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Archive for September 2019

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  • Colonial Life launches new whole life coverage

    {September 25th, 2019} by Colonial Life

    COLUMBIA, S.C.–(BUSINESS WIRE)–Many people just think of life insurance as something useful when there’s a death. But Colonial Life’s new individual whole life insurance coverage announced today has the flexibility to provide benefits while the policyholder is still alive. Colonial Life’s new product debuts in 48 states and the District of Columbia – just in […]

    Kansas City Life Insurance Company is a proud supporter of Life Happens and Life Insurance Awareness Month

    {September 25th, 2019} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., Sept. 23, 2019 /PRNewswire/ — Kansas City Life Insurance Company is once again supporting Life Happens and Life Insurance Awareness Month (LIAM) during the month of September. Life Happens, a nonprofit dedicated to educating consumers about the importance of life insurance and other related products for sound financial planning, kicked off its 16th annual […]

    Women Value Their Lives Lower Than Men For Life Insurance

    {September 25th, 2019} by Raymond Fazzi

    We’ve all heard about the gender pay gap. But now it seems there may be a gender gap in life insurance coverage. Women with children under the age of 18 are not financially valuing their lives as highly as men when selecting life insurance, according to a survey released today by online life insurance agency […]

    FINRA Enforcement Chief Schroeder to Leave Later This Year

    {September 25th, 2019} by Melanie Waddell

    Susan Schroeder, the Financial Industry Regulatory Authority’s enforcement chief, plans to leave her post later this year, the broker-dealer self-regulator said Thursday. Jessica Hopper, deputy head of enforcement, has been named the acting head of enforcement. FINRA will search both internally and externally for a new head of enforcement. No specific date was given for […]

    Life Insurer Rescinded Paid-Up Life Policies Without Consumer Consent: New York Officials

    {September 25th, 2019} by Allison Bell

    The New York Department of Financial Services wants life insurers in the state to comply with the state’s policyholder notice rules when they try to declutter blocks of life insurance business. The department sent that message Tuesday, by announcing the imposition of a $260,000 fine on a life insurer that rescinded 260 small, paid-up life insurance […]

    New DOL Fiduciary Rules Out in Next 2 Months: Attorneys

    {September 25th, 2019} by Melanie Waddell

    The Labor Department is expected to propose new fiduciary rules aligning with the Securities and Exchange Commission’s Regulation Best Interest “in the next two months,” according to attorneys at Groom Law Group. Labor’s plan will include a comment period before being finalized. “Many in the industry would like clarity on how Regulation Best Interest and […]

    Why Women Don’t Purchase Enough Life Insurance…And Why They Need More

    {September 25th, 2019} by Liz Frazier

    According to a new study by online life insurance agency Haven Life , there is a major gender gap when it comes to life insurance and women. The survey shows that while women and men equally believe that their death would have a “substantial” impact on their family, women are not purchasing life insurance as frequently as […]

    InsurTech Express Forms Board of Directors, Announces Members

    {September 25th, 2019} by InsureTech Express

    RALEIGH, N.C., Sept. 24, 2019 /PRNewswire/ — Insurance solutions innovator InsurTech Express announces the formation of its board of directors. Members include the following industry experts: Kenneth R. LeibowFounder, Chairman and Chief Executive Officer, InsurTech Express Diana J. Hickert-HillFounder and Chief Executive Officer, DH2 Consulting (DH Squared, LLC) Dennis R. VigneauChief Financial Officer, Fidelity & Guaranty Life Holding Company Cheryl […]

    Nationwide introduces new digital insurance platform

    {September 25th, 2019} by Nationwide

    COLUMBUS, Ohio, Sept. 24, 2019 /PRNewswire/ — For millennials, a smart phone isn’t just about staying in touch. It’s about making life easier because everything can be done in the palm of your hand – shopping whenever you want, booking dinner reservations, searching for jobs and even making friends jealous with the perfect Instagram post. With the demands of […]

    Salesforce Expands Financial Services Cloud with New Insurance Innovation–Bringing Policyholders, Insurers and Agents Together

    {September 25th, 2019} by Salesforce

    SAN FRANCISCO, Sept. 24, 2019 Salesforce (NYSE: CRM), the global leader in CRM, today announced new insurance-focused enhancements to Financial Services Cloud that enable insurers to build stronger, more personalized relationships with policyholders. As an extension to Financial Services Cloud, insurers now have a unified, 360-degree view of their policyholders–including household relationships, life events, coverage and claims–across all […]

    C2P Advisory Group Announced as Winner of 2019 WealthManagement.com Industry Award for Insurance Services Category

    {September 25th, 2019} by C2P Advisory Group

    CLEVELAND, Sept. 20, 2019 /PRNewswire/ — C2P Advisory Group, a fiduciary-friendly insurance marketing organization (IMO), has been named the winner of WealthManagement.com’s prestigious 2019 Industry Awards in the category of Insurance Service. Now in its fifth year, these awards recognize new technology innovations and products that enhance advisors’ ability to move the industry forward, help advisors better run […]

    New York Life Ventures whitepaper highlights profound impacts LifeTech promises for future of life insurance industry

    {September 25th, 2019} by New York Life Ventures

    NEW YORK–(BUSINESS WIRE)–New York Life Ventures, the corporate venture capital arm of New York Life, today released “Emerging LifeTech ecosystem promises profound impacts on life insurance,” a whitepaper that dives deeper into the implications of LifeTech for the future of the life insurance sector. LifeTech – an emerging start-up ecosystem distinctly different from the prevailing […]

    New TIAA Survey Identifies Factors That Build and Detract From Financial Confidence

    {September 25th, 2019} by TIAA

    NEW YORK–(BUSINESS WIRE)–TIAA’s 2019 Lifetime Income Survey found that various uncertainties are key detractors of financial confidence among Americans– with just three-in-ten respondents saying they are very confident they will always feel financially secure, including during retirement. Only a little more than one-in-three (35%) are very confident they will be able to maintain their lifestyle […]

    New MassMutual White Paper Evaluates Key Pension Plan De-risking Strategies

    {September 25th, 2019} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–As employers wrestle with how best to mitigate the financial risks associated with sponsoring defined benefit (DB) pension plans, they should weigh the relative benefits of limiting vs. eliminating those risks over time, a new white paper from Massachusetts Mutual Life Insurance Company (MassMutual) asserts. Plan sponsors may employ a range of strategies […]

    Best’s Special Report: U.S. Life/Annuity and Health Credit Rating Upgrades Outpace Downgrades in First-Half 2019

    {September 25th, 2019} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Credit Rating upgrades for the U.S. life/annuity (L/A) and health segments outpaced downgrades by a wider margin than in the first-half of 2018, according to a new AM Best special report. The Best’s Special Report, titled, “L/H Upgrades Outpace Downgrades in First-Half 2019,” states that in the first half of 2019, there were seven rating upgrades […]

    At the RIA Dance, Annuities Look for Partners

    {September 25th, 2019} by Kerry Pechter

    Determined to follow advisors wherever they may go, the top annuity issuers continue to develop no-commission versions of their products and make them available where fee-based advisors can see them: on the custodial or turnkey asset management platforms that RIAs (Registered Investment Advisors) use. Click HERE to read the full story via RIJ.

