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Archive for August 2021


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  • Congratulations Sheryl Moore!

    {August 31st, 2021} by Wink's Intel Pros

    Wink’s CEO, Sheryl Moore has been presented with a Thought Leadership & Education award for the first LUMINARIES recognition program from ThinkAdvisor. 

    Are we fools for a catchy acronym?

    {August 31st, 2021} by Sheryl J. Moore

    Remember when the U.S. Securities and Exchange Commission issued that Investor Bulletin on structured annuities, but called them “indexed annuities?” IT IS FOR THIS REASON THAT I HAVE ALWAYS SUGGESTED WE NOT REFER TO STRUCTURED ANNUITIES AS ANYTHING REMOTELY RELATED TO INDEXED ANNUITIES. PLEASE do not call them “Registered Index-Linked Annuities” or “RILAs,” folks. The regulators don’t […]

    LUMINARIES Class of 2021: Thought Leadership — People

    {August 31st, 2021} by contributions from Jeff Berman, Michael S. Fischer, Emily Holbrook, Janet Levaux, Bernice Napach, Ginger Szala and Melanie Waddell

    We’re pleased to present the first Thought Leadership & Education winners of our new, pioneering recognition program: the LUMINARIES. Members of the Class of 2021 are being honored for the dynamic efforts they lead that are driving the financial services industry forward. “Why are we doing what we’re doing? Why are we doing it that […]

    If Brokers Drop Commission-Paying Annuities, This May Be Big Issue

    {August 31st, 2021} by Warren S. Hersch

    Wink CEO Sheryl Moore identified a big lack of product choices. There are, she noted, just 98 fee-based deferred annuities from 34 companies. She added that, as of the first quarter of this year, only 2.28% of the $58.1 billion in deferred annuity sales was attributable to fee-based products. “Insurance companies are not going to exert any effort […]

    As Covid cancels industry events, advisers weigh attending what’s left

    {August 31st, 2021} by Jeff Benjamin

    The daily ebb and flow of the status of the Covid-19 pandemic, accompanied by rolling debates over the efficacy of the vaccines, has left many of the financial services industry’s road warriors in holding patterns as they wait to see which events are still on the schedule and which might not be worth the risk. […]

    Prudential makes $200M commitment to diversity, equity and inclusion through private equity investments

    {August 31st, 2021} by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) has made a $200 million commitment through the Prudential DEI Portfolio to private equity investments constructed with a diversity, equity and inclusion (DEI) lens. Investments will focus on limited partner stakes with substantial ownership and/or management by women and minorities, particularly those raising capital for first or second […]

    FA Says Ameriprise Ahead In Social Media Marketing. This Might Be Why.

    {August 31st, 2021} by Andrew Kessel

    When 17-year UBS Financial Services veteran financial advisor Marc Gendell moved to Ameriprise Financial in June, his new affiliation’s social media marketing was among its biggest draws. Gendell, who has been in the industry since 1998, said earlier this month that “Ameriprise is ahead of the curve” in this regard and he “started getting new […]

    Best’s Special Report: First-Half 2021 Net Income Soars in U.S. Life/Annuity Insurance Industry

    {August 30th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Net income for U.S. life/annuity (L/A) insurance industry soared in the first half of 2021 on reduced expenses, rising to $18 billion from $1 billion in the same prior-year period, according to a new AM Best report. This financial review is detailed in a new Best’s Special Report, titled, “First Look: Six-Month 2021 Life/Annuity Financial Results,” and […]

    Lincoln Financial Group Announces Executive Leadership Succession

    {August 30th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced that Dennis R. Glass, president and CEO, will transition roles following the 2022 Annual Meeting of Shareholders planned for next May, becoming the chairman of the board. Ellen G. Cooper, currently executive vice president, chief investment officer, head of Enterprise Risk and the Annuity Solutions group, […]

    Ash Brokerage, Ameritas and SCOR Reveal New Instant Decision Term Life Product

    {August 30th, 2021} by Ash Brokerage

    FORT WAYNE, Ind., Aug. 24, 2021 /PRNewswire/ — Ash Brokerage, Ameritas and SCOR announce a new next-generation term life insurance product, Ash Instant term issued by Ameritas Life Insurance Corp. This innovative digital product is available to Ash advisors through the Ash Term Express platform. Together, the product and platform are transforming the life insurance landscape. “It’s not enough to keep […]

    Northwestern Mutual Study Finds Americans’ Personal Debt Has Dropped More than 20% Over the Last Two Years

    {August 30th, 2021} by Northwestern Mutual

    MILWAUKEE, Aug. 25, 2021 /PRNewswire/ — The latest findings from Northwestern Mutual’s 2021 Planning & Progress Study show that among U.S. adults aged 18+ who carry debt, they hold an average of $23,325 excluding mortgages. This represents a downward trend of over 20% since 2019. Average Amount of Debt Per Year (exclusive of mortgages): 2019 $29,800 2020 $26,621 2021 $23,325 […]

    5 Lessons on Investment Indexes Used by Insurers, Other Firms

    {August 30th, 2021} by Allison Bell

    Laurence Black has started The Index Standard, a company that could help bring order and quality ratings to the world’s rapidly growing list of investment indexes. Black has been working in the index world since 2003, when he was head of thematic research and indexes at a business that’s now part of ABN AMRO. While […]

    Annuities make it easier for retirees to spend, research finds

    {August 30th, 2021} by Kate Dore

    With fewer employer pensions these days, some retirees are hesitant to draw down their nest eggs. However, older Americans may spend more freely with a guaranteed source of income, such as Social Security or a private annuity. That’s according to a research paper that examines spending in retirement. The report compared retirees with a life-long […]

    Darryl Button Named President and CEO of Pacific Life

    {August 30th, 2021} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life Insurance Company announced today that Darryl Button has been named CEO-Elect and will become president and CEO of Pacific Life, succeeding Chairman, President and CEO Jim Morris, on April 1, 2022, upon Mr. Morris’ retirement. Mr. Button, currently the company’s chief financial officer, will be only the 15th chief executive in […]

    Conning is Pleased to Announce its Newest Focus Series- “The New Annuity (Re)insurer Landscape”

    {August 30th, 2021} by Conning

    HARTFORD, Conn., Aug. 24, 2021 /PRNewswire/ — The entire annuity competitive landscape is undergoing a seismic restructuring. Over the past ten years, new entrants have sought to gain access to annuity insurers and their substantial assets by establishing new reinsurance platforms. At the same time, many annuity insurers have sought to reposition within or exit the annuity […]

    Lincoln Financial Group Adds New Globally Diversified Index to Flagship Fixed Indexed Annuity to Help Address Inflation and Market Volatility

    {August 30th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) is expanding its flagship fixed indexed annuity product, Lincoln OptiBlend®, to include the BlackRock Dynamic Allocation Index. The index’s global allocation provides investors with greater diversification in their portfolios, as well as daily volatility controls to help mitigate risk. This is particularly important to today’s savers – nearly 50% […]

    Transamerica Launches New Retirement Plan Exchange Featuring UBS Retirement Plan Manager

