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Archive for October 2019


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  • DOL Rule Killer Scalia Gets Green Light to Rewrite Fiduciary Rule

    {October 30th, 2019} by Alex Padalka

    Newly appointed Labor Secretary Eugene Scalia will be able to take part in drafting the Department of Labor‘s new fiduciary rule despite playing a key role in overturning the previous version of the regulation, according to news reports. The DOL’s career ethics attorneys have determined that neither its own ethics rules nor President Donald Trump administration’s ethics pledge precluded […]

    Security Announcement for #NAILBA38

    {October 30th, 2019} by NAILBA

    NOTICE: Due to increased hotel security procedures, all NAILBA 38 Annual Meeting attendees MUST be registered. This includes access to the Exhibit Hall, General Session, Workshops, Mooers Dinner (this includes guests…have you RSVP’d?), any NAILBA meeting rooms (this includes groups securing meeting rooms via NAILBA), etc.   Some locations will have badge check or roving […]

    Tech Bits: PartnerRe, Principal

    {October 30th, 2019} by Allison Bell

    PartnerRe North America Life is getting ready to test a tobacco use fib detection system from Verisk Analytics Inc., Verisk announced Thursday. If the system works, it could help a life insurer use telephone interview results and applicant-provided data to see whether an applicant has somehow left out information about tobacco use. A life insurer could […]

    Here’s Why Interest Rates Made Supporting Annuities Trickier for Ameriprise This Summer

    {October 30th, 2019} by Allison Bell

    Annuity sales may have been fine this summer, but wild interest rate fluctuations made the third quarter a tough time to manage the investments supporting annuity obligations. Walter Berman, the chief financial officer of Ameriprise Financial Inc., talked about the third-quarter rate rollercoaster Thursday, during a conference call the company held to go over third-quarter performance with […]

    Life Insurers Must Compete Harder With ‘Passing the Hat’: Prudential

    {October 30th, 2019} by Allison Bell

    Prudential Financial Inc. has a message for life insurance professionals, other insurers, and the general public: buying life insurance is a much better deal than “passing the hat” to come up with the cash to pay for a funeral. The Newark, New Jersey-based insurer recently found, when it conducted a survey through Twitter, that 49% of […]

    National Western Life names Rey Perez as President and Chief Operating Officer

    {October 30th, 2019} by National Western Life Group, Inc.

    AUSTIN, Texas, Oct. 29, 2019 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (NWLGI) announced that Rey Perez will assume the role of President and Chief Operating Officer of National Western Life Insurance Company (NWLIC), a wholly owned subsidiary of NWLGI, effective January 1, 2020. Kitty K. Nelson, the current […]

    Apollo to Help Athene Attract More Retail Fund Cash

    {October 29th, 2019} by Allison Bell

    Apollo Global Management Inc. — a company that has been pouring institutional investor cash into the life insurance and annuity sectors — wants one of its major clients, Athene Holding Ltd. — to attract more money from the funds that serve ordinary retail investors. Apollo and Athene today announced a series of transactions that could help Athene break […]

    When Annuities Are a Better Deal for Women Than Men

    {October 29th, 2019} by Benjamin Harris

    When it comes to retirement, women often have it worse than men. They typically have higher poverty rates, lower Social Security benefits, and less saved in 401(k)s. But women do have a leg up on one aspect of retirement: When buying an income annuity through a workplace retirement plan, they can expect higher benefits relative […]

    Yes, There Is A Life Insurance Gender Gap Forbes Finance Council Yaron Ben-Zvi Forbes

    {October 29th, 2019} by Yaron Ben-Zvi

    In honor of Life Insurance Awareness Month in September, my startup released the results of a study evaluating gender, household roles and life insurance. Our aim in conducting the research was to understand whether there are differences in how women and men financially value their lives. Turns out, there are some key disparities, which underscore […]

    FINRA Won’t Nix Suitability Rule in Light of Reg BI

    {October 29th, 2019} by Melanie Waddell

    The Financial Industry Regulatory Authority will not eliminate its suitability rule in light of the Securities and Exchange Commission’s Regulation Best Interest, and plans to submit to its board shortly a rule proposal on sales contests and FINRA’s suitability rule “to conform them to Reg BI,” the broker-dealer regulator’s chief legal officer said Monday. “We’re […]

    Iowa Revokes License of Arizona Insurance Agent Over Annuity Fraud Scheme

    {October 29th, 2019} by Associated Press

    An Arizona insurance agent has lost his Iowa insurance license and is barred for reapplying for 10 years after the Iowa Insurance Division found he fleeced elderly Iowa residents. The division said in a news release that Mark Diamond, of Scottsdale, Arizona, routinely offered free meal seminars to gain the trust of attendees, most of […]

    A Sweet Life Insurance Deal: “Buy, Don’t Die”

    {October 29th, 2019} by Michael Millenson

    Imagine life insurance that tries to keep you from dying. A new John Hancock Insurance product for diabetics wants you to put off your encounter with the hereafter by offering cold cash in the here-and-now. Engage with the company’s diabetes wellness program on a continuing basis, and Hancock will cut your life insurance premium by […]

    Don’t Listen To ‘Bozos,’ Speaker Warns

    {October 29th, 2019} by Susan Rupe

    LIMRA Annual Conference attendees heard from Guy Kawasaki, author, speaker and brand ambassador for Mercedes Benz USA. Kawasaki’s speech included some bad advice, or what he termed “bozosity,” from people who looked into the future and read it completely wrong. Click HERE to read the full story via INN.

    3 advantages of using fixed indexed annuities in retirement

    {October 29th, 2019} by Jamie Hopkins

    Fixed indexed annuities are often pegged as a safer way to invest in the market.  Click HERE to read the full story via InvestmentNews. 

    Globe Life Posts First Earnings Under New Name

    {October 29th, 2019} by Allison Bell

    Globe Life Inc. — the company formerly known as Torchmark Corp. — says it increased the number of agents selling its products in the third quarter by changing agent pay. Executives from the McKinney, Texas-based life insurer and insurance distributor talked about the company’s agent force Thursday, during a conference call the company held to […]

    Principal Adjusts for Falling Treasury Rates

    {October 29th, 2019} by Allison Bell

    Principal Financial Group Inc. is now assuming that interest rates will be lower than it had hoped, and take longer than it had hoped to climb back to a reasonable level. Executives at the Des Moines, Iowa-based life insurer talked about the company’s response to the recent interest rate rollercoaster Friday, during a conference call […]

    Finra Recommends Ejecting Arbitrators Who Demean Women

    {October 29th, 2019} by Miriam Rozen

    Financial advisors take heed: it could backfire badly for Finra hearings if you select lawyers or arbitrators whose behavior places them in the “good ol’ boy” category. Such “stale, pale and male” individuals, prone to making sexist or otherwise inappropriate comments about women, run the risk of being kicked out of proceedings. Finra staff recently recommended […]

    Here’s How MassMutual Is Explaining ‘Open MEPs’

    {October 29th, 2019} by Allison Bell

    A team at Massachusetts Mutual Life Insurance Company is out to show employers and financial professionals that MassMutual is a great source of information about the new “open multiple employer plan” proposals. MassMutual today released a whitepaper that explains what open MEPs are and talks about some of the pros and cons. The Springfield, Massachusetts-based […]

    AIG Unit Seeks to Dismiss Lawsuit Over $5.9 Million in Online Losses

    {October 29th, 2019} by AM Best

    NEW YORK – AIG Specialty Insurance Co., a unit of American International Group Inc., has asked a federal judge to rule that the company does not have to cover $5.9 million in losses incurred by a policyholder attacked by suspected Chinese fraudsters. Attorneys for the company asked Judge Jed S. Rakoff, of the U.S. District […]

    American Financial Group, Inc. Announces Third Quarter Results

    {October 29th, 2019} by American Financial Group

    CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) today reported 2019 third quarter net earnings attributable to shareholders of $147 million ($1.62 per share) compared to $204 million ($2.26 per share) for the 2018 third quarter. Net earnings for the quarter include after-tax charges of $23 million ($0.25 per share) to strengthen the Company’s asbestos and […]

