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Archive for December 2018


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  • WHAT’S NEW IN ANNUITIES: December 2018

    {December 31st, 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. AnnuitySpecs […]


    {December 31st, 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 […]

    Investors Might Be Paying Too Much for These Index Funds

    {December 28th, 2018} by Daren Fonda

    Investors might think index funds are a great way to capture market returns. Most index funds charge practically nothing: One of the largest, Vanguard Total Stock, charges just 0.04% a year; the average stock index fund’s expense ratio is down to 0.09%, less than a dime for every $100 invested. That has dropped from 0.27% […]

    Prudential Looks at LGBTQ Financial Wellness

    {December 27th, 2018} by Michael S. Fischer

    Both men and women in the LGBTQ community tend to earn less than the general population, but LGBTQ women are often more confident than their male counterparts that they will meet their financial goals, according to research by Prudential. The report, which also looks at women, black Americans, Asian-Americans, Latino-Americans and caregivers, builds on Prudential’s 2018 financial wellness […]

    Genworth Gets Major Regulatory Approvals for China Oceanwide Deal

    {December 26th, 2018} by Allison Bell

    Genworth Financial Inc. is now much closer to becoming part of China Oceanwide Holdings Group Co. Ltd. The Richmond, Virginia-based insurer says it has received approvals for the $2.7 billion China Oceanwide deal from several major regulatory agencies. Genworth was a major player in the U.S. life and annuity markets. It continues to sell some […]

    New Year, New Annuity Options For Your Clients

    {December 26th, 2018} by Chris Conklin

    “New year, new me” is a common phrase heard around the holidays. As New Year’s Eve approaches, we start thinking about the past year and what the future could bring both personally and professionally. This spirit of improvement is often tied to financial resolutions.  Click HERE to read the full story via INN; subscription required. 

    Deloitte’s 2019 Insurance Agent Outlook: ‘Stay Optimistic’

    {December 26th, 2018} by Susan Rupe

    Consumers may go online to get information about life insurance, but advice from an agent is still a big part of the insurance-buying process. That was the word from Deloitte’s annual Insurance Industry Outlook for 2019. “We found that consumers want to do self-directed research when they are interested in buying life insurance. Click HERE […]

    3 Predictions For RIAs And Fee-Based Advisors In 2019

    {December 26th, 2018} by Craig Hawley

    Looking back, 2018 was another year of the unexpected and unprecedented. Lawmakers at home and abroad dominated the headlines, impacting markets and portfolios, and raising concerns of advisors and investors alike. Regulatory reforms, technological innovation and the power of consumer demand transformed the way registered investment advisors and fee-based advisors served their clients and managed […]

    5 New Questions About Life and Annuity Deals in 2019

    {December 25th, 2018} by Allison Bell

    The flow of mergers and acquisitions was slow in the life and annuity sector in the first half of 2018. Life and annuity issuers announced deals with a total value of $3.7 billion in the first half, according to Deloitte’s 2019 industry outlook report. The total value was 79% higher than in the first half of 2017. […]

    Welcoming 2019!

    {December 23rd, 2018} by Jamie Johnson

    Wink will be closed January 1st, 2019 in observance of the New Year holiday.  Designed by Freepik   We are very excited about continuing enhancements to our analysis tools and sales report in 2019 such as:  Launching our illustration benchmarking tool. Tracking sales of variable annuities. WOW!  Contact us for details and stay tuned for much […]

    Sammons Financial Group bringing 200 new jobs to West Des Moines with new headquarters

    {December 23rd, 2018} by Kevin Hardy and Kim Norvell

    Sammons Financial Group will bring 200 new jobs to West Des Moines as it builds a new corporate headquarters near Jordan Creek Town Center. The company is expected to spend some $60 million on the project, which will receive more than $19 million in state and local economic development incentives, said Clyde Evans, community and economic development […]

    Vantis Life Installs New CEO

    {December 23rd, 2018} by Vantis Life Insurance Company

    WINDSOR, Conn.–(BUSINESS WIRE)–Vantis Life Insurance Company, an industry-leading life insurance provider for mass market consumers, will inaugurate its new Chairman and CEO Ray Caucci on Jan. 2, 2019. Accordingly, Vantis Life Executive Vice President and Chief Operating Officer (COO) Scott Smith will be promoted to President and COO. Caucci succeeds Peter Tedone, who will retire […]

    AM Best Affirms Credit Ratings of Western & Southern Financial Group, Inc. and Its Subsidiaries

    {December 23rd, 2018} by A.M. Best

    Oldwick – AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” for the life insurance subsidiaries of Western & Southern Financial Group, Inc. (WSFG). WSFG’s subsidiaries are The Western and Southern Life Insurance Company (WSLIC), Western-Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life […]

    New York Department of Financial Services Head Vullo to Depart

    {December 23rd, 2018} by Elizabeth Festa

    New York Department of Financial Services Superintendent Maria Vullo will be leaving the post on Feb. 1, 2019, she announced in a statement Wednesday. She will likely be replaced by Linda Lacewell, the chief of staff for the recently re-elected Gov. Andrew Cuomo, according to sources in New York. The governor’s office did not comment […]

    Why the $150 million Fiduciary Network lawsuit ‘could get very ugly’

    {December 23rd, 2018} by Charles Paikert

    The sale of Fiduciary Network, one of the industry’s first RIA aggregators that now has 14 high-quality RIAs with around $40 billion in combined AUM, turned out to be the (relatively) easy part. The subsequent $150 million lawsuit brought by Mark Hurley against Emigrant Bank and several of its executives is likely to drag on for […]

    VA Family Fights For Life Insurance Despite Murder Confession

    {December 23rd, 2018} by Admin

    December 20, 2018 VIRGINIA BEACH, Va. – Bellamy Gamboa has not been seen since July. Weeks after she disappeared, her ex-boyfriend and father of her toddler twins confessed to killing the mother of four at the Virginia Beach home they shared over the summer. Police have stopped looking for her body. Her family has even […]

    Windsor Heights man gets 8 years in prison for selling phony life insurance

    {December 23rd, 2018} by Stephen Gruber-Miller

    A Windsor Heights man has been sentenced to eight years in prison for scamming customers into buying fake life insurance policies and investments. Roger Duane Goodman, 60, was sentenced Tuesday to 97 months in prison followed by three years of supervised release, according to a news release from the office of U.S. Attorney Marc Krickbaum, who […]

    FGL Holdings Announces Leadership Transition and Strategic Initiatives to Enhance Shareholder Value

