Tweet away: Finra backs off social-media posting regs
{December 30th, 2011} by Dan Jamieson
Burden of vetting posts cited, victory for securities industry By Dan Jamieson December 30, 2011 The Financial Industry Regulatory Authority Inc. has backed away from a proposal that would have required broker-dealers to file social-media postings with the regulator. In an update to a package of proposed communications rules filed with the Securities and Exchange […]
ING: 5 Ways To Make Retirement Planning a Priority In The New Year
{December 30th, 2011} by N/A
December 28, 2011 PR Newswire Association LLC WINDSOR, Conn./PRNewswire/ –As Americans begin to make their resolutions for the New Year, new findings from the ING Retirement Research Institute suggest that better retirement planning and saving should be high on the list. According to recent findings, 71 percent of Americans do not have a formal investment […]
Allianz Life Insurance hires new external comms director
{December 29th, 2011} by Rose Gordon
Rose Gordon December 28 2011 MINNEAPOLIS, MN: Sara Thurin Rollin is now director of external communications for Allianz Life Insurance Company of North America where she is tasked with building the financial services company’s reputation. Rollin has 20 years of media experience, including as a daily business news reporter in Washington, DC. Rollin’s previous corporate […]
Idaho Insurance Department Says To Be Cautious Of Annuity Tax-Break Offers
{December 28th, 2011} by N/A
December 22, 2011 By The Idaho Statesman, Boise McClatchy-Tribune Information Services Dec. 22–Be cautious about handing over ownership of annuities or buying charitable-gift annuities to get year-end tax breaks, theIdaho Department of Insurancewarned Thursday. “The latest year-end tax-saving promise asks consumers to sign over annuities to an out-of-state organization in order to receive a […]
Producers as Dream Keepers
{December 28th, 2011} by Steve Parrish
December 22, 2011 By Steve Parrish InsuranceNewsNet Magazine, December 2011 We’ve all heard people make some version of this comment: “I don’t trust doctors (or lawyers or plumbers or financial professionals), but mine does a great job.” This common consumer reaction leads to the marketing adage that consumers are typically unhappy with advisors, unless you’re […]
Selling Suitably in 2012
{December 28th, 2011} by Nicholas C. Gerhart and Patrick C. Reeder
December 21, 2011 By Nicholas C. Gerhart and Patrick C. Reeder AnnuityNews InsuranceNewsNet Magazine, October 2011 Annuities continue to play an important part in retirement income discussions, just as regulators have been strongly focused on the product and how these products are sold. For example, the NAIC adopted a revised Suitability in Annuity Transactions Model […]
What’s Coming Down the Producer’s Pipeline in 2012?
{December 28th, 2011} by Ray Ohlson
December 21, 2011 By Ray Ohlson AnnuityNews The past few years have been trying for the world’s economy. We still have a very high unemployment rate and an anemic economic growth rate. And just when we think that our financial markets are bouncing back, we have another setback – the interest rate environment. Interest rates […]
Interest in Indexed Annuities On The Rise
{December 28th, 2011} by Sheryl J. Moore
December 28, 2011 By Sheryl Moore AnnuityNews The negative stigma surrounding indexed annuities has certainly lessened over the past few years. However, indexed annuities aren’t exactly in “the good graces” of the entire insurance industry. Sure, the media has been illuminated on the relatively few problems in the market and the Securities and Exchange Commission’s […]
New FED Standards May Impact Life Insurers
{December 28th, 2011} by Arthur D. Postal
By Arthur D. Postal December 21, 2011 Insurers designated as systemically significant would be subject to the same capital standards as banks under a proposed framework by the Federal Reserve Board, a life insurance analyst warned today. In a note to investors, John Nadel of Stern Agee, Inc. in New York, said the issue is […]
NAIC Pursues Comprehensive Market Conduct Assessment and Perhaps, Consolidation
{December 28th, 2011} by Elizabeth Festa
A central repository of state market conduct data? (AP Photo/Nati Harnik, File) The NAIC is addressing the possibility of a central repository of state market conduct data in its main systems under a 2012 large-scale effort to beef up its market conduct and consumer protection profile, and make sure states are doing the same. The […]
SNL Financial: Annuity Considerations Up Nearly 15% in 2011
{December 23rd, 2011} by Warren S. Hersch
By Warren S. Hersch December 13, 2011 Funds flowing into annuities increased by nearly 15% in the first three quarters of 2011, a new survey reveals. SNL Financial LC, Charlottesville, Va., published this finding in a report on “annuity considerations,” periodic payments or one lump sum payment made to purchase an annuity plan. SNL’s analysis […]
Kehrer-LIMRA: Bank Annuity Sales Up 11% Over Year-Ago Period
{December 23rd, 2011} by Warren S. Hersch
By Warren S. Hersch December 16, 2011 Annuity sales through financial institutions increased nearly 11% in the third quarter of 2011 compared to the comparable period one year ago, according to a new report. Kehrer-LIMRA, a subsidiary of LIMRA Services, Windsor, Conn., published this finding in a summary of results from its monthly bank annuity […]
Party Crashers
{December 23rd, 2011} by Arthur D. Postal
How the SEC plans to keep tabs on living benefits By Arthur D. Postal From the December 5, 2011 issue of National Underwriter Life & Health Magazine The Securities and Exchange Commission is signaling to industry lawyers it is focusing on the disclosures involved in annuities that provide living benefit riders. In comments at an […]
What Wall Street Doesn't Want You to Know About Your 401(k)
{December 23rd, 2011} by Sandy Harris and Phyllis Shelton
Posted: 12/20/11 09:15 AM ET The year is 1946. It is a very special year. The President declares the end of World War II. The U.N. meets for the first time. The President sets up the Central Intelligence Agency. The US Supreme court rules race separation on buses is unconstitutional. Congress passes a law to […]
Liberty Life Insurance Company Completes Reinsurance Transaction
{December 23rd, 2011} by Bill Free
press release Dec. 20, 2011, 10:12 a.m. EST GREENVILLE, S.C., Dec 20, 2011 (BUSINESS WIRE) — Liberty Life Insurance Company today announced it had reinsured $3.1 billion of fixed annuities and similar liabilities. With the completion of this transaction, Liberty Life will have assets in excess of $7 billion. On a consolidated basis, Athene Holding […]
John Hancock Financial Names John G. Vrysen as President, John Hancock Annuities
{December 23rd, 2011} by N/A
BOSTON, Dec. 20, 2011 — BOSTON, Dec. 20, 2011 /PRNewswire/ — John Hancock Financial Services has named John G. Vrysen to serve as President of its Annuities business, effective immediately. The annuities business includes fixed and variable annuities, immediate annuities, structured settlements and institutional fixed products. In his new role, Mr. Vrysen reports to Hugh […]
5 Questions With Genworth (About Annuities)
{December 23rd, 2011} by Daniel Williams
By Daniel Williams December 19, 2011 As an editor I receive quite a few PR pitches. Many go into the trashcan, as they don’t fit our idea of news or are deemed not a benefit to financial advisors. One that caught my eye recently was an email from Genworth announcing that after “having been out […]
2012: Industry Views from the 2011 NAFA Summit
{December 23rd, 2011} by Rob Billingham
By Rob Billingham InsuranceNewsNet Magazine, December 2011 Industry principals and executives offered their insight on what’s ahead in 2012 in the ever-changing world of indexed annuities at the 2011 National Association for Fixed Annuities (NAFA) Summit. Niju Viswani- President of Altisure Group Annuities will remain a strong player next year. The tumultuous stock market forces […]