    Great American Life Releases New Endorsement to Further Simplify Advisory Fee Payments

    {October 29th, 2019} by Great American Life

    CINCINNATI–(BUSINESS WIRE)–Less than three months after receiving an IRS Private Letter Ruling (PLR) that eases the taxation of advisory fees, Great American Life® released a new endorsement that goes one step further to simplify the payment of advisory fees from an annuity. The endorsement provides three new benefits for Great American’s fee-based annuity contract owners. First, […]

    AAA Life Implements FAST Components in Under Five Months

    {October 29th, 2019} by FAST

    ISELIN, N.J.–(BUSINESS WIRE)–FAST, a leading software company for the life and annuity industry announced today that AAA Life is in production with FAST insurance components including new business, policy administration and claims. The implementation, which was completed in under five months using a team of five people from FAST and an agile team at AAA […]

    AM Best Downgrades Credit Ratings of Universal Life Insurance Company; Maintains Under Review With Negative Implications Status

    {October 29th, 2019} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating (FSR) to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb-” from “bbb” of Universal Life Insurance Company (Hato Rey, PR) (Universal Life). Concurrently, AM Best has maintained the under review with negative implications status on these Credit Ratings (ratings). AM […]

    Horace Mann Announces New Organizational Structure to Accelerate Profitable Growth and Strengthen Solutions Orientation

    {October 29th, 2019} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today announced a new organizational structure to support the next phase of the company’s growth strategy and its goal of achieving a double-digit core return on equity. These changes clearly align members of the existing senior management team with the company’s customer-centric solutions oriented strategy and better leverage […]

    National Life Launches Innovative New Indexed Universal Life Insurance Products

    {October 29th, 2019} by National Life Group

    MONTPELIER, Vt.–(BUSINESS WIRE)–National Life Group, one of the nation’s fastest growing group of life insurance companies, today enhanced its suite of industry-leading indexed universal life (IUL) products.1 The new FlexLife IUL is designed to meet the needs of consumers in middle America, the most underserved market in the country. And the complementary PeakLife product is […]

    Security Benefit Launches New FIA Series to Help Americans Safely Meet Asset Accumulation Goals

    {October 29th, 2019} by Security Benefit Life Insurance Company

    TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit Life Insurance Company (Security Benefit) today announced the launch of its new Strategic Growth Series Annuities, two new fixed index annuities (FIA) which offer contract-holders the ability to safely accumulate and grow retirement assets without the risk of market losses. These modified single premium deferred fixed index annuities from one of […]

    Security Benefit indexed annuity fraud lawsuit may signal trouble for other insurers

    {October 29th, 2019} by Greg Iacurci

    A lawsuit that alleges Security Benefit Life Insurance Co. engaged in a fraudulent scheme related to its indexed annuities hints at trouble for other indexed annuity shops at a time when the products are growing more popular. Click HERE to read the full story via InvestmentNews.      ………………………………………………………………………………………………………………………………………     “The way that product […]

    Class-Action Suit Targets Security Benefit’s Proprietary Index

    {October 29th, 2019} by John Hilton

    Three consumers filed a class-action lawsuit alleging that Security Benefit Life Insurance Co. defrauded consumers by implementing a “fraudulent scheme” involving a proprietary index used in two fixed indexed annuities. The plaintiffs, from Illinois, Arizona and California, where the suit was filed Oct. 16, claim the company misrepresented returns. “Security Benefit’s fraudulent scheme included the […]

    Ken Fisher’s problem isn’t that he’s a 68-year-old man. It’s his derogatory comments.

    {October 29th, 2019} by Maddy Perkins

    Covering the diversity and inclusion beat at Financial Planning the past three years has left me somewhat desensitized to questions based on spurious reasoning. These queries range from whether the industry needs diversity (it does), whether sexual harassment is a problem at conferences (it is), and even some readers saying that covering conversations and events about […]

    Annuity Update: Security Benefit, Great American, Annuities Genius, Transamerica

    {October 29th, 2019} by Allison Bell

    Security Benefit Life Insurance Company, a unit of Security Benefit Corp., launched two new indexed annuity contracts Monday. The annuities are part of a new Strategic Growth Series Annuities family of annuities. Both products are filed with regulators as non-variable contracts. The Strategic Growth Annuity contract comes without a bonus and is aimed at purchasers who […]

    Finding a Community Connection in a Most Unexpected Place

    {October 29th, 2019} by Thomas Boyle

    As a relatively new professional in the insurance industry and until recently a lifelong New Yorker, moving to Charlotte, North Carolina, from Long Island has been an adjustment. I knew my first order of business would be to begin to establish myself in my new community. What I didn’t know was that I’d find my […]

    Annuities: Love ’em or Hate ’em, Here’s What Advisors Should Know

    {October 29th, 2019} by Bernice Napach

    No matter what you think of annuities, they are growing in popularity and could provide the income that clients approaching retirement are not likely to get from financial markets these days. “It’s an expensive time to retire because financial markets are not giving us much,” said Michael Finke, professor of wealth management at The American […]

    Deferred Income Annuities: Latest Research on Benefits, Laws

    {October 29th, 2019} by Melanie Waddell and Bernice Napach

    Retirees are weathering retirement under “substantial risk and uncertainty” by not choosing a deferred income annuity, a product “that specifically targets longevity risk” and is much loved by economists, according to retirement experts. In their Brookings Institution report — “Can Annuities Become a Bigger Contributor to Retirement Security?” — Martin Baily and Benjamin Harris write […]

    Could Life Annuities Make Reverse Mortgages More Attractive?

    {October 29th, 2019} by Melanie Waddell

    How can reverse mortgages become more attractive to both borrowers and lenders? Life annuities could help, according to a new paper written for the Brookings Institution in Washington. A retiree with a Home Equity Conversion Mortgage receives payment against the value of her home until she dies or moves out of the home, at which […]

    5 Facts About a Big New Retirement Principal Protection Paper

    {October 29th, 2019} by Allison Bell

    Having a lifetime income guarantee at age 85 may be fine, but having a retirement savings principal protection guarantee in place at age 67 is just too expensive, four economists say. Vanya Horneff and three other economists analyze the value of principal protection in a new working paper posted on the website of the National […]

    Is it time for Ken Fisher to step down?

    {October 29th, 2019} by Jeff Benjamin

    Two weeks after Ken Fisher’s infamous comments at the Tiburon CEO Summit took social media by storm the question has evolved from “How could he?” to “How could he still be the company’s chairman?” Click HERE to read the full story via InvestmentNews.

    SEC reportedly probing AIG sales practices for retirement products

    {October 29th, 2019} by Bloomberg News

    American International Group Inc. shares slumped Tuesday amid a report that the Securities and Exchange Commission is probing sales practices for retirement products at a unit that handles plans for school districts and universities. Click HERE to read the full story via InvestmentNews.

    LIMRA CEO: Don’t Stop Pedaling Despite Tough Insurance Trends

    {October 29th, 2019} by John Hilton

    BOSTON — Insurance executives, agents, distributors and everyone else in the industry are all bicycling hard in the face of change trends, said Dave Levenson, president and CEO of LIMRA. The biking analogy was part of Levenson’s first annual message to member companies at the LIMRA 2019 Annual Conference. “You are working so hard. You […]

    Pitching Income Annuities on Greed

    {October 29th, 2019} by Kerry Pechter

    “Longevity” was the theme of the combined Financial Planning Association (FPA) and Academy of Financial Services 2019 annual conference last week. Some 1,800 Continuing Education credit-hungry advisers convened in Minneapolis to receive wisdom from some of the heavy-hitters of the retirement income space. Click HERE to read the full story via RIJ. 

