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Archive for September 2018


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  • What If Life Insurance Were Mandatory?

    {September 29th, 2018} by John Hilton

    CHICAGO — The law requires drivers to buy insurance to legally operate a vehicle. What if every person parenting a child under age 18 had to carry life insurance? “If life insurance were mandatory for everyone, taxes would go down,” said Patrick Bet-David Thursday at the InsuranceNewsNet 2018 Superconference. “What if we did that?” Nearly […]

    Top 10 Most Puzzling Financial Terms for Americans

    {September 28th, 2018} by Ginger Szala

    It may be shocking that only 16% of Americans have a high level of financial literacy, according to research by the TIAA Institute, but more surprising is that many don’t have a clue about what relatively simple terms, e.g. recession or annuity, mean. Realizing these lapses can prevent advisors from talking over their clients’ heads […]

    Voya Settles With Payout in First-Ever SEC Identity Cyber Theft Case

    {September 28th, 2018} by Alex Padalka

    The SEC has settled with Voya Financial Advisors to the tune of $1 million over the firm’s alleged failures to protect its clients against identity theft. And the case is the first time the regulator has enforced its Identity Theft Red Flags Rule, according to a press release from the SEC. During a six-day period in 2016, cyber fraudsters allegedly impersonated Voya […]

    New Jersey Plans Fiduciary Rule for Broker-Dealers

    {September 27th, 2018} by Bernice Napach

    New Jersey plans on instituting its own fiduciary rule for broker-dealers operating in the state. The plan “would impose a fiduciary duty on all New Jersey investment professionals, requiring them to place their clients’ interests above their own when recommending investments,” according to a press release from Gov. Phil Murphy’s office. The rule is being […]

    Reliance Standard Life to Move Headquarters to Bigger Space

    {September 27th, 2018} by Allison Bell

    Reliance Standard Life Insurance Company is preparing to move its headquarters to a bigger location in Philadelphia by the end of 2020. The company says it will be moving to a 151,000-square-foot space at 1700 Market St. in Philadelphia, from its current, 138,000-square-foot space at 2001 Market St. Reliance Standard — a company in the […]

    Legal & General America Appoints Mark Holweger as President and CEO of its Insurance Division

    {September 27th, 2018} by Legal & General

    Wednesday, September 19, 2018 Legal & General America (LGA), a top five U.S. life insurer*, today announced the appointment of Mark Holweger as President and CEO of its insurance division, which includes operating companies Banner Life Insurance Company and William Penn Life Insurance Company of New York. Holweger previously served as Executive Vice President, Distribution […]

    Is insurance ‘the wave of the future’ for advisors?

    {September 27th, 2018} by Charles Paikert

    Non-commission insurance products may be the “wave of the future” for financial advisors, says NAPFA chairman Stephen Craffen. Recommending insurance products or agents would allow advisors to work with clients “traditionally associated with brokers” and open up an “untapped market” for insurance companies, says Craffen, a partner at Stonegate Wealth Management in Oakland, New Jersey. […]

    It’s a man’s world managing money for the world’s richest families

    {September 27th, 2018} by Simone Foxman

    Men dominate the largest financial institutions globally even as their executives say they’re trying to make Wall Street more welcoming for women. The situation is even worse at family offices. Women account for 9.1% of chief executive officers and just 8.6% of chief investment officers, according to a report by UBS and researcher Campden Wealth. […]

    Fully staffed SEC could fast-track best interest regulation

    {September 27th, 2018} by Kenneth Corbin

    Now that the SEC is back with a full complement of commissioners, the regulator could move quickly to finalize the revisions to its standards of conduct and disclosure for broker-dealers and advisors. Republican Elad Roisman joined the commission earlier this month, potentially giving Chairman Jay Clayton the votes he would need to move to a final rulemaking, which could […]

    FINRA is not out to get you: New exam chief pledges consistency

    {September 27th, 2018} by Tobias Salinger

    SALT LAKE CITY —In her new role as FINRA’s executive leading examinations, Bari Havlik says she has some unique perspective from her prior job as chief compliance officer at Charles Schwab. A few members of her former team came to Schwab from the SEC, she recalls. “Once they started having to respond to regulatory inquiries, […]

    Authorities: La Cañada Flintridge couple arrested in $1 million life insurance scam

    {September 27th, 2018} by Jonah Valdez

    A couple was arrested Tuesday morning in what authorities called a life insurance scam that resulted in the theft of $1 million. Peter Muh Kim, 39, of La Cañada Flintridge, and his wife, Jin Kyung Kim, 35, were arrested and booked under  suspicion of three felony counts of grand theft and three felony counts of insurance […]

    FSI predicts SEC will issue best interest rule next year

    {September 27th, 2018} by Tobias Salinger

    SALT LAKE CITY — FSI predicts the SEC will issue its proposed Regulation Best Interest rule next year and implement it in 2020. But certain aspects of the rule remain open questions. The independent broker-dealer advocacy group’s general counsel, David Bellaire, and other experts made the forecast on a panel at the FSI Forum on […]

    Retirement Bill Would Limit ‘Stretch’ IRAs

    {September 26th, 2018} by Melanie Waddell

    A little-known provision in the bipartisan Retirement Enhancement and Savings Act (RESA) legislation includes a revenue-raising measure that would curb the tax deferral benefits of “stretch” IRAs, according to Andy Friedman of The Washington Update. Friedman writes in a recent white paper that The Family Savings Act of 2018, H.R. 6757, which incorporates many of the RESA provisions and is […]

    Life Re Giants Crowd Out Other Players: Moody’s

    {September 26th, 2018} by Allison Bell

    The size of the traditional U.S. life reinsurance market is shrinking, and so is the number of significant players in that market, according to a team of rating analysts at Moody’s Investors Service. Bob Garofalo and other analysts at Moody’s assessed the U.S. life reinsurance sector in a recent commentary. The analysts found, after looking […]

    Midland National Life Insurance Company Introduces New Premium Deposit Agreement for Single Life Indexed Universal Life Insurance Products

    {September 26th, 2018} by Midland National

    CHICAGO, Sept. 25, 2018 (GLOBE NEWSWIRE) — Midland National® Life Insurance Company announced the release of a new Premium Deposit Agreement (Agreement) feature for most single life Indexed Universal Life products. The new feature allows the policyowner to submit a lump sum and creates a Premium Deposit Account (PDA) for the purpose of automatically funding future […]

    North American Company for Life and Health Insurance Launches New Premium Deposit Agreement (PDA) for Single Life Indexed Universal Life Insurance Products

    {September 26th, 2018} by North American Company for Life and Health Insurance

    CHICAGO, Sept. 25, 2018 (GLOBE NEWSWIRE) — North American Company for Life and Health Insurance® launched a new Premium Deposit Agreement (Agreement) for most single life Indexed Universal Life products. The new feature allows the policyowner to submit a lump sum and creates a Premium Deposit Account (PDA) for the purpose of automatically funding future annual […]

    A SPIA For RIAs

    {September 26th, 2018} by Nationwide Advisory Solutions

    Nationwide Advisory Solutions Launches Industry’s First Single Premium Immediate Annuity Designed Expressly for RIAs and Fee-Based Advisors Nationwide Advisory Income℠ Helps Expand Insurance Opportunities for RIAs and Fee-Based Advisors—and Helps Solve Retirement Income Challenge for Clients They Serve Louisville, KY – September 25, 2018 – Nationwide Advisory Solutions, a leading innovator of investing solutions for […]