Use the Low Interest Rate Environment to Boost Sales
{December 23rd, 2011} by W. Andrew Unkefer
By W. Andrew Unkefer AnnuityNews No, I am not crazy. If you are selling fixed annuities, indexed annuities or any other “safe rate” financial vehicles, keep reading. I speak to hundreds of busy agents each month and thousands per year. Some have already discovered what I am about to share with you. Do you know […]
Allianz: Americans Unlikely to Address Financial Planning in 2012
{December 23rd, 2011} by N/A
Business Wire, Inc. Despite Tumultuous Economy, Financial Planning Takes a Back Seat and Waistlines Trump Wallets in New Year’s Resolutions MINNEAPOLIS–(BUSINESS WIRE)– Even though 2011 saw high unemployment, sagging home prices and a volatile stock market, 80 percent of Americans said that they will not focus on financial planning in their resolutions for 2012, according […]
Tokio Marine Holdings to Acquire Delphi Financial Group in $2.7 Billion Transaction
{December 23rd, 2011} by Naotake Hamada
Continued Expansion of International Business by Tokio Marine Complementary Addition to Existing U.S. Operations Press Release: Tokio Marine Holdings, Inc. and Delphi Financial Group, Inc. – Wed, Dec 21, 2011 2:15 AM EST TOKYO & NEW YORK–(BUSINESS WIRE)– Tokio Marine Holdings, Inc. (TMHD) and Delphi Financial Group, Inc. (Delphi) (NYSE:DFG – News) today announced that […]
Allianz Survey: Americans Still Unlikely to Address Financial Planning in 2012
{December 22nd, 2011} by Staff Writer
By staff writer December 21, 2011 Even though 2011 saw high unemployment, sagging home prices and a volatile stock market, 80 percent of Americans said that they will not focus on financial planning in their resolutions for 2012, according to a recent survey from Allianz Life Insurance Company of North America (Allianz Life). This lack […]
Genworth Introduces New Fixed Index Annuity Product Suite
{December 20th, 2011} by N/A
Guaranteed growth, protection, competitive cap rates and access to funds highlight SecureLiving® Index 7 and SecureLiving® Index 10 Plus offerings RICHMOND, VA. — December 12, 2011 /PRNewswire/ — Genworth Financial, Inc. (NYSE:GNW) announced today the launch of two new index annuities designed to meet the growing needs of America’s security-conscious consumers. SecureLiving® Index 7 and […]
New Allianz Life boss won't tinker with controversial distribution model
{December 20th, 2011} by Darla Mercado
Indexed annuity program rewarding big Allianz sellers with exclusive products here to stay By Darla Mercado December 19, 2011 Allianz Life’s new CEO is sticking with the insurer’s controversial indexed-annuity distribution model, dashing the hopes of some independent agents. The new CEO Walter White, once Allianz Life Insurance Co. of North America’s chief administrative officer, […]
IRI to Federal Insurance Office: Annuities Critical to Retirement
{December 20th, 2011} by Lee Barney
December 18, 2011 Lee Barney The Insured Retirement Institute Friday responded to the Federal Insurance Office’s request for comment on how to modernize insurance regulation in the U.S. IRI said the nation’s insurance regulatory system needs to be modernized – and insurance products, most notably annuities and other insured retirement income products – need to […]
A.M. Best Places Ratings of Allianz Life Insurance Co. of NA & Its Subsidiaries Under Review With Negative Implications
{December 20th, 2011} by N/A
Best’s News Service – December 19, 2011 01:23 PM OLDWICK, N.J. – A.M. Best Co. has placed under review with negative implications and affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a+” of Allianz Life Insurance Company of North America (Minneapolis, MN) and its subsidiary, Allianz Life Insurance […]
Is the NAIC a Trade Group or Official Standard-Setter?
{December 20th, 2011} by Elizabeth Festa & Arthur D. Postal
By Elizabeth Festa & Arthur D. Postal December 19, 2011 The National Association of Insurance Commissioners Tuesday plans to announce an initiative to brand itself as a “standard-setting organization” rather than a trade group–a designation other industry officials say the trade group does not have the legal authority to assume. The NAIC staff and leadership […]
Producers Face Insurance Challenges in 2012
{December 20th, 2011} by Alan Levine
By Alan Lavine Penton Business Media Financial advisors are increasingly concerned about the financial strength of the insurance companies whose products they sell. They cite low interest rates and exposure to the stock market via product principal guarantees as grounds for their concern, according to a fall study by LIMRA. Some 26 percent of financial […]
Liberty Life Insurance Company Opens Sales and Marketing Office
{December 16th, 2011} by N/A
Business Wire, Inc. GREENVILLE, S.C.–(BUSINESS WIRE)– Liberty Life Insurance Company, a subsidiary of Athene Holding Ltd., has expanded its retail annuity operations into the Northeast financial corridor with the opening of a new sales and marketing office in Wilmington, Delaware. The 6,000 square foot facility, located at 500 Delaware Avenue along the western gateway to […]
Dalbar Announces Its 2011 Annuity Service Award Winners in Financial Services
{December 16th, 2011} by N/A
Today Dalbar released the 2011 winners of its annual Annuity Service Award. AXA Equitable-Equivest, New York Life, Pacific Life, Prudential Financial and SunAmerica Annuity and Life Assurance Company emerged as the leaders in customer service in 2011. For over two decades, Dalbar has conducted rigorous testing of service delivery and, each year identifies those annuity […]
2012 Could Be Rebuilding Year for Annuities
{December 15th, 2011} by Linda Koco
By Linda Koco Contributing Editor, AnnuityNews At an insurance conference this year, an agent in the audience stood up and asked a panel of company executives about when they are going to come out with some new products. A review of new products shows that annuity carriers have definitely unveiled new products this year, but […]
Allianz Shakes Up Management Board; Appoints First Female Member
{December 15th, 2011} by David Pilla
December 14, 2011 By David Pilla A.M. Best Company, Inc. Allianz SEannounced major changes to its board of management, as three veterans depart to make way for what the group’s chief executive called an “even more diverse, younger and more experienced” management team. TheGermany-based multiple-line insurer said board veteransPaul AchleitnerandEnrico Cucchianihave been “released” from their […]
Allianz Life names new CEO to replace Bhojwani
{December 14th, 2011} by Ed Stych
Minneapolis / St. Paul Business Journal by Ed Stych, Web Producer Date: Wednesday, December 14, 2011, 1:19pm CST Allianz Life Insurance Co. of North America Allianz Life Insurance Co. of North America Latest from The Business Journals Allianz sells out, giving REIT entree to Rickenbacker industrial marketAllianz names new chief investment officerAllianz Life Insurance […]
Allianz Life names new CEO
{December 14th, 2011} by Darla Mercado
Walter White takes helm of U.S. ops, arrives with brokerage expertise By Darla Mercado December 14, 2011 Allianz Life Insurance Co. of North America today promoted Walter White to chief executive, succeeding Gary Bhojwani. Parent company Allianz SE has elevated Mr. Bhojwani to its management board, where he now will oversee the U.S. property/casualty and life […]
Sun Life To Ax 800 Jobs
{December 14th, 2011} by Jerry Kronenberg
By Jerry Kronenberg, Boston Herald Dec. 13–Canadian insurance giant Sun Life Financialis cutting some 800 U.S. jobs, with roughly half of the layoffs hitting the firm’s American headquarters in Wellesley. “It’s fair to say that the vast majority of the impacts will be in the Boston area,” Sun Life spokesman Frank Switzer told the Herald, […]
Is it a Great Time for Indexed Annuities?