    10 Female Leaders Share Top Tech Trends That’ll Change Your Practice

    {October 29th, 2019} by Janet Levaux

    There are lots of women in different IT leadership roles throughout the financial services industry. So many in fact, that we had to limit the group highlighted here to those making a significant impact on wealth management at a select number of firms. These 10 women are from Investment Advisor magazine’s inaugural top Women in […]

    Greg Lindberg Retains Former FBI Director Louis Freeh to Examine Business Entities

    {October 28th, 2019} by Greg Lindberg

    DURHAM, N.C., Oct. 23, 2019 /PRNewswire/ — Greg E. Lindberg announced today that he has retained Louis Freeh, former Federal Judge and FBI Director, and his firm Freeh, Sporkin & Sullivan to examine and render advice regarding financial aspects of Mr. Lindberg’s business entities, with respect to, among other things, assertions made by the North Carolina Insurance Department, as well […]

    LPL Has ‘Reduced Pricing’ to Help Advisors: CEO

    {October 28th, 2019} by Janet Levaux

    LPL Financial executives laid out their tech-focused growth strategies after releasing strong earnings Thursday and also said the firm has “reduced pricing” in the context of the overall industry movement to zero fees. The independent broker-dealer’s net income jumped 23% and earnings per share 32% year over year to $132 million, or $1.57 per share, […]

    The US Economy Is Giving Mixed Signals

    {October 23rd, 2019} by Columbia Daily Tribune

    For those of us that try to keep up with current economic activity, it seems like it is getting more difficult trying to figure out where this economy is going. There are both positive and negative factors as we get current readings on the overall health of the economy. I will try to address some […]

    Wealth Holders Doubt Next Generation Is Ready to Take Over

    {October 23rd, 2019} by Michael S. Fischer

    Much has been made of the $30 trillion wealth transfer from baby boomers to Gen Xers and millennials. Problem is, many rich families around the world don’t think the next generation is ready to inherit wealth and power, according to a new report. Forty-seven percent of international families surveyed by Campden Wealth with UBS said their next generation was either […]

    Best’s Special Report: Registered Index-Linked Annuities Gaining Foothold in Variable Annuities Segment

    {October 23rd, 2019} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Given the unlimited risk of loss presented by variable annuities and the significant upside limitations imposed by fixed-index annuities, the registered index-linked annuity (RILA) is fast-becoming a more attractive middle-ground product option in the U.S annuity space, according to an AM Best report. A new Best’s Special Report, titled, “Registered Index-Linked Annuities Gaining Foothold in VA […]

    Small Talk, Big Sales

    {October 23rd, 2019} by Sandy Schussel

    Last month marked the passing, at age 97, of Mehdi Fakharzadeh. Here’s a lightly updated version of a blog article that Sandy Schussel wrote about him about six years ago. The original version ran on a ThinkAdvisor sister publication, LifeHealthPro, on Dec. 13, 2013. Mehdi was one of the most successful insurance sales agents in history. […]

    First-Half Ohio Annuity Results Looked Great: NAIC

    {October 23rd, 2019} by Allison Bell

    Annuity issuers with official homes in Ohio and Connecticut posted big premium gains  for the first half of the year. The National Association of Insurance Commissioners (NAIC), a group for state insurance regulators, has published some state-by-state issuer performance data in a new mid-year life, accident and health mid-year analysis. The NAIC bases its data on the reports […]

    New California Law to Affect Life-LTC Hybrids

    {October 23rd, 2019} by Allison Bell

      A new California law could affect the design of life insurance-based long-term care (LTC) hybrid products. The new law, based on Assembly Bill 1209, applies to life-LTC hybrids built around life insurance policies that normally offer access with policy loans or cash withdrawals, and that provide LTC benefits by accelerating payment of death benefits. If […]

    Blog Series Details Sexual Assaults at Financial Events

    {October 23rd, 2019} by Janet Levaux

    A woman in the investment business who was present when advisor Ken Fisher made lewd remarks at an industry event last week is speaking out on what she says is the “unchecked bad behavior [that] runs rampant at many financial services conferences.” Sonya Dreizler, a certified financial planner and head of the consultancy Solutions with […]

    9 of the Best Investment Jokes

    {October 23rd, 2019} by Lynette Gil

    We’re sure you’ve encountered enough investors who thought they knew more than you and then went about showing you how much they didn’t know, which would possibly ruin your day.  So, to help soften those bad memories or briefly alleviate a bad day, take a quick trip through nine pretty funny jokes about investing and […]

    Ken Fisher’s son defends his father on LinkedIn

    {October 23rd, 2019} by Jeff Benjamin

    Ken Fisher, the embattled chairman and founder of Fisher Investments, is getting public support from his son, Nathan Fisher, who posted a statement on LinkedIn Wednesday trying to put some context around his father’s well-documented crude comments from last week. Click HERE to read the full story via InvestmentNews.

    Principal’s Dan Houston takes 2020 ACLI helm

    {October 23rd, 2019} by Insurance Forums Staff

    Principal Financial Group Chairman, President & CEO Dan Houston was elected 2020 Chairman of the American Council of Life Insurers (ACLI) during the 2019 ACLI Annual Conference in Boston on Oct. 14. Officers for the board of directors were also elected during the conference, which featured keynote speakers including Massachusetts Gov. Charlie Baker, Gen. John Kelly, Pulitzer […]

    Accounting Group Postpones Major Life Insurer Rule Shift

    {October 23rd, 2019} by Allison Bell

    The Financial Accounting Standards Board (FASB) has formally agreed to give life insurers more time to cope with new rules that could lead to insurers adding hundreds of millions of dollars in gains and losses to their net results just about every quarter. FASB announced Friday that it has pushed back the effective dates for […]

    Fidelity Pulling $500M From Fisher

    {October 23rd, 2019} by Janet Levaux

    Fidelity Investments is yanking $500 million from Ken Fisher’s investment firm in the wake of his lewd remarks at an industry event, according to Bloomberg report citing sources familiar with the matter. This move brings the total of assets being divested from Fisher’s firm to about $1.8 billion. Overall, Fisher Investments manages some $114 billion, […]

    Ex-Nebraska Sen. Ben Nelson Gives Up Politics For Life Insurance World

    {October 23rd, 2019} by Beatrice Daily Sun (Nebraska)

    It’s been 13 years since Ben Nelson was reelected to the Senate, romping to a second-term victory over a Republican newcomer named Pete Ricketts in 2006. The former Democratic senator – and former two-term governor – won that contest by 164,000 votes, and it marked the sixth Democratic victory in the past eight Senate elections […]

    Annuities Can Help Combat Inflation Risks In Retirement

    {October 23rd, 2019} by Delaware County Daily Times (Primos - Upper Darby, PA

    Today it’s common for Americans to spend two, three or even four decades in retirement. This means people have ample time to relax and achieve a bucket list of dreams. However, the flip side is that retirees need to ensure they have enough savings to last through their lifetime. One complicating factor is that inflation […]

    State Regulators Tackle The Toughest Part Of Its Annuity Sales Model

    {October 23rd, 2019} by John Hilton

    State insurance regulators are getting to the fine details of a best-interest standard for annuities, and the parsing of words is destined to leave some unhappy. The Annuity Suitability Working Group held another two-hour conference call Tuesday in an ongoing, furious bid to nail down language of an annuity sales model law. The group wants […]

    BNY Mellon Investment Management “Fixed Income. Not Fixed Thinking” National Research Study Finds Majority of Americans Surveyed Do Not Understand Fixed Income

    {October 23rd, 2019} by BNY Mellon

    NEW YORK, Oct. 21, 2019 — A new research study released today from BNY Mellon Investment Management, one of the largest asset managers in the world with $1.9 trillion as of September 30, 20191, and the world’s third-largest fixed income manager by assets2, revealed the majority of Americans surveyed have limited understanding about fixed income investing regardless of age, […]

    Looking For A CPA? 16 Tips For Finding The Right One

    {October 23rd, 2019} by Forbes Financial Council

    Whether they’re handling business or personal finances, a good Certified Public Accountant (CPA) can be worth their weight in gold. Most entrepreneurs don’t start their journey with an in-depth knowledge of how to manage and organize business finances, and almost all of us would welcome expert assistance with our taxes. A good CPA can put […]

    History Of Annuities

    {October 23rd, 2019} by Annuity Museum

    Annuities, in one form or another, have been around for over two thousand years. In Roman times, speculators sold financial instruments called annua, or annual stipends. In return for a lump sum payment, these contracts promised to pay the buyers a fixed yearly payment for life, or sometimes for a specified period of term. The […]

    Annuities for American [Indigenous Peoples]

    {October 23rd, 2019} by Annuity Museum

    Throughout the 1800s, annuities played a big role in Native Americans losing their lands to the US Government. During this period it was quite common for the government to entice the Indians into trading their vast lands for trinkets and guaranteed annuities, often at rates that constituted gross underpayment. The tribes were forced into smaller […]

    Opinion: I’m nervous about putting my retirement savings in the stock market: Are indexed annuities a good substitute?

