NAIFA
{June 7th, 2021} by Broker World
The House of Representatives has passed the Protecting the Right to Organize (PRO) Act (H.R. 842), a sweeping piece of labor legislation. Among its provisions, the PRO Act as passed by the House would reclassify many insurance and financial professionals as “employees” rather than “independent contractors” under federal labor law. NAIFA argues that such a […]
Protective Life
{June 7th, 2021} by Broker World
Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), announced enhancements to available investment options, advancing the company’s presence in the variable annuities space. To help clients better capitalize on growth opportunities, Protective’s commission-based variable annuity solutions and their fee-based advisory solutions will now offer investment options from four […]
Allianz
{June 7th, 2021} by Broker World
To help offer clients short-term control with additional options for long-term growth potential, Allianz Life Insurance Company of North America (Allianz Life) has announced new product enhancements on select index variable annuities (IVAs), also known as registered index-linked annuities (RILAs). These features on the Allianz Index Advantage® Variable Annuity and Allianz Index Advantage Income® Variable Annuity include […]
Insurance Technologies/IXN
{June 7th, 2021} by Broker World
Insurance Technologies, LLC, a leading provider of sales automation solutions for the life and annuities insurance industries, announces the acquisition of IXN, the leading provider of digital data exchange solutions for the life insurance industry. The combined company will fully integrate both companies’ proven systems to offer the most comprehensive and efficient single platform capabilities […]
Life Insurance Sales Post Dramatic Gains Not Seen in Nearly Four Decade
{June 7th, 2021} by Susan Wells
Life insurance policy sales in the U.S. have hit a record-busting pace, logging the highest quarterly growth since 1983, according to the industry research group LIMRA. Sales rose 11% in the first quarter of 2021, compared to the same period in 2020, and new premium growth also saw a double-digit boost, up 15% from a […]
NAFA Partners with Fellow Industry Leaders for Annuity Awareness Month
{June 6th, 2021} by NAFA
Targeted Educational Initiatives Aim to Position Distributors and Producers to Help Increase Annuity Education Nationwide District of Columbia, WA, June 01, 2021 –(PR.com)– As part of a collaborative effort to help Americans recover from the financial hardships of the ongoing pandemic and create a more secure retirement future, NAFA, the National Association for Fixed […]
In the wake of AJ’s death, I have found that I have become something I never intended to…an advocate
{June 3rd, 2021} by Sheryl J. Moore
When AJ Betts, my firstborn child, died- my world ended. And then- the unthinkable happened. In the wake of AJ’s death, I have found that I have become something I never intended to…an advocate. Today, I am an advocate for organ donation, advocate for suicide prevention, and advocate for LGBTQ+ rights, an advocate against bullying, […]
NAILBA Charitable Foundation Announces Additions to its Board of Directors
{June 1st, 2021} by NAILBA
FOR IMMEDIATE RELEASE—(Fairfax, VA)—May 18, 2021—The National Association of Independent Life Brokerage Agencies (NAILBA) Charitable Foundation, the Association’s philanthropic arm, has elected new officers and board members. NAILBA congratulates James J. Sorebo, CLU, SVP of Sales at Highland Capital Brokerage and former NAILBA Chair, for his election as President of the Foundation. The Foundation also announced […]
RayJay CEO: ‘Zoom Rooms’ in the Works; Branch Redesign Up Next
{June 1st, 2021} by Rita Raagas De Ramos
The pandemic has changed how clients expect to interact with their advisors, and that means firms like Raymond James need to switch up their office plans, too, according to CEO Paul Reilly. “Certainly, face-to-face is important. But for a lot of clients, they don’t want a face-to face meeting every time,” he said yesterday at […]
The Pandemic Boosted Life Insurance Sales, But for How Long?