    {August 30th, 2021} by Transamerica

    BALTIMORE, Aug. 23, 2021 /PRNewswire/ — Transamerica announced today that the company launched a new Retirement Plan Exchange® featuring the UBS Retirement Plan Manager program. The Exchange is available solely through UBS Financial Advisors. UBS Retirement Plan Manager (RPM) is an advisory program that offers discretionary investment management, with UBS acting as an investment manager under ERISA Section 3(38). In addition, TAG […]

    AM Best Places Credit Ratings of Guggenheim Life and Annuity Company Under Review With Developing Implications

    {August 30th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with developing implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Guggenheim Life and Annuity Company (GLAC) (Wilmington, DE). The Credit Rating (rating) actions reflect GLAC’s decline in surplus and weakening in its risk-adjusted capital position during the first half […]

    How to Use Insurance Products for Tax-Sheltered Growth

    {August 30th, 2021} by Robert Powell

    Annuities are often viewed as a way to manage the risk of longevity, of outliving your money. But insurance products such as annuities have other benefits. Such products can provide tax-advantaged investment returns, says Michael Finke, professor of wealth management and Frank M. Engle Chair of Economic Security Research at the American College of Financial […]

    New York Life to Promote App Aimed at Bereaved Families

    {August 30th, 2021} by Allison Bell

    New York Life is putting its marketing clout behind a mobile device app that can help families cope with the loss of a loved one. The insurer has started offering beneficiaries the Empathy app, from Empathy Project, a company that aims to support grieving families. Empathy estimates that grieving families typically spend an average of about […]

    When does it make sense for a trust to own your life insurance policy?

    {August 30th, 2021} by https://www.chase.com/personal/investments/learning-and-insights/article/when-does-it-make-sense-for-a-trust-to-own-your-life-insurance-policy

    Estate planners and insurance professionals often recommend that people create a separate trust to own life insurance policies. Whether a life insurance trust makes sense for you depends on your goals and a number of other factors. Why own life insurance in a trust?  If you own a life insurance policy, you probably know that […]

    Insurance Labor Study Indicates Continued Growth Amid a Difficult Recruiting Market

    {August 30th, 2021} by The Jacobson Group

    CHICAGO–(BUSINESS WIRE)–The latest iteration of the Semi-Annual U.S. Insurance Labor Outlook Study, conducted in part by The Jacobson Group, the leading provider of talent to the insurance industry, found 93% of respondents plan to increase or maintain their headcounts in the next 12 months. “We’re seeing a lot of movement within the insurance industry, as professionals […]

    Research Roundup

    {August 30th, 2021} by Kerry Pechter

    In this month’s edition of Research Roundup, we summarize four academic papers touching on topics ranging from behavioral finance to macroeconomics, and from an informed prediction about the future path of interest rates to speculation about the introduction of a Federal Reserve-sponsored digital currency. If you believe that wealthy buy less insurance because they can […]

    Not All Annuity Issuers Are Alike

    {August 30th, 2021} by Kerry Pechter

    When fee-based advisers who’ve dealt only with investments decide to become “ambidextrous,” they can be forgiven for not instantly knowing every nuance about insurance products and life insurance companies. “Ambidextrous” is RIJ’s adjective for advisers who use investments and annuities to maximize clients’ income and peace of mind in retirement. Click HERE to read the full story […]

    FP Rising Stars: Planners of the Future

    {August 30th, 2021} by Julie Coleman, Jessica Lerner

    We’re delighted to announce the winners of a new award: Financial Planning’s 2021 Rising Stars. This list celebrates 10 early-career financial planners who embody the values of the profession and are on a trajectory to make a difference in the field. Selected from among nominees across the country, the winners are both young advisors and career-switchers. […]

    Financial advisor vs. planner: what’s the difference?

    {August 30th, 2021} by Lily Wolfson

    Over time, the financial services industry has blurred the line between the terms financial “advisor” and “planner,” often at the expense of the client’s experience. A financial planner can be — broadly — defined as someone who sits down with a client and does lifelong financial planning. Financial advisor is a more general term. An […]

    US Dividends Jump 5.2% in Q2

    {August 30th, 2021} by Janus Henderson

    DENVER–(BUSINESS WIRE)–Despite some notable exceptions, the majority of US companies continued paying their dividends without interruption during the first year of the pandemic, leading to a smaller rebound in the second quarter of 2021 relative to other countries. US dividends rose 5.2% during the quarter on an underlying basis according to the latest edition of […]

    These Six Fast-Growing Small Annuity Issuers May Be Your Next Rivals

    {August 30th, 2021} by Warren S. Hersch

    Wink reported in April of last year that Upstream Life had the most competitive rates for multi-year guaranteed annuities, with term periods as long as 15 years for its Secure Foundation and Secure Legacy products. Click HERE to read the full story via Life Annuity Specialist

    Things they won’t tell you

    {August 24th, 2021} by Sheryl J. Moore

    I have viewed myself as an educator on life insurance and annuity products for well into two decades. That said, I’ve not been as vocal about some things as I maybe should. Let this article be a first step in righting those wrongs.   Who can you trust in the indexed annuity sale?   Yourself. […]


    {August 24th, 2021} by Sheryl J. Moore

    When the 10-year Treasury declines, the complexity of annuities increases. -sjm

    COVID-19 Drove Insurance Sales In Past Year, MDRT Survey Showed

    {August 24th, 2021} by Susan Rupe

    The COVID-19 pandemic was one of the biggest drivers – if not the biggest driver – of the insurance market in the last year and a half. That’s the word from a recent survey taken on behalf of the Million Dollar Round Table. The survey revealed that 42% of Americans who acquired new insurance policies since March […]

    Why Beneficiary Support Must Be Top Of Mind For Life Insurance Providers

    {August 24th, 2021} by Donna Jermer

    Armed with increasingly sophisticated technological tools, customers in the life insurance sector can now access more data than ever before. As technology continues to advance, life insurance policyholders can be selective when it comes to their providers. That means providers must earn the trust of their policyholders. They can do this by charging their marketing and communications […]

    10 tips for clients on National Financial Awareness Day

    {August 24th, 2021} by Brittney Grimes

    The celebration of Financial Awareness Day this past weekend makes it an excellent time to remind your clients of the importance of achieving financial stability and independence.  Click HERE to read the full story via InvestmentNews

    AIG Life & Retirement Names 2 New Presidents

    {August 24th, 2021} by Michael S. Fischer

    AIG Life & Retirement this week announced the promotions of Bryan Pinsky to president of individual retirement and Tim Heslin to president of U.S. life insurance. Pinsky and Heslin assumed their positions Monday, and both will continue to report to Todd Solash, chief executive of individual retirement and life insurance at AIG Life & Retirement. […]

    DOL’s Lifetime Income Annuity Interim Rule Is Flawed, ERISA Lawyers Say

    {August 24th, 2021} by Melanie Waddell

    The retirement planning community is anxiously awaiting a final rule from the Labor Department on the delivery of lifetime income illustrations on plan participants’ benefit statements, as the interim rule that takes effect in September is flawed because the illustrations are confusing, according to ERISA lawyers from Faegre Drinker. The interim rule implements Section 203 […]

