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Archive for July 2021


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  • AJ Betts LGBTQ Youth Memorial Fund

    {July 27th, 2021} by Wink's Intel Pros

      Alexander M. Betts, Jr., known to all of his friends as AJ, was a light to everyone that knew him, always laughing and smiling. He dedicated his short life to loving and helping others. To his family, he will always be remembered as the kindest human being they have ever known. His happiest moments were […]

    More than a decade of historical sales for each index

    {July 27th, 2021} by Wink's Intel Pros

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

    Lincoln The Latest Carrier To Pull Life Products From New York

    {July 27th, 2021} by Steven A. Morelli

    Lincoln Financial is the latest company pulling insurance products out of New York. Lincoln is exiting because of its electronic signature process does not comply with the state’s requirements, according to the company’s statement. “Recently, as part of a review of its electronic signature processes, Lincoln Life & Annuity Company of New York (Lincoln) became […]

    Empower’s $3.55 billion deal with Prudential makes the 401(k) world a lot smaller

    {July 27th, 2021} by Emile Hallez

    Empower Retirement’s massive deal announced today to buy Prudential’s retirement plan business marks the second major acquisition the company has made in less than a year. Click HERE to read the full story via InvestmentNews

    New American Equity Fixed Index Annuity Offers Paths to Protected Lifetime Income and Legacy Benefits

    {July 27th, 2021} by American Equity Investment Life Insurance Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–For the millions of Americans looking to supplement their retirement with a guaranteed lifelong income stream and ensure a legacy path for beneficiaries, American Equity Investment Life Insurance Company® launches a new fixed index annuity — the EstateShield. This is a 10-year retirement product designed to help clients meet life’s financial […]

    SEC Means Business with Reg BI, Charges 27 Firms Over Compliance Failures

    {July 27th, 2021} by Peter Rawlings

    The Securities and Exchange Commission says it has charged 21 registered investment advisor firms and six broker-dealers over their alleged failures to timely file and deliver new Regulation Best Interest disclosure forms. The firms settled the allegations with the regulator without admitting or denying the findings. Each agreed to a censure and to pay penalties […]

    Private Equity Firms Keep Eating U.S. Life Insurers

    {July 27th, 2021} by Allison Bell

    Very hungry financial caterpillars — private equity firms — continued to gobble up U.S. life insurance company investment assets in 2020. It’s still unclear to insurance regulators exactly what this means. Analysts at the Capital Markets Bureau, an arm of the National Association of Insurance Commissioners, say private equity firms controlled a total of $471 […]

    COVID-19 Slashes U.S. Life Expectancy at Age 65

    {July 27th, 2021} by Allison Bell

    The COVID-19 pandemic may have shortened older Americans’ lives enough in 2020 to throw off life insurance, annuity and pension mortality forecasts. An arm of the U.S. Centers for Disease Control and Prevention is reporting, based on early data, that overall life expectancy at birth dropped by 1.5 years between 2019 and 2020, to 77.3 […]

    Prudential Agrees to a $3.55B Deal

    {July 27th, 2021} by Allison Bell

    Prudential Financial hopes to raise $3.55 billion by selling its retirement plan recordkeeping administration operations to Empower Retirement. An arm of Great-West Lifeco, Empower Retirement is based in Greenwood Village, Colorado. In the sale, it would get Prudential’s defined contribution plan, defined benefit plan, non-qualified and rollover IRA businesses, along with related separate account investment […]

    Aspida Aims to Enter the Annuity Arena in 2022

    {July 27th, 2021} by Allison Bell

    Aspida Holdings says it expects to begin selling annuities and other products starting in 2022. The Durham, North Carolina-based company announced the acquisition of Global Bankers Insurance Group LLC earlier this month. The company acquired F&G Reinsurance Ltd. from Fidelity National Financial in December 2020 and changed the name of that company to Aspida Re. […]

    John Hancock Integrates with iPipeline’s iGO Application Solution to Streamline Sales and Improve Customer Experience

    {July 27th, 2021} by iPipeline

    EXTON, Pa.–(BUSINESS WIRE)–iPipeline®, a leading provider of no code / low code content-based digital solutions for the life insurance and financial services industry, today announced John Hancock has implemented a fully digital version of iGO® e-App, including Client Collaboration with AlphaTrust® e-Signature, to accelerate the life insurance application process. This new, modern approach can dramatically reduce the […]

    Allianz Life Announces Entry into Defined Contribution Market with Launch of Allianz Lifetime Income+ Annuity

    {July 27th, 2021} by Allianz Life Insurance Company of North America

    MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life) announced today that it is entering the defined contribution market with the launch of its Allianz Lifetime Income+ Annuity. The product will be available for adoption in employer-sponsored plans and will give plan participants an innovative guaranteed income option. As a supplemental source of guaranteed […]

    MassMutual Foundation Honors Dedication of Financial Professionals With $275,000 in Grants to Nonprofit Organizations Again In 2021

    {July 27th, 2021} by The MassMutual Foundation

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–The MassMutual Foundation has awarded $275,000 to eligible nonprofit organizations through its annual Community Service Awards (CSA) program. These charitable contributions – which include two $25,000 awards, fifteen $10,000 awards, and fifteen $5,000 awards – are given in honor of financial professionals who demonstrate outstanding commitment to nonprofit organizations in their local communities. […]

    Latest New York Life Wealth Watch Survey Reveals Generational Divide In Post-Pandemic Financial Confidence

    {July 27th, 2021} by New York Life Wealth Watch survey

    NEW YORK–(BUSINESS WIRE)–The latest New York Life Wealth Watch survey revealed a generational divide in long-term post-pandemic financial confidence between Millennials and Gen Xers when it comes to navigating short term budgets and achieving long-term financial goals. In general, Millennials are most concerned about post-pandemic budgets, but they express high levels of confidence in their […]

    New York Life’s Impact Investment Initiative Commits $50 million to IMPACT Community Capital in support of affordable housing preservation

    {July 27th, 2021} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest1 and most admired2 mutual life insurer, today announced a $50 million investment to support the preservation of affordable housing rental properties throughout the United States via an equity investment with IMPACT Community Capital. This is the latest investment by New York Life’s $1 billion impact investment initiative announced in April […]

    Empower Retirement to Acquire Full-Service Retirement Business of Prudential Financial, Inc.

    {July 27th, 2021} by Empowe Retirement and Prudential Financial, Inc.

