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Archive for February 2021


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  • Goldman Sachs 10,000 Small Businesses program!

    {February 24th, 2021} by Wink's Intel Pros

    Congratulations to our CEO, Sheryl Moore on being selected to participate in Goldman Sachs 10,000 Small Businesses program! Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing access to education, capital and business support services. Sheryl, we are proud of the passion and innovation that you bring to […]

    Why all the Buzz Around Structured Annuities, Now?

    {February 24th, 2021} by CUNA Mutual

    Sheryl Moore will be droppin’ some annuity knowledge on the 17th of March. WARNING: Those not in attendance will miss the chance to see the mic drop. Everyone has been warned…our listeners will not only have a better understanding of what’s going on in the annuity market, but why NOW is the best time to […]

    Official Wink holiday on 2/25

    {February 24th, 2021} by Wink's RockStars

    It’s Sheryl’s birthday on Thursday! Will you help us make the day extra special? Be sure to drop her some wishes via LinkedIn, Twitter, Facebook, good ole’ snail mail or shoot over a note!  

    American Equity Rolls out Accumulation Product Enhancements

    {February 24th, 2021} by American Equity Investment Life Insurance Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Feb. 22, 2021– American Equity Investment Life Insurance Company®, a leading underwriter of fixed index annuities, announced a series of enhancements to its flagship accumulation product, the AssetShield fixed index annuity. This 5, 7, and 10-year annuity product line now offers new equity and multi-asset index options, as well as the choice […]

    Have Your Cake And Eat It Too: An Investor’s Dream

    {February 24th, 2021} by Micah Hesting

    When I was asked to write an article regarding life and/or annuity strategies, I wanted to write an article that had value and was intriguing to both annuity and life producers. So, without further ado, we have the “Annuity Max with a Twist” strategy. For those of you working solely in the annuity space, you […]

    Effective Last Month! Congress’ Gift To Life Insurance

    {February 24th, 2021} by Charlie Gipple

    If you get shivers down your spine in excitement like I do when you think of things like CVAT, GPT, Modified Endowment Contracts, and Section 7702, then I hope you are sitting down. If you are an insurance agent that sells (or wants to sell) accumulation focused policies like IUL and whole life (short pay […]

    Leveraging The Latest Trends In Life Insurance

    {February 24th, 2021} by John Thornton

    The past year will be remembered for many things, not the least of which is the global pandemic that disrupted life as we knew it. As it persists, but with the vaccines now being distributed, there is reason for optimism. For the life insurance industry, the latest data suggests better days ahead. Click HERE to […]

    DOL Advice Rule Compliance Will Be ‘Heavy Lift’

    {February 24th, 2021} by John Hilton

    Advisors and agents do not have to worry about the Department of Labor investment advice rule for now, but should be focused on being in compliance by the end of 2021. And there is a lot of work to be done, said Fred Reish, a partner with the law firm Faegre Drinker Biddle & Reath. […]

    NAIFA Looks At Boosting Diversity, Growing Next Gen Of Advisors

    {February 24th, 2021} by Susan Rupe

    A 130-year-old industry association is looking ahead to the next five years by looking at ways to increase its diversity, foster the growth of the next generation of advisors and raising awareness of financial services as an appealing career among students. This week, the National Association of Insurance and Financial Advisors’ board of directors approved […]

    How Do DOL Rules Impact Insurance Producers?

    {February 24th, 2021} by H.L. Vogel

    To the surprise of many, the Department of Labor allowed the previous administration’s final fiduciary advice regulation, officially titled Prohibited Transaction Exemption 2020-02, to go into effect on Feb. 16. The focus of PTE 2020-02 is on broker-dealers and registered investment advisors, but how does this turn of events impact insurance producers? Does PTE 2020-02 Matter For […]

    FINRA’s Focus on Variable Annuity Switches Continues

    {February 24th, 2021} by Bruce L. Ashton, Sandra Dawn Grannum, James G. Lundy, David W. Porteous, Fred Reish Edward, J. Scarillo Jr.

    On January 8, 2021, without admitting or denying the findings, VALIC Financial Advisors, Inc., (VALIC) entered into a settlement with FINRA Enforcement, through an Acceptance, Waiver and Consent (AWC) where the factual allegation was that between January 1, 2017, and October 31, 2018, the broker-dealer failed to “establish a reasonably designed system and written supervisory […]

    Last Chance! Prepare for sales takeoff at NAILBA 39: Engage!

    {February 24th, 2021} by Wink's Intel Pros

    Sign in to Chat with us at NAILBA 39:Engage ✈️! Interested in our products? Land at our virtual booth to sign-up for a demo and receive a SUPER FASHIONABLE “I ❤️ Annuities/Life Insurance” t-shirt.

    John Hancock Has a Not-So-Secret Weapon for Tracking COVID-19

    {February 24th, 2021} by Allison Bell

    John Hancock has a high-tech health incentive program that helps it encourage life insurance policyholders to take good care of themselves. Today, the health information the program collects could, in theory, give John Hancock a kind of data window it could use to watch the COVID-19 pandemic sweep across the world. John Hancock and Vitality USA, […]

    Athene Wants to Sell More Annuities: Earnings

    {February 24th, 2021} by Allison Bell

    Executives at Athene Holding Ltd. say that they are happy that the company sold many annuities in the fourth quarter of 2020, and that they would like to see the company sell many more annuities this year. Executives from the Hamilton, Bermuda-based insurer and reinsurer talked about how they see the U.S. individual annuity market […]

    U.S. Life Expectancy Fell in First Half of 2020 as Covid-19 Deaths Surged

    {February 24th, 2021} by Janet Adamy

    U.S. life expectancy declined by a year during the first half of 2020, according to federal figures released Thursday that show the deadly impact of the coronavirus pandemic’s early months. The Centers for Disease Control and Prevention’s National Center for Health Statistics said life expectancy at birth was 77.8 years as of the end of June based […]

    Aquarian Agrees to Acquire Pavonia Life of New York: Deals

    {February 24th, 2021} by Allison Bell

    The New York-based investment company that acquired Investors Heritage Life Insurance Company in 2017 is hoping to buy a life insurer based in New York state. Aquarian Holdings, has agreed to acquire Pavonia Life Insurance Company of New York from a wholly owned U.S. subsidiary of Enstar Group Limited. Enstar Group is a Hamilton, Bermuda-based […]

    Kentucky Annuity Suitability Measure Hits Turbulence

    {February 24th, 2021} by Allison Bell

    The Insured Retirement Institute (IRI) is asking the Kentucky Department of Insurance to put the term “best interest” back into a proposed annuity sales standards regulation update. The Kentucky department is working to adopt a Suitability in Annuity Transactions Model Regulation update that was developed and approved by the National Association of Insurance Commissioners (NAIC), […]

    Are Annuity Providers Safe?