{June 1st, 2021} by Sam J. Friedman and Michelle Canaan
It’s not surprising that the COVID-19 outbreak spurred a significant boost in life insurance activity. Fear has always been a prime factor in life policy sales, and concern about the potential for infection, severe illness, and possible death has certainly been prevalent during the pandemic. MIB’s Life Index shows U.S. applications rose by 4% in […]
3 Ways New Regulations Are Choking BDs
{June 1st, 2021} by Jon Henschen
The next few years will be all about regulation as broker-dealers figure out the proper balance of Regulation Best Interest’s disclosure, tracking and recordkeeping. Advisors at some broker-dealers tell us the new disclosures required to satisfy regulators have become suffocatingly unacceptable, though not much has changed at other firms. The future balancing act for most […]
Attorneys Expect N.Y. To Appeal Court Rejection Of Annuity Best-Interest Rule
{June 1st, 2021} by Tracey Longo
The insurance and annuities industries may have breathed a collective sigh of relief when the New York Supreme Court Appellate Division on April 29 struck down New York’s amendment to create a best-interest standard for annuities and life insurance sales. But any relief may be short-lived. That’s because the New York Department of Financial Services […]
Variable Annuity Investors Outperform Their Mutual Fund Counterparts, DALBAR Finds
{June 1st, 2021} by Tracey Longo
Retirement investors with variable annuities beat the market and average mutual fund investors over a 20-year period by holding their investments longer, according to new findings from Dalbar, a prominent investor behavior research firm. The average equity VA subaccount investor outperformed the average equity mutual fund investor by 148 bps in 2020, with the average […]
NAIC Group Defines ‘Accelerated Underwriting’ Over Industry Protests
{June 1st, 2021} by John Hilton
A state regulator group reversed course today and approved a definition of accelerated underwriting, and related data elements, after a torrent of criticism. The definition and data elements move on for consideration Thursday by the Market Conduct Annual Statement Blanks working group. If the criteria passes a further vote by the MCAS parent committee later […]
The traits required to lead through times of crisis
{June 1st, 2021} by Mia Wallace
What does it take to lead a business during a time of global upheaval? For many leaders across the insurance profession, it is a question that, until the COVID crisis hit, could comfortably remain unanswered. COVID-19 has impacted countries, industries and individuals across the world and, in doing so, shone a spotlight on the qualities […]
Covid-19 Expands Life Insurance Purchases Beyond Wealthy
{June 1st, 2021} by Leslie Scism
U.S. households from a range of incomes are buying more life-insurance policies than in years past. The number of life-insurance policies sold jumped 11% in the first quarter from a year earlier, the biggest gain since 1983, according to the industry research firm Limra. The boost extends the sales increases that began last year as […]
Announcing InsurTech Express Launches a New Innovative Website, InsurTechExpress.com, ‘A One Stop Life Insurance Resource’
{June 1st, 2021} by InsureTech Express
RALEIGH, N.C., May 24, 2021 /PRNewswire/ — InsurTech Express, LLC – a leading provider of insurance technology content and resources for the Life Insurance and Annuity industry – today announced it has launched a new website, www.insurtechexpress.com replacing its previous website. InsurTech Express did extensive market research and then partnered with a team of experienced Software Developers and Web […]
Sammons Units Update Universal Life Policies After IRS Code Change
{June 1st, 2021} by Cyril Tuohy
Sales of indexed life fell 14.3% in the fourth quarter to $621.3 million, Wink’s Sales & Market Report said earlier this month. Total 2020 indexed life sales were $2.1 billion. Indexed life sales include both indexed UL and indexed whole life. Click HERE to read the full story via Life Annuity Specialist
Small, High-Flying Annuity Issuer Downgraded by A.M. Best
{June 1st, 2021} by Richard Bedard
In April last year, market research firm Wink announced that Upstream was offering the best rates on multi-year guaranteed annuities for terms of three, five, seven, 10 and 15 years. Wink CEO Sheryl Moore said at the time that it was remarkable that the company had the highest rate for every single duration. Click HERE to read the full story […]
How Secure Act 2.0, Delayed RMD Age Would Boost Annuities
{June 1st, 2021} by Ben Mattlin
In early May, the U.S. House of Representatives introduced the Securing a Strong Retirement Act of 2021. Known as Secure Act 2.0, since it builds on 2019′s Setting Every Community Up for Retirement Enhancement (Secure) Act, the bipartisan bill expands opportunities for retirement savers. What’s been largely overlooked, however, are the implications for annuities. Click […]