    Sagicor’s DTC Portal Delivers Premier Customer Experience Powered by iPipelines Resonant NB&UW and DocFast e-Delivery Solutions

    {September 26th, 2018} by Sagicor

      EXTON, PA (September 25th, 2018) – iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today reported Sagicor Life Insurance Company (Sagicor), an industry innovation leader, has deployed Resonant® New Business & Underwriting (NB&UW) and DocFast® for e-Delivery solutions to power their new Direct-to-Consumer (DTC) portal, […]

    Aegon’s US capital position to benefit significantly from merger of legal entities

    {September 26th, 2018} by Aegon

    Aegon expects a one-time benefit to capital generation of approximately USD 1 billion as a result of the merger of two legal entities. This follows changes to the existing US capital framework for variable annuities proposed by the National Association of Insurance Commissioners (NAIC). “Merging two of our US entities simplifies our legal structure, increases […]

    Brighthouse Financial Broadens its Product Lineup with Two New Fixed Annuities

    {September 25th, 2018} by Brighthouse Financial

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial (Nasdaq: BHF), one of the largest providers of annuities and life insurance in the U.S., announced today the launch of two new fixed annuity products: the BrighthouseSM Fixed Rate Annuity and BrighthouseSM Fixed Rate Annuity MVA through Brighthouse Life Insurance Company.* The updates reflect the company’s commitment to providing a tailored set of annuity […]

    Indexed annuity sales grow among wirehouses, independent broker-dealers

    {September 25th, 2018} by Greg Iacurci

    Wirehouses and independent broker-dealers have upped their sales of indexed annuities over the past few years, with a greater share of product sales coming through registered representatives at brokerage firms. Click HERE to read the full story via InvestmentNews; subscription required.    …………………………………………………………………………………………………………… Independent broker-dealers sold $2.6 billion of indexed annuities in the second quarter […]

    The Real Truth About Variable Annuities

    {September 25th, 2018} by INN Commentary

    Commentary “One of the most misunderstood investment strategies I’ve come across over the past 25 years is the variable annuity,” writes Investment Adviser Representative Craig Kirsner in a recent column on Kiplinger.com. I agree with that statement. But not for the same reasons. As a longtime insurance professional and former chief legal counsel for Charles Schwab, […]

    Finra educates examiners on broker business models to improve oversight

    {September 25th, 2018} by Mark Schoeff Jr.

    One frequent complaint brokerages have about Finra exams is that the examiners don’t understand the business. The regulator is addressing that lack of knowledge, said Bari Havlik, Finra executive vice president for membership supervision. Click HERE to read the full story via InvestmentNews; registration required.

    Strap on the Fitbit: John Hancock to sell only interactive life insurance

    {September 25th, 2018} by Suzanne Barlyn

    (Reuters) – John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that track fitness and health data through wearable devices and smartphones, the company said on Wednesday. The move by the 156-year-old insurer, owned by Canada’s Manulife Financial Corp (MFC.TO), […]

    John Hancock wants to turn life insurance into a wellness game

    {September 25th, 2018} by Julia Horowitz

    The financial services company said Wednesday that it will attach a free version of its wellness program, Vitality, to all life insurance policies. Through the program, customers can log fitness and health information with the company in exchange for discounts at places like Amazon (AMZN) and REI. For an extra $2 per month, customers receive a free Fitbit […]

    John Hancock to Build Wellness Incentives Into All Life Policies

    {September 25th, 2018} by Allison Bell

    John Hancock says it’s now sold on the idea that building wellness incentives into life insurance policies leads the insureds to take better care of themselves. The Boston-based company says it will put a wellness incentive program from Vitality into all new, and in-force, life insurance policies that the company provides. John Hancock — a unit of […]

    4 Ways Wellness Can Cost Annuity Clients a Fortune

    {September 25th, 2018} by Allison Bell

    Economists have been paying more attention to the reality that living longer than expected, and outliving retirement assets, is as serious a risk as dying early. Analysts estimate the likely effects of successful wellness and condition management efforts on people’s post-retirement finances in a new paper distributed by HealthyCapital and the Insured Retirement Institute (IR). […]

    What You Think About the Value of Life Is All Wrong

    {September 25th, 2018} by Allison Bell

    Three economists have come up with a reason why financial services professionals — and life insurers, and public health experts — have such a hard time helping people: how just about everyone measures the value of life is completely wrong. David Bauer and two colleagues make that case in a new working paper published behind a paywall […]

    Suspect Arrested in Killing of MassMutual Executive

    {September 25th, 2018} by Katherine Chiglinsky

    A suspect was arrested Sunday and charged with killing Melissa Millan, a Massachusetts Mutual Life Insurance Co. executive found dead with stab wounds on the side of a Connecticut road in 2014. William Winters Leverett, 27, was charged with one count of murder and will be arraigned in Enfield Superior Court Monday, police in Simsbury, […]

    The newest influencer on Instagram is … Goldman Sachs?

    {September 25th, 2018} by Julia Horowitz

    Food photographers and brand ambassadors, move aside: Goldman Sachs is joining Instagram. The investment bank’s official account, launching Tuesday, will feature content designed to endear the Goldman brand to a new generation. Look out for flashy graphics that will showcase company research on genetic medicine and 5G technology, along with backstage videos of notable speakers […]

    The Authentic Role an Insurer Can Play as ‘Personal-Risk Manager’

    {September 25th, 2018} by JJ Carroll

    A chronic epidemic of “non-communicable diseases” (NCDs) is sweeping the world in growing proportions.  NCDs include things like diabetes and heart disease, which are not “caught” but instead are created by factors that have a lot to do with diet and lifestyle. The fact that people’s choices are contributing to their own ill health makes the […]

    John Hancock Leaves Traditional Life Insurance Model Behind to Incentivize Longer, Healthier Lives

    {September 25th, 2018} by John Hancock Financial

    BOSTON, SEPT. 19, 2018 – Starting today, in a departure from the traditional life insurance business model, all John Hancock life insurance policies will come with Vitality – a behavior change platform that rewards customers for the everyday steps they take to live longer, healthier lives. Built on the convergence of behavioral economics and consumer technology, […]

    A Decade Later, Lehman Mess Not Fully Cleaned Up

    {September 25th, 2018} by The Denver Post

    Ten years ago, investment bank Lehman Brothers Holdings filed what would become the country’s largest and most complex bankruptcy. Its default on $613 billion in debt sent shock waves across the global economy, ushered in the worst economic downturn since the Great Depression and disrupted millions of lives. Most people have since moved on, but […]

    Insurance Companies Across the Globe Recognize Innovation Critical for Future Success

    {September 25th, 2018} by A.M. Best

    September 24, 2018 — OLDWICK, N.J.–(BUSINESS WIRE)–A significant majority of insurers understand that innovation is increasingly becoming a differentiator in the global marketplace, according to results of an A.M. Best survey of its rated entities on the subject. These survey results are part of an extensive A.M. Best special report on innovation, titled “Insurers Agree Innovation […]

    Universal Life Insurance, a 1980s Sensation, Has Backfired

    {September 25th, 2018} by Leslie Scism

    A popular insurance product of the 1980s and 1990s has come back to bite many older Americans. Universal life was a sensation when it premiered, and for some years it worked as advertised. It included both insurance and a savings account that earns income to help pay future costs and keep the premium the same. That […]

    Who Uses Annuities, Who Doesn’t?