    GREENWOOD VILLAGE, Colo. & NEWARK, N.J.–(BUSINESS WIRE)–Empower Retirement and Prudential Financial, Inc. (NYSE: PRU) today announced they have entered into a definitive agreement for Empower to acquire Prudential’s full-service retirement business. The acquisition will add significant expertise, a broader set of capabilities and an expanded product portfolio to Empower’s existing business and drive additional scale […]

    AM Best Comments on Credit Ratings of Great-West Lifeco Inc. and Its Subsidiaries Following Announced Acquisition of Prudential’s Retirement Business

    {July 27th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Credit Ratings (ratings) of Great-West Lifeco Inc. (Lifeco) and its subsidiaries remain unchanged following the July 21, 2021 announcement that its U.S. subsidiary, Empower Retirement (legally known as Great West Life & Annuity Insurance Company) has reached a definitive agreement to acquire Prudential Financial, Inc.’s (Prudential) full-service retirement […]

    Aspida Life Re Ltd. Appoints Jon Steffen as President

    {July 27th, 2021} by Aspida Life Re Ltd.

    HAMILTON, Bermuda–(BUSINESS WIRE)–Aspida Life Re Ltd. (“Aspida Re”), a reinsurance company and subsidiary of Aspida Holdings Ltd. (together with its subsidiaries, “Aspida”), today announced that Jon Steffen has joined Aspida Re as President. As previously announced, Aspida Re was launched in December 2020 following the acquisition of F&G Reinsurance Ltd. by Aspida, which is backed […]

    Ameriprise Financial Reports Second Quarter 2021 Results

    {July 27th, 2021} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP):       Earnings Per Diluted Share   Return on Equity, ex AOCI (1)   Q2 2021     Q2 2021 GAAP $4.88   GAAP 19.5% Adjusted Operating $5.27   Adjusted Operating 37.5%           Second quarter adjusted operating earnings per diluted share was $5.27. Adjusted operating […]

    AM Best Places Credit Ratings of Prudential Retirement Insurance and Annuity Company Under Review With Positive Implications

    {July 27th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with positive implications the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of Prudential Retirement Insurance and Annuity Company (PRIAC), headquartered in Newark, NJ. PRIAC’s Credit Ratings (ratings) were placed under review with positive implications following the announcement that Empower Retirement […]

    Insurtech Leader Ethos Raises $100 Million from SoftBank Vision Fund 2

    {July 27th, 2021} by Ethos

    SAN FRANCISCO, July 21, 2021 /PRNewswire/ — Just two short months after announcing a $200 million Series D round that took its valuation to $2 billion, Ethos, the insurtech leader that’s transforming the life insurance space, has raised an additional $100 million in capital. The new investment from SoftBank Vision Fund 2 brings Ethos’ valuation to $2.7 billion and total funds raised to $400 million. SoftBank […]

    Great Place to Work® and Fortune recognize Haven Life with dual honors, naming it as one of the Best Workplaces in New York and for Millennials

    {July 27th, 2021} by Haven Life

    NEW YORK, July 21, 2021 /PRNewswire/ — Haven Life, the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is proud to announce two new employee culture awards from Great Place to Work and Fortune. Specifically, Haven Life is being honored as one of the Best Workplaces in New York™ and the Best Workplaces […]

    After a Year of Uncertainty the Value of Professional Financial Advice Goes Up

    {July 27th, 2021} by Northwestern Mutual

    MILWAUKEE, July 21, 2021 /PRNewswire/ — According to the latest findings from Northwestern Mutual’s 2021 Planning & Progress Study, U.S. adults aged 18+ say financial advisors are the most trusted source for financial advice. This represents a reversal from 2020 findings when people said they trusted themselves most. Americans’ most trusted sources of financial advice: 2020 2021 […]

    Life Insurance Direct Marketing Association (LIDMA) is Now Accepting 2021 Innovation Award Nomination Applications

    {July 27th, 2021} by LIDMA

    ATLANTA, July 21, 2021 /PRNewswire/ —  The Life Insurance Direct Marketing Association (LIDMA) is now accepting nomination applications from life insurance industry companies or individuals who seek to earn LIDMA’s prestigious 2021 “Innovation Award” for technological and procedural enhancements that are having positive outcomes within the life insurance direct marketing channel.  Selected Finalists will then be required to […]

    CUNA Mutual Group Launches ZoneChoice™ Registered Index-Linked Annuity

    {July 27th, 2021} by CUNA Mutual Group

    MADISON, Wis., July 22, 2021 /PRNewswire/ — CUNA Mutual Group, a leading insurance and financial services company, announced today the launch of the new ZoneChoice Annuity, a registered index-linked annuity, issued by MEMBERS Life Insurance Company. This new product will allow savers to personalize their investment strategy to meet their unique risk tolerance with the potential to […]

    ‘Annuity King’ Partner Takes Plea Deal; Florida Fraud Trial Expected In Fall

    {July 27th, 2021} by John Hilton

    Kenneth Murry Rossman, 63, formally accepted a plea deal this afternoon in a federal fraud case that includes co-defendant and prolific annuity seller Phillip Roy Wasserman. The self-described “Annuity King” in marketing materials, Wasserman, 64, maintains his innocence and is expected to go to trial in the fall in a Florida court. If convicted, he […]

    Start Me Up: Annuity Group To Sponsor Rolling Stones’ Tour

    {July 27th, 2021} by Staff Reports

    The annuity focused Alliance for Lifetime Income has again signed on as the sole sponsor of The Rolling Stones’ 2021 “No Filter” U.S. stadium tour. The band’s new tour is a rescheduled from 2020. It will start on Sept. 26 in St. Louis and will travel to Charlotte, NC, Pittsburgh, Nashville, New Orleans, Los Angeles, […]

    Colorado Law Bars Insurance Discrimination By Data

    {July 27th, 2021} by Steve Morelli

    Colorado has a new law prohibiting insurance companies from disproportionately harming people based on race, sex, sexual orientation or gender identity, although it does not directly bar the use of credit histories and other data in setting individual rates. The law tackles the issue of discrimination by proxy, when third-party data that is used to […]

    Pru selling retirement biz to Empower in $3.55 billion deal

    {July 27th, 2021} by Emile Hallez

    Empower Retirement has reached a deal to buy Prudential’s retirement plan business, the companies announced Wednesday. Click HERE to read the full story via InvestmentNews

    Will the unvaccinated still be able to get life insurance?