    {December 23rd, 2018} by FGL Holdings

    DES MOINES, Iowa, Dec. 19, 2018 /PRNewswire/ — FGL Holdings (NYSE: FG) (the “Company” or “F&G”), a leading provider of annuities and life insurance, today announced that Christopher Blunthas been appointed as President and Chief Executive Officer succeeding Christopher Littlefield. Additionally, the Company introduced a number of actions designed to enhance shareholder value, including additions to the Company’s leadership team, a […]

    FINRA Publishes Its Annual Report on Examination Findings

    {December 22nd, 2018} by Janet M. Angstadt, Susan Light, Richard D. Marshall

    On December 7, FINRA published its Report on 2018 Examination Findings1 (the “Report”). This is the second year that FINRA issued a summary of its observations from recent examinations. This Report, read in conjunction with FINRA’s Annual Regulatory and Examination Priorities Letter2, is worthy of attention as a roadmap of FINRA’s priorities, with highlights based on […]

    Defendants Not Liable for Insurance Agent’s Ponzi Scheme

    {December 22nd, 2018} by Carlton Fields

    A California appellate court recently affirmed the dismissal of claims against multiple insurers made by victims of a Ponzi scheme that was orchestrated by an independent insurance agent. The court concluded that the complaint offered no legal basis for holding the insurers liable for the wrongful acts of the sales representative based on his separate […]

    Global Universal Life Insurance Market to 2025 : Allianz, AXA, Generali, Ping an Insurance, China Life Insurance, Prudential PLC

    {December 22nd, 2018} by Researchmoz Global Pvt. Ltd.

    Albany, NY — (SBWIRE) — 12/03/2018 — Universal life insurance is a type of cash valuelife insurance, under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month withinterest. This report focuses on the global Universal […]

    Meet the People Trying to Put a Friendlier Face on Annuities

    {December 22nd, 2018} by Ron Lieber

    Saving for retirement requires a strange sort of oddsmaking. On one hand, we’re somehow supposed to know what returns to expect from investments in our retirement accounts over the next 25 or 50 years. And on the other, we must apply our prediction skills to related questions about how long we’ll want to work, how […]

    Microsoft-BlackRock Retirement System May Offer Annuities

    {December 22nd, 2018} by Allison Bell

    Some financial gurus may beat up on annuities in interviews, and in ads, but BlackRock seems to like annuities. BlackRock, emphasized in the recent announcement of its retirement security system alliance with Microsoft that the system will offer workers help with lifetime income solutions. BlackRock and Microsoft said they will use artificial intelligence and other […]

    DALBAR Announces 2018 Best-In-Class Annuity Service Providers

    {December 22nd, 2018} by DALBAR

    Marlborough, MA, Dec. 20, 2018 (GLOBE NEWSWIRE) — We are currently in what many refer to as the “Age of the Customer” where consumers across industries are demanding more from the companies with which they do business than ever before. Service has become a key differentiator. While service is important across all industries, it is […]

    Hybrid Life/LTCi: Breaking Down Barriers And Bridging Gaps

    {December 22nd, 2018} by Tony Laudato

    Recent months have seen a steady drip of bad news from life insurers, as firms have had to boost their reserves to the tune of billions in an expectation of soaring payouts for long-term care insurance policies. While troubling, the news simply confirms something that has been fairly obvious for some time: the old long-term […]

    Days Of Just Selling Life Insurance ‘Coming To An End,’ Analyst Says

    {December 22nd, 2018} by Susan Rupe

    Holistic planning and financial wellness are two of the themes that life insurance agents can expect to see in their business in 2019, according to an industry analyst. “I think the pressure on the agent is to be more to their clients. The theme is financial wellness,” said Ed Majkowski, Americas Insurance Sector and Advisory […]

    7th Circuit Rejects Life Policyholder Dividend Claims

    {December 20th, 2018} by Steven A. Meyerowitz

    This story is reprinted with permission from FC&S Legal, an ALM digital resource for insurance coverage law professionals. Visit the website to subscribe. The 7th U.S. Circuit Court of Appeals has affirmed a decision by the U.S. District Court for the Northern District of Illinois, rejecting claims by insureds with participating life insurance policies that the dividend provisions in […]

    Why do women ‘torpedo’ their retirement plans?

    {December 19th, 2018} by Amanda Schiavo

    Retirement is often viewed as a period when people can finally get to all the things they didn’t have time for previously. Recently, however, Americans are cutting back on expenses traditionally associated with retirement, like entertainment and travel, according to data from retirement planning product provider Global Atlantic Financial Group. Retirees are spending 29% less […]

    ‘Everyone needs to be part of the conversation’ on diversity and inclusion in insurance

    {December 19th, 2018} by Alicja Grzadkowska

    Statistics around women in the workplace paint a dreary picture. According to human resources consulting firm Mercer and its recent report, “Accelerating for Impact: 2018 Gender Inflection Point,” it will now take 217 years, compared to 170 years projected in 2016, to close the global economic gap between genders based on the current rate of change. For women […]

    Parent Company Guarantees of Annuities

    {December 19th, 2018} by JD Supra

    Rule amendments proposed in October by the SEC could impact insurers whose obligations under certain types of annuity contracts have been guaranteed by the insurers’ affiliates. For example, parent companies of some insurers historically have guaranteed the insurers’ obligations under fixed annuity contracts with “market value adjustment” features that require such obligations to be registered […]

    Sapiens Enhances Its Life And Annuities Insurance Suite

    {December 19th, 2018} by Sapiens International Corporation

    HOLON, Israel, Dec. 19, 2018 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the general availability of the Sapiens ALIS 8 policy administration suite (Sapiens ALIS) for life insurance companies  worldwide. The Sapiens ALIS 8 suite features enhanced group functionality, and improved investment features and […]

    The Millennial Conundrum

    {December 19th, 2018} by Paul Conley

    Republished from the 2018 Portfolio Print Publication Millennials. Few subjects have caused as much consternation in the finance industry as the nature of today’s young adults. Odds are you’ve spent a lot of time wondering about them, what drives them and particularly about how to hire them. According to Cherrie Wilkerson, a professor of the […]

    Connecticut Insurance Commissioner Leaving Office Ahead of Administration Change

    {December 19th, 2018} by Renée Kiriluk-Hill

    HARTFORD, Conn. – Connecticut Insurance Commissioner Katharine Wade will leave her office Dec. 19. State Life and Health Division Director Paul Lombardo will serve as acting commissioner until governor-elect Ned Lamont nominates a successor. Outgoing Gov. Dannel Malloy, a Democrat, appointed Wade in March 2015. She had served health insurer Cigna more than 20 years, […]

