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Archive for March 2019


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  • Transamerica Designated as a Best Place to Work for LGBTQ Equality, Receives Perfect Score from Human Rights Campaign

    {March 30th, 2019} by Transamerica

    BALTIMORE, March 28, 2019 /PRNewswire/ — Transamerica announces today that it received a score of 100 percent from the Human Rights Campaign Foundation on its annual Corporate Equality Index (CEI). The index measures lesbian, gay, bisexual, transgender and queer (LGBTQ) workplace equality based on a national benchmarking survey and report of corporate policies and practices. Transamerica is proud […]

    AM Best Affirms Credit Ratings of Ameritas Life Insurance Corp. and Its Subsidiary

    {March 30th, 2019} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of Ameritas Life Insurance Corp. (Lincoln, NE) and Ameritas Life Insurance Corp. of New York (New York, NY). These insurance entities comprise the life/health operations of Ameritas Mutual Holding Company (all companies collectively […]

    FBL Financial Group Presents 2018 Annual Report

    {March 30th, 2019} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) today announced that its 2018 annual reportto shareholders is now available on its website at www.fblfinancial.com. FBL Financial Group’s online annual report features the video letter to shareholders with Chief Executive Officer James P. Brannen as well as a financial review and video commentary by Chief Financial Officer […]

    Ebix launches GeniEbix – a New Generation Artificial Intelligence and Machine Learning Solution to Power its Insurance Exchanges and Enterprise Platforms

    {March 30th, 2019} by Ebix, Inc.

    JOHNS CREEK, Ga., March 29, 2019 (GLOBE NEWSWIRE) — Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, healthcare and e-learning industries today announced the launch of GeniEbix – a technology initiative that combines the application of Artificial Intelligence (AI), Natural Language Processing (NLP), Robotics Process […]

    Resuscitating Life Insurance for the Digital Age

    {March 30th, 2019} by Tony Laudato

    The shock of the global financial crisis put life insurance, as an industry, on the back foot. A period of de-risking and retrenchment inevitably followed as companies looked to consolidate their positions and weather the storm. A decade on, and much of this necessary work has been done. The life insurance sector is on a […]

    Maryland Lawmakers Get Earful On Proposed Broker Fiduciary Rule

    {March 30th, 2019} by Tracey Longo

    Those both for and against Maryland legislation that would put brokers and insurance agents under a state fidicuary rule testified before state legislators on Wednesday. Securities industry representatives told Maryland lawmakers that they should let the SEC finalize its “best-interest’ advisor standard before considering a law that would blanket registered reps and hybrid advisors in […]

    Advisor Files Class Action Suit Over Cut Commissions

    {March 29th, 2019} by Diana Britton

    Stephen Cook, a Dallas-based financial advisor affiliated with Triad Advisors, has filed a class action lawsuit against Ohio National Life Insurance Company and its affiliates for cutting trail commissions on annuity contracts with guaranteed minimum income benefit riders. The class is being represented by Cincinnati-based law firm Helmer, Martins, Rice & Popham, Co., L.P.A. and […]

    Women Feel More Vulnerable to Retirement Risks

    {March 29th, 2019} by Lee Barney

    Women feel far more vulnerable to retirement risks than men, according to LIMRA-SRI. Thirty-one percent of women fear they will outlive their assets. Thirty-five percent expect to face significant health care costs in retirement, and 31% think they will incur long-term care costs. The figures for men, respectively, are 25%, 27% and 28%. Click HERE […]

    Five First Ladies Of Finance

    {March 29th, 2019} by Cassie Miller

    March is Women’s History Month. As such, it’s the perfect time to celebrate the historic women who paved the way for all of the women working in the financial services industry by acknowledging the triumphs and obstacles they faced and sharing their stories. While there are many more notable women to know, here are five […]

    Sears tells retirees to pay for their own life insurance

    {March 28th, 2019} by Kate Gibson

    In February, the roughly 40,000 people still employed at Sears learned they continue to have jobs, at least for awhile, after a bankruptcy judge approved Eddie Lampert’s bid to buy what remains of the retailer out of bankruptcy. But this month, an undisclosed number of Sears’ 90,000 retirees learned the retailer had ended their life […]

    The 10 Key Facts to Understanding Annuities

    {March 28th, 2019} by Robert Bloink and William H. Byrnes

    For an expanded version in pdf, with fuller explanations, check out: Top 10 Key Facts to Understanding Annuities

    Industry Groups Seek To ‘Speak With One Voice’

    {March 28th, 2019} by Susan Rupe

    Six insurance industry professional associations and four life insurance carriers have joined forces to address issues that affect the industry and their respective members. The Industry Alignment Group will mark its third anniversary May 1. The leadership teams of the associations have been meeting regularly since 2016 to discuss “what we might be able to […]

    Women to Watch: Karen Schaeffer, Rachel Moran honored at fourth annual luncheon

    {March 27th, 2019} by Ryan W. Neal

    InvestmentNews honored 22 women for their outstanding work in the financial advice industry on Thursday at the fourth annual Women to Watch luncheon. Click HERE to read the full story via InvestmentNews.

    Judge clears way for broker pay lawsuit against Ameriprise

    {March 27th, 2019} by Kenneth Corbin

    A federal judge has denied Ameriprise’s attempt to dismiss a lawsuit alleging that the firm withheld reimbursement payments and wages from an advisor, allowing a class-action case that could shine an unwelcome spotlight on Wall Street’s compensation and employment practices to proceed. Michael Saunders, who was based in Woodland Hills, California, alleges that Ameriprise extended […]

    State-Level Fiduciary Rules Will Face Barrage of Litigation

    {March 27th, 2019} by Alex Padalka

    As a subcommittee of the House Financial Services Committee gets ready to hear testimony on the SEC’s proposed regulations on broker and investment advisor conduct today, several states are pushing ahead with state-level fiduciary rules — but they’ll likely face challenges in the courts, according to news reports. New York state legislators have recently introduced a bill that […]

    Better to have no rule at all, Reg BI critics say

    {March 27th, 2019} by Kenneth Corbin

    WASHINGTON — Some say don’t let the perfect be the enemy of the good. Hard-line fiduciary advocates aren’t buying that old chestnut. The SEC’s proposal for new broker regulations, if finalized in its current form, would actually be more harmful to investors than no rule at all, witnesses told lawmakers at a House subcommittee hearing […]

    New York Life announces strong 2018 financial results, surpasses $1 trillion of individual life insurance in force in U.S.

    {March 27th, 2019} by New York Life

    NEW YORK, March 12, 2019 – New York Life, America’s largest mutual life insurer, today announced strong financial results for 2018, marked by record company highs in surplus, life insurance and annuity sales, and operating earnings. The company exceeded $1 trillion of individual life insurance in force in the United States in 2018 and paid the […]

    Symetra Enters Fast-Growing Registered Indexed Annuity Space with Symetra Trek

    {March 27th, 2019} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company, a leading fixed annuity provider, has launched Symetra Trek(SM), an individual, single-premium deferred annuity with index-linked interest options, including the proprietary PIMCO Equity Fusion Index. The newest addition to Symetra’s broad product suite joins the fastest-growing category in the annuities space as Q4 sales of registered indexed-linked annuities topped $3 […]

    Athene and Annexus Announce Expanded Annuity Lineup

    {March 27th, 2019} by Athene USA

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Athene USA (“Athene”), a leading provider of retirement savings products, and Annexus, a leading independent designer of fixed indexed annuities (FIAs), announced new enhancements to the Athene® BCA®suite of FIAs. The new BCA 2.0 FIA includes new indices designed by two renowned economists: Yale Professor Robert Shiller and Professor Jeremy Siegel of […]