    {July 27th, 2021} by Megan Leonhardt

    The latest uptick in COVID cases has been dubbed the “pandemic of the unvaccinated,” with the average number of new cases over the last seven days up nearly 70% and hospitalizations up 36%. Yet, while some of those represent breakthrough cases, the vast majority of Americans falling sick or dying in this latest wave are […]

    Women’s Retirement Protection Act Reintroduced in Congress

    {July 27th, 2021} by John Manganaro

    U.S. Senator Patty Murray, a Democrat from Washington who is the current chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, and Representative Lauren Underwood, D-Illinois, have reintroduced the Women’s Retirement Protection Act of 2021 (WRPA). According to the lawmakers, the legislation aims to address the gender-based retirement savings gap and bolster women’s […]

    The 100 Best Annuities for Today’s Market

    {July 26th, 2021} by Karen Hube

    There are many ways in which 2021 feels like the complete opposite of 2020, and the annuities business is no different. After one of the most challenging years on record—during which annuity providers raised fees, scaled back benefits, and saw sales drop more than 9%—it’s as if a switch were flipped. Investors are pouring money […]

    Why Last Year’s Market Scare Fueled Sales of One Type of Annuity

    {July 20th, 2021} by Warren S. Hersch

    Sales of indexed annuities featuring “hybrid” indexes have climbed steadily higher, surpassing $8 billion at the close of the first quarter, a 17% rise from the same period in 2020, according to data from Wink’s Sales & Market Report. Click HERE to read the full story via Life Annuity Specialist

    Attention Producers: Feedback requested

    {July 20th, 2021} by Credit Suisse

    Please provide feedback on Credit Suisse’s 2Q21 life insurance producer survey with anyone you think would be interested. Results are shared with respondents, the report should provide valuable insights. https://www.surveymonkey.com/r/MVVX7YV

    Horace Mann to Acquire Madison National Life from IHC in $172.5 Million Transaction

    {July 20th, 2021} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today announced it has signed a definitive agreement to acquire Madison National Life Insurance Company, a subsidiary of Independence Holding Company (NYSE:IHC). Madison National is a leading writer of employer-paid and sponsored benefits provided to educators by K-12 school districts. The transaction is expected to close early in […]

    New Colorado Law Bans High-Tech Discrimination

    {July 20th, 2021} by Allison Bell

    Colorado state lawmakers are trying to make robots and computers behave themselves. They recently passed SB 169, a bill that prohibits insurers from using algorithms, external data sources and predictive modeling systems in ways that appear, from the perspective of the lawmakers, to discriminate against people based on “race,  color,  national  or  ethnic  origin,  religion,  sex,  sexual […]

    9 Reasons Annuity Regulation Needs a Revamp

    {July 20th, 2021} by Harry Stout

    America’s retirement crisis is just starting to rear its ugly head. Realization is beginning to set in for consumers aged 55 and older that they have not saved enough to sustain their standard of living in retirement. In fact, with Peak 65 coming in 2024, many are lobbying Congress to substantially increase minimum Social Security […]

    Penn Mutual Introduces Protection Variable Universal Life

    {July 20th, 2021} by The Penn Mutual Life Insurance Co.

    HORSHAM, Pa., July 19, 2021 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, announces the introduction of Protection Variable Universal Life (PVUL), a permanent life insurance product providing guaranteed lifetime death benefit protection with the opportunity to build cash value through subaccount market growth potential. “This new PVUL product offers people […]

    Lincoln Financial Group Expands YourPath® Target Date Suite to Include Protected Lifetime Income

    {July 20th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced the launch of Lincoln PathBuilder IncomeSM powered by YourPath®, adding to its suite of in-plan protected income solutions that provide savers a monthly check for life, helping Americans ensure they won’t outlive their savings in retirement. This new product brings together the flexibility of YourPath risk-based target-date portfolios while building on the foundation […]

    Fact Or Fiction: Dispelling Employer Myths About Institutional Income Annuities

    {July 20th, 2021} by Roberta Rafaloff

    The COVID-19 pandemic may be waning in the U.S., but its lasting financial impacts are far from over. Just consider that according to MetLife’s research, nearly one-fifth (19%) of baby boomers have had to delay their retirement plans, with many (23%) indicating that the economic fallout from COVID-19 impacted their ability to save. This forced […]

    AIG Announces Strategic Partnership with Blackstone for its Life & Retirement Business and Sale to Blackstone of Certain Affordable Housing Assets

    {July 20th, 2021} by AIG

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) and Blackstone (NYSE: BX) today announced that they have reached a definitive agreement for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business for $2.2 billion in an all cash transaction. As part of this agreement, AIG also agreed to enter into a […]

    AM Best Affirms Credit Ratings of Guardian Life Insurance Company of America and Its Subsidiaries

    {July 20th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Guardian Life Insurance Company of America (Guardian Life) (New York, NY) and its core subsidiaries, Guardian Insurance & Annuity Company, Inc. (Wilmington, DE) and Berkshire Life Insurance Company of America (Pittsfield, […]

    Global Atlantic Announces $4.8 USD Billion Whole Life Reinsurance Deal

    {July 20th, 2021} by Global Atlantic Financial Group

    HAMILTON, Bermuda–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading U.S.-focused annuity, life insurance and reinsurance company, today announced the signing of a USD $4.8 billion reinsurance transaction between its Bermuda-based subsidiary Global Atlantic Assurance Limited and AXA China Region Insurance Company Limited and AXA China Region Insurance Company (Bermuda) Limited (“AXA HK”). This is […]

    Aspida Completes Acquisition of U.S. Based Insurance Platform

    {July 20th, 2021} by Aspida Holdings Ltd.

