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Archive for July 2016


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  • How will annuities fit in portfolios in a fiduciary world?

    {July 29th, 2016} by Chris Orlando

    The annuity space has always raised red flags, from tax-free exchange rules, to suitability, to whether index annuities are securities, to the new fiduciary rule. At every turn, annuities are scrutinized. But as I see it, there are no bad financial products or good financial products – it is how a financial professional uses a […]

    U.S. employers slow to offer annuities and insurance-backed products

    {July 29th, 2016} by Lifehealthpro Editors

    U.S. employers that sponsor defined contribution (DC) retirement plans are beginning to embrace lifetime income solutions to help employees improve their financial security in retirement, according to a new Lifetime Income Solutions Survey by Willis Towers Watson, a global advisory, broking and solutions company. Lifetime income solutions include education and the tools necessary to help […]

    Fidelity Investments® Adds New York Life Fixed Annuity to Product Lineup

    {July 28th, 2016} by Fidelity Brokerage Services

    BOSTON–(BUSINESS WIRE)–Fidelity Investments® announced that the New York Life Clear Income Fixed Annuity – FP Series will be made available as part of Fidelity’s product portfolio. The new product is a fixed deferred annuity with a guaranteed lifetime withdrawal benefit that provides customers with guaranteed1 income throughout retirement along with greater flexibility in the form […]

    Little-known, AAA-rated firms are beating the insurance giants

    {July 27th, 2016} by Katherine Chiglinsky

    (Bloomberg) — Are shareholders bad for business? More and more, the answer in the U.S. life insurance industry is turning out to be a resounding “yes.” Since 2008, publicly traded insurers have seen their share of the $4 trillion market shrink vis-à-vis mutual companies, according to data compiled by Bloomberg Intelligence. The trend has been particularly […]

    Western & Southern Life Introduces New Whole Life Product

    {July 26th, 2016} by Western & Southern Life

    CINCINNATI — July 21, 2016 — Aiming to capitalize on a growing demand for whole life insurance, The Western and Southern Life Insurance Company (Western & Southern Life) has introduced Simple Choice Whole Life. This whole life insurance product with optional paid-up additions riders provides protection for loved ones while building cash value. According to […]

    New Allianz Life Study Shows Strong Interest for Financial Solutions that Offer Opportunity for Increasing Income

    {July 26th, 2016} by Allianz

    MINNEAPOLIS–(BUSINESS WIRE)–In order to help address the risks caused by inflation, many Americans are looking to financial products that not only provide guaranteed income in retirement, but also offer the opportunity for their income to increase, according to a new study* by Allianz Life Insurance Company of North America (Allianz Life®) that explores Americans’ perceptions […]

    Both annuity awareness, sales growing

    {July 26th, 2016} by Peggy Bresnick

    June 2016 marked the second annual Annuity Awareness Month, an event designed to increase consumer knowledge of the benefits of annuities. Different organizations bonded together to form The Coalition for Annuity Awareness that manages the event, including Beacon Research, the Society of Financial Service Professionals (FSP), the National Association for Fixed Annuities (NAFA), the National […]

    Eighty Six Percent of Insurance Professionals Believe the Industry is Making Strides Toward Achieving Gender Equality

    {July 26th, 2016} by Insurance Industry Charitable Foundation

    IICF Study: More Active Recruitment of a Gender-Diverse Workforce Plays Key Role New York (July 26, 2016) – The insurance industry is demonstrating significant progress when it comes to gender equality, according to 86 percent of women attending the Insurance Industry Charitable Foundation’s (IICF) 2016 Women in Insurance Conference Series. The study, which was conducted […]

    Allianz Life exec: Index variable annuities address market volatility fears

    {July 26th, 2016} by Kristen Beckman

    Allianz Life Insurance Co. of North America is one of the country’s largest annuity providers. The company ranked fourth (up from fifth place last year) on LIMRA Secure Retirement Institute’s first-quarter 2016 ranking of annuity providers with $3.3 billion in annuity sales. The company’s focus on fixed annuities helped propel it into a top-five spot on […]

    Americans seek raises, even in retirement income

    {July 26th, 2016} by Marlene Y. Satter

    Americans are worried about how they’ll pay their bills if they don’t get pay raises, and that extends to retirement income. That’s according to a new study from Allianz Life Insurance Co. of America, which found Americans starting to look beyond the job to wonder how they’ll get pay raises during retirement. Competition in recruiting […]

    Regulations Batter Independent Agent Channel

    {July 26th, 2016} by Cyril Tuohy

    Over the next two years, the insurance broker-dealer channel is expected to overtake the independent agent channel as the favored conduit for the sale of life insurance and annuities in the eyes of insurance companies, according to a new report. The insurance broker-dealer channel surpassing the independent agent segment is a sign that regulation is […]

    5 alternatives to Indexed Universal Life insurance


    Insurers and policyowners can configure an Indexed Universal Life (IUL) policy’s premium payments and death benefits to resemble virtually any type of life insurance policy, from annually-renewable term to single premium whole life. Consequently, any other type of policy that meets a policyowner’s needs is a suitable, and perhaps preferable alternative if the policyowner does […]