    {October 23rd, 2019} by Dan Moisand

    Q: I’m 67 and am not confident the stock market will provide me good returns through my retirement. An index annuity has been recommended to me, but I see lots of negativity about annuities. Are indexed annuities a good substitute for stocks? —Sam  A.: Sam, I do not view Equity Indexed Annuities (EIAs) or other “indexed-linked” products […]

    Kansas Financial Services Summit to Focus on Entrepreneurship, Talent and Innovation

    {October 23rd, 2019} by Security Benefit

    TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit is again partnering with the Kansas Insurance Department, Greater Topeka Partnership and the Kansas Department of Commerce to present the 2019 Kansas Financial Services Summit, #KFSS19, on Wednesday, November 6. The event will be held starting at 10:45 a.m. at Security Benefit’s Topeka headquarters. Attendees will hear from prominent national and Kansas-area experts […]

    AIG to Report and Host Conference Call to Review Third Quarter 2019 Results on November 1, 2019

    {October 23rd, 2019} by American International Group, Inc

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) will report financial results for the third quarter ended September 30, 2019 before the market opens on Friday, November 1, 2019 and host a conference call that day to review the results at 9:00 a.m. ET. AIG’s press release and financial supplement will be available at approximately […]

    Principal to Host 2020 Outlook Call on Dec. 11, 2019

    {October 23rd, 2019} by Principal

    DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) will release its outlook for 2020 on Wednesday, December 11, 2019. Dan Houston, chairman, president and chief executive officer, and Deanna Strable, executive vice president and chief financial officer, will host a conference call at 10:00 a.m. ET on December 11, 2019, to provide details on the outlook […]

    Worry While You Work: Employees Worrying at Least Once a Week About Personal Finances, Finds John Hancock Financial Stress Survey

    {October 23rd, 2019} by John Hancock Retirement

    Employer Financial Wellness Programs May Help with Stress and Retention TSX/NYSE/PSE: MFC     SEHK: 945 BOSTON, Oct. 22, 2019 /PRNewswire/ – John Hancock Retirement today announced the results of its sixth annual Financial Stress Survey of retirement plan participants, revealing the weight of financial stress on workers and its impact on employers. The survey reports that more than half […]

    Ameritas announces JoAnn Martin to retire; Bill Lester named new CEO

    {October 23rd, 2019} by Ameritas

    LINCOLN, Neb., Oct. 21, 2019 /PRNewswire/ — JoAnn M. Martin, CPA, FLMI, will retire from Ameritas Mutual Holding Company and Ameritas Holding Company as chief executive officer and Ameritas Life Insurance Corp. as chair, effective Jan. 10, 2020. The Boards of Directors named William W. (Bill) Lester to succeed Martin. Martin will continue to serve as a director and vice chair […]

    Caught in the middle: Today’s older adults are caring for adult children and aging parents

    {October 23rd, 2019} by Nationwide Retirement Institute

    COLUMBUS, Ohio, Oct. 16, 2019 /PRNewswire/ — For many older adults, seeing parents, children and even grandchildren is a regular occurrence, often because they are living under the same roof or providing ongoing care. But taking care of extended family can be both a blessing and a challenge for many older adults who balance providing for aging […]

    Ladenburg Institute Of Women & Finance Concludes 8th Annual Symposium To Create Opportunities And Build Community For Women Advisors

    {October 23rd, 2019} by Ladenburg Thalmann Financial Services Inc.

    MIAMI, Oct. 17, 2019 /PRNewswire/ — Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK, LTSH) (“Ladenburg”), a publicly-traded diversified financial services company, today announced the successful conclusion of its eighth annual Ladenburg Institute of Women & Finance Symposium, an invitation-only event held in New Orleans from Oct. 14 to 16. This year’s event brought together more […]

    U.S. Insurance Carriers Embrace Artificial Intelligence, Drones and Other Technologies

    {October 23rd, 2019} by Information Services Group, Inc.

    STAMFORD, Conn., Oct. 17, 2019 /PRNewswire/ — U.S. insurance companies are rapidly adopting new technologies such as artificial intelligence and drones to better serve their customers, and they are looking to business process outsourcing (BPO) providers to help them roll out these advancements, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a […]

    John Hancock Investment Management offers new fixed-income solution suite from veteran Manulife Investment Management team

    {October 23rd, 2019} by John Hancock

    Portfolio managers Howard Greene and Jeff Given bring more than 50 years of combined experience to their disciplined investment process TSX/NYSE/PSE: MFC     SEHK: 945 BOSTON, Oct. 18, 2019 /PRNewswire/ – John Hancock Investment Management today announced the expansion of its suite of fixed-income funds managed by the veteran portfolio management team of Howard Greene and Jeffrey Given. The team at Manulife Investment Management1, John […]

    Nationwide names new Chief Marketing Officer–moves to accelerate innovation momentum

    {October 23rd, 2019} by Nationwide

    COLUMBUS, Ohio, Oct. 22, 2019 /PRNewswire/ — Nationwide is naming a new Chief Marketing Officer while expanding the responsibilities of its Chief Strategy Officer to drive the company’s innovation-related initiatives. Ramon Jones, a 19-year veteran of the company will succeed Terrance Williams, who announced that he is leaving the “Fortune 100” insurance and financial services provider in November. Ramon […]

    Lincoln Financial Group Names New Senior Vice President, MoneyGuard Product Management

    {October 23rd, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today that Heather Deichler has joined the company in the newly-created role of senior vice president and head of Lincoln MoneyGuard® Product Management. In this role, Deichler will oversee product development, pricing and management, for Lincoln’s MoneyGuard solution, one of the industry’s top-selling hybrid life/long-term care funding solution. Deichler […]

    AM Best Downgrades Credit Ratings of Foresters Life Insurance and Annuity Company; Places Credit Ratings Under Review With Negative Implications

    {October 23rd, 2019} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating to “a-“ from “a+” of Foresters Life Insurance and Annuity Company (FLIAC) (New York, NY). Concurrently, AM Best has placed the Credit Ratings (rating) under review with negative implications. The ratings reflect FLIAC’s balance […]

    AM Best Comments on Credit Ratings of Sagicor Financial Corporation Limited and Sagicor Life Inc. Following Announced Acquisition Agreement

    {October 23rd, 2019} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Credit Ratings (ratings) of Sagicor Financial Corporation Limited (SFC) (Bermuda) and its subsidiary, Sagicor Life Inc. (Sagicor) (St. Michael, Barbados), remain unchanged following the announcement that Sagicor has entered into an agreement to acquire approximately USD 1.2 billion of life, annuity and health liabilities of Colonial Life Insurance […]

    Nassau Financial Group to Acquire Foresters Life Insurance and Annuity Company from Foresters

    {October 23rd, 2019} by Nassau Financial Group, L.P.