    DURHAM, N.C.–(BUSINESS WIRE)–Aspida Holdings Ltd. (“Aspida”), an indirect subsidiary of Ares Management Corporation (“Ares”) (NYSE: ARES), announced today that it has closed on the acquisition of Global Bankers Insurance Group, LLC, a U.S. based insurance service provider and operations company (the “Company”). The acquisition is pursuant to the regulatory and court approved settlement agreement related […]

    Allianz Life Celebrates 125th Anniversary with $125,000 Matching Donation to Keystone Community Services

    {July 20th, 2021} by Allianz

    MINNEAPOLIS–(BUSINESS WIRE)–In honor of their 125th anniversary, Allianz Life Insurance Company of North America (Allianz Life) today announced a $125,000 matching donation to Midway-area food shelf provider Keystone Community Services. This matching gift will be used to renovate and equip a new 20,000 square-foot Community Food Site in St. Paul’s Midway neighborhood that will help Keystone bring […]

    Lincoln Financial Securities Announces Partnership With AIMCOR EIG

    {July 20th, 2021} by Lincoln Financial

    PHILADELPHIA–(BUSINESS WIRE)–Lincoln Financial Securities (LFS), a division of Lincoln Financial Network, the retail wealth management affiliate of Lincoln Financial Group (NYSE:LNC), today announced a new partnership with AIMCOR EIG, a leading B2B insurance platform. The LFS and AIMCOR EIG relationship is a best-in-class partnership with the mission to provide financial professionals and their clients with […]

    AIG-Blackstone Deal A Power Move For Both, Analyst Says

    {July 20th, 2021} by John Hilton

    Wednesday’s blockbuster AIG-Blackstone deal is likely to power up both companies in their respective worlds of insurance and private equity, according to a leading industry analyst. The stakes in this marriage of convenience are fairly obvious, said Charles “Chip” Roame, managing partner of Tiburon Strategic Advisors. AIG gains “substantial capital,” Roame said, “likely to buy […]

    NAIC Committee Passes Annuity Sales FAQs

    {July 20th, 2021} by John Hilton

    A key state insurance regulator group adopted a list of FAQs today in an effort to persuade more states to adopt new annuity sales rules. The Life Insurance and Annuities Committee, a group within the National Association of Insurance Commissioners, adopted the FAQs with little comment. A working group spent much of the past year […]

    Attention Insurers

    {July 20th, 2021} by Jamie Johnson

    Did you know that insurers participate in all of Wink’s competitive intelligence services for free? From receiving survey results, complimentary reports, to accessing marketable statistics, eligibility for additional subscription benefits, and more;  are there any quid pro quo services that you are missing out on?  Make sure that your products aren’t left in the dust. […]

    Why Term Insurance Is The Answer … Sometimes

    {July 20th, 2021} by Jason DeMeo

    Let’s say you have a client who is in the peak of earnings potential, and you have discussed life insurance with them. You have determined how  much insurance the client needs and how long the client should keep it. You have settled upon a term insurance policy to cover the current value of their future […]

    Your Clients Are Likely Underestimating Their Lifespan By 5 Years

    {July 20th, 2021} by Steven A. Morelli

    If advisors and clients are looking at the average American lifespan as a yardstick for their retirement planning, they are most likely going to need a bigger stick. That’s because Americans are underestimating their longevity by five years on average, according to a Capital Group blog post. The underestimate owes much to the way people […]

    1,200 holes of golf to benefit Folds of Honor: Steve Kerns

    {July 20th, 2021} by Steve Kerns

    My name is Steve Kerns, and I’m playing a 100-hole golf marathon one day every month this year to benefit Folds of Honor. Join me on Instagram, Facebook and LinkedIn for information about each marathon, including updates from the course. Learn more about Folds of Honor and its mission to provide educational scholarships to the […]

    Rescuing baby boomers’ retirements

    {July 20th, 2021} by Laurence Kotlikoff

    Close to 80 million baby boomers have retired or will shortly and many, if not most, are woefully ill-prepared for what may be more years spent out of work than spent at work.  Click HERE to read the full story via InvestmentNews

    The latest in financial #AdviserTech — July 2021

    {July 20th, 2021} by Michael Kitces and Kyle Van Pelt

    This month’s edition kicks off with the big news that SmartAsset has achieved unicorn status with a $1 billion-plus valuation, driven primarily by its pivot to using its consumer financial media content as a lead generation channel for financial advisers, which has quickly grown to generate $1.5 billion a month in new asset flows for […]

    Indexed annuity purchasers are not investors

    {July 20th, 2021} by Sheryl J. Moore

    Gentle reminder- PEOPLE WHO PURCHASE INDEXED ANNUITIES ARE NOT CALLED “INVESTORS.” This is life insurance, folks; not an investment.   -sjm

    Aspida acquisitions lays groundwork for launch of life and annuity platform

    {July 19th, 2021} by Charlie Wood

    Aspida Holdings, an indirect subsidiary of Ares Management Corporation, has finalised its acquisition of US based insurer Global Bankers Insurance Group. \The acquisition will see Global Bankers rebranded as Aspida Financial and will provide a team of over 100 insurance industry professionals and an infrastructure and technology platform Aspida believes will enable the expansion of […]

    Transgender People Face Challenges in Getting Life Insurance, but It’s Getting Easier

    {July 19th, 2021} by Martha C. White

    That life insurance is hard to get for transgender people probably shouldn’t be a surprise, given the long-time importance of applicants’ birth sex to insurers’ coverage decisions. But Americans are increasingly able to get coverage regardless of their gender identity, provided they have the patience to navigate the process. “The industry, as a whole, is evolving […]

    iPipeline Teams with Symetra to Insure Term Life Customers in Minutes

    {July 19th, 2021} by iPipeline

    EXTON, Pa.–(BUSINESS WIRE)–iPipeline® — a leading provider of no-code/low-code content-based digital solutions for the life insurance and financial services industry, has partnered with Symetra Life Insurance Company to innovate the new business acquisition process for Symetra’s new, fully automated SwiftTermSM term life insurance product. The comprehensive solution modernizes the agent and client experience using a drop ticket […]

    Long Reach of Regulators Seen in Shrinking Penalty Periods on Annuities

    {July 13th, 2021} by Cyril Tuohy

    In the first quarter of 2016, slightly more than 10% of fixed-indexed annuity sales were of products that had periods of at least 14 years, according to data from market research firm Wink. Click HERE to read the full story via INN. 