    U.S. Chamber: DOL overstepped its authority with fiduciary rule

    {July 26th, 2016} by Melanie Waddell

    The Department of Labor, in finalizing its fiduciary rule, “has sought to transform the financial services and insurance industries, stepping far beyond its authority” under the Employee Retirement Income Security Act and the IRS Code governing individual retirement accounts, the U.S. Chamber of Commerce argues in latest brief filed Monday in federal court in Texas.   […]

    The top 50 life & health insurance companies of 2016

    {July 26th, 2016} by Emily Holbrook

    Statistics can tell a lot, not only about the financial health of companies, but also how they stack up against one another. In this annual feature, we take the pulse of 50 top-ranking life and health insurers when measured against four key metrics: net investment income, total enrollment (health lines only), policyholder surplus and net […]

    Insurers seek more time to comment on new capital requirements

    {July 26th, 2016} by Arthur D. Postal

    WASHINGTON — The insurance industry is asking the Federal Reserve Board of Governors for more time to respond to a request for comments on regulatory capital requirements that the agency would impose on insurers designated as systemically significant and those that operate thrift holding companies. The request was made July 6 by the American Council of Life Insurers […]

    Why consumers’ attitudes toward life insurance are changing

    {July 26th, 2016} by Ed McCarthy, CFP, RICP

    It’s impossible to predict if and how estate taxes could change under a new president and Congress, but for 2016, at least, married clients with joint estates under $5.45 million still fall under the taxable threshold. States’ estate taxes are another story, of course, and can still require planning. The liquidity that life insurance provides […]

    How do I find the right IUL marketing partner?

    {July 26th, 2016} by Greg Stein

    The Challenge… by Greg Stein I’m researching independent marketing organizations and field marketing organizations in search of a partner with a great indexed universal life platform. Qualities that are important to me in a partner are knowledge and understanding of the product, marketing and lead generation, and internal support. What are some strategies for finding […]

    MetLife to divest U.S. life business, rebrand as Brighthouse

    {July 25th, 2016} by IFAwebnews Staff

    MetLife announced that it will rebrand its U.S. life insurance business as Brighthouse Financial after it is divested from the firm in the coming months. A timeline regarding the structure and timing of the separation has not been announced. U.S. life insurance has been the company’s main business for more than a century and contributed […]

    Who has skin in the presidential race? Not insurers!

    {July 22nd, 2016} by Editorial Staff

    Only 2% of insurers believe that the outcome of this year’s presidential race between Democrat Hillary Clinton and Republican Donald Trump will matter much to the fortunes of their industry. They’re much more worried about low interest rates, according to a new A.M. Best Special Report titled “A.M. Best Spring 2016 Insurance Industry Survey.” The report […]

    Heightened mortality, DOL rule take toll on life/annuity sales

    {July 22nd, 2016} by Kristen Beckman

    The U.S. Department of Labor rule affected sales of life and annuity products during the first quarter, according to new research released by rating services company A.M. Best. Sales of variable annuitiesdropped 18 percent during the quarter and saw $5.6 billion net transfer out of separate accounts. Individual annuities continue to make up the majority […]

    Broker-dealers expected to overtake independent agent channel in life insurance sales

    {July 21st, 2016} by Lyle Adriano

    According to a recent report, insurers will be more likely to choose the insurance broker-dealer channel to sell life insurance and annuities instead of the independent agent channel in the next two years. The report, entitled “Life and Annuities: Shifting to Direct-to-Consumer Channels,” suggests that strict regulation has taken its toll on independent commission-based insurance […]

    Why millennials are attracted to the RIA model

    {July 21st, 2016} by Michelle Zhou

    For millennials, financial literacy is under taught and its value under appreciated, says Julia Buchholz, a senior at the University of Illinois Urbana-Champaign. Buchholz wants to change that by becoming a financial planner – a welcome move for an industry that is facing adviser shortages and a dearth of young talent. “The RIA industry has […]

    Low interest rates make some fixed-index annuities shine

    {July 21st, 2016} by Andrew Murdoch

    This is an unusually tricky time to be a prospective annuity buyer. Previously low interest rates have slipped further, to subterranean depths, illustrated by the fact that the yield of the benchmark 10-year U.S. Treasury note closed at a record low 1.37% in early July. The conundrum is this: Experts have consistently said that ultra-low […]

    MetLife shelves 148-year-old U.S. retail brand for ‘Brighthouse

    {July 21st, 2016} by Katherine Chiglinsky

    (Bloomberg) — MetLife Inc., the New York-based insurer that traces its roots to the 1860s, said it’s come up with a new name for a U.S. retail unit that’s slated for separation. The business will be known as Brighthouse Financial once it’s broken off from the parent company, MetLife said Thursday in a statement. MetLife said […]

    Financial Advisors Grow Business In LGBT Market

    {July 20th, 2016} by Karen Demasters

    Financial advisors can find new opportunities for helping individuals and couples with their financial planning in the LGBT community, says LIMRA, a global research and educational organization for the financial industry. Members of the lesbian, gay, bisexual and transgender community have seen positive changes for themselves in recent years, but these changes may give rise […]

    Who likes robo-advisors? Not these people

    {July 20th, 2016} by Marlene Y. Satter

    Data from two retirement providers indicates that the appetite for automated retirement advice is low The finance industry may be going robo, but that doesn’t mean that’s exactly what the client wants. In fact, independent data from two retirement providers indicates that the country’s appetite for full robo retirement advice is low. A Northwestern Mutual […]