    HARTFORD, Conn.–(BUSINESS WIRE)–Nassau Financial Group, L.P. (“Nassau”) today announced that it has entered into a definitive agreement with The Independent Order of Foresters (“Foresters”) for Nassau Life Insurance Company (“NNY”) to acquire Foresters Financial Holding Company, Inc. and Foresters Life Insurance and Annuity Company (“FLIAC”) from Foresters. NNY and FLIAC are New York-domiciled life insurance […]

    Nassau Financial to Acquire Foresters’ U.S. Life Business

    {October 23rd, 2019} by Allison Bell

    The company that acquired the Phoenix Companies Inc. in 2016 is pushing ahead with efforts to make itself a major player in the U.S. life and annuity markets. Nassau Financial Group L.P. of Hartford, Connecticut, today announced that it has agreed to acquire Foresters Financial Holding Company Inc. of New York and Foresters Life Insurance […]

    A Major Anniversary

    {October 23rd, 2019} by Evan Simonoff

    There are several ways to look at the financial planning profession since it was conceived 50 years ago. From the vantage point of financial literacy, a major segment of the American population is a lot more knowledgeable than it was in 1969. Far more people have a rudimentary understanding of the principles of savings and […]

    Annuity Exchanges, Full or Partial, Boost Flexibility without Creating Taxes

    {October 23rd, 2019} by Ken Nuss

    Cashing in an annuity usually produces taxable income. Additionally, if you surrender your annuity before the contract term is up, often there’s a surrender charge. But you aren’t stuck for years if you have a low-paying annuity or even a type of annuity, such as a variable annuity, that no longer meets your needs. You […]

    People Love Pensions, Remain Skeptical About Annuities

    {October 23rd, 2019} by Evan Simonoff

    Over the last 20 years, the number of Fortune 500 companies offering traditional defined-benefit plans has dropped from 59% to 16%. If that figure is 16% at Fortune 500 companies, one can reasonably assume that it is lower at other employers. According to BlackRock’s annual DC Pulse survey, the number of defined-contribution plan participants concerned […]

    LifeQuotes.com Announces Major Enhancements to its Comparative Life Insurance Rater, New Innovations Empower Life Insurance Shoppers to Make Smarter Decisions

    {October 23rd, 2019} by LifeQuotes.com

    DARIEN, Ill., Oct. 22, 2019 /PRNewswire/ — LifeQuotes.com, the online life insurance price comparison service that offers instant quotes from 43 leading life insurers and allows customers to buy from any company shown, today unveiled a suite of innovative enhancements that speed up and simplify the life insurance shopping process. “We know that today’s life insurance shoppers […]

    Why are fixed indexed annuities primed for growth?

    {October 23rd, 2019} by Jamie Hopkins

    Fixed indexed annuities, also referred to as equity indexed annuities, have been a hot button issue for decades now.  Click HERE to read the full story via InvestmentNews.   Wink’s Note:  Fixed indexed annuities are not commonly referred to as equity indexed annuities as that is an inaccurate and outdated term. Indexed annuity sales were […]

    2 CEOs Warn of ‘Retirement Tsunami’ in Advisory Industry

    {October 23rd, 2019} by Bernice Napach

    The wealth management industry today is enjoying a sweet spot, but like all good things, that will end in time, according to recent panel discussion. “Fast forward five to 10 years from now and there will be inflection point, a retirement tsunami of advisors,” said Tash Elwyn, president and CEO of Raymond James & Associates, […]

    Families Face ‘Boomerang’ Kid Planning Challenge: Nationwide

    {October 23rd, 2019} by Allison Bell

    Some U.S. families may have an unexpected source of caregiving concern: able-bodied adult children who have not fully fledged. Analysts at Nationwide’s Nationwide Retirement Institute have included a little information about that issue in a new long-term care planning (LTC) survey report. The institute commissioned an online poll of 1,462 adults ages 50 and older, with […]

    Young Workers Loaded With Debt, Skeptical About Social Security’s Future: Wells Fargo

    {October 23rd, 2019} by Bernice Napach

    More than 70% of today’s retirees say they have “no idea what they would do” without Social Security, but younger working generations fear the program won’t be available when they retire, according to Wells Fargo’s 10th annual retirement study. That’s one of the key findings of the study, which examines attitudes and savings of working […]

    DOL Floats Rule on Electronic Disclosures for Retirement Plans

    {October 23rd, 2019} by Melanie Waddell

    The Labor Department on Tuesday issued a proposed rule allowing for electronic disclosure of retirement plan information in lieu of paper statements. Preston Rutledge, head of Labor’s Employee Benefits Security Administration, said at the American Society of Pension Professionals and Actuaries’ annual conference in National Harbor, Maryland, just outside Washington, that the notice of proposed […]

    Inside Fisher’s Hardball Culture

    {October 23rd, 2019} by Sabrina Willmer

    The cold calls go out, hundreds a day, from a dank basement in the redwood hills south of San Francisco. Inside the rambling, rustic-chic house, the billionaire Kenneth Fisher has deployed a division of his mostly young, mostly male acolytes on a single, high-pressure mission: sell. Worn carpets, musty smells, poor insulation: It’s not what […]

    Society for Insurance Research Members Pan for Idea Gold in Charlotte

    {October 23rd, 2019} by Allison Bell

    The people who act as the information prospectors and information miners for U.S. insurers have spent the past three days trying to improve their techniques from separating the gold from the sand. Members of the Society of Insurance Research (SIR) talked about data gathering and data sifting ideas this week at SIR’s 49th annual conference. […]

    Bill Lester to Succeed JoAnn Martin at Ameritas

    {October 23rd, 2019} by Allison Bell

    Ameritas Mutual Holding Company says William Lester will take over from JoAnn Martin as the company’s chief executive officer Jan. 10. Martin has been the CEO of the Lincoln, Nebraska-based mutual insurer since 2009, and she recently ended a one-year term as chair of the American Council of Life Insurers. Lester, her successor, is now the president and […]

    RIA Steward Partners Launches Indie Model

    {October 23rd, 2019} by Janet Levaux

    Hybrid RIA Steward Partners is adding a independent contractor model to its existing business that will provide indie advisors with equity in the firm. The group, which is an employee-owned, independent advisor partnership associated with Raymond James, says is rolling out the 1099 channel “in response to increased advisor requests for local autonomy, coupled with […]

    TD Ameritrade: New Accounts Jumped 49% Since Dropping Commissions

    {October 23rd, 2019} by Jeff Berman

    Since dropping commissions for online exchange-listed stock, domestic and Canadian exchange-traded funds and option trades Oct. 3, TD Ameritrade experienced a 49% increase in average daily new account openings compared with what was seen in the quarter ending Sept. 30 prior to the change, according to the firm. At the same time, according to Tim […]

    Why Teachers Terrify Annuity Issuers

    {October 23rd, 2019} by Allison Bell

    For financial professionals who are new to selling annuities, one of the most sobering things to learn may be that, from the perspective of any company promising to pay a customer a lifetime stream of income, a long life is a risk, not a blessing. Of course, the people who work for issuers want the […]

    Senators Push for Vote on Secure Act Retirement Bill

    {October 23rd, 2019} by Melanie Waddell

    Republican senators are urging Senate Majority Leader Mitch McConnell to bring the Setting Every Community Up for Retirement Enhancement (Secure) Act up for an immediate vote. In a Tuesday letter to McConnell, Sen. Tim Scott, R-S.C., pressed for immediate Senate consideration of the bipartisan bill, which was passed the House by a 417-3 vote on May 23. […]

    John Rugel to Run Global Atlantic’s New Business Service and Operations

    {October 23rd, 2019} by Allison Bell

    Global Atlantic Financial Group is bringing in an Allstate Financial and American General alumnus to make things work. The New York-based annuity issuer, life insurer and reinsurer has hired John Rugel to be the company’s chief operations officer. Rugel, who will be based in Hartford, Connecticut, will be in charge of all in-force and new business insurance service […]

    National Nonprofit Life Happens Celebrates Milestone 25th Anniversary

    {October 23rd, 2019} by Life Happens

    ARLINGTON, Va., Oct. 14, 2019 /PRNewswire/ — Life Happens, a nonprofit dedicated to educating consumers about the importance of life insurance and other related products for sound financial planning, celebrates 25 years as the only third-party organization serving the industry and consumers with tools and resources to inform and empower personal financial responsibility through life insurance. Following […]