    {February 24th, 2021} by Michael Clark

    Plan sponsors embarking on an annuity purchase face additional uncertainty and risks due to the implications of COVID-19. Transactions are continuing and there are no current solvency concerns, however awareness of market conditions and performing due diligence of insurance providers takes on additional importance. Over the last decade, de-risking a pension plan through the use […]

    Emotional Intelligence and Success

    {February 24th, 2021} by Regina Bedoya

    After observing trends related to consumers losing trust in corporations, government and media, Million Dollar Round Table recently conducted a consumer study to dig deeper into how distrust is impacting the financial services industry. The study revealed that the majority of advisors have earned their clients’ trust, thus rising above other professions in this era […]

    Investment Firm Presses Principal to Shed Life and Annuity Arm

    {February 24th, 2021} by Allison Bell

    Activist fund Elliott Investment Management L.P. — the parent of Prosperity Life Group — is pushing Principal Financial Group Inc. to do something with its life and annuity operations, according to reports filed with the U.S. Securities and Exchange Commission. Elliot owns stock in Principal. Principal is a Des Moines, Iowa-based financial services company that has been […]

    Allianz Life Named One of the World’s Most Ethical Companies in 2021

    {February 24th, 2021} by Allianz

    MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) announced today it has been recognized as one of the 2021 World’s Most Ethical Companies. The annual World’s Most Ethical Companies recognition from Ethisphere honors companies from around the world that demonstrate a commitment to business integrity, making a difference in the communities they touch, and […]

    Jackson National Puts Its Future in Veteran Hands

    {February 24th, 2021} by Kerry Pechter

    As it prepares to de-merge from UK-based Prudential plc after 35 years and begin trading on the New York Stock Exchange (as JXN), Jackson National Life—the leading issuer of variable annuity contracts in the US—has named new top management. Laura Prieskorn, most recently Jackson’s Chief Operating Officer, was named CEO. Marcia Wadsten, who joined Jackson […]

    How the pandemic highlights diversity challenges in financial services

    {February 24th, 2021} by Jeff Benjamin

    If there is an upside to the global pandemic and the resulting lockdowns that have forced people to work from home, it might be that the situation has highlighted imbalances when it comes to gender roles and responsibilities. Click HERE to read the full story via InvestmentNews

    Principal launches strategic review after settlement with Elliott

    {February 24th, 2021} by Bloomberg News

    Principal Financial Group Inc. said it plans to launch a strategic review and appoint two new independent directors as part of a settlement agreement with activist investor Elliott Investment Management. Click HERE to read the full story via InvestmentNews.

    Securian Financial Reports 2020 Financial Results

    {February 24th, 2021} by Securian Financial

    ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial announced preliminary 2020 financial results during its annual all-company meeting yesterday, highlighted by continued revenue growth and increased community giving in a challenging year. “Securian Financial’s purpose and values were on full display in 2020. The worst pandemic in a century highlighted the importance of the peace of mind and […]

    Nearly All Employed U.S. Adults Focused on Improving Finances as a Result of COVID-19

    {February 24th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–COVID-19 has altered almost every aspect of daily life, yet a positive trend has emerged: Americans are more actively engaged in their finances. Research from Lincoln Financial Group (NYSE:LNC) shows that 79% of full-time employed U.S. adults say COVID-19 has changed the way they think about planning for their financial future, and 93% say that […]

    AIG to Participate in the Credit Suisse Virtual Financial Services Forum

    {February 24th, 2021} by American International Group, Inc

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today announced that Mark Lyons, AIG’s Chief Financial Officer, and Sabra Purtill, AIG’s Deputy Chief Financial Officer and Treasurer, will participate in a fireside chat at the Credit Suisse Virtual Financial Services Forum on Friday, February 26, 2021 at 10:30 a.m. ET. A link to the audio […]

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

    {February 24th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG] and collectively are referred to as Principal. Concurrently, AM Best has affirmed the Long-Term […]

    Symetra Named ‘Corporate Leader of the Year’ by Greater Seattle Business Association

    {February 24th, 2021} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company was recognized as the 2020 Corporate Leader of the Year by the Greater Seattle Business Association (GSBA) during the organization’s 40th annual Business & Humanitarian Awards, held virtually last night. The annual event honors Puget Sound businesses, nonprofit organizations, and community leaders who demonstrate leadership and success in their business […]

    AM Best Affirms Credit Ratings of Symetra Financial Corporation and Its Subsidiaries

    {February 24th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of Symetra Life Insurance Company and its subsidiary, First Symetra National Life Insurance Company of New York (New York, NY), together referred to as Symetra Life Group. Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” and […]

    Latest Variable Universal Life Offerings from Lincoln Financial Provide New Options for Guaranteed Protection and Market Growth Opportunities

    {February 24th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) has launched its latest Lincoln VULONE and Lincoln Survivorship VULONE (SVULONE) variable universal life (VUL) insurance offerings. The new VULONE products offer two guaranteed minimum death benefit choices so clients can tailor their policy to their specific needs – from the cost of the coverage to the length and amount. They are now also […]

    American Family Insurance commits $105 million to help close equity gaps under ‘Free to Dream’ initiative

    {February 24th, 2021} by American Family Insurance

    MADISON, Wis.–(BUSINESS WIRE)–American Family Insurance today unveiled Free to Dream, a $105 million commitment over the next five years to continue its work to help close equity gaps and improve the quality of life for communities. American Family will sharpen its focus on five major societal issues – which the company is calling its Free to Dream […]

    American Equity Reports Fourth Quarter and Full Year 2020 Results

    {February 24th, 2021} by American Equity

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs) today reported fourth quarter 2020 net loss available to common stockholders of $6.3 million, or $(0.07) per diluted common share, compared to net income available to common stockholders of $220.2 million, or $2.40 per diluted […]

    Principal Financial Group Announces Shareholder Value Initiatives

    {February 24th, 2021} by Principal Financial Group

    DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) today announced steps to enhance shareholder value by initiating a strategic review of its business mix, capital management, and capital deployment options. Principal® will be adding two new independent directors to its Board of Directors, Maliz Beams and a second director to be named at a later date. These […]

    Luma Partners with Insurance Technologies to Bring Annuities Solution to Market

    {February 24th, 2021} by Luma

    CINCINNATI–(BUSINESS WIRE)–Luma Financial Technologies (“Luma”), an independent, multi-issuer structured products and annuities platform, announced today that they have selected Insurance Technologies, LLC, provider of FireLight®, a multi-carrier end-to-end insurance and retirement sales platform, as its latest partner to bring their annuities solution, “Luma Annuities,” to market. The Luma platform, which is backed by three of […]

    Pacific Life Named One of the 2021 World’s Most Ethical Companies

    {February 24th, 2021} by Pacifid Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has been named one of the 2021 World’s Most Ethical Companies® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. Pacific Life was evaluated on five categories, including: its ethics and compliance program; culture of ethics; environmental and societal impact; corporate governance; and leadership […]

    Pacific Life Launches Fee-Friendly Advisory Variable Annuity

    {February 24th, 2021} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Continuing the goal of expanding offerings tailored to registered investment advisors (RIAs), Pacific Life today announced that it has added a no-load, fee-friendly, investment-only variable annuity to its suite of advisory annuities. Designed specifically to fit within the RIA and fee-based financial professional’s business model, Pacific Advisory Variable Annuity can help address a […]

    Financial Institutions To Significantly Increase Use Of Gig Economy Workers

    {February 24th, 2021} by Insurance Forums Staff

    22 February 2021 – More than half (52%) of financial institutions say they expect to have more gig-based employees over the next three to five years, according PwC’s report, “Productivity 2021 and beyond: Upskilling the workforce of the future to create a competitive advantage in financial services.” Click HERE to read the full story via […]

    The Pandemic Will End – These Trends Will Continue

    {February 24th, 2021} by Rich Blake

    As more Americans get fully vaccinated and spring rolls into summer, there is seemingly at long last some light at the end of the tunnel. And when the pandemic fades from memory, members of the advisory industry say, there are going to be a number of game-changing trends that are here to stay. Click HERE […]

    2021 Insurance Regulatory Outlook

    {February 24th, 2021} by Insurance Forums Staff

    To call 2020 a difficult and challenging year is to state the obvious. However, it is often the less obvious ripple effects from a crisis that have the biggest, most enduring impacts. In 2020, COVID-19 affected every person on the planet to some degree. But its full long-term impact on the global economy—and on how […]

