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Archive for April 2020

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  • Global Atlantic Launches Global Accumulator Indexed Universal Life Policy

    {April 29th, 2020} by Global Atlantic Financial Group

    DES MOINES, Iowa–(BUSINESS WIRE)–Global Atlantic Financial Group, a leading U.S.-focused retirement, life insurance and reinsurance company, recently launched its newest indexed universal life policy, Global Accumulator IUL. Issued by Accordia Life and Annuity Company, a subsidiary of Global Atlantic, Global Accumulator is an accumulation-focused IUL product that offers a variety of indexed strategies, including two […]

    Equitable Holdings Announces Preliminary First Quarter 2020 Results

    {April 29th, 2020} by Equitable Holdings

    NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (“Equitable Holdings”, “Holdings”, or the “Company”) (NYSE: EQH) today announced preliminary first quarter financial results, including an update on the Company’s capital and liquidity positions and balance sheet strength. The Company will release its full first quarter 2020 financial results on Thursday, May 7, 2020 after the market close. “As […]

    Fed easing clobbers fixed annuities

    {April 29th, 2020} by Editorial Staff

    But sales of registered index-linked annuities (RILAs, aka ‘structured variable annuities’) posted a record high. RILAs offer more upside potential but less downside protection than fixed indexed annuities. Fixed annuities of all kinds were collateral damage of the Fed’s interest-rate easing move in March, as the central bank responded to the COVID-19 related crash in […]

    Kansas City Life Declares Quarterly Dividend

    {April 29th, 2020} by Kansas City Life

    KANSAS CITY, Mo., April 27, 2020 /PRNewswire/ — The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.27 per share on April 27, 2020. The dividend will be payable on May 13, 2020, to stockholders of record on May 7, 2020. Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri. The Company’s primary business is providing financial protection through the sale of life insurance and annuities. The Company operates in 49 states and the District of Columbia. For […]

    New Study Shows Majority of Americans Fear Contracting COVID-19 More Than Facing a Recession

    {April 29th, 2020} by Nationwide

    COLUMBUS, Ohio, April 22, 2020 /PRNewswire/ — Even as the COVID-19 pandemic is upending the global economy, driving unprecedented market volatility and record jobless claims, a clear majority of American adults age 18+ (59%), as well as a subset of U.S. investors with investable assets of $100,000 or more (61%), say they fear contracting COVID-19 more than facing a […]

    Implications of coronavirus for North American life and annuities writers

    {April 29th, 2020} by Ramnath Balasubramanian, Alexander D’Amico, and Jonathan Godsall

    During the COVID-19 pandemic, businesses are rightly focused on securing their employees’ and customers’ safety, as well as keeping their doors open with immediate business-continuity measures. As the effects of the crisis continue to unfold, it is hard to overstate the complexity of the challenge facing the North American life and annuities sector. Uncertainties around […]

    FBL Financial Group Provides Additional Information Regarding Its 2020 Annual Meeting of Shareholders

    {April 29th, 2020} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) (the “Company”) announces today that due to ongoing concerns relating to the coronavirus (COVID-19), the Company’s Class A common shareholders will be able to participate in the Company’s 2020 Annual Meeting of Shareholders virtually, via live audio webcast. As previously announced, the Company’s 2020 Annual Meeting […]

    AM Best Affirms Credit Ratings of Protective Life Corporation and Its Key Life Subsidiaries

    {April 29th, 2020} 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 the primary life insurance subsidiaries of Protective Life Corporation (headquartered in Birmingham, AL), collectively known as Protective Life. Additionally, AM Best has affirmed the Long-Term ICR of “a-” and the existing Long-Term Issue Credit Ratings […]

    Athene Holding Ltd. to Announce First Quarter 2020 Financial Results and Host Conference Call on May 8, 2020

    {April 29th, 2020} by Athene Holding, Ltd.

    PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd. (NYSE: ATH), a leading provider of retirement savings products, announced it will release financial results for the first quarter 2020 on Friday, May 8, 2020, before the opening of trading on the New York Stock Exchange. The news release, financial supplement, and earnings presentation will be available on the ir.athene.com website. Management […]

    Principal® Announces First Quarter 2020 Results

    {April 29th, 2020} by Principal

    DES MOINES, Iowa–(BUSINESS WIRE)–During the first quarter of 2020, Principal Financial Group® (Nasdaq: PFG) managed and responded to the global COVID-19 pandemic – successfully redirecting resources and efforts to maintain operations, continuing to serve customers worldwide, and keeping our employees safe. “The COVID-19 health crisis has touched every aspect of our lives and our business, and […]

    Federal Life Insurance Company Selects DXC Technology to Enhance Policy Buying Experience for Customers and Agent

    {April 29th, 2020} by Federal Life Insurance Company

    TYSONS, Va.–(BUSINESS WIRE)–Federal Life Insurance Company, based in Riverwoods, IL just northwest of Chicago, has gone live with DXC Assure for Life and Wealth to enhance the policy buying experience for their customers and agents, streamline key processes, and drive business growth. DXC’s solution is built on a scalable, cloud-based architecture, implemented on Amazon Web […]

    Permanent Life Insurance Options

    {April 29th, 2020} by Ashley Chorpenning

    Life insurance is designed to financially protect your loved ones in the event you pass away. If you’re shopping for life insurance and decide you need coverage throughout your entire life, permanent life insurance guarantees lifelong protection and comes with a cash value component. While permanent life insurance is more expensive and complicated than term life […]

    Most Consumers Baffled By Annuities, Study Finds

    {April 29th, 2020} by Staff

    According to a recent Secure Retirement Institute study, only 1 in 4 consumers can correctly answer at least 7 out of 10 annuity-related questions. In addition, more than 40% answered “not sure” to each of the 10 questions. “Our study annuity owners go to the head of the class when it comes to understanding how […]

    Lawsuit Details Alleged Sexist Culture at Morgan Stanley

    {April 29th, 2020} by Alex Padalka

    Morgan Stanley is facing a lawsuit from one of its former financial advisors accusing the firm of allowing a sexist working environment that derailed her career at the wirehouse. Kelley McGoldrick — who was at Morgan Stanley from 2012 to 2017, according to BrokerCheck — claims the wirehouse’s “sexist culture and conduct, which deliberately deprived her of income and […]

    SEC: Only Registered Advisors Can Call Themselves ‘Advisors’

    {April 29th, 2020} by Alex Padalka

    The SEC has clarified that under Regulation Best Interest it will not tolerate broker-dealers calling themselves “advisors” unless they’re registered as investment advisors, except in certain cases. In an update to its FAQ for Reg BI, the SEC says that broker-dealers who use the terms “adviser” or “advisor” in their titles or their firms’ names without […]

    RetireOne Adds Structured Notes to Platform with HALO Partnership

    {April 29th, 2020} by RetireOne

    SAN FRANCISCO and CHICAGO, April 22, 2020 /PRNewswire/ — Halo Investments, Inc. (“Halo”) and RetireOne®—the leading independent platform for fee-based insurance solutions—announced a partnership that expands RetireOne’s portfolio protection offerings with structured notes. The partnership between Halo and RetireOne will further cement with the addition of annuities on the platform in the second half of 2020. “Using Halo’s powerful, easy-to-use […]

    Sales of Index-Linked Variable Annuities Shine Again

    {April 29th, 2020} by Allison Bell

    Sales of variable annuities outperformed sales of fixed annuities in the first quarter, according to new, preliminary insurer survey data from the Secure Retirement Institute. Insurers reported that their sales of individual variable annuities in the United States increased 16% between the first quarter of 2019 and the latest quarter, to $26.5 billion. Sales of […]

    Confidence in Retirement Security Remains High Despite Pandemic

    {April 29th, 2020} by EBRI

    WASHINGTON – April 23, 2020 – The 2020 Retirement Confidence Survey (RCS), fielded in January, found 77 percent of retirees are confident in their ability to live comfortably throughout retirement, down slightly from 82 percent in 2019. Despite the subsequent pandemic, that number barely changed when the survey was re-fielded in late March (76 percent). […]

    Pandemic Amplifies Message of Financial Literacy Month

    {April 29th, 2020} by Aimee DeCamillo

    For most of us, April has traditionally been the month of taxes, spring holidays, and that old nursery rhyme about April showers. It is often seen as the month of rejuvenation. Perhaps less known is another significant event that occurs every year at this time — Financial Literacy Month. The month set aside to teach […]

    More Than Half Of U.S. Workers Interested In Guaranteed Income

    {April 29th, 2020} by Staff

    According to the new Secure Retirement Institute study, more than half (56%) of U.S. workers are interested in investing in a guaranteed lifetime income option within their employer’s retirement savings plan if it was available to them. Of those who are currently saving in their employer’s defined contribution (DC) plan, 61% say they would be […]

    Is Now a Bad Time for Advisors to Retire?