    4 Annuity Sales New Year’s Resolutions

    {December 18th, 2018} by Rich Lane

    A new year brings both potential challenges and opportunities. As this year comes to an end, now is the perfect time to reflect on both the successes of, and the setbacks for, your annuity sales strategy. Along with other changes in your life, it’s important to consider how changing market conditions should impact your connection […]

    UBS sues Ohio National over lost variable annuity commissions

    {December 18th, 2018} by Greg Iacurci

    UBS has sued The Ohio National Life Insurance Co. and its subsidiaries for the insurer’s new policy of ending adviser trail commissions on some variable annuity products. The wirehouse joins several other broker-dealers fighting the cessation of annual compensation. Click HERE to read the full story via InvestmentNews; registration required. 

    AM Best Affirms Credit Ratings of Securian Financial Group, Inc. and Its Subsidiaries

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

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of Minnesota Life Insurance Company and its subsidiary, Securian Life Insurance Company, together referred to as Securian Financial Insurance Group (Securian). AM Best also has affirmed the FSR of A (Excellent) and […]

    Indexed annuity sales will soon eclipse those of variable annuities: Cerulli

    {December 18th, 2018} by Greg Iacurci

    Indexed annuities are set to overtake variable annuities in sales within the next three years, according to Cerulli Associates, continuing an ascent over the past several years that has steadily eroded variable annuities’ market share. Click HERE to read the full story via InvestmentNews; registration required. 

    Sammons Financial Lays Off ‘Small Group’ Of Employees

    {December 18th, 2018} by John Hilton

    Sammons Financial Group is the latest insurer to announce layoffs — a “small group” of employees across four Midwest company sites. The layoffs will happen during the first quarter of 2019, said John Myers, associate vice president of corporate communications for Sammons. The affects offices are reportedly in Illinois, Iowa, South Dakota and North Dakota. Click […]

    Prudential study reveals a nation ‘almost equally split’ between the financially healthy and the struggling

    {December 18th, 2018} by Marlene Y. Satter

    When it comes to finances, socioeconomic factors take a toll on particular groups within the U.S. population . According to Prudential Financial’s financial wellness census “The Cut – Exploring Financial Wellness Within Diverse Populations,” there are bright spots within under-served demographic groups when it comes to income inequality, retirement insecurity and household debt. However, some […]

    Annuity group says Ohio National poses risk to industry sales

    {December 18th, 2018} by Greg Iacurci

    The Insured Retirement Institute, an annuity industry trade group, said recent business decisions Ohio National Financial Services Inc. has made around its variable annuities poses a risk to the broader annuity industry. Click HERE to read the full story via InvestmentNews; registration required.

    Tools For Doing More Life Business in 2019

    {December 18th, 2018} by Kenneth A. Shapiro

    Parents need their kids to seek out opportunities that will prepare them for moving forward faster.  As every parent knows, some kids get the message better than others. This is also the story of many life insurance agents. Some see the possibilities and are quick in responding to new opportunities. Others see hurdles that keep […]

    NAILBA Unveils its Redesigned Website

    {December 18th, 2018} by NAILBA

      FOR IMMEDIATE RELEASE Contact: Telly Lovelace (703) 884-1525 TLovelace@NAILBA.org   The Revamped NAILBA.org Features a new Industry Career Center, Brokerage Agency Management & Staff Development Resources, Member Advocacy & Action Center   FAIRFAX, VA – The National Association of Independent Life Brokerage Agencies, better known across the insurance industry as NAILBA, announced today the […]

    UBS Sues Annuities Provider, Claiming Deceptive Practices in Commission Promises

    {December 18th, 2018} by Miriam Rozen

    Wirehouse UBS has joined a lengthening queue of plaintiffs filing lawsuits against Ohio National Financial Services for its decision to terminate variable annuities selling agreements with broker-dealers and to stop paying trailing commissions. On Dec. 13, UBS filed its complaint in federal court in New Jersey, claiming Ohio National “threatened to deprive UBS and its financial advisors of their […]

    2019 Looking Like A Good Year To Be An Advisor

    {December 18th, 2018} by John Hilton

    As the calendar readies a turn to 2019, there are plenty of trends that favor the business of financial advising. Here are three big ones: Annuities sales are on a serious upswing, and young people are open to the products. People who work with an advisor are happy clients and better prepared. The need for […]

    AM Best Removes From Under Review, Affirms Credit Ratings of AXA Equitable Life Insurance Co. and Most of Its Life Subsidiaries

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

    Oldwick – AM Best has removed from under review with developing implications and has affirmed the Financial Strength Rating (FSR) of A and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a+” of AXA Equitable Life Insurance Company (AXA Equitable) (New York, NY). Concurrently, AM Best has assigned a Long-Term ICR of “bbb+” to AXA Equitable Holdings, […]

    5 Ways to Enhance Life Insurance Client Service

    {December 18th, 2018} by Mark Peterson

    As 2018 draws to a close, one thing we can count on in the new year is that U.S. consumers will still have a lengthy list of needs for protection and longevity planning. Following are five ways to enhance life insurance client service in 2019. Some of the strategies are explained in more detail than […]

    Sammons Financial Group Layoffs In Sioux Falls

    {December 18th, 2018} by Casey Wonnenberg

    SIOUX FALLS, S.D. – A financial company is making cuts in Sioux Falls. Sammons Financial Group won’t say how many people it laid off but the reductions are because the company is changing its life insurance sector. The layoffs happened at four different locations, including Sioux Falls. At the same time, Sammons says it’s growing […]

    World Financial Group Modernizes with iPipeline’s AgentOne and Salesforce.com

    {December 18th, 2018} by iPipeline

    EXTON, Pa.–(BUSINESS WIRE)–iPipeline® – a leading provider of cloud-based software solutions for the life insurance and financial services industry – today reported World Financial Group Insurance Agency, Inc. (WFG), an insurance agency with over 50,000 agents, has launched the AgentOne app to modernize their new business platform. The enterprise-wide deployment enables WFG’s agents to use […]

    FAs Decry New Jersey Fiduciary Rule: This Could Hurt Clients and Advisors Alike

    {December 18th, 2018} by Mrinalini Krishna

    Financial advisors are worried that a push for a fiduciary rule in New Jersey and other states may have unintended consequences that could hurt clients and advisors. After the Department of Labor’s fiduciary rule was vacated earlier this year, in September the state of New Jersey announced its intention to come out with its own version […]