Valmark Financial Group Adds MassMutual To Its Line-Up Of Preferred Insurance Partners
{June 1st, 2021} by Valmark Financial Group
AKRON, Ohio, May 25, 2021 /PRNewswire/ — Valmark Financial Group today announced it would be adding Massachusetts Mutual Life Insurance Company (MassMutual) to its list of preferred insurance carrier partners. The new partnership will allow Valmark Member Firms access to MassMutual’s entire insurance product portfolio in all 50 states, including Whole Life, Guaranteed Universal Life, Term Life, Disability […]
With the Goal of Growing its VA Business & Providing Clients with New Income and Investment Protection Options Delaware Life Launches Innovative Variable Annuity with Riders
{June 1st, 2021} by Delaware LIfe
WALTHAM, Mass., May 25, 2021 /PRNewswire/ — Delaware Life Insurance Company (“Delaware Life”) has launched an innovative new variable annuity with riders that provide financial professionals and their clients with the choice to prioritize income or investment protection during the first 7 to 10 years of the contract, based on changing market conditions or personal circumstances. The […]
DALBAR Study Shows Annuities Improve Investor Behavior
{June 1st, 2021} by Dalbar
MARLBOROUGH, Mass., May 25, 2021 /PRNewswire/ — DALBAR, Inc., the nation’s leading researcher on investor behavior, recently found that variable annuity subaccount investors exhibit less destructive behavioral tendencies and have consistently earned more money than the average investor. The study examined the cash flows and balances of over $1.5 trillion in variable annuity assets over a 20-year span to […]
AIG Retirement Services Launches Self-Directed Retirement Planning Tool to Help Plan Participants Discover Their Path to a Brighter Future
{June 1st, 2021} by AIG Retirement Services
HOUSTON–(BUSINESS WIRE)–AIG Retirement Services, a leading retirement plan provider for tax-exempt and public sector employers, today announced the launch of its self-directed version of Retirement Pathfinder, an interactive retirement planning tool now available to plan participants. Retirement Pathfinder delivers a powerful digital experience that helps participants define their retirement lifestyle and financial goals and then […]
Variable Universal Life Sales Soar: LIMRA
{June 1st, 2021} by Allison Bell
U.S. life insurers were busy writing new individual coverage in the first quarter, according to new insurer survey results from LIMRA. The total number of policies sold increased 11% between the first quarter of 2020 and the latest quarter, and the total amount of annualized premiums associated with the policies rose 15%. Click HERE to read […]
MassMutual Completes Acquisition of Great American Life Insurance Company
{June 1st, 2021} by Massachusetts Mutual Life Insurance Company
SPRINGFIELD, Mass.–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (“MassMutual”) announced today the completion of the previously announced acquisition of American Financial Group, Inc.’s (NYSE:AFG) wholly owned subsidiary, Great American Life Insurance Company (“Great American Life”), and other subsidiaries and affiliated entities, for a purchase price of approximately $3.5 billion. “We are excited to welcome Great American Life to […]
American Financial Group, Inc. Announces Closing of the Sale of its Annuity Businesses and Declares Special Dividend
{June 1st, 2021} by American Financial Group
CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) announced today the closing of the sale of its Annuity businesses, consisting of Great American Life Insurance Company (GALIC) and its two insurance subsidiaries, Annuity Investors Life Insurance Company and Manhattan National Life Insurance Company, as well as a broker-dealer affiliate, Great American Advisors, Inc., and insurance distributor, […]
Transamerica Signs Lease for 35,000 Square Feet at Wills Wharf in Baltimore’s Harbor Point
{June 1st, 2021} by Armada Hoffler
VIRGINIA BEACH, Va., May 25, 2021 (GLOBE NEWSWIRE) — Armada Hoffler Properties, Inc. (NYSE: AHH) today announced that Transamerica has agreed to lease the 35,000 square foot 8th floor of the Wills Wharf office building at Harbor Point. With Transamerica, EY, Jellyfish, Bright Horizons, and Canopy by Hilton, Wills Wharf is now 58% leased. Positioned at […]
Northwestern Mutual Advisors Announce Partnership to form Bera Wealth Advisors
{June 1st, 2021} by Northwestern Mutual
Charleston, SC, May 25, 2021 (GLOBE NEWSWIRE) — Wealth Management Advisors Heath M. Johnson and F. Chrys Kanos have partnered to form Bera Wealth Advisors, combining the strength of Northwestern Mutual with the specialized expertise of a boutique firm. Bera Wealth Advisors tailors each client’s financial plan to effectively organize and manage wealth and educate […]