    Jackson’s Perspective II Continues to Dominate Individual Sales, Report Says

    {July 13th, 2021} by Cyril Tuohy

    The contract has been the best-selling single deferred annuity product for nine consecutive quarters, according to Wink’s Sales & Market Report. Deferred annuities include variable, structured, indexed, one-year fixed and multi-year guaranteed annuities, Wink reported. First quarter sales for all deferred annuities rose 10.3% over the year-ago period, Wink said. Click HERE to read the full […]

    Wink, Inc. Releases First Quarter, 2021 Life Sales Results

    {July 13th, 2021} by Press Release

       — FOR IMMEDIATE DISTRIBUTION —  NEWS RELEASE   UNIVERSAL LIFE SALES HIT ALL TIME LOW Wink, Inc. Releases First Quarter, 2021 Life Sales Results Des Moines, Iowa. July 8th, 2021– Wink, Inc. released the first quarter, 2021 life sales results in its 95th edition of Wink’s Sales & Market Report. Wink’s Sales & Market […]


    {July 13th, 2021} by Sheryl J. Moore

    Non-Variable UL Sales for the first quarter of 2021 were $649 million, compared with sales of $770 million for the first quarter of 2020. First quarter non-variable life sales were down more than 12% when compared to the previous quarter and down nearly 16% as compared to the same period last year.   Total 1Q21 […]

    Integrity Continues to Expand Platform by Adding Innovative IMO The Leazer Group

    {July 13th, 2021} by Integrity Marketing Group, LLC

    DALLAS, July 7, 2021 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced it has entered into an agreement to acquire The Leazer Group, a rapidly growing independent marketing organization (IMO) headquartered in Raleigh, North Carolina. As part of the acquisition, Art Leazer, CEO of The Leazer Group, will become a Managing […]

    The Actuarial Foundation Announces $50,000 Donation from F&G to Support Education and Training for Underserved Schools in Iowa

    {July 13th, 2021} by The Actuarial Foundation

    SCHAUMBURG, Ill., July 12, 2021 /PRNewswire/ — The Actuarial Foundation today announced that F&G, a leading provider of annuities and life insurance, has made a $50,000 pledge to its Modeling the Future Challenge high school math modeling competition, supporting the expansion of the program to Title 1 schools nationwide. This generous contribution from F&G will increase access to […]

    Best’s Review Interviews Guardian Life’s CEO Andrew McMahon on Re-Articulating Business Practices

    {July 13th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Best’s Review interviews Guardian Life Insurance Company of America’s new chief executive officer, Andrew McMahon, who wants his company to spend the next year rearticulating business practices at all levels. McMahon shares his three prime goals: stimulate expansion in a low-growth environment; take all the positives the company has and roll them into a […]

    Equitable Names Hector H. Martinez Head of Life Insurance

    {July 13th, 2021} by Equitable

    NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today named Hector Martinez as Head of its Life Insurance business. Martinez will report to Nick Lane, President of Equitable, and will become a member of the company’s Operating Committee. In this role, Martinez will oversee business strategy and management of […]

    AM Best Affirms Credit Ratings of Farm Bureau Life Insurance Company

    {July 13th, 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 Rating (Long-Term ICR) of “a+” (Excellent) of Farm Bureau Life Insurance Company (FBL). Concurrently, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) of FBL Financial Group, Inc. (FBL Financial) [NYSE: FFG], the holding company of FBL. […]

    Athene and Apollo to Buy 15% Stake in Australia’s Top Annuity Issue

    {July 13th, 2021} by Allison Bell

      Athene and the investment company, Apollo Global Management Inc., say they have agreed to pay $540 million for a 15% stake in Challenger Ltd., a firm that sells annuities and investment management services in Australia. Challenger is a Sydney-based company that was founded in 1985. It now has the equivalent of about $15 billion […]

    Premium Financing: An Option For Disappointed Life Insurance Policyholders

    {July 13th, 2021} by Michael Seltzer

    A decades-long period of falling interest rates has created a challenging environment for most life insurance companies to meet the expectations of their longtime policyholders. Insurers who find they cannot achieve the projected targeted investment returns on these policy blocks are forced to reduce dividend rates, impairing policy performance. For instance, in the whole life […]

    KC law firms help win $90M settlement from USAA

    {July 13th, 2021} by Jessica Corso

    Two Kansas City law firms lead the way in winning a settlement with the San Antonio-based bank over a class-action lawsuit that accused it of inflating rates on life insurance policies. Click HERE to read the full story via KC Business Journal

    State Fiduciary and Best Interest Developments: Texas, Virginia and Montana

    {July 13th, 2021} by Bruce Ashton and Stephen Pennartz

    Texas, Virginia and Montana are the latest states to enact legislation or rules setting forth a best interest standard for annuity producers in recommending annuities to their customers.  Each state has designed its rule to follow the NAIC’s model regulation concerning suitability in annuity transactions, which requires producers to act in the consumer’s best interest […]

    Hot annuity sales signal shift in aging investors’ risk appetite

    {July 13th, 2021} by Lynnley Browning

    Are annuities getting a new lease on their polarizing image? The complicated insurance products have long been divisive as an investment strategy. Proponents argue they can safely beef up an aging worker’s retirement portfolio and provide reliable income in later decades. Critics call them a bad investment that’s aggressively marketed by commission-hungry advisors and cheesy […]

    Pershing Expands Annuity Menu: Annuity Distribution

    {July 13th, 2021} by Allison Bell

    Pershing LLC is trying to do more to help financial professionals offer annuities to their clients. The Bank of New York Mellon Corp. unit recently announced that it’s offering more fee-based annuities, and more annuity-related support services, for registered investment advisors. Pershing has increased the number of fee-based annuity issuers on its core menu to […]

    Maine Adopts Annuity Best Interest Regulation

    {July 13th, 2021} by Allison Bell

    State adoption of annuity best interest rules based on a suitability model update developed by the National Association of Insurance Commissioners may be accelerating. Maine recently became the 15th state to move to the NAIC’s model, when the Maine Bureau of Insurance adopted a regulation based on the model update. The list of other states […]

    American Life Makes an Annuity Reinsurance Deal

    {July 13th, 2021} by Allison Bell

    A company that hopes to build a big annuity business has a new reinsurance deal. Midwest Holding Inc. says its American Life & Security Corp. subsidiary will be passing some of the annuity risk it assumes on to American Republic Insurance Co. American Republic is a subsidiary of American Enterprise Group Inc. American Republic has […]

    Ellevest offers life insurance to customers through Policygenius online marketplace

    {July 13th, 2021} by Policygenius

    Policygenius, America’s leading online insurance marketplace, has announced partnering with Ellevest, a financial company built by women, for women, to offer life insurance fulfillment to Ellevest customers through the Policygenius online marketplace. Policygenius has helped more than 30 mn people shop for insurance and is one of the largest term life insurance platforms in the […]

    Universal Life Insurance Isn’t the Investment You Think it Is. Here’s What to Do Instead

    {July 13th, 2021} by Erin Gobler

    If you have dependents, life insurance should be part of your overall financial plan. It provides financial support to your family if you pass away and gives you peace of mind that your loved ones will be cared for. But what about when you’re still alive? Universal life insurance is often sold as a combination […]