    A VA Rider Designed for Inheritances

    {September 25th, 2019} by Kerry Pechter

    A new variable annuity rider from Lincoln Financial, called Wealth Pass, allows non-spouse beneficiaries of variable annuities or retirement accounts to stretch the receipt of their inheritance over their own remaining years of life expectancy, with the added assurance that, if they live that long, no less the nominal value of the original inheritance would […]

    Building A Diversified Income Strategy

    {September 25th, 2019} by Herbert K. Daroff, J.D., CFP, AEP

    It’s no wonder that most clients are confused as they approach the income distribution phase of their financial plan (which used to be called “retirement”). Think of a series of 3(x) by 3(y) by 3(z) cubes each one representing all of the various investments that this client might own. Let’s start with just stocks and […]

    NAIFA/ACLI Focusing Advocacy Efforts On The State Level

    {September 25th, 2019} by Susan Rupe

    Two industry organizations, fresh off their legal victory against the Department of Labor fiduciary rule, are teaming up and turning their attentions to issues that affect their members on the state levels. The National Association of Insurance and Financial Advisors is joining forces with the American Council of Life Insurers to coordinate advocacy efforts in […]

    Simplicity Group Acquires Executive Brokerage Services

    {September 25th, 2019} by Simplicity Group Holdings

    SUMMIT, N.J., Sept. 23, 2019 /PRNewswire/ — Simplicity Group Holdings (“Simplicity”) is pleased to announce that it has acquired Executive Brokerage Services, Inc. (“EBS”), an independent insurance distribution company founded over 35 years ago, and that it welcomes Bernie Vukelich and Brian Lipinski as its newest Principals.  EBS will begin its brand transition to Simplicity Pittsburgh effective immediately. “Bernie, Brian and the […]

    Americans Are Worried About Their Finances, New NAPFA Survey Shows

    {September 25th, 2019} by NAPFA

    CHICAGO, Sept. 24, 2019 /PRNewswire/ — A new study released for October’s Financial Planning Month found the majority of Americans are stressed about their financial situations, with 3 out of 4 Americans wishing they could get a financial planning do-over. However, according to the survey by the National Association of Personal Financial Advisors (NAPFA), the outlook isn’t all […]

    NAIFA/ACLI Focusing Advocacy Efforts On The State Level

    {September 25th, 2019} by Susan Rupe

    Two industry organizations, fresh off their legal victory against the Department of Labor fiduciary rule, are teaming up and turning their attentions to issues that affect their members on the state levels. The National Association of Insurance and Financial Advisors is joining forces with the American Council of Life Insurers to coordinate advocacy efforts in […]

    2019 Life Insurance Status Report

    {September 25th, 2019} by Steve Morelli

    Steven LaBroi knew that he was going into a challenging field when he got involved in life insurance, but he quickly ran into issues that were hundreds of years in the making. “There was a gap in really understanding why this industry seems to work for some and why there are so many stereotypes, so […]

    In New York deal, six insurers will pay $1.8 million over annuity sales practices

    {September 25th, 2019} by InvestmentNews

    New York State’s Department of Financial Services has entered into consent orders with six life insurance companies over violations of the state law covering transactions in which deferred annuities were replaced by immediate annuities. Click HERE to read the full story via InvestmentNews.

    This Is the Biggest Behavioral Bias Driving Investment Mistakes, Advisors Say

    {September 25th, 2019} by Jeff Berman

    Behavioral biases are among the most common drivers of investment missteps. The most common culprit? Being easily influenced by recent news events or experiences, according to new research sponsored by Charles Schwab Investment Management (CSIM) in collaboration with the Investments & Wealth Institute. That specific bias — dubbed “recency bias” — was cited by 35% […]

    2 ‘Supertanker’ Trends Reshaping the Future of Investing: BNY Mellon

    {September 25th, 2019} by Jeff Berman

    Artificial intelligence and environmental issues, particularly climate change, are major trends reshaping the future of investing and are seen by many investors as risks to their asset allocations, according to the findings of a new research study by BNY Mellon Investment Management and Create-Research. The report, “Future 2024: Future-Proofing Your Asset Allocation in the Age of […]

    New Leader at NASAA

    {September 25th, 2019} by Melanie Waddell

    New Jersey Bureau of Securities Chief Christopher Gerold, who helped craft the state’s fiduciary rule, became president in mid-September of the North American Securities Administrators Association. Gerold, who will serve a one-year term as NASAA’s president, assumes his new role as the Securities and Exchange Commission’s Regulation Best Interest comes under legal attack. Two separate […]

    Have Fiduciary Standards Been ‘Watered Down’? SEC’s Clayton, Jackson Go Toe to Toe

    {September 25th, 2019} by Melanie Waddell

    Two Securities and Exchange Commission officials went toe to toe Tuesday on whether the agency’s advice-standards package waters down the fiduciary standard for investment advisors. During an oversight hearing held by the House Financial Services Committee — in which the chairman and commissioners were present — Rep. Carolyn Maloney, D-N.Y, probed Commissioner Robert Jackson, a […]

    SEC’s Regulation Best Interest Comes Under Attack

    {September 25th, 2019} by Melanie Waddell

    The Securities and Exchange Commission’s Regulation Best Interest came under legal assault in early September when two separate lawsuits were filed challenging the rule’s validity. More challenges are likely on the way, at least one attorney predicts. Seven states along with the District of Columbia filed a suit in the Southern District of New York […]

    IRS Weighs In on RMDs, Fees

    {September 25th, 2019} by Melanie Waddell

    Advisors should pay attention to a recent IRS ruling on uncashed distribution checks because it may require clients to take required minimum distributions (RMDs) early, warns IRA expert Ed Slott. The IRS recently warned missing or unresponsive retirement plan participants that uncashed distribution checks from qualified retirement plans are taxable. “If the IRS really intends […]

    TIAA Names Former Treasury Official as Chief Compliance Officer

    {September 25th, 2019} by Melanie Waddell

    TIAA, a leading financial services provider, said Monday that David Nason has joined the company as executive vice president and chief risk and compliance officer, a newly created position. Nason, who started on Sept. 16, will report to John Douglas, senior executive vice president and chief oversight and advocacy officer. Roger Ferguson, Jr., president and […]

    FINRA Answers Questions on BDs’ Electronic Communications

    {September 25th, 2019} by Melanie Waddell

    The Financial Industry Regulatory Authority has released guidance based on questions it has received from broker-dealers regarding communications with the public — specifically when using websites, email and other electronic communications. FINRA’s communications rules — Rules 2210 through 2220 — are based on the principles of ensuring that member communications are fair and balanced, and that investors do […]

    Advisors’ Social Media Use Surges Despite Compliance Challenges

    {September 25th, 2019} by Melanie Waddell

    RIAs are increasingly embracing social media sites like LinkedIn and Facebook for marketing purposes despite the compliance challenges, notably compliance with the Securities and Exchange Commission’s “stringent” advertising rule, according to a recent Investment Adviser Association survey. Relief could be coming, however, as the agency’s head of investment management, Dalia Blass, said earlier this year […]

    Life Insurer Rescinded Paid-Up Life Policies Without Consumer Consent: New York Officials

    {September 25th, 2019} by Allison Bell

    The New York Department of Financial Services wants life insurers in the state to comply with the state’s policyholder notice rules when they try to declutter blocks of life insurance business. he department sent that message Tuesday, by announcing the imposition of a $260,000 fine on a life insurer that rescinded 260 small, paid-up life insurance […]

    Society of Actuaries to Shift to an Outreach-Oriented Charter

    {September 25th, 2019} by Allison Bell

    Members of the Society of Actuaries are defending themselves against the rise of the data scientists by having the SOA shift to a new, more market-oriented structure. SOA members have voted 92.3% to 7.7% to move the top-level SOA entity to a charter based on Section 501(c)(6) of the Internal Revenue Code, from a 501(c)(3) charter, […]

    U.S. Benefits Access Stays About the Same: Bureau of Labor Statistics

    {September 25th, 2019} by Allison Bell

    U.S. workers’ access to employee benefits may have stayed about the same between March 2018 and March 2019, even as the overall U.S. civilian unemployment rate fell to 3.8%, from 4%. The Bureau of Labor Statistics (BLS) — an arm of the U.S. Department of Labor — has published data supporting that conclusion in a collection of results […]

    California Keeps Electronic Disclosures Alive

    {September 25th, 2019} by Allison Bell

    California life and health insurers can continue to communicate with policyholders through e-mail and other electronic transmissions. California Gov. Gavin Newsom, D, has signed Assembly Bill 1065 — a bill that extends the state’s Uniform Electronic Transactions Act. The original law was set to sunset Jan. 1, 2021, and some insurers had said they were reluctant to invest […]

