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Archive for December 2015


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  • WalletHub’s 16 For ’16: Financial Resolutions For The New Year

    {December 31st, 2015} by John S. Kiernan

    The first of the year always brings with it the promise of new beginnings and the burden of self-improvement. Fueled by the nostalgia of the holidays, armed with a year’s worth of regrets, and unleashed by the ceremonialism and ritual of the calendar’s turn, some 45% of Americans decide to make New Year’s resolutions each […]

    Make the annuity sale a part of your New Year’s resolutions

    {December 31st, 2015} by Rich Lane

    As the year winds down, now is a perfect time to step back and evaluate your annuities sales strategies. Considering the previous 12 months, think about what worked, failed or didn’t quite hit the mark. Ask yourself how changing market conditions are affecting the way you connect with clients and how we do business. The […]

    Year in Review: Aon, The Principal Financial Group, BOA

    {December 30th, 2015} by Nick Thornton

    How 2016 may look and why 2015 was important Which recordkeepers dominate the 401(k) market? That depends on the segment of the market being serviced, according to the Investment Company Institute and BrightScope’s dissection of the plan providers. When accounting for 401(k) plans of all sizes, insurance companies with built-in recordkeeping businesses have the most […]

    Year in Review: Prudential, John Hancock, ADP execs

    {December 30th, 2015} by Nick Thornton

    A look ahead to 2016 and a review of 2015 in the retirement planning industry Will 2016 be the year plan sponsors begin to demand more in-plan retirement income options? Analysts at Cerulli Associates have their doubts. The Boston-based consultants recently reviewed sponsors’ perspectives on in-plan annuities. Of plans with at least $100 million in […]

    Year in review: Transamerica, Vanguard, and OneAmerica execs

    {December 30th, 2015} by Nick Thornton

    The past year saw the defined contribution market searching for the forest through the trees, says Drew Way. A senior retirement analyst at New York-based Corporate Insight, Way tracks 19 of the largest service providers, mapping product rollouts and offerings to participants at a granular level. “The DC industry seems to have taken a step […]

    SEC exams pinpoint advisors’ retirement business

    {December 30th, 2015} by Nick Thornton

    The Securities and Exchange Commission is making good on the exam priorities it pledged early in 2015. One of those priorities was to take a closer look at how registered advisors comply with the Advisors Act when it comes to overseeing their clients’ assets in 401(k) and IRA accounts. The SEC’s Office of Compliance Inspections […]

    6 industry execs on what to expect in 2016

    {December 30th, 2015} by Nick Thornton

    We look ahead to 2016 by asking six retirement industry executives what they see coming in the defined contribution plan space. One trend we’ve seen is that of consolidation, which analysts confirm. “Recordkeeping costs for sponsors and participants are half what they were 10 years ago,” says Brooks Herman, head of data research at BrightScope, […]

    FIAs remained strong in 2015 and will grow in 2016

    {December 30th, 2015} by Peggy Bresnick

    2015 is just about over, and with the New Year about to begin, there’s no better time for a quick look back at fixed indexed annuity (FIA) changes, challenges and growth over the past 12 months—and ahead at what the industry can likely expect in 2016. Jim Poolman, executive director of Indexed Annuity Leadership Council […]

    Prime time for private equity-backed insurance brokers

    {December 30th, 2015} by Warren S. Hersch

    Just how large a foothold does private equity have in the merger and acquisition market for insurance brokerage agencies? In two words: a lot. Private equity-backed acquirers are in fact the dominant presence in the M&A space. According to a 2015 report by MarshBerry, a financial consulting and M&A advisory firm, PE-backed insurance brokers accounted […]

    Rising Interest Rates Give Hope To Battered LTC Industry

    {December 30th, 2015} by Juliette Fairley

    When Shirley Luu secures long-term-care coverage for her clients, she prefers using fixed-indexed annuities with an LTC rider rather than through a traditional insurance policy. “There are clients who feel paying for a stand-alone long-term-care insurance policy could be a waste of money if they never use it,” Luu told Financial Advisor. “With a fixed-indexed […]

    Ahead in 2016: Insurers Seek to Reduce Regulatory Burden

    {December 30th, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

    WASHINGTON – Celebrating significant victories in 2015, insurance companies and trade groups are looking for further success, specifically by reducing the domestic and international regulatory burdens they say are making it difficult to survive in the increasingly competitive global marketplace. Congress recently granted significant relief to health insurers by postponing for two years the implementation […]

    3 business models for achieving success in 2016

    {December 30th, 2015} by Warren S. Hersch

    Opportunities aplenty await the market-savvy life insurance and financial service professional in 2016. That’s the good word from ZoomInfo. The vertical search engine makes the case in a new infographic that agents and advisors can achieve greater success in their practices by adopting elements of three business models. These include: The social and socially engaging […]

    Millennials and their money: 6 trends for 2016

    {December 30th, 2015} by IFAWebnews staff

    At 75 million strong, millennials are the country’s largest living generation. This social-savvy and boundary-pushing group is wielding its influence on virtually every industry, including the financial one. Millennials are described as those born between the early 1980s to the early 2000s. Here’s a look at six of the most popular finance trends among millennials […]

    U.S. life-annuity insurers positioned to address shifting tides in 2016: EY

    {December 30th, 2015} by IFA Webnews Staff

    U.S. life-annuity insurers will enter 2016 in relatively good financial condition, though rapid advances in technology, rising customer expectations and increasing competition will require insurers to reinvent their strategies, services and processes, according to the 2016 EY U.S. life-annuity insurance outlook. “Global economic conditions, regulatory and monetary policies, and the political landscape will are still […]

    Financial Advisors’ Top 2016 New Year’s Resolutions

    {December 30th, 2015} by SEI Advisor Network

    Robo-Advisor Technology and Impending DOL Regulations Not a Primary Focus for 2016 OAKS, PA–(Marketwired – Dec 30, 2015) – Fostering growth will be top-of-mind for financial advisors in 2016, according to a recent report from SEI (NASDAQ: SEIC). The SEI survey gathered responses from 484 financial advisors, who ranked their top New Year’s resolutions within […]

    New industry video service offers no-cost commercial shoots for agents

    {December 30th, 2015} by Brokers International

    Independent agents seeking a video for their business can now schedule a professional shoot through Brokers International’s on-demand agent video service, Take One. Created in response to a rapidly expanding demand for video content on today’s digital marketing channels, the Take One program offers agents a simplified and no-cost solution for video production and distribution. […]


    {December 30th, 2015} by Jack Marrion

    Cause & Effect Annuitization or buying a life income immediate annuity provides the highest possible guaranteed life income and yet a very small percentage of retirees select an annuitization income solution. The primary goal in retirement planning is to provide adequate lifetime income – bequest needs and money for emergencies are typically secondary. Life income […]

    Goodbye 2015! HELLO 2016!

    {December 28th, 2015} by Wink RockStars

    We wish you a safe and happy new year!