    DPL Financial Partners Teams with Security Benefit Life to Bring an Exclusive, Four-year MYGA to Market for Fee-only Advisors

    {December 17th, 2018} by DPL Financial Partners

    Commission-free version of Advanced Choice product is offered exclusively through DPL LOUISVILLE, KY, December 17, 2018 /24-7PressRelease/ — DPL Financial Partners (“DPL”), the insurance network for registered investment advisors, today announced an exclusive agreement with Security Benefit Life Insurance Company (“Security Benefit”) to begin offering a four-year version of Security Benefit’s Advanced Choice Fixed Annuity […]


    {December 16th, 2018} by Ash Brokerage

    FORT WAYNE, INDIANA – Ash Brokerage, the largest privately held insurance brokerage in the United States, continues to grow with the acquisition of Kansas-based Target Insurance Services, Inc., the companies announced today. Leaders say the partnership comes as a result of a long-standing relationship between the two firms, and they are excited for the opportunities […]

    Pacific Life pulls ads from Tucker Carlson’s show after ‘poorer and dirtier’ immigration comment

    {December 15th, 2018} by Owen Daugherty

    Insurance company Pacific Life announced Friday that it is pulling its advertisements from Fox News’s “Tucker Carlson Tonight” after the host said the “immigration crisis” in America makes the country “poorer and dirtier and more divided.” The action came after an advertisement from the company was shown on-screen right after Carlson made the comment on […]

    You Might Be as Popular as a Dieting Coach: Allianz Life

    {December 15th, 2018} by Allison Bell

    The good news is: U.S. consumers may be taking wellness more seriously. The bad news: You might be competing for consumers’ attention with people who have a strong opinion about whether spaghetti is suitable for people who need to lose weight. The consumer insights team at Allianz Life Insurance Company of North America has included data […]

    Caregivers Want to Leave Money for Heirs: Prudential

    {December 15th, 2018} by Allison Bell

    One reason for life insurance agents to support caregivers is that caregivers may be unusually motivated prospects for life insurance. Analysts at Prudential Financial Inc.  have raised that possibility with a new cut of data from a survey of 3,013 U.S. adults ages 25 to 70. The analysts pulled out the data for the 710 survey […]

    America’s Life Insurance Market Has A Problem…

    {December 15th, 2018} by Aparna Sankaran

    Global insurance sector growth is expected to remain weak, and companies must focus on technology and innovative initiatives that optimize costs, drive wider distribution and market reach and explore local niche market segments, to spur growth reveals EY Insurance Outlook 2019. The latest editions of EY insurance outlook series ‒ covering the three regions, Americas, […]

    Genworth Reports Big Change in Exec Comp Approval Vote

    {December 15th, 2018} by Allison Bell

    Shareholders of Genworth Financial Inc. may be less happy with Genworth Financial Inc. executive pay this year than they were a year ago. Genworth shareholders approved every director and proposal included on the proxy card this year, but they approved the 2019 executive compensation item by a much lower percentage this year. This year, shareholders […]

    Ohio National Officially Terminates Select VA Trails

    {December 14th, 2018} by John Hilton

    Ohio National officially broke service contracts today on variable annuities with a specific guarantees, never backing off the precedent-setting decision despite a torrent of criticism (and lawsuits) from the producer side. Trail commissions stopped today for any producer who sold a VA with a guaranteed minimum income benefit rider. The company has been sued twice so far by broker-dealers […]

    Sales of Fixed Indexed Annuities May Swamp Other Annuities, Report Says

    {December 14th, 2018} by Marlene Satter

    Fixed indexed annuities and structured annuities will see their sales rise over the next few years. That’s according to the latest research from Cerulli Associates in its latest report, U.S. Annuity Markets 2018: Remaining Well Capitalized and Adaptive. While just 22% of surveyed carriers offer structured products, the report adds, they could find new growth in such offerings. […]

    New York State Change Could Cut Life and Annuity Costs

    {December 14th, 2018} by Allison Bell

    New York state says it will let its life and annuity issuers move toward a new, possibly more efficient approach to building the asset pools needed to meet obligations — principles-based reserving. Gov. Andrew Cuomo last week signed S. 08978-A/A. 11116-A, a principles-based reserving bill for the state’s life and annuity issuers. The New York State Department […]

    AM Best Affirms Credit Ratings of Security Benefit Life Insurance Company and Its Affiliate

    {December 13th, 2018} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” of Security Benefit Life Insurance Company (Topeka, KS) and its affiliate, First Security Benefit Life Insurance and Annuity Company of New York (New York, NY). The companies are collectively known as Security Benefit. Concurrently, AM Best […]

    Insurance Technologies Releases FireLight® e-Delivery to Seamlessly Automate the Delivery of All Insurance and Retirement Policies and Documents

    {December 13th, 2018} by Insurance Technologies, LLC

    COLORADO SPRINGS, CO, December 11, 2018 – Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, announced the release of FireLight® e-Delivery. This new SaaS sales component delivers an enhanced and efficient way to electronically deliver any policy, notification or document with in-good-order data collection, including e-signature and tracking […]

    CreativeOne co-owner wins recognition for lifetime of innovation in annuities

    {December 13th, 2018} by James Dornbrook

    By James Dornbrook  – Staff Writer, Kansas City Business Journal Dec 12, 2018, 4:07pm EST Mike Tripses, an owner and co-founder of Leawood-based insurance marketing organization CreativeOne, has been a major innovator in the annuities market. Recently, he was awarded the 2018 Bo Johnson Spirit Award for Lifetime Achievement from the National Association for Fixed Annuities. Tripses developed […]

    Horace Mann to Acquire National Teachers Associates in $405 Million Transaction

    {December 12th, 2018} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill., December 10, 2018 — Horace Mann Educators Corporation (NYSE:HMN) today announced it has signed a definitive agreement to acquire National Teachers Associates Life Insurance Company. National Teachers Associates (NTA), through its subsidiaries, is a provider of supplemental insurance products to the education market with nearly 50 years of experience. The combined company will […]

    Driven by Millennial Optimism, Americans are Putting Less Focus on Finances in 2019