    Interest in careers as life insurance agents soars in 2020

    {February 24th, 2021} by Insurance Forums Staff

    COVID-19 and social distancing measures upended many industries resulting in a record-high unemployment rate of 14.7% in April 2020. While the economy is slowly recovering, some market sectors continue to struggle. According to the Bureau of Labor Statistics, jobs in hospitality, transportation, health services and construction were among the greatest hit by the recession. New LIMRA […]

    Want More Tax-Free Retirement Income? One Man’s Whole Life Decision

    {February 24th, 2021} by Michael Aloi

    Jim is 53 and a longtime client. He is in sales, earning decent money. Lately, he is thinking more about retirement. He wants to create a stream of income to supplement Social Security. However, he does not want to invest more in the stock market. He feels he has enough at risk in his 401(k) […]

    MetLife and Principal to Provide Annuity Benefits to Philips North America, LLC Retirement Participants

    {February 23rd, 2021} by Principal Financial Group

    NEW YORK–(BUSINESS WIRE)–Principal Financial Group® and Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, Inc. (“MetLife”), announced today they entered into an agreement with Philips North America LLC (“Philips”) to transfer approximately $1.2 billion of Philips North America Pension Plan obligations to Principal Financial Group® (“Principal”) and MetLife. The agreement, which was signed in the fourth […]

    Equitable Holdings Reports Full Year and Fourth Quarter 2020 Results

    {February 23rd, 2021} by Equitable Holdings, Inc

    NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (“Equitable Holdings,” “Holdings,” or the “Company”) (NYSE: EQH) today announced financial results for the full year and fourth quarter ended December 31, 2020. “Against the backdrop of a historic health and economic crisis, I am pleased to report strong results for Equitable in the fourth quarter of 2020 with assets […]

    Envestnet Reveals New ‘Personal Financial Ecosystem’

    {February 23rd, 2021} by Jeff Berman

    Envestnet is building a new “personal financial ecosystem” that aims to educate consumers and help them better connect with financial professionals — while also improving the user experience and data-sharing capacity of both advisors and consumers. “The digital engagement model is not very fulfilling in financial services today,” said Envestnet CEO Bill Crager in an […]

    Northwestern Mutual Expands New York City Presence

    {February 23rd, 2021} by Northwestern Mutual

    MILWAUKEE, Feb. 17, 2021 /PRNewswire/ — Northwestern Mutual, a financial security company focused on comprehensive financial planning through both insurance and investments, is announcing the opening of two new offices within the New York City area in Harlem and Cedarhurst. “This exciting expansion is an opportunity to deliver financial planning solutions to historically underserved communities,” said Tim Gerend, chief distribution officer, Northwestern Mutual. “We’re […]

    Fidelity National Financial, Inc. Announces Quarterly Cash Dividend of $0.36

    {February 23rd, 2021} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., Feb. 17, 2021 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE:FNF) (the “Company”) today announced that its Board of Directors has declared a quarterly cash dividend of $0.36 per share.  The dividend will be payable March 31, 2021, to stockholders of record as of March 17, 2021. About Fidelity National Financial, Inc. Fidelity National Financial, Inc. (NYSE: FNF) is a leading provider of […]

    John Hancock Closed-End Funds Release Earnings Data

    {February 23rd, 2021} by John Hancock Investment Management

    BOSTON, Feb. 23, 2021 /PRNewswire/ – The eight John Hancock Closed-End Funds listed in the table below announced earnings1 for the three months ended January 31, 2021. The same data for the comparable three month period ended January 31, 2020 is also available below. Three Months Ended 1/31/2021 Ticker Fund Name Current Fiscal Year End Net Investment Income Per Common Share NAV […]

    Guaranteed Lifetime Income Study (GLIS): New White Paper Reveals Significant Impact of COVID-19 Pandemic on Consumer and Financial Professional Attitudes to GLI Products

    {February 23rd, 2021} by Greenwald Research and CANNEX

    WASHINGTON, Feb. 17, 2021 /PRNewswire/ — A new white paper from Greenwald Research and CANNEX analyzing research conducted in the days prior to the pandemic and a follow-up study fielded in the midst of the pandemic paints a complex picture of the effect of the COVID crisis on consumer and financial professional perceptions of guaranteed lifetime income. […]

    John Hancock Retirement State of the Participant 2021 study highlights retirement security and preparation in spite of a challenging 2020

    {February 23rd, 2021} by John Hancock Retirement

    BOSTON, Feb. 22, 2021 /PRNewswire/ – John Hancock Retirement continues to observe retirement readiness in participants despite the impact of the COVID -19 pandemic. Throughout 2020, the majority of the more than 1.1 million participants in over 1,000 John Hancock open architecture defined contribution (DC) plans lost relatively little ground in their efforts to save for a secure retirement. From October 1, […]

    TIAA Named One of 2021 World’s Most Ethical Companies® by the Ethisphere Institute for the Seventh Consecutive Year

    {February 23rd, 2021} by TIAA

    NEW YORK, Feb. 23, 2021 /PRNewswire/ — TIAA, the leading provider of financial services in the academic, research, medical, cultural and government field, received its seventh consecutive annual recognition as one of the 2021 World’s Most Ethical Companies® by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. “For over a century, […]

    Simplicity Group Expands Distribution with the Acquisition of Advisors Financial Group and Welcomes Greg Patterson as New Partner

    {February 23rd, 2021} by Simplicity Group Holdings

    SUMMIT, N.J., Feb. 23, 2021 /PRNewswire/ — Simplicity Group (“Simplicity”) is pleased to announce that it has added Advisors Financial Group, an independent life and annuity insurance distribution business, to the Simplicity Group of companies. As part of this expansion, Simplicity welcomes Greg Patterson, as its newest partner and shareholder, through a transaction that closed effective February 1. “Simplicity is […]

    Access to Guaranteed Lifetime Income Boosts Employee Confidence, Retirement Savings During Pandemic According to New Survey

    {February 23rd, 2021} by TIAA

    NEW YORK, Feb. 23 2021 /PRNewswire/ — Helping employees save for retirement remains a priority for a substantial majority (74 percent) of employers and, despite economic uncertainty, more than three in ten employees say they increased their retirement savings contributions in the last year, according to the TIAA Retirement Insights Survey. Further, 80 percent of employees who have […]

    Rollovers Are Fiduciary Advice Under New DOL Rule

    {February 23rd, 2021} by Melanie Waddell

    Advisors, take heed: The recently approved Trump Labor Department fiduciary prohibited transaction exemption, which took effect Tuesday, treats rollovers as fiduciary advice. “People have made the argument that rollovers cannot be fiduciary advice because it’s a one-time recommendation,” Brad Campbell, partner at Faegre Drinker in Washington, said Tuesday on the firm’s webcast, “What Lies Ahead […]

    Annuity industry shifts focus as RILA sales jump in 2020

    {February 23rd, 2021} by Jason Woleben, Hailey Ross

    Some insurers are getting out of what was once a robust market for variable annuities with optional living benefits riders as interest rates plummet. Years of low interest rates have been a challenge for U.S. life insurers, but the additional rate drops during the COVID-19 pandemic made it even more difficult for companies to price […]

    Learning Professional

    {February 23rd, 2021} by N/A

    About the job Do you enjoy working on projects that deliver tangible results? Do you have experience designing and delivering learning solutions, managing change, and helping people build new skills in a corporate environment? Are you naturally curious? Do you continuously scan your environment for opportunities? The Learning Professional is an experienced learning designer who is comfortable […]

    Regional Sales Manager – PA, WV, OH

    {February 23rd, 2021} by N/A

    About the job Description American Equity is looking for this sales leader to be based in one of the following locations: Pennsylvania, West Virginia, Ohio or West Des Moines, Iowa. General Purpose Of The Job The Regional Sales Manager is responsible for driving sales in a specific territory of the country, including accountability for working […]