    How the Fed’s Rate Hike Affects the Insurance Industry

    {December 28th, 2015} by John Weber: John.Weber@ambest.com

    OLDWICK, N.J. – A panel of economic, insurance and investment professionals examine the latest rate increase and how it will affect various sectors of insurance. View the video version of this interview at: http://www.ambest.com/v.asp?v=interestrate1215 Following is an edited transcript of the interview. Q: This past Wednesday the Federal Reserve announced it would be hiking the […]

    The 7 biggest insurance stories of 2015

    {December 28th, 2015} by LifeHealthPro Staff

    By anyone’s standards, 2015 was a year of disruption. Monumental legislation changed how we recognize marriage, how we plan our estates and how we pay taxes. Our standards of risk protection were challenged, as threats — cyber, terrorism, gun violence — became alarmingly frequent. And demographics continued to shift, changing the landscape of the workplace […]

    For life insurers, Fed’s rate hike is small step on a long road

    {December 28th, 2015} by Warren S. Hersch

    The Federal Reserve’s decision to boost short-term interest rates raises an intriguing question among industry-watchers: To what degree might the rate hike impact life insurers’ investments and product orientation in 2016? The short answer: not much. But if short- and long-term interest rates continue to rise gradually over a period of years, life insurers’ cash […]

    Nationwide Adds ‘Parents’ LTC Rider To Survivor UL

    {December 28th, 2015} by Linda Koco

    Nationwide has debuted a long-term care accelerated benefits rider for survivorship universal life insurance policies that company insiders informally dub the “parents rider.” The “parents” moniker derives from the fact that the rider is designed for use with a survivorship universal life policy that can cover two insureds who are far apart in age, such […]

    Robust Regulation, High Consumer Satisfaction Surround Sales of Fixed Annuities

    {December 28th, 2015} by NAFA

    NAFA Highlights Facts about Annuities, Contrary to Recent Report With only 22 percent of American workers very confident that they’ll have enough money to live comfortably throughout their retirement1, there is a clear need for trusted insurance advisors and products that can generate guaranteed lifetime income. A fixed annuity is the only product that allows […]

    These 13 countries have better retirement systems than America

    {December 23rd, 2015} by Emily Zulz

    The United States has continued its decline among countries’ retirement income systems ranked in the Melbourne Mercer Global Pension Index. Mercer released the results of its 2015 index, which encompasses 25 countries with pension systems at varying stages of maturity – some systems are well established while others, particularly in the Asia, are still developing. “The U.S. […]

    What Must Life Insurers do to Remain Relevant?

    {December 23rd, 2015} by Jon Cooper

    More than just getting consumers through the door, carriers must evolve the value of life insurance to offer immediate value to the policyholder that goes beyond a death benefit alone. According to LIMRA, the life insurance industry trade association, only 44 percent of households had life insurance in 2010. This represents a 50-year low. In contrast, […]

    Tracking social media usage among advisors, clients in 5 charts

    {December 23rd, 2015} by LifeHealthPro Editors

    While 30 percent of financial advisers do not see a connection between social media activity and new business, the majority see a direct or indirect link to growth, according to a new report. LinkedIn and the FPA Research and Practice Institute, a unit of theFinancial Planning Association, disclose this finding in “Communication Evolution: Financial Professionals […]

    Complex life insurance policy illustrations underscore the need for trusted advisors to counsel seniors: Opinion

    {December 23rd, 2015} by DARWIN BAYSTON, CFA

    Earlier this year, the National Association of Insurance Commissioners (NAIC) adopted uniform standards for Indexed Universal Life (IUL) policy illustrations. The intention was to provide “more realistic” guidelines for the illustrations that can be used to market IUL policies to prospective customers. The new actuarial guideline establishes a uniform methodology that must be followed in determining […]

    Straight talk about selling insurance

    {December 23rd, 2015} by KENNETH L. FIELDS,CIC,CPCU

    Mark Twain once said, “The difference between similar words and the right words is the difference between lightning and the lightning bug.” In sales, your choice of words can make the difference between getting the sale — or at least, getting closer to the sale — and having no opportunity at all. For example, have […]

    Merry Christmas from our house to yours!

    {December 22nd, 2015} by Sheryl J. Moore and the Wink Rockstars

      Wink’s Note: The Wink office will be closed December 24th & 25th as we celebrate the holiday with our families.     

    Santa Index 2015: Santa’s salary bumps to $143,054

    {December 22nd, 2015} by Jennifer Shelton

    Santa Claus is the hardest-working holiday spirit in the world. He’s a manufacturing executive, professional shopper, sleigh driver, delivery person, list checker, and heads a customer service department for nearly 2 billion children.  Each year at Insure.com, we use a pre-set list of tasks and match them to occupations from the Bureau of Labor Statistics […]

    Who’s not selling FIAs — and why not

    {December 22nd, 2015} by JAMIE E. GREEN, WARREN S. HERSCH, EMILY HOLBROOK

    Despite fixed indexed annuity sales growth over the past two decades and the product’s popularity among consumers, some advisors are still shunning the product. In fact, though they are actively selling other types of annuities, 30 percent of respondents have not sold an FIA in the past year. Non-sellers are more likely to be selling at lower […]

    8 habits of top FIA sellers

    {December 22nd, 2015} by JAMIE E. GREEN, WARREN S. HERSCH, EMILY HOLBROOK

    One of the things that became readily apparent in our recent survey findings is that there is a subset of respondents who are exceptionally successful at selling FIAs. On average, these advisors have generated more than five times the annuity premium in the past year than the general population of respondents: $3,296,000 vs. $600,000. (Note: […]

    How to successfully sell FIAs

    {December 22nd, 2015} by JAMIE E. GREEN, WARREN S. HERSCH, EMILY HOLBROOK

    Low interest rate caps present the biggest challenge to advisors selling FIAs. In fact, for advisors with $1 million or more in annuity premiums, 46 percent say the caps are their biggest hindrance to selling more, while 39 percent of advisors with $250 to $1 million in annuity premiums cite them as the biggest challenge. Thirty […]

    DOL fiduciary rule to turn plan advisors into fiduciaries ‘overnight’

    {December 22nd, 2015} by Nick Thornton

    The Department of Labor’s proposed fiduciary rule will make thousands of non-registered defined contribution plan advisors fiduciaries “over night,” say analysts at Cerulli Associates. But if the finalized version of the complex rule resembles its proposed form, it is not expected to stem the tide of 401(k) rollovers to IRAs in the coming years, claim the analysts. […]

    10 reasons to love IUL

    {December 22nd, 2015} by Tom Martin

    As an avid woodworker, I have a tool collection that would be the envy of Bob Villa. My workshop contains some very highly specialized tools accurate to 1/100th of an inch. This kind of precision is necessary for things like cutting dovetail joints, but not everything I do requires that kind of rigor. Some of […]

    Phoenix Shareholders Give OK to $217.2 Million Acquisition by Nassau Re

    {December 22nd, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    HARTFORD, Conn. – Shareholders of life and annuity writer Phoenix Companies Inc. gave their approval to a $217.2 million acquisition bid by New York-based Nassau Reinsurance Group Holdings LP. The green light means the deal is on track for an early 2016 closing, according to a company statement. About 58%, or 3.35 million of outstanding […]

    A.M. Best Briefing: Rating Outlook Remains Stable For U.S. Life/Annuity Industry But Challenges Persist

    {December 22nd, 2015} by Best's News Service

    Oldwick – A.M. Best is maintaining its stable outlook on the U.S. life/annuity industry for 2016, supported by the benign credit and interest rate environments and in the face of various challenges, in particular, the overall economic climate and its potential impact on interest rates, and, to a lesser extent, credit risk. The Best’s Briefing, […]

    Millennials prefer life insurance to retirement benefit

    {December 22nd, 2015} by Marlene Y. Satter

    Millennials are a bird-in-hand kind of generation, according to a new analysis by the Employee Benefit Research Institute (EBRI), and would rather have the money—or life insurance—than a retirement benefit. New findings from the 2015 EBRI/Greenwald & Associates Health and Voluntary Workplace Benefits Survey (WBS) show that millennials don’t know as much about their workplace […]

    Insurers Hope Fed Move A Sign of Things to Come

    {December 22nd, 2015} by AM Best

    Most see a multi-year rate increase strategy OLDWICK, N.J., December 22, 2015—The Federal Reserve’s first interest rate increase in nearly a decade does not symbolize a “lift off” scenario for interest rates, according to a new A.M. Best special report. The Best’s Briefing, titled, “Insurers Hope Fed Move a Sign of Things to Come,” states that likely subsequent moves by […]

    FIAs: Think Before You Run Away!