    NCOIL Committee Urges Repeal Of Fiduciary Rule

    {July 20th, 2016} by NCOIL

        For Immediate Release DATE: July 20, 2016 Contact: Paul Penna (732) 201-4133   NCOIL FINANCIAL SERVICES COMMITTEE PASSES RESOLUTION URGING REPEAL OF DEPARTMENT OF LABOR FIDUCIARY RULE Threat to Proven State Based Regulation of Insurance Manasquan, NJ – The NCOIL Financial Services & Investment Products Committee passed a resolution sponsored by Arkansas Senator Jason Rapert […]

    How Lapsing A Life Insurance Policy With A Loan Can Cause A Tax Bomb

    {July 20th, 2016} by Michael Kitces

    Life insurance serves a valuable social purpose, allowing families to protect themselves against the economic consequences of an untimely death of a breadwinner. In fact, life insurance is viewed as such a positive that Congress provides significant tax preferences for insurance policies, including tax-deferral on any growth in the cash value, and a tax-free death […]

    Good Luck Coach Peterson!

    {July 19th, 2016} by Wink RockStars

    Good luck to our VP of Operations, Tori Peterson as she leads her talented Grandview Little League 2016 AllStars softball girls through Regionals in South Bend Indiana this weekend. The winner will be 2016 Senior League Softball Central Region Champion.       UPDATE on July 25, 2016: These champions came home with THIRD PLACE! […]

    The top 4 life insurance brands of 2016

    {July 19th, 2016} by LifeHealthPro Editors

    State Farm takes Brand of the Year honors in the home and life insurance categories, holding steady in its equity ratings as the insurance category overall experiences declines, according to The Harris Poll 2016 EquiTrend Study. The 28th annual study awards the strongest brands in nearly 100 categories across the media, travel, financial, automotive, entertainment, […]

    Prudential fined after 89-year-old customer’s annuity is raided

    {July 19th, 2016} by Wire Service

    Bloomberg News A Prudential Financial Inc. unit was fined by the Financial Industry Regulatory Authority for overlooking warning signs that an LPL Financial Holdings Inc. salesman was stealing about $1.3 million from an 89-year-old client’s variable-annuity account. Travis Wetzel, a former LPL sales assistant in Maryland, transferred money from the customer to a bank account […]

    Enhanced financial modeling software available for U.S. life insurers

    {July 19th, 2016} by GlobeNewsWire

    ARLINGTON, Va., July 19, 2016 (GLOBE NEWSWIRE) — Willis Towers Watson (WLTW), a leading global advisory, broking and solutions company, today announced the availability of its updated U.S. Library of Applications, version 3.1, designed for the financial modeling of life insurance, annuity and long-term care products. U.S. Library 3.1 provides a broad array of new […]

    10 advantages of term life insurance


    Term life insurance is among the devices that people should consider when they want to provide an immediate estate for loved ones after their death. Although term insurance is not always the most effective type of life insurance for all of a client’s death benefit needs, it can be useful in many circumstances. Since term […]

    Life insurance policy reviews: 6 key questions explored

    {July 19th, 2016} by Warren S. Hersch

    Reviewing a client’s or prospect’s life insurance coverage needs might seem straightforward. But too often, agents and advisors overlook critical questions that can result in a poor product recommendation — one that fails to meet income replacement, living benefit, wealth transfer or other planning needs. To get better acquainted with policy review issues, LifeHealthPro interviewed Palmer Williams, […]

    4 misconceptions about marijuana and life insurance

    {July 19th, 2016} by Jeff Root

    With just about half of America’s states legalizing marijuana use for medicinal purposes, insurance carriers have changed their underwriting approach for these types of cases. With the changing times comes a big gray area and a lot of misconceptions. Click HERE for four of them


    {July 19th, 2016} by NCOIL

    For Immediate Release July 19, 2016 Contact: Paul Penna (732) 201-4133 Discussed Challenges Facing State Based Regulation, Committees Met to Discuss Important Issues in the States, Heard from Speakers on Timely Issues and Readopted Model Laws   Manasquan, NJ: – The National Conference of Insurance Legislators yesterday concluded the 2016 Summer Conference at the Downtown […]

    Suicide Insurance: A New Product With Broader Market Applications

    {July 19th, 2016} by InsuranceNewsNet

    Suicide insurance is relatively new to the market. There are two main areas in which it can be used. It is essentially used to protect third parties from net losses resulting from an individual’s suicide death, in a situation where the third party has advanced money to the deceased individual such as in the case […]

    Bankers Life Launches Guaranteed Lifetime Income Annuity

    {July 19th, 2016} by PRNewswire

    CHICAGO, July 18, 2016 /PRNewswire/ — Bankers Life and Casualty Company, a national life and health insurer, today announced a new addition to its portfolio of annuity products, Guaranteed Lifetime Income Annuity (GLIA). GLIA is a single-premium fixed indexed annuity designed to provide customers with a safe and reliable retirement savings solution that can help accumulate […]

    Survey Results Expose Insurance Industry Training Needs On the Rise Due to DOL Fiduciary Standard Rule