{December 14th, 2011} by Daniel Williams
Last week, LifeHealthPro and ProducersWEB co-hosted a Twitter chat with indexed annuities expert Sheryl Moore, (left) president of annuityspecs.com. Below, we’ve highlight some of the key topics, including booming indexed annuity (IA) sales, non-traditional competitors entering the annuity space and the 10/10 rule, just to name a few. As you look over these items, […]
Genworth Financial, Pacific Life, W&S Financial Group, Jefferson National Debut New Products
{December 14th, 2011} by Warren S. Hersch
By Warren S. Hersch December 12, 2011 Genworth Financial, Inc., Richmond, Va. (NYSE:GNW), has launched two new index annuities. Dubbed SecureLiving Index 7 and SecureLiving Index 10 Plus, the products will be issued by Genworth Life and Annuity Insurance Company. Genworth says the single-premium, fixed deferred annuities offer index-based and fixed interest crediting strategies. Consumers […]
Policyholders Getting Smarter, Leading to Charges for VA Products, Says Moody's
{December 14th, 2011} by Elizabeth Festa
By Elizabeth Festa December 12, 2011 Image courtesy AP Charges related to changes in policyholder assumptions on variable annuities with guaranteed benefits may emerge among life insurance companies in the U.S., putting a dent in earnings and capital, according to a new Moody’s report in the wake of ING’s announcement that it would take a […]
Genworth Launches New Fixed Index Annuity Product Suite
{December 14th, 2011} by N/A
PR Newswire Association LLC RICHMOND, Va., Dec. 12, 2011 /PRNewswire/ — Genworth Financial, Inc. (NYSE:GNW) announced today the launch of two new index annuities designed to meet the growing needs of America’s security-conscious consumers. SecureLiving® Index 7 and SecureLiving® Index 10 Plus will be issued by Genworth Life and Annuity Insurance Company. To view the […]
Sun Life To End Variable Annuity, Life Sales In U.S.
{December 14th, 2011} by Fran Lysiak
By Fran Lysiak A.M. Best Company, Inc. Canada-based Sun Life Financial Inc. said it will stop selling its variable annuities in the United States, as of Dec. 30. Additionally, Sun Life will stop selling individual life insurance products in the United States. Those decisions were reached after a “major strategic review” of its businesses, the […]
3Q Fixed Annuity Bank Sales Up 3%, Hit $4.1B
{December 11th, 2011} by Sarah Grano
WASHINGTON — Fixed annuity sales by banks and other depository institutions generated $4.1 billion in the third quarter, a three percent increase over the same period a year ago, according to data released today by the American Bankers Insurance Association. The sales estimates are based on findings from the Beacon Research Fixed Annuity Premium Study. […]
Liberty Life Insurance Company Taps Lund, Pinkley as Regional VPs
{December 9th, 2011} by N/A
GREENVILLE, S.C.–(BUSINESS WIRE)–Liberty Life Insurance Company, a subsidiary of Athene Holding Ltd., announced that Eric Lund and Keith Pinkley have joined the fixed annuity carrier’s national sales team as VP/relationship manager. Lund, with responsibility for the western region, brings over 25 years of experience in regional and national sales management, business development and product wholesaling […]
Eyeing the Benefits of Interest-rate Benchmark Feature for Fixed Index Annuities
{December 9th, 2011} by Kenneth L. Brown
By Kenneth L. Brown December 8, 2011 Today’s historically low interest rates may be a boon to mortgage-seekers and other borrowers, but they can be a curse for market-weary consumers seeking interest income or long-term growth options. As of fall of 2011, traditional savings accounts are bearing negligible interest, and money market accounts aren’t faring […]
LIMRA Survey: Most Retiring Employees Elect To Leave Retirement Assets in DC Plan
{December 9th, 2011} by Warren S. Hersch
By Warren S. Hersch December 8, 2011 Of the possible rollover actions to take upon employment termination, leaving money in an employer’s defined contribution plan is the most common choice among recent retirees and pre-retirees, according to a new survey. LIMRA, Windsor, Conn., published this finding in a summary of results from a survey, “Keys […]
Challenges for the Life and Annuity Industry in 2012
{December 8th, 2011} by Michael K. Stanley
By Michael K. Stanley December 7, 2011 As 2011 draws to a close the industry faces a world in-flux. In the US, the life and annuity industry must navigate an ever-changing path with obstacles appearing, disappearing and appearing again. The industry will need to display unwavering gumption with the only certainty being an amorphous political […]
Putting the 'New' in Annuities
{December 8th, 2011} by Ron Panko
Panko, Ron Variable annuity writers have taken a new step in risk management by introducing investment options with hedge assets. The financial crisis was a horrible experience for people as they watched their asset values fall sharply. But it was also an amazing laboratory for risk management by writers of retirement savings products, said Ken […]
Retirement Anxiety Inspires Rush of New Annuity Products
{December 8th, 2011} by Linda Koco
December 01, 2011 By Linda Koco InsuranceNewsNet Magazine, December 2011 Recent annuity product rollouts are putting the spotlight on retirement income strategies as opposed to the how-much-you-can-accumulate focus of yesteryear—and advisors are of two minds about that. Because so many of the new annuity debuts mention retirement income, annuity historians may one day call this […]
Why Do They Have Faith in the Market?
{December 8th, 2011} by Brian D. Mann
December 07, 2011 By Brian D. Mann AnnuityNews This article was inspired by a client who, after I proposed an annuity with a guaranteed lifetime withdrawal benefit rider to protect his retirement income from investment risk, said, “I’ll just stick with what I’m doing now. I have enough time to ride out my losses in […]
Hartford Financial Services Group Sells Division
{December 8th, 2011} by Staff Writer
Hartford, Conn. (AP)—Hartford Financial Services Group Inc. (NYSE: HIG) is selling a subsidiary that provides insurance to wealthy customers for $117.5 million to Philadelphia Financial Group Inc. Philadelphia Financial Group said Monday it expects to close the deal next year, assuming responsibility for servicing about $35 billion in private placement insurance business. The subsidiary is […]
Maximize Your Clients’ Social Security
{December 8th, 2011} by Michael Hamm
By Michael Ham December 4, 2011 The Dalai Lama was asked what surprised him in life the most. He replied, “Man, because he sacrifices his health in order to make money. Then he sacrifices money to recuperate his health.” Why do we fret so much and make ourselves sick? Simple answer: money or the lack […]
NAIC-Proposed Budget is Top-Heavy With Surplus, Industry Groups Complain
{December 8th, 2011} by Elizabeth D. Festa
By Elizabeth D. Festa December 6, 2011 NAIC 2012 proposed budget, which includes total revenues of $79.2 million and total expenses of $77.6 million, up almost 5% and 2.5% respectively, got its annual earful from the trade associations in the past weeks, with one organization calling for zero growth and others targeting its surplus and […]
LIMRA Survey: VA Buyers Overwhelmingly Favored a GLB Option in Third Quarter
{December 8th, 2011} by Warren S. Hersch
By Warren S. Hersch December 6, 2011 Nearly 9 in 10 variable annuity buyers elected to purchase a guaranteed living benefit rider in the third quarter of 2011, according to a new report. LIMRA, Windsor, Conn., published this finding in a summary of results from a Variable Annuity Guaranteed Living Benefit Election Tracking Survey that […]
ING Expects E1.1 Billion Hit In 4Q Earnings
{December 8th, 2011} by Archibald Preuschat
ING Expects E1.1 Billion Hit In 4Q Earnings — ING takes a charge of up to EUR1.1 billion in the fourth quarter — Charge is on its US closed block variable annuity business — Company continuing to prepare IPOs for its insurance businesses AMSTERDAM — ING Group NV (INGA.AE) said Wednesday that fourth-quarter earnings will […]
How to Fix Your 401(k) Plan
{December 4th, 2011} by Dan Kadlec
By Dan Kadlec | @dankadlec | November 28, 2011 As the traditional pension disappears, the 401(k) plan is evolving into something that one day might actually be just as good. That’s saying a lot. The certainty of monthly income for life, which traditional pensions promise, is a high bar. Meanwhile, 401(k) plans have taken their […]
Barney Frank Retiring
{December 4th, 2011} by Arthur D. Postal
From the Washington Bureau By Arthur D. Postal November 28, 2011 Rep. Barney Frank, D-Mass., one of the primary authors of financial services reform legislation passed by Congress last year, said today he would not return to the next Congress in 2013. He will have served 32 years in Congress. Rep. Maxine Waters, D-Calif., is […]
What Would You Do?
