year guaranteed annuities and […]
Corebridge Still Bullish on Fixed Annuity Sales
{February 27th, 2024} by Allison Bell
Executives at Corebridge Financial say they’re optimistic about sales of fixed annuities and non-variable indexed annuities. The Houston-based company increased the amount of premiums and deposits flowing into non-variable indexed annuities to $1.9 billion in the fourth quarter of 2023, from $1.75 billion in the fourth quarter of 2022. Click HERE to read the full […]
Jackson Financial rides out Q4 loss with solid sales and capital, new reinsurer
{February 27th, 2024} by John Hilton
Jackson Financial executives touted the potential for Brooke Re, a wholly owned reinsurer established in January, while explaining a fourth-quarter loss of $1.56 billion. CEO Laura Prieskorn insisted that Jackson is right on target with its growth plan. The company “met or exceeded all financial targets” for the third consecutive year, she added. For the year, Jackson […]
Integrity Introduces LifeCENTER, a Transformational Technology Platform for Life Agents
{February 27th, 2024} by Integrity Marketing Group, LLC
DALLAS, Feb. 21, 2024 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced the launch of its innovative LifeCENTER platform that offers life insurance-focused agents powerful and expansive technology solutions. The first-of-its-kind system is available at no cost to Integrity agents, […]