    Jackson National loses top annuity sales spot to AIG

    {March 26th, 2019} by Greg Iacurci

    Jackson National Life Insurance Co. ceded its six-year reign atop the annuity sales leader board to American International Group Inc. last year, as AIG rode a wave of strong fixed and indexed annuity sales to overtake the former No. 1. Click HERE to read the full story via InvestmentNews.     ………………………………………………………………………………………….   Sheryl Moore, owner of […]

    Transamerica and Annexus Launch Enhanced Suite of Fixed Index Annuities

    {March 26th, 2019} by Transamerica

    BALTIMORE, March 25, 2019 /PRNewswire/ — Transamerica announced enhancements to its current fixed index annuities and the launch of a new product suite in an alliance with Annexus to expand distribution. The Transamerica Secure Retirement Index® II Annuity is designed to help address Americans’ objectives for consistency and flexibility while providing a source of guaranteed lifetime retirement income. “We […]

    Brokers vow to pull business if Nevada sets fiduciary duty

    {March 26th, 2019} by Kenneth Corbin

    Several of the nation’s leading broker-dealers are threatening to stop doing business in Nevada if the state moves to impose a fiduciary duty on the industry. Those firms, including Morgan Stanley, Charles Schwab, TD Ameritrade and Wells Fargo, have all submitted letters to the state warning that if the fiduciary rule took effect, it would […]

    NAIFA Launches Long-Term Care Planning Center

    {March 26th, 2019} by Allison Bell

    The National Association of Insurance and Financial Advisors is introducing a new long-term care (LTC) planning program today, in Chicago, at the Intercompany Long Term Care Insurance Conference. The new NAIFA Limited & Extended Care Planning Center will offer professional designation programs and other resources for insurance agents and financial advisors, NAIFA said in a […]

    Global Atlantic Assumes Some Ameriprise Annuity Risk

    {March 26th, 2019} by Allison Bell

    A unit of Global Atlantic Financial Group has agreed to take responsibility for $1.7 billion in fixed annuity obligations off the hands of Ameriprise Financial Inc., Ameriprise announced today. Commonwealth Annuity and Life Insurance Company is the Global Atlantic unit reinsuring the block of annuities. RiverSource Life Insurance Company is the Ameriprise unit that has […]

    Analysts Grade Variable Annuity Issuers’ Stormproofing

    {March 26th, 2019} by Allison Bell

    Life insurance company executives sounded calm when they talked about how their annuity operations did in the fourth quarter. No major life reinsurers or derivatives counterparties raced into liquidation. Analysts at Moody’s Investors Service say they looked hard at the issuers’ fourth-quarter financial statements and believe that the issuers’ variable annuity units really did hold […]

    The 4% Retirement Rule Is Back: J.P. Morgan

    {March 26th, 2019} by Bernice Napach

    Advisors working with clients nearing or in retirement may be happy to learn that despite the late economic and business cycle, which will likely mean lower equity returns, the expectations are not all negative, according to the latest Guide to Retirement from J.P. Morgan Asset Management. “Cash and fixed income are suddenly more attractive assets [for retirement […]

    Transamerica Adds ICE Data Indices Index to New Annuity

    {March 26th, 2019} by Allison Bell

    Transamerica has worked with Annexus — an indexed annuity designer — to develop a new  indexed annuity contract, the Transamerica Secure Retirement Index II Annuity contract. The contract offers purchasers access to the NYSE Expanded Opportunities Index. The NYSE Expanded Opportunities Index comes from ICE Data Indices. Like the New York Stock Exchange, ICE Data is a […]

    Structured Annuities Soften Downturns

    {March 26th, 2019} by David Hanzlik

    Historically, individual investors who wanted to protect against the possibility of big market drops would boost their fixed-income allocations at the expense of equities. While that approach has held up reasonably well in some downturns, it has not served investors as well in others — particularly the last major selloff in 2007-2008, when historical correlations […]

    FINRA May Nix Suitability Rule Due to Reg BI Overlap

    {March 26th, 2019} by Melanie Waddell

    The Financial Industry Regulatory Authority, as the enforcer of the Securities and Exchange Commission’s upcoming Regulation Best Interest, will either revamp its current suitability rule once Reg BI is final or eliminate it, Robert Colby, FINRA’s chief legal officer, said Tuesday. “There’s a lot of overlap between the existing suitability rule and the direction that […]

    Proposed rules issued for information reporting for life insurance contract transactions

    {March 26th, 2019} by Sally P. Schreiber, J.D.

    The IRS proposed regulations (REG-103083-18) under Sec. 6050Y, which governs reporting obligations for reportable policy sales of life insurance contracts and payments of reportable death benefits. The rules also provide guidance on the amount of death benefits excluded from gross income under Sec. 101(a)(3) following a reportable policy sale. Both provisions were added to the […]

    AIG to rebrand VALIC retirement plan unit

    {March 26th, 2019} by Allison Bell

    American International Group Inc. says it is changing the name it uses for its VALIC retirement plan unit to AIG Retirement Services. Nonprofit retirement plan The unit provides retirement plans and related products and services for K-12 schools, colleges, health care organizations, charitable organizations and other nonprofit employers. AIG manages a total of about $230 billion in retirement […]

    Voya Financial Advisors exposes more sensitive adviser information on its website

    {March 26th, 2019} by Bruce Kelly

    Weeks after a computer glitch risked exposing the Social Security numbers of its 1,800 registered reps and financial advisers, Voya Financial Advisors Inc. again revealed sensitive information about its advisers. Click HERE to read the full story via InvestmentNews. 

    NAFA Provides Support to Critical Industry Victory

    {March 26th, 2019} by NAFA

    WASHINGTON (Mar. 21, 2019) — In a unanimous decision, the Illinois Supreme Court has affirmed the judgment of the Illinois Appellate Court and ruled that fixed indexed annuities are not securities under Illinois state law. This long-awaited decision reinforces the work NAFA and the fixed annuity industry as a whole are doing to protect the future […]

    Wells Fargo Backs CEO Sloan Amid Rumors He’s Being Replaced

    {March 26th, 2019} by Hannah Levitt and Michelle Kim

    The New York Post reported Thursday that members of the bank’s board are in talks with Harvey Schwartz to take over as CEO, citing unidentified people. The bank reiterated the statement of support for Sloan that it gave last year, when the Post said the board was talking with former Goldman Sachs president Gary Cohn. […]

    FINRA Plans New Rules for Bad Brokers

    {March 26th, 2019} by Melanie Waddell

    The Financial Industry Regulatory Authority plans to request feedback via a Regulatory Notice soon on new rules related to broker-dealers with a disproportionately high number of regulatory disclosure events by the firm and/or its registered reps. Susan Wolburgh Jenah, a member of FINRA’s regulatory policy committee, said in a video taken at the March 13 […]

    TIAA Enhances Retirement Income Profile Tool

    {March 26th, 2019} by TIAA

    TIAA announced enhancements to its Retirement Profile tool, a feature of the company’s Preparing for Retirement experience. Available to all customers, the tool analyzes an individual’s real-time account information, along with their responses to a handful of simple lifestyle and financial questions, to give them a view of what their income in retirement might look […]

    Actuaries Press for Tougher Variable Annuity Capital Testing Approach

    {March 26th, 2019} by Allison Bell

    Actuarial consultants at Oliver Wyman Inc. are clashing with the American Council of Life Insurers (ACLI) over how companies should verify whether they have enough capital to back their variable annuity obligations. Oliver Wyman consultants say issuers should use a tougher forecasting method. The ACLI says regulators should let issuers use a less harsh forecasting method. […]

    What Advisors Want from Annuity Issuers

    {March 26th, 2019} by Kerry Pechter

    Starting more than two decades ago, many of the major life insurance companies switched to distributing their products through independent intermediaries instead of through captive sales forces. The change forced insurers to compete against each other for advisors’ loyalty—by paying attractive commissions and/or issuing appealing products. Click HERE to read the full story via RIJ; […]

    Fixed Annuities, Unchained!