{December 4th, 2011} by Sheryl J. Moore
If you could be Sheryl J. Moore for ONE day…what would you do? – Teach regulators about indexed life insurance and indexed annuities? – Write an article about life insurance and annuities, in order to educate insurance agents? – Read a sample annuity contract? – Evaluate a life insurance specimen contract? – Crunch sales data and […]
Are you considering changing your broker/dealer because of their position on FIAs?
{December 4th, 2011} by Jason Kestler
Added: November 29, 2011 Over the years, we’ve learned that someone will not leave their current broker/dealer until the pain to stay exceeds the pain to move. So, if you are currently experiencing pain at your B/D, what should you do? If you are not securities licensed, you can stop reading right here – maybe. […]
A Good Marriage: Life Insurance and Annuities
{December 4th, 2011} by Alan Lavine
By Alan Lavine Penton Business Media What do you get when you splice together a life insurance policy and an immediate annuity? A reversionary annuity. Yes, that’s a mouthful, but it carries some of the advantages of each and is ideal for certain kinds of clients. The niche insurance product combines an insurance policy […]
Beacon: Income, Indexed Annuity Sales Increase In 3Q
{December 4th, 2011} by N/A
Beacon: Income, Indexed Annuity Sales Increase In 3Q GlobeNewswire EVANSTON, Ill., Nov. 30, 2011(GLOBE NEWSWIRE) — Third quarter 2011 income and indexed annuity sales topped the year-ago quarter according to estimates from the Beacon ResearchFixed Annuity Premium Study. Income annuities advanced 5% to $2.2 billion, and indexed annuities inched up 0.4% to $9.0 billion. Indexed […]
The Hartford Launches Fixed Index Annuities For Risk-Averse Retirement Savers
{December 4th, 2011} by N/A
Business Wire, Inc. The Hartford Saver SolutionSM and Saver Solution ChoiceSM expand The Hartford’s annuity product line to meet a broader range of consumer needs SIMSBURY, Conn.–(BUSINESS WIRE)– The Hartford has introduced two fixed index annuities that allow risk-averse investors to build retirement assets in the face of historically low interest rates. The new annuities […]
How to Escape 'Annuicide'
{December 4th, 2011} by Sheryl J. Moore
By Sheryl Moore AnnuityNews I recently had the occasion to read an article entitled, “Insights into the Annuity Puzzle.” This article dedicated a whopping 1,254 words to exploring the question, “Why don’t more Americans turn their annuities into a guaranteed lifetime income stream?” Nobel laureates chimed-in on how framing, loss aversion and various other psychological […]
Carriers Build MVA Annuity Arsenal
{December 4th, 2011} by Linda Koco
By Linda Koco Contributing Editor, AnnuityNews Agents who don’t sell or know about annuities with market value adjustment features might want to start boning up on them now. That’s because carriers that don’t yet have the feature on their annuities are scrambling to add them. A market value adjustment (MVA) is a provision in fixed […]
Futurity First Insurance Group Announces Management Changes to Accelerate Growth of Its Independent Marketing Organizations
{December 4th, 2011} by N/A
ROCKY HILL, CT, Dec 01, 2011 (MARKETWIRE via COMTEX) — Michael Kalen, CEO of Futurity First Insurance Group, recently announced changes to the top management team to accelerate growth of its independent marketing organizations (IMO), BHC Marketing, Inc., and Dressander and Associates. Effective immediately, Mike Dressander will assume an expanded role as President of both […]
Attracting Consumer Interest in a Low Interest-Rate Environment
{December 4th, 2011} by Cary J. Carney
By Cary J. Carney InsuranceNewsNet Magazine, December 2011 The recent low interest rates—a boon for consumers seeking great mortgage deals—have also been a bust for those seeking income from interest-linked financial instruments. In early October, the three-month London Interbank Offered Rate (LIBOR) rate, which drives a range of such instruments, was below 0.4 percent. Such […]
59½ or older and still working? Consider a 401(k) rollover
{December 4th, 2011} by Susan L. Moore Vault
Posted: Friday, December 2, 2011 7:00 am “The question isn’t at what age I retire, it’s at what income.” – George Foreman, former World Heavyweight Boxing Champion and entrepreneur Since the advent of the Defined Contribution Plan – the 401(k) – people have had to deal with choices of various securities: stocks, bonds and mutual […]
The Hartford, Sun Life, Transamerica, Curian Capital Unveil New Offerings
{December 4th, 2011} by Warren S. Hersch
By Warren S. Hersch December 2, 2011 The Hartford Financial Services Group Inc. (NYSE: HIG) Simsbury, Conn., has introduced two fixed index annuities that aims to help risk-averse investors build retirement assets amid historically low interest rates. The new fixed index annuities offer principal protection with the potential to earn interest from three interest crediting […]
Calif. Commissioner Reminds Seniors New Annuity Protections Take Effect Jan. 1
{December 4th, 2011} by N/A
Targeted News Service SACRAMENTO, Calif., Dec. 1 — The California Department of Insurance issued the following news release: Responding to new U.S. Census data released this week indicating a rapidly-growing older population, Insurance Commissioner Dave Jones today reminded consumers that new sweeping annuity protections take effect January 1, 2012. “For far too long, seniors have […]
Fixed Annuity Sales Fall in 3Q, But Some Segments See Increases
{December 4th, 2011} by Lee Conrad
December 01, 2011 | Source Media, Inc. Email Print Free Newsletter Lee Conrad Fixed annuity sales fell 7% in the third quarter to$19 billion, according to Beacon Research’s Fixed Annuity Premium Study. For the year to date, sales fell slightly less than 1% to$58.3 billion. Beacon divides the fixed-income universe into four segments: Fixed-rate MVAs, […]
Beacon CEO: Fixed-Annuity Writers Deliberately Pulling Back Sales Amid Low Interest Rates
{December 4th, 2011} by Fran Matso Lysiak
By Fran Lysiak A.M. Best Company, Inc. Total third-quarter 2011 U.S. sales of individual fixed annuities, including indexed, declined 7% from the same period a year ago and from the second quarter, to about $19 billion, according to Beacon Researchand the Insured Retirement Institute. As long as low interest rates persist, “it’s going to be […]
The 10/10 Rule: Ineffective and spreading like wildfire
{November 28th, 2011} by Sheryl J. Moore
By Sheryl J. Moore AnnuitySpecs.com Limiting surrender charges on annuities because of bad agent behavior is like outlawing automobiles because they are used in the process of drunken driving deaths. More than a quarter of the states in our nation have insurance commissioners that have chosen to implement a rule which is fueled by false […]
A House Divided over Agent Commissions
{November 28th, 2011} by Elizabeth Festa
By Elizabeth Festa November 23, 2011 The NAIC doesn’t lobby in Washington, but a divisive action this week makes it look to some state insurance regulators as if it is doing just that. According to some key state regulators in a recent conference call, the NAIC is making a key healthcare reform issue a political […]
The Hidden Benefits Of Life Insurance
{November 28th, 2011} by Thomas A. Heitz
By Thomas A. Heitz InsuranceNewsNet Believe it or not – life insurance is much more than a policy that just provides coverage for one’s life. Many Americans do not truly understand what a life insurance policy has to offer. Unfortunately, due to this lack of life insurance knowledge, only one-third of Americans are covered by […]
IRI Reports 3Q VA Product Changes Slow, Benefits Trending More Generous
{November 28th, 2011} by N/A
Lifetime GMWB Benefits Garner More Than 60% of New Sales Flows WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today released a report on product trend updates within the U.S. variable annuity market. Compiled by Morningstar, the report found that variable annuity benefit activity for the third quarter slowed significantly from the robust filings made […]
LIMRA: 3Q Individual Life Insurance Sales Up 6%
{November 28th, 2011} by N/A
Source: Targeted News Service WINDSOR, Conn., Nov. 22 — LIMRA issued the following news release: Total individual life insurance premium grew six percent in the third quarter and five percent in the first nine months of 2011, due in large part to robust whole life sales (WL), according to LIMRA’s U.S. Individual Life Insurance […]
How to Use Annuities for Retirement Income
{November 27th, 2011} by Phil Moeller
August 2, 2011 RSS Feed Print With retirement outlooks growing increasingly uncertain, the safety of guaranteed income streams looks more attractive each day. Annuities can provide such guarantees, so let’s take a look at them and consider whether they make sense for you. Simply stated, an annuity is a financial product sold by insurance companies […]
Panel: Low Rates Batter UL But Value Still Strong
{November 27th, 2011} by Linda Koco
By Linda Koco InsuranceNewsNet PHOENIX – Carriers that offer universal life policies with secondary guarantees (ULSG) have responded to the low-interest rate environment by shortening the length of their guarantees, exiting the market altogether, or raising rates, said John Deremo, of Protective Life, during a panel here. Now the industry needs to bring value […]
A Rational Look at a Much Maligned Product
{November 27th, 2011} by Bob Seawright, Madison Avenue Securities
Fixed index annuities have generated a great deal of criticism, but it seems that they succeed in the objectives for which they were designed. Few products within the financial services industry have received as much consistent criticism as fixed index annuities. An FIA is a type of deferred fixed annuity that earns interest or provides […]
A Woman’s World?