    John Hancock Launches 14th Annual MLK Scholars Program, the Nation’s Largest Corporate Summer Jobs Program of its Kind Advancing Employment & Financial Capability

    {July 13th, 2021} by John Hancock

    BOSTON, July 6, 2021 /PRNewswire/ – Today, John Hancock, the US division of Toronto-based Manulife (NYSE: MFC), announced the launch of its 14th annual MLK Scholars Program. The most comprehensive corporate summer jobs program of its kind in the country, MLK Scholars provides summer employment and digital financial capability through EVERFI, a leading education technology company for digital learning, for more […]

    Recent sales of indexed universal life and variable universal life insurance outpaced those of universal life insurance according to annual Milliman survey

    {July 13th, 2021} by Millman

    SEATTLE, July 8, 2021 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 14th annual Milliman study of universal life (UL), indexed universal life (IUL), and variable universal life (VUL) issues. The study is based on a survey of 28 UL/IUL/VUL companies and focuses on current topics relative to a range […]

    Confronting Underfunded Universal Life

    {July 13th, 2021} by Robin S. Weinberger and Peter N. Katz

    The current extended period of historically low interest rates has left many universal life policies in deep trouble. No one foresaw the current low interest rate environment and so universal life policies without secondary guarantees, that were funded based on prevailing interest rates at the time of purchase, are now drastically underfunded. Further compounding the […]

    Universal Life Insurance Sales Plummet in Q1

    {July 13th, 2021} by Michael S. Fischer

    Life insurance sales continued their downward trend in the first quarter, affected by market volatility combined with persistent low interest rates, according to Wink’s sales and market report, released this week. Total non-variable universal life sales for the first quarter finished at $649.9 million, down 12.2% from the previous quarter and down 15.6% from the […]

    Don’t Automatically Annuitize an Annuity—Shop Around

    {July 13th, 2021} by Retirement Daily Guest Contributor

    If you’ve saved up a lot of money in an annuity, you’re in a fine position for a financially secure retirement. Once you are retired, what’s the best way to get your money out of your annuity? All cash-value-type annuities, whether fixed-rate, fixed-indexed or variable, are tax-deferred until you take money out. If you’ve owned […]

    Voices: Diverse staff, diverse clients: Our 20-year multifamily office journey

    {July 13th, 2021} by Palash S. Islam, Renee Schroder, Shannon Irwin, Chelsea Hodl

    While many financial planning firms struggle with diversity, our RIA has found it to be a hidden strength. Based in Silicon Valley, Synergy Financial Group is owned by its CEO, the son of immigrants from Bangladesh. Its employees over the past 20 years — currently comprising a CFP, a client relationship manager and a paraplanner […]

    Lacking Pensions, Gen X Turning to Annuities

    {July 13th, 2021} by Brian Anderson

    A signficant majority (71%) of all younger investors have interest in purchasing annuities as part of their overall retirement income plan according to a new study released today. The first installment of the Protected Retirement Income and Planning Study, a joint research effort with both investors and financial professionals, finds investors eager for financial protection amid […]

    EquiTrust Recognized Among “Ward’s 50” of Top Life and Health Insurance Companies for 2021!

    {July 13th, 2021} by EquiTrust

    For 31 years, the Ward Group has analyzed the financial performance of over 700 US-based life and health insurance companies. To be among the Ward’s 50, each company must pass all safety and consistency screens, and have achieved superior performance over the five years analyzed.   EquiTrust Life Insurance Company earned this prestigious recognition for […]

    New Study Finds a 13% Increase in Average Retirement Savings Year Over Year, Up to $98,800

    {July 13th, 2021} by Elizabeth Gravier

    Over a year since the pandemic put millions out of work and and onto government aid, Americans’ finances are reportedly bouncing back. More than half of Americans say they’re in financial recovery mode, according to Northwestern Mutual’s latest 2021 Planning & Progress Study that surveyed 2,000-plus American adults in March 2021. The annual study found […]

    Haven Life Introduces A Newly Priced Haven Term, Making It More Affordable For Families To Help Financially Protect Their Loved Ones

    {July 13th, 2021} by Haven Life

    NEW YORK, June 30, 2021 /PRNewswire/ — Haven Life, the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is today unveiling new pricing for the medically underwritten term product, Haven Term, that makes it even more affordable for you to financially protect your loved ones. With an online application process that […]

    Schwab 401(k) Survey Shows Sharp Increase in Confidence and Demand for Financial Advice

    {July 13th, 2021} by Schwab Retirement Plan Services

    WESTLAKE, Texas–(BUSINESS WIRE)–Workers’ confidence about achieving retirement goals has risen sharply since last year according to a new survey from Schwab Retirement Plan Services, and so has their appetite for financial advice. The annual nationwide survey of 401(k) plan participants finds that more than half (53%) say they are very likely to achieve their retirement […]

    Wirehouse Wealth Management Firms Struggle To Keep Advisors Satisfied

    {July 13th, 2021} by J.D. Power

    Despite the massive, industry-wide disruption caused by the COVID-19 pandemic, booming financial markets and significant gains in production have boosted overall financial advisor satisfaction this year. But not all advisors are feeling the warm glow of support from their firm. “Advisor satisfaction is directly linked to retention and brand advocacy, so firms that want to […]

    Leading Independent Insurance Marketing Organization Introduces New Parent Brand, North American Insurance Services, and Promotes New Vice Presidents to its Sales Executive Leadership Team.

    {July 13th, 2021} by North American Insurance Services

    FRISCO, Texas, July 2, 2021 /PRNewswire/ — North American Insurance Services is the new parent company of North American Life Plans, North American Health Plans, and North American Advisors. The new corporate brand incorporates almost 15 years of experience and expertise in the insurance industry from its founder and Chairman of the Board, Eugene Woznicki and its President, Andy Dastur, CLU, […]

    3 Proven Ways To Engage With Clients About Annuities

    {July 12th, 2021} by Brendan Connerton

    It’s always good time to look at the current annuity industry landscape, and what financial professionals are considering for their clients. Here are three established methods that can help generate leads to build on. Also worth considering are the asset-based linked benefit long-term care products, to potentially weave into a “while-you’re-at-it” combo sales on repositioning […]

    Hall of Fame, Fall of Shame: Marshall Faulk Loves Planning With Insurance

    {July 12th, 2021} by John Hilton

    It is a regular feature of being a rookie in the National Football League that at some point during training camp, the veterans will gather at an upscale establishment to eat a mountain of food — with the rookie getting the bill. In one famous example, Dallas Cowboys rookie wide receiver Dez Bryant was stuck […]

    Gen X Investors Want to Hear About Annuities: Survey

    {July 12th, 2021} by Allison Bell

    Generation X members and young baby boomers with big nest eggs may be much more interested in hearing about annuities than older investors are, according to new survey data. One problem: At this point, the number of Gen X investors with big nest eggs seems to be low. Click HERE to read the full story […]

    Top 10 best- selling products each quarter!