    {December 12th, 2018} by Allianz Life Insurance Company of North America

    December 12, 2018 10th Annual New Year’s Resolution Study from Allianz Life Shows Decrease in Attention to Money Management, Yet Desire Remains Strong for Financial Planning Help in 2019 Key Findings Snapshot: 23% of Americans are concerned about stagnant wages, down from 30% in 2017 24% of millennials cite job security as a top concern, down […]

    AIG Returns to CLO Market With First Post-Crisis Deal

    {December 12th, 2018} by Adam Tempkin

    American International Group Inc. has returned to the red-hot collateralized loan obligation (CLO) market as an asset manager with its first sale since the financial crisis. The $500 million transaction is being arranged by Credit Suisse Group AG, and its most senior tranche was graded by S&P Global Ratings, Fitch Ratings, and Morningstar Credit Ratings. […]

    Questions abound as Ohio National stops commission payments this week

    {December 12th, 2018} by Greg Iacurci

    Ohio National Financial Services Inc. is ceasing payment of advisers’ variable annuity trail commissions Thursday, and advisers are left wondering how they’re going to deal with the fallout. Click HERE to read the full story via InvestmentNews; registration required. 

    Federal Life Goes Public

    {December 12th, 2018} by Allison Bell

    A small Midwestern mutual life insurer has turned itself into a public company. The insurer, Federal Life Insurance Company of Riverwoods, Illinois, is now a subsidiary of Federal Life Group Inc., a company with stock that trades on the Nasdaq Capital Market. Shares trade under the symbol Nasdaq:FLF. Federal Life’s stock may not stay on […]

    Sammons Financial Group Honored as One of Glassdoor’s 2019 Best Places to Work

    {December 12th, 2018} by Sammons Financial Group

    WEST DES MOINES, Iowa, Dec. 06, 2018 (GLOBE NEWSWIRE) — Sammons® Financial Group, Inc. (SFG) has been honored with a Glassdoor Employees’ Choice Award, recognizing the Best Places to Work in 2019. The Employees’ Choice Awards program, now in its 11th year, is based solely on the input of employees who elect to provide feedback on their jobs, work […]

    Financial decisions made by diverse populations more likely to revolve around others

    {December 11th, 2018} by Sarah Min

    Black Americans, Asian Americans and Latino Americans are more likely than the general American population to support their parents and children financially. At the same time, more than half of women are the primary breadwinners in their households. Click HERE to read the full story via InvestmentNews; registration required. 

    Forty Percent Of Americans View Financial Planning Like A Medical Checkup – Not Fun But Necessary

    {December 11th, 2018} by The 2018 Northwestern Mutual Planning & Progress Study

    MILWAUKEE, Dec. 11, 2018 /PRNewswire/ — New research from Northwestern Mutual has produced the 2018 Planning & Progress Study, which seeks to provide unique insights into U.S. adults’ attitudes and behaviors toward money, financial decision-making, and the broader landscape issues impacting people’s long-term financial security. The study has found that when US adults aged 18+ are asked […]

    Anti-Annuity Stance Softening Among Advisors and Investors

    {December 11th, 2018} by Jane Wollman Rusoff

    A big 80% of defined contribution plan participants showed interest in putting all or some of their retirement money into guaranteed lifetime income products as either an in-plan purchase or one made at retirement, the 2018 Retirement Confidence Survey found. Perhaps without realizing it, those individuals ages 25 and older may be talking annuities. The […]

    NAIC’s Proposed Annuity Sales Rule Under Fire

    {December 11th, 2018} by John Hilton

    Not surprisingly, a draft annuity sales transactions model law by the National Association of Insurance Commissioners is satisfying neither side. An NAIC working group met several times this year around the country in trying to advance an annuity sales model — mostly without success due to a few thorny issues. The group recently opted to […]

    Foresters Financial Improves the Ease of Doing Business for Agents Selling Medically Underwritten Insurance Products

    {December 11th, 2018} by Foresters Financial

    TORONTO–(BUSINESS WIRE)–Foresters Financial™, a purpose-driven financial services provider, is pleased to announce an innovation that will allow our U.S. network of representatives to sell medically underwritten life insurance products faster and more efficiently. Starting immediately, all agents using our updated iPipeline iGO® e-App will now have the ability to sell medically underwritten life insurance policies […]

    Financial Advisors Concerned about Inflation; Year-Over-Year Economic Confidence Holds Steady, New Survey Shows

    {December 11th, 2018} by SS&C Technologies

    WINDSOR, Conn., Dec. 10, 2018 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today released the results of its Q4 2018 Fixed Income survey of financial advisors regarding fixed-income investing, economic confidence and market performance. Respondents were asked to reflect on key financial issues, including inflationary concerns, Federal Reserve […]

    Young Consumers Shun Life Market: MIB

    {December 11th, 2018} by Allison Bell

    Many young Americans turned their backs on the U.S. individual life insurance market in November. The number of U.S. residents ages 44 and younger who applied for coverage in last month was 9.4% lower than in November 2017, according to new data from MIB Group Inc. The drop in November follows a 7.3% year-over-year drop for the […]

    Finra exams find fault with sales of variable annuities, nontraded REITs and private placements

    {December 11th, 2018} by Greg Iacurci

    Variable annuities, nontraded REITs and private placements are among the primary areas in which brokerage firms and their representatives have demonstrated lax compliance, according to a new Finra report detailing recent examination findings. Click HERE to read the full story via InvestmentNews; registration required. 


    {December 11th, 2018} by Katherine Hignett

    Wall Street’s iconic Fearless Girl statue has moved down the street from her bronze adversary, the Charging Bull she’s faced since her March 2017 installation. The four-foot girl now stands—hands on her hips and wind whipping her hair—opposite the New York Stock Exchange at 11 Wall Street. Read more: Why is Fearless Girl moving? Mayor Bill de Blasio announces new location […]

    Class Action Filed By Meyer Wilson Against Ohio National Life

    {December 11th, 2018} by Meyer Wilson

    COLUMBUS, Ohio, Dec. 10, 2018 /PRNewswire/ — Come December 13, 2018, thousands of advisors will be out tens of millions of dollars as a result of Ohio National Life Insurance Company’s termination of trailing commission payments on its variable annuities with guaranteed minimum income benefit (GMIB) riders. Many advisors seeking accountability are turning to a recently filed class […]

    IUL Sales Next Year May Go From Hot to Cold as New Rules Loom

    {December 11th, 2018} by Cyril Tuohy

    “I believe there is going to be a ‘fire sale’ mentality because of likely regulation that will limit illustrated values on the products,” said Sheryl Moore, publisher of Wink’s Sales & Market Report. The illustrations show buyers the potential returns they can reap. Click HERE to read the full story via LifeAnnuitySpecialist. 