    {March 26th, 2019} by Editorial Staff

    Fixed deferred annuities, which were once eclipsed by variable deferred annuities, confined to the insurance agent channel, and threatened by federal regulation, have emerged as the chief bread-winners for many life insurers. Click HERE to read the full story via RIJ; subscription required.    ……………………………………………………………………………………………………. “While sales were down for 2017 because of the Department […]

    Measuring the Costs of Fresh Talent

    {March 26th, 2019} by Rich Blake

    The cry for a more accelerated youth movement in the financial advisory space keeps growing louder. Whether to augment a graying team amidst changing demographics — or to shake up a talent roster based on cost effectiveness — the push is on within the industry to fill lower-rung roles, such as associate advisor and relationship […]

    2018 Annuity Sales Smash Records Across The Board, Wink Reports

    {March 26th, 2019} by Wire Reports

    Total fourth-quarter non-variable deferred annuity sales were $32.6 billion, up more than 10.1 percent over the previous quarter and up more than 54.4 percent over the same period last year, according to Wink’s Sales & Market Report. Total non-variable deferred annuities sales for 2018 were $113.6 billion, an increase of 29.1 percent over 2017. Non-variable […]

    Sexual harassment still raging in insurance – report

    {March 26th, 2019} by Paul Lucas

    Ouch. Just when insurance thought it was rebuilding its reputation through events like the Dive In Festival and Insurance Business’s own Women In Insurance events, the industry has been slammed by a damning new report that describes the London insurance market as “the most archaic corner left in global finance.” The report, published in Bloomberg Businessweek and written by Gavin Finch, […]

    VALIC Rebrands to AIG Retirement Services

    {March 26th, 2019} by VALIC

    HOUSTON–(BUSINESS WIRE)–VALIC, a leading retirement plan provider for healthcare, K-12, higher education, government, religious, charitable and other not-for-profit organizations, will now be known as AIG Retirement Services. “The name change to AIG Retirement Services allows us to fully leverage the strength, scale and brand of our parent company, AIG, a Fortune Global 500 leader with […]

    Athene Explores Consumer Biases in Retirement Savings Through New Online Video Series

    {March 26th, 2019} by Athene USA

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Athene USA (“Athene”), a leading provider of retirement savings products, announced the launch of a four-part video series created in partnership with Wall Street Journal Custom Content examining common behavioral biases that hinder retirement planning. Retirement planning and behavior disconnect Today’s retirees are facing unique financial challenges compared to previous generations, […]

    New leader quick to update IRI’s mission and vision

    {March 26th, 2019} by Insurance Forums Staff

    Wayne Chopus’ tenure as the Insured Retirement Institute’s (IRI) president and CEO is only 80 days old but already he has introduced a stream of structural and process changes to position the organization for further success. Chopus told his personal story of what drives his passion for the retirement income industry and how he rose […]

    WHAT’S NEW IN LIFE INSURANCE: 1st Quarter, 2019

    {March 26th, 2019} 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: 1st Quarter, 2019

    {March 26th, 2019} 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. […]

    Fiduciary duty and the choice between active and passive

    {March 26th, 2019} by Blaine F. Aikin

    There is nothing passive about being a fiduciary investment adviser, even when it comes to making decisions about passive investing. Click HERE to read the full story via InvestmentNews.

    First of its Kind Mobile Platform Allows Life Insurance Applicants Easier and Faster Access to Medical Results

    {March 26th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Life insurance applicants can now utilize an industry-first interactive, mobile platform to review their underwriting medical exam and laboratory results seamlessly and securely thanks to Lincoln Financial Group’s collaboration with Clinical Reference Laboratory, Inc. (CRL). The new mobile platform integrates applicants’ lab reports with CRL’s AccessMyLab™ mobile application, making it easier and faster […]

    Guardian Announces Record 2018 Earnings and Capital Levels

    {March 26th, 2019} by The Guardian Life Insurance Company of America

    NEW YORK, March 25, 2019 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian), a mutual life insurer and a leading provider of whole life, dental, individual disability income insurance and employee benefits, today announced 2018 year-end results that included record earnings and capital levels. Guardian had $1.6 billion in operating income before taxes and dividends to policyholders; achieved […]

    Could life insurance be used to finance cancer treatments?

    {March 26th, 2019} by CBR

    Modern cancer treatments are growing increasingly successful but unaffordable. Could life-insurance policies be used to help pay patients’ out-of-pocket costs? Research by Chicago Booth’s Ralph S.J. Koijen and Columbia’s Stijn Van Nieuwerburgh argues this would be good for both patients and life insurers, as it would help patients access treatment and maintain financial stability while […]

    Avoiding An RMD Tax Time Surprise

    {March 25th, 2019} by Susan Rupe

    As the 2018 income tax filing season heads down its final stretch, many Americans are finding themselves with surprise tax bills. One area that can lead to unwanted surprises come tax season is required minimum distributions. A recent study by Allianz Life found many Americans are concerned about understanding and managing the impacts on taxes […]

    Massachusetts Advisor Sentenced In $3M Fraud

    {March 23rd, 2019} by Targeted News Service (Press Release)

    BOSTON, Massachusetts, March 21 — The U.S. Attorney for the District of Massachusetts, Andrew E. Lelling, issued the following news release: An Orleans investment adviser was sentenced yesterday in federal court in Boston for defrauding her clients of more than $3 million and using those funds for her own expenses. Kimberly Kitts, 51, was sentenced […]

    7 Steps To Help Your Parents Avoid Expensive Life Insurance Mistakes

    {March 23rd, 2019} by Robert Mauterstock

    Do your parents have life insurance policies? Are the policies still in force? How much are they paying for these policies? Do they still need them? These are all questions that you must answer to determine what to do with your parents’ life insurance. Follow these seven steps to make sure you and your parents […]

    New Milliman study reveals favorable results for life/annuity and LTC combination products

    {March 22nd, 2019} by Milliman

    SEATTLE, March 21, 2019 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, announces the results of a first-of-its-kind, industry-wide study that examines insurers’ experience with combination products – those that couple life or annuity policies with Long-Term Care (LTC) or Chronic Illness (CI) riders. The study, which includes data from 11 insurers (ten using life […]

    AIG Back On Top In Annuities Sales Rankings

    {March 21st, 2019} by Jacqueline Sergeant

    Last year, AIG Companies helped create the Alliance for Lifetime Income to educate the public and advisors about the advantages of lifetime income products like annuities. AIG was one of the biggest companies in that coalition, and it’s also now a beneficiary of an annuity sales increase. Click HERE to read the full story via […]

    Insurance Technologies Reports Strong 2018 Financial Results and Continued Client Growth

    {March 21st, 2019} by Insurance Technologies

    COLORADO SPRINGS, CO, March 19, 2019 – Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, reports strong financial results for 2018 with exceptional growth across all product offerings. FireLight®, a multi-carrier sales platform, continues to see remarkable growth, becoming the fastest growing order entry solution based on […]

    Ameriprise offloads $1.7 billion in fixed annuities

    {March 21st, 2019} by Greg Iacurci

    Ameriprise Financial Inc. has offloaded $1.7 billion in fixed-annuity liabilities to Global Atlantic Financial Group, representing roughly 20% of the company’s fixed-annuity account balances, the firm announced Tuesday. Click HERE to read the full article via InvestmentNews; registration required.