{November 27th, 2011} by Nichole Morford
On sexism and insurance By Nichole Morford November 21, 2011 Women make up 50 percent of the U.S. workforce, and 57 percent of the student population at American universities. Among graduate students, the percentage is slightly higher: 59 percent are female. And, across every industry, there are powerful, public female leaders, from political dynamos (Secretary […]
Guide Clients Down The Right Annuity-Route
{November 27th, 2011} by Maureen McLaughlin
By Maureen McLaughlin AnnuityNews In addition to securing your client the most effective, personalized life insurance, most agents also recognize the need to educate their prospects about the benefits provided by annuities. Our agents find it particularly important that we take our level of service and coverage to the next level, striving to guarantee that […]
Insights into the annuity puzzle
{November 25th, 2011} by N/A
Why do most people love pensions but hate annuities? View the full story via InvestmentNews; registration required
Phoenix CEO: Merger Talks Failed on Gap Between Share Price, True Worth
{November 23rd, 2011} by Robert O'Connor
Best’s News Service – November 21, 2011 03:56 PM LONDON – The failure of talks between Phoenix Group Holdings and Resolution Group about a possible merger reflected some frustration within Phoenix at the gap between its share price and what it sees as its true worth. That view was offered by Clive Bannister, group chief […]
U.S. 3Q VA Sales Down 2% From 2Q Amid Rocky Stock Markets
{November 23rd, 2011} by Fran Lysiak
Fran Lysiak Source: A.M. Best Company, Inc. Total third-quarter 2011 sales of variable annuities in the United States rose to $40.2 billion, an increase of 16% from the same period a year earlier, but fell 2% from this year’s second quarter, according to LIMRA. As the U.S. experiences a protracted low interest rate environment […]
AnnuitySpecs.com CEO: 'Relatively Attractive Rates' Helping US Sales of Indexed Annuities
{November 21st, 2011} by Fran Lysiak
Fran Lysiak Total third-quarter 2011 sales of indexed annuities in the United States were $8.7 billion, down less than 1% from the same period a year ago but up 5% from the second quarter, according to AnnuitySpecs.com, a firm that tracks the data. The third-quarter sales volume was second only to the same quarter a […]
Indexed Annuity Sales Climb in Third Quarter
{November 19th, 2011} by Maria Wood
By Maria Wood November 18, 2011 As variable annuity sales (VA) rise, so, too, are those of indexed annuities (IA). According to a third-quarter report from AnnuitySpecs.com, total IA sales hit $8.7 billion, up more than 5 percent from the previous quarter. Compared to the same period in 2010, sales decreased by less than 1 […]
LIMRA: VA Sales Enjoy Double-Digit Growth in Third Quarter
{November 19th, 2011} by Warren S. Hersch
By Warren S. Hersch November 17, 2011 For the second consecutive quarter, variable annuity sales improved 16% compared to the prior year, totaling $40.2 billion in the third quarter, according to a new report. LIMRA, Windsor, Conn., published this finding in its U.S. Individual Annuities Sales survey. The report represents data from 94% of the […]
Liberty Life Selects iPipeline to Automate Marketing, Selling and Processing of Annuities
{November 18th, 2011} by N/A
Forms, Illustrations, Data Services, iGO e-App and e-Policy to Deliver Integrated Agent Experience EXTON, Pa., Nov 17, 2011 (BUSINESS WIRE) — iPipeline(R), the leader in on-demand marketing, selling and processing solutions for the nation’s top insurance carriers, distributors and producers, today announced that Liberty Life Insurance Company, the retail annuity subsidiary of Athene Holding Ltd., […]
John Hancock latest to pare variable annuity distribution
{November 17th, 2011} by Darla Mercado
B-Ds get notice of pullback as job cuts in annuity unit are reported By Darla Mercado November 16, 2011 Under pressure from low interest rates and market volatility, John Hancock Financial Services Inc. is joining the ranks of carriers’ pulling its variable annuities from most distributors’ shelves. Notice of the change was given to most […]
Annuity Complexities Suppress Sales, Study Says
{November 17th, 2011} by N/A
November 15, 2011 The complexity of annuities and the lack of knowledge advisors and investors have about them are big roadblocks to sales growth, according to a new study by Cogent Research and the Insured Retirement Institute. Although most advisors say they are very familiar with annuities, only 40% indicate they are very or extremely […]
Uncapped: What does it really mean?
{November 17th, 2011} by Luke Britt
Added: November 9, 2011 If there is a large growth in the index over the term of the crediting strategy, the uncapped method may produce the best result. But it is not always the case. Recently, like many of you, I received a cold call from a marketing company offering an indexed annuity that is, […]
The Ohlson Group, Inc Acquires Controlling Interest of SafeMoneyPlaces.com
{November 17th, 2011} by Terri Gearlds
November 15, 2011 Carmel, IN – Raymond J. Ohlson, CLU, CRC, President and CEO of The Ohlson Group, announces that SMP International, LLC, has acquired www.safemoneyplaces.com. The Ohlson Group, a national insurance marketing and consulting firm, has majority ownership and management control of SMP International LLC. Jack Marrion, founder of Safe Money Places, remains as […]
Diamonds Are Forever…So Are Annuities
{November 17th, 2011} by Raymond J. Ohlson
Posted By: Editor On 11/9/2011 10:10:00 PM By Raymond J. Ohlson AnnuityNews.com Most people marvel at the lighthouse, a simple structure that played such a big role in navigating the sea. The lighthouse was designed to emit a beacon of light as an aid for ships at sea or on inland waterways. Lighthouses […]
Liquidity: Annuity Buyers Want It but Most Don’t Use It
{November 17th, 2011} by Linda Koco
Posted By: Editor On 11/16/2011 11:33:00 AM By Linda Koco Contributing Editor, AnnuityNews Liquidity features may be the apple of the annuity buyer’s eye – but relatively few policyholders actually use them, according to advisors. “I think 99.9 percent of people have liquidity in their minds,” says Mark Lindsey, founder and producer with The Revolution […]
Why are indexed life caps so much higher than indexed annuities?