    {December 22nd, 2015} by Michael Mastowski

    I heard our state’s consumer advocate touting his expertise on our local conservative talk radio station recently. His 60-second cautionary advice was in regard to an insurance product. He said that if this product were presented to one of his listeners, they should “run the other way.” That’s pretty aggressive advice for a product that […]

    Retooling The Insurance Industry For A Millennial World

    {December 22nd, 2015} by Meg Murphy

    The insurance industry is on the brink of a talent crisis. The average age of insurance agents in the U.S. is 59 years old. Many will retire in the next decade, and recruiting younger talent is becoming increasingly difficult. Click HERE to view article        Wink’s Note: InsuranceNewsNet articles may require a subscription to […]

    Insurance Firms Most At Risk From DOL Fiduciary Rule

    {December 22nd, 2015} by Registered Rep

    Insurance broker/dealers have the most to lose from the Department of Labor’s fiduciary rule because of their dependence on commissions, proprietary products and individual retirement accounts, according to a new report by Cerulli Associates. “These advisors are most dependent on middle market clients and therefore most dependent on IRAs as the source of business,” said […]

    National life insurance companies reach settlement

    {December 22nd, 2015} by Associated Press

      CONCORD, N.H. (AP) – An examination led in part by New Hampshire’s insurance commissioner has led to a pair of settlements with two national life insurance companies. Commissioner Roger Sevigny and his peers in five other states led the examination into Jackson National and AXA. Under the settlement, the companies have agreed to compare […]

    Prudential Names New COO for Group Insurance Division

    {December 22nd, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    NEWARK, N.J. – Prudential Group Insurance has named a new chief operations officer for its group insurance division. The company said David Zona, previously the division’s chief underwriting officer, has taken the COO position. In his new post, Zona is responsible for all underwriting, claims and service delivery functions across the division and for developing […]

    These 5 DOL and Treasury initiatives could lead to more annuities within 401(k) plans

    {December 22nd, 2015} by Marlene Y. Satter

    As beleaguered workers with little in the way of retirement savings increasingly look for a means of guaranteeing income during retirement, a retirement industry-sponsored white paper has made a pitch for including annuity products in 401(k) plans. The paper, “Retirement Income Solutions: A Guide for Plan Sponsors,” put out by the Defined Contribution Institutional Investment […]

    In Latin America, Families and Friends Prompt Many Life Insurance Purchases

    {December 22nd, 2015} by LIMRA

    Where buyers north of the border are more driven by life-events Why do people shop for life insurance? In the United States, we know that seminal life events like getting married, having children and buying a home are some of the top reasons. But what about actually buying it? Is it an ad, a recommendation […]

    5 Internet marketing mistakes insurance agents make

    {December 22nd, 2015} by Brad Shoor

    Insurance agents face immense challenges in Internet marketing. First, many compete against national and global companies with sophisticated strategies and the deepest-of-deep pockets. Second, those working for one of these companies are hamstrung by the corporate website and marketing structures. Click HERE to read     

    Apollo-backed Athene sees 2016 accounting fix after IPO delayed

    {December 21st, 2015} by KATHERINE CHIGLINSKY

    (Bloomberg) — Athene Holding Ltd., the insurer with ties to Apollo Global Management LLC, said it expects to remediate a flaw in its accounting by early next year as management plans for an initial public offering. “A tremendous amount of work has been completed on the actuarial material weakness, and testing is under way” to address […]

    A.M. Best Affirms Ratings of Mutual of Omaha Insurance Company and Its Subsidiaries

    {December 21st, 2015} by Best's News Service

    Oldwick – A.M. Best has affirmed the financial strength rating of A+ (Superior) and the issuer credit ratings of “aa-” of Mutual of Omaha Insurance Company and its subsidiaries, United of Omaha Life Insurance Company,Companion Life Insurance Company (New York, NY) and United World Life Insurance Company. Concurrently, A.M. Best has affirmed the issue ratings of […]

    Which Star Wars character is the most insurable?

    {December 21st, 2015} by Joe Kenny

    Star Wars: The Force Awakens just hit theatres and left us wondering: Are some of the main characters of the Star Wars Universe good prospects for life insurance? Barring droids, which would fall under the property and casualty insurance spectrum, and other species, such as Wookies and Yawas, we examined a few of the most popular […]

    What’s next for the life insurance industry? OPINION

    {December 21st, 2015} by MARIA FERRANTE-SCHEPIS

    If you are thinking that “what’s next” for the life insurance industry has something to do with the experience around buying and owning life insurance products, think again. Yes, the life insurance industry has a big opportunity to improve the current state of the customer experience. Companies are improving the complex and inauthentic language used […]

    Life Insurance Outlook: New Approaches for Changing Realities

    {December 21st, 2015} by Rod Rishel

    As we reflect on 2015 and look toward 2016, sea change in America is resulting in a wave of effects on the life insurance industry. From shifts in demographics to Americans’ health status and their sources of retirement income, the new realities are reflected in ways that carriers and their products are transforming to offer […]

    Survey Says: Clients Expect Financial Advisors to Be On Social Media

    {December 19th, 2015} by Phil Gerbyshak

    A recent study conducted by the Financial Planning Association (FPA), in conjunction with LinkedIn, found that while fewer than 5 percent of financial services clients used professional or social networks to find their current adviser, 21 percent say professional and social networks will be important going forward. As you might expect, that number doubles for […]

    Lloyd’s Chairman: Index Project to Tap Insurance as Asset Class

    {December 18th, 2015} by David Pilla, news editor, BestWeek: David.Pilla@ambest.com

    LONDON – Citing the ability of Lloyd’s to bring “the most objective and robust database in the world for this kind of operation,” the market’s chairman said a just-revealed plan to launch an “alternative asset” index for insurance is an ideal way to deploy the information Lloyd’s has accumulated. “We had been thinking about this […]

    6 industry execs on what to expect in 2016

    {December 18th, 2015} by Nick Thornton

    Retirement plan providers consider what trends and strategies we’ll see in the new year We look ahead to 2016 by asking six retirement industry executives what they see coming in the defined contribution plan space. “Recordkeeping costs for sponsors and participants are half what they were 10 years ago,” says Brooks Herman, head of data […]

    Fitch: Life Insurance Outlook Depends On Long-Term Rates

    {December 18th, 2015} by Business Wire

    CHICAGO–(BUSINESS WIRE)–US life insurers’ potential gain from further Fed rate hikes over the coming year could be muted if long-term rates remain largely unaffected, says Fitch Ratings. While yesterday’s Federal Funds target rate increase was expected, how further rate hikes effect credit fundamentals and the longer end of the yield curve is still to be […]

    Phoenix finalizes merger with private equity-backed reinsurer

    {December 18th, 2015} by Warren S. Hersch

    Hoping to put a stop to its financial hemorrhaging, The Phoenix Companies has inked a deal to merge with a unit of a private equity-backed reinsurer. At a meeting on Friday, Phoenix stockholders approved an agreement, dated September 28, to merge with Davero Merger Sub Corp., a wholly owned subsidiary of Nassau Reinsurance Group Holdings, […]

    Rate Increase Bodes Well For Fixed Annuity Sales

    {December 18th, 2015} by Linda Koco

    The fixed annuity industry could harvest some happiness in the months ahead. That’s because new sales of fixed annuity products will likely increase in the wake of the 0.25 percent jump in a key interest rate the Federal Reserve announced Wednesday. The growth actually will be a continuation of the strong sales seen in third […]

    Axa, Jackson National Reach Combined $5.78 Million Death Master File Settlements With State Commissioners