    Evolutionary Distribution Channel

    {February 17th, 2021} by Sheryl J. Moore

    Late-night, sleep-deprived idea; how about we- 1. Save the insurance distribution from “dying off;” 2. Recruit more people of color into this business; 3. Recruit more females into this business; & 4. Create an “income glidepath” for those newly-entering the insurance business? This provides salespeople the financial (safety?)/support that they need in the early years […]

    Brighthouse Sees Strong Annuity Sales, But Expects Decline In 2021

    {February 17th, 2021} by John Hilton

    While Brighthouse Financial fixed annuity sales were great in the fourth quarter, the company does not expect that to continue into 2021, said Conor Murphy, executive vice president and chief operating officer. Fixed annuities represent a small share of the Brighthouse annuity line, but was a recent bright spot for sales. However, rates decreased from […]

    IRS Sends Security Benefit an Annuity Advisory Fee Letter Ruling

    {February 17th, 2021} by Allison Bell

    Security Benefit today said that it has an Internal Revenue Service interpretation that should make offering fee-based annuities cheaper and easier, both for the fee-based advisors and for the clients. The Topeka, Kansas-based company has received an IRS private letter ruling that will allow the company to pay fees to advisors directly from an annuity […]

    MDRT Revises Production Requirements For 2021

    {February 17th, 2021} by MDRT

    PARK RIDGE, Ill. (Feb. 9, 2021) — Throughout its nearly 100-year history, MDRT has evolved alongside the financial services profession, adapting and innovating its leading production requirements to best serve top financial professionals worldwide. In the face of last year’s business challenges, MDRT innovated once more, adjusting 2021 production requirements to ensure equal opportunity for qualified financial services […]

    DOL Investment Advice Rule Takes Effect — What Does That Mean?

    {February 17th, 2021} by John Hilton

    The Department of Labor’s investment advice rule takes effect today, but that does not entirely clear up the mystery of what future annuity sales rules will look like. There are still plenty of options on the table for the Biden administration to reshape the rule — a holdover from the Trump administration. The investment advice […]

    The Cost Of Waiting To Buy An Annuity

    {February 17th, 2021} by John Williams

    During times of economic uncertainty, it’s common for people to be concerned about their retirement, and how options like deferred annuities can fit in. After a record year for low interest rates, there may be indecision about purchasing a fixed annuity now, or waiting until rates increase. Even in a low interest-rate environment, an annuity […]

    A New Approach to Life Sales

    {February 17th, 2021} by Scott Stathis and contribution from Robert Mittel and Janet Cappelletti

    For as long as those of us who have spent their careers working in the bank and credit union channel can remember, there is possibly only one thing that has not changed: we are bad at selling life insurance. Put another way, for institutions that are supposed to be helping people manage and grow their […]

    DOL Goes Ahead with Trump-Era Fiduciary Exemption Rule as Planned

    {February 17th, 2021} by Alex Padalka

    The Department of Labor says that it’s implementing, as scheduled, an exemption for investment advice fiduciaries devised during the Trump administration. “Improving Investment Advice for Worker & Retirees,” as the rule is known, provides for an exemption that essentially allows investment advisors, broker-dealers and other investment professionals and institutions to collect various payments, including 12b-1 […]

    Commentary: How the Insurance Industry Is Being Disrupted, and Why Now

    {February 17th, 2021} by David Lau

    The financial insurance and annuity industries are multi-trillion-dollar industries, and they should be. These products are important components of holistic financial plans for individuals and families. Life and disability insurance can help protect income during wealth-building years, while annuities provide secure lifetime income during retirement, which mitigates significant risks that can derail a retirement plan […]

    In Greater Grand Forks, options abound for life insurance coverage

    {February 17th, 2021} by Grand Forks Herald (ND)

    Feb. 16—Regardless of the stage of life, buying coverage to insure it is part of sound financial planning, say experts in the field. Being insured throughout life’s stages is important because it guarantees that the person’s financial obligations will be covered upon death, said Matthew Anderson, an agent with First International Insurance in Grand Forks. Click HERE to […]

    Touchstone to acquire AIG Life & Retirement assets

    {February 17th, 2021} by Touchstone

    Touchstone Investments, a subsidiary of Western & Southern Financial Group, has entered into a definitive agreement to acquire certain assets of AIG Life & Retirement’s Retail Mutual Funds business. In the proposed transaction, which is expected to close in mid-2021, twelve funds with approximately $7.5 billion in assets will be acquired by Touchstone funds. The […]

    Trump DOL Fiduciary Rule to Take Effect Tuesday

    {February 17th, 2021} by Melanie Waddell

    The Labor Department said Friday that its fiduciary prohibited advice exemption to align with the Securities and Exchange Commission’s Regulation Best Interest will go into effect Tuesday. Labor’s Employee Benefits Security Administration’s PTE, called “Improving Investment Advice for Worker & Retirees,” is “broadly aligned” with Reg BI, according to the Employee Benefits Security Administration. Click HERE […]

    Annuity Literacy: The Time Is Right

    {February 17th, 2021} by Harry N. Stout

    America has a financial and annuity literacy problem. As reported in survey after survey, Americans score very low when asked about basic financial concepts. Building on the same theme, the annual LIMRA Insurance Barometer Study consistently reports low levels of understanding about the basics of annuity products. As if these low knowledge levels were not […]

    American College Names Leader Focused on Empowering Black Community

    {February 17th, 2021} by Bernice Napach

    The American College of Financial Services has named Karim Hill executive director of its Center for Economic Empowerment and Equality, which it launched late last summer. The center is dedicated to helping combat racial inequality and promote wealth creation and upward mobility in the Black community. Its Four Steps Forward pillars include developing the next […]

    New Rule on 401(k) Rollovers Takes Effect, as Biden Sticks With Trump-Era Change

    {February 17th, 2021} by Anne Tergesen

    The Labor Department said late last week that it will build upon a Trump administration regulation governing advice that affects the trillions of dollars in retirement accounts, rather than replace it. The measure, which goes into effect Tuesday, will cause many rollovers, in which hundreds of billions of dollars move annually from 401(k)s to individual […]

    Genworth Financial Announces Fourth Quarter 2020 Results

    {February 17th, 2021} by Genworth Financial Inc

    RICHMOND, Va., Feb. 16, 2021 /PRNewswire/ — Fourth Quarter Net Income Of $267 Million And Adjusted Operating Income Of $173 Million; 2020 Full Year Net Income Of $178 Million And Adjusted Operating Income Of $317 Million U.S. Mortgage Insurance (MI) 2020 Full Year Adjusted Operating Income Of $381 Million; Record New Insurance Written (NIW) U.S. MI’s PMIERs1 Sufficiency Ratio Estimated At 137 Percent, $1,229 Million Above Published […]

    New scholarship fund advances women in financial services

    {February 17th, 2021} by Ameritas

    LINCOLN, Neb., Feb. 16, 2021 /PRNewswire/ — Ameritas is pleased to announce the Ameritas Scholarship for the Advancement of Women in Financial Services. This scholarship will be offered exclusively by The American College of Financial Services to women seeking the Wealth Management Certified Professional® (WMCP®) designation. The WMCP® designation is focused on enhancing how to approach wealth management through core […]

    Nationwide Doubles Down on Venture Capital Efforts, Expands Investment Fund to $350 Million

    {February 17th, 2021} by Nationwide

    COLUMBUS, Ohio, Feb. 11, 2021 /PRNewswire/ — Nationwide is announcing it is expanding its venture capital investment fund to $350 million. The funding will be directed into high-growth potential insurance and financial services startups that directly advance Nationwide’s strategy and enable even greater customer value. “We have had tremendous interest from startups to partner with us and help them […]