    {April 29th, 2020} by Robert Goff

    As clients and advisors navigate today’s quickly evolving and uncertain landscape, many have had to change previously well-laid-out plans. Vacations, work travel and even some life events, such as weddings, have been rescheduled or postponed due to the novel coronavirus. Amid all of this, a number of advisors who were planning to retire this spring […]

    For Future Tax Flexibility, Consider a Variable Annuity

    {April 29th, 2020} by Scott Stolz

    As the market headed toward the 11th anniversary of the bull market, many advisors found themselves with a dilemma: How do you reduce client equity exposure without incurring substantial capital gains? Do you just bite the bullet by selling equities and moving the proceeds into a more conservative asset class, or do you just hold […]

    Retirement Savers Kept Saving in Q1: Fidelity

    {April 29th, 2020} by Michael S. Fischer

    The market downturn caused average 401(k), IRA and 403(b) balances to fall in the first quarter, but contributions to retirement accounts held steady, with some investors actually increasing their savings, according to the latest analysis of retirement savings trends released Friday by Fidelity Investments. The average 401(k) balance was $91,400, down 19% from the record high […]

    Equitable Records $12 Billion in Hedging Gains

    {April 29th, 2020} by Allison Bell

    Equitable Holdings Inc. announced Monday that a $12 billion gain the value of its hedging arrangements will help it report $5.2 billion to $5.4 billion in net income for the first quarter. Operating earnings will probably be about $500 million to $515 million, the New York-based life insurer said in an earnings preview. Equitable is preparing to put out […]

    We Have Plenty of Cash: Principal

    {April 29th, 2020} by Allison Bell

    Principal Financial Group Inc. earned hundreds of millions of dollars in the first quarter, and it has plenty of cash, the company announced Monday. The Des Moines, Iowa-based life insurer became the latest company to try to calm investors down. The company noted that, in response to the COVID-19 pandemic, about 95% of its 18,000 employees are […]

    How the Pandemic Is Affecting Retirement Confidence: EBRI

    {April 28th, 2020} by Ginger Szala

    Most Americans are very or somewhat confident about having enough money to live comfortably throughout their career, or at least they were before the rise of the coronavirus pandemic, found the 2020 Retirement Confidence Survey by the Employee Benefit Research Institute and Greenwald & Associates. A subsequent survey done at the end of March showed […]

    New York Gets a Deputy Superintendent: Personnel Matters

    {April 28th, 2020} by Allison Bell

    The New York State Department of Financial Services has hired Mona Bhalla to be the department’s deputy superintendent for life insurance. Bhalla previously was a senior managing director and corporate secretary at TIAA. Bhalla also has been corporate secretary and senior securities counsel at AllianceBernstein L.P. Click HERE to read the full story via ThinkAdvisor.

    Globe Life Agents Shift to Virtual Sales Strategies

    {April 28th, 2020} by Allison Bell

    Executives from Globe Life Inc. say COVID-19-related unemployment has helped the company recruit new agents, but that disruptions in state licensing exam programs slowed efforts to put the new agents to work. Larry Hutchison, Globe Life’s co-chief executive officer, talked about the licensing delays Thursday, during a conference call the company held to go over […]

    Title Insurer Says F&G Deal Will Make It Stronger

    {April 28th, 2020} by Alissa Bell

    Executives at Fidelity National Financial Inc., a big title insurer, say they’re eager to complete the company’s $2.7 billion acquisition of Fidelity & Guaranty Life Insurance Company. Fidelity National is a Jacksonville, Florida-based company that reported $8.5 billion in revenue in 2019. F&G is an annuity issuer that generated $2.1 billion in revenue in 2019. The company […]

    Global Atlantic Adds Indexed Universal Life Policy

    {April 28th, 2020} by Allison Bell

    Global Atlantic Financial Group has introduced the Global Accumulator indexed universal life insurance policy. Global Atlantic is writing the policy through its Accordia Life and Annuity Company subsidiary, which is based in Des Moines, Iowa. Purchasers can pay an extra charge to get a chance to accumulate more policy value. A Wellness for Life rider […]

    Tell Us What COVID-19 Is Doing to 2021 Prices: Consumer Reps to State Reguators

    {April 28th, 2020} by Allison Bell

    Consumer representatives want health insurers to give details about how COVID-19 is affecting their proposed 2021 major medical insurance rates. Eighteen of the reps have asked the National Association of Insurance Commissioners (NAIC) to require insurers to put specific COVID-19 impact information in their rate filings. “General statements or premium surcharges based on uncertainty provide […]

    7 Things COVID-19 Has Taught Your Youngest Annuity Prospects

    {April 28th, 2020} by Allison Bell

    One sign of the fundamental stability of U.S. life insurers: They’re still out there conducting consumer surveys, and publishing the results. Nationwide Financial is back with a report based on a recent survey of 2,042 U.S. adults ages 18 and older. The survey team looked at how the COVID-19 pandemic, and the pandemic-related financial turmoil, […]

    LPL and Raymond James lead in recruiting as M&A deals and new appointments show coronavirus impact

    {April 28th, 2020} by Tobia Salinger

    LPL Financial and Raymond James Financial Services have galloped ahead of their recruiting rivals, but the coronavirus is casting uncertainty on moves across the entire industry. Independent broker-dealers have unveiled around 50 recruiting moves so far in 2020, according to Financial Planning’s analysis of press releases issued by the firms. None of the moves occurred in April, […]

    How Life Insurance Helps Seniors to Battle Financial Crisis

    {April 27th, 2020} by UTC

    Many people today take life insurance for granted until they reach the point where they start to think about retirement or their families’ future. What others don’t realize is that life insurance can be both advantageous to the beneficiaries and the policyholder. Just like everyone else, seniors also fight their own economic battles. Most of […]

    Transamerica Launches Low-Cost Variable Annuity

    {April 24th, 2020} by Danielle Andrus

    On Monday, Transamerica announced the launch of a new variable annuity with average annual fees that are roughly 70% lower than the industry average. “Variable annuities allow consumers to invest on a tax-deferred basis as they work toward the goal of creating a steady stream of income during retirement,” Joe Boan, senior managing director of […]

    John Hancock and Clareto Streamline Life Insurance Purchase Process

    {April 24th, 2020} by John Hancock

    TSX/NYSE/PSE: MFC     SEHK: 945 BOSTON, April 22, 2020 /PRNewswire/ – Today, John Hancock announces a strategic collaboration with Clareto, a leader in digital solutions to acquire and aggregate electronic health data, to further improve the Company’s underwriting speed and efficiency as part of its ongoing commitment to transform the life insurance purchase experience. Clareto’s capabilities include enabling access to more than […]