    Advisors have a suitability problem, FINRA warns

    {December 10th, 2018} by Kenneth Corbin

    Brokers continue to make numerous mistakes when it comes to devising suitable investment strategies for retail clients and making appropriate product recommendations, FINRA warns. The regulator has published a report highlighting the myriad deficiencies staffers observed over the course of their examinations of firms and branch offices in 2018. FINRA identified frequent citations in areas […]

    Lincoln Financial Group Announces Reinsurance Transaction with Athene and Accelerated Share Repurchase Program

    {December 10th, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced it has entered into an agreement with a subsidiary of Athene Holding Ltd. (NYSE: ATH), to reinsure approximately $7.7 billion of in-force fixed and fixed indexed annuity products. The capital generated from the transaction, including a ceding commission paid by Athene combined with the release of […]

    Best’s Market Segment Report: U.S. Life/Annuity Outlook Revised to Stable as Operating Environment, Economy Improve

    {December 10th, 2018} by A.M. Best

    Oldwick – AM Best has revised its market segment outlook for the U.S. life/annuity (L/A) industry to stable from negative for 2019, citing increased profitability, improved regulatory and tax environments and a strengthening U.S. economy, along with overall reduced balance sheet risk due to a proactive approach taken by companies in recent years. A series of Best’s Market […]

    10 predictions for financial advice in 2019

    {December 8th, 2018} by Ryan W. Neal

    Despite recent stock market struggles, wealth management remains one of the strongest-performing sectors in financial services around the globe, according to Deloitte’s 2019 Banking & Capital Markets Outlook report. Macroeconomic trends, the movement towards fee-based relationships and favorable demographic shifts all give reason for continued optimism going into 2019.  Click HERE to read the full story […]

    FINRA Exam Report: 5 Big Problem Areas for Brokers in 2018

    {December 8th, 2018} by Janet Levaux

    The Financial Industry Regulatory Authority released its annual exam findings on Friday, zooming in on improper activity that it wants to stop. The report lists the areas in which industry players need to do better, based on what FINRA staff has been seeing out in the advisory field: advisors working on accounts and transactions for […]

    Don’t fear women. It’s bad for them and bad for business

    {December 7th, 2018} by InvestmentNews Editorials

    Are men really becoming afraid of women? That’s the upshot of a recent Bloomberg story about fallout from the #MeToo movement. The story described how some men on Wall Street and across financial services are avoiding women for fear that their actions will be misconstrued. The suggestion of such an approach caused an immediate and vigorous rebuke […]

    Group1001 Launches Relay® for California Residents

    {December 7th, 2018} by Group1001

    INDIANAPOLIS, Dec. 7, 2018 /PRNewswire/ — Group1001 has announced today the extended availability of Relay® in the state of California. Launched in October, Relay is a revolutionary financial product that rewards goal-oriented consumers with incredible cash-back on everyday expenses. Relay’s bold new insurtech offering couples an immediate annuity, issued by Guggenheim Life and Annuity Company, with a prepaid debit card offering […]

    Sandwich Generation: When Insurance And Caregiving Collide

    {December 7th, 2018} by Kim Anderson

    Sandwich generation. I remember the first time I heard this phrase. I had just started my career in financial services and I was confused. I thought, “Are they saying my generation likes sandwiches?” Then the instructor explained what it meant: a person who is sandwiched between caring for aging parents while also caring for children […]

    Finke: Why Annuities (and Free Steak Dinners) Deserve a Second Chance

    {December 7th, 2018} by Janet Levaux

    There’s been some revealing chatter on Twitter this week about Ron Lieber’s recent column in the New York Times, “We Went to a Steak Dinner Annuity Pitch. The Salesman Wasn’t Pleased.” In the piece, Lieber describes a controversial chart shared at the meal, featuring an equity indexed annuity performing almost 8.3% better than the S&P 500 […]

    States Expected To Ramp Up ‘Best Interest’ Efforts Early In 2019

    {December 7th, 2018} by John Hilton

    As many as 14 states want to put a “fiduciary duty” on insurance agents via new regulations, an industry spokeswoman said today.   Click HERE to read the full story via INN; subscription required. 

    Introducing Women in Banking: Next (and how to apply)

    {December 6th, 2018} by Bonnie McGeer

    About the new ‘Women in Banking: Next’ program For 16 years, American Banker’s Most Powerful Women in Banking and Finance rankings have been celebrating top-performing senior executives. Now we invite you to take part in a new opportunity to advance the mission of gender parity. Welcome to the launch of Most Powerful Women in Banking: Next. This award will […]

    9 Federal Life Insurance Company Reboot Facts, for Agents

    {December 6th, 2018} by Allison Bell

    Some individuals try to make money by fixing up and selling undervalued houses. Some investment groups try to do the same with insurance companies. Insurance Capital Group LLC (ICG), a New York-based player in the insurer reboot market, says it wants to help Federal Life Insurance Company of Riverwood, Illinois, increase its sales, improve its earnings […]

    Why Do So Many Families Go Without Life Insurance?

    {December 6th, 2018} by David Ehrenthal

    In a recent SBLI Financial Awareness Survey, we looked to see why so many families choose to ignore the risks of not having a life insurance policy. As the survey showed, although the majority understood the importance of life insurance to financial security, only a minority made a plan and acted on it. Why?   […]

    How Non-Annuity Owners Are… Different

    {December 6th, 2018} by Allison Bell

    Global Atlantic Financial Group is using new survey data to plant an idea:  retiring with an annuity could be a lot more fun than retiring without an annuity. The New York-based life and annuity issuer commissioned a survey of 4,223 U.S. residents ages 40 and older. Some were retired and some weren’t. Global Atlantic asked questions […]

    A Wall Street Rule For The #MeToo Era: Avoid Women At All Cost

    {December 6th, 2018} by Katia Porzecanski, Gililan Tan

    No more dinners with female colleagues. Don’t sit next to them on flights. Book hotel rooms on different floors. Avoid one-on-one meetings. In fact, as a wealth adviser put it, just hiring a woman these days is “an unknown risk.” What if she took something he said the wrong way? Across Wall Street, men are […]

    Should Annuity Products Get a Fiduciary Safe Harbor? Bloink & Byrnes Go Thumb to Thumb