    Northwestern Mutual Sponsors Next Generation of Diverse Childhood Cancer Researchers

    {August 24th, 2021} by Northwestern Mutual

    MILWAUKEE, Aug. 18, 2021 /PRNewswire/ — Although it’s the leading cause of death for children under 19, according to the National Cancer Institute, childhood cancer research only receives 4% of funding from the federal cancer budget. Northwestern Mutual, through its Foundation, is advancing the search for better treatments and cures for pediatric cancer and supporting the next generation of diverse researchers […]

    FIG Announces Leader for Advanced Strategies Division

    {August 24th, 2021} by Financial Independence Group

    CORNELIUS, N.C., Aug. 11, 2021 /PRNewswire/ — Financial Independence Group, LLC (FIG), a leading financial services conglomerate working with independent financial advisors and insurance companies, specializing in annuities, long-term care, and life insurance products, is pleased to announce Jeremy Green will lead its Advanced Strategies division as Director. FIG’s Advanced Strategies division was created to assist financial professionals with the […]

    Deloitte 2021 Global Blockchain Survey: Global Financial Services Industry Undergoing Seismic Shift; Banks Must Embrace Inevitable Digital Future

    {August 24th, 2021} by Deloitte

    NEW YORK, Aug. 19, 2021 /PRNewswire/ — As COVID-19 and the proliferation of digital everything profoundly changed how the world operates, Deloitte’s fourth annual “Global Blockchain Survey” finds that the financial services industry (FSI) must accelerate toward product modernization and distribution to achieve economic growth. In fact, 73% of respondents fear their organizations will lose competitive advantage if […]

    The Annuity That Lets You Change Your Mind

    {August 24th, 2021} by William Baldwin

    Most lifetime annuities are irrevocable. But three months ago a Canadian company, Purpose Investments, began offering the Purpose Longevity Pension Fund, a lifetime annuity with an exit door. You can put your money in now, start collecting a monthly income, and then change your mind later, retrieving what’s left of your principal. Yikes. Doesn’t a […]

    Lincoln Financial settles age discrimination claim with former recruiter

    {August 24th, 2021} by Bruce Kelly

    Lincoln Financial Group, parent to the independent broker-dealer Lincoln Financial Network, and a former recruiter settled an age discrimination claim that alleged the recruiter, Louis Hanna, was fired in October 2017 for “poor performance.” Click HERE to read the full story via InvestmentNews

    ‘Guaranteed income’ preferred over ‘annuities’

    {August 24th, 2021} by Emile Hallez

    Annuities have existed as a concept for thousands of years, but they aren’t used very often by today’s retirees — and part of that has to do with their name. Click HERE to read the full story via InvestmentNews       Wink’s Note: You know- I see these “survey results” and “research findings” about once a […]

    Morningstar On Why Annuities Still Struggle To Gain Wide Acceptance

    {August 24th, 2021} by Tracey Longo

    Studies have shown that Americans can benefit from guaranteed income products (GIPs) in their retirement portfolios, but they are faced with a maze of complex product choices from an industry with regulatory and legal challenges. In a new report, entitled “Are There Enough Annuities?” Morningstar laid out the challenges the industry faces in trying to […]

    Connecticut Passes ‘Best Interest’ Rule for Annuities

    {August 24th, 2021} by Patrick Donachie

    Connecticut passed a rule this week governing the recommendation and sales of annuity products within the state in a move that the American Council for Life Insurers (ACLI) called a “huge victory for consumers.” In doing so, Connecticut became the 16th to state to pass regulation or legislation based on a model rule by the […]

    MassMutual Consumer Spending & Saving Index: Americans Experiencing the Financial Impacts of FOMO Are Spending $765 More Per Month Than This Time Last Year

    {August 24th, 2021} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–With summer in full swing, Americans are increasing their spending from last summer and preparing for new financial realities according to new research from Massachusetts Mutual Life Insurance Company (MassMutual). Experiencing financial impacts from the rise in social gatherings and re-openings, Americans are spending an average of $765 more per month compared to […]

    Best’s Special Report: Publicly Traded U.S. Life/Annuity Companies Reduced Leverage, Improved Liquidity in 2020

    {August 24th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–The prolonged low interest rate environment has allowed publicly traded life/annuity (L/A) insurers to strengthen their balance sheets by replacing higher-cost debt with often significantly lower-cost alternatives, according to a new AM Best special report. The Best’s Special Report, titled, “Publicly Traded L/A Insurers Reduced Leverage, Improved Liquidity in 2020,” states that the aggregate unadjusted total […]

    Allianz Life’s Annuity Products Now Supported on Morningstar® Retirement Manager℠

    {August 24th, 2021} by Allianz Life

    MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life) announced today that it has teamed up with Morningstar Investment Management LLC to help individuals allocate their retirement savings to its annuity products through the Morningstar Retirement Manager service. The Allianz Lifetime Income+ Annuity with the Lifetime Income Benefit will be the first Allianz Life […]

    AIG Names Bryan Pinsky President of Individual Retirement and Tim Heslin President of US Life Insurance

    {August 24th, 2021} by AIG

    NEW YORK–(BUSINESS WIRE)–Aug. 16, 2021– AIG Life & Retirement, a division of American International Group, Inc. (NYSE: AIG), today announced that Bryan Pinsky has been named President, Individual Retirement and Tim Heslin has been named President, US Life Insurance. “Bryan and Tim are exceptional leaders and innovators, and their strategic insight and product expertise will drive our businesses to continue to deliver the very […]

    The Regulation of Annuities

    {August 24th, 2021} by Susan Rupe

    A look at how regulators are reclaiming oversight of annuity sales. Bruce Ashton, partner, Employee Benefits and Executive Compensation Practice Group at Faerge Drinker Biddle & Reath, discusses the latest news on the state and federal regulation of annuities, including: How the Biden administration will approach redefining “fiduciary” Whether the industry can again win in […]

    Meet the LUMINARIES Class of 2021

    {August 17th, 2021} by Janet Levaux

    We’re pleased to present the first winners of our new, pioneering recognition program:  the LUMINARIES. The program’s Class of 2021 members are being honored for the dynamic and inclusive ways they are driving the wealth, investment and retirement industry forward. An evolution of our Broker-Dealers of the Year awards, the LUMINARIES program shines a spotlight […]

    Legacy Marketing Group Announces Launch of JourneyMark Fixed Indexed Annuity; First Joint FIA with Western & Southern Financial Group

    {August 17th, 2021} by Legacy Marketing Group

    PETALUMA, CA, August 16, 2021—Legacy Marketing Group® (Legacy) today announced the launch of JourneyMarkSM, its first joint fixed indexed annuity with Western & Southern Financial Group (Western & Southern). Issued by Western & Southern member company Integrity Life Insurance Company (Integrity Life), an “A+ (Superior)” rated carrier* with a Comdex ranking of 96 out of 100,** JourneyMark […]

    Jackson Introduces New Retirement Investment Annuity

    {August 17th, 2021} by Jackson National Life Insurance Company

    NASHVILLE, Tenn.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced the launch of Jackson Retirement Investment AnnuitySM (JRIA), a fee-based variable annuity designed for independent registered investment advisors (IRIAs) to specifically address their annuity concerns. JRIA offers consumers the opportunity to grow their assets tax-deferred1 while generating protected income and preserving their legacy. “Through our research and direct feedback […]

    Six major life insurers report second quarter financials

    {August 17th, 2021} by Editorial Staff

    A half-dozen life/annuity insurance companies—AIG, American Equity, Brighthouse Financial, Equitable, Lincoln Financial, MetLife released their second quarter 2021 earnings reports this week. The reports reflect a variety of ongoing trends: Year-over-year increases in individual annuity sales, continuing stock repurchase plans, a shift toward higher-yielding investments in private or alternative assets, alliances with asset managers that […]

    Holy cow.

