Variable Annuity Sales Rose: AIG
{May 6th, 2020} by Allison Bell
American International Group Inc. says its life and retirement unit had problems with stock market turmoil and widening credit spreads in the first quarter, but the sales of individual variable annuities were strong. The New York-based multi-line insurance giant gave its view of the COVID-19 situation when it released its latest earnings. Brian Duperreault, AIG’s chief […]
New York State Department of Financial Services Hires a Chief Counsel: Personnel Matters
{May 6th, 2020} by Allison Bell
The New York State Department of Financial Services has hired Richard Weber to be its general counsel. Weber previously was head of financial crime prevention for the Americas at UBS. He also has been head of anti-financial crime for the Americas at Deutsche Bank. Before Weber joined Deutsche Bank, he spent five years as chief of […]
Drew Bowden to Lead Insured Retirement Institute Board
{May 6th, 2020} by Allison Bell
Drew Bowden is taking over from Kevin Kennedy as the chair of the Insured Retirement Institute board. IRI is a Washington-based trade group for companies in the retirement income industry. Bowden, who previously was IRI’s vice chair, is the general counsel at Jackson National Life Insurance Company. Bowden has a bachelor’s degree from Loyola College n Maryland […]
Primerica Wrestles With Agent Licensing Exam Delays
{May 6th, 2020} by Allison Bell
Primerica Inc. did well in the first quarter, and one of the most serious obstacles it faces now is delays in getting new life insurance agent recruits licensed. Glenn Williams, the chief executive officer of the Duluth, Georgia-based life insurer, talked about the licensing delays Thursday, in a conference call the company held with securities […]
Active vs. Passive Investing in a COVID-19 World
{May 6th, 2020} by Bobbie Turner
In the most recent bull market, passive investments outperformed actively managed funds, leading many to question whether the added costs of active management are worth it. Inflows into passive investments led to a milestone event in September 2019 in which the assets of U.S. index-based equity mutual funds and ETFs surpassed actively managed funds for […]
How Quarantine Is Affecting Different Generations: Ken Dychtwald
{May 6th, 2020} by Ginger Szala
Ken Dychtwald sees the coronavirus quarantine affecting generations differently. As a septuagenarian, he prefers to think of it as “cocooning” — that is, people should take this time to slow down and reemerge “as a better version of themselves.” Dychtwald, the psychologist, gerontologist and founder and CEO of Age Wave, who has written 17 books on aging, spoke […]
Coronavirus lockdown: Raymond James won’t rush advisors back to the office
{May 6th, 2020} by Andrew Welch
Even as some states lift lockdown restrictions enacted to stem the tide of coronavirus contamination, the 8,000-plus advisors at Raymond James should not expect a swift return to their branches. “We will be slow and deliberate about bringing associates back to the office,” CEO Paul Reilly said during an earnings call April 30. Reilly’s cautious […]
The Hartford Announces First Quarter 2020 Financial Results and Impact of COVID-19
{May 6th, 2020} by The Hartford
HARTFORD, Conn.–(BUSINESS WIRE)–The Hartford (NYSE: HIG) today announced financial results for the first quarter ended March 31, 2020. “The COVID-19 pandemic has forced unprecedented change in all aspects of society and the global economy. My thoughts and prayers are with those suffering the effects of the virus. I extend my deepest gratitude to the health […]
6 things you need to know about life insurance and coronavirus
{May 5th, 2020} by Shane Murphy
As the coronavirus numbers continue to grow in the U.S., life insurance companies report that applications have been skyrocketing. With illnesses and deaths rising from COVID-19 — the disease caused by the virus — some life insurance customers have been wondering whether it’s too late to get coverage, or if existing policies cover the outbreak. Read on […]
Whole Life Insurance: It’s a Swiss Army Knife for Financial Planning
{May 2nd, 2020} by Michael Aloi
The stock market may be jittery right now, but my whole life cash value continues to chug along. In my 20 years of providing financial advice, I have found whole life insurance to be one of the most important, yet overlooked financial planning tools on the market. There are many benefits to owning some whole […]
The Devil In The Details Of Annuities
{May 2nd, 2020} by David Kudla
Chances are that if you are approaching retirement, you have been contacted to purchase an annuity as an investment vehicle. It has been most likely marketed as a way to get “guaranteed income” or “market-like returns with only a fraction of the risk”. Click HERE to read the full story via Forbes Wink’s Note: […]
Principal Financial Takes Slight Hit From COVID-19
{May 2nd, 2020} by John Hilton
Principal Financial Group’s overall income dropped year-over-year with the COVID-19 crisis depressing some sectors and lifting others, particularly a spike in term life sales, according to the company’s first-quarter report and earnings call. Like other diversified life and annuity companies, Principal went into the year with stronger performance in variable annuity assets and […]
Announcing the Launch of the AARP Annuity Marketplace powered by Blueprint Income
{May 2nd, 2020} by Blueprint Income
NEW YORK, May 1, 2020 /PRNewswire/ — Blueprint Income has launched the AARP® Annuity Marketplace powered by Blueprint Income at https://www.blueprintincome.com/aarp. It is the exclusive marketplace for AARP members to compare and purchase simple annuities from a select group of seven highly-rated1 insurance companies. Over the last 40 years, Americans’ options for retirement have changed. Many employers have switched from […]
Fiduciary rule rewrite still expected despite departure of DOL official
{May 1st, 2020} by Mark Schoeff Jr.
A revised Department of Labor rule that would that would raise investment advice standards for retirement accounts appears to be on its way despite the imminent departure of the official directly connected to the effort. Click HERE to read the full story via InvestmentNews
Women and retirement preparedness
{May 1st, 2020} by Mary Beth Franklin
Women face dual challenges in terms of their retirement security: longevity and wealth inequality. Click HERE to read the full story via InvestmentNews
Cash Value Life Insurance Provides A Safe Harbor In Today’s Economic Storm
{May 1st, 2020} by Marc Schechter
In light of recent market challenges that have impacted the diversified investment portfolios we manage for our clients, many have asked how the cash values in their investment-oriented life insurance policies are weathering the storm. Whole life, universal life and indexed universal life have traditionally maintained their values through tough economic times because they are […]