    {September 25th, 2018} by Marlene Satter

    With so few Americans having saved enough to see them through retirement, it’s a dilemma for planners and economists alike why people are so unattracted to annuities that can provide a source of income for life. Indeed, according to a new working paper from the National Bureau of Economic Research, they can be a “valuable component” in […]

    Is The Language Of Insurance Scaring Away Potential Clients?

    {September 25th, 2018} by Cyril Tuohy

    When it comes to communication, agents generally have winning personalities and connect easily with clients. It’s the words they are using that could stand to change. In life insurance contracts, phrases like “cash surrender value,” “convertible term insurance,” “premium loan,” “non-participating,” and “yearly renewable term,” entail a heavy slog for most people. Better to leave […]

    Montes Joins BRAMCO Financial as Director of Finance

    {September 25th, 2018} by BRAMCO

    September 24, 2018 (Fairfax, Va.) BRAMCO is pleased to announce the addition of Tiffany Montes as the organization’s Director of Finance. In this role, Montes will lead all aspects of the organization’s financial management. Montes holds a master’s degree in accounting from the University of Oregon and brings eleven years of progressive experience in management […]

    30 Life and Health Professionals Under 30: Part 2

    {September 25th, 2018} by Allison Bell

    Here’s second part of the 2018 “30 Under 30″ feature. In the past, we relied mainly on a nomination campaign to round up the 30 Under 30 candidates. For the latest version, we conducted our own search for people under 30 who have been working as life agents, health agents, annuity advisors, home office staffers, and professionals […]

    Covering the Bases With Life Insurance and College Funding

    {September 24th, 2018} by Jason Wellmann

    Here, for Life Insurance Awareness Month, is an article about a use of life insurance that some financial professionals may not have thought much about. In a previous article for ThinkAdvisor, we explored the benefits of permanent life insurance and the value of adding protection to your client’s portfolio. With the bull market continuing to roar, […]

    VALIC to Run PGA Supplemental Retirement Plan

    {September 23rd, 2018} by Allison Bell

    The PGA of America has picked VALIC to run the PGA of America Golf Retirement Plus Program. VALIC will take charge of a supplemental retirement plan with about $160 million in assets and 6,500 golf professional participants. The golf pros have an average of about $25,000 in assets each in their plan accounts. Click HERE to […]

    SEC’s proposed advice rule is about as clear as mud

    {September 23rd, 2018} by InvestmentNews Editorials

    The effort by the Securities and Exchange Commission to clarify for consumers the differing standards of financial professionals could be all for naught. While we give the SEC credit for attempting to salvage some of the momentum and investor-protection aspects of the Department of Labor’s failed fiduciary rule, the current advice-reform package threatens to introduce a […]

    Insurance executives push House to add annuity provision to tax reform bill

    {September 21st, 2018} by Mark Schoeff Jr.

    Executives from major insurance firms are pushing House leaders to amend tax-reform legislation to encourage the use of annuities in company retirement plans. In a Wednesday letter to House leaders, the corporate chiefs said that they were disappointed that the Family Savings Act did not include a provision that would make it easier for employers to add annuities to […]

    Retirees: Don’t Overlook Annuities. Really.

    {September 21st, 2018} by Steven Goldberg

    Most investors have grown to hate annuities. Hate them too much, in my view. In fact, if you’ll read on, I think you’ll agree that annuities make abundant sense for many retirees. My inbox used to be flooded with offers from annuity providers: “Sell these to your clients,” the advertisements boasted, “and earn fat commissions, […]

    M Financial Makes Penn Mutual Its Primary Whole Life Supplier

    {September 21st, 2018} by Allison Bell

    The M Financial financial services distribution group has agreed to make Penn Mutual Life Insurance Company its primary whole life insurance supplier. M Financial is a Portland, Oregon-based consortium that represents 145 financial services firms. The group represents 145 member firms. Most of the member firms work mainly with affluent clients and corporations. Penn Mutual is […]

    New Research Finds Ultra-Rich Adding Wealth And Likely Needing Advice

    {September 21st, 2018} by John Hilton

    A new study finds a substantial increase in the most sought-after clients: those high-net-worth folks. A booming economy combined with generous tax cuts, courtesy of President Trump and the Republican Congress, has the affluent class increasing in numbers. Affluent households, or those with more than $100,000 income, grew by 30 percent between 2012 and 2016, […]

    Women Still Fighting Bias In Financial Services Industry

    {September 20th, 2018} by Asia Martin

    Women have managed to come close to closing the gender pay gap and they’ve proved that a career in finance is almost out there for the taking. But research suggests that they are still at a disadvantage and have to face down bias against them and their abilities. In part, the shift has come about because women […]

    The Institutes RiskBlock™ Alliance and LIMRA Announce First Blockchain Use Case for Life Insurance and Annuity Sector

    {September 20th, 2018} by The Institutes RiskBlock Alliance

    MALVERN, Pa. and WINDSOR, Conn., Sept. 20, 2018 /PRNewswire-PRWeb/ — The Institutes’ RiskBlock Alliance and LIMRA have announced the first blockchain use case for the insurance consortia’s newly formed life and annuity sector. The application, Mortality Monitor, will leverage Social Security data, other data sources and policyholder records to provide real-time notification to members of the death of life insurance […]

    Society of Actuaries Names Andrew D. Rallis as President-Elect

    {September 20th, 2018} by SOA

    Schaumburg, IL (September 14, 2018) – The Society of Actuaries (SOA) today announced the results of its member voting, with Andrew D. Rallis, FSA, MAAA, serving as 2018-2019 president-elect. Rallis will begin his duties as the 71stSOA president at the 2019 SOA Annual Meeting and Exhibit, for the 2019-2020 term. A total of 6,005 SOA members, or 25.40 […]

    New presidents named at Life Happens, MDRT

    {September 20th, 2018} by Insurance Forums Staff

    A couple of high-profile life insurance industry organizations recently announced new presidents – with one long-time exec adding to her role and another beginning his one-year term. Here’s the rundown on both developments: Faisa Stafford promoted to president of Life Happens Life Happens recently announced the promotion of Faisa Stafford, shown at left, to president […]

    Life insurance disruptors planning to make news at InsureTech Connect

    {September 20th, 2018} by Brian Anderson

    Ladder, Haven Life and Atidot are among the life insurance companies planning to announce their latest innovations during the third annual InsureTech Connect (ITC) conference in Las Vegas on Oct. 2-3. The event, which will be held at the MGM Grand Las Vegas Hotel and Casino, will bring together more than 6,000 attendees and 250 […]

    Universal life insurance lawsuits underscore product risk

    {September 20th, 2018} by Greg Iacurci

    Lawsuits filed against insurers in recent years for their practices around universal life insurance policies highlight the risks these products can pose for unwary financial advisers and clients. Click HERE to read the full story via InvestmentNews; registration required.