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

    Did you know that more than 40.84% of all indexed annuity sales are through insurance companies with private equity backing? That number has increased from a low of 6.14% in 1Q2011, and a high of 43.85% in 4Q2020.    -sjm

    Cheese and rice.

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

    I have been reading about a lot of folks using annuities in really bad ways as of late… – Raiding clients’ annuities for their own personal use; – Issuing fake annuities, robbing Peter to Pay Paul, and plundering the money; – Yadda, yadda, yadda. Do me a favor folks- go use some other type of […]

    Give Yourself a Pay Raise in Retirement

    {August 17th, 2021} by Geoffrey Johnson

    Because inflation erodes purchasing power, it’s painful for just about everyone. But it can be especially challenging if you’re a retiree whose budget is based on a fixed income. Remember: Retirees can’t count on getting pay raises the way those who are still working typically can. In retirement, you’re creating your own “paycheck” — usually […]

    DPL and SS&C Start Exchange for Commission-Free Insurance Products.

    {August 17th, 2021} by Allison Bell

    DPL Financial Partners has joined with SS&C Technologies to launch an exchange for no-commission insurance products. The new SS&C Advent Insurance Marketplace Powered by DPL exchange offers annuities, life insurance and disability insurance products. The list of participating insurers includes Allianz Life, Great American Security Benefit and Midland National. Click HERE to read the full story via ThinkAdvisor

    U.S. Life Application Activity Faces Tougher 2020 Comparisons: MIB

    {August 17th, 2021} by Allison Bell

    MIB Group’s U.S. individual life insurance application activity figures for July look bad because July 2020 was a good month for life application activity. MIB talks about that problem in its latest life application activity update. MIB is a Braintree, Massachusetts-based company that helps life insurers share some of the information used in life insurance underwriting. […]

    How Millennials Are Changing the Life Insurance Game

    {August 17th, 2021} by Salene Hitchcock-Gear, President of Prudential Individual Life Insurance

    There’s nothing more impactful than the loss of someone close to you to shine a light on the need for life insurance. And this past year, most of us have experienced some sense of loss, collectively if not personally, through the grief and suffering brought on by the global pandemic. Many of us who never […]

    Why Annuities Are Better Than Equities

    {August 17th, 2021} by INNsider Pro

    If you’re saving for retirement, it’s advised that you focus on assets that drive portfolio growth. And, two of the best opinions that will achieve this goal are variable annuities and stocks. Q2 2021 hedge fund letters, conferences and more Both vehicles offer growth potential. Click HERE to read the full story via INN

    Insurance Journal New York Insurance, Finance Regulator Lacewell to Resign

    {August 17th, 2021} by Katherine Chiglinsky

    New York’s top financial regulator, Linda Lacewell, is planning to step down as the state grapples with fallout from Governor Andrew Cuomo’s resignation. Lacewell, the state’s superintendent of financial services, will resign effective Aug. 24, she said in a memo to colleagues Friday. She will also resign from the Metropolitan Transportation Authority’s board on the […]

    LUMINARIES Profiles: Coming Soon

    {August 17th, 2021} by Janet Levaux

    We’ll be showcasing profiles of our esteemed judges, finalists in our new awards program and other VIPs who are driving the industry forward as part of our year-long coverage plan.  Click HERE for Profiles via ThinkAdvisor       ThinkAdvisor’s LUMINARIES celebrates top advisors and industry executives, as well as their programs, projects and services, […]

    FINRA Bars Ex-New York Life, Pru Rep Over Forged Annuity Forms

    {August 17th, 2021} by Jeff Berman

    The Financial Industry Regulatory Authority has barred a former NYLIFE Securities and Pruco Securities rep who allegedly forged annuity applications and then provided “false and misleading testimony to FINRA staff” while it was investigating her termination from the New York Life division, according to FINRA. NYLIFE Securities and Pruco Securities are units of New York […]

    4 Ways Financial Planning Is Different for LGBTQ+ People

    {August 17th, 2021} by David Treece

    The movement towards greater equality for the LGBTQ+ community, especially in areas related to marriage, family and employment, has broadened the discussion over financial services geared towards this segment. As LGBTQ+ individuals age and make decisions about their future and their finances, they have unique considerations to take into account. These often differ from other […]

    Americans Saving for Retirement Much Earlier Than Previous Generations

    {August 17th, 2021} by Alex Padalka

    Most American workers have had to make financial adjustments in the wake of the Covid-19 pandemic, but the majority managed to keep on track saving for retirement, according to a new report. Forty-three percent of employees surveyed late last year experienced one or more negative impacts on their employment in the wake of the pandemic, […]

    Jefferson National to Pay $150K Penalty Over Annuity Sales

    {August 17th, 2021} by Melanie Waddell

    California Insurance Commissioner Ricardo Lara has levied a $150,000 penalty against Jefferson National Life Insurance Company for creating an annuity sales process that lacked consumer safeguards. Lara also ordered the life insurer to repay $14,000 to an 86-year-old consumer who purchased an annuity she didn’t understand. Nationwide acquired Jefferson National in 2017. Click HERE to […]

    The Day the Gold Standard Died: 50 Years On

    {August 16th, 2021} by Kerry Pechter

    The “gold standard” died 50 years ago this week. I witnessed the execution, in a sense, and I’ve spent a fair amount of time since then trying to understand what happened, why, and how well it explains today’s economy.      The date was August 16, 1971. The scene was a provincial bank in France. […]

    Term Or Permanent Life Insurance In Retirement?