    Meal Seminar Marketing Works Way Too Well: State Insurance Regulators

    {September 25th, 2019} by Allison Bell

    he National Association of Insurance Commissioners is paying meal seminar marketing a grudging compliment. Officials at the state insurance regulator group believe that seminars are so powerful at getting consumers to buy insurance products and other financial services products that they have developed a new meal seminar alert. The alert warns consumers, “Be Skeptical About […]

    Be Careful With Chile’s Annuity Market: Economists

    {September 25th, 2019} by Allison Bell

    Poorly designed efforts to improve Chile’s retirement system could break the country’s individual annuity market, economists warn. The economists — Gastón Illanes of Northwestern University and Manisha Padi at the University of California at Berkeley — look in a new working paper at efforts to replace Chile’s current system, which simply limits drawdown of retirement assets, with mandatory […]

    Congress May Overturn 1998 Holocaust Insurance Claims Agreement

    {September 25th, 2019} by Allison Bell

    Some members of the Senate are looking into the idea of canceling a key part of the 1998 agreement that created the International Commission on Holocaust Era Insurance Claims (ICHEIC). The Holocaust Survivors Foundation USA and its backers have been asking Congress to void a provision that’s supposed to create “legal peace” between the survivors, […]

    North Carolina Life Company Executive Says Court Should Dismiss Bribery Indictment

    {September 25th, 2019} by Allison Bell

    A North Carolina life insurance company founder is rejecting federal prosecutor allegations that he tried to bribe the state’s insurance commissioner, Mike Causey. Greg Lindberg — the owner of Global Bankers Insurance Group of Durham, North Carolina — says he was simply trying to get the North Carolina Department of Insurance to give Global Bankers another […]

    What If Annuity Prospects Hate All Those Questions?

    {September 25th, 2019} by Allison Bell

    Members of the Annuity Suitability Working Group are facing a difficult problem: what to do about annuity shoppers who have no interest whatsoever in spilling their guts into a consumer profile information questionnaire. The group is part of the National Association of Insurance Commissioners (NAIC). The suitability working group members are trying to add provisions for […]

    New York Regulators Send Income Annuity Exchange Warning

    {September 25th, 2019} by Allison Bell

    The New York State Department Financial Services has sent life insurers a warning:  Issuers have to be as careful about consumer protection when they’re rolling assets from deferred annuities into immediate annuities as they are with other annuity replacement transactions. The New York department drove that point home today by requiring six insurers to pay […]

    Haven Life Finds Big Male-Female Life Coverage Gap

    {September 25th, 2019} by Allison Bell

    U.S. men may be buying more life insurance coverage per dollar of income than comparable women do. Haven Life, a term life sales arm of Massachusetts Mutual Life Insurance Company, has published data raising that possibility in a summary of results from an online survey of 385 consumers ages 18 to 55. All of the […]

    Americans’ Debt Declining, but Still Concerning: Northwestern Mutual

    {September 25th, 2019} by Jeff Berman

    U.S. consumer debt levels have improved a bit from 2018, but the numbers remain deeply concerning, according to Northwestern Mutual. U.S. adults 18 and older reported having an average of $29,800 in personal debt aside from mortgages, according to the latest findings from the firm’s 2019 Planning & Progress Study, based on an online survey conducted for […]

    SEC Commissioner: Time to Reassess BD Best Execution Obligations

    {September 25th, 2019} by Jeff Berman

    he Securities and Exchange Commission should reassess broker-dealers’ best execution obligations and the Order Protection Rule it created as part of the Regulation National Market System (NMS) rules created in 2005, according to SEC Commissioner Elad Roisman. The SEC takes BDs’ obligation to obtain best execution for their clients and their orders “very seriously,” he said […]

    The Fed Looks at Life Insurers’ Tonsils

    {September 25th, 2019} by Allison Bell

    The Federal Reserve Board looks in U.S. life insurers’ throats every three months to see how they’re doing. The Fed probes life insurers’ finances by compiling data from sources like S&P Global and the National Association of Insurance Commissioners. Unlike many private organizations that publish reports on life and annuity issuers’ performance, the Fed distinguishes […]

    Bloomberg Launches Its Own Equity Indexes: Portfolio Products

    {September 25th, 2019} by Jeff Berman

    Bloomberg entered the U.S. equity index market, introducing equity benchmark capabilities. The equity offering includes the Bloomberg U.S. Large Cap Index (B500) as well as growth, value and dividend indices.The benchmarks serve as the basis for the new Bloomberg SASB ESG Index family that also includes Environmental, Social and Governance (ESG)-weighted versions of the value, growth and […]

    Colonial Life Adds Whole Life Product

    {September 25th, 2019} by Allison Bell

    Unum Group’s Colonial Life & Accident Insurance Company unit is celebrating Life Insurance Awareness Month by introducing a whole life insurance policy. Colonial Life will be selling the policy at the worksite in 48 states and the District of Columbia. Click HERE to read the full story via Think Advisor.

    John Rogers: Industry has ‘gone backwards’ on diversity and inclusion

    {September 25th, 2019} by Greg Iacurci

    John W. Rogers Jr., chairman of Ariel Investments and a pioneer of diversity and inclusion in the financial services profession, issued a reality check for industry participants Tuesday, saying the industry has backtracked rather than improved when it comes to diversity. Click HERE to read the full story via InvestmentNews.

    #LIAM2019

    {September 24th, 2019} by Wink's RockStars

    September is Life Insurance Awareness Month #LIAM!  This is the last installment of our Life Insurance Awareness Month Edition. Wink supports Life Insurance Awareness and will be joining in this month’s awareness campaign! We reprinted our Chief Storyteller’s Sheryl’s most requested life insurance-focused articles all month long; they are indicated with “reprint” in the title. […]

    FUNDING UNIVERSAL LIFE INSURANCE AT TARGET? YOU’RE MISSING THE POINT: REPRINT #LIAM2019

    {September 24th, 2019} by Sheryl J. Moore

    The following article is a reprint, originally written July 15, 2013 by Sheryl J. Moore: Throughout the past [20] years of working with universal life (UL) products, one comment in particular has been overheard far too often: “…fund this UL at [X percent] over target.” This comment is especially popular in the indexed life market, […]

    BUY TERM AND “INVEST” THE REST WITH INDEXED UNIVERSAL LIFE: Reprint #LIAM2019

    {September 24th, 2019} by Sheryl J. Moore

    For as long as I’ve been handling my own finances, I’ve been hearing that people should “buy term and invest the difference.” I have never really taken stock in the concept. I mean, I am a financial services professional that cut her teeth on whole life, but who would adopt this theory centered around buying […]

    What’s driving growth in the fixed indexed annuity market?

    {September 24th, 2019} by Todd Giesing

    The U.S. annuity market underwent a significant shift following the Great Recession. Prior to the economic crash, variable annuity sales propelled growth in the annuity market, accounting for over 70% of the $265 billion in annuity sales in 2007. Click HERE to read the full story via InvestmentNews.

    Why Most Annuities Aren’t Inflation-Adjusted (and Why That’s a Problem)

    {September 24th, 2019} by David Blanchett

    Retirement for many people could last 30 years or longer, and even a relatively mild 2% annual inflation could have a significant impact on purchasing power over time. Yet the vast majority of annuities don’t include a cost-of-living adjustment (COLA) to help combat inflation. Rather, most have payouts that are constant over time (commonly referred […]

    Kitces Addresses Concerns on XY Planning’s Rapid Growth

    {September 24th, 2019} by Janet Levaux

    Last week, platform provider XY Planning Network hosted its national conference, drawing about 500 advisor members and other guests. The group also launched some new services to help members of its network grow their practices. The organization, which also is suing the Securities and Exchange Commission over Regulation Best Interest, says it has more growth […]

    NAIC Life Insurance Policy Locator Helps Consumers Find $650 Million in Life Insurance

    {September 18th, 2019} by NAIC

    WASHINGTON, Sept. 11, 2019 /PRNewswire/ — The National Association of Insurance Commissioners (NAIC) Life Insurance Policy Locator continues to connect consumers with lost life insurance. Each year, millions of dollars in life insurance benefits go unclaimed by beneficiaries who can’t find their deceased loved ones’ policies or in some cases may not even know the policies exist. That’s where […]

    Should You Exchange Your Variable Annuity?