    {July 19th, 2016} by Insurance Insight Group

    Park City, UT (July 19, 2016) – Insurance Insight Group (IIG) conducted a survey of company executives and financial professionals that reveals significant changes are anticipated within the insurance industry as the DOL fiduciary rule applicability date of April 2017 nears. The survey exposed financial professionals’ opinions on anticipated changes to their practices, marketplace and […]

    A ‘Saw-Tooth’ Pattern to Cut Risk, Increase Returns

    {July 19th, 2016} by Michael Tove

    How fixed indexed annuities can achieve three specific goals to preserve and grow your client’s qualified retirement account. Central to the Department of Labor’s fiduciary rule is the preservation and growth of qualified retirement accounts such as individual retirement accounts and 401(k)s. Specifically, achieving a best practices result should focus on three particular goals: 1. […]

    Insurance Industry Must Confront Data Breaches on Two Fronts

    {July 18th, 2016} by Gary S. Miliefsky

    While protecting others from a menu of breaches, industry must also protect itself The overwhelming number of data breaches over the last few years has every private company and government agency desperately trying to guard its system against cyber criminals. But unlike most other professions, the insurance industry is affected in two ways by the threat. […]

    Allianz Life Community Impact Tops $1.9 Million and Employees Volunteer 15,500 Hours for Local Nonprofits

    {July 18th, 2016} by Allianz Life

    MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) announced in its annual Giving and Volunteerism Report that nearly 1,500 employees volunteered 15,500 hours, an increase of 2,500 hours compared to 2014. Together with corporate grants, vendor contributions and employee donations, the company impact totaled $1.9 million to make a difference in the lives […]

    DOL fiduciary rule: Disruption or opportunity? Opinion

    {July 18th, 2016} by Anton Honikman

    Most coverage of the Department of Labor’s (DOL) fiduciary rule has focused on the challenges it will introduce for firms, such as increased costs, compliance and margin pressure. However, as we all know, within any challenge there lies opportunity.  With today’s new challenge, industry leaders will take the opportunity to go beyond the basics of the […]

    Warren Buffett Reveals His Best Insurance Investment in the July Issue of Best’s Review

    {July 18th, 2016} by Best's News Service

    CONTACTS:   Patricia Vowinkel Executive Editor, Best’s Review +1 908 439 2200, ext. 5540 patricia.vowinkel@ambest.com   FOR IMMEDIATE RELEASE OLDWICK – JULY 18, 2016 In an interview with Best’s Review®, Warren Buffett says he made one of his best investments when he chose Ajit Jain to run his reinsurance business nearly 30 years ago. Jain, […]

    How do I choose the right marketing organization?

    {July 15th, 2016} by LifeHealthPro

    The Challenge…by Charlie Schrantz  I’m shopping for a large IMO to help with my life and annuity case designs. What is the best way to research IMOs so I can choose the best one for my needs? In addition to asking for higher commission payout and support, are there specific questions I should be asking? […]

    Report flags top 5 threats facing insurers

    {July 15th, 2016} by LifeHealthPro Editors

    Approximately three-fourths of insurers surveyed have lowered their target return-on-equity expectations to 10 percent or lower, a reflection of highly competitive market conditions remaining and the slow-growth economy, according to a new A.M. Best special report. The report, “A.M. Best Spring 2016 Insurance Industry Survey,” assesses insurers’ opinions on a number of key themes, including market conditions, […]

    A.M. Best Affirms Ratings of New York Life Insurance Company and Its Subsidiaries

    {July 15th, 2016} by Best's News Service

    CONTACTS:   Igor Bass Financial Analyst +1 908 439 2200, ext. 5109 igor.bass@ambest.com Ken Johnson, CFA, CAIA, FRM Vice President +1 908 439 2200, ext. 5056 ken.johnson@ambest.com Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com Jim Peavy Assistant Vice President, Public Relations +1 908 439 2200, ext. 5644 james.peavy@ambest.com FOR IMMEDIATE […]

    The Photo Issue: Sheryl Moore

    {July 15th, 2016} by Anne Carothers- Kay

      BY ANNE CAROTHERS-KAY, Managing Editor Friday, July 15, 2016 6:00 AM Sheryl Moore President, CEO, Moore Market Intelligence and Wink, Inc.  Body Art Sheryl Moore admits she’s a little OCD. That’s why when she says she likes the Beastie Boys, an ’80s rock-rap group that she started following as a child, that means that she […]

    New MassMutual Firm Now Open in Iselin

    {July 14th, 2016} by PRNewswire

    ISELIN, N.J., July 12, 2016 /PRNewswire/ — MassMutual Tri State is pleased to announce that it is now affiliated with Massachusetts Mutual Life Insurance Company (MassMutual). MassMutual Tri State is located at 186 Wood Avenue, Suite 301 in Iselin, New Jersey. The affiliation follows an announcement by MassMutual and MetLife on July 1st, 2016 that […]

    Lincoln: Commissions Can Be Best Deal For Consumers

    {July 14th, 2016} by Cyril Tuohy

    Is it in the best interest of a mutual fund investor to pay a broker a 1 percent annual fee on invested assets of $100,000 in a retirement account? Or is a 4.5 percent up front commission and .25 percent annual trail commission on $100,000 variable annuity with a lifetime income rider in the best […]