    {December 18th, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    SACRAMENTO, Calif. – Two more life insurers have agreed to settle complaints brought by a consortium of state insurance commissioners over business practices related to the Social Security Administration’s Death Master File. Companies operated by Paris-based Axa S.A. and Jackson National Life Insurance Co., operated by London-based Prudential plc, will make payments of $3.28 million […]

    Kansas City Life Shareholders Approve Leaving NASDAQ, Going Private

    {December 18th, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    KANSAS CITY, Mo. – Kansas City Life Insurance Co. shareholders approved a reverse/forward stock split transaction on Dec. 15 that is meant to delist the company’s stock from the NASDAQ exchange, slash the number of shares held by the public and take the company private. In documents filed with the U.S. Securities and Exchange Commission, […]

    Finance/insurance industry fall short in wish list for U.S. spending bill

    {December 18th, 2015} by Cheyenne Hopkins

    (Bloomberg) — Financial industry lobbyists were stymied in their efforts to slip measures helping banks, insurers and private-equity firms into the $1.1 trillion bill funding the U.S. government. The failures are a stark contrast to 2014, when Wall Street successfully got a provision in the year-end spending legislation that watered down a requirement that banks […]

    DOL fiduciary rule survives omnibus bill

    {December 18th, 2015} by Nick Thornton

    On Tuesday night, the Department of Labor’s proposed fiduciary rule survived what many viewed as a significant threat when the U.S. House of Representatives released next year’s omnibus spending bill. No defund rider, no alternative legislation, no required new comment period Missing from the more than 1,000-page bill document was a rider that would defund Labor’s […]

    The ultimate year-end checklist for advisors

    {December 18th, 2015} by Michael Dressander

    The end of the year is fast approaching, but there’s still time to close out the year with a bang! The fourth quarter is historically one of the most productive for financial advisors and agents, in spite of the mid-December slow down. So for those of you more focused on the bang than the whimper, […]

    Genworth Promotes Mortgage Head Schneider to Operating Chief

    {December 18th, 2015} by Katherine Chiglinsky

    Genworth Financial Inc., the insurer battered by losses on long-term care policies, promoted Kevin Schneider to chief operating officer as the company seeks to reverse a stock slide that led to its removal from the Standard & Poor’s 500 Index. Schneider, 53, the executive vice president of global mortgage insurance, will report to Chief Executive […]

    Include Laddered Annuities In RMD Tax Rules, Researcher Recommends

    {December 17th, 2015} by Linda Koco

    A researcher at George Mason University has come up with what he believes is an effective strategy to guarantee lifetime retirement income. The approach entails combining laddered immediate annuities with systematic withdrawals from retirement accounts, plus a tax rule change that provides an incentive to purchase the annuities. If the proposal gets legs, it could […]

    Banks Look To Loyal Customers, Gen Y For Growth

    {December 17th, 2015} by INN Admin

    WINDSOR, Conn., Dec. 17, 2015—As banks look to expand their business beyond traditional retail banking, longtime loyal customers and Millennials represent key opportunities for growth, according to a new study from LIMRA. With so many loyal customers, banks and credit unions would seem to be in an enviable position to grow as more than half […]

    Past NAIC President Hamm Will Not Run for Third Term as North Dakota Commissioner

    {December 17th, 2015} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com

    BISMARCK, N.D. – North Dakota Insurance Commissioner Adam Hamm, a past president of the National Association of Insurance Commissioners, will not run for a third full term in 2016. “After careful consideration, I have decided not to run for a third term as North Dakota insurance commissioner,” he said in a statement released by the […]

    Genworth Promotes Global Mortgage Head to New Chief Operating Officer Post

    {December 17th, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com

    RICHMOND, Va. – Genworth Financial has named one of its senior executives to the newly created post of chief operating officer. Kevin D. Schneider, most recently executive vice president of global mortgage insurance, will assume the daily operations and performance of the company, including business improvement, growth and resourcing, Genworth said in a statement. He […]

    Insurers, Industry Watchers Welcome Fed Rate Hike, but See Long Road Ahead

    {December 17th, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com, and Frank Klimko, Washington, D.C. correspondent, BestWeek: frank.klimko@ambest.com

    WASHINGTON – Life insurers welcomed the news that the Federal Reserve had hiked interest rates on investments by 0.25%, after nearly a decade of leaving the benchmark effectively at zero. Robert Tipp, managing director and chief investment strategist at Prudential’s fixed income division, said the company sees the move as “a first step for the […]

    Life Insurance at a Crossroads

    {December 17th, 2015} by Swiss Re

    New technologies will change the way insurers operate and engage consumers The life insurance industry is at a crossroads: new technologies pave the way for a revolution in the way insurers write business, handle data and engage consumers. Swiss Re’s latest sigma study Life insurance in the digital age: fundamental transformation ahead looks at how […]

    Rising Interest Rates, Part 1, 2 and 3

    {December 17th, 2015} by Brad McMillan

    Rising Interest Rates, Part 1: Return To The Natural Level? DECEMBER 15, 2015 • BRAD MCMILLAN This post originally appeared last spring. With a Federal Reserve rate increase largely expected to happen this week, I want to take a look at what happens when rates start to rise. Although economic growth appears to be slowing, […]

    Indexed Annuity Providers’ Latest Twist: Uncapped Index Crediting

    {December 16th, 2015} by ThinkAdvisor

    Indexed annuities have become an established member of most financial advisors’ repertoire in recent years, gaining in popularity as clients seek out low-risk ways to participate in rebounding equity markets. Despite this, several years of relatively stable market performance has reduced the appeal of these products, which typically cap the client’s ability to realize the […]

    Fine levied against Md. insurance, financial firm known as ‘The Money Guys’

    {December 16th, 2015} by Taylor Seth McCandless, John George Anthony and Michael DiPaula

    The Maryland Insurance Administration has issued a $62,400 fine against Everest Wealth Management Inc. and Philip A. Rousseaux, Jr., the insurance agent who holds the producer license for the firm. The MIA action followed the state agency’s investigation and previous action by Maryland Attorney General Brian E. Frosh against the Towson, Md.-based financial services firm, […]

    Why advisors expect higher FIA sales next year

    {December 16th, 2015} by JAMIE E. GREEN, WARREN S. HERSCH, EMILY HOLBROOK

    The health of the FIA market is perhaps best judged by those who sell more product. On this score, the trend is clear: The higher the overall annuity production (all product types) among respondents polled in the survey, the more likely that advisors were to say that FIA sales increased “somewhat” or “substantially” over the […]

    Man Who Was Accused —Then Cleared — in Insurance Fraud Enters North Carolina Insurance Commissioner Race

    {December 16th, 2015} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com

    RALEIGH, N.C. – North Carolina Insurance Commissioner Wayne Goodwin will face one of two Republican challengers in next year’s general election as he seeks a third term, one of them a construction contractor who last year faced 108 insurance fraud charges that were later dropped. Republicans competing to be Goodwin’s challenger are Ronald Pierce, who […]

    Did You Open The Door For Your Competition?