    {September 18th, 2019} by FINRA Staff

    Perhaps you spoke with an investment professional about an existing variable annuity (VA) you own, and the possibility of exchanging your current VA with a new one came up. Before you rush into an exchange, be aware that replacing one VA with another involves a comparison of the complex features of each security. As with […]

    6 excuses people use to avoid buying life insurance

    {September 18th, 2019} by Insurance Forums Staff

    The majority of Americans who don’t have life insurance know they should, but have a variety of excuses for either not pulling the trigger or justifying their decision to pass on it. Life insurance is something most people are uncomfortable talking about, but it’s far too important to put off. With September being Life Insurance Awareness […]

    NAIC Life Insurance Policy Locator helps consumers find $650 million in unclaimed benefits

    {September 18th, 2019} by Insurance Forums Staff

    The National Association of Insurance Commissioners (NAIC) Life Insurance Policy Locator continues to connect consumers with lost life insurance. Each year, millions of dollars in life insurance benefits go unclaimed by beneficiaries who can’t find their deceased loved ones’ policies or in some cases may not even know the policies exist. That’s where the Life […]

    FINRA Plans Major Rule Review in Wake of Reg BI

    {September 18th, 2019} by Melanie Waddell

    The Financial Industry Regulatory Authority is taking a two-pronged approach to reviewing how to potentially revamp its rulebook in light of the Securities and Exchange Commission’s Regulation Best Interest, according to the broker-dealer self-regulator’s CEO, Robert Cook. The first phase, Cook told attendees during a Q&A session at the Financial Services Institute’s 2019 Forum in […]

    Happy Birthday! The IRA Turns 45

    {September 18th, 2019} by John Sullivan, Editor-In-Chief

    They say it’s your birthday. The Investment Company Institute helpfully marked the 45th birthday of the individual retirement account, which actually occurred (not coincidentally) on Labor Day. “Signed into law on September 2, 1974, the Employee Retirement Income Security Act (ERISA) introduced bold steps to safeguard Americans’ employer-sponsored pensions (both defined contribution and defined benefit plans) and created […]

    Tailgating Could Make Everything Better

    {September 18th, 2019} by Joe Queenan

    Last Sunday I went to the New York Jets-Buffalo Bills game at the Meadowlands. It was a sunny, beautiful day and everyone was in a pretty good mood at kickoff time. Sure, the Jets eventually blew a 16-0 lead and lost by one point, but the crowd didn’t take it all that badly. This is partly […]

    AM Best Downgrades Credit Ratings of Aegon N.V.’s U.S. Subsidiaries

    {September 18th, 2019} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating (FSR) to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” from “aa-” of the U.S. life/health subsidiaries of Aegon N.V. (Aegon) (Netherlands) [NYSE: AEG]. Aegon’s U.S. life/health companies are referred to collectively as Aegon USA Group (Aegon USA). The outlook […]

    Life Insurance: Beyond Just Estate Planning

    {September 18th, 2019} by SALENE HITCHCOCK-GEAR

    If you’ve never said, “I do,” or live on your own and don’t have any children, you probably think you don’t need life insurance. Most people may not realize that life insurance can provide benefits well beyond paying for funeral expenses. You’ll want to consider life insurance if someone depends on your income for any […]

    New Survey Identifies Growing Demand to Educate Americans on Life Insurance Needs

    {September 18th, 2019} by LifeMark Partners, Inc.

    WASHINGTON, Sept. 12, 2019 /PRNewswire/ — A new study commissioned by AALU and the Future of The Industry Working Group identified the majority of Americans believe they need a life insurance policy, and there is a significant need among Americans for life insurance education. The study, the Future of Life Insurance and Beyond, found that 63 percent of Americans […]

    IDOI helps people collect $15M in unclaimed life insurance

    {September 18th, 2019} by WAND TV

    (WAND) – The Illinois Department of Insurance is working to help people reclaim life insurance benefits. So far this year, IDOI has helped consumers find and collect more than $15 million from lost or unclaimed life insurance policies. An estimated 1-in-4 life insurance policies go unpaid when an insured person dies, because family members are […]

    NAIFA’s Life and Annuities Certified Professional (LACP) Continues to Gain Corporate Support

    {September 18th, 2019} by NAIFA

    FALLS CHURCH, VA. (PRWEB) SEPTEMBER 11, 2019 The NAIFA Certification Commission (NCCA) announced that Guardian supports and actively encourages its financial representatives to attain the Life and Annuities Certified Professional (LACP) certification as evidence of their knowledge of and ethical approach to sales of life and annuity products. The support will allow Guardian financial representatives to list the […]

    Unique Estate Planning Solution That Helps Beneficiaries Stretch and Protect Their Inheritance Introduced by Lincoln Financial Group

    {September 18th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced the introduction of Lincoln Wealth PassSM, a new withdrawal rider that is specifically designed to help beneficiaries stretch and protect the money they’ve inherited. Lincoln Wealth PassSM is available with American Legacy® , Lincoln ChoicePlus AssuranceSM and Lincoln InvestmentSolutionsSM variable annuities for an additional cost, and offers an opportunity for beneficiaries to guarantee they receive […]

    Lincoln Financial Group’s Will Fuller Named Industry Champion of Retirement Security by Insured Retirement Institute

    {September 18th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today that Will Fuller, executive vice president and president of Annuities, Lincoln Financial Distributors and Lincoln Financial Network, was recognized by the Insured Retirement Institute (IRI) as the recipient of their 2019 Industry Champion of Retirement Security award. The award honors individuals who work to enhance retirement […]

    Do states have standing to sue SEC over Reg BI?

    {September 18th, 2019} by Nick Thornton

    The lawsuit brought against the Securities and Exchange Commission by Attorneys General from seven states and the District of Columbia may prove not to have standing in federal court, according to one attorney. In their complaint, the Attorneys General are asking the U.S. District Court for the Southern District of New York to scrub Regulation […]

    Why Eight States Are Suing Over ‘Reg BI’

    {September 18th, 2019} by Kerry Pechter

    Which is greater: The SEC’s cynicism in using its sacred powers to protect the brokerage industry instead of the investing public, or the naïveté of eight state attorneys general in believing that they can bring the powerful brokerage industry to heel? A U.S. District Court judge in the Southern District of New York has been […]

    Pacific Life’s new 5-year VA/GMAB rider sets -10% floor

    {September 18th, 2019} by Editorial Staff

    Pacific Life Insurance Company has introduced a new optional guaranteed minimum accumulation benefit (GMAB) on certain of its variable annuities that “can provide guaranteed lifetime income and unlimited growth potential,” the company said in a release. The rider is called Protected Investment Benefit, and costs 0.85% per year (to a maximum of 2.50%) over a […]

    40% of life insurers’ bank loans below investment grade: AM Best

    {September 18th, 2019} by Editorial Staff

    About three-quarters of the $40.6 billion in bank loans owned by the U.S. life/annuity companies are rated below investment grade, according to a new AM Best report. The Best’s Special Report, titled, “Bank Loans: Low Credit Quality, But Manageable Exposure,” notes that bank loans are not yet widely held throughout the industry. Bank loan holdings totaled over $54 […]

    Indexed Annuity Group Releases Second Video

    {September 18th, 2019} by Allison Bell

    The Indexed Annuity Leadership Committee (IALC) has debuted the second video in its indexed annuity video series. The new video, “Travel Ready,” conveys the message that indexed annuities can help retirees get the principal protection, tax-deferred growth, and guaranteed income that they need to enjoy retirement. Click HERE to read the full story via ThinkAdvisor. Links […]