    Analysts Expect Sunnier 2Q For Life Insurers

    {July 14th, 2016} by Cyril Tuohy

    Fewer deaths, higher fees and higher investment income are expected to help life insurance companies post better results in the second financial quarter than they did in the first quarter, a pair of Wall Street analysts said. With 149,000 deaths in the second quarter, down from 161,000 deaths in the first quarter, insurance companies likely […]

    Insurers developing fee-based fixed-indexed annuities post-DOL fiduciary rule

    {July 14th, 2016} by Greg Iacurci

    Insurance companies are going full steam ahead developing fee-based fixed-indexed annuities due to greater anticipated demand from distributors for advisory products as a result of the Labor Department’s fiduciary rule. Please view full article at:http://www.investmentnews.com/article/20160714/FREE/160719964/insurers-developing-fee-based-fixed-indexed-annuities-post-dol         This sort of fee-based product development is new among fixed-indexed annuity product manufacturers. Midland National Life […]

    Robo advisor, meet millennial advisor

    {July 14th, 2016} by Lori Widmer

    Thomas Forbes thinks the robo-advisor is an interesting evolution for the insurance and financial planning industry. Forbes, associate financial representative for Northwestern Mutual in Los Angeles, sees the rise of the robo-advisor as both a challenge and an opportunity. “It makes sense to where we are today in the world. I think it will slowly […]

    Insurance regulators respond to ongoing low interest rates

    {July 14th, 2016} by Arthur D. Postal

    WASHINGTON — State insurance regulators are considering or phasing in a number of changes aimed at allowing the life insurance industry to cope with what appears will be a protracted period of low interest rates. Bloomberg News said Tuesday that traders are pricing in “little chance of an interest rate hike in July by the Federal […]

    A.M. Best Affirms Ratings for Sammons Financial Group, Inc. and its Subsidiaries

    {July 14th, 2016} by Best's News Service

    CONTACTS: Anthony McSwieney Senior Financial Analyst +1 908 439 2200, ext. 5715 anthony.mcswieney@ambest.comWilliam Pargeans Assistant Vice President +1 908 439 2200, ext. 5359 william.pargeans@ambest.com Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.comJim Peavy Assistant Vice President, Public Relations +1 908 439 2200, ext. 5644 james.peavy@ambest.com FOR IMMEDIATE RELEASE OLDWICK – JULY […]

    Innovating in Adverse Markets

    {July 14th, 2016} by Jamie Johnson

    The third annual Des Moines Insurance Conference, held in Des Moines, IA at the Principal home office on June 28th, 2016, gave attendees had a special treat for lunch and it wasn’t just the great brownies provided. Wink’s CEO, Sheryl J. Moore was the guest speaker at the conference luncheon presenting on “Innovating in Adverse […]

    6 annuity guaranteed minimum living benefit riders

    {July 14th, 2016} by Kristen Beckman

    It has been nearly 20 years since the first guaranteed minimum living benefit (GMLB) riders were introduced on variable annuity contracts. Before that, principal protection was only offered in case of death. Since then, different types of living benefit riders have been introduced, and these options have become popular on both variable and fixed index […]

    Milliman Survey Reveals Reactions to UL/IUL Regulatory Changes

    {July 13th, 2016} by PRNewswire

    SEATTLE, July 12, 2016 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, today released new results from participants in its annual comprehensive study of universal life (UL) and indexed universal life (IUL) issues, namely, the reaction of issuers of universal life products to recent and upcoming regulatory changes. Principle-based reserves (PBR) will […]

    Why women are more likely than men to face poverty after retirement

    {July 13th, 2016} by Associated Press

    CHICAGO — During their working years, women tend to earn less than men, and when they retire, they’re more likely to live in poverty.  These are women who raised children and cared for sick and elderly family members, often taking what savings and income they had and spending it on things besides their own retirement […]

    FMOs Retain Fixed Indexed Annuity Dominance by Launching Own Broker-Dealer

    {July 13th, 2016} by Rachel Summit

    By Rachel Summit , with Annuity FYI  Field Marketing Organizations (FMOs,) also known as Independent Marketing Organizations (IMOs), are worried about the fixed indexed annuity requirements that come with the DOL’s new fiduciary rule. These types of organizations represent independent agents, a group that accounted for 60% of indexed annuity product sales in the first […]

    Justice Dept. defends DOL fiduciary rule

    {July 12th, 2016} by Ryan Barber and Melanie Waddell

    The U.S. Justice Department is urging a Washington federal judge to reject a challenge to a sweeping new rule that requires investmentadvisors to work in their clients’ best interests — a heightened standard aimed at protecting retirement savers from billions of dollars in fees. The National Association for Fixed Annuities, represented by a team from […]

    Survey: Gender gap remains in retirement planning

    {July 12th, 2016} by Kristen Beckman

      Men think about and talk about retirement more frequently than women and believe they are more educated about the tools needed to prosper during their golden years, according to results of a survey by OneAmerica, a mutual organization of financial companies. The online survey gathered responses from more than 10,500 participants and studied the role gender […]

    DOL 101: The fiduciary rule’s impact on IMOs: OPINION

    {July 12th, 2016} by Kevin W. Mechtley, J.D.