    Haven Life partners with Waffle, providing more individuals with convenient, no-medical exam life insurance

    {February 17th, 2021} by Haven Life

    NEW YORK, Feb. 11, 2021 /PRNewswire/ — Haven Life, the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), and Waffle are today announcing a partnership that will allow more individuals to purchase the financial protection they need. Through the collaboration, Haven Simple is featured as the only term life insurance product available for […]

    Transamerica Enhances Customer Experience with Remote Online Notary Service

    {February 17th, 2021} by Transamerica

    BALTIMORE, Feb. 10, 2021 /PRNewswire/ — Transamerica announced today the enhancement of retirement plan participants’ online experience by offering a new way to notarize a number of documents without leaving the comfort and safety of home via remote online notarization. Through a collaboration with remote online notarization pioneer Notarize, Transamerica gives plan participants the choice to use […]

    Commonwealth Adds IT, Information Security Leaders

    {February 17th, 2021} by Jeff Berman

    Commonwealth Financial has made two key additions to its information technology and information security leadership teams as it preps for future growth. Mukund Ravipaty was named chief information security officer, while Garreth Speer was named vice president, IT infrastructure. “Both positions will be instrumental in broadening Commonwealth’s cloud technology strategy and enhancing its security posture as the […]

    New Annuities Language Glossary Brings Clarity and Simplicity to Critical Asset Class

    {February 17th, 2021} by Alliance For Lifetime Income

    WASHINGTON, Feb. 16, 2021 /PRNewswire/ — The Alliance for Lifetime Income, a non-profit consumer education organization devoted to helping Americans address the risk of outliving their retirement income, today released the Second Edition of its Annuities Language Glossary. This new resource for consumers and financial professionals builds on the original glossary by adding new terms and definitions to reduce complexity and […]

    Next Generation of Long-Term Care Solutions Provides Guaranteed Protection, Offers Flexible Care and Payment Options and the Opportunity for Growth Through Investment Performance

    {February 17th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–To help address the concerns of 87% of Americans who say that having a long-term care solution would help them feel more confident about their financial future2, Lincoln Financial Group (NYSE: LNC) today launched MoneyGuard Market AdvantageSM a variable universal life insurance policy with a long-term care rider that helps cover qualified long-term care expenses. […]

    Equitable Retirement VisionSM Launches with Enhanced Features and Services

    {February 17th, 2021} by Equitable

    NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today unveiled Equitable Retirement VisionSM, a new platform for ERISA and non-ERISA retirement plans. Equitable Retirement VisionSM offers new features and services for plan sponsors and participants, including: A managed account option, reflecting professional advice for an integrated investment strategy and […]

    Jackson Announces Leadership Changes Led By New CEO Laura Prieskorn

    {February 17th, 2021} by Jackson Financial Inc.

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.¹ (“Jackson”), today announced leadership changes ahead of the company’s planned separation from Prudential plc (“Prudential”). The changes follow a February 10, 2021 announcement from Prudential, which named Laura Prieskorn Chief Executive Officer of Jackson and Marcia Wadsten Chief Financial Officer of Jackson. Along with these changes, Michael Falcon and Axel […]

    Security Benefit Gains Favorable Tax Treatment for Advisory Fees on Annuity Contracts

    {February 17th, 2021} by Security Benefit

    TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit today announced that it has received a favorable private letter ruling (PLR) from the Internal Revenue Service (IRS) that payment of certain investment advisory fees from an annuity contract are not treated as a taxable event by the contract owner. This provides financial professionals and their clients with greater flexibility to […]

    Fierce fiduciary debate awaits Biden’s SEC pick

    {February 17th, 2021} by Tobias Salinger

    As fiduciary advocates and brokerage firms await the expected confirmation of a new SEC chair, they’re lining up on opposite sides of a fierce ongoing debate over fiduciary rules: do they go too far, or not far enough? The Institute for the Fiduciary Standard and the Financial Services Institute each held events in the past […]

    CORRECTING and REPLACING Aquarian Holdings Announces Agreement to Acquire Pavonia Life Insurance Company of New York

    {February 17th, 2021} by Aquarian Holdings

    NEW YORK–(BUSINESS WIRE)–Last sentence of the release should read: RBC Capital Markets acted as financial advisor…(instead of RBC Global Markets acted as financial advisor…). The updated release reads: AQUARIAN HOLDINGS ANNOUNCES AGREEMENT TO ACQUIRE PAVONIA LIFE INSURANCE COMPANY OF NEW YORK Aquarian Holdings (“Aquarian”) announced today that it has entered into a definitive agreement to […]

    The real reason Black Americans have less life insurance coverage

    {February 17th, 2021} by Georgia Rose

    The relationship between life insurance and the African American community is complex. Although Black Americans are more likely to own life insurance than whites, a recent study shows, their coverage is often far less. The sizable coverage gap between Black and white Americans has many causes, experts say, including the way life insurance was sold […]

    EMC Receives 2021 Top Workplaces USA Award

    {February 17th, 2021} by EMC

    DES MOINES, Iowa (Jan. 28, 2021)—EMC Insurance Companies has earned a 2021 Top Workplaces USA award from Energage, an organization focused on building and branding Top Workplaces across the country. This is the inaugural year for Top Workplaces USA, built on the program’s 14-year history surveying more than 20 million employees across 54 markets for regional […]

    Retirement Income Consultant of the Year Award

    {February 17th, 2021} by Mike McGlothlin

    Nicholas Bond earned the Retirement Income Consultant of the Year Award for 2020 at Ash Brokerage. He helped his advisors grow through education, personal attention, and helping them with ideas, marketing, and case development. Thanks for all you do for the advisors in your territory, Nick!   

    Virtual industry events offer strong content lineup in February

    {February 17th, 2021} by Insurance Forums Staff

    While live, in-person conferences may still be a few months away, that doesn’t mean there aren’t some great events on tap this month for life insurance professionals. NAILBA and LIMRA are both hosting virtual events this month with some high-profile headliners. Click HERE to read the full story via Insurance Forums

    Insurtech News: Bestow partners with Lemonade; Oscar readies IPO

    {February 17th, 2021} by Insurance Forums Staff

    Bestow is bringing its digital life insurance infrastructure to a leading P&C insurer. Dallas-based Bestow, which bills itself as “the first full-stack life insurance company,” just announced a new partnership with Lemonade, the insurtech unicorn known for its homeowners, renters and pet insurance, which recently launched life insurance. Click HERE to read the full story […]

    Annuity sales tumble but drive mega deals and RIA partnerships

    {February 17th, 2021} by Tobias Salinger

    And, in addition to the billions in sales among new RILAs launched in 2020 by issuers such as Prudential Financial, earlier entrants like Equitable, Brighthouse, Allianz and Lincoln Financial Group are raking in purchases of the products, says Sheryl Moore, CEO of annuity research firm Wink. RILA sales surged by 38% year-over-year in 2020 to $24 […]

    Prudential Quietly Preps New Annuity After $2B FlexGuard Success

    {February 17th, 2021} by Cyril Tuohy

    With buffered annuities in existence for only about a decade, “These products are still immature in terms of the product life cycle,” said Sheryl Moore, CEO of Wink, the publisher of Wink’s Sales & Market Report.   Click HERE to read the full story via Life Annuity Specialist 

    Wink. Different. Better.

    {February 10th, 2021} by Sheryl J. Moore

    Wink: A third-party market research firm. Wink tracks life insurance & annuity companies, products, their features, rates, sales, & marketing since 2005.  Different: Insurance companies do not have to pay to participate in Wink’s services. Participating subscribers all pay the same price for a subscription. Better: Wink tracks sales metrics that are meaningful, standardized, and […]

    Insure Your Love

    {February 10th, 2021} by Wink's RockStars

    February is #InsureYourLove Month. This Valentine’s Day, don’t forget what is important. 