    {August 16th, 2021} by The Beacon News

    Think you won’t qualify for life insurance in retirement? Guess again. “It’s easier to qualify than in the past as underwriting has gotten better,” says Rafael Rubio, president of Stable Retirement Planners in Huntingdon Woods, Michigan. The policies don’t come cheap, and just because you qualify for life insurance doesn’t mean you should get it. […]

    EIS Positioned as a Leader in the 2021 Gartner® Magic Quadrant™ for Life Insurance Policy Administration Systems, North America™

    {August 16th, 2021} by EIS

    SAN FRANCISCO–(BUSINESS WIRE)–EIS, a core and digital platform provider for insurers, today announced that it has been named a Leader in the Gartner Magic Quadrant for Life Insurance Policy Administration Systems, North America*. The report evaluated EIS for Completeness of Vision and Ability to Execute in the life, annuity, and health market. This is the […]

    Principal completes integration of Wells Fargo Institutional Retirement business

    {August 16th, 2021} by Principal Financial Group

    August 11, 2021 Principal Financial Group®, a global leader in retirement plan services and investment management, recently completed the integration of the Wells Fargo Institutional Retirement business. Principal® acquired the Institutional Retirement and Trust business in July 2019 to enhance its retirement and income capabilities, achieve greater scale and balance, and drive business growth. Through the […]

    Adaptability Is Key: 5 Tips For Insurance Advisors

    {August 16th, 2021} by Mark Tattersall

    The reality of how our business has evolved to a predominantly digital one was accelerated by COVID-19. But regardless of what prompted this shift, it’s certainly here to stay. Although meeting with prospects over dinner, at their office or at the golf course still happens occasionally, those face-to-face interactions have been significantly reduced. And agents […]

    Icing on the Cake: The Tax Benefits of Annuities

    {August 16th, 2021} by Michael Finke

    Everyone knows that insurance products are designed to provide financial support if you experience an unexpected loss. Annuities are insurance products designed primarily to protect against the loss of outliving your savings in retirement, an increasingly common risk facing millions of Americans. To encourage consumers to protect themselves against this risk, annuities have tax benefits […]

    What’s Behind The Boom In Annuity Sales?

    {August 14th, 2021} by Ben Mattlin

    In the second quarter of 2021, annuity sales were off the charts. “Our preliminary second quarter numbers are the highest we have seen since the fourth quarter of 2008, and the third-highest quarter on record,” said Todd Giesing,  assistant vice president and head of annuity research at Windsor, Conn.-based Secure Retirement Institute (SRI). Click HERE […]

    The parallel paths of ETFs and annuities

    {August 14th, 2021} by David Lau

    If you’re a registered investment adviser currently deliberating about one of the most significant product evolutions in the industry today – the introduction of commission-free annuities – those are the questions dominating the conversation. Click HERE to read the full story via InvestmentNews

    Transition From LIBOR Will Impact Existing Annuity Contracts

    {August 13th, 2021} by John Hilton

    The phase-out of the London Interbank Offered Rate (LIBOR) is coming and is set to cause major disruption for insurers. LIBOR is the primary benchmark for short-term and variable interest rates used to determine interest rates on a variety of financial instruments. Those include not only investments held by insurers, but existing annuity contracts with […]

    LIMRA Sees A More Robust 2021 Life Insurance Sales Forecast

    {August 12th, 2021} by Staff Reports

    This week, LIMRA updated its sales forecast for U.S. retail life insurance sales for 2021. Since October 2020, when the original forecast was published, three COVID-19 vaccines were given emergency approval and distributed, two federal relief packages were passed and a last-minute change to life insurance tax law was implemented. Click HERE to read the […]

    Equitable, Prudential, Brighthouse Tout Gains in Buffered Annuity Sales

    {August 10th, 2021} by Warren S. Hersch

    “Structured annuities are the golden child of the annuity industry right now,” said Wink CEO Sheryl Moore. She added that sales of Structured Capital Strategies and other top sellers aligned with her expectations. She also noted that the New York-based Equitable was first to enter the market for the products and so has the benefit of experience. Click […]

    Personal Pension

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

    An annuity is nothing more than a personal pension. There. I said it. -sjm

    Athene Announces $4.9 Billion Pension Risk Transfer Transaction with Lockheed Martin

    {August 10th, 2021} by Athene Holding, Ltd.

    HAMILTON, Bermuda, Aug. 3, 2021 /PRNewswire/ — Athene Holding Ltd. (“Athene”) (NYSE: ATH), a leading financial services company specializing in retirement solutions, announced the close of a significant pension risk transfer (PRT) transaction with Lockheed Martin (NYSE: LMT), a global security and aerospace leader. Under the terms of the transaction, Lockheed Martin transferred $4.9 billion in pension obligations to Athene. Athene’s wholly-owned […]

    Genworth Financial Announces Second Quarter 2021 Results

    {August 10th, 2021} by Genworth Financial, Inc

    RICHMOND, Va., Aug. 3, 2021 /PRNewswire/ — Continued Progress On Company’s Strategic Objectives With Strong Second Quarter Earnings, Preparations For An Initial Public Offering (IPO) Of Minority Interest In Enact1 And Holding Company Debt Reduction Enact Adjusted Operating Income Of $135 Million From Favorable Loss Performance Driven By Lower New Delinquencies Enact’s PMIERs2 Sufficiency Ratio Estimated At 165 Percent, $1,941 Million Above Published […]

    Advisors Excel Places 92 in Top 100 Fortune List

    {August 10th, 2021} by Advisors Excel

    TOPEKA, Kan., Aug. 5, 2021 /PRNewswire/ — For the first time, Advisors Excel, a Topeka-based financial marketing organization, has appeared on Fortune Magazine’s Top 100 Best Small and Medium Workplaces for Millennials list at number 92. Advisors Excel is the only Kansas company to appear on the list. “We strive to create a vibrant work culture where our team members feel […]

    National Western Life Group, Inc. Announces 2021 Second Quarter Earnings

    {August 10th, 2021} by National Western Life Group, Inc.

    AUSTIN, Texas, Aug. 6, 2021 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today second quarter 2021 consolidated net earnings of $49.9 million, or $14.11 per diluted Class A common share, compared with consolidated net earnings of $48.4 million, or $13.69 per diluted Class A common share, for the second […]

    Simplicity Acquires Advisors Resource, LLC and Adds Industry Vets Tim Mastel, Dave Wohlwend, and Tom Burns as Partners

    {August 10th, 2021} by Simplicity Group

    SUMMIT, N.J., Aug. 9, 2021 /PRNewswire/ — Simplicity Group (“Simplicity”) today announced the acquisition of Minneapolis-based Advisors Resource, LLC (“Advisors Resource”), a leading provider of insurance, annuity and LTC products. Founded in 2006, Advisors Resource is the 26th distribution business to join Simplicity. As part of the transaction, Principal and Advisors Resource’s founder, Tim Mastel, Principal Dave Wohlwend, and Chief Growth […]

    Equitable Holdings Reports Second Quarter 2021 Results

    {August 10th, 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 second quarter ended June 30, 2021. “Equitable Holdings delivered another quarter of strong results, with non-GAAP operating earnings of $1.71 per share, a 74% increase year-over-year and up 27% over the first quarter. We continue to […]

    Lincoln Financial Group Reports Second Quarter 2021 Results

    {August 10th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the second quarter of 2021 of $642 million, or $3.34 per diluted share available to common stockholders, compared to a net loss in the second quarter of 2020 of $(94) million, or $(0.49) per diluted share available to common stockholders. Second quarter adjusted […]

    AIG Reports Second Quarter 2021 Financial Results

    {August 10th, 2021} by American International Group, Inc

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today reported financial results for the second quarter ended June 30, 2021. AIG President and CEO Peter Zaffino said: “We had another outstanding quarter with our businesses performing extremely well while we continue to make significant progress on strategic priorities and position AIG for sustainable profitable growth […]

    American Equity Reports Second Quarter 2021 Results

    {August 10th, 2021} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs) today reported second quarter 2021 non-GAAP operating income1 available to common stockholders of $93.8 million, or $0.98 per diluted common share, compared to non-GAAP operating income1 available to common stockholders of $93.1 million, or $1.01 per diluted […]

    Jackson Financial Announces Effectiveness of Form 10 Registration Statement

    {August 10th, 2021} by Jackson Financial Inc.