    Deadly Florence Forces Insurers To Close Doors, Improvise

    {September 19th, 2018} by Cyril Tuohy

    As the deluge from Hurricane Florence cuts off Carolina communities, insurers are gearing up to help agents and consumers working in affected areas. ……………………………………………………… “Natural disasters like Hurricane Florence can have devastating effects on the financial security of families and individuals,” said Lata Reddy, senior vice president of diversity, inclusion and impact and chairman of […]

    Life Insurance: The Unsung Hero

    {September 19th, 2018} by Matthew Purington

      Life insurance is the foundation of any sturdy financial plan. Before you can help your customers start tackling other goals, you should assure their loved ones are protected against the devastating costs associated with a sudden death. And while the death benefit is the most important feature of life insurance, a policy can offer […]

    Allianz Life Introduces New Excess Return Indexes

    {September 19th, 2018} by Allianz Life Insurance Company of North America

    MINNEAPOLIS, Minnesota, Sept. 18 — Allianz Life, a provider of retirement solutions, including fixed and variable annuities and life insurance for individuals, issued the following news release: To help offer clients the opportunity for a level of stability in rates and flexibility amid market volatility and changing short-term interest rates, Allianz Life Insurance Company of North America (Allianz Life(R)) […]

    Many Parents Who Want to Buy Life Insurance Freeze Up: SBLI

    {September 18th, 2018} by Allison Bell

    Many parents who want to buy life insurance, and probably could afford to pay for life insurance, fail to do so because they get stuck. Analysts at Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI) talk about the life insurance shopper deer-in-the-headlights problem in a look at data from the company’s SBLI Self-Awareness Quiz. […]

    The Spanish Flu Centennial —1918 Flu Pandemic Hit Insurers Hard

    {September 18th, 2018} by Allison Bell

    Here is an article about the 1918 Spanish Flu pandemic that appeared on March 31, 1997, in an ALM print publication, the Centennial Issue of National Underwriter. “Almost all agents have had startling experiences during the last few months of soliciting people for insurance who in a few days were stricken with the ‘flu’ and […]

    The Spanish Flu Centennial — How the 1918 Flu Pandemic Affected Prudential Agents

    {September 18th, 2018} by Allison Bell

    Life insurance agents can help their customers in many ways. One thing they can do is protect a customer’s loved ones against some of the financial impact from the customer’s sudden death. Here’s how that worked during the peak of the 1918 Spanish Flu pandemic, which began attracting attention as Americans were celebrating the end […]

    A.M. Best Comments on Credit Ratings of Western & Southern Financial Group, Inc. Following Proposed Acquisition of Gerber Life Insurance Company

    {September 18th, 2018} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has commented that the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of Western & Southern Financial Group, Inc. (WSFG) (Cincinnati, OH) is unchanged following the Sept. 17, 2018, announcement that WSFG has entered into an exclusive agreement under which it will acquire Gerber Life Insurance Company (White Plains, NY). The Long-Term […]

    A.M. Best Places Credit Ratings of Gerber Life Insurance Company Under Review With Positive Implications

    {September 18th, 2018} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has placed under review with positive implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of Gerber Life Insurance Company (Gerber Life) (White Plains, NY), following an announcement of its sale to Western & Southern Financial Group, Inc. (WSFG). Gerber Life is […]

    Millennials & Financial Literacy

    {September 18th, 2018} by TIAA Institute

    NEW YORK, Sept. 12, 2018 /PRNewswire/ — A new report, released today by the TIAA Institute and the Global Financial Literacy Excellence Center (GFLEC) at the George Washington University School of Business, found there is a financial literacy gap among millennials. The report also found that while most millennials use their smartphones to manage their […]

    Women And Hispanics Among Those Most Worried About Financial Future

    {September 18th, 2018} by Cyril Tuohy

    Women, millennials, Hispanics and caregivers are most worried about their financial future, a new survey has found. Across all the demographic segments, the most important financial goal was to have enough savings to last through retirement. That was followed by having enough to pay for future health care expenses and keeping up with current expenses, […]

    Faisa Stafford Named President of Life Happens

    {September 18th, 2018} by Life Happens

    ARLINGTON, Va., Sept. 12, 2018 /PRNewswire/ — The nonprofit Life Happens is pleased to announce the promotion of Faisa Stafford to president of the organization, effective Jan. 1, 2019. Stafford, the current COO and CFO, will continue putting her talents to work by leading the only not-for-profit organization in the insurance industry that is dedicated to educating Americans about the […]

    Conning–Growing Affluent Market Opportunity for Life Insurers

    {September 18th, 2018} by Conning

    HARTFORD, Conn., Sept. 17, 2018 /PRNewswire/ — The recent very high rate of growth of the Affluent Market is a significant opportunity for life insurers, according to a new study by Conning. “Affluent households—those with more than $100,000 income—grew by 30 percent between 2012 and 2016,” said Mary Pat Campbell, a Vice President, Insurance Research at Conning. “While still the […]

    Life Insurance Activity Static In August

    {September 18th, 2018} by MIB Life Index

    Braintree, MA — U.S. life insurance application activity held its own in the dog days of summer, flat at -0.1% year-over-year, according to the MIB Life Index. Once again application activity ages 60+ outshined all other age groups—positive for four consecutive months and showing lesser declines in months where losses occurred. August results left the composite […]

    One-Third of Americans Don’t Have an Accurate Perception of Their Finances

    {September 18th, 2018} by Prudential Financial Wellness Census

    September 17, 2018 — NEWARK, N.J.–(BUSINESS WIRE)–One-third of Americans do not have an accurate handle on the state of their own finances, thinking they are either better or worse off than they actually are, finds new research released by Prudential Financial, Inc. (NYSE: PRU). The company’s first-ever Financial Wellness Census™ also reveals a nation almost evenly […]

    Nestle to sell Gerber Life Insurance unit for $1.55 billion

    {September 18th, 2018} by Soundarya J in Bengaluru; Editing by Anil D'Silva and Maju Samuel

    (Reuters) – Nestle (NESN.S) said on Monday it would sell its Gerber Life Insurance unit to Western and Southern Financial Group for $1.55 billion in cash, helping the company to focus on its core food and beverage and consumer health businesses. Nestle, which has been seeing slowing sales due to broader consumer shift toward healthy […]

    Western & Southern Agrees to Acquire Gerber Life From Nestlé

    {September 18th, 2018} by Allison Bell

    Western & Southern Financial Group has agreed to a $1.55 billion deal with Nestlé S.A. that could bring ownership of Gerber Life Insurance Company back to the United States for the first time since 1994. Western & Southern says the deal would include a long-term license to use Gerber Life intellectual property in connection with financial […]

    Prudential Names Lowrey Next CEO, and Falzon Vice Chair

    {September 18th, 2018} by Allison Bell

    The board of Prudential Financial Inc. has picked the head of its non-U.S. operations, rather than a manager of the U.S. operations, to be the company’s next leader. The company says Charles Lowrey will take over from John Strangfeld as the company’s chief executive officer Dec. 1, and as the company’s next chairman April 5, […]

    30 Life and Health Professionals Under 30: Part 1

    {September 18th, 2018} by Allison Bell

    We’re back with a new version of our annual “30 Under 30″ feature. In the past, we relied mainly on a nomination campaign to round up the 30 Under 30 candidates. This year, we tried a new approach: looking on our own for people under 30 who have been working as life agents, health agents, […]

    Why Annuity Guarantee Issuers Might Leak. Some

    {September 18th, 2018} by Allison Bell

    Economists are still trying to understand how, and why, issuers of life and annuity benefits guarantees might break in a crisis. Gabriel Chodorow-Reich, an economist at Harvard, and two colleagues, talk about life insurer failure problems in a new working paper posted earlier this month behind a paywall, on the website of the National Bureau […]

    Penn Mutual Life Insurance Company And M Financial Group Announce New Strategic Relationship

    {September 18th, 2018} by M Financial Group

    HORSHAM, Pa.–(BUSINESS WIRE)–The Penn Mutual Life Insurance Company (Penn Mutual) and M Financial Group (M Financial), a collaborative network of independent firms headquartered in Portland, Oregon, are pleased to announce a new specialty carrier relationship that will make Penn Mutual the primary provider of whole life insurance for M Financial. M Financial is one of […]

    Iowa Top Workplaces

    {September 18th, 2018} by The Des Moines Register

    The Des Moines Register has recognized 150 Companies and Organizations in Iowa as Top Workplaces for 2018. These companies have been recognized based solely on surveys about the workplace completed by their employees. Companies must have 35 or more employees to participate.  Congratulations to the Iowa companies in the Financial Services & Insurance Sector! Click […]

    AXA Equitable Life Names Aaron Sarfatti Chief Risk Officer

    {September 18th, 2018} by AXA Equitable Holdings, Inc.