    {December 16th, 2015} by Meridith Elliott Powell

    Our existing clients are our most important assets. So let me ask you – when was the last time you made a call on this asset? No, I don’t mean saw them, said hello or invited your existing client to an event. Click HERE to view article               Wink’s […]

    Imeriti Financial Network to Double IUL Boot Camps in 2016

    {December 16th, 2015} by Imeriti Financial Network

    Imeriti Financial Network (IFN) plans to double their IUL Boot Camps in 2016. These live, two-day training sessions are hosted around the country and are completely free for producers to attend – all expenses paid. IFN’s own insurance sales experts walk participants through detailed sales and marketing strategies, while providing advice and training on structuring […]

    Opportunity abounds for women who seize it

    {December 16th, 2015} by Gloria Gonzalez

    NEW YORK — Women need to lead and continue to develop in three different spheres — professional, personal and political — to ascend to the next level of power. From a professional standpoint, the supposed ambition gap between men and women does not exist, Lauren Leader-Chivée, founder of All-in-Together Campaign Inc. and former president of […]

    403(b) Market Snapshot: Boutique and Specialist Advisors Dominate

    {December 16th, 2015} by Cyril Tuohy

    Boutique defined contribution consultants and 403(b)-focused advisors are the “primary centers of influence” in winning new business in the trillion-dollar 403(b) market, according to a new report by Cerulli Associates. The 403(b) market is only available to 501(c) (3) or nonprofit organizations. Organizations in that market include higher education institutions, health care, the K-12 school […]

    Prudential Offers Life Insurance to HIV Patients

    {December 16th, 2015} by John Hilton

    When Prudential saw that people living with HIV were living longer, healthier lives, the company knew it had an untapped market for life insurance underwriting. So Prudential decided to offer people living with HIV 10- and 15-year individual convertible term life insurance products, the company announced this week. In doing so, Prudential became the first […]

    How to choose among the 5 major annuity types

    {December 16th, 2015} by Andrew Murdoch, CFP

    As I wrote in my last article — the initial entry in this series of annuity primers — annuities are relatively complicated, and that partly explains why buyers know surprisingly little about what they own. The bigger reason, though, is that many sellers of annuities focus on consummating a sale, not on spending the time […]

    New online resource helps agents find their marketing direction

    {December 16th, 2015} by Brokers International

    A new online resource provides the marketing materials independent financial professionals need to stay in touch with clients, connect with prospects and promote their business. Each professionally created and compliance-reviewed marketing piece is available through Brokers International’s virtual storefront, The Compass. Much like shopping online, an agent can view the variety of materials available, customize […]

    Eileen McDonnell Receives 2015 Huebner Gold Medal

    {December 16th, 2015} by The Penn Mutual Life Insurance Company

    Penn Mutual CEO Receives Recognition for Leadership and Accomplishments Horsham, Pa. – December 14, 2015 – Eileen McDonnell, Chairman, President and Chief Executive Officer of The Penn Mutual Life Insurance Company (Penn Mutual), recently made history along Philadelphia’s Independence Mall. Last month, The American College of Financial Services held its annual black-tie President’s Dinner at […]

    Barclays to Sell Risk Analytics and Index Unit to Bloomberg

    {December 16th, 2015} by TAPAN PANCHAL

    Sale represents latest move by British bank to focus on core operations LONDON— Barclays PLC on Wednesday said it has agreed to sell its risk analytics and index solutions business to Bloomberg LP for £520 million ($782 million), in the British bank’s latest move to focus on its core operations. The lender said the sale […]

    California District Court Certifies Classes of Fixed Index Annuities Purchasers

    {December 16th, 2015} by Christine Stoddard and Carlton Fields Jorden Burt

    The Southern District of California recently certified California and multistate classes of annuities purchasers in a case challenging the allegedly abusive design, execution, and pricing of fixed index annuities (FIA). The plaintiff, a senior who purchased an FIA issued by defendant insurer, claimed the defendant promised asset protection and guaranteed values that were vitiated by […]

    Survey: Product innovation surging across lifetime income market

    {December 16th, 2015} by LIFEHEALTHPRO EDITORS

    WASHINGTON, D.C. – The Insured Retirement Institute (IRI) today released a new report detailing how ongoing product innovation will help support continued demand for lifetime income in the years ahead. In its annual State of the Insured Retirement Industry report, IRI notes that ongoing product development is creating a wide array of consumer choice regarding lifetime […]

    Former New Jersey Investment Adviser Pleads Guilty in $1.17 Million Fraud Scheme

    {December 16th, 2015} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com

    TRENTON, N.J. – A former Morris County, New Jersey, investment adviser has pleaded guilty to organizing a $1.17 million securities and annuities fraud scheme, according to the New Jersey Office of the Insurance Fraud Investigator. Maine resident Janet Fooshee, 63, entered a guilty plea to fabricating and mailing more than 100 financial account statements that […]

    Don’t blow the budget on food; try giving instead

    {December 15th, 2015} by Business Record Staff

    While holiday spending continues to be anxiety-inducing for some, many American workers are trying to beat the holiday blues by giving back and planning ahead.   Nearly two-thirds say holiday spending puts some level of stress on their personal financial situation, according to The Principal Financial Well-Being Index: American Workers.   Men fare better than women, […]

    5 most hated workplace holiday practices

    {December 15th, 2015} by Dan Cook

    Despite the seasonal good cheer one encounters at the workplace, lurking beneath the surface, there are holiday haters. And guess what their top five most hated workplace practices are? You don’t need to guess — with the help of Dr. Paul White, we’ll tell you. White is a psychologist who specializes in sorting out sourced workplace […]

    Annuity innovation continues as industry braces for DOL fiduciary rule

    {December 15th, 2015} by Nick Thornton

    Insurance provides continue to roll-out new annuity products to meet demand for lifetime income products, even as the Department of Labor finalizes a fiduciary rule that could severely impede how industry markets those products. The Insured Retirement Institute’s annual state of the industry report suggests demand for lifetime income products is strong, and likely to […]

    Top financial concerns of the self-employed

    {December 15th, 2015} by Warren S. Hersch

    The business and political climates are impeding self-employed Americans’ ability to save for retirement. As a result, many plan to continue to work into retirement years or rely on Social Security. So reports TD Ameritrade in a new report, “Self-Employed Survey: Understanding the Financial Challenges Unique to Self-employed Americans.” Conducted by Head Solutions Group on […]

    Transamerica restructuring to include layoffs

    {December 15th, 2015} by Lyle Adriano

    Iowa-based Insurance and investment company Transamerica is set to restructure its two major business divisions in 2016 as part of a company-wide reorganization; the move is likely to result in layoffs, a spokesperson said. Head of corporate communications for Transamerica, Greg Tucker, said that all employees have been informed of the coming changes. “There will […]

    Fitch: Stable Outlook for U.S. Life Insurers in 2016

    {December 15th, 2015} by Business Wire

    CHICAGO–(BUSINESS WIRE)–The Rating Outlook for the U.S. life insurance industry is Stable for 2016, according to Fitch Ratings. In addition, the fundamental sector outlook is stable. Fitch’s outlook considers the industry’s very strong balance sheet fundamentals, strong liability profile, and stable operating performance. These positive factors somewhat mitigate Fitch’s ongoing concerns over persistent low interest […]

    Concern Mounts On Whether New Rules Will Apply To Indexed Annuities

    {December 15th, 2015} by Ben Mattlin

    In November, rumors were spreading that proposed new rules from the U.S. Department of Labor to ensure fairness among dealers of retirement products might extend beyond variable annuities (VAs) to their fixed-indexed counterparts. “There’s been a lot of concern recently,” says Rhett Owens, a commercial litigation attorney at Burr & Forman, in Birmingham, Ala. “People […]

    Why Wall Street actually wants a rate hike

    {December 15th, 2015} by Matt Egan

    Raising interest rates is often equated to removing the punch bowl from the stock market while the party is still going. It raises the cost of doing business — and that’s usually not a good thing for the economy or stocks. So the markets should tumble this Wednesday if the U.S. Federal Reserve raises rates. Right? […]


    {December 15th, 2015} by Sheryl J. Moore

    Traditional Fixed Annuity   Sales for the third quarter of 2015 were $3,094 million. Third quarter fixed annuity sales were down over 17.00% when compared to the previous quarter. Total 3Q2015 traditional fixed annuity sales were $3,094,235,363  THE TOP TEN FIXED ANNUITY CARRIERS FOR THE THIRD QUARTER OF 2015: 1. AIG 2. Jackson National Life 3. MassMutual Life  […]