    Why I Almost Never Recommend Indexed Universal Life Insurance

    {April 23rd, 2020} by David C. Lewis

    A lot of investors, seeking a reprieve from the ups and downs of the stock market, have turned to a life insurance product called “indexed universal life insurance.” This type of life insurance is permanent life insurance, which builds cash values based on the upward movement of a stock market index. Premiums are paid, cost […]

    Can You Lose Money In An Annuity? Know These Two Things To Figure It Out

    {April 23rd, 2020} by Matt Carey

    Yes, annuities provide valuable tax-deferred growth. But for more than any other reason, annuities are valuable because of their guarantees. In an annuity, the insurer makes certain contractual guarantees that are not available in a traditional investment product.  There are two things you need to know if you’re an annuity owner or considering a purchase […]

    Certain US life insurers suspend senior applications

    {April 23rd, 2020} by Lyle Adriano

    A number of US life insurance companies have decided to temporarily suspend applications from certain age groups, or have imposed similarly tough application requirements, in order to maintain their financial viability. Reuters reported that the companies Prudential Financial and Protective Life Insurance have both temporarily stopped receiving applications from individuals aged 80 or older. Meanwhile, Lincoln […]

    The (Annuity) sky isn’t falling

    {April 22nd, 2020} by Sheryl J. Moore

    Part of what I do for my full-time hustle is to track every annuity, its features, rates, and sales. AnnuitySpecs may look like a simple website, but there is A LOT of work that goes into that tool. Almost a dozen people are needed just to keep up with all the product information that goes […]

    Is the coronavirus crisis the right time to talk to clients about annuities?

    {April 22nd, 2020} by Tobias Salinger

    In the middle of a public health and economic crisis, a so-called flight to safety sounds like a great idea. Click HERE to read the full story via Financial Planning   ………………………………………………………………………………………   These conditions make it a good time to discuss whether annuities might fit a client’s goals, says Sheryl J. Moore, CEO of […]

    These companies deserve some recognition!

    {April 22nd, 2020} by Sheryl J. Moore

    When I started this company 15 years ago, one thing that I was committed to was being independent. I feel that it is very important, as a market research firm, to treat companies fairly and never give preferential treatment to any product manufacturer. No company should ever pay more/less than any other. No company should […]

    Iowa Proposes Best-Interest Rule for BDs, Annuity Agents

    {April 22nd, 2020} by Melanie Waddell

    Iowa has proposed a best-interest standard requiring financial professionals to act in the best interest of clients. The plan, released by the Iowa Insurance Division, is based on the model regulation approved by the National Association of Insurance Commissioners earlier this year and requires annuity agents and broker-dealers and their reps to act in the best […]

    The Standard’s Focused Growth Annuity and Index Select Annuity Are Available in California with Exclusive and Expanded Features

    {April 22nd, 2020} by The Standard

    PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company (The Standard) announced the enhancement of the Focused Growth Annuity (FGA) and the Index Select Annuity in California, making a version of these products available in every state in which The Standard offers annuities. Both annuities provide unique savings, investment and crediting options exclusive to California. “Annuities can be a […]

    Why Post-COVID-19 Operations at a Small Life Insurer Look OK: Idea File

    {April 22nd, 2020} by Allison Bell

    State insurance regulators and auditors have made the managers of Investors Heritage Life Insurance Company prepare for many different economic scenarios and catastrophic mortality scenarios that didn’t look much like the new COVID-19 pandemic world. The result: The Frankfort, Kentucky-based company was in a good position to adjust for this scenario. John Frye, the company’s […]

    CANCELED: Global Insurance Symposium

    {April 22nd, 2020} by Best's Calendar

    Global Insurance Symposium Update: {3/20/2020 10:00 a.m. CDT} Due to state and federal guidelines on large gatherings, the 2020 Global Insurance Symposium has been canceled. The symposium will be back next year on April 26-28, 2021. For those attendees who were looking forward to seeing the final presentations of this year’s Global Insurance Accelerator (GIA) […]

    Leonardi announces plans to leave AIG

    {April 22nd, 2020} by Matthew Lerner

    Thomas Leonardi, executive vice president of AIG and vice chair AIG Life Holdings Inc., announced he has decided to leave AIG at the end of May. “I have decided to depart from AIG effective May 31, 2020,” Mr. Leonardi said in a LinkedIn post. “I will be taking some down time and have not considered […]

    Equitable Holdings, Inc. Schedules Announcement of First Quarter 2020 Results

    {April 22nd, 2020} by Equitable Holdings

    NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (NYSE: EQH) announced today that it will release financial results for the first quarter of 2020 after the market closes on Thursday, May 7, 2020. The company will host a conference call webcast on Friday, May 8, 2020 at 8:00 a.m. ET to discuss the results. The conference call webcast, […]

    AIG to Report First Quarter 2020 Results on May 4, 2020 and Host Conference Call on May 5

    {April 22nd, 2020} by American International Group, Inc

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) will report financial results for the first quarter ended March 31, 2020 after the market closes on Monday, May 4, 2020. AIG’s press release and financial supplement will be available in the Investors section of AIG’s website at https://www.aig.com. AIG will also host a conference call on Tuesday, […]

    New York Life and Cigna Launch ‘Brave of Heart Fund’ to Raise More Than $100 Million to Provide Financial and Emotional Support for Families of Frontline Healthcare Workers and Volunteers

    {April 22nd, 2020} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life today announced that it has partnered with Cigna to launch, through their foundations, the Brave of Heart Fund. The Fund will provide financial and emotional support to the families of healthcare workers and volunteers nationwide – including doctors, nurses, technicians, orderlies, cafeteria workers, custodians, and others – who lose their […]

    Lincoln Financial Group Announces Steps to Support Customers Experiencing COVID-19-Related Financial Challenges

    {April 22nd, 2020} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) announced today that it is taking steps to support customers experiencing COVID-19-related financial challenges, including relief for retirement savers, flexibility for policyholders, and support for the community and business. “As our country comes together to address the many issues created by this global pandemic, we want to do our […]

    Brighthouse Financial Announces Conference Call to Discuss First Quarter 2020 Results

    {April 22nd, 2020} by Brighthouse Financial

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) announced today that it plans to hold a conference call and audio webcast to discuss its financial results for the first quarter ended March 31, 2020, at 8:00 a.m. Eastern Time on Tuesday, May 12, 2020. The call will follow the issuance of the Brighthouse Financial […]

    American Financial Group, Inc. Updates Its 2020 Core Net Operating Earnings Guidance Before Earnings or Losses from Marked-to-Market Investments and Announces Details Regarding Its 2020 First Quarter Results Conference Call and Webcast

    {April 22nd, 2020} by American Financial Group

    CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) announced today revised earnings guidance for 2020. As previously indicated, AFG’s original core net operating earnings guidance of $8.75 to $9.25 per share assumed a 10% annualized return on the Company’s $2.2 billion of investments that are marked to market through core operating earnings (“MTM investments”). This return […]

    AM Best Affirms Credit Ratings of The Penn Mutual Life Insurance Company and Its Subsidiaries

    {April 22nd, 2020} 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 ICRs) of “aa-” of The Penn Mutual Life Insurance Company (Penn Mutual Life) (Horsham, PA) and its wholly owned subsidiaries, The Penn Insurance and Annuity Company (Wilmington, DE), Vantis Life Insurance Company (Vantis Life) (Windsor, CT) and Vantis Life […]

    FBL Financial Group Schedules First Quarter 2020 Earnings Release Date, Conference Call and Webcast

    {April 22nd, 2020} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) will announce its first quarter 2020 earnings approximately 15 minutes after the close of the market on Thursday, May 7, 2020. The first quarter earnings release and financial supplement will be posted on the FBL Financial Group website (www.fblfinancial.com) at that time. FBL Financial Group will […]