    {December 6th, 2018} by Ronald Pechtimaldjian

    The set of tax reform bills collectively known as “Tax Reform 2.0” has been steadily making its way through Congress, and includes many retirement-related provisions that could substantially impact clients. One of the more recent amendments proposed by Republicans in the House would provide for a fiduciary rule safe harbor for retirement plan sponsors who […]

    The Good And Bad In Life Insurance 3Q Numbers

    {December 6th, 2018} by John Hilton

    There’s no doubt there was some good news and some bad news in the third-quarter life insurance sales numbers. How good and how bad depend on the time frame comparison and methodology used. Diving deeper into those things explains why LIMRA and Wink both were correct with last week’s “universal life is up” and “universal […]

    Choosing A Life Insurance Policy To Meet Your Needs

    {December 6th, 2018} by Catherine Schnaubelt

    Any good wealth management plan involves the periodic evaluation of your financial goals and objectives—and a well-designed approach to help achieve them. Although often overlooked as a planning tool, life insurance can serve a broad spectrum of needs for individuals, families and business owners. Since there are a multitude of policies available, choosing the right […]

    Delaware Life Insurance Company introduces new value-add sales consultants

    {December 5th, 2018} by Delaware Life Insurance Company

    WALTHAM, Mass., Dec. 3, 2018 /PRNewswire/ — Delaware Life Insurance Company, a leading provider of annuity and life insurance products in the U.S., added new talent with the introduction of the National Sales Consulting (NSC) team. This group of experienced professionals are highly educated consultants on income and tax planning, as well as business-building strategies for financial advisors. […]

    Young Women Have to Play Catch-Up in Retirement Savings

    {December 5th, 2018} by Kerry Hannon

    For Lindsay Corner, 25, saving for retirement has a greater urgency than for many of her peers. “None of my girlfriends talk about it, but I feel fairly confident about managing money and finances,” Ms. Corner said. “I learned about it from my parents and, in college, I studied accounting and finance and took a […]

    Athene in significant pension risk transfer transaction with Bristol-Myers

    {December 5th, 2018} by Athene Holding

    Athene Holding (ATH) announced a first-of-its-kind pension plan termination transaction with Bristol-Myers Squibb (BMY) covering more than 24,000 active employee participants, retirees, beneficiaries, and former Bristol-Myers Squibb employees who have not yet commenced their benefits. Under the agreement, Athene’s wholly-owned Iowa-domiciled life insurance subsidiary, Athene Annuity and Life company, agreed in advance to provide an […]

    Two autism diagnoses made this planner reprioritize

    {December 5th, 2018} by Charles Massimo

    When my two boys were toddlers, they were diagnosed with autism. Raising them — along with my daughter — has not only made me grow as parent, but has also made me a better financial advisor. Over the last 19 years I’ve learned some important lessons from parenting that have also benefited my business. Find Your […]

    The Society of Annuity Facts and Education (SAFE) responds to “We Went to a Steak Dinner Annuity Pitch. The Salesman Wasn’t Pleased.”

    {December 4th, 2018} by Bob Phillips

      Dear Mr. Ron Lieber and the Editors of the New York Times,   We are contacting you in response to your recent article on annuities, and want to thank you for taking the time to write about these retirement savings products. For the next 12 years, there will be an average of 10,000 people […]

    What Advisors, BDs Should Do About Ohio National’s End of Trailing Commissions

    {December 4th, 2018} by Jon Henschen

    Ohio National’s decision to stop trail payments has started a wave of legal actions — and this is before the change is set to take effect on Dec. 12, 2018. Here’s a list of some of the legal actions being taken against Ohio National: LPL Financial representative Lance Browning filed a lawsuit in federal district […]

    Is It Time To Harvest The NAIC Suitability In Annuity Transactions Model Regulation?

    {December 4th, 2018} by Ann Young Black and Jamie Bigayer

    At the NAIC Fall 2018 National Meeting, state regulators continued plowing through the Suitability in Annuity Transactions Model Regulation (Model 275) (Suitability Model). During its November 15 meeting, the Annuity Suitability (A) Working Group (Suitability WG) continued to fertilize the Suitability Model with a goal of elevating the standard of care for annuity sales to […]

    Litigation Alert For Broker-Dealers And Affected Financial Advisors: Sarraf Gentile LLP Announces Class Action Lawsuits Have Been Filed Against Ohio National For Terminating Trailing Commissions

    {December 4th, 2018} by Sarraf Gentile LLP

    NEW YORK, Nov. 29, 2018 (GLOBE NEWSWIRE) — Sarraf Gentile LLP announces that multiple class actions have been filed against Ohio National Life Insurance Company concerning its decision to terminate trailing commissions. The actions are pending in the United States District Court for the Southern District of Ohio (case numbers 18-cv-00763 and 18-cv-00769). The actions […]

    Brighthouse Prepares to Add Life Product

    {December 4th, 2018} by Allison Bell

    Brighthouse Financial Inc. hopes to introduce a major life insurance product by the end of the year. The Charlotte, North Carolina-based company hopes the product will help it attract about $250 million in deposits per year by 2021. The company is also counting on an enhanced annuity portfolio to generate 11% compound annual growth in deposits from […]

    Penn Mutual launches finance company for women

    {December 4th, 2018} by Staff report

    HORSHAM — The Penn Mutual Life Insurance Co. has launched a new company dedicated solely to women and their finances. MyWorth is meant to bridge the confidence gap between women and their money by bringing them the resources they need so they can take charge of their financial futures, the company said. “A watershed moment is […]

    Alabama Department of Insurance: Life Insurance Policy Tool Recovers $4.4 Million for Alabama Consumers

    {December 4th, 2018} by Targeted News Service (Press Releases)

    MONTGOMERY, Alabama, Nov. 29 — The Alabama Department of Insurance issued the following news release: The Life Insurance Policy Locator — launched by the Alabama Department of Insurance through the National Association of Insurance Commissioners — has matched consumers with policies totaling $4.4 million in the past 12 months. The NAIC launched the free national locator service in November 2016 to make it easier to connect […]

    Anger over Ohio National’s attack on VA contracts

    {December 4th, 2018} by Mary Beth Franklin

    I am angry and appalled by Ohio National Financial Services’ announcement that it will terminate the trailing commissions on existing variable annuity contracts with guaranteed income benefits. Talk about changing the rules in the middle of the game! Click HERE to read the full story via InvestmentNews; registration required. 