{November 17th, 2011} by Sheryl J. Moore
By Sheryl J. Moore AnnuitySpecs.com On annuities, insurance companies only have one way to make a profit — through a spread. On life insurance products, insurance companies have several ways that they can make a profit. The number one question asked since historical-low interest rates have depressed indexed annuity caps is, “Why are the caps […]
Brokerage Industry Leader Roger McCarty Dies
{November 17th, 2011} by November 16, 2011
As leader of one of the nation’s largest brokerage firms, McCarty spearheaded the development of lead-generation programs, seminar systems, online marketing systems, product and agent sales training. By Warren S. Hersch November 16, 2011 Roger McCarty, a leader of one of the nation’s largest independent marketing organizations who spearheaded educational and training programs for life […]
Study Shows Annuity Industry Poised for Growth
{November 16th, 2011} by Anne Fallon
CAMBRIDGE, Mass., Nov 15, 2011 (BUSINESS WIRE) — Two major changes are taking place in the annuity industry today. According to a new report released by Cogent Research and the Insured Retirement Institute (IRI), conversations with advisors have become more emotional and are heavily geared toward securing retirement income as opposed to accumulating assets. In […]
Total 3Q Annuity Sales Up 5% From Quarter-Prior
{November 16th, 2011} by Advantage Group Associates
November 15, 2011 Forty-one indexed annuity carriers participated in the 57th edition of AnnuitySpecs.com’s Indexed Sales & Market Report, representing 99% of indexed annuity production. Total third quarter sales were $8.7 billion, up over 5% from the previous quarter. As compared to the same period last year, sales were down less than 1%. “This was […]
Fixed Annuities: The Missing Piece of Your Retirement Planning Puzzle?
{November 15th, 2011} by Doug Lockwood
By Doug LockwoodNovember 14, 2011 RSS Feed Print Doug Lockwood Increasingly, the responsibility for funding a comfortable retirement is shifting from the employer and the government to the individual. Many people contribute to employer-sponsored retirement plans and IRAs, but there is another tax-advantaged retirement vehicle that shouldn’t be overlooked: annuities. Annuity essentials An annuity […]
Securian Promotes, Appoints Five to National Account, Retail Wholesaling Positions
{November 15th, 2011} by N/A
press release Nov. 14, 2011, 1:00 p.m. EST ST. PAUL, Minn., Nov 14, 2011 (BUSINESS WIRE) — Securian Financial Group, Inc. reorganized its retail products distribution system with a new hire, promotions for three people and expanded responsibilities for another. “These changes create a staffing structure with the resources to drive sales and revenue growth […]
First Annual LifeHealthPro Industry Survey
{November 15th, 2011} by Maria Wood
By Maria Wood November 9, 2011 This year, Senior Market Advisor, part of LifeHealthPro.com, decided to do its first-ever Industry Survey to gauge the current attitude of advisors and others in the business of marketing insurance products to seniors as well as their outlook for the future. We also asked what gives their client sleepless […]
AnnuitySpecs.com Releases Third Quarter, 2011 Indexed Sales Results
{November 15th, 2011} by Sheryl J. Moore
— FOR IMMEDIATE DISTRIBUTION — AnnuitySpecs.com Releases Third Quarter, 2011 Indexed Sales Results Forty-one indexed annuity carriers participated in the 57th edition of AnnuitySpecs.com’s Indexed Sales & Market Report, representing 99% of indexed annuity production. Total third quarter sales were $8.7 billion, up over 5% from the previous quarter. As compared to the same period […]
Third Quarter 2011 Indexed Insurance Sales
{November 15th, 2011} by Sheryl J. Moore
Indexed Annuity AnnuitySpecs.com’s Indexed Sales & Market Report, 3rd Quarter 2011 shows third quarter 2011 indexed annuity sales were $8702 million, compared with sales of $8772 million for the third quarter of 2010. Third quarter indexed annuity sales were up over 5% when compared with the previous quarter, and down less than 1% when compared […]
NAFA IMO Summit: Innovation, Competition Key to New Annuity Universe
{November 14th, 2011} by Daniel Williams
If you have a roomful of annuity experts together, you’d think there’d be more debate and disagreement, but that’s not the case. Oct. 19-21 in Boca Raton, Fla., the 2011 NAFA IMO Summit, “Building on Success,” took place and you would have thought it was the pastor preaching to the choir there were so many amens spoken. […]
Variable Annuity Sales Surge In 3Q; Fixed Sales Fall
{November 12th, 2011} by N/A
Copyright: (c) 2011 Financial Planning. All rights Reserved. Source: Source Media, Inc. Wordcount: 231 The Insured Retirement Institute said third-quarter annuity sales rose to $57 billion in the third quarter, up 5% from the year-ago period. Sales year-to-date were $175.4 billion, up from $163.1 billion in 2010. Demand for guaranteed lifetime retirement income in the […]
Industry Wide Annuity Sales Climb From 2010 Levels
{November 12th, 2011} by N/A
VA Sales on Pace to Exceed $150 Billion for 2011 / Indexed Capture Nearly Half of Fixed Market WASHINGTON, D.C. –The Insured Retirement Institute (IRI) today announced preliminary third quarter results for the United States annuity industry. Annuity sales for the third quarter continue to increase, outpacing levels from the same time period last year. […]
Why are Indexed Life Caps So Much Higher Than Indexed Annuities’?
{November 11th, 2011} by Sheryl J. Moore
Number one question asked since historical-low interest rates have depressed indexed annuity caps: “Why are the caps on indexed life insurance products so much higher than those on indexed annuities?” Good question. Simple answer. Let us explore how insurance companies are able to make a profit on each of these products. On annuities, insurance companies […]
At What Interest Rate Would People Stop Buying Fixed Annuities?
{November 10th, 2011} by Brian D. Mann
November 09, 2011 By Brian D. Mann AnnuityNews.com This article’s title is an intriguing question, and it appears the answer is that they would never stop. Ever since I entered the industry, interest rates have been dropping, and yet fixed annuity sales have continued to rise. Part of the reason sales continue to […]
An Index Annuity ‘Alternative’ (with Double-Digit Cap Rates)
{November 10th, 2011} by Michael Ham
November 7, 2011 By Michael Ham Build a better mouse trap and the world will beat a path to your door. -Ralph Waldo Emerson Not only do seniors want the protection and guarantees of an annuity but baby boomers, too, are seeking out the benefits of tax deferral and historically higher potential crediting rates associated […]
Money fund yields in variable annuities often less than zero
{November 9th, 2011} by John Waggoner
Click here to read this article.
Carriers Back Away from Registered Indexed Annuities
{November 9th, 2011} by Linda Koco
November 09, 2011 By Linda Koco Contributing Editor, AnnuityNews ING Groep NV stopped selling registered indexed annuities at the end of October, and now some annuity watchers are wondering if that spells the end of the registered indexed annuity marketplace. Probably not, but registered sales will likely swoon for a while. The question comes up […]
Primerica Reps to Distribute Lincoln Financial Indexed Annuities
{November 9th, 2011} by John Sullivan
The 82,000 Primerica employees are largest licensed annuity sales force in the U.S. By John Sullivan, AdvisorOne November 8, 2011 Lincoln Financial Group got a big boost to its annuity distribution channel Monday when it announced that 82,000 Primerica reps will now have access to Lincoln’s fixed indexed annuity products. According to the companies, implementation […]
ING Unveils Time-Saving Illustration Mobile Tool for On-The-Go Life Insurance Agents
{November 8th, 2011} by N/A
ING Life Companies’ (ING) New Life Illustration Express Mobile provides agents with instant access to run illustrations and compare premiums for multiple life products from their mobile devices By ING U.S. ING U.S. Last modified: 2011-11-07T16:19:55Z Published: Monday, Nov. 7, 2011 – 8:19 am Copyright 2011 . All rights reserved. This material may […]
NAIC to Scrutinize Contingent Annuities
{November 8th, 2011} by Elizabeth Festa
MetLife just says No to contingent annuities The NAIC is forming a working group to study the new market of contingent annuities and similarly designed products from an actuarial and policy standpoint, as various parties in the industry diverge on how the product should be classified and if, indeed, they should be sold under existing […]
New Indexed Universal Life Solution From Nationwide Can Help Advisors Give Clients a Balanced Life
{November 7th, 2011} by Business Wire
COLUMBUS, Ohio–(BUSINESS WIRE)–The recent market volatility has prompted many advisors to look for life insurance solutions that can help clients achieve their goals while minimizing the impact of market fluctuations. Nationwide Financial Services, Inc. today announced the launch of Nationwide YourLife®Indexed UL, a fixed life product that can offer clients the potential for growth and […]
Lincoln National's universal life reserves are 'more than adequate': CEO
{November 7th, 2011} by Darla Mercado
Responds to fresh scrutiny on reserve calculations By Darla Mercado November 3, 2011 Amid state insurance regulators’ questions on whether carriers are properly reserving against a certain type of universal life insurance, Lincoln National Corp.’s CEO today stressed the insurer has sufficient reserves for its products. State insurance regulators in the National Association of Insurance […]
The Top 5 Scariest Things About Life Insurance
{November 7th, 2011} by N/A
Source: PR Newswire Association LLC Wordcount: 734 DARIEN, Ill., Oct. 31, 2011/PRNewswire/ — Life Quotes, Inc.has compiled a list of the top 5 scariest things about life insurance, calling attention to the importance of going over your life insurance policy with a trusted insurance agent no less than once a year to make sure that […]
Brian Mann Elected to the NAFA Board of Directors
{November 7th, 2011} by N/A
By Partners Advantage Insurance Services Partners Advantage Insurance Services Colton, CA (November 2, 2011) – The National Association for Fixed Annuities (NAFA) has elected Brian D. Mann of Huntington Beach, Calif., to join its board of directors during the association’s annual meeting held on Oct. 20 in Boca Raton, Florida. Mann is the Senior Vice […]
Is The Annuity Your Client Purchased Bad?