    Presidents’ Day

    {February 10th, 2021} by Jamie Johnson

    The Wink offices will be closed on Monday, February 15th in observance of the holiday. 

    Retirement Inside Out Podcast

    {February 10th, 2021} by Financial Independence Group

    Check it out. Tom Lamendola and I will give you the skinny on what’s going on with annuities. – sjm

    Death Benefits May Bring New Life to Sales of Buffered Annuities

    {February 10th, 2021} by Cyril Tuohy

    “I suspect that as this market matures, we will see more companies positioning their products for sales outside of the accumulation space,” said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. Click HERE to read the full story via Life Annuity Specialist

    MassMutual buys Great American Life for $3.5 billion

    {February 10th, 2021} by Editorial Staff

    “This transaction is symbiotic,” Sheryl Moore, CEO of Wink Inc., the annuity data and marketing shop in Des Moines. “MassMutual, in addition to having a robust life insurance line, dominates the multi-year guaranteed annuity market and has competitive variable annuities too. Great American complements them with its strong market share in the fixed, indexed, and […]

    Delaware Adopts Annuity Sales Standards Regulation

    {February 10th, 2021} by Allison Bell

    Delaware is getting an annuity sales standards regulation based on the new National Association of Insurance Commissioners’ annuity suitability model update. Delaware Insurance Commissioner Trinidad Navarro approved the model update Jan. 15, and the Delaware Department of Insurance published the regulation adoption and final order document earlier this week. Click HERE to read the full […]

    CNO Financial Group Reports Fourth Quarter and Full Year 2020 Results

    {February 10th, 2021} by CNO Financial Group Inc.

    CARMEL, Ind., Feb. 9, 2021 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ending December 31, 2020, net income was $111.8 million, or $0.80 per diluted share compared to net income of $278.0 million, or $1.84 per diluted share in 4Q19 (including $193.7 million, or $1.28 per diluted share, related to a tax benefit from a tax planning strategy). Net operating income […]

    Ameriprise Financial Included in the Bloomberg Gender-Equality Index for the Second Consecutive Year

    {February 10th, 2021} by Ameriprise Financial

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) today announced that it has been included in the Bloomberg Gender-Equality Index (GEI) for the second consecutive year. Ameriprise retained its position in the index for its policies and practices in support of women in the workforce. The company performed well across the GEI’s five pillars: female leadership and […]

    Prudential Financial, Inc. Announces 2020 Results

    {February 10th, 2021} by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported fourth quarter and year-end 2020 results. Net income attributable to Prudential Financial, Inc. was $819 million ($2.03 per Common share) for the fourth quarter of 2020, compared to net income of $1.128 billion ($2.76 per Common share) for the fourth quarter of 2019. After-tax adjusted operating […]

    iPipeline Partners with Snowflake to Mobilize Life Insurance and Financial Services Industry Data

    {February 10th, 2021} by iPipeline

    EXTON, Pa.–(BUSINESS WIRE)–iPipeline® – a leading provider of no code and low code cloud-based software solutions for the life insurance and financial services industry, today announced its partnership with Snowflake, the Data Cloud company, where iPipeline will leverage Snowflake’s Data Marketplace to support all their data applications and secure data sharing needs. iPipeline customers have […]

    More Black Americans Report Permanently Changing Their Spending and Saving Habits as a Direct Result of the Pandemic

    {February 10th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–The pandemic continues to create financial challenges for all Americans, but research from Lincoln Financial Group (NYSE: LNC) shows that minorities are among those hit hardest. The company’s October 2020 Consumer Sentiment Tracker found Black consumers (32%) are most likely to have experienced job loss as a result of the pandemic – a situation that […]

    Kuvare Shares Newly Published Robust Company Ratings

    {February 10th, 2021} by Kuvare US Holdings, Inc.

    CHICAGO–(BUSINESS WIRE)–Kuvare US Holdings, Inc. (collectively with its affiliates, “Kuvare”) is pleased to share financial strength ratings for segments of the Kuvare organization, as recently published by AM Best Company, Inc. (“AM Best”) and Kroll Bond Rating Agency (“KBRA”). First, Kuvare Life Re Ltd. (“KLR”), Kuvare’s Bermuda-based reinsurance company, is newly rated by both AM […]

    FBL Financial Group Reports Fourth Quarter and Full Year 2020 Results

    {February 10th, 2021} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) today reported net income attributable to FBL Financial Group for the fourth quarter of 2020 of $27.8 million, or $1.14 per diluted common share, compared to net income of $34.7 million, or $1.40 per diluted common share, for the fourth quarter of 2019. Adjusted operating income(1) totaled […]

    Allianz Life Named a Top 100 Company for Learning and Development

    {February 10th, 2021} by Allianz Life Insurance Company of North America

    MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life) announced today it was named a 2021 Training Top 100 Company by Training magazine. This is the eighth consecutive year Allianz Life has been included on the list, which recognizes companies for their strong learning and development programs. This year, Allianz Life came in at number 25. “Empowering […]

    Pacific Life Teams Up with The Pinnacle Group to Bring Advisory Annuities to RIAs

    {February 10th, 2021} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life today announced it has expanded access to the company’s two fee-based annuities, Pacific Odyssey® and Pacific Index Advisory®, through The Pinnacle Group, an insurance and annuity back office for more than 15,000 registered representatives and registered investment advisors (RIAs). “We’re excited to have the opportunity to work with The Pinnacle Group to bring […]

    AM Best to Participate in Webinar Focusing on ERM Practices in U.S. Fraternal Life Insurance Industry

    {February 10th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best will join a webinar hosted by the American Fraternal Alliance that will explore how U.S. fraternal life insurers can improve their enterprise risk management practices. The one-hour webinar takes place on Feb. 25, 2021, at 10:00 a.m. (CST). During the event, “Enterprise Risk Management: Insights From Fraternal Leaders & AM Best,” AM […]

    EIS’ Coretech Solution Accelerates Digital Transformation for Life and Annuity Insurers

    {February 10th, 2021} by EIS

    SAN FRANCISCO & LONDON–(BUSINESS WIRE)–EIS, a digital platform provider for insurers, announced today the expansion of its core EIS Suite™ to carriers in the life and annuities markets. Cloud-native and customer-centered, the Suite allows insurers to innovate across all lines of business at scale, free from legacy constraints and inefficiencies. Featuring easy API integration, EIS […]

    Prudential CEO mulls shrinking ‘low growth’ businesses

    {February 10th, 2021} by N/A

    NEW YORK: Prudential Financial Inc, which has already halted sales of some variable annuities, said that it will also consider scaling back its individual life insurance and other “market sensitive, low growth” businesses. “Life will be one of the businesses we look at in addition to annuities but not the only one, ” said chief […]

    Nationwide Partners with Annexus Retirement Solutions to Introduce Lifetime Income Builder: Next-Generation In-plan Guaranteed Income Solution

    {February 10th, 2021} by Nationwide

    COLUMBUS, Ohio, Feb. 4, 2021 /PRNewswire/ — Nationwide and Annexus Retirement Solutions today announced that they have partnered to bring to market Lifetime Income Builder, an innovative in-plan guaranteed income solution that is built to help retirement plan participants maximize their retirement income. The new retirement plan investment option, slated to launch later this year, is an […]

    Integrity Expands Reach in Life Insurance and Long-Term Care Markets with Acquisition of New York-Based Advisors Insurance Brokers

    {February 10th, 2021} by Integrity Marketing Group

    DALLAS, Feb. 9, 2021 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced it has acquired Advisors Insurance Brokers (“AIB”), one of the largest brokerage general agencies in the country. As part of the transaction, Kevin Johnson, CEO of AIB, will become a Managing Partner in Integrity. Financial terms of […]

    A New Start To An Elusive Rule?