    SEC Proposes Summary Prospectus Rule for Variable Annuity and Variable Life Insurance Contracts

    {December 4th, 2018} by K&L Gates

    Executive Summary In a significant step toward improving variable insurance product (“VIP”) disclosure, the U.S. Securities and Exchange Commission (“SEC”), on October 30, 2018, proposed a new rule (the “Summary Prospectus Rule”) long advocated by the insurance industry that would allow VIP issuers to use a summary prospectus to satisfy prospectus delivery obligations under Section […]

    Annuity and mutual fund interests at odds over 401(k) disclosures

    {December 4th, 2018} by Greg Iacurci

    A fight is breaking out over retirement legislation that the U.S. Congress is trying to jam through before year’s end, pitting insurance and mutual fund groups, as well as large 401(k) providers, against each other. Click HERE to read the full story via InvestmentNews; registration required. 

    Ruark Consulting Releases Fall 2018 Variable Annuity Study Results

    {December 4th, 2018} by Ruark Consulting, LLC

    SIMSBURY, Conn.–(BUSINESS WIRE)–Ruark Consulting, LLC today released the results of its fall 2018 studies of variable annuity (VA) policyholder behavior. The studies, which examine the factors driving surrender behavior, income/withdrawals, and annuitization, were based on experience from 13.3 million policyholders spanning the period January, 2008 through June, 2018. Twenty-four variable annuity writers participated in the […]

    Cetera Files Arbitrations Against Ohio National Over Annuity Contracts

    {December 4th, 2018} by Diana Britton

    All six Cetera Financial broker/dealers have filed FINRA arbitration claims against Ohio National Life Insurance Company and its affiliates for cutting trail commissions on annuity contracts with guaranteed minimum income benefit riders. The firm filed three arbitration claims on behalf of its b/ds, which include Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), […]

    WealthVest Announces Elliott Eliason Assumes Regional Director Position

    {December 4th, 2018} by WealthVest

    BOZEMAN, MONT. (PRWEB) NOVEMBER 27, 2018 WealthVest continues to grow their team of wholesalers by hiring Elliott Eliason. Elliott will cover the Minneapolis/St. Paul area, helping financial professionals with retirement planning utilizing fixed and index annuities. WealthVest demonstrates traditional face-to-face wholesaling as the #1 independently owned distributor of fixed and fixed index annuities in financial institutions. […]

    A.M. Best Comments on Credit Ratings of Members of Ohio National Life Group Following Recent Developments

    {December 4th, 2018} by A.M. Best

    Oldwick – A.M. Best has commented that the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-ˮ of The Ohio National Life Insurance Company and its wholly owned subsidiary, Ohio National Life Assurance Corporation (together referred to as the Ohio National Life Group) are unchanged following a series of recent developments, including […]

    Stretching The Tax Benefits Of Annuities

    {December 4th, 2018} by N/A

    One of the biggest advantages of an annuity, tax deferral, can be lost when anyone other than a spouse inherits an annuity. Then, all deferred taxes on the gains must be paid sooner or later. It’s usually better to pay them later rather than sooner—and there are different ways to do that. If the beneficiary […]

    Indexed universal life insurance continues growth streak

    {December 3rd, 2018} by Greg Iacurci

    Indexed universal life insurance sales are up double digits as market conditions drive the product line to its eighth consecutive quarter of growth in premiums, according to insurance industry group Limra.   Click HERE to read the full story via InvestmentNews; registration required.  ******************************************************************************************* The group declined to provide dollar figures for sales, represented by […]

    Universal Life Insurance: Past Its Prime?

    {December 3rd, 2018} by Ben Mattlin

     In a 1980s TV commercial, Charlie Brown extols the benefits of universal life insurance. It “means the cash value of your insurance earns interest at competitive market rates,” he tells Linus. “Within limits, you can skip payments or vary the amount of coverage.” So persuasive was this type of simple sales pitch for a relatively […]

    Insurance Companies Obtain Relief to Use Statutory Financial Statements in Registration Statements Filed on Form S-1 for Certain Insurance Products

    {December 1st, 2018} by Vedder Price P.C

    On September 28, 2018, the staff of the SEC’s Division of Investment Management granted requests from certain applicant insurance companies to file audited financial statements prepared in accordance with statutory accounting principles (SAP)—instead of financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP)—in registration statements for certain index-linked annuities and group funding […]

    Critics Blast NAIC State-Accreditation Program as Unconstitutional

    {December 1st, 2018} by Elizabeth Festa

    The National Association of Insurance Commissioners’ state accreditation program is unconstitutional because it can coerce states to pass laws, and the NAIC itself has an outsize influence on insurance regulation, critics argued Thursday. Speaking at the Consumer Federation of America’s financial services conference in Washington, Daniel Schwarcz, professor of law at the University of Minnesota, […]

    Strong VUL Premium Pumps Up Life Sales

    {December 1st, 2018} by Allison Bell

    Sales of U.S. individual variable universal life (VUL) policies continued to shine in the third quarter. Life insurers managed to increase the number of VUL policies they sold during the quarter, not just the annualized premium total, according to new data from LIMRA. Click HERE to read the full story via ThinkAdvisor.     ************************************************* […]

    Policy locator connects Oklahoma families with millions in lost life insurance policies

    {December 1st, 2018} by KFOR-TV AND K. QUERRY

    OKLAHOMA CITY – When you lose a loved one, finding life insurance policies may be a complicated issue for many families. The Oklahoma Insurance Department is reminding Oklahomans about the ‘Life Insurance Policy Locator,’ a free nationwide database. In the past 12 months, officials say the database has helped Oklahomans claim almost $2 million in […]

    Alignvest Acquisition II Corporation and Sagicor Financial Corporation Limited Announce Proposed Business Combination and Proposed Strategic Acquisition

    {December 1st, 2018} by Alignvest Acquisition II Corporation

    November 27, 2018 06:10 ET | Source: Alignvest Acquisition II Corporation Sagicor is the market-leading provider of insurance products and related financial services in the Caribbean region and has a growing presence as a provider of life insurance products in the United States. The Company has over 175 years of history in the region and is the second […]

    A.M. Best Places Credit Ratings of Sagicor Financial Corporation Ltd and Subsidiaries Under Review With Developing Implications

    {December 1st, 2018} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has placed under review with developing implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Sagicor Life Inc. (St. Michael, Barbados), Sagicor General Insurance, Inc. (Bridgetown, Barbados) and Sagicor Life Insurance Company (Austin, TX). Concurrently, A.M. Best has placed under review […]