    NAIFA Event Offers Food Kit Networking

    {September 18th, 2019} by Allison Bell

    The National Association of Insurance Financial Advisors (NAIFA) last week offered attendees at its annual conference in Orlando, Florida, a charity-based opportunity to break the ice: a chance to participate in four different projects organized by a local nonprofit. The nonprofit, Hands on Orlando, put NAIFA conference attendees to work helping with three projects aimed at Florida […]

    7 Bitter Enemies of Life Insurance

    {September 18th, 2019} by Allison Bell

    It’s Life Insurance Awareness Month. Hurricane Dorian just delivered a stern message about the fragility of life. U.S. life expectancy keeps falling. But new U.S. individual life sales are soft. AALU — a group for people who sell life insurance and related products — and the Future of the Industry Working Group estimate that at least 70 million […]

    LegacyShield, Sammons Affiliates Stock Life Product Shelves

    {September 18th, 2019} by Allison Bell

    LegacyShield Solutions LLC and two life insurance companies affiliated with Sammons Financial Group Inc. have introduced new permanent life insurance products this week. LegacyShield — a Jacksonville, Florida-based personal document storage company — has worked with the Savings Bank Mutual Life Insurance Company of Massachusetts to develop a LegacyLife permanent life insurance policy. Click HERE to read the […]

    Security Benefit Fuels Commercial Real Estate Joint Venture

    {September 18th, 2019} by Allison Bell

    Security Benefit Life Insurance Company is working with Kennedy Wilson Holdings Inc., a real estate investment company, to invest in income-producing real estate in the western United States, Kennedy Wilson said today. A new Security Benefit-Kennedy Wilson joint venture has started by acquiring Sunset North, an office park in Bellevue, Washington, for $227 million. The […]

    ERIC M. WILLIAMS JOINS LEGACY MARKETING GROUP® AS NATIONAL SALES LEADER

    {September 18th, 2019} by Legacy Marketing Group

    PETALUMA, CA, September 13, 2019—Legacy Marketing Group®, creator and distributor of exclusive, innovative insurance and annuity products, announces that Eric M. Williams has joined the company as National Sales Leader. Eric has more than 20 years of financial services experience, primarily in the life and long-term care insurance industry. He will be responsible for developing […]

    Bashers, Haters And Agitators

    {September 18th, 2019} by Mike Janky

    I just finished reading another incredibly biased article bashing annuities and how they are going to ruin 401(k)’s. Having nearly 30 years in the industry on both the investment and insurance side of the fence, I would like to discuss what I feel are the true benefits of annuities and how they can actually save […]

    An Announcement from NAFA to Its Membership

    {September 18th, 2019} by NAFA

    We need your help TODAY to ask Congress to improve the retirement security for millions of American families. H.R. 1994, the Setting Every Community Up for Retirement Enhancement (SECURE) Act, can play an invaluable role in helping increase retirement savings and improve the employer-provided retirement system by encouraging small-employer retirement plan coverage and promoting worker participation […]

    2020 MDRT Leadership Propels Personal and Professional Growth for U.S. Members

    {September 18th, 2019} by MDRT

    PARK RIDGE, Ill. (Sept. 4, 2019) — The 2020 Executive Committee strengthens MDRT’s offerings for the world’s leading financial professionals as Regina Bedoya, CLU, ChFC, takes her place as 94th President and newcomer Peggy Tsai, RFP, CCFP, assumes the role of Secretary. The five committee leaders create a unique combination which elevates MDRT’s service and embodiment of […]

    XY Planning Network Files Suit To Challenge SEC’s Regulation Best Interest Rule

    {September 18th, 2019} by XY Planning Network

    BOZEMAN, Mont., Sept. 11, 2019 /PRNewswire/ — XY Planning Network (XYPN) announced yesterday at its XYPN LIVE National Conference that it is filing a lawsuit in the Southern District of New York to challenge the Securities and Exchange Commission (SEC) regarding the SEC’s new Regulation Best Interest (Reg BI) rule as it pertains to the delivery of financial planning advice. […]

    Hiring women still an ‘uphill battle’ at Raymond James

    {September 18th, 2019} by Jessica Mathews

    ORLANDO — Hiring more women still feels like “an uphill battle” at Raymond James, according to Renée Baker, the firm’s new face of its advisor inclusion networks. Baker was 10 days into the new role when she got up on stage Wednesday to introduce the firm’s 25th annual Women’s Symposium and affirm that the company […]

    So you want to be an FA? 10 tips from women in the industry

    {September 18th, 2019} by Jessica Mathews

    ORLANDO — Getting more women interested in financial planning careers is a recurring topic at industry conferences and an ever-expanding initiative across investment firms, brokerages and custodians. The numbers aren’t great. There are 44,513 financial advisors who are women — only a little over 14% of the profession, according to the latest Cerulli Associates data […]

    Outside Business Activity Rule Review “Surprisingly Controversial,” Admits Finra Chie

    {September 18th, 2019} by Mrinalini Krishna

    As a part of its current retrospective review of rules, Finra has sought comments on a proposed rule to govern the outside business activities of advisors. But a year and a half later, Finra CEO Robert Cook said the new proposal “turned out to be surprisingly controversial within the industry” and that “different parts of the industry have different views […]

    International Capital Standards Could Kill Annuities: NAIC President to Senate

    {September 18th, 2019} by Allison Bell

    The leader of the National Association of Insurance Commissioners (NAIC) today asked members of Congress to keep an international capital standards proposal from applying in the United States. Eric Cioppa — the Maine insurance superintendent and the NAIC’s president — told members of the Senate Banking, Housing and Urban Affairs Committee that letting the current draft of […]

    Life Insurance Awareness Starts at Home: Idea File

    {September 18th, 2019} by Allison Bell

    New life insurance agents in training sometimes complain that carriers want them only for their personal contacts, and that carriers have unrealistic expectations about how many policies agents in training can sell to friends and relatives. Nate Richardson, senior vice president for sales and distribution at Bankers Life, recently turned that argument on its head. […]

    OHIOANS HAVE UNCOVERED MILLIONS IN MISSING LIFE INSURANCE FUNDS

    {September 18th, 2019} by WKTN Staff

    September is Life Insurance Awareness Month in Ohio COLUMBUS – A free service provided by the Ohio Department of Insurance is helping Ohio residents uncover millions of dollars in life insurance funds they are rightfully due. The Department of Insurance’s missing life insurance policy and annuity contract search service, launched in 2009 as one of […]

    Raymond James to Pay $15M to SEC for Improper Charges

    {September 18th, 2019} by Melanie Waddell

    The Securities and Exchange Commission on Tuesday instituted a settled order against three Raymond James entities for improperly charging advisory fees on inactive retail client accounts and charging excess commissions for brokerage customer investments in certain unit investment trusts, or UITs. The SEC order finds that Raymond James & Associates and Raymond James Financial Services […]

    Nationwide Advisory Solutions Launches New Lifetime Income Rider Designed Expressly for RIAs and Fee-Based Advisors with One of Industry’s Highest Roll-Up Percentages

    {September 17th, 2019} by Nationwide Advisory Solutions

    LOUISVILLE, Ky., Sept. 16, 2019 /PRNewswire/ — Following the recent IRS Private Letter Ruling allowing favorable tax treatment of advisory fees from non-qualified annuities, Nationwide Advisory Solutions continues to optimize its retirement income solutions built expressly to fit the way RIAs and fee-based advisors work, launching a new lifetime income rider and two new enhancements to Nationwide Advisory […]

    Vantis Life Unveils Annuities for Direct Purchase

    {September 17th, 2019} by Gregory FCA for Vantis Life

    WINDSOR, Conn.–(BUSINESS WIRE)–Leading direct-to-consumer life insurance provider Vantis Life Insurance Company has introduced a new series of annuity products available for direct purchase online. The offerings include: TaxSaver Freedom® ROP– This annuity provides a fixed interest rate with the safety of a return of premium (ROP) guarantee feature. With an ROP feature, customers have access to their deposits at […]