    Non-Variable Annuity Sales Near Warp Speed: Wink

    {March 21st, 2019} by Allison Bell

    Sales of U.S. individual non-variable annuities rocketed to $33 billion in the fourth quarter of 2018. That’s up 54% from the total for the fourth quarter of 2017, according to new survey data from Wink Inc. That enormous increase follows a 46% year-over-year sales increase in the third quarter. Wink based the latest non-variable annuity […]

    Best’s Special Report: Preliminary 2018 Results Show Total Income for U.S. Life/Annuity Industry Up 8.5%

    {March 21st, 2019} by AM Best

    Oldwick – The U.S. life/annuity industry’s total income for year-end 2018 increased 8.5% from the prior year, attributable to $54.1 billion increase in other income that offset modest increases in premium and annuity considerations and net investment income, according to an AM Best analysis. These preliminary financial results are detailed in a new Best’s Special Report, titled, “First […]

    Raymond James Chief Financial Officer Jeff Julien to retire as CFO

    {March 20th, 2019} by Raymond James

    ST. PETERSBURG, Fla. – Raymond James Financial (NYSE: RJF) Executive Vice President, Finance and CFO Jeff Julien has notified the firm’s board of directors of his intention to retire as CFO effective December 31, 2019. He will continue to serve as executive vice president of finance and as a senior adviser for a period of […]

    Covr Financial Technologies launches industry-leading Long-Term Care comparative tool for financial advisors

    {March 20th, 2019} by Covr Financial Technologies

    BOISE, Idaho, March 14, 2019 /PRNewswire/ — Covr Financial Technologies, a digital life insurance platform for financial institutions, today announced the launch of an industry-leading Covr LTC Estimator for financial advisors, the first digitally enabled asset-based long-term care multi-carrier comparison tool. Long-term care insurance protects the assets of the senior population in the case of a serious […]

    How the rise of insurtech is impacting the insurance industry in an unexpected way

    {March 20th, 2019} by Alicja Grzadkowska

    The insurtech movement isn’t just infusing the insurance supply chain with new solutions – it’s also bringing more diversity into the industry, according to one expert. “We’ve seen a lot more women coming into the field than we did before, especially on the technology side,” said Becky Schroeder (pictured), senior vice president of sales and […]

    House Democrats call on SEC to strengthen Regulation Best Interest

    {March 20th, 2019} by Mark Schoeff Jr.

    House Democrats are calling on the Securities and Exchange Commission to strengthen its investment advice reform proposal. Click HERE to read the full story via InvestmentNews; registration required. 

    Genworth Acquisition Delayed Again As China And Canada Review Plan

    {March 20th, 2019} by Richmond Times-Dispatch (VA)

    With approvals from government regulators in China and Canada still outstanding, Henrico-County-based Genworth Financial Inc. has again delayed the closing of its planned acquisition by a China-based investment company. Genworth and China Oceanwide Holdings Group Co. Ltd announced the latest extension of their merger agreement late Thursday afternoon, just one day before the previous deadline […]

    BISA Announces 2019 Award Winners

    {March 20th, 2019} by BISA

    CHICAGO, IL – At the 2019 Annual Convention, the Bank Insurance & Securities Association (BISA) was pleased to announce and honor the award winners in the following categories: Circle of Excellence, Career Achievement, Diversity and Inclusion and Technology Innovation. “BISA is proud to recognize these distinguished individuals and organizations for their contributions to the industry,” […]

    Jackson Reports 2018 Financial Results

    {March 20th, 2019} by Jackson National Life Insurance Company

    LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced its full-year financial results, generating $2 billion in IFRS net income2 during 2018, the highest in company history. Jackson also reported $20.6 billion in sales and deposits, $2.5 billion in IFRS pre-tax operating income and adjusted capital of $5.5 billion, more than nine times the minimum regulatory […]

    New Lincoln Financial Group Research Reveals Need to Bridge the Gap Between Women’s Financial Planning Attitudes and Behaviors

    {March 20th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–As Americans celebrate Women’s History Month, new research released today from Lincoln Financial Group (NYSE:LNC) reveals that while women place high importance on planning for retirementand their family’s future, they are facing gaps that are keeping them from reaching the positive outcomes they seek. Good Intentions Falling Short According to Lincoln Financial’s Love and Responsibility […]

    ‘There’s More Work To Be Done:’ Reg BI Faces Criticism At Congressional Hearing

    {March 20th, 2019} by Cassie Miller

    The Security and Exchange Commission’s Regulation Best Interest standard was able to find some agreement among representatives at a congressional committee hearing– the rule still needs work. The partisan split appeared over the degree of change that Reg BI needs, with Republicans suggesting adjustments and Democrats demanding an overhaul, during a two-hour hearing on March […]

    Ameriprise Financial Announces Fixed Annuity Reinsurance Transaction with Global Atlantic

    {March 19th, 2019} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) (“the company”) announced today that its insurance subsidiary, RiverSource Life Insurance Company, has entered into an agreement with Commonwealth Annuity and Life Insurance Company, a subsidiary of Global Atlantic Financial Group, to reinsure approximately $1.7 billion of fixed annuity policies sold through third parties, which is approximately 20 percent […]

    SEC Using ‘Best Interest’ as a ‘Marketing Slogan’: Phyllis Borzi

    {March 19th, 2019} by Jane Wollman Rusoff

    Phyllis Borzi, Labor Department assistant secretary for the Employee Benefits Security Administration (EBSA) from 2009 to 2017 and key architect of the department’s now-defunct fiduciary rule for advising retirement accounts, spares no disdain for the Securities and Exchange Commission’s proposed Regulation Best Interest. In an interview with ThinkAdvisor, she dismisses Reg BI’s use of “best […]

    Selling by Generation: Exclusive MDRT Producer Roundtable

    {March 19th, 2019} by Brian Anderson

    Recently, three distinguished members of the Million Dollar Round Table (MDRT) – Sandro Forte, DipPFS, CSP, Tony Gordon and Brenton D. Harrison, agreed to talk with Insurance Forums for a “Q&A” about how they have successfully navigated the often challenging waters of dealing with clients from different generations. In today’s Part 1, we’ll get a […]

    Wink, Inc. Releases 4th Quarter, 2018 Deferred Non-Variable and Structured Annuity Sales Results

    {March 19th, 2019} by Press Release

    — FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE   ANNUITY SALES ANNIHILATE PREVIOUS RECORDS! Wink, Inc. Releases 4th Quarter, 2018 Deferred Non-Variable and Structured Annuity Sales Results Des Moines, Iowa. March 19, 2019– Wink’s Sales & Market Report, the insurance industry’s #1 resource for indexed annuity sales data since 1997, is in its third year of […]


    {March 19th, 2019} by Sheryl J. Moore

    Indexed Annuity Sales for the fourth quarter of 2018 were $19,202 million, compared with sales of $13,621 million for the fourth quarter of 2017. Fourth quarter indexed annuity sales were up more than 8% when compared to the previous quarter, and up nearly 41% when compared to the same period last year. This was a […]

    UBS Study of Women Investors Reveals the “Divide and Conquer” Approach to Managing Finances is a Multi-Generational Problem

    {March 19th, 2019} by UBS Global Wealth Management

    NEW YORK–(BUSINESS WIRE)–UBS Global Wealth Management today launched the first global Investor Watch report of 2019, this time surveying women investors around the world on their approach to their financial well-being. The report has found that the traditional “divide and conquer” approach to managing finances, where women typically take care of day-to-day expenses and men […]

    HD Vest-1st Global Deal: ‘The Consolidation Continues’

    {March 19th, 2019} by Janet Levaux

    Industry watchers are labeling HD Vest owner Blucora’s planned acquisition of tax-focused broker-dealer 1st Global as “big news, but not at all surprising,” according to popular blogger and finanial planner Michael Kitces. “Blucora owns TaxAct [software] as well, and was already building synergies around HD Vest’s base of CPA-centric advisors,” Kitces said on Twitter. “1st […]