    For Life and Annuity Insurance CFOs: Using Analytics to Generate Value

    {December 15th, 2015} by Deloitte

    For life and annuity insurance CFOs, leveraging data analytics can help address an array of business challenges such as empowered consumers, talent gaps and operational disruptions in what some consider a difficult environment for their sector. And in the process, they could gain data-driven insights for the business and potentially catapult the finance organization from […]

    Books for Advisors: Holiday Gifts & Great Reads for 2016

    {December 14th, 2015} by Industry news

    You’ve been busy wrapping up your year-end business when you realize that you haven’t found the perfect gift for your colleagues and clients, and the holidays are fast approaching. Not to worry — we’ve gathered a list of books recommended by advisors that are great reads and will be welcome gifts, especially for those looking […]

    Anne Machesky Featured in New Women in Insurance & Financial Services (WIFS) Book

    {December 12th, 2015} by PR Web

    PR Web | Friday, 11 December 2015 04:15 (EST) Edina, Minn. (PRWEB) December 11, 2015Anne Machesky, registered representative of Lincoln Financial Advisors, was featured in Women in Insurance & Financial Services’ (WIFS) debut publication, Financial Services: Women at the Top – A WIFS Research Study, released on July 31, 2015. WIFS is an organization devoted to […]

    Pru Domestic Business Head: Company Will Be Resilient to Any Final Labor Fiduciary Rule

    {December 12th, 2015} by Thomas Harman, Washington Bureau manager, BestWeek: Tom.Harman@ambest.com

    NEWARK, N.J. – Prudential Financial Inc. expects to be “highly resilient” in the face of whatever results from a proposed Labor Department regulation that would include insurance brokers as part of Employee Retirement Income Security Act conflict-of-interest requirements. The House has passed legislation blocking the rule’s implementation until the U.S. Securities and Exchange Commission approves […]

    Insurance Executive Sentenced to 37 Years for $100 Million Scam

    {December 12th, 2015} by Frank Klimko, Washington correspondent, BestWeek: frank.klimko@ambest.com

    BALTIMORE – A federal judge sentenced a former Maryland insurance company president to 37 years in prison for orchestrating a $100 million insurance scam that used a web of false financial documents to fool state regulators while he enjoyed a champagne lifestyle. U.S. District Judge William D. Quarles Jr. sentenced Jeffrey Brian Cohen, of Reisterstown, […]

    Four of AIG’s Highest-Ranking Executives to Depart

    {December 11th, 2015} by Leslie Scism

    Shake-up announced as insurer faces pressure to improve profitability American International Group Inc. said four of its 15 most-senior executives are departing, continuing an effort by Chief Executive Peter Hancock to realign duties and cut costs as the insurer faces pressure from big investors to improve profitability. The departures will shrink an advisory committee of […]

    Prudential ‘certainly open’ to deals as rivals retreat, CEO says

    {December 11th, 2015} by KATHERINE CHIGLINSKY

    (Bloomberg) — Prudential Financial Inc., which expanded in recent years by acquiring units from rivals that were narrowing their focus, would be open to additional deals to add blocks of life insurance coverage or pension assets, Chief Executive Officer John Strangfeld said. “We’re certainly open to those sorts of things,” Strangfeld said Thursday at an annual […]

    DOL Likely To Spare FIAs, Analysts Say

    {December 11th, 2015} by John Hilton

    The Department of Labor’s final fiduciary rule is not likely to regulate fixed index annuities in the same way as variable annuities, a pair of industry experts said. Although they emphasized that they have no inside information, Fred Reish and Bradley Campbell made the prediction during an informational webinar today. “It just seems to me […]

    DOL Retirement Proposal Draws Zero Comments

    {December 11th, 2015} by Linda Koco

    The Department of Labor has proposed a rule that is of interest to the retirement industry but, so far, no public comments appear in the comment section of the government website. Issued by DOL’s Employee Benefits Security Administration (ESBA), the rule outlines a safe harbor that would allow states to run their own retirement savings […]

    Outside In

    {December 10th, 2015} by Emily Viner

    Not too long ago I was overjoyed to wait in line. While not usually a happy occurrence, in this instance I was waiting in line for the ladies’ restroom at a sales meeting and the line meant that there were a significant number of women attending. Being a financial representative is an amazing career, so […]

    AIG CFO Herzog Exits as Hancock Shakes Up Management

    {December 10th, 2015} by Sonali Basak

    Risk chief Sankaran to become CFO after AIG files 10-K Asia-Pacific CEO Hernandez also to depart AIG, Hancock says American International Group Inc., the insurer being pressured by activist investor Carl Icahn to boost returns, said Chief Financial Officer David Herzog is among top managers leaving the company as Chief Executive Officer Peter Hancock shakes […]

    For young financial advisors, support contributes to long-term success: LIMRA

    {December 10th, 2015} by IFAWebnews Staff

    REPORT: The following article was reprinted in whole or part from a LIMRA-supplied statement. The support young advisors receive from their firms at the beginning of their careers in financial services sales – including investing in new technologies – greatly contributes to their long-term success, according to a recent LIMRA study. Today’s advisors face many of […]

    Straight talk about selling insurance

    {December 10th, 2015} by KENNETH L. FIELDS,CIC,CPCU

    Mark Twain once said, “The difference between similar words and the right words is the difference between lightning and the lightning bug.” In sales, your choice of words can make the difference between getting the sale — or at least, getting closer to the sale — and having no opportunity at all. For example, have you […]

    Here are 4 ways you lose potential insurance customers

    {December 10th, 2015} by David Squibb

    Studies show there is a significant correlation between time to close and whether you have secured new business. This isn’t surprising, considering the importance of a fast and seamless customer communication experience, especially for the new generation of consumer who expects everything to be quick, effortless and intuitive. In order to work toward creating an ideal […]

    Here are the innovation and practice issues fee-based advisors care about most [infographic]

    {December 9th, 2015} by Lynette Gil

    A survey commissioned by Jefferson National and conducted by Harris Poll earlier this year unveils the key issues that concern advisors regarding their practices, how to attract and retain new clients, what’s happening in the merger and acquisition arena and the perceived impact of M&As, and the future of the industry. The inaugural edition of […]

    Allianz Life Promotes Bill Gaumond to Chief Financial Officer

    {December 9th, 2015} by Allianz

    MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) has promoted Bill Gaumond to chief financial officer, effective Jan. 1, 2016. In his new role, Gaumond will be responsible for all financial functions of Allianz Life, including business finance, accounting and controlling, business intelligence, treasury, tax, and corporate risk management. Gaumond will report directly […]

    Life Insurance Companies Frustrated Over Low Interest Rates

    {December 9th, 2015} by Business

    While the Federal Reserve has said that interest rates should end up going up this year, each month that the agency has held policy meetings the decision has been not to change the interest rates. This has been an ongoing discussion since around March, when it was first thought that interest rates would be going […]

    Indexed Products Explode In Popularity, But Few Advisors Understand Them

    {December 9th, 2015} by Cyril Tuohy

    Indexed products, one of the hottest-selling categories in the life and annuity space, are on the minds of nearly every financial advisor working in the U.S. today. But how many advisors understand how they really work? Floors … caps … participation rates … bonuses … spreads … point to point. Click HERE to view article  […]

    Individual Life Premium Improves 8 % in Q3

    {December 9th, 2015} by LIMRA

    Five consecutive quarters of positive growth WINDSOR, Conn., Dec. 9, 2015—U.S. individual life insurance new annualized premium increased 8 percent in the third quarter 2015 – the fifth consecutive quarter of positive growth, according to LIMRA’s Third Quarter 2015 U.S. Retail Individual Life Insurance Sales Survey. “In the first nine months of 2015, strong whole […]