    Annuities Can Help Recession-Proof Your Client’s Investments

    {September 17th, 2019} by Philadelphia Inquirer

    An economic recession is defined as two consecutive quarters of negative economic growth. The U.S. economy has experienced 10 recessions since 1950, according to the National Bureau of Economic Research. Does this mean stock prices drop also? Not necessarily. The most severe was the Great Recession of 2008-2009, and the mildest was 2001, according to […]

    Latest Hybrid Life/Long-Term Care Solution Offers Greater Long-Term Care Planning Flexibility

    {September 17th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–To help consumers meet the increasing need and cost of long-term care, Lincoln Financial Group (NYSE:LNC) today introduced MoneyGuard® III, the newest generation of its hybrid life/long-term care funding solution. MoneyGuard III, issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, offers new coverage and benefit options and provides greater financial flexibility to clients looking […]

    Great American Life Annuity Now Available on BNY Mellon’s Pershing RIA Custody Platform

    {September 17th, 2019} by Great American Life Insurance Company

    CINCINNATI–(BUSINESS WIRE)–Great American Life Insurance Company® is pleased to announce its fee-based fixed-indexed annuity, Index Protector 7, is now available on BNY Mellon’s Pershing (“Pershing”) registered investment advisor (RIA) custody platform. Index Protector 7 offers competitive earning potential, tax-deferred growth and a return of premium guarantee, allowing advisors to further diversify their clients’ portfolios and help […]

    LegacyShield Announces Newest in Growing Line of Innovative Life Insurance Protection Solutions: LegacyLife

    {September 17th, 2019} by LegacyShield Solutions, Inc.

    JACKSONVILLE, Fla., Sept. 10, 2019 /PRNewswire/ — LegacyShield (https://www.legacyshield.com/en/) recently unveiled the latest product in its ever-expanding offering of legacy planning and protecting families: LegacyLife.  LegacyLife is a permanent life insurance product developed in conjunction with The Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI) as an exclusive LegacyShield offering, and comes ready and preloaded with LegacyShield’s groundbreaking […]

    NAIC Regulators Debate Extending Annuity Sales Rule To In-Force Policies

    {September 17th, 2019} by John Hilton

    State regulators returned to a potential land mine today in debating whether in-force policies will be covered under any annuity sales model law sent to the states for adoption. The Annuity Suitability Working Group held its first two-hour call in a speeded-up timeline designed to finally complete the model law. The group wants to present […]

    The SEC botched title reform. New York got it right

    {September 17th, 2019} by Greg Iacurci

    The SEC backed off a promising provision in its proposed rule, while New York takes on use of misleading titles in no uncertain terms. Click HERE to read the full story via InvestmentNews.

    We Need Help Growing Life Insurance Distribution: REPRINT #LIAM2019

    {September 17th, 2019} by Sheryl J. Moore

    Originally posted February 5, 2011 by Sheryl J. Moore Most of you know that I am passionate about indexed life insurance and indexed annuities. However, I am passionate about insurance products in general. In fact, one of the things that I am MOST passionate about is growing our distribution! Not so long ago, life insurance […]

    Jackson National to reintroduce fee-based annuities in New York

    {September 17th, 2019} by Greg Iacurci

    Jackson National Life Insurance Co. plans to reintroduce fee-based annuities in New York, weeks after the company suspended sales due to concerns about an insurance regulation that took effect in the state. Click HERE to read the full story via InvestmentNews.

    Lincoln, other insurers likely to backtrack on New York annuity pullback

    {September 17th, 2019} by Greg Iacurci

    Lincoln Financial Group and other insurance companies that pulled some annuities from the New York market in the wake of a new state regulatory requirement will likely reintroduce the products in coming weeks, now that the New York Department of Financial Services has issued guidance assuaging their concerns. Click HERE to read the full story […]

    The Big I Appeals NY Ruling Upholding Best Interest Standard

    {September 17th, 2019} by John Hilton

    The Independent Insurance Agents and Brokers of New York filed an appeal Monday challenging a New York Supreme Court ruling upholding the state’s new regulations governing annuity and life insurance sales. Acting Albany County Supreme Court Justice Henry Zwack ruled July 31 that the New York Department of Financial Services was within its authority when […]

    States Sue SEC To Stop Reg Best Interest

    {September 17th, 2019} by Cassie Miller

    Seven states and the District of Columbia are suing the Securities and Exchange Commission, saying it failed to protect consumers in its Regulation Best Interest rule. The suit, filed in the Southern District of New York Monday, includes New York, California, Oregon, Connecticut, Delaware, Maine and New Mexico. The 36-page complaint alleges that the final […]

    This Week: FedEx results, Fed policy update, US home sales

    {September 17th, 2019} by Associated Press

    A look at some of the key business events and economic indicators upcoming this week: MIXED RESULTS? Wall Street expects that FedEx’s latest quarterly report card will show mixed results. Analysts predict the package delivery giant will report Tuesday that its fiscal first quarter earnings declined from a year earlier, even as revenue was essentially […]

    New York State Growls at Out-of-State Pension Risk Transfer Marketers

    {September 17th, 2019} by Allison Bell

    The New York State Department of Financial Services has a stern warning for out-of-state group annuity issuers: Don’t try to sell pension risk transfer arrangements in New York without getting licensed in New York state. Out-of-state insurers should not even try to sell group annuities to customers located outside of New York state from offices in […]

    ACLI President Opposes 8-State Reg BI Challenge

    {September 17th, 2019} by Allison Bell

    The head of the American Council of Life Insurers (ACLI) says a group of state attorneys general who are fighting Regulation Best Interest in federal court are misguided. The attorneys general filed the suit earlier this week in the U.S. District Court for the Southern District of New York. The plaintiff group includes the attorney general for […]

    SEC Fines Prudential Units for Misleading Fund Boards

    {September 17th, 2019} by Melanie Waddell

    The Securities and Exchange Commission charged two subsidiaries of Prudential Financial Inc. on Monday with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 insurance-dedicated funds they advised. The subsidiaries, AST Investment Services Inc. and PGIM Investments LLC (PI), served as investment advisors to the funds. They were ordered to pay […]

    FBL Chief Executive to Retire Early Next Year

    {September 17th, 2019} by Allison Bell

    Jim Brannen, the chief executive officer of FBL Financial Group Inc., is preparing to retire in early 2020, the company announced last week. Brannen has been the CEO of the West Des Moines, Iowa-based life insurer since 2012, and he has been working for the company since 1991. Brannen said in a statement about his retirement […]

    Annuity Product Update: Vantis Life, Nationwide, Pacific Life

    {September 17th, 2019} by Allison Bell

    Vantis Life Insurance Company has introduced two fixed annuities aimed at the direct purchase market. The new products are the TaxSaver Freedom ROP annuity and the TaxSaver Freedom MVA annuity. The ROP contract includes a return-of-premium feature, according to Vantis Life. Purchasers can use the ROP feature to get their deposits back at any time, […]

    Life Insurers Face Another Big, Hairy Accounting Shift

    {September 17th, 2019} by Allison Bell

    U.S. life insurers will soon face a big, little-discussed accounting headache: changing the way they handle expected credit losses. Life insurers will have to estimate the odds that the loans in their investment portfolios will go bad. Life insurers will also have to estimate the odds that their reinsurance arrangements will go bad. Accountants from KPMG talked […]

    International Capital Standards Could Kill Annuities: NAIC President to Senate

    {September 17th, 2019} by Allison Bell

    The leader of the National Association of Insurance Commissioners (NAIC) today asked members of Congress to keep an international capital standards proposal from applying in the United States. Eric Cioppa — the Maine insurance superintendent and the NAIC’s president — told members of the Senate Banking, Housing and Urban Affairs Committee that letting the current draft of […]

    Prudential Subsidiaries Charged for Tens of Millions in Losses for Funds They Advised