    FMO Q&A

    {October 23rd, 2019} by Sheryl J. Moore

    Over the past couple of decades, I have had the pleasure of working with hundreds of FMOs. These distributors drive innovation in product development, have the ability to command sales, and help the independent agent in their quest to best-serve their clients.   I am not just the lady that keeps their secrets; I am […]

    SEC’s ‘Solely Incidental’ Broker-Dealer Exclusion: A Breakdown

    {October 22nd, 2019} by Beth Miller

    On June 5, 2019, the Securities and Exchange Commission adopted a rulemaking package that is applicable to investment advisers and broker-dealers. The package includes two final rules and two interpretations — Regulation Best Interest, Investment Adviser Standard of Conduct Interpretation, Form CRS – Relationship Summary, and Solely Incidental Broker-Dealer Exclusion Interpretation. This is the fourth […]

    Here’s why you should buy life insurance when you are young

    {October 22nd, 2019} by Sharon Epperson and Jessica Dickler

    When you’re just starting out, life insurance may not be your first concern. Putting it off may cost you. Research shows that millennials, who are saddled with hefty student loan bills, have struggled to set money aside for other purchases — from life insurance to buying a home. On average, about 7 in 10 seniors […]

    4 reasons to buy life insurance, even if you already have it through work

    {October 22nd, 2019} by Tanza Loudenback

    About 60% of non-government workers in the United States have access to life insurance through work. It’s a valuable benefit that employers often offer at no cost to employees. Plus, coverage is guaranteed so you don’t have to submit to a medical exam. If you get life insurance for free through work, there’s no reason not to take advantage of […]

    Transamerica Forms a Strategic Alliance with FIDx, Joining the Insurance Exchange (Ix)

    {October 22nd, 2019} by Fiduciary Exchange, LLC (FIDx)

    BERWYN, Pa., Oct. 17, 2019 /PRNewswire/ — FIDx, the first product-agnostic platform to integrate annuity sales with investment products, today announced a strategic alliance with Transamerica to provide annuities to investors and join the Insurance Exchange (Ix) platform. Acting as a bridge between insurance carriers and wealth management platforms, FIDx provides Transamerica access to a pool of advisors who previously […]

    ‘Trusted’ professionals are targeting older Americans

    {October 22nd, 2019} by Bloomberg News

    Terry Ann McIntosh’s financial nightmare began four years ago, soon after she hired a caregiver through a family services website.  Click HERE to read the full story via InvestmentNews.

    What Is Cash Value Life Insurance and How Does It Work?

    {October 22nd, 2019} by Roger Wohlner

    Life insurance provides a death benefit for the policy’s beneficiaries. Life insurance policies come in a number of forms, including cash value life insurance which provides permanent coverage with a savings component.  What Is Cash Value Life Insurance?    Cash value life insurance is a form of permanent life insurance that contains a cash value […]

    NAILBA Announces Winners of 2019 ID Twenty Awards

    {October 17th, 2019} by Pam Sheehan

      For Immediate Release                                                                Contact: Pam Sheehan                                                                                                             Phone: 303-503-6305                                                                                                             Email: PSheehan@nailba.org   NAILBA Announces Winners of 2019 ID Twenty Awards Appreciating 20 of the Industry’s innovators and trailblazers   (Fairfax, VA, October 16, 2019) NAILBA, the Voice of Independent Distribution (ID), has announced the 2019 recipients of the ID Twenty Awards. In the […]

    Life Insurance Is A Luxury, According To Americans Without It

    {October 16th, 2019} by Joyce Blay

    A majority of  Americans are not covered by life insurance, according to a survey by ValuePenguin by LendingTree, a personal finance website. The survey found that more than one-third of all respondents (35%) did not have a life insurance policy. When pressed for the primary reason behind this decision, over 40% of respondents said they […]

    NAIC President-Elect: Move to Cloud, Personnel Part of Planned Deficits

    {October 16th, 2019} by Timothy Darragh

    COLUMBIA, S.C. – Keeping pace with market-level salaries and expenses related to migrating computer systems to cloud-based systems are parts of the National Association of Insurance Commissioners’ 2020 spending plan driving another year of deficit spending, its president-elect said. Incoming NAIC President and South Carolina Insurance Commissioner Raymond Farmer told Best’s News Service the 2019 […]

    Two New Annuities Add to Lincoln Financial Group’s Growing Portfolio for Registered Investment Advisors

    {October 16th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced it has introduced two new products for registered investment advisors (RIAs): a commission-free, single premium immediate annuity (SPIA), Lincoln Insured Income SM Advisory and a commission-free deferred income annuity, Lincoln Deferred Income Solutions SM Advisory. These new solutions will help fee-only advisors provide options for clients seeking protected lifetime income in retirement to help cover their […]

    2 reasons any entrepreneur should consider getting life insurance

    {October 16th, 2019} by Anna Baluch

    When the phrase “life insurance” comes to mind, we often think of protecting our families. Most of us have been taught that life insurance is important, especially if you have a family, as it can ensure your spouse and/or children are cared for in the event you pass away. But what about life insurance to protect your business? If […]

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

    {October 16th, 2019} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of RiverSource Life Insurance Company (Minneapolis, MN) and its wholly owned subsidiary, RiverSource Life Insurance Co. of New York (Albany, NY). These companies represent the key life/health (L/H) insurance subsidiaries of Ameriprise […]

    There’s a New Tax Form for Seniors. Here’s How to Use It.

    {October 16th, 2019} by Daisy Maxey

    A new federal income-tax form may make filing a bit easier for some seniors this year, particularly those who don’t file electronically. The new two-page form, known as 1040-SR, uses a bigger font than the standard form 1040, and eliminates shading in boxes to improve readability. In addition, it includes a chart to help taxpayers calculate […]

    Aprilyn Chavez Geissler Receives the 2019 NAIFA Diversity Champion Award

    {October 16th, 2019} by NAIFA

    FALLS CHURCH, Va. (Sept. 16, 2019) — Aprilyn Chavez Geissler of Albuquerque, N.M., has been recognized as the National Association of Insurance and Financial Advisors’ 2019 Diversity Champion. She is First Executive Vice President at Gateway Insurance and Financial Services, Inc., a national firm with over 200 office locations and a corporate home office based […]

    NAIFA Creates Talent Development Center For Financial Service Professionals

    {October 16th, 2019} by NAIFA

    Falls Church, Va. – The National Association of Insurance and Financial Advisors (NAIFA) announced the creation of the Talent Development Center which focuses on providing personal development programs to serve every stage of a financial service professional’s career. The new Center was announced today at NAIFA’s 2019 Performance + Purpose Conference held in Orlando, Florida. […]

    Fisher Investments launches diversity task force

    {October 16th, 2019} by Jeff Benjamin

    Fisher Investments is launching a diversity and inclusion task force in the wake of crude comments made earlier this week at an industry conference by company founder Ken Fisher, according to internal memos obtained by InvestmentNews. Click HERE to read the full story via InvestmentNews.

    Can Healthy Habits Contribute To Better Financial Security?