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (“Jackson”) today announced that its Registration Statement on Form 10 has been declared effective by the Securities and Exchange Commission (SEC). The Registration Statement on SEC Form 10 includes information regarding the business in connection with Jackson’s previously announced separation from Prudential plc (Prudential; NYSE: PUK), which will be effected through a demerger. […]

    Athene Takes Another Bite at Pensions Apple

    {August 10th, 2021} by Kerry Pechter

    In a pension risk transfer deal, Athene Holding will acquire about $4.9 bn in pension assets and liabilities from Lockheed Martin. But when do these deals become too much about investors and AUM and too little about pensioners?  Americans’ retirement savings, either in the form of individual annuity contracts or group annuities funded by defined […]

    BMO Insurance Adds New ESG Indexed Account Options for Universal Life Insurance Plans

    {August 10th, 2021} by BMO Financial Group

    TORONTO, Aug. 3, 2021 /CNW/ – BMO Insurance is now offering a suite of environmental, social and governance (ESG) investment options for its Universal Life Insurance policyholders. Recognizing the increased interest in responsible investing, BMO Insurance’s new ESG indexed accounts enable policyholders to align their investment preferences with their values and sustainability goals, while receiving the coverage and […]

    Delaware The 45th State To Join The Insurance Compact

    {August 10th, 2021} by John Hilton

    Gov. John C. Carney signed legislation last week making Delaware the 45th state, plus Puerto Rico and Washington D.C., to join the Interstate Insurance Product Regulation Compact. Created by the National Association of Insurance Commissioners in 2002, the compact reviews and approves (or disapproves) individual and group annuity, life insurance, disability income, and long-term care […]

    American National Group to Be Sold to Brookfield Reinsurance Arm

    {August 10th, 2021} by Miriam Gottfried and Cara Lombardo

    The reinsurance arm of Brookfield Asset Management Inc. BAM 0.60% has agreed to buy American National Group Inc. for about $5 billion, the companies said. As part of the deal, American National stockholders will receive $190 a share in cash. That represents a roughly 10% premium to the company’s closing price Friday of $172.80. The […]

    Brookfield reinsurance unit to buy American National for $5.1 billion

    {August 10th, 2021} by Reuters

    (Reuters) -Brookfield Asset Management Inc’s reinsurance unit has agreed to buy insurer American National Group Inc for about $5.1 billion in an all-cash deal, the companies said on Monday. Started in 1905 by William Lewis Moody Jr., American National is majority-owned by the founder’s family, which controls the company through a range of trusts and […]

    SBLI Acquires LegacyShield

    {August 10th, 2021} by SBLI

    WOBURN, Mass.–(BUSINESS WIRE)–SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) announces that it has acquired LegacyShield®, a state-of-the-art, integrated, consumer-centric platform that helps people store, organize and share all of life’s most important information when their loved ones need it most. Included in the acquisition is Link by LegacyShield, a dynamic B2B platform […]

    Prudential Financial beats estimates on life, annuity strength

    {August 10th, 2021} by Reuters

    Aug 3 (Reuters) – Prudential Financial Inc (PRU.N) beat analysts’ estimates for quarterly adjusted profit on Tuesday, as strong performance at the U.S. insurer’s life and annuity units cushioned against weakness in its investment business. PGIM, Prudential’s global investment management business, reported a 2.8% fall in adjusted operating income to $315 million in the second quarter ended […]

    Prudential Scores Winning 2Q With FlexGuard

    {August 10th, 2021} by Steven A. Morelli

    Prudential had another blazing quarter largely due to booming sales in its registered index-linked annuity along with equity markets and inflows boosting account values, which offset a dip in its investment business. Prudential’s U.S. businesses reported adjusted operating income more than doubled to $1.09 billion for the second quarter over the $455 million in the […]

    Spenders Into Savers: The Great American Shift

    {August 10th, 2021} by Steve Morelli

    Although Americans may be known globally as ravenous consumers, they are more likely to call themselves savers, a title they earned over the pandemic, according to some reports. The Federal Reserve confirmed in its latest report that Americans are saving buckets of cash since the start of the pandemic, often related to federal stimulus infusions. […]

    Andrew Taylor, Founder of Family First Life USA, whose overall influence is taking the industry by storm!

    {August 10th, 2021} by Mark Beasley

    Family First Life USA which is often called FFL USA is one of the largest insurance marketing organizations (IMOs) in the United States focused on life insurance and annuity markets. Andrew Taylor, founded Family First Life USA back in the year 2014 when he realized he wants to live his life with a different life […]

    Retirement Plan Annuitization Options Have a Track Record

    {August 10th, 2021} by Ben Lewis

    After the challenges of 2020, Americans are thinking more urgently about their financial security. While last year turned out to be a strong year for markets, it certainly didn’t look that way in March, as major indices experienced the fastest-ever decline into bear market territory. The challenge and economic turbulence of 2020 was unsettling for […]

    One Of The Best IULs You’ve Probably Never Heard Of

    {August 10th, 2021} by Brian Manderscheid

    With all of the recent government tax and spending proposals, some of which may be signed into law in some form or another, the concept of tax advantaged growth and supplemental tax-free retirement income from a properly structured indexed universal life is certainly continuing to gain steam. Of course, coming out of a major pandemic, […]

    Best Annuities: Delaware Life’s Accelerator Prime Variable Annuity & Pinnacle Fixed Annuities Top Rated in Barron’s 100 Annuities List

    {August 10th, 2021} by Delaware Life

    WALTHAM, Mass., Aug. 5, 2021 /PRNewswire/ — Delaware Life’s new Accelerator PrimeSM variable annuity and its Pinnacle multi-year guaranteed annuities topped key categories in Barron’s 2021, “The 100 Best Annuities for Today’s Market” list. The Accelerator Prime with Income ControlSM and Income BoostSM riders were both top rated in the “Best Minimum Guaranteed Income for Life” category. The Income Control℠ Guaranteed Lifetime Withdrawal Benefit […]

    Broker Words—August 2021

    {August 10th, 2021} by Stephen Howard

    I’ve always been a bit curious about why a bulk of the promotion of and materials for Life Insurance Awareness Month, for agent and carrier use, come out later in August or early in September. And many articles and columns addressing it come out primarily in September as well. I think I’ve actually been guilty […]

    Avantax boosts advisory assets while dropping low producers

    {August 10th, 2021} by Tobias Salinger

    The largest tax professional-focused wealth manager is offering different ways to affiliate and moving closer toward a majority of its client assets being in advisory accounts. Midsize independent broker-dealer Avantax keeps losing financial advisors from its headcount, but more than three-quarters of the 145 who left the firm in the second quarter had $50,000 or […]