    NEW YORK–(BUSINESS WIRE)–AXA Equitable Life, a unit of AXA Equitable Holdings, Inc. (NYSE: EQH), a leading financial services company, today announced the promotion of Aaron Sarfatti to Chief Risk Officer, effective October 1, 2018. He succeeds Jurgen Schwering, who after four years as Chief Risk Officer of AXA Equitable Life, has announced his intention to pursue new opportunities […]

    Danica Patrick has learned life lessons in the fast lane

    {September 18th, 2018} by Chris Taylor

    NEW YORK (Reuters) – If you ever wonder what it’s like to be a woman in a man’s world, just consult the planet’s leading authority on the matter: Danica Patrick. Racecar driving is a famously male-dominated arena, but that did not seem to unnerve Patrick as she developed into a champion racer and the most […]

    Jackson To Offer Annuities On Envestnet Insurance Exchange

    {September 18th, 2018} by Jackson National Life Insurance Company

    LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced that it will offer its complete product suite of advisory annuities on the Envestnet Insurance Exchange, including Perspective Advisory II, Elite Access Advisory and MarketProtector Advisory. The new collaboration brings together a leading provider of annuities in the U.S. with a leading provider of intelligent systems […]

    AIG Announces Reduced Rates for Select-a-Term Life Insurance

    {September 18th, 2018} by AIG

    Press Release AIG 175 Water Street New York, NY 10038 www.aig.com   Contact: Brent Connett (Media), 713-831-6414;brent.connett@aig.com   AIG Announces Reduced Rates for Select-a-Term Life Insurance During Life Insurance Awareness Month, protection gets even more affordable                 HOUSTON – September 18, 2018 – American International Group, Inc. (NYSE: AIG), a leader in the term life […]

    SEC advice rule contains a huge hole

    {September 18th, 2018} by Mark Schoeff Jr.

    The SEC’s new advice reform package contains a huge hole. While some brokers will be forbidden to use the title financial adviser or advisor, another few hundred thousand will still be able to do so.  Click HERE to read the full story via InvestmentNews; registration required.

    Fixed annuities are on a tear

    {September 18th, 2018} by Greg Iacurci

    Fixed annuities have been on a tear this year, with sales seeing double-digit growth across several product categories amid rising interest rates and easing regulatory pressure. Click HERE to read the full story via InvestmentNews; registration required.     At the close of 2015, right around the time the Fed began its shift from rock-bottom […]

    Once Upon a Time, 10 People Retired…

    {September 18th, 2018} by Allison Bell

    Jackson National Life Insurance Company is trying to use the power of storytelling to help prospects understand what retirement might be like, and why they have to plan for retirement. The Lansing, Michigan-based company has worked with Fred Siegel, a photographer, to create “Second Stories.” “Second Stories” is a photo essay about how 10 retired […]

    Group Blasts SEC’s Proposed Whistleblower Changes

    {September 18th, 2018} by Elizabeth Festa

    A major whistleblower advocacy group urged the Securities and Exchange Commission Monday to extend public comment period on the agency’s planned changes to its whistleblower program so that it can glean more information on what the group says are “radically anti-whistleblower” positions in the SEC’s plan that mirror U.S. Chamber of Commerce views. The comment period […]

    Lincoln Financial Group’s Lucy Gase Receives 2018 “Women Worth Watching” Award from Profiles in Diversity Journal

    {September 18th, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today that Lucy Gase, recently named senior vice president, head of Administrative Services and Strategic Support Services, has been recognized by Profiles in Diversity Journal as one of their 2018 “Women Worth Watching.” The prestigious award is given annually to women who exemplify leadership, achievement and innovation. Gase was […]

    Athene Launches New “Game Changers” Campaign for Fall 2018

    {September 17th, 2018} by Athene Holding Ltd.

    PEMBROKE, Bermuda–(BUSINESS WIRE)–Sep 17, 2018–Athene Holding Ltd. (“Athene”) (NYSE: ATH), a leading provider of retirement savings products, announced its fall 2018 brand campaign today. “At Athene, we are ‘Driven to Do More’ in all aspects of our work, and this campaign reflects our commitment to that ethos,” said Rodney Branch, Chief Marketing Officer of Athene. […]

    Will Other Smaller VA Sellers Follow Ohio National?

    {September 17th, 2018} by Cyril Tuohy

    In the end, Ohio National just wasn’t big enough to prevail in the new variable annuity world, one that requires size and scale if VA books are to remain profitable. After years of shrinking sales, interest rates that are still low and intentional “derisking,” which has dulled the sheen of a once popular product, the […]

    That Very Bad Monday At Lehman Brothers

    {September 15th, 2018} by Cyril Tuohy

    Renilde Zug left her investment bank in Manhattan for a three-month paid maternity leave on June 27, 2008. Her firm was Lehman Brothers. Her return date was Sept. 15. That was the morning Lehman filed for the largest bankruptcy in Wall Street history, becoming one of the biggest institutions lost in the financial crisis that […]

    15 Most Competitive World Financial Hubs

    {September 14th, 2018} by Michael Fischer

    London got bumped out of the top spot on the 24th Global Financial Centers Index, published Wednesday by Z/Yen Partners and the China Development Institute, think tanks based in London and Shenzhen. London had reigned over the index since 2015, but uncertainty about the future shape of Brexit likely contributed to its come-down. Click HERE to read the […]

    Survey: Insurers Need To Get Digital With It

    {September 13th, 2018} by John Hilton

    Nearly one-quarter of respondents to a Deloitte Insights study would buy life insurance through digital channels. Yet, only 11 percent reported doing so. That gap might help explain why life insurance ownership is at a 50-year low. Deloitte surveyed more than 1,600 middle-market consumers on both their attitudes toward life insurance as well as their […]

    Prudential Financial Announces Leadership Succession Plan; CEO to Retire

    {September 13th, 2018} by David Pilla

    NEWARK, N.J. – Charles Lowrey will be the next chief executive officer of Prudential Financial Inc. as the company announced John Strangfeld will retire as CEO on Nov. 30. Lowrey will also become a member of the board of directors effective Dec. 1, Prudential said in a statement. Lowrey is currently executive vice president and […]

    Why Merrill Lynch Still Excludes Commission-Based Annuities from IRA Accounts

    {September 12th, 2018} by Alex Padalka

    Following a recent reversal on its prohibition of commission-based products in individual retirement accounts, Merrill Lynch nonetheless kept commission-based annuities out of IRA options, InvestmentNews writes. While some experts say the complex product necessitates more diligent care, not everyone agrees, according to the publication. Last month the wirehouse reversed its ban on commission-based products in IRAs. The ban had […]

    Merrill Lynch takes two avenues with annuity commissions

    {September 12th, 2018} by Greg Iacurci

    When Merrill Lynch recently decided to reverse its ban on commissions in individual retirement accounts, it did so for all products with one exception: annuities. Click HERE to read the full story via InvestmentNews; registration required.      However, not everyone is convinced by Merrill’s logic. “It doesn’t hold water with me,” said Sheryl Moore, […]