    {September 17th, 2019} by Rita Raagas De Ramos

    The SEC Monday charged two subsidiaries of Prudential Financial with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 insurance-dedicated mutual funds they advised. The SEC identified the Prudential subsidiaries as AST Investment Services and PGIM Investments. The SEC’s order states that in 2006, the funds were reorganized so that Prudential could receive certain tax benefits, […]

    INDEXED LIFE AS A REPLACEMENT FOR INDEXED ANNUITIES?: REPRINT #LIAM2019

    {September 17th, 2019} by Sheryl J. Moore

    IUL SHOULD ONLY BE SOLD TO FULFILL A LIFE INSURANCE NEED. If you asked me four years ago what the average cap was on an indexed annuity’s annual point-to-point crediting method, my response would have been, “a decent 6.86 percent.” Today, my response is, “a lousy 3.13 percent.” How are you, the independent insurance agent, supposed […]

    WHY ARE INDEXED LIFE CAPS SO MUCH HIGHER THAN INDEXED ANNUITIES’? REPRINT #LIAM2019

    {September 17th, 2019} by Sheryl J. Moore

    Number one question asked since historical-low interest rates have depressed indexed annuity caps: “WHY ARE THE CAPS ON INDEXED LIFE INSURANCE PRODUCTS SO MUCH HIGHER THAN THOSE ON INDEXED ANNUITIES?” Good question. Simple answer. Let us explore how insurance companies are able to make a profit on each of these products. On annuities, insurance companies only […]

    Getting to know our Chief Everything Officer

    {September 17th, 2019} by Wink's RockStars

    VICTORIA L. PETERSON, A.K.A. TORI, A.K.A. THE “DECISION DIVA.” Victoria, Chief Everything Officer, was the first employee that Sheryl J. Moore hired to work with her at Wink. She became a member of the Moore family after Sheryl’s then four year-old son hit on her at her teenage job. Always willing to help a friend, and […]

    #LIAM2019

    {September 17th, 2019} by Wink's RockStars

    September is Life Insurance Awareness Month #LIAM!  Wink supports Life Insurance Awareness and will be joining in this month’s awareness campaign! We are reprinting our Chief Storyteller, Sheryl’s most requested life insurance-focused articles all month long; they are indicated with “reprint” in the title.  You’ll find these timeless articles are still relevant today. While life […]

    Famed Annuity Hater Ken Fisher Invested Millions in Annuities

    {September 17th, 2019} by Contributor

    Ken Fisher is the founder and executive chairman of Fisher Investments, but you probably know him best for showering hatred upon annuities. It’s one of his most definable characteristics. He was recently quoted in an advertisement saying, “I would die and go to hell before I would sell an annuity,” and there are ads with […]

    New NASAA president pursues fiduciary rule in New Jersey

    {September 17th, 2019} by Mark Schoeff Jr.

    As chief of the New Jersey Bureau of Securities, Christopher Gerold is leading the effort to raise investment advice requirements in the state by developing its own fiduciary rule. Click HERE to read the full story via InvestmentNews. 

    SEC Fines Prudential Units for Misleading Fund Boards

    {September 17th, 2019} by Melanie Waddell

    he Securities and Exchange Commission charged two subsidiaries of Prudential Financial Inc. on Monday with failing to disclose conflicts of interest and making misleading disclosures to the boards for 94 insurance-dedicated funds they advised. The subsidiaries, AST Investment Services Inc. and PGIM Investments LLC (PI), served as investment advisors to the funds. They were ordered to pay […]

    Fixed Indexed Annuities: Pros and Cons

    {September 17th, 2019} by Rachel Cautero, SmartAsset

    Looking for a long-term, relatively risk-free savings option? Then you might consider a fixed indexed annuity. This is a financial instrument that provides investors with a guaranteed interest rate over a set amount of time. A fixed indexed annuity, also know as FIA, combines the low-risk nature of a fixed annuity with the potential returns of indexed annuities. […]

    Facts And Features Of Annuities: Part 1, Index Annuities

    {September 17th, 2019} by Bob David

    Over the last few years, fixed index annuities have risen in popularity. These products are used in a number of cases, but many of them have added optional features or riders that have helped their popularity and usefulness for those entering or in retirement. The feature many people want from an annuity is a lifetime […]

    Facts And Features Of Annuities: Part 2, Variable Annuities

    {September 17th, 2019} by Bob David

    Recently, it was my wish to help people understand more about annuities. For a more rounded understanding of this article, it’s important to read part one of this article on index annuities first. In part two of our basic overview of annuities, we’ll be discussing variable annuities, some of the benefits, and how they may help your […]

    Don’t Let These Six Reasons Hold You Back from Buying Life Insurance

    {September 13th, 2019} by Erie Insurance

    ERIE, Pa., Sept. 12, 2019 /PRNewswire/ — Are you like the majority of Americans who don’t have life insurance, but also know that you should? Life insurance is probably something you’re uncomfortable talking about, but it’s far too important to put off. September is life insurance awareness month, making now a good time to reconsider what is really holding […]

    Thank a Soldier

    {September 11th, 2019} by Sheryl J. Moore

    At Wink, we really like to get to know our people. Personally. This morning, my Manager of Awesomeness, Jamie Johnson, received the following email response from a colleague/client in the midst of dealing with some personal challenges. James Hemmerly is not only a member of our Competitive Intelligence community, but a respected colleague/client, and Disabled […]

    NAILBA Announces New Awards for Independent Distribution

    {September 11th, 2019} by Pam Sheehan

    For Immediate Release                                                                Contact: Pam Sheehan                                                                                                             Phone: 303-503-6305                                                                                                             Email: PSheehan@nailba.org   NAILBA Announces New Awards for Independent Distribution Seeking Nominations for 20 industry innovators and trailblazers   (Fairfax, VA, September 3, 2019) NAILBA, the Voice of Independent Distribution (ID), has announced the creation of the ID Twenty Awards. Honoring Independent Distribution’s most courageous […]

    Seven states, D.C. sue SEC over brokerage rules that weaken consumer protections

    {September 11th, 2019} by Associated Press

    Seven states and the District of Columbia have sued the Securities and Exchange Commission, saying the regulatory agency is putting investors in jeopardy by relaxing rules designed to ensure that securities brokers keep the interests of their customers ahead of their own. The lawsuit filed Monday in federal court in New York City asked a […]

    Life Insurers Are Hungry For Staffers: Jacobson

    {September 11th, 2019} by Allison Bell

    Interest rates may be low, regulators may be tough, sales of many of life, health and annuity products are flat — but life, health and annuity issuers say they’re hungry for workers, and much hungrier than issuers of property and casualty insurance. Life, health and annuity issuers expect to increase employment about 2.3% in the coming […]

    Jackson and eMoney Advisor Announce New Alliance

    {September 11th, 2019} by Jackson National Life Insurance Company

    NASHVILLE, Tenn. & RADNOR, Pa.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced a new strategic alliance with eMoney Advisor, a leading provider of technology solutions and services that help people talk about money. The collaboration enables Jackson’s wholesalers to show financial professionals how to use eMoney’s comprehensive financial planning software to evaluate how protected lifetime income […]

    Midland National Life Insurance Company Announces Strategic Accumulator Indexed Universal Life Product

    {September 11th, 2019} by Midland National Life Insurance Company

    WEST DES MOINES, Iowa, Sept. 09, 2019 (GLOBE NEWSWIRE) — Midland National® Life Insurance Company (Midland National), a member of Sammons® Financial Group, Inc. (SFG) and one of America’s leading insurance companies, today announced the launch of its Strategic Accumulator Indexed Universal Life (IUL) insurance product. The new IUL offers strong death benefit protection, a return of premium death benefit option, […]

    Acquiring a Life Insurer — Things You Need to Know Now

    {September 11th, 2019} by Reid Feldman, Daniel Rabinowitz, Kramer Levin Naftalis & Frankel LLP

    With M&A activity for life insurers or blocks of in-force business poised for a possible spike, acquirers of life businesses should consider factors that are peculiar to, or disproportionately affect, the life and annuity sector relative to other types of insurers such as property-casualty (p&c). Such features specific to life companies include the following, which require a […]