    {July 6th, 2021} by Wink's Intel Pros

    Wink publishes the Top 10 best-selling annuities and life insurance each quarter within Wink’s Sales & Market Report.  The Top 10 products are shown per each product type and per each distribution channel!  Wink’s Sales & Market Report is published quarterly and covers sales and industry trends on annuities (multi-year guaranteed, traditional fixed, indexed, structured, […]

    The State of Annuities: Webinar Recording

    {July 6th, 2021} by InsuranceNewsNet

    A look at how annuities are evolving from a year of disorder. Sheryl Moore, President and CEO of Moore Market Intelligence, will discuss the latest trends and data from the annuity marketplace, providing answers to important advisor questions such as: How sales are being impacted due to current market trends? How sales continue to migrate […]

    Global Atlantic Announces $8.0 Billion Reinsurance Deal With Ameriprise Financial

    {July 6th, 2021} by Global Atlantic Financial Group

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading U.S.-focused annuity, life insurance and reinsurance company, today announced the signing of an $8.0 billion annuity reinsurance transaction between two of its insurance subsidiaries (Commonwealth Annuity and Life Insurance Company and First Allmerica Financial Life Insurance Company) and Ameriprise Financial (“Ameriprise”) insurance subsidiaries (RiverSource Life […]

    American National Announces Two New Indices and Strategies to ASIA Plus 7 & 10

    {July 6th, 2021} by American National Group, Inc.

    GALVESTON, Texas, July 01, 2021 (GLOBE NEWSWIRE) — American National is enhancing and expanding its industry leading Strategy Indexed Annuity PLUS flexible premium products. In addition to the current crediting strategies based on the S&P 500 index; ASIA PLUS 7 & 10 will now offer two new index crediting strategies. These new strategies include a […]

    5 Questions Agents Are Asking About the Principal News

    {July 6th, 2021} by Allison Bell

    Principal Financial Group Inc. is now preparing to go down the same road that many other competitors have taken: It’s getting ready to end sales of retail individual fixed annuities and retail individual life insurance policies, and to tilt more firmly toward the sale of variable products. The announcement will have no effect on policies, […]

    5 FIA Myths Busted

    {July 6th, 2021} by Chris Grady

    Education plays a key role in building a sustainable retirement income plan, but myths and misconceptions can get in the way, particularly when considering an annuity as a retirement savings vehicle. A recent Secure Retirement Institute study revealed that Americans are largely confused about how to turn workplace savings into a guaranteed income stream. Only […]

    Why Annuities Work Like a ‘License to Spend’ in Retirement

    {July 6th, 2021} by David Blanchett & Michael Finke

    Workers in the defined contribution era generally retire with a lump sum of assets. As fewer workers retire with a pension, the percentage of retirement income funded through guaranteed income is likely to continue declining as well. The implications of this change on retirees is unclear. There is evidence from previous studies that many spend […]

    Confronting Underfunded Universal Life

    {July 6th, 2021} by Robin S. Weinberger and Peter N. Katz

    The current extended period of historically low interest rates has left many universal life policies in deep trouble. No one foresaw the current low interest rate environment and so universal life policies without secondary guarantees, that were funded based on prevailing interest rates at the time of purchase, are now drastically underfunded. Further compounding the […]

    An Insider’s Take on the ‘Bermuda Triangle’ Strategy

    {July 6th, 2021} by Kerry Pechter

    The Fed’s low-interest rate policy over the past decade has pinched the oxygen supply of US life/annuity companies, especially publicly held firms. Low bond yields have squeezed their profit margins and forced them out of old lines of business and into new ones. Click HERE to read the full story via RIJ

    ‘Double Down or Get Out’

    {July 6th, 2021} by Kerry Pechter

    If you haven’t done so already, t’s time to consider how the low interest rate environment has transformed the life/annuity business over the past ten years. And to assess the roles that reinsurers and big buyout firms continue to play in that transformation. This week, Principal Financial became the latest life/annuity company to announce that […]

    Principal Financial shrinks its exposure to retail annuities

    {July 6th, 2021} by Editorial Staff

    The company said it ‘will fully exit US retail fixed annuities— discontinuing new sales of its deferred annuities, payout annuities, indexed annuities—and will pursue strategic alternatives, including divestiture, of the related in-force blocks.’ Under pressure from a large shareholder to change its “business mix and capital management options” to become more profitable, Principal Financial Group […]

    Virginia, Alabama, Adopt Amended Annuity Sales Rules

    {July 6th, 2021} by Staff Reports

    Virginia and Alabama became the latest pair of states to adopt updated annuity sales rules based on a National Association of Insurance Commissioners’ model regulation. They become the 13th and 14th states to adopt the new standard, which basically applies a “best interest” update to existing annuity suitability rules. Adopted in February, the NAIC model […]

    AIG Releases First Environmental, Social and Governance Report

    {July 6th, 2021} by AIG

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today released its first Environmental, Social and Governance (ESG) Report detailing the company’s strategic progress toward supporting a more sustainable, equitable and prosperous future for its stakeholders. “AIG’s commitment to transparent ESG leadership is a central part of our global corporate citizenship agenda,” said Peter Zaffino, AIG’s […]

    How Today’s Annuities Serve The Needs Of Tomorrow’s Retirees

    {July 6th, 2021} by Brendan Connerton

    Things appear to be moving slowly back toward the “old normal.” With all we’ve been through andhave seen in the past two years, it is not too surprising consumer interest in fixed and fixed index annuities has grown. The marketplace is paying close attention to two key retiree and preretiree concerns frequently mentioned by clients […]

    Global Insurance Risks Start With The Good, Bad And Ugly Of Big Data

    {July 6th, 2021} by John Hilton

    DES MOINES, Iowa — Coming out of the COVID-19 pandemic is presenting a crossroads of sorts for insurers: continue with aggressive integration of digital and big data usage? Or retreat to a conservative, risk-averse mindset? That dilemma of sorts provided gist for much of the debate this morning at the Global Insurance Symposium.   Click HERE […]