    Nationwide Advisory Solutions Launches New Variable Annuity with Lifetime Income Guarantee Designed Expressly for RIAs and Fee-Based Advisors

    {March 19th, 2019} by Nationwide Advisory Solutions

    LOUISVILLE, Ky., March 13, 2019 /PRNewswire/ — Nationwide Advisory Solutions, a leading innovator of investing solutions for registered investment advisors (RIAs), fee-based advisors and the clients they serve, has achieved another milestone with the launch of Nationwide Advisory Retirement Income Annuity (NARIA)℠, a new variable annuity (VA) with an income guarantee designed expressly for RIAs and fee-based advisors to align […]

    Genworth Has Canada Problems

    {March 19th, 2019} by Allison Bell

    China Oceanwide Holdings Group Co. Ltd. and Genworth Financial Inc. announced Thursday that China Oceanwide is still trying to acquire Genworth. Genworth reported that one of the remaining obstacles is Canadian regulators’ worries about data security. “Canadian regulators have not outlined a timeframe for the completion of their review of the transaction or requested any […]

    Indexed Life Sales Keep Growing: Wink

    {March 19th, 2019} by Allison Bell

    U.S. sales of indexed life insurance continued to grow in the fourth quarter of 2018, according to new data from Wink Inc. Indexed life sales increased to $617 million, up 7.3% from the total recorded in the fourth quarter of 2017. For all of 2018, indexed life sales climbed 11%, to $2.2 billion. Wink has published […]

    Nationwide Aims Variable Annuity, With Lifetime Income Feature, at Fee-Based Advisors

    {March 19th, 2019} by Allison Bell

    An arm of Nationwide Mutual Insurance Company is courting fee-based advisors with a variable annuity that comes with a lifetime income benefit. Nationwide Advisory Solutions has introduced the Nationwide Advisory Retirement Income Annuity (NARIA) contract. The contract gives purchasers access to about 130 funds in 25 fund families. One optional feature, the NARIA Retirement Income Developer […]

    Regulators Aim to Make Troubled Insurers Work Better

    {March 19th, 2019} by Allison Bell

    State insurance regulators are trying to develop better strategies for dealing with seriously troubled insurers outside of formal receivership proceedings. The Financial Condition Committee — an arm of the National Association of Insurance Commissioners (NAIC) — has set up a new Restructuring Mechanisms Working Group. The working group will be looking at efforts to transfer the […]

    Chuck Ritzke to Lead ICMG

    {March 19th, 2019} by Allison Bell

    Members of the Inter-Company Marketing Group (ICMG) have elected Chuck Ritzke to be the group’s president in 2019. The ICMG is a McPherson, Kansas-based networking group for executives at insurance and financial services companies. Ritzke is a consulting actuary, the founder of Problem Solving Enterprises, and the author of many articles for financial services industry […]

    Where in the World Is Your Income Going?

    {March 19th, 2019} by Allison Bell

    Life insurance agent income trends look a lot better in some other countries than in the United States. Tim Calvert, a partner at Boston Consulting Group (BCG), and Nathalia Bellizia, a BCG principal, have included a little data on that subject, in a new report distributed by Morgan Stanley Research, on where life insurance agency […]

    10 Commandments for Newbie Agents and Advisors

    {March 19th, 2019} by Bryce Sanders

    People new to the business often feel like they are drinking from a fire hose. There’s so much to learn and the advice they receive is often conflicting. Is social media the new cold call? Should I be diving into social prospecting? Why must I attend so many meetings? If there were 10 commandments for […]

    5 Things to Know About How Variable Annuities Handled the Q4 Storm

    {March 19th, 2019} by Allison Bell

    Life insurance company executives sounded calm when they talked about how their annuity operations did in the fourth quarter. No major life reinsurers or derivatives counterparties raced into liquidation. Analysts at Moody’s Investors Service say they looked hard at the issuers’ fourth-quarter financial statements and believe that the issuers’ variable annuity units really did hold […]

    LifeMark Partners to offer every consumer complimentary lifetime subscriptions to LegacyShield®.

    {March 19th, 2019} by LegacyShield Solutions, Inc.

    Jacksonville, Florida, March 19, 2019 – LegacyShield Solutions, Inc., the leader in providing the insurance and financial services industry with an all-encompassing solution, enabling companies and advisors to build and protect their clients’ legacies through a digital growth platform, announces that LifeMark Partners, the insurance industry’s leader in innovative solutions for member agencies, is offering […]

    Wells Fargo Said to Be Selling Retirement Plan Business to Principal Financial

    {March 19th, 2019} by Janet Levaux

    Wells Fargo is reportedly in talks to sell its retirement-plan services business to Principal Financial Group for as much as $1 billion or more. The move comes as Wells Fargo tries to trim its operations to cope with the Federal Reserve-imposed cap it has on asset growth as a result of its fake-accounts scandals. According […]

    Financial literacy could make advice more accessible to women of color

    {March 19th, 2019} by Ryan W. Neal

    Financial illiteracy in the U.S. hits women and women of color especially hard, according to several participants in an InvestmentNews workshop on the role financial literacy can play in making the advice industry more diverse and inclusive. The half-day think tank was held directly before this year’s Women to Watch awards luncheon. Click HERE to […]

    Reinventing Life Insurance Agency Distribution Globally

    {March 19th, 2019} by Jamie Johnson

    NEW YORK, March 18, 2019 /PRNewswire/ — Life insurers globally face multiple challenges and among the most critical is the sustainability of their agency distribution models. After decades of limited innovation, distribution is on the cusp of major change, which will unlock benefits for all stakeholders, according to a joint research report from Boston Consulting Group (BCG) and Morgan Stanley […]

    Nevada Fiduciary Rule Would Scare Off Morgan Stanley, TD Ameritrade

    {March 19th, 2019} by Melanie Waddell

    Two of the nation’s top brokerage firms — Morgan Stanley and TD Ameritrade — are warning the Nevada Securities Division that if the state moves ahead with its fiduciary rule in its current form, they’ll stop serving customers in the state. Meanwhile, Illinois appears to have halted moving ahead with its Investment Advisor Disclosure Act, […]

    Principal-Wells Fargo retirement deal would be among largest ever

    {March 19th, 2019} by Greg Iacurci

    There would be a new behemoth among record keepers of defined-contribution plans if Principal Financial Group were to follow through on a reported deal to acquire Wells Fargo & Co.’s retirement-plan unit. Click HERE to read the full story via InvestmentNews; registration required. 

    FPA butts heads with Michael Kitces over $8 million in ‘missing’ funds

    {March 19th, 2019} by Jeff Benjamin

    The Financial Planning Association was forced into scramble mode Friday after a blog post from Michael Kitces alleged that the FPA was responsible for nearly $8 million worth of “missing” revenue over the past decade. Click HERE to read the full story via InvestmentNews; registration required. 