    21 Northwestern Mutual Advisors Named to the Financial Times 400 Top Financial Advisors List

    {April 22nd, 2020} by Northwestern Mutual

    MILWAUKEE, April 16, 2020 /PRNewswire/ — Northwestern Mutual today announced that 21 financial advisors affiliated with Northwestern Mutual Wealth Management Company have been named to the 2020 edition of the Financial Times‘ 400 Top Financial Advisors list. “We’re incredibly proud of the work done by our financial advisors to help our clients both plan and stay on track with […]

    Transamerica Debuts a New Low-Cost Variable Annuity

    {April 22nd, 2020} by Transamerica

    BALTIMORE, April 20, 2020 /PRNewswire/ — Transamerica announces the availability of the Transamerica Advisory AnnuitySM, an innovative, low-cost, variable annuity offered and issued by Transamerica Life Insurance Company. The Transamerica Advisory Annuity offers investors these benefits: Lower costs – average annual fees are more than 70 percent lower than the most recent industry average shown by Morningstar, […]

    PRESS RELEASE: FINANCIAL INDEPENDENCE GROUP ANNOUNCES STRATEGIC ALLIANCE WITH THRIVENT ADVISOR NETWORK

    {April 22nd, 2020} by FIG Marketing

    Cornelius, NC – April 21, 2020 – Financial Independence Group, LLC (FIG), a leading financial marketing organization, and the Thrivent Advisor Network (TAN), a hybrid RIA community of financial professionals, have announced a strategic partnership to deliver more robust product offerings to clients nationwide. Effective immediately, all TAN firms now have access to FIG’s annuity, life insurance, and […]

    The Missing Ingredient in Most Retirement Plans

    {April 22nd, 2020} by Brad Pistole

    Do you have a favorite recipe that you know so well that you don’t even have to look up the recipe when you start cooking? I have a handful of meals that I love to cook and I’ve prepared them so many times, I never have to look at a recipe. One of my favorite […]

    Some life insurers hit pause on older Americans during coronavirus crisis

    {April 22nd, 2020} by Suzanne Barlyn

    (Reuters) – Some U.S. life insurers are deciding not to gamble on older Americans during the coronavirus crisis by temporarily suspending applications from certain age groups or imposing tougher requirements. Prudential Financial Inc (PRU.N), Lincoln National Corp (LNC.N) and Protective Life Insurance Co are among the insurers that have made changes. Prudential and Protective are […]

    Crunch Time Arrives for Firms Preparing to Comply With Reg BI

    {April 22nd, 2020} by Rich Blake

    In less than three months, broker-dealers and their associated persons will be bound by a sweeping new standard of conduct, setting up one of the most challenging compliance feats ever attempted by securities industry professionals. Between the sheer number of to-dos that have to be checked off and the inexorable march of the clock toward […]

    Transamerica Adds a Variable Annuity: Annuity Product Update

    {April 22nd, 2020} by Allison Bell

    Transamerica has introduced the Transamerica Advisory Annuity contract. The contract has expense ratios that can range from 0.39% to 0.93%, depending on the investment allocations chosen. The contract holder can choose from a menu of investment options, including 18 portfolios managed by Vanguard and eight by Dimension Fund Advisors. For death benefits, the contract holder […]

    Integrity Marketing Acquires The Brokerage Resource

    {April 22nd, 2020} by Allison Bell

    Integrity Marketing Group LLC has acquired a large, prominent insurance marketing organization, The Brokerage Resource. Sam Corey III, the seller, will own a stake in Integrity Marketing, but the companies aren’t disclosing the other deal terms. Integrity Marketing is a Dallas-based insurance distributor that has relationships with about 250,000 independent agents and about 5 million […]

    RIA Support Firm to Promote FIDx Annuity Exchange

    {April 22nd, 2020} by Allison Bell

    An arm of an insurance marketing organization, Financial Independence Group, will be encouraging registered investment advisors to use the FIDx insurance exchange. Fiduciary Exchange LLC — FIDx — announced its alliance with Financial Independence Group arm, RIA Insurance Solutions, Tuesday. Click HERE to read the full story via ThinkAdvisor

    NAIC Did Fine in 2019. But…

    {April 22nd, 2020} by Allison Bell

    The National Association of Insurance Commissioners is reporting an increase in revenue and assets for 2019, as pressing concerns about the COVID-19 pandemic push fond memories of 2019 further into obscurity. The Kansas City, Missouri-based, nonprofit state insurance regulator group is reporting an $18 million change in net assets without donor restrictions for 2019 on […]

    NAIFA Adds COVID-19 Support Program

    {April 22nd, 2020} by Allison Bell

    The National Association of Insurance and Financial Advisors is starting a fund that will help NAIFA members, and the members’ legal dependents, cope with COVID-19-related bills. The fund will use donations to help recipients affected by the pandemic pay medical bills and funeral expenses. Anyone can donate to the fund. NAIFA worked with the Community Foundation […]

    After the Catastrophic 1918 Flu Pandemic, Annuities Did Fine

    {April 22nd, 2020} by Allison Bell

    One possible clue about how the U.S. annuity market could look in 20 years is that life insurers created the modern U.S. annuity market in the decade in the decade after the catastrophic 1918 influenza pandemic. People with an interest in the topic can see how newspapers of the era covered the topic by searching […]

    Are We Witnessing A New Age Of Responsibility?

    {April 22nd, 2020} by Saturday Insurance

    The Coronavirus crisis seems to have delivered an era of fiscal responsibility among younger adults. A new survey conducted by PSB Research for Saturday Insurance shows that 25- to 34-year-olds are more likely than other adults to be tackling their finances and other matters of work and planning during this period. “While there’s been a […]

    MassMutual announces $3 billion of free life insurance for healthcare workers on the COVID-19 frontline

    {April 22nd, 2020} by MassMutual

    MassMutual extends LifeBridge program, offering free life insurance to healthcare workers across Massachusetts and Connecticut to recognize their heroic contributions during pandemic SPRINGFIELD, Mass., and BOSTON, April 15, 2020 – Massachusetts Mutual Life Insurance Company (MassMutual) today announced the launch of MassMutual HealthBridge, which will provide free term life insurance to the brave and resilient frontline healthcare […]

    David Hanzlik: Advisory In A Time Of Crisis

    {April 22nd, 2020} by P.E. Kelly

    The effect of market volatility can be disorienting, to say the least, to the point where you may have to proactively dissuade your clients from altering the plans they have in place. So, it is always good practice, but more so in times of crisis, to revisit and reestablish the goals that you have established […]

    Americans Acutely Concerned About COVID-19 Financial Loss & Recent Government Response

    {April 22nd, 2020} by Kekst CNC

    International opinion survey, conducted by Kekst CNC, shows Americans by far the most concerned about the personal financial impact of COVID-19 — and least reassured by recent government response. Data shows both Democrats and Republicans back government bailouts for businesses New York, NY, April 14, 2020 — More than half of American workers are “very concerned” […]

    West Des Moines’ Athene fined $45 million for unlicensed activity

    {April 22nd, 2020} by Tyler Jett

    The insurer Athene Holding Ltd., which bases its U.S. operations in West Des Moines, has agreed to pay a $45 million fine after one of its subsidiaries was determined to have worked in New York state without a license. Athene Annuity & Life Co. finalized 14 pension risk transfer transactions with fund sponsors based in […]

    If Cash is King, a Life Settlement is His Crown

    {April 21st, 2020} by Allison Bell

    Having sufficient liquidity will be the defining economic issue of 2020. Now more than ever, cash is king. As millions of retired seniors witnessed the value of their retirement portfolios plummet amid the COVID-19 crisis, financial advisors were urging them not to take withdrawals that would lock in losses. This same reasoning was behind a […]