    Ameritas Rolls Out Survivor Index Universal Life Policy: Life Moves

    {July 6th, 2021} by Allison Bell

    Ameritas is introducing a life insurance policy that comes with benefits guarantees. The Lincoln, Nebraska-based insurer has unveiled a new survivor indexed universal life (IUL) policy. A survivorship life insurance policy covers two or more people. It pays benefits after the death of a specified insured. The new Ameritas Value Plus Survivor Index Universal Life […]

    John Hancock Wins 15 2021 Stevie® Awards American Business Awards®

    {July 6th, 2021} by John Hancock

    Honored with Six Gold Stevie® Awards for Achievement in Management, Internal Communications PR Campaign of the Year, Community Engagement PR Campaign of the Year, PR Executive of the Year and Support Team of the Year TSX/NYSE/PSE: MFC SEHK: 945 BOSTON, July 1, 2021 /PRNewswire/ – John Hancock was honored with fifteen Stevie® Awards in the 19th American Business Awards®, […]

    Best’s Special Report: Insurance Companies Remain Prime Targets for Private Equity

    {July 6th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–The private equity industry has significantly increased its exposure in the life/annuity (L/A) insurance industry over the last decade, with private equity-owned or sponsored insurers’ admitted assets growing to $604.1 billion in 2020 from $67.4 billion in 2011, according to a new AM Best report. A new Best’s Special Report, “Insurance Companies Remain Prime Targets for […]

    What Clients, and Advisors, Misunderstand About Annuities: Advisors’ Advice

    {July 6th, 2021} by Ben Mattlin

    When it comes to annuities, the financial community is divided. Some love them, others hate them. Part of that division comes from the fact that annuities can be complicated — and are often misunderstood. So we asked a variety of advisors what they think is most misunderstood about annuities. Not surprisingly, their answers are wide-ranging. […]

    Ameriprise Financial Announces $8.0 Billion Fixed Annuity Reinsurance Transaction with Global Atlantic

    {July 6th, 2021} by Ameriprise Financial, Inc.

    INNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP) (“the company”) announced today that its insurance subsidiaries, RiverSource Life Insurance Company (“RiverSource Life”) and RiverSource Life Insurance Co. of New York (“RiverSource Life of New York” and together with RiverSource Life, “RiverSource”), have entered into an agreement with Global Atlantic Financial Group’s subsidiaries Commonwealth Annuity and Life Insurance […]

    A DOL Fiduciary Rule and PTE Refresher

    {July 6th, 2021} by John Manganaro

    Even as experts anticipate further regulatory activity will affect the Department of Labor (DOL)’s fiduciary investment advice standards, it is important to get caught up on the current state of affairs, which can best be described as convoluted. Effective February 16 of this year, the DOL implemented an expanded definition of “fiduciary advice.” Experts say […]

    Confessions Of A Born-Again Life Insurance Agent

    {July 6th, 2021} by Barry J. Fisher

    Readers of this publication are generally familiar with my ruminations on topics related to long term care planning and insurance. Being type-cast as a long term care insurance “guy” is understandable. Nearly 70 percent of my time in the insurance industry has been spent as a marketer, brokerage general agent, trainer, and consultant with a […]

    Life And Annuity Inforce Policy Service Innovations

    {July 6th, 2021} by Ken Leibow

    There have been many recent technology advancements in life insurance and annuity policy owner service processing. Back in the day the agent or the policy owner had to call a life carrier’s toll-free phone number to speak to a customer service representative who would then mail forms to the policy owner to complete and mail […]

    2021 Milliman Long Term Care Insurance Survey

    {July 6th, 2021} by Claude Thau, Allen Schmitz, FSA, MAAA and Chris Giese, FSA, MAAA

    The 2021 Milliman Long Term Care Insurance Survey is the 23rd consecutive annual review of stand-alone long-term care insurance (LTCI) published by Broker World magazine. It analyzes the marketplace, reports sales distributions, and describes available products. More discussion of worksite sales, including a comparison of worksite sales distributions vs. non-worksite sales distributions will be in […]

    New Law to Boost Life Policy Savings Power: Carrier Executives

    {July 5th, 2021} by Allison Bell

     A new federal tax law update could help high-income clients use cash-value life insurance to ease some of the sting of future tax increases. Life insurance company executives talked about the changes  last week, in a series of conversations with Patrick Bowen that were part of the NAILBA Engage online conference.. Bowen is co-founder of InsurAware, an […]

    Investment Only Annuities Supporting Clients Maximizing Clients’ Investment Only Annuities

    {July 5th, 2021} by The Business Copywriters

    SACRAMENTO, CALIFORNIA, UNITED STATES, July 4, 2021 /EINPresswire.com/ — Investment Only Annuities is pleased to announce it is helping to support clients in cutting costs and reducing the complexity of their investment only annuities. Investment Only Annuities offers investment only annuities that are low in cost, yet high in value, such as Nationwide’s flat-fee variable annuity Monument […]

    Individual life insurance sales grow at rapid clip in Q1

    {July 5th, 2021} by Rozelle Alyssa JavierKris Elaine Figuracion

    Increased consumer awareness about life insurance amid the COVID-19 pandemic may have played a key role in boosting sales in the first quarter of 2021, as the industry recorded the largest increase in total life premiums in a first quarter since at least 2018. The life insurance market logged $48.93 billion in total life premiums […]

    Producers Beware: More States Adopt NAIC Annuity Suitability Framework

    {July 5th, 2021} by John Manganaro

    The Alabama Department of Insurance has finalized key revisions to the state’s Insurance Regulation No. 137, which sets forth conflict of interest mitigation requirements concerning the suitability of the sale of annuities. The revisions make the Alabama suitability regulation substantially similar to the most recent revisions of the Suitability in Annuity Transactions Model Regulation developed […]

    Millennial RIAs Aim to Disrupt Industry with ‘Modern’ Approach

    {July 5th, 2021} by Sam Del Rowe

    Hamilton Capital Partners’ founders — both under 30 years old — are counting on their youth, “modern” ideas and candor to help their new advisory practice make strides, especially among small business owners. Founders and managing partners Alonso Munoz, 27 and Blake Fortune, 29, registered their Atlanta-based advisory firm with the Securities and Exchange Commission […]

    Frequency of Withdrawal Commencement from VA-GLWB Contracts

    {July 1st, 2021} by Editorial Staff

    Source Ruark Consulting, June 28, 2021. Click HERE to view