    4 people who bought life insurance in their 20s explain why they still think it was the right choice

    {September 11th, 2019} by Tanza Loudenback

    Life insurance usually isn’t top of mind for someone who hasn’t made it to their 30th birthday yet. But it pays off to be ahead of the curve if you’re expecting to have a family to protect one day. Generally, the younger and healthier you are when you buy life insurance, the cheaper it will be, […]

    September’s Life Insurance Awareness Month Is Here: Brooke Shields and Life Happens Drive Home the Importance of Life Insurance

    {September 11th, 2019} by Life Happens

    ARLINGTON, Va., Sept. 9, 2019 /PRNewswire/ — Life Happens, a nonprofit dedicated to educating consumers about the importance of life insurance and other related products for sound financial planning, kicks off its 16th annual Life Insurance Awareness Month (LIAM) campaign with actress, model, designer, and mother Brooke Shields to help educate and remind Americans about the importance of life insurance. […]

    Northwestern Mutual and Knights of Columbus Add Whole Life Policies

    {September 11th, 2019} by Allison Bell

    Two life insurers that are free from the need to report quarterly earnings to shareholders have introduced new whole life insurance products. Northwestern Mutual Life Insurance Company — a Milwaukee-based, policyholder-owned mutual life insurer — has introduced the Whole Life Plus policy. Knights of Columbus — a nonprofit fraternal life insurer based in New Haven, Connecticut — has introduced […]

    Lincoln, Penn Mutual pull insurance products from New York in wake of best-interest rule

    {September 11th, 2019} by Greg Iacurci

    More insurers are deciding to pull products like annuities and life insurance from the New York market as the state’s best-interest rule takes hold. Click HERE to read the full story via InvestmentNews.

    Northwestern Mutual launches customizable life offering

    {September 11th, 2019} by Ryan Smith

    Northwestern Mutual has announced the launch of a simplified, customizable life insurance offering, the Life Plus Series. The product line provides greater flexibility in an ever more complex planning environment, the company said. “Clients face a myriad of challenges and goals – from retirement savings and college funding to long-term care and legacy planning,” said […]

    The importance of life insurance between generations

    {September 11th, 2019} by Yahoo Finance Video

    September is Life Insurance Awareness Month and as the new Penn Mutual Life Insurance Company study shows, parents of the millennial generation are doing their best to safely plan for a family. Penn Mutual Life Insurance Company Chairman & CEO Eileen McDonnell joins Yahoo Finance’s Adam Shapiro and Julie Hyman to discuss. Click HERE to […]

    Insurer Balks at N.Y.’s Tough Annuity Rules

    {September 11th, 2019} by John Kimelman

    New York state’s new tougher rule on the sale of annuities and life insurance products is already taking its toll on the insurance industry. Investment News reports that Jackson National Life Insurance Co. has suspended sales of fee-based annuities in New York in response to a new rule that imposes tougher standards on brokers and life […]

    New “Retire4Real” Online Game Will Help Teens Understand the Importance of Investing for Retirement

    {September 11th, 2019} by Junior Achievement USA

    COLORADO SPRINGS, Colo., Sept. 5, 2019 /PRNewswire/ — Junior Achievement USA (JA) and leading organizations in the retirement services industry have developed a new online game, called Retire4Real, to help teens understand the importance of investing early for retirement. According to Secure Retirement Institute research, just 16% of American workers believe they are saving enough for retirement. Compounding this is the […]

    RetireOne Welcomes Jackson to Fiduciary Marketplace

    {September 11th, 2019} by RetireOne

    SAN FRANCISCO, Sept. 4, 2019 /PRNewswire/ — RetireOne®, the leading independent platform for fee-based insurance solutions, and Jackson National Life Insurance Company® (“Jackson®”) announced a new strategic alliance to bring the carrier’s popular advisory annuity products to fee-only advisors through the independent Registered Investment Advisor (“RIA”) channel. Three of the carrier’s fee-based products are now available through RetireOne’s platform: two […]

    Jackson National Suspends N.Y. Fee-Based Annuity Sales

    {September 11th, 2019} by Christopher Robbins

    Jackson National announced that it suspended the sale of fee-based annuities in New York last month due to the implementation of a new fiduciary regulation. At issue is Insurance Regulation 187, which requires that insurers offer consumers a comparison showing the differences between fee- and commissioned-based annuities. Jackson temporarily halted the annuity sales on Aug. […]

    Northwestern Mutual Reimagines Life Insurance With New Series

    {September 11th, 2019} by Northwestern Mutual

    MILWAUKEE, Sept. 4, 2019 /PRNewswire/ — Northwestern Mutual announced the launch of its new Life Plus Series, a simplified and highly customizable life insurance offering. Building on its more than 160 years of insurance expertise, the company’s new life product line provides greater flexibility, in tandem with industry leading long-term value, for today’s complex planning environment. “Clients face […]

    NY Best-Interest Rule Causing Insurers to Stop Offering Annuities in the State

    {September 11th, 2019} by Alex Padalka

    Now that New York’s tougher rules on the sales of annuities and insurance have gone into effect, insurers are preparing to stop selling the products in the state, according to news reports. Issued by the New York State Department of Financial Services, Regulation 187, as it’s known, requires financial entities selling annuities to consider their clients’ […]

    Understanding How Women Shape Retirement Planning

    {September 11th, 2019} by Portfolio Staff

    With $29 trillion of financial assets in retirement investment households in the United States, women who are the head of the household or a shared decision-maker control or influence $16 trillion, based on research from Global Atlantic Financial Group and Kehrer Bielan. Financial advisors need to consider how women approach these crucial financial decisions. The Understanding […]

    Stop Bashing the Life Policy Summary Update Effort: Birny Birnbaum to Industry Groups

    {September 11th, 2019} by Allison Bell

    A consumer representative says industry groups should ease up on state regulators’ efforts to develop new life insurance illustration summary rules. The National Association of Insurance Commissioners’ Life Insurance Illustration Issues Working Group is in charge of the summary update project. Birny Birnbaum, executive director of the Center for Economic Justice, says representatives from the American […]

    September 11 and Life Insurance Awareness Month

    {September 11th, 2019} by Allison Bell

    The following is an updated version of an article that ran Sept. 11, 2018. Today is the 18th anniversary of the terrorist attacks on the World Trade Center in New York, and on the Pentagon in Washington, D.C. It’s also Life Insurance Awareness Month. One way to observe the day is to reflect solemnly on what […]

    Fraternals Want Congress to Speak Up for IRC Section 501(c)(8)

    {September 11th, 2019} by Allison Bell

    The American Fraternal Alliance — a group for 59 not-for-profit fraternal benefit societies in the United States and Canada — is asking Congress to confirm that it supports the fraternals’ U.S. federal income tax exemption. The alliance is working to line up votes in the House and Senate for two fraternal support resolutions, House Concurrent Resolution 27 […]

    Here Is Annnuities’ Worst Enemy

    {September 11th, 2019} by Allison Bell

    State and federal policymakers are still debating new sales standards proposals that could affect financial professionals who help clients with annuities, and still implementing the new sales standards that have already been adopted. Members of the Insured Retirement Institute and the National Association of Insurance and Financial Advisors are meeting this week, partly to talk […]

    Apple, Apple, Apple, Orange

    {September 11th, 2019} by Jack D. Aiken

    Three times in the past week I came across articles in the financial press that mischaracterized what annuities are, do, and the role they play in retirement planning. These were not intentionally misleading rants such as we often see flipping channels on late night cable or falling out of our junk mail. Nor were they […]

    SEC sued by seven states to kill Reg BI investment-advice rule

    {September 11th, 2019} by Greg Iacurci

    Seven states and the District of Columbia sued the Securities and Exchange Commission and agency Chairman Jay Clayton to overturn an investment-advice rule that is meant to overhaul how brokers work with their clients but that plaintiffs claim is too weak. Click HERE to read the full story via InvestmentNews. 

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