    The Department of Labor’s fiduciary rule is the most significant industry game-changing development we have seen since the tax reform to annuities in the early 1980s. As an annuity compliance expert with a leading consulting company, the biggest question I receive these days is: “How do I comply?” Even though I’d like to have a […]

    Total Overall IUL Sales! (2015)

    {July 11th, 2016} by Jamie Johnson

    In 1998, Wink began tracking indexed universal life sales by insurance carrier each year in our quarterly Wink’s Sales & Market Report.  Please enjoy our updated “Total Overall Indexed Universal Life Sales” data from 1998 through 2015. Global Atlantic Financial Group (Accordia Life) continues as the leader for Total Overall Indexed Indexed Universal Life Sales with […]

    DOL rule could slow insurance sales for independent channel

    {July 11th, 2016} by Warren S. Hersch

    Researchers have examined the implications of the new fiduciary standard on insurers The Department of Labor’s new fiduciary rule will could depress sales for brokers and agents by forcing a consolidation of the independent channel’s players, a new report warns. Global investment management firm Conning & Co. discloses this finding in “Life‐Annuity Distribution & Marketing Annual: […]

    DOL clarifies fiduciary rule for insurance companies

    {July 11th, 2016} by Melanie Waddell

    Meanwhile, a House Appropriations bill states that no DOL fiduciary rule ‘shall have an effective date or have any legal effect.’ The Department of Labor has issued technical corrections to the fiduciary rule, specifically clarifying whether insurance companies can use the best interest contract exemption as well as principal transaction exemption clarifications. Meanwhile, the first hearing has been set in […]

    DOL Issues Fixes To Conflict Of Interest Rule

    {July 11th, 2016} by Cyril Tuohy

    Department of Labor regulators Thursday clarified a rule tightening investment advice standards to allow insurance companies to continue to sell life insurance and annuities into retirement accounts under an exemption. The exemption, known as the Best Interest Contract Exemption, allows certain fiduciaries to receive compensation that may otherwise be barred. Clarifications, or technical amendments, were […]

    Confused about the DOL rule? Here are answers to 15 questions

    {July 11th, 2016} by Jeffrey Levine

    Since the U.S.Department of Labor released its long-awaited fiduciary rule last April, advisors have been clamoring for information, trying to figure out if and how the rule will impact their business. While questions have been coming fast and furious, some have popped up more often than others. With that in mind, here are some of […]

    First on the Docket: Market Synergy v. DOL Fiduciary Rule

    {July 11th, 2016} by John Hilton

    A Topeka, Kan. court will hear arguments Aug. 24 on insurance agency Market Synergy Group’s lawsuit to stop the Department of Labor fiduciary rule. The Market Synergy lawsuit in U.S. District Court for the District of Kansas is one of three lawsuits seeking a preliminary injunction. As it stands, it will be the first appeal […]

    Fixed Indexed Annuity Sales Surge Amid Fiduciary Rule Concerns

    {July 11th, 2016} by Sean Forbes

    July 6 — The fixed indexed annuities industry has historically been successful in its battle for independence from federal and state securities regulations that would tighten the reins on its products, but may have met its match with the DOL’s new fiduciary rule. However, the industry hasn’t given up the fight, and is sounding an […]

    Meet 4 execs who are shaping the insurance industry of the future

    {July 11th, 2016} by Emily Holbrook

    This year’s nominations for the National Underwriter Life & Health Industry Elite Awards were stronger than ever; a who’s who of the best and brightest in the realms of market innovation, industry awareness, community outreach and young talent. Our winners and honorable mentions this year stand out at a time when the industry is undergoing unprecedented challenges and […]

    New York agrees to industry-backed insurer reserve rules

    {July 11th, 2016} by Arthur D. Postal

    WASHINGTON — New York today fell in line with a decision made by the National Association of Insurance Commissioners (NAIC) to shift reserve requirements for universal life insurance with secondary guarantees, and term life insurance products will shift to a more flexible evaluation system. However, New York will only adopt the system as of Jan. 1, […]

    The Standard to open Virginia office, create 200 jobs

    {July 11th, 2016} by IFAwebnewsStaff

    Standard Insurance Company (The Standard) announced that it will open a satellite office in Altavista, Va., near Lynchburg. The life insurance and employee benefits provider is planning to have the office staffed and operations by September. The Standard’s first priority will be to establish and build teams supporting the company’s Life and Disability Services organization. […]

    Lapse rates of ordinary life products near two-decade low: A.M. Best

    {July 11th, 2016} by Editorial Staff

    The last two years have seen the highest persistency rates in nearly 20 years, around 86%, according to a new A.M. Best report. Running between 5.3% and 5.9% in the years 2012 to 2015, lapse rates on ordinary life insurance products have fallen to their lowest level in nearly two decades, according to a new A.M. […]

    DOL Posts Technical Fixes to Fiduciary Rule

    {July 11th, 2016} by Frank Klimko

    WASHINGTON – The U.S. Labor Department issued technical corrections to the fiduciary rule update, addressing one of the legal issues raised in litigation challenging the legality of the new rules, which change how retirement advisers conduct business. The clarifications, or technical amendments, were posted in the July 11 Federal Register and are part of the […]

    The 60/40 Portfolio is DEAD!