{November 5th, 2011} by Sheryl J. Moore
By Sheryl Moore AnnuityNews Lately, consumer inquiries through AnnuitySpecs.com have increased exponentially. One topic in particular seems to be at the forefront of these pre-retirees minds over the last six months: “Is the annuity that I am considering bad or good?” This was likely fueled by a recent Barron’s article that I consulted on, “The […]
NAIC ELECTS 2012 OFFICERS
{November 5th, 2011} by N/A
NATIONAL HARBOR, Md. (Nov. 4, 2011) — Members of the National Association of Insurance Commissioners (NAIC) today elected its 2012 officers: President: Florida Insurance Commissioner Kevin M. McCarty President-Elect: Louisiana Insurance Commissioner James J. Donelon Vice President: North Dakota Insurance Commissioner Adam Hamm Secretary-Treasurer: Montana Commissioner of Securities and Insurance Monica J. Lindeen The newly […]
Companies Apply Annuity Balm for Retirement Pain
{November 5th, 2011} by Linda Koco
November 02, 2011 By Linda Koco Contributing Editor, AnnuityNews Recent annuity product rollouts are putting the spotlight on retirement income strategies as opposed to the how-much-you-can-accumulate focus of yesteryear, and advisors are of two minds about that. So many of the new annuity debuts mention retirement income that annuity historians may one day call this […]
ING to Cut 2,700 Jobs as It Announces Improved 3Q Results
{November 5th, 2011} by Robert O'Connor
AMSTERDAM, Netherlands – Reporting improved third-quarter results within a broader climate of economic uncertainty, Netherlands-based global financial services provider ING Group announced the elimination of 2,700 jobs. ING Group announced an underlying third-quarter net result of 1.28 billion euros (US$1.76 billion), up from 835 million euros for the third quarter of 2010. “As income is […]
SEC Presses for Better Disclosure on VA Living Benefits
{November 5th, 2011} by Arthur D. Postal
November 3, 2011 By Arthur D. Postal WASHINGTON—The Securities and Exchange Commission is paying close attention to the disclosures related to variable annuities that contain living benefit features. These concerns include the disclosures related to VAs with a living benefit feature that use derivatives to enhance yields, about the “guarantees” included in these products, and […]
Bill would permit penalty-free withdrawals to make mortgage payments
{November 5th, 2011} by N/A
Legislation introduced in the Senate (S. 1656) by Sen. Johnny Isakson (R-GA) would allow taxpayers under certain conditions to make penalty-free withdrawals from their retirement accounts to pay mortgage payments with respect to their principal residence. In addition, the bill would also make conforming modifications to the rules governing hardship distributions. A companion measure was […]
John Hancock Life Insurance Launches New Indexed Universal Life and Premier Life Products
{November 2nd, 2011} by N/A
— Indexed UL Offers Cash Value Accumulation Potential With Guaranteed Protection Against Market Downturns — Optional Uncapped Indexed Account Credits Interest Annually Without A Ceiling On The Amount Of Interest Credits — Premier Life Combines Predictable Benefits Of Whole Life With Adaptability Of Flexible Premium Adjustable Life Insurance Policies BOSTON, Nov. 1, 2011 /PRNewswire/ — […]
Ruth B. Smith Promoted to Executive Vice President of National Life Group
{November 2nd, 2011} by N/A
Montpelier, Vermont – Ruth B. Smith has been promoted to the position of executive vice president for protection at National Life Group, it was announced today by Mehran Assadi, president and chief executive officer. Since 2009 Smith has been in charge of the life insurance division of National Life Group, a Fortune 1000 company with […]
How to sell FIAs in any market
{November 2nd, 2011} by Karlan Tucker
By Karlan Tucker Tucker Advisory Group In a diversified portfolio, you get some of the up and some of the down. In the FIA world, you get some of the up and none of the down. To enjoy a successful career in selling fixed indexed annuities, you have to be able to sell them in […]
AXA Equitable Names New Executive Vice President
{November 1st, 2011} by N/A
Copyright: (c) 2011 Journal of India via VerticalNews.com Source: NewsRx Wordcount: 513 AXA Equitable Life Insurance Company announced that Andrea Nitzan has been elected to the position of executive vice president, and that Kenneth Kozlowski and Melisa Waters have been elected to the position of senior vice president. The appointments were confirmed during a recent […]
ING to shutter registered indexed annuity
{October 29th, 2011} by Darla Mercado
Insurer in talks with wirehouses about switching to unregistered version By Darla Mercado October 28, 2011 ING Groep NV will close its registered indexed annuity to new sales Oct. 31 after a little more than a year. Low interest rates were a major driver in ING’s decision to shutter the annuity, according to Chad Tope, […]
Guaranteed Income: A Silver Bullet for Annuities
{October 27th, 2011} by Daniel Williams
October 24, 2011 By Daniel Williams In many ways, annuities are under siege. If those who sell annuities or who market or produce them aren’t under fire by regulators, pushing for securitization of the product, then we see another battle brewing: the field getting even more competitive as banks and broker-dealers, among others, join the […]
New Fixed Annuity From Security Benefit Life Insurance Company Brings Flexibility to 403(b) Marketplace
{October 27th, 2011} by N/A
press release Oct. 26, 2011, 11:03 a.m. EDT “Total Interest Annuity” Features Ability to Accept Continuing Contributions TOPEKA, KS, Oct 26, 2011 (MARKETWIRE via COMTEX) — Security Benefit Corporation, a Guggenheim Partners Company, today announced the launch of the Total Interest Annuity issued by its subsidiary Security Benefit Life Insurance Company (SBL), SBL’s first fixed […]
Andrew Stolfi Named Acting Director of Illinois Insurance Department
{October 27th, 2011} by Jeff Jeffrey
Best’s News Service – 10/26/2011 12:20 pm SPRINGFIELD, Ill. – Illinois Gov. Pat Quinn has named Andrew Stolfi as acting director of the Illinois Department of Insurance, filling the vacancy created when former director Michael McRaith stepped down to become the first director of the Federal Insurance Office. Prior to Quinn’s appointment, Stolfi spent two […]
DTCC Releases September Reports On Market Activity For Annuity Products
{October 27th, 2011} by N/A
Copyright: Copyright Business Wire 2011 Source: Business Wire, Inc. Wordcount: 744 NEW YORK–(BUSINESS WIRE)–The Depository Trust & Clearing Corporation (DTCC) Insurance& Retirement Services (I&RS) released today September reports on activity in the market for annuity products from its Analytic Reporting for Annuities online information service, which is based on the transactions that DTCC processes for […]
Indexed life insurance gets sexy
{October 25th, 2011} by Sheryl J. Moore
Added: October 24, 2011 The latest trend in the indexed life market is a new type of crediting strategy, commonly referred to as a “multiple index” crediting method, and it is turning heads. Now there are three words you don’t see in the same sentence every day: “life insurance” and “sexy.” Yet, there they are […]
The ABCs of Annuities
{October 25th, 2011} by Allianz Life
Please click here for a video from Allianz on the ABCs of Annuities.