    The IPX Platform Opens Distribution for Annuity Product Providers

    {April 17th, 2020} by FPS Group

    CENTENNIAL, Colo.–(BUSINESS WIRE)–The Investment Provider Xchange (“IPX”), an innovative solutions provider for retirement plan professionals, plan sponsors and participants in the 403(b) and 457(b) space, is making additional annuity products available for distribution. The move directly supports the needs and business objectives of fee-based advisors. At its core, IPX is an enhanced retirement plan recordkeeping application that […]

    American Equity Schedules First Quarter 2020 Earnings Release, Conference Call and Webcast

    {April 17th, 2020} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) announced today that it will release first quarter 2020 earnings after the close of market on Wednesday, May 6, 2020. The first quarter earnings release and financial supplement will be posted on the American Equity website at www.american-equity.com at that time. AEL will hold a […]

    Safe, ‘Boring’ Products Offer Shelter From Financial Storm

    {April 17th, 2020} by Kevin Nuss

    As you approach and then enter retirement, it’s wise to gradually shift much of your savings into vehicles that guarantee your principal while providing a good interest rate. The stock market’s extreme volatility in 2020 shows that relying too heavily on equities exposes mature investors to unneeded risk. They need ways that reduce risk while […]

    The Risks Of Cash Value Life Insurance

    {April 17th, 2020} by Garrett Gunderson

    A large portion of the insurance and investment industry has perpetuated a dangerous narrative, a false belief.   One where if you want a return you must take higher risks.   Click HERE to read the full story via Forbes.       Wink’s Note: “…if you want a return you must take higher risks” is a […]

    Wink’s 2019 Leader in Fixed Annuity Sales

    {April 16th, 2020} by Wink, Inc

              Modern Woodmen of America         Per Wink’s Sales & Market Report, Modern Woodmen of America was the #1 seller of Fixed Annuities in 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market Report Wink’s Sales & Market Report has […]

    Wink’s 2019 Leader in Indexed Annuity Sales

    {April 16th, 2020} by Wink, Inc

              Allianz Life         Per Wink’s Sales & Market Report, Allianz Life of North America was the #1 seller of Indexed Annuities in 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market Report Wink’s Sales & Market Report has served […]

    Wink’s 2019 Leader in Multi-Year Guaranteed Annuity Sales

    {April 16th, 2020} by Wink, Inc

              New York Life         Per Wink’s Sales & Market Report, New York Life Insurance and Annuity Company was the #1 seller of Multi-Year Guaranteed Annuities in 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market Report Wink’s Sales & […]

    Wink’s 2019 Leader in Structured Annuity Sales

    {April 16th, 2020} by Wink, Inc

              Equitable Financial         Per Wink’s Sales & Market Report, AXA Equitable Life Insurance Company was the #1 seller of Structured Annuities in 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market Report Wink’s Sales & Market Report has served […]

    Wink’s 2019 Leader in Variable Annuity Sales

    {April 16th, 2020} by Wink, Inc

              Jackson National Life         Per Wink’s Sales & Market Report, aggregately Jackson National Life Insurance Company and Jackson National Life Insurance Company of New York were the #1 seller of Variable Annuities in 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s […]

    Wink’s 2019 Leader in Indexed Life Insurance Sales

    {April 16th, 2020} by Wink, Inc

              Pacific Life Companies         Per Wink’s Sales & Market Report, aggregately Pacific Life Insurance Company and Pacific Life & Annuity Company were the #1 sellers of Indexed Life Insurance in 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market […]

    Wink’s 2019 Leader in Universal Life Insurance Sales

    {April 16th, 2020} by Wink, Inc

              Prudential Companies         Per Wink’s Sales & Market Report, aggregately Pruco Life Insurance Company and Pruco Life Insurance Company of New Jersey were the #1 sellers of Universal Life Insurance in 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & […]

    Wink’s 2019 Leader in Whole Life Insurance Sales

    {April 16th, 2020} by Wink, Inc

              Massachusetts Mutual Life Companies       Per Wink’s Sales & Market Report, Massachusetts Mutual Life Insurance Company was the #1 seller of Whole Life Insurance in 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market Report Wink’s Sales & Market Report […]

    Wink’s 2019 Trailblazer in Fixed Annuity Sales

    {April 16th, 2020} by Wink, Inc

              Mutual Trust         Per Wink’s Sales & Market Report, Mutual Trust Life Insurance Company increased their Fixed Annuity market share the greatest percentage of any company, from 2018 to 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market Report […]

    Wink’s 2019 Trailblazer in Indexed Annuity Sales

    {April 16th, 2020} by Wink, Inc

              Atlantic Coast Life         Per Wink’s Sales & Market Report, Atlantic Coast Life Insurance Company increased their Indexed Annuity market share the greatest percentage of any company, from 2018 to 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market […]

    Wink’s 2019 Trailblazer in Multi-Year Guaranteed Annuity Sales

    {April 16th, 2020} by Wink, Inc

              Equitable Life & Casualty         Per Wink’s Sales & Market Report, Equitable Life & Casualty Insurance Company increased their Multi-Year Guaranteed Annuity market share the greatest percentage of any company, from 2018 to 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s […]

    Wink’s 2019 Trailblazer in Structured Annuity Sales

    {April 16th, 2020} by Wink, Inc

              Protective Life Companies         Per Wink’s Sales & Market Report, aggregately Protective Life and Annuity Insurance Company and Protective Life Insurance Company increased their Structured Annuity market share the greatest percentage of any company, from 2018 to 2019. Rankings based on participants of Wink’s Sales & Market […]

    Wink’s 2019 Trailblazer in Indexed Life Insurance Sales

    {April 16th, 2020} by Wink, Inc

              Lincoln National Life         Per Wink’s Sales & Market Report, aggregately Lincoln National Life Insurance Company and Lincoln Life & Annuity Company of New York increased their Indexed Life Insurance market share the greatest percentage of any company, from 2018 to 2019. Rankings based on participants of […]

    Wink’s 2019 Trailblazer in Universal Life Insurance Sales

    {April 16th, 2020} by Wink, Inc

              Securian Financial         Per Wink’s Sales & Market Report, aggregately Minnesota Life Insurance Company and Securian Life Insurance Company increased their Universal Life Insurance market share the greatest percentage of any company, from 2018 to 2019. Rankings based on participants of Wink’s Sales & Market Report.   […]

    Wink’s 2019 Trailblazer in Whole Life Insurance Sales

    {April 16th, 2020} by Wink, Inc

              Protective Life Companies         Per Wink’s Sales & Market Report, Protective Life Insurance Company increased their Whole Life Insurance market share the greatest percentage of any company, from 2018 to 2019. Rankings based on participants of Wink’s Sales & Market Report.   About Wink’s Sales & Market […]

    Wink’s 2019 Excellence in Annuity Innovation Award

    {April 16th, 2020} by Wink, Inc

            Allianz Life of North America for Allianz Legacy by Design           About Wink’s Sales & Market Report Wink’s Sales & Market Report has served as the insurance industry’s #1 resource of insurance product sales since 1997. Providing sales by product, company, indexing method, index, distribution, surrender charge […]

    Wink’s 2019 Excellence in Life Insurance Innovation Award

    {April 16th, 2020} by Wink, Inc

              John Hancock  for John Hancock Aspire with Vitality           About Wink’s Sales & Market Report Wink’s Sales & Market Report has served as the insurance industry’s #1 resource of insurance product sales since 1997. Providing sales by product, company, indexing method, index, distribution, surrender charge period, […]

    Wink’s Index Intelligence Report: Invaluable Resource on Hybrid Indices

    {April 15th, 2020} by Wink's RockStars

    Since 2012, hybrid indexes have driven indexed annuity product development, and that trend is gaining momentum with indexed life as well. As a result of product manufacturers’ evolving attitudes about the proprietary nature of these indices over recent years, Wink, Inc. made a decision last year to respond to their requests for intelligence. Wink’s Index […]