    {October 16th, 2019} by St. Charles County Journal (MO)

    When it comes to feelings about finances, working Americans are practically split down the middle, according to a recent study. Fifty-five percent of employed Americans feel they are on the right track to achieving financial well-being, while the other 45 percent feel they are not headed in the right direction, according to the recent Lincoln […]

    Judge rules East Haddam man won’t get murdered wife’s life insurance policy even though no one has been charged in her death

    {October 16th, 2019} by Dave Altimari

    A federal court judge has ruled that an insurance company doesn’t have to pay an East Haddam man the $257,000 insurance policy belonging to his murdered wife even though no one has been charged in her 2018 death. Judge Victor Bolden recently ordered the Zurich American Life Insurance Company to place Sandra Kalosky’s insurance benefit […]

    The Penn Mutual Life Insurance Company Announces New Managing Partner of Lakeshore Wealth Strategies

    {October 16th, 2019} by The Penn Mutual Life Insurance Company

    HORSHAM, Pa. – October 15, 2019 – The Penn Mutual Life Insurance Company (Penn Mutual) is pleased to announce Teresa M. Fitzgerald as the new managing partner of Lakeshore Wealth Strategies, its Chicago agency. With a background in strategic market and business development, Fitzgerald is in prime position to lead the agency toward optimal growth. Fitzgerald joined […]

    Life Insurers Trade Group Elects 2020 Chairman And Board Of Directors

    {October 16th, 2019} by American Council of Life Insurers

    BOSTON, Oct. 14, 2019 /PRNewswire/ — The American Council of Life Insurers (ACLI) today elected its chairman, officers and Board of Directors at the 2019 ACLI Annual Conference. Massachusetts Gov. Charlie Baker, Gen. John Kelly, Pulitzer Prize-winning author Doris Kearns Goodwin, and ACLI President and CEO Susan Neely are among featured speakers at the event. ACLI’s member companies serve the financial and retirement needs […]

    Recession Fears on the Rise as Market Volatility Persists

    {October 16th, 2019} by Allianz Life Insurance Company of North America

    Allianz Quarterly Market Perceptions Study Shows Americans are Increasingly Worried about a Recession; Also Indicates Worrisome Trend of Not Protecting Retirement Assets despite Ongoing Volatility Key Findings Snapshot: Half of Americans now say they are worried a major recession is right around the corner, up from 46% in Q1 Fewer people say now is a […]

    Kiplinger’s: How To Turn Your Client’s Nest Egg Into Income Stream For Years

    {October 16th, 2019} by Richmond Times-Dispatch (VA)

    As you near retirement, you might look back and think that saving for this next stage of life was the easy part. During your working years, the big decisions were how much to save and where to invest. But now it’s time to switch gears. Instead of accumulating assets, you must figure out how to […]

    NY Producers, Carriers ‘Feeling The Pressure’ As Reg 187 Deadline Looms

    {October 16th, 2019} by John Hilton

    On Feb. 1, 2020, New York will apply Regulation 187 to all life insurance sales in the state. It remains to be seen whether carriers and producers are ready for it. The biggest challenge is the lack of a suitability standard for life insurance, said Cailie Currin, CEO of Currin Compliance Services. Click HERE to […]

    Tiburon Executive: Ken Fisher Will Never Be Invited Back

    {October 16th, 2019} by John Hilton

    Ken Fisher, billionaire money manager of Fisher Investments, is under fire for sexually charged remarks made during a CEO summit this week in San Francisco. Fisher made the remarks during a “fireside chat” at the Tiburon Advisors’ CEO Summit, which has traditionally been a place for industry execs to speak candidly and off the record […]

    Jackson Charitable Foundation Donates Personal Finance Curriculum to 500 High Schools Across the Country

    {October 16th, 2019} by Jackson Charitable Foundation,

    October 09, 2019 09:00 AM Eastern Daylight Time NASHVILLE, Tenn.–(BUSINESS WIRE)–Jackson Charitable Foundation, the charitable-giving arm of Jackson National Life Insurance Company® (Jackson®), today announced a $1 million contribution to Ramsey Education to sponsor their Foundations in Personal Finance curriculum in 500 high schools across the country for the 2019-2020 school year. The Foundation, which has a mission to […]

    Annuities In The Digital Age

    {October 16th, 2019} by Katie Thompson

    Retirement anxiety has been persistent since the Great Recession. Fewer than 40% of nonretired adults said they think their retirement savings are on track, according to an annual Federal Reserve System poll. And 25% of workers have no retirement savings or pension. While the findings are alarming, the surveys represent a significant opportunity for advisors […]

    How The Loan Ranger Can Save Policies In Peril

    {October 16th, 2019} by Anthony Giannone

    There are many sales ideas that revolve around the idea that the cash value of a whole life policy is akin to the policyholder having their own private bank from which loans can be taken. And there is absolutely no reason a policy owner would not do exactly that. Makes sense. What does not make […]

    Thank you, Ken Fisher?

    {October 16th, 2019} by Gavin Spitzner

    Thank you, Ken Fisher, for shining a light on critically important issues. Click HERE to read the full story via InvestmentNews.

    JourneyGuide Announces Deployment of Newest Version of its Retirement Planning Software Complete with Annuity Products and DOL Technology

    {October 16th, 2019} by JourneyGuide, Inc

    FORT WAYNE, IND. (PRWEB) OCTOBER 11, 2019 JourneyGuide, Inc., an innovative retirement income planning software provider for financial advisors looking to deliver holistic advice, announced it has completed integration of its annuity platform into its retirement planning software product. As a result of this integration independent financial advisors, dually registered and fee-based RIAs, and banking advisors […]

    Independent Broker Dealer, Prospera Financial Services Expands Resources for Female Advisors

    {October 16th, 2019} by Prospera Financial Services

    DALLAS, Oct. 15, 2019 /PRNewswire/ — Prospera Financial Services (Prospera) today announced their strategic partnership with The W Source™, a nationwide networking organization for female professionals. The partnership will aim to support female financial advisors’ businesses through referrals and to help drive the advancement of women within the industry. The W Source™ was launched in September 2017 with corporate offices […]

    BMO Insurance Launches Enhanced Market Indexed Account Exclusively On Universal Life Insurance Policies

    {October 16th, 2019} by BMO Financial Group

    TORONTO, Oct. 10, 2019 /CNW/ – BMO Insurance today announced the launch of the North American Equity Enhanced Market Indexed Account (EMIA), a new investment option available exclusively on its universal life insurance policies. “People in Canada want more certainty when it comes to their life insurance policies,” said Steven Cooney, Senior Vice President, Head of Individual Life and Annuities, […]

    Iowa Seeks Oversight Over Failed Preneed Funeral Business

    {October 16th, 2019} by Allison Bell

    Officials at the Iowa Insurance Division are going to court in an effort to get control of a preneed funeral services provider that is no longer in operation. Iowa Insurance Commissioner Doug Ommen recently filed a request for receivership over Joyce Funeral Home Inc. and Joyce-Alesch Funeral Home of Emmetsburg, Iowa, with a state court in […]

    Life Insurers Mobilize for 2020

    {October 16th, 2019} by Allison Bell

    U.S. life insurers’ top trade group, the American Council of Life Insurers, has named Dan Houston to be the organization’s chairman in 2020, as the nation moves toward the general elections. Houston is the chairman, president and chief executive officer of Principal Financial Group Inc. of Des Moines, Iowa, a life insurer and asset manager […]

    Women in Insurance & Financial Services Event Attracts High-Powered Sponsors

    {October 16th, 2019} by Allison Bell

    Women in Insurance & Financial Services has attracted a top-flight list off backers for the WIFS National Conference it’s holding this week in Louisville, Kentucky. WIFS started the three-day event today. Before the conference started, organizers predicted the event would attract about 400 attendees, with about 40% having roots in insurance, 40% have roots in financial […]

    Genworth Suitor Puts Cash in Real Estate Subsidiary

    {October 16th, 2019} by Allison Bell

    China Oceanwide Holdings Group Company Ltd. and affiliates have provided the equivalent of about $300 million in interest-free loans in 2018 for Fanhai Holdings Co. Ltd., a real estate development affiliate. The board of Oceanwide Holdings Ltd. disclosed the cash support for Fanhai Saturday, in a special announcement. China Oceanwide is the Beijing-based real estate and […]

    3 Things to Know About Q3 Annuity Issuers Earnings

    {October 16th, 2019} by Allison Bell

    The newly renamed Globe Life Inc. (which was previously known as Torchmark) is preparing to kick off the earnings release season for U.S. life insurers Oct. 22. Principal Financial Group Inc. will start the earnings release season for the top annuity issuers Oct. 23. For any insurers with much life insurance, annuity, or long-term care insurance […]