    FIAs Heat Up With Volatility Control Options

    {December 8th, 2015} by Linda Koco

    Genworth is the newest carrier to enter the increasingly crowded market for volatility controlled indices inside of fixed index annuities (FIAs). As reported last week, Genworth has debuted an “uncapped volatility control spread index crediting strategy.” It is based on the Barclays U.S. Low Volatility II Equity ER Risk Controlled Index (Barclays U.S. Low Volatility […]

    Inside the DOL’s War on Annuities

    {December 8th, 2015} by John Hilton

    Business for annuity agents will change under the Department of Labor’s fiduciary rule — but will it be a significant shift or a disastrous disruption? That’s the question many are asking as the DOL prepares the final version of its rule. More than five years after the regulation was first proposed and then re-proposed, it […]

    A.M. Best Affirms Ratings of Lincoln National Corporation and its Key Subsidiaries

    {December 8th, 2015} by Best's News Service

    CONTACTS: Keith Behrmann Financial Analyst (908) 439-2200, ext. 5733 keith.behrmann@ambest.comRosemarie Mirabella Assistant Vice President (908) 439-2200, ext. 5892 rosemarie.mirabella@ambest.com Christopher Sharkey Manager, Public Relations (908) 439-2200, ext. 5159 christopher.sharkey@ambest.comJim Peavy Assistant Vice President, Public Relations (908) 439-2200, ext. 5644 james.peavy@ambest.com FOR IMMEDIATE RELEASE OLDWICK – DECEMBER 08, 2015 A.M. Best has affirmed the financial strength […]

    Millennials Just Don’t Want To Be Insurance Agents

    {December 8th, 2015} by Larissa Faw

    The insurance industry has a coolness problem. Today’s Millennials express absolutely no interest in working as adjusters and appraisers, according to new research from the Hartford Group, which incidentally is an insurance company with a vested interest in making itself attractive to the future workforce. Although money does matter, the top reason Millennials are turning […]

    Texas insurance agent to pay $700,000 for his part in $4.6 million investment ‘scheme’

    {December 8th, 2015} by IFAWebnews Staff

    A Texas insurance agent has agreed to pay more than $700,000 in civil penalties from illegally obtained profits in connection with a multimillion-dollar scheme in which he reportedly defrauded elderly investors. According to the U.S. Securities and Exchange Commission, Bobby M. Collins, 56, an insurance agent who lives in Witchita Falls, Texas, and operates Collins […]

    NAIC Elects New Officers

    {December 8th, 2015} by Cyril Tuohy

    The newly elected leadership of the National Association of Insurance Commissioners includes a commissioner who has served as a regulator in two different states. Missouri Insurance Director John M. Huff was elected NAIC president and Kentucky Insurance Commissioner Sharon P. Clark was chosen president-elect. Huff, a native of Potosi, Mo., was appointed as director of […]

    NAFA Appoints New Director of Membership and Development

    {December 8th, 2015} by NAFA Staff

    NAFA, the National Association for Fixed Annuities, announced today that Joe Grecu will join the team to help enhance the organization’s value to current members while expanding its reach to a growing number of prospective members. Joe Grecu brings to NAFA a wealth of business development, strategic planning, leadership and distribution experience that will be […]

    Prudential Chief Underwriter: Company Is First to Offer Life Coverage for HIV-Positive Clients

    {December 8th, 2015} by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com)

    NEWARK, N.J. – Prudential Financial said it has become the first U.S. insurer to underwrite standard convertible term life policies for HIV-positive adults who meet various health criteria. The move resulted from a “change in underwriting” and does not involve a specially developed policy for HIV-positive applicants, Prudential’s Chief Underwriter, Mike McFarland, told Best’s News […]

    A.M. Best Affirms Ratings of Sagicor Financial Corporation and Its Subsidiaries

    {December 8th, 2015} by Best's News Service

    Oldwick – A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of Sagicor Life Inc. (St. Michael, Barbados). A.M. Best has also affirmed the FSR of A- (Excellent) and the ICR of “a-” of Sagicor General Insurance Inc. (Sagicor General) (Bridgetown, Barbados), Sagicor Life […]

    How Do You Define ‘Fiduciary’?

    {December 8th, 2015} by Marketwired

      Survey identifies a ‘clear lack of regard’ for the word… even by those it applies to OMAHA, NE–(Marketwired – December 08, 2015) – CLS Investments, LLC (“CLS”), a third party money manager and a leading manager of exchange traded fund (“ETF”) portfolios, recently joined with MarketCounsel, a leading business and regulatory compliance consulting firm to […]

    Maximizing Fixed Indexed Annuity Earnings With Interest Crediting

    {December 8th, 2015} by Robert Bloink and William H. Byrnes

    While the popularity of fixed indexed annuities (FIAs) has soared in recent years, the decision to purchase the product is only the tip of the iceberg for clients looking to maximize their earnings potential. FIAs have developed to include a variety of features that can appeal to clients with varying goals and risk tolerances—the most […]

    National Underwriter’s 2015 Rogues Gallery

    {December 8th, 2015} by Allison Bell, Warren S. Hersch, Daniel D. Williams, Nichole Morford and Emily Holbrook

    Click HERE for the annual list of the top 10 individuals, organizations or regulations (in no particular order) that are hindering — instead of helping — the life insurance, health insurance and retirement planning industries.

    Brokers International to host WOMAN Forum in Tampa

    {December 7th, 2015} by Brokers International

      1200 E. Main St. P.O. Box 160 Panora, IA 50216 www.biltd.com 866.250.9160 PRESS RELEASE For immediate release Contact: Karen Bump WOMAN phone: 866.250.9160 Email: kbump@biltd.com Brokers International to host WOMAN Forum in Tampa Female financial professionals nationwide are invited to participate in Brokers International’s 2016 Women’s Mentoring Agent Network (WOMAN) Forum. During the two-day […]

    Two-Thirds of Adults Worldwide Are Not Financially Literate and Significant Gender Gap Exists, Finds Global Study

    {December 7th, 2015} by Standard & Poor’s

    S&P Survey –conducted by Gallup, GFLEC, and World Bank – finds major deficiencies globally in understanding of savings and borrowing; U.S. has large financial literacy gaps across gender, income, and education   WASHINGTON, D.C. Nov. 18, 2015 – In one of the most extensive measurements of global financial literacy to date, the Standard & Poor’s […]

    AIG Announces Secure Lifetime GUL 3

    {December 7th, 2015} by http://www.lifehealth.com/aig-announces-secure-lifetime-gul-3/

    HOUSTON, Dec. 7, 2015 – American International Group (NYSE: AIG) today announced the launch of Secure Lifetime GUL 3, a flexible premium, adjustable universal life insurance with secondary guarantee provisions designed to offer competitive pricing and consumer-friendly features. Issued by American General Life Insurance Company, the product comes equipped with competitive features such as a […]

    Nationwide Vaults To The FIA Leaders Table

    {December 7th, 2015} by Linda Koco

      Fixed index annuity sales roared to another record in third quarter 2015. The period produced some surprises too, such as a new carrier at the leadership table, a surge in FIA sales at banks, and a further dip in average compensation. The quarterly total closed at $13.5 billion, up nearly 21 percent from the […]

    Genworth Launches New Uncapped Index Crediting Strategy For Select Fixed Index Annuities

    {December 7th, 2015} by PRNewswire

    RICHMOND, Va., Dec. 3, 2015 /PRNewswire/ — Genworth announced today that it has launched a new uncapped volatility control spread index crediting strategy on select SecureLiving® Fixed Index Annuity products.  The strategy is based on the Barclays U.S. Low Volatility II Equity ER Risk Controlled Index (“Barclays U.S. Low Volatility Index”).  The volatility control spread strategy […]