New Allianz Life Animated Video Series Demystifies Today’s Annuities
{October 25th, 2011} by N/A
The “ABCs of Annuities” Dispels Misperceptions and Educates Consumers MINNEAPOLIS, Oct 24, 2011 (BUSINESS WIRE) — Allianz Life Insurance Company of North America (Allianz Life) today launched The ABCs of Annuities, a new animated three-video series that demystifies today’s annuities. Each three- to five-minute segment explores a separate topic: Retirement Realities, Annuity Basics, and Annuity […]
Americans' Trust In Retirement Drops 20%
{October 24th, 2011} by N/A
Copyright: Copyright Business Wire 2011 Source: Business Wire, Inc. Wordcount: 833 Retirement confidence drops nearly 20% in 2011, hitting four-year low One in five working Americans plan to never retire Owners of annuities, long-term care insurance feel more confident WELLESLEY, Mass.–(BUSINESS WIRE)–American workers’ trust in their future retirement has reached a four-year low, according to […]
Allianz Life Hires Jeff Palm as New Chief Information Officer
{October 24th, 2011} by N/A
Copyright: Copyright Business Wire 2011 Source: Business Wire, Inc. Wordcount: 286 MINNEAPOLIS–(BUSINESS WIRE)– Allianz Life Insurance Company of North America (Allianz Life), today named Jeff Palm as the new senior vice president and chief information officer. In his new role, Palm will be responsible for leading the Allianz Life IT organization and will report to […]
Founder of American Financial Lindner Dies
{October 24th, 2011} by Sean Carr
Copyright: (c) 2011 A.M. Best Company, Inc. Source: A.M. Best Company, Inc. Wordcount: 416 Carl H. Lindner Jr., the founder and chairman of American Financial Group, died Oct. 17. He was 92. Lindner, who had remained at the helm of the insurer until his death, founded the company in 1959. His diverse business interests also […]
Mark A. Farr, CLU, ChFC, FLMI Joins The Ohlson Group
{October 24th, 2011} by Terri Gearlds
Carmel, IN – October 3, 2011- Raymond J. Ohlson, CLU, CRC, President and CEO of The Ohlson Group, announces that Mark A. Farr, CLU, ChFC, FLMI, has joined the company in the newly created position as Financial Services Consultant to the property and casualty industry in Indiana. Farr will be working with Gary Ryan, J.D, […]
What If Interest Rates Keep Falling?
{October 24th, 2011} by Linda Koco
What If Interest Rates Keep Falling? By Linda Koco InsuranceNewsNet NEW YORK CITY –A falling interest rate environment will spur some customers to look for opportunities for upside potential, and that can affect the products and strategies that agents and companies take, according to Timothy C. Pfeifer, president of Pfeifer Advisory. The Libertyville, Ill., product […]
Annuity, Insurance and LTC Owners Express Greater Retirement Confidence
{October 24th, 2011} by Warren S. Hersch
October 19, 2011 By Warren S. Hersch Owners of variable annuities, life insurance with a long term care benefit, or long term care insurance feel 20% more confident about retirement than do others, according to a new survey. Sun Life Financial Inc., Wellesley, Mass., reached this conclusion in the fall 2011 release of its U.S. […]
ACLI Elects New York Life's CEO Mathas as its Chairman
{October 24th, 2011} by Elizabeth Festa
October 18, 2011 By Elizabeth Festa The American Council of Life Insurers elected Theodore “Ted” Mathas, Chairman, President and CEO of New York Life Insurance Co. as its 2012 chairman at its annual conference this week in Orlando. The ACLI also elected James T. Morris, Chairman, CEO of Pacific Life Insurance Co. to its chairman-elect […]
Half of Millennial Generation Doubts Social Security Will Exist for Them
{October 24th, 2011} by Staff Writer
October 19, 2011 By Staff Writer “Measure of Millennials,” a new study released by the iOMe Challenge organization, shows that 50% of Millennials do not believe that Social Security will exist when they reach their retirement years. The study of a representative sample of 642 18-29 year-olds across the U.S. was conducted in August by […]
Safety First
{October 24th, 2011} by Van Mueller
October 17, 2011 By Van Mueller Historically, September is the most dangerous month of the year for stocks. October is the second most dangerous month. This is compounded by the fact that the global economy is facing one of the most perilous times in history. Knowing this information, what should our clients’ strategy be? Safe. […]
Broker-Dealers to Jump on Annuity Bandwagon
{October 24th, 2011} by Daniel Williams
October 17, 2011 By Daniel Williams Almost every economic indicator out there points to doom and gloom. Not to mention, we have the Occupy Wall Street folks swelling in number and in geography. But somebody forgot to tell the annuity industry. According to a recent article on LifeHealthPro.com, transactional productivity for fixed and variable annuities […]
Index Life & Annuity Forum
{October 24th, 2011} by Sheryl J. Moore
Home // // Index Life & Annuity Forum – Orlando Thursday, November 03, 2011 8:00 AM – Friday, November 04, 2011 1:00 PM (Eastern Time) Omni Orlando Resort at ChampionsGate (407) 390-6664 1500 Masters Blvd. ChampionsGate, Florida 33896 United States Map and Directions All Travel Arrangements and Hotel Accomodations will be the […]
Bank Annuity Sales Take Off, with Wells Fargo Leading the Way
{October 18th, 2011} by Elizabeth Festa
October 14, 2011 By Elizabeth Festa Bank holding company sales of annuities rose 25% in the first half of 2011 over the first half the previous year, hitting a record $1.53 billion in income earned, a hefty chunk of their total mutual fund/annuity income total, according to a report sponsored by the American Bankers Insurance […]
It Is An Exciting Time to Have Indexed Life in Your Arsenal
{October 16th, 2011} by Sheryl J. Moore
For nearly 15 years I have been singing the praises of Indexed Life. For much of that time, people ignored my preaching about this product rich in guarantees, which also gave the ability to earn interest based on the market’s performance. WELL NOT ANYMORE! At the close of 2010, Indexed Life sale eclipsed VUL sales […]
Zenith Marketing Group Hires James P. Farrell as Vice President of Brokerage Sales
{October 16th, 2011} by N/A
Zenith Marketing Group Inc., with offices in Freehold, NJ, Charlotte, NC, York, PA, and Wayne, PA announces the hiring of James P. Farrell as Vice President/Brokerage Sales. In his new role, Mr. Farrell will manage and develop relationships with independent producers, independent marketing organizations, and broker/dealers to increase sales of life insurance, annuities, long-term care, […]
The Role of Fixed Indexed Universal Life Insurance as a Retirement Income Tool
{October 14th, 2011} by Dennis Sudac
October 12, 2011 By Dennis Sudac There would have been virtually no need for Fixed Indexed Universal Life if it had existed in the 1760s, when life insurance was first introduced in North America. One of the major attractions of FIUL – the ability to accumulate cash for tax-efficient retirement income planning – would hardly […]
Haste Makes Waste When Selling Annuities
{October 13th, 2011} by Lev Barinskiy
Lev Barinskiy AnnuityNews.com Selling requires patience. And this is especially true when selling a complex product such as annuities. If you rush through any step in the sales process, you risk alienating your customer with a style that feels high pressure and uncomfortable to them. Each step must be conducted with skill and thoroughness. And […]