    Kiplinger’s: Annuities Can Help Clients Afford Long-Term Care

    {March 18th, 2019} by Richmond Times-Dispatch (VA)

    Long-term-care costs can shatter your retirement nest egg, but here are some ways to pay for these potentially big bills. Traditional long-term-care policies: These are usually the most efficient way to cover costs if you end up needing care. You choose the daily or monthly benefit and the benefit period, and usually an inflation adjustment […]

    Principal Financial close to Wells Fargo retirement unit acquisition-sources

    {March 18th, 2019} by David French

    (Reuters) – Principal Financial Group Inc is in advanced talks to acquire Wells Fargo & Co’s retirement plan services business, in a deal that could exceed $1 billion, people familiar with the matter said on Sunday. Wells Fargo has been seeking to streamline its business as it grapples with the fallout of customer abuse scandals. […]

    The Many Indices Available on Indexed Annuities

    {March 18th, 2019} by Sheryl J. Moore

      Hi everyone. I have to make this short, as we are preparing 4Q2018 sales.   I recently participated in a call for the National Association of Insurance Commissioners (NAIC), regarding the matter of indexed annuities and the illustrations that accompany them.   For those who are interested, the following indices are available on indexed […]

    Indexed universal life insurance sales continue hot streak

    {March 16th, 2019} by Greg Iacurci

    Insurers sold indexed universal life insurance policies at record levels last year as consumers sought a measure of protection from stock market volatility and more insurers offered product. Click HERE to read the full story via InvestmentNews; registration required.    …………………………………………………………………………………… Article Excerpt: Advisers and consumers turned more to indexed universal life last year amid […]

    Genworth move could signal big shift in distribution of long-term-care insurance

    {March 15th, 2019} by Greg Iacurci

    Genworth Financial Inc.’s recent decision to halt sales of individual long-term-care insurance policies through brokers and agents and just go directly to consumers could represent an emerging trend among insurers. Click HERE to read the full story via InvestmentNews; registration required. 

    Wink, Inc. Releases Fourth Quarter, 2018 Life Sales Results

    {March 15th, 2019} by Press Release

    FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE   Indexed Life Sales SET NEW ALL-TIME HIGH!     Wink, Inc. Releases Fourth Quarter, 2018 Life Sales Results Des Moines, Iowa. March 15, 2019– Wink, Inc. released fourth quarter, 2018 life sales results in its 86th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report, the insurance […]

    Variable Universal Life Won Life Insurance in 2018

    {March 15th, 2019} by Allison Bell

    U.S. sales of individual life insurance were just okay in 2018, but sales of individual variable universal life (VUL) insurance were great. Annualized premiums from new U.S. individual life policies sold increased by less than 0.5% in 2018, and the total number of new individual policies sold fell by about 0.5%, according to new issuer survey […]


    {March 15th, 2019} by Sheryl J. Moore

    Indexed Life Sales for the fourth quarter of 2018 were $617 million, compared with sales of $575 million for the fourth quarter of 2017. Fourth quarter indexed life sales were up nearly 17% when compared with the previous quarter, and up more than 7% when compared to the same period last year. This was a […]

    Bankers Life Study: Boomers are More Prepared for Death Than Life – And It’s Not Getting Better

    {March 15th, 2019} by Bankers Life

    CHICAGO, March 12, 2019 /PRNewswire/ — Today’s baby boomers are more financially prepared for death than life, according to the latest research from the Bankers Life Center for a Secure Retirement®. The new study by the national insurance provider revealed that 81% of middle-income boomers have made at least one formal preparation for when they pass away, while only 32% […]

    This increasing client risk will change advisor practices. Here’s why

    {March 14th, 2019} by Lavanya Nair

    When asked what’s the biggest impact on their practice, advisors didn’t point to artificial intelligence, robos or even climate change. Instead, they’re fixated on longevity risk. Clients’ ever-increasing lifespans are challenging assumptions about spending rates, savings and more, say advisors, who singled out longevity in a survey released last month by Schwab Advisor Services. In the survey, […]

    Symetra Awards Top Honor for Community Service to Bellevue Employee DeAnne Dodson

    {March 14th, 2019} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra, a national provider of employee benefits, annuities and life insurance, announced that DeAnne Dodson is the recipient of the company’s ninth-annual CEO Service Award. The award recognizes Symetra employees for exemplary community service. Dodson is an IT operations manager in Symetra’s Bellevue, Washington headquarters. “‘Swift to Serve’ is one of Symetra’s core […]

    Dallas ‘Money Doctor’ bilked clients out of $20m, SEC says

    {March 14th, 2019} by Ian Wenik

    Neil Gallagher, who was not registered with the SEC or Finra, allegedly ran a Ponzi scheme targeting elderly Christians. The prognosis for Dallas’ ‘Money Doctor’ may be terminal. In an unsealed complaint, originally filed on March 7, the Securities and Exchange Commission filed suit against Neil Gallagher, alleging that the radio personality perpetrated a Ponzi […]

    Talking Annuities with AIG’s Todd Solash

    {March 14th, 2019} by Kerry Pechter

    Although American International Group’s (AIG) property-casualty division withstood a big financial hit from natural disasters over the past year, the individual annuity segment of the global insurance company’s life and retirement business has continued to post strong sales. AIG has been pursuing a balanced product strategy, with competitive entries in the variable, fixed and index […]

    Former PIMCO CEO, Celebrities Charged in Bribery Scheme

    {March 14th, 2019} by 401kspecialistmag

    (401kspecialistmag) — Former PIMCO CEO Douglas Hodge is among a number of business executives, celebrities and coaches charged in a sweeping indictment alleging bribery in the admission of their children to elite universities. Hodge was PIMCO’s CEO from 2014 to 2016, a tumultuous time for the bond fund giant following the departure of the company’s founder and […]

    Ohio National Facing New Lawsuit Over Trail Comp Cut

    {March 13th, 2019} by John Hilton

    A new lawsuit was filed Monday challenging Ohio National’s decision to stop paying trail commissions on certain variable annuity contracts. Stephen K. Cook, an investment advisor representative with Triad Advisors, a Dallas, Texas broker-dealer, filed the class-action lawsuit in U.S. District Court for the Southern District of Ohio. Ohio National faces several lawsuits over its […]

    Best’s Special Report: U.S. Life/Health Ratings Upgrades Outpace Downgrades in 2018

    {March 12th, 2019} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Credit rating activity for the U.S. life/health (L/H) insurance industry was positive for a second-straight year in 2018, with upgrades outpacing downgrades and a decrease in the number of insurers placed under review, according to a new AM Best report. The Best’s Special Report, titled, “U.S. Life/Health Ratings Upgrades Outpace Downgrades in 2018,” states that improved risk-adjusted […]

    Athene USA Champions Financial Empowerment at BISA 2019 Convention

    {March 12th, 2019} by Athene USA

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Athene USA (“Athene”), a leading provider of retirement savings products, announced that it has donated $11,000 to Operation HOPE & HOPE Global Forum 2019, a non-profit that provides financial literacy empowerment and education to Americans of all ages. The donation was made as part of Athene’s presence during last week’s 2019 Bank Insurance […]

    New York Life Announces Strong 2018 Financial Results, Surpasses $1 Trillion of Individual Life Insurance in Force in U.S.

    {March 12th, 2019} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest mutual life insurer, today announced strong financial results for 2018, marked by record company highs in surplus, life insurance and annuity sales, and operating earnings. The company exceeded $1 trillion of individual life insurance in force in the United States in 2018 and paid the highest level of […]

    What Should Insurers Do Today To Prepare For Tomorrow?

    {March 12th, 2019} by EY Americas 2019 Insurance Outlook

    No or slow growth in revenues. Intense profit pressures. Constant flux from technology advancements and rising customer expectations. That’s what insurers have experienced in the recent past. Without bold action now, they risk seeing more of the same in 2019 and beyond. Non-life sectors have grown — albeit at low rates and mainly in health […]

    We do the work so you don’t have to!