    Wednesday! 10:30 AM CST WOMAN webinar

    {December 7th, 2015} by Jamie Johnson

      You can position yourself as a knowledgeable financial resource to women in your community with Brokers International’s brand new seminar package, Retirement Purse Strings. The seminar brings female prospects together to discuss their financial challenges and provides strategies to establish long-term financial independence. During the upcoming WOMAN webinar, you will get an inside look […]

    Annexus and Minnesota Life Introduce a New Innovation in Indexed Universal Life

    {December 7th, 2015} by PRWeb

    Annexus, an industry leader in indexed annuity design, and Securian Financial Group subsidiary, Minnesota Life, recently co-introduced a new, innovative indexed universal life (IUL) policy—Balanced Growth Advantage (BGA).   SCOTTSDALE, AZ (PRWEB) DECEMBER 03, 2015 Annexus has been a market leader in the design and distribution of indexed annuity products. “It was natural to take […]


    {December 7th, 2015} by Legacy Marketing Group

      For Immediate Release LEGACY LAUNCHES ENHANCED INCOME FEATURE ON LEGENDMARKSM SERIES OF ANNUITIES Already strong Income XL RiderSM payments can double (1.5X for joint annuitants) when clients can’t perform two of six ADLs. PETALUMA, CA, December 7, 2015—Legacy Marketing Group® is excited to announce a new enhanced income feature on the Income XL Rider, […]

    Up to 1,800 Jobs May be Affected in Zurich Insurance Streamlining

    {December 5th, 2015} by David Pilla, news editor, BestWeek: David.Pilla@ambest.com

    ZURICH – About 1,800 jobs may be affected as Zurich Insurance Co. Inc. outlines a global streamlining program that will include outright cuts estimated at about 1,100 in several phases through 2018. The job cuts include about 500 positions to be cut at Zurich Germany, announced in September, said Zurich spokesman Frank Keidel. He told […]

    9 best U.S. cities for advisors to find clients: 2015

    {December 4th, 2015} by Dan Berman

    These cities have the highest number of wealthy households with the fewest advisors to serve them. Financial advisors looking for the best places to find clients can start out by looking for cities in which there are a large number of wealthy households per advisor. With the economy gathering steam, Accounting Principals noted recently that jobs in finance […]

    Does Your FIA Index Crediting Strategy Swing for the Fences?

    {December 4th, 2015} by MIKE SCRIVER, BRENDAN SHEEHAN

    Babe Ruth began his baseball career in Boston as a pitcher. In 1919, he switched to a field position in order to bat on a daily basis. He batted extremely well, leading the league in home runs and runs batted in, but it wasn’t until he joined the New York Yankees in 1920 that he […]

    AIG reported to dismiss senior executives from some divisions

    {December 4th, 2015} by Sonali Basak

    American International Group Inc., the insurer that’s been slashing jobs to cut costs, dismissed four senior members of its real estate business including the group’s chief executive officer, Robert Gifford, according to a person familiar with the move. AIG Global Real Estate’s head of Americas, Donald Huffner, and Brooks Mohrman, who managed investments in Mexico, were also […]

    Ventura agent indicted for annuity misuse

    {December 4th, 2015} by Insurance Business

    An insurance agent in Ventura pleaded no contest to grand theft by false pretenses, theft from an elder, and money laundering; the man in question stole about $2 million from two elderly women, according to a news release by the California Department of Insurance published November 23. Joseph Anthony Mele, 30, is facing a sentence […]

    Demystifying Risk-Controlled Indices And Crediting Methods

    {December 4th, 2015} by Wink, Inc

    With interest rates at historical lows, and volatility always looming, indexed annuity sales have been reaching record levels year over year. How have risk-controlled indices contributed to this steady and impressive growth? Join our panel of industry leaders as they tackle this question, including Sheryl J. Moore, CEO of Moore Market Intelligence and co-author of […]

    US Life-Annuity Insurers Positioned to Address Shifting Tides in 2016

    {December 4th, 2015} by EY

    Technology, consumer expectations and competition influencing insurer strategies NEW YORK, Dec. 4, 2015 /PRNewswire/ — US life-annuity insurers will enter 2016 in relatively good financial condition, though rapid advances in technology, rising customer expectations and increasing competition will require insurers to reinvent their strategies, services and processes, according to the 2016 EY US life-annuity insurance outlook. […]

    Americans lose track of financial risks as they accumulate wealth: Report

    {December 3rd, 2015} by IFAWebnews Staff

    Many Americans aged 34 to 50 lose track of their financial risks as they pursue careers, raise families and accumulate wealth, according to a new white paper from Chubb Personal Insurance. In addition, many neglect to secure sufficient insurance coverage as their wealth increases. The white paper, “A Lost Generation? Wealth Accumulators Are an Overlooked […]

    Opponents of DOL’s Fiduciary Rule Worried About Fate of Annuities

    {December 3rd, 2015} by Alex Padalka

    The Department of Labor’s proposal to impose the fiduciary standard on retirement accounts is getting closer to its 2016 unveiling, in spite of many calls from the rule’s critics to stop or delay its implementation. But opponents are now worried about the effect the rule may have on — of all things — annuities, writes […]

    Sales of Annuities Tied to Strategies Fall in Quarter

    {December 3rd, 2015} by BEN EISEN, BLOOMBERG BRIEF

    BY BEN EISEN, BLOOMBERG BRIEF Sales of annuities tied to formula-driven proprietary indexes and other specialized strategies declined during the third quarter as two sellers pulled back. Insurers sold about $3 billion of the products, according to data from Wink’s Sales & Market Report for the three months through September, released Nov. 25. That’s down […]

    32 goals for insurance advisors in 2016

    {December 2nd, 2015} by David Port

    As many times as you have urged your clients to set goals for themselves, as frequently as you have goaded them to make a bucket list and a plan for pursuing the items on it, how often have you actually practiced what you preached? Whether or not you buy into New Year’s resolution-making, as a […]

    Genworth closes sale of lifestyle protection unit to AXA

    {December 2nd, 2015} by IFAWebnews Staff

    PRESS RELEASE: The following content has been reprinted in whole or part from a company-supplied press release or issued statement.  RICHMOND, Va. — Genworth Financial, Inc. announced that it has closed the sale of its lifestyle protection insurance business to AXA. The adjusted sale price was approximately $490 million and net proceeds from the transaction, […]

    Agents Need Stronger Holiday Sales Message

    {December 2nd, 2015} by Cyril Tuohy

    In affluent Denver, at the foot of the Rocky Mountains, financial planner Kristi C. Sullivan stares at the sight of big-box store shoppers fighting to be first to buy 50-inch flat-panel TV at a deep discount. Click HERE for the several thoughts that come to mind, she writes in an email to InsuranceNewsNet. 

    Annuity Sales are Soft

    {December 2nd, 2015} by Ben Mattlin

    Statistics don’t lie, but they can be interpreted.  Recently, the Secure Retirement Institute, a division of the industry data-tracker LIMRA, found that total U.S. annuity sales fell 3% in the second quarter of 2015 from the corresponding period a year earlier. For the first half of the year, they dropped 5% from the preceding year. […]

    iPipeline Launches Bank and Broker-Dealer Technology Advancement Program with Four Seasons Financial Group to Simplify and Streamline Life and Annuity Processing

    {December 2nd, 2015} by iPipeline

    SFG to Deliver Training and Fulfillment Services with iPipeline’s Leading Technology to Modernize Processing Exton, PA (December 1, 2015) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance industry– today announced the launch of its Bank and Broker-Dealer Technology Advancement Program.  Under the program, iPipeline will deliver the next-generation of […]