    More Legislation Needed To Protect Retirement Savers: IRI

    {April 15th, 2020} by John Hilton

    An industry trade organization launched a lobbying push today for legislation that combines the retirement crisis with the ongoing the COVID-19 economic recession. The proposal would further ease rules to enable retirement savers to retain and restore their nest eggs, said the Insured Retirement Institute. IRI sent its “five-point plan” to President Donald Trump and […]

    Americans Acutely Concerned About COVID-19 Financial Loss & Recent Government Response, According To New Tracking Survey

    {April 15th, 2020} by Kekst CNC

    NEW YORK, April 14, 2020 /PRNewswire/ — More than half of American workers are “very concerned” about their own jobs, and over one third (36%) worry that their companies will collapse due to COVID-19-related financial challenges, according to the findings of the first Kekst CNC COVID-19 international tracking survey. The data shows that Americans are split, however, on […]

    Best’s Commentary: COVID-19 Stimulus Package to Benefit U.S. Insurers

    {April 15th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best expects the recently passed Coronavirus Aid, Relief, and Economic Security (CARES) Act to provide U.S. insurance companies tax relief in the event of operating losses due to the COVID-19 pandemic outbreak. A new Best’s Commentary, “COVID-19 Stimulus Package to Benefit Insurers,” notes that the $2 trillion CARES Act provides a special rule applicable […]

    Reality Check: Most Americans are Unprepared for When and How Retirement Will Happen

    {April 15th, 2020} by Allianz Life

    MINNEAPOLIS–(BUSINESS WIRE)–Perceptions about when retirement will start and what it will look like are much different from the experiences of people already in retirement, according to the new 2020 Retirement Risk Readiness Study from Allianz Life Insurance Company of North America (Allianz Life®). Although many non-retirees believe they will retire on their own terms, either […]

    John Hancock Donation to Help Feed Boston Hospital Workers Fighting COVID-19 From One Boston Day Through Patriots’ Day

    {April 15th, 2020} by John Hancock

    BOSTON, April 14, 2020 /PRNewswire/ – In honor of One Boston Day, April 15th, through Patriots’ Day on April 20th, John Hancock is harnessing the spirit and resiliency of Bostonians by partnering with nonprofit Off Their Plate to provide more than 8,500 nutritious meals to the essential workforce at Boston hospitals that are providing lifesaving care to fight COVID-19. This initiative builds on […]

    FGL Holdings Schedules First Quarter 2020 Earnings Release, Conference Call and Webcast

    {April 15th, 2020} by FGL Holdings

    GEORGE TOWN, Cayman Islands, April 14, 2020 /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 first quarter ended March 31, 2020 after the market closes on Wednesday, May 6, 2020. A live webcast and conference call will be held on Thursday, May 7, 2020 at 10:00 a.m. […]

    IRS Provides Details On The Extension Of The April 15 Filing Date

    {April 15th, 2020} by Deborah Grace

    In a series of FAQ’s issued on March 24, the IRS has provided additional information on the extension of the April 15 tax deadline announced in response to the COVID-19 pandemic. As mentioned in a prior tax blog prepared by Dickinson Wright, the IRS has provided an automatic extension to July 15, 2020 of Federal income tax returns and […]

    Ex-Scammer of ‘Catch Me If You Can’ Fame Warns of Virus-Related Fraud

    {April 15th, 2020} by Jane Wollman Rusoff

    The fraudsters are “coming out of the woodwork.” Indeed, the coronavirus pandemic is “a win-win-win” for them, Frank Abagnale, the famous fraudster-turned-FBI consultant, tells ThinkAdvisor in an interview. His youth as a professional imposter and check forger inspired the film “Catch Me If You Can” starring Leonardo DiCaprio. Abagnale, an authority on fraud, forgery and […]

    The Kids Look Amazing and Other Annuity Prospect Survey Findings

    {April 15th, 2020} by Allison Bell

    U.S. annuity prospects claim to be thinking about their investments roughly the same way now  as they were thinking before the COVID-19 pandemic locked America down — but they are looking at their children differently. The AgeUp team has included data on that shift in a new summary of results from a survey of about 1,400 U.S. […]

    Simplicity Acquires Annuity and Life Distributor

    {April 15th, 2020} by Allison Bell

    Simplicity Group Holdings, an insurance distributor, has acquired another distributor — Fidelity Financial Group. Simplicity is based in Summit, New Jersey, and has acquired companies such as Dressander & Associates Inc. and InsurMark. Fidelity Financial Group is a Houston-based company that wholesales life insurance and indexed annuities. The company was founded in 1988 and now […]

    Fidelity Plans to Hire 2,000 People

    {April 15th, 2020} by Bernice Napach

    Fidelity Investments is hiring, accelerating plans to add 2,000 people in several categories across the U.S., due to growing demand for services from existing clients “We have seen unprecedented engagement from our individual clients as well as 401(k), 403(b), defined benefit and stock plan participants, all of whom are turning to Fidelity to help them […]

    Wade Pfau: Pandemic Tears Up 4% Rule

    {April 15th, 2020} by Jane Wollman Rusoff

    In the good old days (before coronavirus), many people could rely on working longer to wrangle a wayward retirement plan back on track. Not anymore. The devastating loss of jobs set off by the COVID-19 pandemic is depriving many folks who planned to retire this year of that lever, as retirement expert Professor Wade Pfau […]

    Jury still out on whether COVID-19 will boost or damage life insurance market

    {April 15th, 2020} by Insurance Forums Staff

    Hearing some mixed messages about the COVID-19 pandemic’s impact on life insurance? You’re not alone. The media will tell stories of life insurers saying how the COVID-19 pandemic has caused a huge surge in interest, but then you might hear reports about how the pandemic could be the industry’s downfall. The latest report from the MIB […]

    Integrity Marketing Group Expands to Serve More Americans by Acquiring The Brokerage Resource

    {April 15th, 2020} by Integrity Marketing Group, LLC

    DALLAS, April 14, 2020 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced it has acquired The Brokerage Resource, an insurance marketing organization headquartered in North Carolina. As part of the acquisition, Sam Corey, III, will become an owner in Integrity. Financial terms of the transaction were not disclosed. […]

    How Advisors Can Unlock Competitive Advantages While Stuck at Home

    {April 15th, 2020} by Jeff Berman

    As advisors navigate through the coronavirus crisis and the resulting market volatility, they are grappling with unprecedented changes, but some of the changes — at least those on the technology front — can actually be used to their advantage, according to executives at six fintech firms. For one thing, “video cannot be overstated” because it […]

    Is Buying An Annuity In A Zero Interest Rate Environment A Good Idea?

    {April 15th, 2020} by Wade Pfau

    The Federal Reserve’s decision to cut its benchmark federal funds rate from 1% to a range of 0% raises significant questions for those reassessing their retirement nest egg—a common occurrence following a dramatic selloff in equities according to research conducted by Indiana University’s Alessandro Previtero —and the value of annuities in providing guaranteed lifetime income. […]

    Stormy Weather for Life Insurers

    {April 15th, 2020} by Kerry Pechter

    Life insurers are buffeted by a perfect storm of falling interest rates, falling share prices and falling sales of annuities. But, according to David Paul of ALIRT Insurance Research, the companies are holding up fairly well. Despite the impacts of lower equity prices, the Fed’s zero interest rate policy, business disruptions and a hefty amount of triple-B bonds […]

    Life Premium Financing Arrangements: The State and Federal Rules

    {April 15th, 2020} by Scott Rose

    Life insurance premium financing can help savvy investors leverage their portfolio for sizable returns. Some choose to finance in order to take advantage of higher-yielding investments. Others use that strategy to address a lack of cash flow or liquidity. Navigating the rules and regulations that govern life insurance can be complex, even for the most […]

    Are You Feeling SECURE about Retirement?