    Death of DOL Fiduciary Rule Is a Boon to Investment Cos.: Study

    {September 12th, 2018} by Melanie Waddell

    Editor’s note: This article first appeared in Human Capital, a newsletter by Washington Bureau Chief Melanie Waddell about the people who shape the financial regulatory space. While the industry is weighing in on — and in many cases still digesting — the Securities and Exchange Commission’s advice standards package, academics are reviewing the upside and […]

    3 Life Awareness Month Infographic Strategies

    {September 12th, 2018} by Allison Bell

    The current Life Insurance Awareness Month (LIAM) campaign creates an interesting natural experiment for agents and brokers: a chance to see how different market players respond, at roughly the same time, to the same marketing challenge. In this case, the challenge is: How to get consumers, employers and society as a whole to think more […]

    Americans Say Life Insurance Discounts Would Motivate Them to Stay Healthy

    {September 12th, 2018} by Global Atlantic Financial Group

    Survey: Majority of consumers likely to maintain weight level and get regular check-ups if offered premium discounts Millennials were more likely than older age groups; Individuals with household incomes of $50,000 per year or more would be more likely than those with lower incomes September 05, 2018 — DES MOINES, Iowa–(BUSINESS WIRE)–Insurance discounts can be a powerful […]

    Index Annuities Poised To Steal The Spotlight From Variable Annuities

    {September 12th, 2018} by Cyril Tuohy

    Sales of fast-growing index annuities could eat into the VA market’s recovery, a Morningstar analyst said recently. Regulatory relief and the Trump administration have provided a welcome tailwind for VA sales, which finally ended their long sales slide with a slight sales uptick in the second quarter. Click HERE to read the full story via […]

    United Life Launches New Product with Guarantees and Living Benefits

    {September 12th, 2018} by United Life Insurance Company

    United Life Insurance Company released a new life insurance product that provides guaranteed benefits, cash values and living benefits once approved. This type of financial planning tool is growing in popularity, as it transforms idle dollars into an increased financial legacy that is paid to beneficiaries on a tax-free basis at the time of the […]

    Life insurance is not for saving: BLOG

    {September 11th, 2018} by Blair duQuesnay

    Stop buying life insurance as a savings strategy. Stop buying it as a tax-deferral vehicle for retirement savings. Stop spending thousands of dollars a month on life insurance premiums, at least until you read the rest of this column. Click HERE to read the full story via InvestmentNews; registration required.

    Variable Annuities Are Neglected Assets

    {September 11th, 2018} by Milind M. Lee

    In the scramble for new business, too many advisors and broker/dealers are ignoring a giant asset right in their backyard: their portfolio of variable annuity (VA) contracts. A successful advisor who made 20 to 30 VA sales over the past decade will have a portfolio of 150 to 300 contracts and could generate $20,000+ a year […]

    The 5 States Where Death Is Most Unfair

    {September 11th, 2018} by Allison Bell

    The federal Centers for Disease Control and Prevention (CDC) has just published a batch of data that will keep annuity actuaries busy for months: estimates of life expectancy for U.S. census tracts. Analysts at the CDC’s National Center for Health Statistics based the report on data collected from 2010 through 2015. The report includes data from […]


    {September 11th, 2018} by NCOIL

    Manasquan, NJ – NCOIL highlights September as Life Insurance Awareness Month. This campaign takes place each September to highlight the importance of life insurance and the role it plays in protecting financial security in the event of a family tragedy.   “As legislators, it is our primary responsibility that we work to protect consumers, and […]

    Ohio National exits annuity market, shifts to exclusive focus on life and disability income lines

    {September 11th, 2018} by Brian Anderson

    Ohio National Financial Services will exclusively focus on growing its life and disability income insurance product lines going forward, deciding to exit the annuity business and significantly reduce its workforce in the process. The decision, announced Sept. 6, follows a comprehensive strategic review of Cincinnati-based Ohio National’s businesses, taking into account the continuously changing regulatory […]

    Lincoln Financial Group Partners with Market Synergy Group to Launch Lincoln Retirement Safeguard

    {September 11th, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today a new partnership with Market Synergy Group – a company that specializes in annuity product design – to launch the Lincoln Retirement SafeguardSM fixed indexed annuity. Lincoln Retirement SafeguardSM is a proprietary solution designed to help consumers protect what they’ve accumulated and grow their income to help satisfy their financial […]

    Ladenburg buys insurance distributor for $7.2M, Securities America adds OSJ

    {September 11th, 2018} by Tobias Salinger

    Ladenburg Thalmann’s annuity distribution unit acquired a new division, best known for fixed-index products and its selling agreements covering 3,000 financial advisors. The firm’s founding family sold its insurance distribution company but held on to its office of supervisory jurisdiction under Ladenburg’s Securities America. The parent firm of five independent broker-dealers agreed to buy certain […]

    September 11 and Life Insurance Awareness Month

    {September 11th, 2018} by Allison Bell

    Today is the 17th anniversary of the terrorist attacks on the World Trade Center in New York, and on the Pentagon in Washington, D.C. It’s also Life Insurance Awareness Month. One way to observe the day is to reflect solemnly on what happened during the attacks, and on ideas to prevent anything like that from […]

    Symetra Completes Reinsurance Transaction with Resolution Re

    {September 11th, 2018} by Symetra Life Insurance Company

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company announced today that it has entered into a reinsurance agreement with Resolution Re that transfers financial responsibility for all of Symetra’s structured settlement annuity contracts and a smaller block of income annuities to Resolution Re. The reinsured block had $5.7 billion in total statutory reserves at Dec. 31, 2017. […]

    Lincoln Financial Adds Indexed Annuity

    {September 11th, 2018} by Allison Bell

    Lincoln Financial Group has teamed up with Market Synergy Group to introduce a new indexed annuity, the Lincoln Retirement Safeguard contract. Lincoln Financial’s Lincoln National Life Insurance Company unit will write the annuity. Market Synergy — an annuity design firm based in Topeka, Kansas — designed the annuity, and Lincoln Financial will offer the annuity through independent […]

    Should You Go For Riders In Life Insurance?

    {September 11th, 2018} by Justin Weinger

    The benefits of buying a life insurance policy are not unknown. The life insurance policy offers protection to your family when you are not there. There are also many life insurance policies that you can buy for investment purposes along with life cover. A life insurance is a necessity for those who have dependent like old parents, […]

    Surviving 9/11: How advisors have helped clients impacted by tragedy

    {September 11th, 2018} by Amanda Schiavo

    The emotional loss after the unprecedented terror attacks of 9/11, 17 years ago Tuesday, was unlike anything experienced by this generation of Americans. There was an outpouring of financial support after 2,753 people were killed in New York, 184 in Washington and 40 in Pennsylvania, and funds sprang up to help support the victims and […]

    The struggle is real: Why our profession needs next-gen talent now

    {September 10th, 2018} by Ron Carson

    The ground is shifting beneath our feet. The problem is, we look down to see the ground cracking while remaining completely oblivious to what’s overhead: A new atmosphere. A changed environment. An unrecognizable future. Click HERE to read the full story via InvestmentNews; registration required.