    {March 12th, 2019} by Wink's RockStars

    We monitor a multitude of magazines, newspapers, websites, and trade journals on a daily basis for relevant industry news to send directly to your email inbox once a week in our weekly newsletter from our Chief Storyteller, Sheryl J. Moore. We value our relationships with media outlets because we want to continue being the first-to-know […]

    Nationwide Adds Guaranteed Withdrawal Annuity Feature

    {March 12th, 2019} by Allison Bell

    Annexus — an indexed annuity designer — has helped Nationwide develop a new lifetime withdrawal feature for a family of Nationwide indexed annuities. The new feature is the Nationwide High Point 365 Lifetime Income Benefit rider with Purchase Payment Bonus. Consumers can combine the feature with the Nationwide’s Nationwide New Heights indexed annuities. The new feature is […]

    Vantis Life Honored with 2019 BISA Technology Innovation Award

    {March 12th, 2019} by Vantis Life Insurance Company

    WINDSOR, Conn.–(BUSINESS WIRE)–Vantis Life Insurance Company, an industry-leading life insurance provider for mass market consumers, was recently honored by the Bank Insurance & Securities Association (BISA) with its 2019 Technology Innovation Award. Vantis Life accepted the award during the BISA Annual Convention on March 7 in Hollywood, Florida. This accomplishment reflects the company’s investment in Velocity, […]

    ACLI comes off bench to support legislation requiring employers offer access to retirement plans

    {March 12th, 2019} by Mark Schoeff Jr.

    The American Council of Life Insurers announced Tuesday it would back legislation to require employers to establish retirement savings plans for their workers.   Click HERE to read the full story via InvestmentNews; registration required. 

    IRS Change Could Hurt Group Annuity Sales, Expand Rollover Market

    {March 12th, 2019} by Allison Bell

    A new Internal Revenue Service decision could boost employers and retirement planners but hurt life insurers and the Pension Benefit Guaranty Corp. (PBGC). The IRS has announced the decision in IRS Notice 2019-18. The notice will help a pension plan sponsor use the offer of a one-time cash payment to buy out a participant’s pension income stream. A […]

    In Policy Shift, Life Insurers Back Mandatory Retirement Plans

    {March 12th, 2019} by Elizabeth Festa

    The board of the American Council of Life Insurers voted Monday to support legislation that would require the vast majority of employers to offer a retirement plan in a major policy shift from previous industry support for voluntary participation. The legislation, which is the former H.R. 4523, the Automatic Retirement Plan Act of 2017, introduced by House […]

    IRS Change Could Hurt Group Annuity Sales, Expand Rollover Market

    {March 12th, 2019} by Allison Bell

    A new Internal Revenue Service decision could boost employers and retirement planners but hurt life insurers and the Pension Benefit Guaranty Corp. (PBGC). The IRS has announced the decision in IRS Notice 2019-18. The notice will help a pension plan sponsor use the offer of a one-time cash payment to buy out a participant’s pension income stream. A […]

    Yes. Leave Big Insurer Wellness to Us: NAIC Head on FSOC Proposal

    {March 12th, 2019} by Allison Bell

    Federal financial services regulators could end up leaving state insurance regulators in charge of ensuring that giant insurers exercise and eat their vegetables. The head of a group for state insurance regulators is welcoming a Financial Stability Oversight Council (FSOC) proposal that could give him and his colleagues more authority over insurance giant wellness. Eric […]

    Life Activity Continues to Move in a Strange Way

    {March 12th, 2019} by Allison Bell

    U.S. life insurance application activity did something shocking in February: It increased — for the second month in a row. Activity was 2.1% higher in January than in January 2018, according to activity data from MIB Group Inc. That’s the first overall, year-over-year increased in activity since July 2018. In February, MIB says, activity increased a second time: Activity was […]

    Using music to share financial literacy with young students

    {March 12th, 2019} by Sarah Min

    For Laura Steckler, managing director at Steckler Wealth Management Group for Raymond James, financial literacy and multigenerational planning are the cornerstones of her practice. Click HERE to read the full story via InvestmentNews; registration required.

    Life insurance locator helps people find lost life insurance policies for free

    {March 12th, 2019} by Deb Stanley

    When a loved one passes away, it can be difficult to find their life insurance policies. While some people put all their important documents in one place, others do not. But the State of Colorado has help. The life insurance policy locator can help beneficiaries find old life insurance policies. “People don’t talk much about […]

    Does the ‘4% rule’ for retirement work if you retire early?

    {March 12th, 2019} by Maria Lamagna

    Running out of money during retirement is a scary prospect. If you’re planning to retire at a young age, it might seem even scarier. So based on predictions about where the U.S. stock market seems to be headed, how much should you save? It’s a multimillion-dollar question, and one poster on Reddit asked it this week. […]

    Women Are Overwhelmingly Falling Down in This Financial Area

    {March 12th, 2019} by Maurie Backman

    Whether they hold down jobs or take care of the household, women contribute to their families’ financial well-being in many ways. As such, they need to protect their loved ones by securing life insurance. Yet 43% of U.S. women don’t have a life insurance policy in place, and among those who do have one, many are underinsured. Furthermore, […]

    GE expects $1.7 billion in rate increases for long-term care policies

    {March 12th, 2019} by Greg Iacurci

    General Electric expects to institute $1.7 billion in premium increases for its long-term care insurance policyholders over the next several years, the company said Thursday, making it the latest of several insurers to raise premiums for customers as they contend with market forces making the insurance costlier for them to underwrite. Click HERE to read the full […]

    Surrender rates on some FIAs tick higher

    {March 12th, 2019} by Editorial Staff

    Fixed indexed annuity (FIA) surrender rates climbed in 2017-18, after declining slowly from 2010 to 2016, according to Ruark Consulting LLC. Ruark released the results of its 2019 studies of FIA policyholder behavior this week. Click HERE to read the full story via RIJ; subscription required. 

    The Incredible Shrinking Income Rider

    {March 12th, 2019} by Kerry Pechter

    The variable annuity (VA) with a lifetime income rider is a versatile product category that suits our times. It deals with several major risks—market risk, longevity risk, and perhaps even inflation risk—in ways that seem to satisfy the needs of many retirees, distributors and issuers. Click HERE to read the full story via RIJ; subscription […]

    Next-Gen Annuities

    {March 12th, 2019} by Diana Britton

    Russ Norwood, CEO and founding partner of Venturi Wealth Management in Austin, Texas, was recently in a meeting with a client and, reviewing his portfolios, discovered three variable annuities, paying a thick commission stream to the agent who sold them. “Probably close to 20 percent of his assets are tied up in these annuity contracts,” […]

    Rep. Waters Comments on SEC’s Regulation Best Interest

    {March 12th, 2019} by Melanie Waddell

    House Financial Services Committee Chairwoman Maxine Waters, D-Calif., said Wednesday that her committee will “continue to pay attention” to the Securities and Exchange Commission’s Regulation Best Interest proposal, and that the committee has “not organized” a legislative response to Reg BI. Waters and other Democrats on the committee held a Wednesday media event on Capitol […]

    State Street Adds Another Fearless Girl Statue in London

    {March 12th, 2019} by Emily Zulz

    It’s been two years since State Street Global Advisors first launched the Fearless Girl campaign, and since then more companies have responded to the asset manager’s call to action by either adding a female director or committing to do so. Concluding its second year, out of the 1,265 companies identified globally by State Street that lack a […]

    If You’re Considering an Annuity, Start by Understanding What You Get

    {March 12th, 2019} by Kevin McAllister

    You’ve probably seen the commercials advertising annuities, but as common as the ads are, details about exactly what you get from buying one are scarce. So what can purchasing an annuity actually do for you? Often mislabeled or misunderstood as an investment, an annuity is a product designed by insurance companies to hedge against the chance […]

    NAIC Considers Doubling 10-Year Minimum For Illustration Indices

    {March 12th, 2019} by John Hilton

    A National Association of Insurance Commissioners’ working group put a strong proposal on the table Thursday to double the time indexes must be in existence to be used in annuity illustrations. The proposal put forth by John Robinson of Minnesota would double the time indexes must be in existence from 10 to 20 years. The […]

    Arizona Annuity Law Passes Senate One Month After Being Introduced

    {March 11th, 2019} by John Hilton

    A new state annuity regulation law is speeding through the Arizona Legislature, passing the Senate Wednesday by a 29-1 margin. Senate Bill 1534 was introduced Feb. 6 and quickly passed out of the Senate Finance Committee before clearing the full Senate this week. The bill moves on to the House of Representatives. Click HERE to […]

    Annuities On The Rebound, Kiplinger’s Reports

    {March 11th, 2019} by Richmond Times-Dispatch (VA)

    Kiplinger’s Personal Finance After years of declining sales, annuities are hot again. Part of the reason for the resurgence is that rising interest rates are increasing annuity payouts. But much of the credit for the rebound goes to the demise last year of the fiduciary rule – the U.S. Department of Labor rule that would […]

    African-Americans Look To Life Insurance For Wealth Transfer

    {March 11th, 2019} by Susan Rupe

    African-Americans view life insurance as more than a means to pay for final expenses. They are increasingly looking to life insurance as a way to transfer wealth and leave a legacy. Those were among the findings of New York Life’s Insurance Gap Survey that showed African-Americans report more financial stress than the overall population, but […]

    How Do You Best Educate Clients About Annuities?