    {July 8th, 2016} by Tom Hegna

    Long Live Life Insurance and Annuities! Financial advisors need to adapt and stay ahead of the trends! There are so many traditional views of the “proper way” to retire that have worked for 40 to 50 years. Even as recent as 10 years ago, these strategies may have been successful. But do all of these […]

    9 tips: Using life insurance to protect affluent client assets

    {July 8th, 2016} by Prudential

    Your clients — especially those with high incomes — have the need for death benefit protection as well as a seemingly unlimited number of retirement investment options. As a financial advisor, you have an opportunity to meet the needs of your high-income clients with life insurance. So, how can life insurance help your high-income client better manage […]

    Life insurance: You can lose out just being associated with pot

    {July 8th, 2016} by Ben Steverman

    (Bloomberg) — A few weeks ago, Derek Peterson got a letter from Mutual of Omaha, turning him down for life insurance. “Our decision was based on,” the letter said, then trailed off (Monty Python-style) and picked up in all caps:  WE HAVE DISCONTINUED THE PROCESSING OF YOUR APPLICATION FOR INSURANCE DUE TO COMPANY POLICY. WE CANNOT ACCEPT […]

    One year after landmark court case, financial picture for LGBT people is mixed

    {July 8th, 2016} by Warren S. Hersch

    The U.S. Supreme Court decisionlegalizing same-sex marriageone year ago led to widespread optimism that the lives of LGBT people would improve. The sentiment was particularly strong in regard to same-sex couples: The ruling would avail them of federal marriage rights and privileges enjoyed by their heterosexual counterparts. That indeed has been a result for a […]

    Financial planner for same-sex couples

    {July 8th, 2016} by Courier Newsroom

    PRIDE CELEBRATION (AP Photo/Bullit Marquez/File) When a landmark U.S. Supreme Court decision in 2015 legalized same-sex marriage, it brought many changes to same-sex couples and their families. Among other things, it made a momentous alteration to their financial planning outlook. One significant change was that same-sex couples no longer have to navigate a hodgepodge of […]

    6 Reasons Singles Should Get Life Insurance

    {July 7th, 2016} by BSMG

    Life insurance is often overlooked by those who aren’t depended on financially by others. When we are young and independent life insurance is often the last thing on our minds but it shouldn’t be!     It’s assumed that Life Insurance is for married couples only, but being young and independent is the perfect time […]

    Superior customer experience equals better returns for insurers, report says

    {July 7th, 2016} by LifeHealthPro Editors

    Insurance companies that deliver a great customer experience are rewarded over the long-term, by consumers and investors. That’s the conclusion from customer experience advisory firm Watermark Consulting. In a new report, the company details its analysis of stock market returns for insurers that lead in customer experience versus those that lag. Click HERE to read more… […]

    The declining retirement age is dead

    {July 6th, 2016} by Emily Zulz

    Over the last 100 years in the United States, the average retirement age has declined dramatically from 76 in 1900 to 64 in 2010. The same is true globally, according to a recent BofA Merrill Lynch Global Research report. The average retirement age in developed countries had declined from 68 years in 1970 to a low […]

    LIMRA LOMA Launches Course on DOL Fiduciary Rule Implications

    {July 6th, 2016} by LIMRA LOMA Secure Retirement Institute

    New research finds nearly three quarters of plan providers believe they will need to train their employees WINDSOR, Conn. – July 5, 2016 – The LIMRA LOMA Secure Retirement InstituteTM today announced the recent launch of DOL Fiduciary Basics for Employees, a new short online course that offers an unbiased, simple explanation of what the […]

    Fixing A Retirement Course

    {July 6th, 2016} by Andrew Murdoch

    Indexed annuity sales are setting the market-pace, revealing some new consumer buying habits by Andrew Murdoch Mr. Murdoch, a CFP, is president of Portland, OR-based Somerset Wealth Strategies and senior vice president of market research at Annuity FYI, an online resource for potential annuity buyers. Visit somersetwealthstrategies.com A funny thing is happening in the annuity sales […]

    All you need to know about everything that matters

    {July 6th, 2016} by Jamie Johnson

    Wink took an extended holiday weekend to celebrate Independence Day; we hope you had a great holiday too! Since we want you to be the first-to-know on all of the hot and trending industry news, we delayed the newsletter until Thursday morning this week just to ensure you have the most up-to-date news.  As you know, we monitor […]

    The DOL fiduciary rule, duties to consumers, and the Best Interest Contract Exemption

    {July 6th, 2016} by American College of Financial Services

    Financial advisors affected by the U.S. Department of Labor’s (DOL) so-called Conflict of Interest Rule have many unanswered questions and plenty of concerns regarding the new regulations. However, at its core, the DOL fiduciary rule aims to protect consumers receiving retirement investment advice inside of qualified retirement plans and IRAs. Financial advisors will need to […]

    A.M. Best Assigns ICR to National Western Life Group, Inc.; Affirms Ratings of National Western Life Insurance Company

    {July 6th, 2016} by Press Release

    Press Release – JUNE 29, 2016 A.M. Best Assigns ICR to National Western Life Group, Inc.; Affirms Ratings of National Western Life Insurance Company CONTACTS:   Keith Behrmann Financial Analyst +1 908 439 2200, ext. 5733 keith.behrmann@ambest.com Thomas Rosendale Assistant Vice President +1 908 439 2200, ext. 5201 thomas.rosendale@ambest.com Christopher Sharkey Manager, Public Relations +1 […]