    {February 10th, 2021} by John Hilton

    The fiduciary standard was the ideal at the center of the Obama-era Department of Labor’s Conflict of Interest Rule, so much so that it was known as the fiduciary rule. It was struck down in court, and the Trump administration put together another rule that is not altogether loved by anyone. Will the Biden administration […]

    Women in Wealth: Why It’s Their Moment

    {February 10th, 2021} by Janet Levaux

    This month, Jane Fraser becomes the first woman to lead a large Wall Street bank when she takes the reins from Michael Corbat at Citigroup. Yet the number of female advisors, as measured by CFP professionals, represents just about 23% of the industry — though the number is growing. As for financial technology, it’s tough […]

    CORRECTED-U.S. insurance asset sales attract new private equity players, strategies

    {February 10th, 2021} by Alwyn Scott, David French 5 MIN READ

      NEW YORK, Feb 8 (Reuters) – U.S. insurers are stepping up sales of annuities and other capital-intensive assets amid a surge in interest from new and established private equity buyers hungry to boost the amount of money they manage, according to industry sources and public data. Companies such as Sixth Street Partners and KKR […]

    Defendants are Not Obligated to Cover Annuity Payments in the Case of Carrier Insolvency

    {February 10th, 2021} by Faegre Drinker Biddle & Reath LLP

    Structured settlements most often take the form of fixed payment annuities, for the most part funded by the tort defendant (or its liability insurer) in a wrongful death or personal injury suit, but are the resulting periodic payments always guaranteed to be paid in full? Not necessarily. Click HERE to read the full story via JD […]

    How to handle IRA beneficiaries under the SECURE Act

    {February 10th, 2021} by Sophia Duffy

    We are now a year out from the initial passage of the SECURE Act, which was followed by some further amendments under the SECURE Act 2.0 in late 2020. Your clients may have heard conflicting advice – they must change their IRA beneficiaries, spend down their IRA as soon as possible, dismantle their trust, or […]

    Women’s retirement plans torpedoed by COVID

    {February 10th, 2021} by Mary Beth Franklin

    As the COVID-19 pandemic drags on, women investors are more concerned about their finances and increasingly turning to financial advisers for help, according to a recent survey from the Nationwide Retirement Institute. Click HERE to read the full story via InvestmentNews

    Protecting Every Future Partners With NAIFA and Joins the Financial Security Alliance

    {February 10th, 2021} by NAIFA

    FALLS CHURCH,   of Insurance and Financial Advisors is pleased to announce that Protecting Every Future, a program of the American Council of Life Insurers (ACLI), has joined the Financial Security Alliance. Protecting Every Future is a network of diverse voices and people who believe in common-sense policies that protect and strengthen the financial futures of all Americans. It provides a […]

    NFP Acquires Colburn Risk Holdings LLC, Expanding P&C Presence in Detroit Area

    {February 10th, 2021} by NFP Holdings

    NEW YORK (PRWEB) FEBRUARY 08, 2021 NFP, a leading insurance broker and consultant that provides property and casualty (P&C), corporate benefits, retirement and individual solutions, today announced the acquisition of Colburn Risk Holdings LLC (ColburnColburn). The transaction closed on December 31, 2020. ColburnColburn, a P&C broker with offices in Bloomfield Hills, Michigan, and Detroit, Michigan, provides […]

    Society of Insurance Research (SIR) survey reveals 7 in 10 health and life insurance professionals believe most touchpoints will be self-service in the next five years

    {February 10th, 2021} by Society of Insurance Research (SIR)

    MINNEAPOLIS (PRWEB) FEBRUARY 02, 2021 A recent survey of over 100 health/life insurance experts found that 59% of industry professionals believe that there is a major move online for consumers for the insurance purchase process for personal products like life, health, and property & casualty insurance. Only 27% said the move was major for businesses. The industry believes […]

    Thrivent: The Stages Of The Life Insurance Cycle

    {February 10th, 2021} by Grand Rapids Herald

    Life stages offer different challenges and rewards whether you’re starting out on your own, raising a family, focusing on your career or preparing for a rewarding retirement. However, while each stage may be unique, it’s important to make sure your loved ones are cared for financially along the way. Early career Surprisingly, it’s when you’re […]

    Prudential Pivots Away From Annuities, CEO Lowery Says

    {February 10th, 2021} by John Hilton

    Prudential plans to halve the share annuities contribute to its earnings, a downsizing the insurer aims to accomplish through sales, reinsurance deals and expiring policies. Charles Lowrey, chairman and CEO, said the company strategy is centered on Prudential’s $750 million cost savings plan. “Over the next three years we plan to reallocate between $5 billion […]

    Life Insurance Activity Growing ‘Steady’ So Far In 2021: MIB

    {February 10th, 2021} by Staff Reports

    Life insurance application activity continues to grow at a steady pace early in 2021, with year-over-year activity up 3.9%, according to the January MIB Life Index. Growth was largely driven by the 31-50 age group, up 8.5%, MIB reported, while older age groups 61 and older declined year over year. Growth in January was seen […]

    The 2020 Haven Life Family Cookbook

    {February 10th, 2021} by Haven

    Where do we even start? Every year Haven Life puts together an Annual Report to celebrate our customers and everything they’ve accomplished over the past 12 months. But 2020 was different. So for this year’s Annual Report we…didn’t really create an Annual Report at all. Instead, we made a cookbook. And filled it with recipes […]

    Whole Life Insurance Can Improve Planning

    {February 10th, 2021} by Ross Junge and Michael Finke

    Few financial products generate as much emotion from both supporters and critics as permanent life insurance. The granddaddy of permanent insurance is whole life insurance, which still represents a third of the individual life insurance market according to LIMRA.   The percentage of Americans who own permanent life insurance has declined in recent decades, and many advisors outside […]

    Which Life and Annuity Deals Might Be Best for the Clients?

    {February 10th, 2021} by Lawrence J. Rybka

    In late January, there were three major transactions involving public companies announcing the sale of U.S. life insurers. The first involved Allstate selling Allstate Life to Blackstone, at a loss of $3.1 billion. The second involved MassMutual acquiring two index annuity writers from American Financial, and the third involves a spinoff of Jackson National from […]

    COVID-19 Claims Seep Into More Insurers’ Earnings

    {February 10th, 2021} by Allison Bell

    COVID-19 claims are starting to get on life and health insurance companies’ executives nerves. Most of the life and health insurers that have posted their earnings are reporting profits for the fourth quarter of 2020, and none is close to facing a strain on capital as a result of the pandemic. Click HERE to read […]

    Lincoln Financial Feels COVID-19 Mortality Sting

    {February 10th, 2021} by Allison Bell

    Lincoln Financial says COVID-19 caused a noticeable effect on benefits costs at its individual life insurance and group insurance units in the fourth quarter of 2020. The pandemic contributed to life claims increasing 19% between the fourth quarter of 2019 and the latest quarter, to $1.1 billion. Click HERE to read the full story via […]

    Robinhood Sued Over 20-Year-Old’s Suicide

    {February 9th, 2021} by Evann Gastaldo

    (NEWSER) – The family of the 20-year-old college student who committed suicide after seeing his Robinhood account was apparently in the red to the tune of more than $700,000 is now suing the trading app. Alex Kearns committed suicide in June after seeing the alarming figure, and his family says he first tried three times to contact customer […]

    Pru Puts Individual Annuities on Diet

    {February 9th, 2021} by Allison Bell

    Prudential Financial Inc. wants to shed much of the benefits-guarantee-based annuity business now on its books, in addition to ending sales of annuities that come with significant benefit guarantees. Charles Lowrey, the Newark, New Jersey-based insurer’s CEO, and other Prudential executives talked about the company’s new attitude toward annuities last week during an earnings call […]

    Ken Fisher’s Crude Remarks: Forgiven and Forgotten?