    Lawmakers want to make it easier to have guaranteed income in retirement

    {August 10th, 2021} by Sarah O'Brien

    One type of annuity may be poised to get a bit of a makeover. Under bipartisan retirement legislation pending in both the House and Senate, the rules applying to qualified longevity annuity contracts, or QLACs, would be changed. Although the two chambers’ provisions differ somewhat, both would remove the 25% cap on how much of […]

    U.K. Pru Schedules Jackson Split for Sept. 13

    {August 10th, 2021} by Allison Bell

    The leading issuer of individual variable annuities in the United States could become a stand-alone company next month. Prudential P.L.C., the London-based parent of Jackson Financial, announced today that its shareholders will vote Aug. 27 on a proposal to split from Jackson. If the shareholders approve the deal, then Prudential will demerge from Jackson by […]

    Insurance for HNWIs Market May Set New Growth Story | Sun Life, SwissLife, GSRP, New York Life

    {August 10th, 2021} by Craig

    The Global Insurance for HNWIs Market Report assesses developments relevant to the insurance industry and identifies key risks and vulnerabilities for the Insurance for HNWIs Industry to make stakeholders aware with current and future scenarios. To derive complete assessment and market estimates a wide list of Insurers, aggregators, agency were considered in the coverage; Some of […]

    Lincoln Gains Traction In 2Q With Indexed Variable Annuities

    {August 10th, 2021} by Steve Morelli

    Lincoln Financial’s shift to registered index-linked annuities and other variable annuity products showed greater traction in the second quarter. The company announced a record-setting increase in income driven primarily by a 28% increase in annuity sales over the second quarter of 2020. The increase offset a drop in fixed annuity and life insurance sales over […]

    Annuities Help Boost AIG To 2Q Surprise

    {August 10th, 2021} by Steve Morelli

    The American International Group reported a strong second quarter for its life and retirement group as it plans to spin off that division into its own entity with Blackstone as a minority owner in an initial public offering in the first quarter of 2022. AIG’s life and retirement unit saw pretax income of $1.1 billion, […]

    Ex-Barclays Quant Wants to Clean Up the $11 Trillion Index Boom

    {August 10th, 2021} by Yakob Peterseil

    After spending most of his career helping indexes take over the investment world, these days Laurence Black deals with the fallout from the $11 trillion monster he helped unleash. As a creator of complex quantitative gauges at Barclays Plc, he contributed to a benchmark boom that critics say has spun wildly out of control, with around 3 […]

    Pandemic pushed an additional 1.7 million Americans into retirement

    {August 10th, 2021} by Stephaniez Asymkos

    The pandemic forced more older workers to retire — often before they were ready financially — a new study found, widening the country’s growing retirement inequality gap and leaving certain baby boomers vulnerable to poverty in their golden years. During the pandemic, an additional 1.7 million Americans retired earlier than what would have been expected […]

    Protective Life Announces Lauren Drapeau as New National Sales Director of Annuity Advisory Solutions

    {August 10th, 2021} by Protective

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced the hiring of National Sales Director of Annuity Advisory Solutions, Lauren Drapeau. She will be responsible for leading efforts to deepen and enhance Protective’s Advisory business partnerships. “Lauren has significant industry experience and a deep understanding […]

    Insurer Quietly Tests Limits for Selling Complex Life Policies Directly

    {August 9th, 2021} by Charlotte Zimmer

    “I really hope this insurance company has some secret sauce where they’re going to break the bank and be successful at it,” said Wink CEO Sheryl Moore. “But I’m gonna have to say I’m cautiously optimistic for them. There’s a lot of ‘what ifs’ here.” Click HERE to read the full story via  Life Annuity Specialist

    Lawmakers Aim to Reform Index Linked Annuities Registration Reg

    {August 3rd, 2021} by John Manganaro

    A trio of lawmakers has reintroduced the Registration for Index Linked Annuities Act, a piece of legislation that supporters say will lower barriers to the launch of innovative retirement income products. The legislation would require the U.S. Securities and Exchange Commission (SEC) to revise its rules regarding the development and offering of certain annuity products. […]

    Bill to reform index-linked annuities registration reintroduced

    {August 3rd, 2021} by Brian Croce

    A bipartisan bill to direct the Securities and Exchange Commission to issue a new form for annuity issuers to use when filing registered index-linked annuities has been reintroduced in the House. Rep. Alma Adams, D-N.C.; Rep. Dean Phillips, D-Minn.; and Rep. Anthony Gonzalez, R-Ohio, reintroduced the Registration for Index Linked Annuities Act on July 30. […]

    Another Insurer Faces Agent Recruiting Headaches

    {August 3rd, 2021} by Allison Bell

    CNO Financial Group is finding it easier to keep experienced agents right now than to recruit new ones. Gary Bhojwani, the Carmel, Indiana-based life and health insurer’s CEO, talked about the effects of a tight labor market on agent recruiting last week, during a conference call the company held to go over earnings for the […]

    Brighthouse Financial Introduces Enhancements to Its Flagship Shield® Level Annuities

    {August 3rd, 2021} by Brighthouse Financial, Inc

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial”) (Nasdaq: BHF) announced today new enhancements1 to Brighthouse Shield® Level Annuities (“Shield annuities”). These enhancements give clients saving for retirement even more ways to tailor Shield annuities to their individual needs to help them achieve their financial goals. “We are excited to introduce these enhancements to our Shield annuity products […]

    AM Best Upgrades Credit Ratings of Oxford Life Insurance Company and Christian Fidelity Life Insurance Company

    {August 3rd, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Oxford Life Insurance Company (Oxford Life) (Phoenix, AZ), and its subsidiary, Christian Fidelity Life Insurance Company (Dallas, TX), which are collectively referred to as […]

    Legislation Would Encourage Retirement Product Innovation

    {August 3rd, 2021} by Press Release

    WASHINGTON, D.C.  – A bill to lower barriers to innovative retirement income products by requiring the Securities and Exchange Commission to revise its rules regarding the development and offering of certain annuity products was introduced in the House of Representatives today. The Registration for Index Linked Annuities Act directs the SEC to devise a new […]

    Life Insurance Literacy

    {August 3rd, 2021} by Mark Tattersall

    When posed with the question of whether to buy life insurance, a reported 31% of Americans said they were more likely to seek out a life policy because of the COVID-19 pandemic. This LIMRA data shows that even a year after the pandemic’s onset, people’s heightened awareness around their mortality were still high — and […]

    AM Best Upgrades Credit Ratings of Liberty Bankers Life Insurance Company and Its Subsidiaries

    {August 3rd, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a-” (Excellent) from “bbb+” (Good) of Liberty Bankers Life Insurance Company (Oklahoma City, OK), and its wholly owned life insurance subsidiaries, The Capitol Life Insurance Company (Dallas, TX) and American […]

    New York Life Announces Expansion of Its Industry Leading Development Program for Financial Professionals