    MassMutual Completes Acquisition of the MetLife Premier Client Group

    {July 6th, 2016} by PR Newswire

    SPRINGFIELD, Mass., July 5, 2016 /PRNewswire/ — Massachusetts Mutual Life Insurance Company (MassMutual) announced today that its acquisition of MetLife’s U.S. retail advisor force – the MetLife Premier Client Group (MPCG) – has been completed. On Feb. 29, 2016, the companies announced they had entered into the acquisition agreement, which also includes certain MetLife employees who support […]

    MassMutual Closes on Acquisition of MetLife US Adviser Force for $165 Million

    {July 6th, 2016} by Marie Suszynski

    SPRINGFIELD, Mass. – Massachusetts Mutual Life Insurance Co. said it has completed its acquisition of MetLife’s U.S. retail adviser force, a move a company executive said makes MassMutual a “distribution powerhouse and pacesetter for the industry.” MassMutual bought MetLife Premier Client Group for a final purchase price of $165 million, net of adjustments. The deal […]

    Don’t confuse Dave Ramsey’s confidence with smarts

    {July 6th, 2016} by Michael Markey

    About a year ago, I was sitting by myself at the back of a bus filled with advisors and insurance agents. A few rows ahead of me, a guy proclaimed to the group: “I love math!” Someone else, taking up the challenge, threw out two numbers and said, “Multiply these…” Now, I’m not always a […]

    Report: life insurance policy lapse rates at a 20-year low

    {July 5th, 2016} by LifeHealthPro Editors

    Lapse rates on ordinary life insurance products, which were between 5.3 percent and 5.9 percent in 2012-2015, represent the lowest rates in nearly 20 years, according to a new report. An A.M. Best Special Report, “Anemic Yields Put Spotlight on Retention,” reveals that ordinary life persistency has been relatively steady, fluctuating between 81.1 percent and […]

    Change is coming to the field of financial advice, and it’s going to be disruptive

    {July 5th, 2016} by Marlene Y. Satter

    That’s according to the “J.D. Power 2016 U.S. Financial Advisor Satisfaction Study,” which found that traditional investment advisory services are likely to be transmogrified in a confluence of retiring advisors, the rise of the robo-advisor or automated investment-picking algorithm, and the lower fees of independent advisory shops. The study measures advisor satisfaction — both for […]

    Voya Financial to Announce Second Quarter 2016 Results on August 3

    {July 5th, 2016} by Voya

    NEW YORK, July 5, 2016 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that it will host a webcast of its second quarter 2016 earnings conference call on Wednesday, August 3, 2016 from 10 a.m. to 11 a.m. (ET). A press release containing information about the company’s financial results for the second quarter of […]

    The Fixed Annuity: It’s Like Buying a Pension

    {July 3rd, 2016} by Selena Maranjian

    Annuities can deliver (nearly) guaranteed fixed income streams that can make your retirement more secure. Learn more about them. In the old days, many people looked forward to pension income in retirement, but few private-sector companies offer pensions any more. Thus, most of us need to rely on ourselves more than ever to provide for […]

    Hearsay Social Launches Corporate-to-Local Social Media Advertising Solution – SYS

    {July 1st, 2016} by Hearsay Social

    New functionality enables enterprise marketing teams to maximize the power of Facebook advertising by efficiently deploying and managing local advisor ad campaigns at scale SAN FRANCISCO – June 30, 2016 –Hearsay Social®, provider of a Predictive Omnichannel Suite for financial advisors and word agents, announced currently a launch of a Corporate-to-local Advertising technology. With a […]

    Retirement income calculators: What to know about their projections

    {July 1st, 2016} by Nick Thornton

    Not all retirement income projection tools are the same. In fact, the modeling tools, which are becoming default features on record-keeping and retail advisory platforms, generate wildly varying interpretations of how retirement savings will translate into income when the golden years arrive. A new study from Corporate Insight, a provider of research and analytics to […]

    A conversation with the head of New York Life’s retail annuities business

    {July 1st, 2016} by Kristen Beckman

    After 15 years at New York Life, eight of which he spent working in the company’s annuities business, Dylan Huang was recently named senior managing director and head of the company’s retail annuities business. Huang’s deep experience in the annuities industry includes building retirement products available through New York Life agents and third-party advisors, including […]

    Where are all the women in financial services?

    {July 1st, 2016} by Ed McCarthy

    Women comprise only 15 to 20 percent of financial advisors in the U.S. There’s a gender gap between demographic trends and the financial advisory business. Women have an increasing share of income and wealth in the United States and globally, but they are underrepresented among financial advisors in the U.S. BMO Financial Group’s 2015 report, […]

    Looking Ahead To Fiduciary Rule: Two Advisors Tell Their Tales

    {July 1st, 2016} by Cyril Tuohy

    A year ago, financial services interest groups of every stripe pushed hard to sway Department of Labor regulators who were in the midst of drafting new conflict of interest rules governing the sales of financial products into retirement accounts. Warnings were dire. Costs to retail financial advisors would rise and cause thousands of them to […]