    {March 10th, 2019} by Alliance for Lifetime Income

    With initiatives like the Alliance for Lifetime Income, more firms are recognizing the limited resources and knowledge surrounding annuity products, creating an industry-wide push for education about retirement needs. These efforts educate prospects about the benefits of wealth preservation and guaranteed income in retirement. Competitive intelligence firm Corporate Insight’s 2018 Annuity Monitor Awards report details […]

    Genworth to Suspend LTCI and Annuity Sales Through BGAs

    {March 9th, 2019} by Allison Bell

    Genworth Financial Inc. says it will temporarily suspend sales of long-term care insurance (LTCI) and immediate annuities through the brokerage general agency (BGA) channel, in all states, starting Monday. Genworth announced the sales suspension Thursday, in a bulletin. The Richmond, Virginia-based company is making the move because sales through BGAs, or independent distributors, have already […]

    Kansas City Life Announces Fourth Quarter 2018 Results

    {March 8th, 2019} by Kansas City LIfe

    KANSAS CITY, Mo., March 7, 2019 /PRNewswire/ — Kansas City Life Insurance Company recorded net income of $3.8 million or $0.40 per share in the fourth quarter of 2018, a decrease of $30.3 million or $3.12 per share relative to the fourth quarter of 2017.  Net income totaled $15.7 million or $1.62 per share for the year ended December 31, 2018, down from $51.5 million or $5.32 per share for the year ended December 31, 2017. […]

    Crump and SelectQuote Announce Strategic Relationship

    {March 7th, 2019} by Crump Life Insurance Services

    PARSIPPANY, N.J., March 6, 2019 /PRNewswire/ — Crump Life Insurance Services (Crump) and SelectQuote, an Overland Park, Kan. and San Francisco-based direct marketing organization, today announced the start of a multi-faceted strategic relationship that will bring much needed life insurance and retirement protection coverage to more distributors, businesses and consumers. “LIMRA data shows more than 55 percent of the population would […]

    Global Annuities Insurance Market Research Report 2024 Market Report; Launched via MarketResearchReports.com

    {March 7th, 2019} by MarketResearchReports.com

    Lewes, DE — (SBWIRE) — 03/07/2019 — Annuities Insurance market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market. […]

    John Hancock Startup Opens Impact Investing to the Masses

    {March 7th, 2019} by Ginger Szala

    Coin may sound like something from the cryptocurrency arena, but it’s actually the new name of a “conscious investing” platform (hence the name), a startup from John Hancock. The platform, accessible from all devices, allows investors to put money into eight different causes: gender equality, climate action, better health, clean water, waste reduction, quality work, modern […]

    Life Insurers Play Vital Investing Role in US Economy: Chamber

    {March 7th, 2019} by Elizabeth Festa

    Life insurers invest in a wide array of sectors in the U.S. economy, they can stabilize markets, and they can help fund infrastructure projects, according to a new paper prepared by the U.S. Chamber of Commerce, with help from a data analyst from Ernst & Young. The paper, “The Role of Insurance Investments in the […]

    Life, Retirement Industry Officials Wary of ‘Patchwork’ Annuity Sales Standards

    {March 7th, 2019} by Elizabeth Festa

    Top representatives of the life insurance and retirement industries talked Wednesday, during a panel discussion in Washington, about the possibility that states could create a patchwork quilt of annuity sales standards. The American Council of Life Insurers is actively engaged with the Securities and Exchange Commission and the National Association of Insurance Commissioners on the […]

    I defied Mad Men by wearing pants … and I have a book of business to die for

    {March 7th, 2019} by Bethan Moorcraft

    Carmel Fauci (pictured) stumbled into the insurance industry over 50-years-ago, when she started working as a clerk for $50 a week. After graduating from high school at the age of 16, she never intended to work for an insurance company. Quite the contrary, she had dreams of going to art school and was awarded scholarships […]

    Facts Omitted From The Wall Street Journal Story About Greg Lindberg And His Companies

    {March 6th, 2019} by Spokesperson for Greg. E. Lindberg

    DALLAS, March 3, 2019 /PRNewswire/ — Mr. Lindberg’s colleagues and representatives spent weeks answering detailed questions from the Wall Street Journal.  Unfortunately, key facts were omitted from the story.  Facts such as: There are numerous inaccuracies with respect to the use of the insurance funds to finance personal assets. For example, no insurance company money was used to […]

    Accenture Completes First Cloud-Based Implementation of Its Life Insurance & Annuity Platform

    {March 6th, 2019} by Accenture

    NEW YORK; Feb. 26, 2019 – Accenture (NYSE: ACN) has, for the first time, implemented the Accenture Life Insurance & Annuity Platform (ALIP) for new business and underwriting in a full-service cloud-hosted environment. The innovative solution combines ALIP on Microsoft Azure cloud; the RGA AURA® underwriting rules engine, which is now available out-of-the-box within ALIP; and […]

    2018 Finra Fines Increase, Cases Down

    {March 5th, 2019} by N/A

    Eversheds Sutherland has completed its annual study of the disciplinary actions reported by the Financial Industry Regulatory Authority (FINRA) in 2018. By reviewing FINRA’s monthly disciplinary reports, press releases, and online database, Eversheds Sutherland partner Brian L. Rubin and counsel Adam C. Pollet found that in 2018 the amount of fines increased compared with 2017, […]

    The Life Insurance-Other Financial Services Sectors Communications Gap

    {March 5th, 2019} by Mark Whitelaw

    A recent ThinkAdvisor Life/Health article raised this question: Can members of the life insurance community explain themselves to other players in the financial services sector? Here’s my response, with my comments focused on how members of the life insurance community can explain themselves. Whether life insurance community members have the ability to explain themselves to counterparts in […]

    The Leader in Indexed Universal Life Insurance Announces Two New Products

    {March 5th, 2019} by Pacific Life Insurance Company

    ALISO VIEJO, Calif.–(BUSINESS WIRE)–Today, Pacific Life Insurance Company (Pacific Life) announced two new indexed universal life insurance (IUL) products: Pacific Discovery Xelerator IUL 2 (PDX IUL 2) and Pacific Indexed Accumulator 6 (PIA 6).1 Both life insurance products continue in the tradition of providing flexible death benefit protection for individuals and businesses. PDX IUL 2 […]

    Best’s Market Segment Report: U.S. Life/Annuity Insurers Buoyed by Stable Outlook, But Clouds Loom on Horizon

    {March 5th, 2019} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Despite a recent change in AM Best’s life/annuity (L/A) market segment outlook to stable from negative, clouds remain on the horizon as 2019 began with an usual mix of uncertainty, according to AM Best’s 2019 Review/Preview market segment report. There is potential for a global economic slowdown owing to a prolonged trade/tariff war, and […]