    Mutual of Omaha and RGA Test Blockchain Re Concept

    {October 16th, 2019} by Allison Bell

    An insurer and reinsurer recently tested whether a blockchain technology-based system could help with a simulated reinsurance administration job. RGAX, a subsidiary of Reinsurance Group of America Inc., worked with Mutual of Omaha to have a distributed ledger system process the flow of monthly premium payments associated with a reinsurance treaty. The distribution of the […]

    The 7 Worst States for Private Retirement Income

    {October 16th, 2019} by Allison Bell

    The Census Bureau has come out with new retirement income survey data for 2018. One thing the survey has shown: Many retiree households are making do solely with Social Security benefits. They have no pension income, and no individual annuity income. The percentage of each state’s households collecting Social Security benefits ranges from 23%, in […]

    NAIC May Upgrade the SERFF Filing Database System

    {October 16th, 2019} by Allison Bell

    The National Association of Insurance Commissioners (NAIC) is starting a project that could lead to big changes in a major insurance rate and form database. The NAIC will be commissioning an outside review of its System for Electronic Rate and Form Filing (SERFF). Insurers can use SERFF to file documents with state insurance regulators in 47 states. […]

    How Advisors Can Help Families With Special-Needs Children

    {October 16th, 2019} by Andrea McGrew

    Special-needs families routinely face many challenges, whether emotional, physical or financial, that can drain precious energy and resources. On a daily basis, they must often try to absorb complex information on medical issues and treatment, health insurance and educational or work accommodations; tackle issues with transportation and living spaces, and juggle an array of appointments. […]

    Rick Wortman to Lead New York Life Insurer Group

    {October 16th, 2019} by Allison Bell

    Rick Wortman will begin a two-year term as chair of the Life Insurance Council of New York (LICONY) board starting in January, Wortman is executive vice president and chief marketing officer at Security Mutual Life Insurance Company of New York, according to LICONY. He will succeed Dave Hattem, who is the chief legal officer at […]

    Foresters Replaces Its Main Whole Life Policy

    {October 16th, 2019} by Allison Bell

    Foresters Financial is replacing the Advantage Plus Whole Life policy with a new policy, the Advantage Plus II Participating Whole Life product. The new policy will offer lower premiums, according to Foresters. The member-owned fraternal insurer says the policy offers a number of extra benefits, such as a chance to compete for scholarships, family fun […]

    Ken Fisher’s Off-Color Comments at Conference Spark Debate

    {October 16th, 2019} by Janet Levaux

    An advisor is speaking out on comments made by Ken Fisher at a fireside chat on Tuesday that “truly horrified and disgusted” him. Fisher, however, says his remarks are being taken out of context and apologizes for any offense they may have caused. In a video posted on Twitter early Wednesday, Alex Chalekian said Fisher’s talk […]

    Lincoln Financial Adds 2 Commission-Free Annuities

    {October 16th, 2019} by Allison Bell

    Lincoln Financial Group has added two annuities aimed at fee-based advisors. The Radnor, Pennsylvania-based company has started selling the Lincoln Insured Income Advisory annuity and the Lincoln Deferred Income Solutions Advisory annuity. The Lincoln Insured Income Advisory annuity is a single-premium immediate annuity, or SPIA. The Lincoln Deferred Income Solutions Advisory annuity is a deferred […]

    FINRA’s BrokerCheck Is Being ‘Gamed’: Lawyers

    {October 16th, 2019} by Melanie Waddell

    The Financial Industry Regulatory Authority’s BrokerCheck is unreliable as it’s being “systematically gamed, exploited and abused with one-sided hearings, manipulation of arbitrator selection, and deletion of significant customer complaints,” according to a just-released report by the Public Investors Advocate Bar Association. PIABA’s report, which analyzes the handling of 1,078 FINRA arbitration cases from 2015 to […]

    CFP, CPA … CKA? Why a Christian designation is gaining momentum

    {October 16th, 2019} by Tobias Salinger

    As more advisors seek to connect their faith with their businesses, a Christian financial planning certification is on the rise at the largest independent broker-dealer. More than 75 LPL Financial advisors are Certified Kingdom Advisors and around 500 advisors and other staff members participate in a support group at the firm, according to planner Bryan […]

    Senator Fired Up Over ‘Hasty’ Shakeup at DOL Unit

    {October 16th, 2019} by Melanie Waddell

    Welcome back to Human Capital! Sen. Patty Murray, D-Wash., ranking member on the Senate Health, Education, Labor and Pensions (HELP) Committee, is fired up over the Labor Department’s “hasty” move to reorganize its Employee Benefits Security Administration — the unit in charge of a new fiduciary rulemaking — after she said to hold off. She’s […]

    Regulators Strive To Fit Annuity Sales Reg Into Dodd-Frank Framework

    {October 16th, 2019} by John Hilton

    State regulators crafting new annuity sales rules hit a snag Tuesday and called on the lawyers to make sure state supervision of indexed annuities is preserved. The Annuity Suitability Working Group is holding two-hour conference calls in a bid to finally complete the model law before the National Association of Insurance Commissioners’ fall meeting in […]

    Why Lower Interest Rates Aren’t Good News for Retirees

    {October 16th, 2019} by Nahum Daniels

    Interest rates keep dropping, causing rising concern among some retirees, financial experts say. That’s because, while cutting lower interest rates can stimulate the economy by making it cheaper to borrow, consumers usually earn less interest on their savings. Falling interest rates are part of what economists call “financial repression,” which can pose challenges to retirees […]

    Sagicor Life Insurance Company Announces Launch of Peace Assured

    {October 16th, 2019} by Sagicor Life Insurance Company

    SCOTTSDALE, Ariz., Oct. 9, 2019 /PRNewswire/ — Sagicor® Life Insurance Company (Sagicor) is pleased to announce the launch of Peace AssuredSM. This whole life product offers affordable, permanent life insurance protection without medical exams1 and a guaranteed premium that is locked in for the life of the insured.2 Peace Assured supports Sagicor’s continued commitment to family, friends and neighbors […]

    Did you know that the IRS has 59 Compliance Campaigns? Have your Audit Plan Ready!

    {October 16th, 2019} by Stanley Foodman, Foodman CPAs & Advisors

    IRS Large Business and International (IRS LBI) currently has 59 Active Compliance Campaigns.  The purpose of the IRS compliance campaign strategy is to redefine large business compliance work and build a supportive infrastructure inside the LBI.  The campaigns require strategic planning and deployment of IRS knowledge resources in order to address non-compliance issues. The campaigns […]

    Replacing Life Insurance Policy Triggers Change in Suicide Coverage

    {October 16th, 2019} by Larry P. Schiffer

    Replacing life insurance has ramifications.  In a recent Third Circuit case, the ramifications resulted in the loss of full policy benefits. In Lomma v. Ohio Nat’l Life Ass. Corp., No. 18-2675, 2019 U.S. App. LEXIS 30151 (3d Cir. Oct. 8, 2019), the insured had a universal life insurance policy in effect since 1986.  In August 2007, […]

    FGL Holdings Schedules Third Quarter 2019 Earnings Release, Conference Call and Webcast

    {October 16th, 2019} by FGL Holdings

    GEORGE TOWN, Cayman Islands, Oct. 8, 2019 /PRNewswire/ — FGL Holdings (NYSE: FG), a leading provider of fixed indexed annuities and life insurance, announced today that it will release financial results for the third quarter ended September 30, 2019 after the market closes on Wednesday, November 6, 2019. A live webcast and conference call will be held on Thursday, November 7, 2019 at 9:00 a.m. […]

    TruChoice Financial Group Becomes One

    {October 16th, 2019} by TruChoice Financial Group

    MINNEAPOLIS, Oct. 10, 2019 /PRNewswire/ — Since the creation of TruChoice Financial Group (TruChoice) in early 2018, the company’s ultimate vision has been centered on bringing its four (4) founding firms together under the TruChoice brand as “One TruChoice.” TruChoice is excited to announce this process has begun. TruChoice is not new to the industry. They have […]