    {February 9th, 2021} by Ben Mattlin

    It’s been more than a year since Ken Fisher, head of Fisher Investments, uttered inappropriate comments at a now infamous conference in October 2019. The Tiburon CEO Summit was closed to reporters, but an uproar quickly spread over social media and was soon amplified in mainstream media. Within a month, nearly $4 billion in assets was pulled from the […]

    Insurers Have Cut Products, Workers, Costs. Are Commissions Next?

    {February 3rd, 2021} by Warren S. Hersch

    Wink CEO Sheryl Moore says she’s not seeing reductions. A couple of carriers have, to the contrary, offered “commission specials,” such as an additional payout — say, 0.50% more for 45 days — to encourage agents to sell a particular product.   Cuts in commissions, to the extent they’re happening, may be limited to one product from a […]

    MassMutual to Acquire Great American Life Insurance Company

    {February 3rd, 2021} by Massachusetts Mutual Life Insurance Company

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (“MassMutual”) announced today it has entered into a definitive agreement with American Financial Group, Inc. (NYSE:AFG) to purchase its wholly owned subsidiary, Great American Life Insurance Company (“Great American Life”), and other subsidiaries and affiliated entities, which primarily offer traditional fixed and fixed indexed annuity products. The purchase […]

    American Financial Group, Inc. Announces Agreement to Sell its Annuity Business to MassMutual for $3.5 Billion

    {February 3rd, 2021} by American Financial Group

    CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) announced today that it has entered into a definitive agreement to sell its Annuity business to Massachusetts Mutual Life Insurance Company (MassMutual) for $3.5 billion in cash, subject to final closing adjustments to the extent that GAAP shareholders’ equity excluding accumulated other comprehensive income of the entities sold […]

    MassMutual Agrees to Pay $3.5 Billion for Great American

    {February 3rd, 2021} by Allison Bell

    Massachusetts Mutual Life Insurance Company has agreed to pay $3.5 billion in cash to acquire Great American Life Insurance Company, and several Great American affiliates, from American Financial Group Inc., the companies announced Wednesday. MassMutual has agreed to hire about 600 American Financial Group employees associated with the Great American business and keep them in […]

    AM Best Comments on Massachusetts Mutual Life Insurance Company’s Acquisition of American Financial Group Inc.’s Life Insurance Subsidiaries

    {February 3rd, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa+” of Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA) remain unchanged following its announcement that it plans to purchase the life insurance subsidiaries of American Financial Group, Inc. (AFG). In addition, […]

    MassMutual to buy Great American Life Insurance

    {February 3rd, 2021} by Emile Hallez

    The deal will reinforce MassMutual’s focus on its retail annuities business. Last year, the company sold its defined-contribution record-keeping business to Empower Retirement via a reinsurance transaction with a ceding commission of $2.35 billion. Massachusetts Mutual Life Insurance Co. is snapping up another major annuity provider, Great American Life Insurance Company, for $3.5 billion, the […]

    AM Best Places Credit Ratings of American Financial Group, Inc.’s Life and Annuity Subsidiaries Under Review With Developing Implications Following Their Announced Sale; Comments on Certain Property/Casualty Subsidiaries

    {February 3rd, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of Great American Life Insurance Company (GALIC) and its wholly owned subsidiary, Annuity Investors Life Insurance Company (AILIC), which are the key annuity subsidiaries of American Financial […]

    Hannover Re US Announces Promotions to Strengthen Offerings across the Life and Health Markets, and Continue Expansion into the Annuity Market

    {February 3rd, 2021} by Hannover Re US

    ORLANDO, Fla.–(BUSINESS WIRE)–Hannover Life Reassurance Company of America (“Hannover Re US”) announces the promotions of Tiffany Norman to Senior Vice President, Head of Annuity Solutions; Aaron Kinakin to Senior Vice President, Head of Structuring; and Thomas Porter, Senior Vice President, Head of Financial Reporting and Valuation. Tiffany Norman joined Hannover Re in 2006 as an […]

    Sammons Financial Agrees to Acquire Beacon Capital Management

    {February 3rd, 2021} by Allison Bell

    Sammons Financial Group Inc. — a life and annuity company — has agreed to acquire Beacon Capital Management Inc. Based in West Des Moines, Iowa, Sammons is parent of Midland National Life Insurance Company, North American Company for Life and Health Insurance and Sammons Institutional Group. Click HERE to read the full story via ThinkAdvisor

    CFA Asks for COVID-19 Underwriting Transparency

    {February 3rd, 2021} by Allison Bell

    Two consumer group representatives say life insurers should be open about their underwriting criteria for COVID-19 survivors, and that regulators should make sure that any COVID-19-related underwriting criteria are reasonable. J. Robert Hunter and James Hunt made that plea in a letter sent to David Altmaier, who is the president of the National Association of Insurance […]

    New York State Imposes ‘Unauthorized’ Insurer Penalty on AIG

    {February 3rd, 2021} by Allison Bell

    New York state regulators have imposed a $12 million fine on a large financial services company in connection with allegations that the company used the wrong subsidiary to handle a pension risk transfer deal. The New York State Department of Financial Services fined American General Life Insurance Company and its parent, American International Group Inc. (AIG). […]

    IRS Approves Another Annuity Fee Payment Arrangement

    {February 3rd, 2021} by Allison Bell

    The Internal Revenue Service has released a private letter ruling that blesses efforts by a life insurer to pay fees to a customer’s fee-based financial advisor directly from the annuity contract value. The holder of an annuity covered by the ruling will not have to include the amount spent on advisory fees in federal taxable […]

    TrueChoice Adds Advice Platform: Annuity Moves

    {February 3rd, 2021} by Allison Bell

    TrueChoice Financial Group LLC has added the Retirement Roadblocks marketing platform. The new platform provides retirement needs calculators, historical data, financial product performance illustrations, videos and other materials that financial professionals can use to help consumers with retirement planning. Click HERE to read the full story via ThinkAdvisor

    Financial Services Institute defends Reg BI under new administration

    {February 3rd, 2021} by Mark Schoeff Jr.

    The Financial Services Institute has long been on the offensive to get Regulation Best Interest put in place as the broker investment advice standard. Click HERE to read the full story via InvestmentNews

    ‘Tremendous Opportunity’ In Cross-Selling Life And Annuities

    {February 3rd, 2021} by Susan Rupe

    Last year was a tumultuous year when it came to market volatility and a global pandemic that brought the world’s economy to its knees. But client needs haven’t changed, and people continue to plan for retirement. The result is continued opportunities to present life insurance and annuities to clients. Click HERE to read the full […]

    NAIFA Leader Jack E. Bobo Dies

    {February 3rd, 2021} by Press Release

    The National Association of Insurance and Financial Advisors announced that Jack E. Bobo, CLU, FLMI, passed away on January 15, 2021, in Phoenix. Bobo was a legendary producer and leader in the life insurance industry who contributed the wealth of his talents and hard work to foster NAIFA’s success over several decades of his service. […]

    Jack Bobo Dies at 96

    {February 3rd, 2021} by Allison Bell

    Jack Bobo, 96, a longtime life insurance agent and life industry leader, died Jan. 15 in Phoenix, the National Association of Insurance and Financial Advisors announced Thursday. Bobo may have been best known as an officer at the National Association of Life Underwriters (NALU) — the group now known as the National Association of Insurance and […]