    Kitces: Why it pays to specialize

    {September 10th, 2018} by Michael Kitces

    Finding ways to differentiate yourself amid a sea of people who call themselves advisors has never been easy. For newer advisors trying to get noticed within their firms — and get opportunities for client face time — the problem feels particularly acute. That’s why, more than ever, niches and mini-specializations are becoming effective differentiation tools. […]

    The Top 10 Life Insurance YouTube Videos of the Year

    {September 10th, 2018} by Allison Bell

    As of Aug. 17, one YouTube video posted in 2018, Nicky Jam’s X, had already attracted 1.2 billion views. The 10 most-watched YouTube life insurance videos posted within the past year have attracted a combined total of just 64 million views. But life insurers, financial advisory firms, financial services shopping sites are out there fighting the good fight, […]

    AAA: Third of Georgians without life insurance

    {September 9th, 2018} by Albany Herald

    Sept. 08–ATLANTA — Most people do not like to think about their mortality, but in order to have a more secure financial future for their families, having a plan in place for the inevitable is essential. According to a recent AAA Consumer Pulse survey, just under one-third (32 percent) of Georgia residents do not have a life insurance policy. “Life […]

    Ohio National, a big variable annuity provider, exits the annuity business

    {September 8th, 2018} by Greg Iacurci

    Ohio National Financial Services Inc., among the top 20 sellers of variable annuities, is quitting the annuity business and is simultaneously laying off 300 employees, signaling the challenges of the variable annuity market in recent years. Click HERE to read the full story via InvestmentNews; registration required. 

    Life Insurance And The Familial Risk

    {September 8th, 2018} by Unum Group

    CHATTANOOGA, Tenn. (Sept. 4, 2018) — Employee benefits provider Unum (NYSE: UNM) finds that nearly half (45 percent) of 25-34-year-olds reported feeling stressed or worried when thinking about life insurance, compared to just 29 percent of those 35-49. Women were significantly more anxiety-ridden about life insurance, with 37 percent reporting feeling stressed or worried compared […]

    Competitors In Line To Profit From Ohio National Dropping Annuities

    {September 8th, 2018} by Cyril Tuohy

    Several competitors stand to gain from Ohio National’s sudden decision to leave the annuity and retirement plans markets, one analyst said Thursday. The Cincinnati-based company will stop accepting all annuity applications and applications for 401(k) and 403(b) retirement plans beginning Sept. 15. “While we are no longer selling new annuities or retirement plans, we will continue to […]

    NAIC Sets Meeting To Finalize Best Interest Rule For Annuities

    {September 8th, 2018} by John Hilton

    A National Association of Insurance Commissioners’ working group will meet next month in Chicago for two days in hopes of finalizing a best-interest standard for annuity sales. The Annuity Suitability Working Group plans a repeat of its May 31-June 1 meeting in Kansas City, this time Oct. 22-23 in the windy city. Meeting for a […]

    Ladenburg Adds Kestler Annuity Business

    {September 7th, 2018} by Janet Levaux

    Ladenburg Thalmann — which owns Securities America and four other independent advisor broker-dealers — says its annuity unit has acquired assets and the brand of Kestler Financial Group’s insurance distribution business. The firm expects the deal to benefit both Ladenburg Thalmann Annuity Insurance Services and sister firm Highland C apital Brokerage. Kestler has selling agreements […]

    A-CAP and Saybrus Partners Launch New Thematic Indexed Annuity Based on the Goldman Sachs Motif Aging of America Dynamic Balance Index

    {September 7th, 2018} by A-CAP and Saybrus Partners

    NEW YORK–(BUSINESS WIRE)–A-CAP and Saybrus Partners today announced the launch of Retirement Plus Multiplier Annuity, a single premium fixed indexed annuity. The annuity is the latest addition to a wide breadth of products issued by two of A-CAP’s insurance subsidiaries, Sentinel Security Life Insurance Company and Atlantic Coast Life Insurance Company. The product is available […]

    Prudential launches consumer-direct insurance, investing service

    {September 6th, 2018} by Reuters Contributor

    September 6, 2018 Prudential Financial Inc is going straight to consumers with its insurance and investment products for the first time in its 143-year history, a move that follows rivals and startups which are already well established in the field. The direct-to-consumer service marks a sea change for Newark, New Jersey-based Prudential, the largest U.S. […]

    Debt, Life Insurance And The Age/Gender Gap

    {September 6th, 2018} by Unum Group

    September 04, 2018 — CHATTANOOGA, Tenn. (Sept. 4, 2018) — Employee benefits provider Unum (NYSE: UNM) finds that nearly half (45 percent) of 25-34-year-olds reported feeling stressed or worried when thinking about life insurance, compared to just 29 percent of those 35-49. Women were significantly more anxiety-ridden about life insurance, with 37 percent reporting feeling […]

    Ohio National makes huge strategy shift, cuts hundreds of jobs

    {September 6th, 2018} by Steve Watkins

    Ohio National Financial Services is making one of the biggest strategic shifts in its history to focus on its strongest areas of life and disability income insurance while dropping new business in other segments and cutting hundreds of jobs. Montgomery-based Ohio National is in turn opting to quit taking applications for annuities or new retirement […]

    Ohio National announces plan to exclusively focus on life and disability income insurance businesses to drive long-term growth

    {September 6th, 2018} by The Ohio National

    Cincinnati — Decision follows comprehensive strategic review of changing market conditions, growth opportunities and competitive strengths Will no longer issue annuities or offer new retirement plans, while continuing to service and support existing clients in both businesses Increased organizational agility and laser-focused business mix enables greater long-term financial flexibility to invest in growth opportunities Ohio […]


    {September 6th, 2018} by Ladenburg Thalmann Financial Services Inc

    Acquisition Reinforces LTAIS’ Efforts to Align Annuity Solutions with Independent Firms and Advisors Across the Country   Birmingham, AL – September 5, 2018 – Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTSL, LTS PrA, LTSF, LTSK) (“Ladenburg”), a publicly-traded, diversified financial services company, announced today that its Ladenburg Thalmann Annuity Insurance Services LLC (“LTAIS”) […]

    One Type of Individual Life Policy Escaped the Spring Sales Blahs

    {September 6th, 2018} by Allison Bell

    Insurers have reported dull U.S. individual life sales in the second quarter, but sales of indexed universal life (IUL) policies sparkled. Insurers have also reported solid growth in the number of variable universal life (VUL) policies sold, but the average amount of annualized premiums per new VUL policy sold fell about 5%. LIMRA has published one […]

    The 3 Major Changes In Trump’s Retirement Executive Order

    {September 6th, 2018} by Matt Carey

    Saving for and spending in retirement is difficult and not every employee has access through their employer. But it might be about to get just a little bit easier and access may expand. Last Friday, President Trump signed an executive order that spurs the Department of Labor and the Department of Treasury to push forward several bipartisan […]

    LIAM 2018: #TakeThePledge and more resources to promote awareness

    {September 6th, 2018} by Brian Anderson

    Industry nonprofit Life Happens, the official sponsor of Life Insurance Awareness Month, is asking people to #TakeThePledge this September to put loved ones first on life’s journey. The journey to financial fitness means different things to different people. And that’s the way it should be, Life Happens says. But it can also seem overwhelming, looking down the […]

    State Raising Awareness of Unclaimed Life Insurance Money in Tennessee

    {September 6th, 2018} by Jason Lamb

    NASHVILLE, Tenn. – Could you be owed your part of more than $7 million in Tennessee? It’s money that’s there for the taking, meant to help family members move on after a loved ones death, but in many cases it just sits there — forgotten.  Click HERE to read the full story via NewsChannel5

    Montgomery’s Ohio National cuts 300 jobs in strategy shift

    {September 5th, 2018} by Dan Monk

    MONTGOMERY, Ohio – Ohio National Financial Services Inc. is eliminating 300 jobs as it exits the annuity and retirement business. Starting Sept. 15, the company said it will focus on life and disability insurance, after a strategic review determined those product lines offered better growth prospects for the company going forward. In addition to focusing on its […]

