Top 5 Life Insurance Stories Of 2020: COVID-19 Dominates
{January 6th, 2021} by John Hilton
Life insurance is generally sold, not bought, those sales traditionally take place around the dinner table or in the agent’s office. That traditional scene was next to impossible this year as COVID-19 swept across the country and led to business restrictions and stay-home advisories. On the other hand, it reminded Americans of the value of […]
Symetra Yanks Guaranteed Universal Life Products as Low Rates Persist
{January 6th, 2021} by Cyril Tuohy
“For products that have strong guaranteed minimum cash values and death benefits, this can be a tremendous financial strain,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, in an email. Click HERE to read the full story via Life Annuity Specialist
Vermont Insurer Eyes Pacific Life in Race to Be Top Indexed Life Seller
{January 6th, 2021} by Cyril Tuohy
“It is conceivable that National Life could take Pacific Life’s top spot in indexed life for 2020,” said Sheryl Moore, CEO of Wink. She said much will depend on the results from this quarter, which typically is the largest of the year for the product segment. Click HERE to read the full story via Life Annuity […]
USAA Unveils Three-Year Fixed Annuity As Its Sales Surge
{January 6th, 2021} by Warren S. Hersch
[Multi-Year Guaranteed Annuity] Sales in the third quarter totaled $16.6 billion, a 70% rise from the same period in 2019, according to market research firm Wink. Products carrying three-year guarantees, such as USAA’s, are among the most popular products in the segment: About half of the top-selling multi-year annuities by channel fall into the category, […]
SILAC Insurance Company awarded Top Workplaces 2020
{January 6th, 2021} by Jamie Johnson
SILAC Insurance Company has been awarded a Top Workplaces 2020 honor by The Salt Lake Tribune. The list is based solely on employee feedback gathered through a third-party survey, administered by employee engagement technology partner Energage, LLC.
How To Construct A Simple Annuity For Retirement
{January 6th, 2021} by Yield Hunting Alternative Income Investments
(This report was issued to members of Yield Hunting on December 14th. All data herein is from that date.) I am always amazed how many retirees become quasi-professional investors upon retirement. Is that enjoyable? Is it worry-free? Click HERE to read the full story via Seeking Alpha Wink’s Note: The top fear of Americans […]
Best’s Review Examines the Insurtech Evolution
{January 6th, 2021} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–The January issue of Best’s Review takes an in-depth look at how the insurtech sector is evolving. “Turning the Corner” examines the deal environment and how it’s now the insurtechs that are interested in making acquisitions. In “A Healthy Dose of Reality,” Best’s Review speaks with Adrian Gore, the founder and chief executive officer of Discovery Limited, about the […]
Genworth to Shift to China Oceanwide Deal Backup Plan
{January 6th, 2021} by Allison Bell
Genworth Financial Inc. and China Oceanwide Holdings Group Co. Ltd. today said they will shift to using a merger agreement without an end date. Genworth said it will begin executing a plan that serves as an alternative to the company being acquired by China Oceanwide. China Oceanwide has been trying to acquire Genworth since October 2016, in a […]
Do 70/30 Portfolios Make Sense for Retirees?
{January 6th, 2021} by Ginger Szala
As clients age, the decumulation of retirement savings takes center stage. This process begs the question: How can advisors adjust current portfolios, even slightly, to best help older clients? Christine Benz, Morningstar’s director of personal finance recently reviewed the portfolio of a married couple in their 70s, who mainly live off his Social Security and […]
What’s Hurting the Financial Security of Older Americans?
{January 6th, 2021} by Ginger Szala
Adults age 70 and older have increased their debt since the Great Recession — largely due to mortgage payments — and this hampers their ability to overcome “negative events” as they age, according to a recent study by the Center for Retirement Research of Boston College. Researchers Barbara A. Butrica and Stipica Mudrazija looked at […]
What 2020 Shows Us About Selling Life Insurance in 2021
{January 6th, 2021} by Jeff Piotrowski
It’s not provocative to say that 2020 has been a strange year, and that extends to every line of business in insurance. As witness to over 1 billion online comparison shopping events for major-life purchases — of products like insurance and consumer finance products — every quarter, Jornaya acts as a proverbial front-row seat for […]
Roth IRA Conversions: What Advisors Need to Know
{January 6th, 2021} by Roger Wohlner
Much has been written about the benefits of converting retirement assets in a traditional IRA to a Roth IRA. During 2020, Roth conversions received a lot of favorable press with tax rates being low and the stock market being depressed for part of 2020. This is a retirement savings strategy that might be beneficial for […]
Momentum picks up for state-level best interest rule on annuity sales
{January 6th, 2021} by Mark Schoeff Jr.
The new year is beginning with momentum for a state-level regulation designed to strengthen consumer protections surrounding annuity sales. Click HERE to read the full story via InvestmentNews
Insurers Embrace New Opportunities for Annuity Innovation
{January 6th, 2021} by Contributor
[Structured] annuities (a.k.a. RILAs) are poised to exhibit robust growth as additional large, reputable insurers enter the space with innovative concepts. [Structured annuities] have garnered steady growth in recent years to reach a quarterly record of nearly $5 billion in 4Q 2019, according to Cerulli’s latest report, U.S. Annuity Markets 2020: A Decade of Adaptation. […]
Finra licensing policy puts women at a disadvantage amid COVID
{January 6th, 2021} by Caroline Hayes
In the highly regulated financial services industry, there may be sound reasons for Finra’s two-year expiration on securities licensing. Click HERE to read the full story via InvestmentNews
Prudential beats shareholder suit over life insurance reserves
{January 6th, 2021} by Jody Godoy
A New Jersey federal judge has dismissed a shareholder lawsuit against Prudential Financial Inc over its alleged failure to boost the reserves it held for future life insurance policy claims, saying the investors had failed to allege a false statement. Click HERE to read the full story via Reuters
Investing: Playing A Winning Hand
{January 6th, 2021} by Stephen Kelley
I have been noticing some things lately that I find both troubling and consistent with things I have known and been speaking and writing about for some time. That’s the struggle the industry has when it comes to promoting and discussing the very important issues facing today’s and tomorrow’s retirees. Click HERE to read the […]