    {April 15th, 2020} by Anthony Pellegrino

    Like most legislation these days, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 has some good changes and some not-so-good changes in store for Americans who are near or in retirement. And it will be up to them to decide if the new law — which went into effect in January […]

    RIAs stick with summer interns, but from a safe distance

    {April 15th, 2020} by Jeff Benjamin

    As financial planners adjust to the new normal of remote work and virtual meetings, their summer internship programs in many cases are coming along for the ride. Click HERE to read the full story via InvestmentNews

    Moody’s downgrades U.S. life insurance outlook to ‘negative’

    {April 15th, 2020} by Insurance Forums Staff

    The outlook for the U.S. life insurance sector has been changed from stable to negative, owing to the unprecedented economic turmoil from the coronavirus pandemic amid the decline in U.S. Treasury rates and a higher likelihood of a prolonged low rate environment, Moody’s Investors Service says in a new report released April 1. U.S. life […]

    Quarter of Millennials Bought Stocks Amid Recent Volatility: Bankrate

    {April 15th, 2020} by Jeff Berman

    Millennials boosted their stock investments more than other generations amid the extreme market volatility seen last month, according to an online survey conducted for Bankrate by YouGov March 20-24. However, the survey also found that millennials were also the most likely to sell stocks, Bankrate said Tuesday, noting that 1,175 adults 18 and over who […]

    Treasury to Provide Automatic Stimulus Cash to Social Security Recipients

    {April 15th, 2020} by Melanie Waddell

    The Treasury Department and Internal Revenue Service reversed their stance late Wednesday that Social Security beneficiaries would need to file tax returns in order to receive direct cash assistance payments under the Coronavirus Aid, Relief and Economic Security (CARES) Act. Treasury will now provide automatic coronavirus relief payments for Social Security beneficiaries. “Social Security recipients […]

    IRS Extends 60-Day IRA Rollovers to July 15

    {April 15th, 2020} by Melanie Waddell

    As part of a larger relief package, the Internal Revenue Service extended late Thursday the 60-day rollover rule for individual retirement accounts until July 15, but only for distributions taken between Feb. 1 and May 15 of this year, IRA expert Ed Slott told ThinkAdvisor. Unknown to most, the IRS in Notice 2020-23 — which extended several tax deadlines — […]

    Prudential Agrees to Sell Unit in Korea to Bank for $1.9 Billion

    {April 15th, 2020} by Allison Bell

    Prudential Financial Inc. has agreed to a deal that could free $1.9 billion in cash. The Newark, New Jersey-based company has agreed to sell a unit in Korea, The Prudential Life Insurance Company of Korea Ltd., to KB Financial Group Inc. for about that price. Prudential started its unit in Korea in 1989. The unit […]

    When Friends or Clients Die During the Pandemic

    {April 15th, 2020} by Bryce Sanders

    When people we know die, we react in certain ways. COVID-19 and the pandemic has sharply altered what we can do, but we shouldn’t let this stop us from making an effort. From a personal and business standpoint, you want to be there for your clients in their time of need. This isn’t specifically about […]

    IRS Rejects 2 Death Benefits Groups’ Requests for Tax-Exempt Status

    {April 15th, 2020} by Allison Bell

    The Internal Revenue Services (IRS) has refused to classify two member-owned organizations that provide death benefits for the members as tax-exempt organizations. Stephen Martin, director for exempt organizations in the IRS Rulings and Agreements office, has delivered the news to the organizations in letter rulings that were issued in January and posted on the web today. […]

    COVID-19 Pain Also Touches Higher-Income Consumers: Surveys

    {April 15th, 2020} by Allison Bell

    The turmoil caused by COVID-19, and by efforts to fight COVID-19, may be hitting the kinds of moderately high-income consumers who buy life insurance and annuities about as hard as lower-income consumers. Ashley Kirzinger and other analysts at the Henry J. Kaiser Family Foundation have published evidence of that possibility in a summary of results […]

    Horace Mann Responds Further to COVID-19 Pandemic with Teacher Appreciation Relief Program to Support Policyholders and Local Communities

    {April 15th, 2020} by Horace Mann Educators Corp

    SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corp (NYSE: HMN) today announced a comprehensive Teacher Appreciation Relief Program. The company will credit customers with 15% of two months of auto premiums, subject to regulatory approval, because driving has declined as a result of the COVID-19 pandemic. This comes in addition to other financial relief the company is providing […]

    Life Application Activity Falls: MIB

    {April 15th, 2020} by Allison Bell

    U.S. life insurance application increased a little for young consumers in March but fell for older consumers, according to MIB Group Inc. The Braintree, Massachusetts-based group says overall application activity was 2.2% lower last month than in March 2018. Here are the MIB activity numbers for each age group for March: Ages 0-44: +0.3% Ages 45-59: -4.2% […]

    Treasury Releases Small-Business Loan Guidance for Independent Contractors

    {April 15th, 2020} by Melanie Waddell

    The Treasury Department on Tuesday released guidance on how lenders can process independent contractors and gig economy workers for Paycheck Protection Program (PPP) — providing a much-needed path to loans for these groups. Sen. Marco Rubio, R-Fla., tweeted that the just-released 19-page guidance “answers virtually ALL of the big remaining questions we had from lenders.” As of […]

    2020 Life, Health and Annuity Planner

    {April 15th, 2020} by Allison Bell

      Per ThinkAdvisor, upcoming conference cancellations:  April 20-22: LIMRA, ACLI, Life Insurance Conference, in Salt Lake City. (CANCELED DUE TO COVID-19) April 21-23: Global Insurance Symposium, insurance technology conference, in Des Moines, Iowa. (CANCELED DUE TO COVID-19) April 22-24: LIMRA LOMA Secure Retirement Institute, SOA, Retirement Industry Conference, in Salt Lake City. (CANCELED DUE TO COVID-19) April 26-28: AALU, Transform (annual meeting), in Washington. (POSTPONED DUE TO […]

    The IPX Platform Opens Distribution for Annuity Product Providers

    {April 15th, 2020} by IPX

    CENTENNIAL, Colo.–(BUSINESS WIRE)–The Investment Provider Xchange (“IPX”), an innovative solutions provider for retirement plan professionals, plan sponsors and participants in the 403(b) and 457(b) space, is making additional annuity products available for distribution. The move directly supports the needs and business objectives of fee-based advisors. At its core, IPX is an enhanced retirement plan recordkeeping application that […]

    RIA Channel Growth Soaring as More Advisors Break Away

    {April 15th, 2020} by Jeff Berman

    RIA channel growth continues to increase, driven by an increased number of advisors breaking away to either open up their own RIA firms or become part of an established one, according to the latest Cerulli Edge report, on U.S. asset and wealth management. That increased flow into the RIA channel is only expected to grow, […]

    Want to Work in Retirement? Life May Have Other Plans

    {April 15th, 2020} by Michael S. Fischer

    Nearly half of Americans in a new study believe they will be able to retire on their own terms because either they will be financially ready to do so or simply want to enjoy themselves while they can. They should think again. In a survey, half of retirees said they had left work earlier than […]

    New York Fines Insurers Over Deferred Annuity-to-Immediate Annuity Exchanges

    {April 15th, 2020} by Allison Bell

    The New York Department of Financial Services has sent life insurers another reminder: Moving cash from a deferred annuity to an immediate annuity is an annuity replacement transaction, and insurers have to make to make sure the consumers involved get income comparisons and suitability information. The New York department has imposed about $2 million in […]

    Farmers Insurance® Names Chris Flint as President of Farmers New World Life Insurance Company®

    {April 15th, 2020} by Farmers Insurance

    WOODLAND HILLS, Calif., April 14, 2020 /PRNewswire/ — Farmers Insurance®, one of the nation’s largest insurer groups, today announced Chris Flint has joined the organization as President of Farmers New World Life Insurance Company, effective April 20, 2020. Flint will report directly to Steve McAnena, President of Distribution, Life and Financial Services, and will lead strategic plans for Farmers New World […]