    SEC Is Back at Full Strength With Five Members

    {September 5th, 2018} by Dave Michaels

    WASHINGTON—The Senate confirmed Elad Roisman to join the Securities and Exchange Commission, giving the regulator a fifth and final member as it prepares to impose restrictions on stockbroker advice while loosening the reins on some public companies. Mr. Roisman, 37 years old, will join the SEC after working for several years on the Senate Banking […]


    {September 5th, 2018} by Wink's RockStars

    Wink’s LifeSpecs analysis tool provides an up-to-date view of the indexed universal life, indexed whole life, traditional universal life, traditional whole life, and interest-sensitive whole life being launched and retired on a monthly basis so you can quickly view trends in product development. LifeSpecs’ What’s New section will default to the last three months and […]

    WHAT’S NEW IN ANNUITIES: August 2018

    {September 5th, 2018} by Wink's RockStars

    Wink’s AnnuitySpecs analysis provides an up-to-date view of the traditional fixed, multi‐year guaranteed, indexed, structured, and variable annuities being launched and retired on a monthly basis so you can quickly view trends in product development. AnnuitySpecs’ “What’s New” section will default to the last three months and one can view historical data in quarterly intervals. […]

    Danica Patrick Returns as Life Insurance Awareness Month Spokesperson

    {September 4th, 2018} by Allison Bell

    Danica Patrick — the most successful female driver in the history of racing — is returning this month as the spokesperson for the Life Insurance Awareness Month campaign. Life Happens will be offering awareness campaign materials featuring Patrick on its website through the end of the year, as it promotes a new “financial journey” theme. Patrick […]

    LIAM 2018: New survey finds most life insurance owners are optimists

    {September 4th, 2018} by Brian Anderson

    New consumer research insights from American International Group, Inc. (AIG) released in late August reveal that 56% of life insurance owners are optimists, while only 48% of people who don’t have life insurance are optimists. AIG also found that only 53% of U.S. consumers ages 21-64 own life insurance. For purposes of the research, optimists […]

    2Q Indexed Life Sales Rocket To Near Record Highs

    {September 4th, 2018} by INN Exclusives

    “This was the second-highest quarter ever for indexed life insurance sales,” said Sheryl J. Moore, president and CEO of both Moore Market Intelligence and Wink, Inc. “If you thought the close of last year’s sales were impressive, you need to see the products that are being sold today— they are definitely going to drive us […]

    Nationwide® No-Lapse Guarantee Universal Life (UL) II Now Provides Optional Return of Premium

    {September 4th, 2018} by Nationwide

    COLUMBUS, Ohio –Advisors looking for flexible life insurance products that offer clients affordable, guaranteed protection that can be customized to meet their specific needs now have more options. Nationwide announced today that Nationwide® No-Lapse Guarantee Universal Life (UL) II, a universal life product, now provides an optional return of premium feature that allows clients an […]

    Demand for life insurance outpaces supply

    {September 4th, 2018} by Scott Wooldridge

    A new survey finds that employees are interested in buying life insurance as a voluntary benefit, but many don’t—because their employers don’t offer it. The survey, conducted online by The Harris Poll on behalf of insurance group OneAmerica, polled more than 2,000 U.S. adults 18 years or older, among whom more than 1,000 are employed […]

    How to Help Prospects ‘Get’ Life Insurance

    {September 4th, 2018} by Jerry Cohen

    Here’s an article to help you get in the right frame of mind for Life Insurance Awareness Month. For many people who write life insurance, the task is not that easy. The way I see it, we’re up against at least four big obstacles: People would prefer not to think about their own demise. They […]

    Marvin Feldman Needs You: Life Insurance Awareness Month

    {September 4th, 2018} by Allison Bell

    Marvin Feldman, president of Life Happens, is back with the 16th annual Life Insurance Awareness Month campaign, and he needs your help. Interest rates may be rising but are still low. Pressure on life insures is high. And tens of millions of Americans still need help with getting their finances in order, including help with […]

    Trump Executive Order Leaves Life Insurers Hungry for More

    {September 4th, 2018} by Allison Bell

    Life insurers are welcoming President Donald Trump’s new retirement security executive order — and hoping Congress will follow up by passing S. 2526, the Retirement Enhancement and Savings Act (RESA) bill. S. 2526 includes a fiduciary safe harbor provision that could help life insurers increase sales of savings annuitization products to retirement plan participants. Susan Greenwell, a […]

    Global Atlantic Updates Its Indexed Annuities

    {September 4th, 2018} by Allison Bell

    Global Atlantic Financial Group Ltd. says it has updated its indexed annuity products. The company writes the annuities through its Forethought Life Insurance Company subsidiary. Click HERE to read the original story via ThinkAdvisor. One change could help a holder with health problems pull income from an annuity more easily, Global Atlantic says. Global Atlantic […]

    Getting the Good Leads can be Harder for Women FAs … Here’s Why

    {September 4th, 2018} by Garrett Keyes

    Discrimination against minority advisors — whether by race, gender or any other delineation — can take a variety of forms, many lawyers argue. But while certain discriminatory actions may be perfectly obvious, some are harder to identify than others, says at least one advocate of equal protections for all advisors. Plaintiff lawyer Lawrence Schaefer of Schaefer Halleen specializes in […]

    Ken Fisher, famous annuity hater, invested in annuity companies

    {September 4th, 2018} by Greg Iacurci

    Mr. Fisher’s company formerly held tens of millions of dollars in the stock of major companies selling indexed and variable annuities   Ken Fisher, founder and executive chairman of Fisher Investments, has been an ardent critic of annuities for years.  Click HERE to read the full story via InvestmentNews; registration required.    “Does he really […]

    Global Atlantic Helps Combat Growing Retirement Challenges with Revamped Annuity Suite

    {September 4th, 2018} by Global Atlantic Financial Group

    INDIANAPOLIS–(BUSINESS WIRE)–Global Atlantic Financial Group has overhauled its entire suite of fixed index annuities, enhancing both income and death benefit options for those planning for retirement. Options offer guaranteed growth of benefits and are immune to market volatility. “Our new annuity products offer benefits that support our continued focus on strategies to help customers save for […]

    Become a part of the WEFI family!

    {September 2nd, 2018} by Leticia Santiago

    Simi Valley, California — Life & Annuity Masters (LAAM), a national insurance marketing organization, has launched the organization Women Empowering Financial Independence (WEFI). WEFI, a nationwide, woman-owned and operated organization based in Simi Valley, California, is dedicated exclusively to helping women succeed in the insurance and financial services industry. Reinventing the way, the insurance and […]

    Big I New York Has ‘Concerns’ With State’s Best Interest Reg

    {September 1st, 2018} by The Business Journal, Central New York

    The group that describes itself as the state’s largest insurance-producer trade association says it stih has “concerns” about the state’s final regulation of a standard for those selling life insurance and annuity products in New York. DeWitt-based Big I New York on July 19 reacted to the New York State Department of Financial Services (DFS) […]

    The Retirement Planning Challenges In Age-Gap Relationships

    {September 1st, 2018} by Forbes Contributor

    Bogie and Bacall, Michael Douglas and Catherine Zeta-Jones, Robin Wright and Clement Giraudet – A list actors with one other thing in common: they are all in age-gap marriages. In fact, Zeta-Jones set Instagram trending recently with a picture of the moment she met her husband Michael Douglas at the Deauville Film Festival. In the […]