    What You Need to Know About Older Adults’ Mindset

    {April 15th, 2020} by Jeannette McClennan

    In the world as we’ve known it, growing older has meant entering into a period of reflection. The horizon shortens, the experiences of loss multiply, and salient questions rise to the surface: How are you going to live your life in a way that matters? What will be different about the world because you were […]

    Financial Independence Group / RIA Insurance Solutions Announces Partnership with Fiduciary Exchange (FIDx) to Integrate Insurance Planning & Transactions into Wealth Management Processes

    {April 15th, 2020} by Fiduciary Exchange, LLC (FIDx)

    BERWYN, Pa., April 14, 2020 /PRNewswire/ — FIDx, the first product-agnostic platform to integrate the benefits of insurance seamlessly alongside investment products, today announced a strategic partnership with Financial Independence Group, one of the nation’s leading insurance research and distribution firms, and its RIA Insurance Solutions affiliate. The partnership will help bridge the insurance transaction gap between insurance […]

    Retirement Plans, Annuity Pricing, and Insurer Solvency

    {April 15th, 2020} by Michael Clark and James Walton

    Advisors working with pension plan sponsors embarking on an annuity purchase should understand there are additional uncertainty and risks due to the impact of COVID-19. Awareness of market conditions and a robust insurer due diligence process can give clients a better outcome. Over the last decade, de-risking a pension plan with an annuity buyout has […]

    IRI Unveils Ideas for Curing COVID-19 Nest Egg Blight

    {April 15th, 2020} by Allison Bell

    Annuity issuers and other life insurers are normally the people trying to remind everyone else in Washington that putting money away for the future matters, and that having a little cash for food and medicine at age 85 may be a lot more valuable than having a bigger house or a nicer vacation today. Severe […]

    Plaintiffs Say Transamerica Settles Lawsuit Over Universal Life Policy Charges

    {April 15th, 2020} by Contributing editor

    Transamerica Life Insurance Co. has agreed to settle a class-action lawsuit filed in Los Angeles, alleging that the company improperly increased the monthly charges of holders of universal life policies, the plaintiffs’ attorneys announced Tuesday. Under the proposed settlement, filed in U.S. District Court, Transamerica has agreed to pay up to $88 million in account […]

    Life Insurance and the Coronavirus: Your Questions, Answered

    {April 15th, 2020} by Kayda Norman

    Life insurance is one way to provide financial stability for your loved ones after you die. Understanding your policy and how COVID-19 affects your coverage is important for both you and your family. To that end, NerdWallet has put together a guide on what you should know about life insurance and the current global pandemic. […]

    Leveraging Life Insurance For Those With An Advanced-Stage Illness

    {April 15th, 2020} by Adam Balinsky

    When an individual is diagnosed with an advanced-stage illness, there is a great deal of planning that follows – from weighing various treatment options and informing loved ones to preparing financially for the future. For some, financial preparations may seem as simple as double-checking their life insurance policy. As well-informed life insurance professionals and financial […]

    Prudential suspends applications for some life insurance policies

    {April 15th, 2020} by Brittany De Lea

    Americans seeking life insurance coverage have one less option to choose from, as one of the industry’s major players announces coronavirus-related changes. Prudential said it would suspend its acceptance of applications for 30-year term life insurance policies due to “unprecedented market volatility” and “the anticipated low interest rate environment for the foreseeable future.” The suspension will be in place until […]

    How To Buy Life Insurance During The COVID-19 Pandemic

    {April 15th, 2020} by Amy Danise

    If you’re shopping for life insurance, you might encounter some new processes and temporary roadblocks due to COVID-19. If you’re new to buying life insurance, you may not realize that those who shopped a few months ago may have had a different experience.  “The coronavirus pandemic, coupled with social distancing, has made common elements of […]

    Annuities take center stage

    {April 15th, 2020} by Emile Hallez

    The COVID-19 pandemic has given people many reasons to be nervous, not least of which being how it has hurt their investments and their ability to retire.   Click HERE to read the full story via InvestmentNews     ……………………………………………………………………………………….     “There’s a flight to safety,” said Sheryl Moore, CEO of Moore Market Intelligence. “If this is anything like things […]

    Nearly 4 in 10 Americans Who Sold Their Life Insurance Policies Were Planning to Surrender the Policies Before Learning About Life Settlement Option, According to Welcome Funds Survey

    {April 15th, 2020} by Welcome Funds

    BOCA RATON, Fla.–(BUSINESS WIRE)–More than 38 percent of individuals who sold their life insurance policies in life settlement transactions last year said they were planning to lapse, cancel or surrender their policies until they learned of the life settlement alternative, according to a newly released survey from Welcome Funds, one of the nation’s leading life settlement […]

    Upstream Life Offers Most Competitive MYG Annuity Rates in the Country

    {April 14th, 2020} by Upstream Life

    Wink, Inc. Shows Upstream Life Crediting the Highest Rates Upstream Life Offers Most Competitive MYG Annuity Rates in the Country DALLAS, April 10, 2020 /PRNewswire/ — Upstream Life Insurance Company, established in 1912, is offering the most competitive Multi-Year Guaranteed Annuity (MYGA) rates in the nation, according to market research firm Wink, Inc.’s AnnuitySpecs Tool. The company […]

    Athene pays $45 million fine in first settlement of New York pension transfer probe

    {April 14th, 2020} by Jonathan Stempel

    NEW YORK (Reuters) – Athene Holding Ltd agreed on Monday to pay a $45 million civil fine to settle charges it conducted insurance business in New York without a license, the first settlement in a probe into an industry where life insurers take over corporate pension plans. Linda Lacewell, superintendent of New York’s Department of […]

    Insurers To Pay NY More Than $2M To Settle Annuity Sales Errors

    {April 14th, 2020} by John Hilton

    Three insurers agreed to pay more than $2 million in restitution and penalties to New York for annuity replacement transactions that violate the state’s new best-interest standard. State Department of Financial Services Superintendent Linda A. Lacewell announced the three consent orders with Lincoln Life & Annuity Company of New York, MassMutual Life Insurance Company, and […]

    Don’t Let Your Clients Live Retirement In Recovery Mode

    {April 14th, 2020} by Kiplinger

    So, you thought you had it all figured out. You were convinced you could keep all or most of your savings invested in the stock market, maximize your earnings and then, somehow, choose just the right moment to move your money to something safer. How’s that working out for you, given the uncertainty we’re experiencing […]

    Who Will You Become During This Pause?

    {April 14th, 2020} by Susan Rupe

    The COVID-19 crisis has given many of us an unexpected blessing in the form of a pause, a business coach told financial professionals Monday. Dave Resseguie, founder of The Resseguie Group, said that while much of the U.S. is shut down in response to COVID-19, it’s the perfect time to ask yourself who you need […]

    MetLife Provides Resources and Tools to Help Small Business Owners and Their Employees Navigate the Pandemic

    {April 14th, 2020} by MetLife

    NEW YORK–(BUSINESS WIRE)–Eighty-four percent of small business owners say they are concerned about the impact of the coronavirus outbreak on their business, and a majority (58%) are very concerned, according to a recent poll from MetLife and the U.S. Chamber of Commerce. This poll provides the first view of the small business landscape from their own perspective. […]

    Farmers Insurance® Donates $525,000 and Protective Masks to Help Support Los Angeles Firefighters

    {April 14th, 2020} by Farmers Insurance

    WOODLAND HILLS, Calif., April 13, 2020 /PRNewswire/ — Dark smoke fills the sky. Sirens sound. While families pack their belongings and begin to evacuate, Los Angeles firefighters know they won’t be joining those racing away from the flames; they’re ready to run toward danger while others flee. After years of going to battle with devastating wildfires, the courageous members […]

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