    {August 3rd, 2021} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest1 and most admired2 mutual life insurer, today announced the launch of an exclusive partnership with The American College of Financial Services that marks a major step forward in defining and supporting the path to specialization for the company’s financial professionals. The partnership includes a new curriculum featuring five modular development […]

    MassMutual Unveils New Brand Campaign

    {August 3rd, 2021} by Grey

    NEW YORK, July 28, 2021 /PRNewswire/ — Massachusetts Mutual Life Insurance Company (MassMutual) today unveiled a new brand platform and comprehensive, multichannel brand advertising campaign. It is the first work from Grey, its newly appointed lead creative agency-of-record. The message is MassMutual’s mission to use its expertise to help people navigate the “Uncomfortable Truths” behind financial  planning, […]

    Kansas City Life Announces Second Quarter 2021 Results

    {August 3rd, 2021} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., July 30, 2021 /PRNewswire/ — Kansas City Life Insurance Company recorded net income of $4.3 million or $0.44 per share in the second quarter of 2021, a decrease of $12.7 million or $1.31 per share relative to the second quarter of 2020.  Net income totaled $3.6 million or $0.37 per share in the first six months of 2021, down from $17.1 million or $1.77 per share in the first six months […]

    CNO Financial Group Reports Second Quarter 2021 Results

    {August 3rd, 2021} by CNO Financial Group, Inc.

    CARMEL, Ind., July 28, 2021 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ending June 30, 2021, net income was $78.0 million, or $0.58 per diluted share, compared to a net income of $82.0 million, or $0.57 per diluted share, in 2Q20. Net operating income (1) in 2Q21 was $89.1 million, or $0.66 per diluted share, compared to $79.4 million, or $0.55 per diluted share, in […]

    AmeriLife To Acquire Saybrus Partners from Nassau Financial Group

    {August 3rd, 2021} by AmeriLife Group, LLC

    CLEARWATER, Fla. and HARTFORD, Conn., July 27, 2021 /PRNewswire/ — AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing annuity, life, and health insurance solutions, has entered into an agreement to acquire Saybrus Partners, LLC (“Saybrus”), a life insurance and annuity distribution company, from Nassau Financial Group (“Nassau“). “As longtime partners with Nassau Financial Group, we’ve witnessed firsthand Saybrus Partners’ track […]

    Horace Mann Reports Second-Quarter 2021 Net Income of $1.11 Per Share and Record Core Earnings* of $1.02 Per Share

    {August 3rd, 2021} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the three months ended June 30, 2021:   ($ in millions, except per share amounts)   Three Months Ended June 30,   Six Months Ended June 30,     2021   2020   % Change   2021     2020     % […]

    Principal Financial Group® Announces Second Quarter 2021 Results

    {August 3rd, 2021} by Principal

    DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced results for second quarter 2021. Net income attributable to PFG for second quarter 2021 of $361.8 million, compared to $398.3 million for second quarter 2020. Net income per diluted share of $1.32 for second quarter 2021 compared to $1.45 in the prior year quarter. Non-GAAP operating earnings for […]

    Guaranteed Lifetime Income or A Fully Stocked Wine Cellar? Financial Advisors Believe Their Clients Favor the Forme

    {August 3rd, 2021} by RetireOne

    SAN FRANCISCO–(BUSINESS WIRE)–RetireOne®, the leading independent platform for fee-based insurance solutions, and Protective Life Corporation (Protective), a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced the results of the “2021 RIA Protected Accumulation + Retirement Income Survey”. Top findings the survey revealed are that registered investor advisors (RIAs) are staunch in their belief that guaranteed […]

    Financial Advisors’ Enthusiasm for Annuities Is Growing: Survey

    {August 3rd, 2021} by Michael S. Fischer

    RIAs strongly believe that guaranteed lifetime income delivers immense value to their clients and their resistance to annuity solutions appears to be waning, according to a new survey from RetireOne, an independent platform for fee-based insurance solutions, and Protective Life Corp., a wholly owned subsidiary of Dai-ichi Life Holdings. At the same time, too many […]

    House bill would simplify approval of registered index-linked annuities

    {August 3rd, 2021} by InvestmentNews

    A bill has been introduced in the House of Representatives that would require the Securities and Exchange Commission to revamp the registration form for registered index-linked annuities, or RILAs. Click HERE to read the full story via InvestmentNews

    U.S. Annuity Sales Jumped 39% In Q2

    {August 3rd, 2021} by Jacqueline Sergeant

    U.S. annuity sales rose in the second quarter to $67.9 billion, a 39% increase over the same period last year and the best performance in more than a decade, according to preliminary results from the Secure Retirement Institute (SRI) U.S. Individual Annuity Sales Survey. Annuity sales, year-to-date, climbed to $129 billion, 23% higher than the […]

    The Big Q: In What Situations Do You Recommend Annuities?

    {August 3rd, 2021} by Amey Stone

    In the current market, where stocks are expensive and interest rates low, annuities are gaining popularity as a source of income. But annuities aren’t right for everybody and are often criticized for high fees and complexity (although products have improved on both scores in recent years). With that in mind, Barron’s Advisor checked in with […]

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

    {August 3rd, 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 Midland National Life Insurance Company (Midland National) and North American Company for Life and Health Insurance (North American) (both domiciled in West Des Moines, IA). In addition, AM Best has affirmed […]

    SEC, FBI Warn of Scammers Posing as Brokers and FAs

    {August 3rd, 2021} by Alex Padalka

    The Securities and Exchange Commission and the Federal Bureau of Investigation are warning investors about fraudsters posing as registered brokers or investment advisors to perpetrate scams. Some fraudsters could be falsely claiming that they’re registered with the SEC, the Financial Industry Regulatory Authority or a state securities regulator, the SEC’s Office of Investor Education and […]

    Financial Advisors’ Enthusiasm for Annuities Is Growing: Survey

    {August 3rd, 2021} by Michael S. Fischer

    RIAs strongly believe that guaranteed lifetime income delivers immense value to their clients and their resistance to annuity solutions appears to be waning, according to a new survey from RetireOne, an independent platform for fee-based insurance solutions, and Protective Life Corp., a wholly owned subsidiary of Dai-ichi Life Holdings. At the same time, too many […]

    Principal Sees Strong Interest in Its Life and Annuity Blocks

    {August 3rd, 2021} by Allison Bell

    Principal Financial Group executives say efforts to wind down unwanted U.S. life and annuity operations are going well. Dan Houston, the Des Moines, Iowa-based company’s CEO, briefed securities analysts on the company’s realignment Wednesday, during a conference call the company held to go over earnings for the second quarter, which ended June 30. Principal announced […]

    AM Best Affirms Credit Ratings of American Equity Investment Life Insurance Company and Its Subsidiaries

    {August 3rd, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of American Equity Investment Life Insurance Company (AEILIC) and its subsidiaries, American Equity Investment Life Insurance Company of New York (Lake Success, NY) and Eagle Life Insurance Company, collectively referred to […]

    Millennials, What Will It Take for You to Buy Life Insurance?

    {August 3rd, 2021} by Michael Waters

    YuLife is something of a cross between Fortnite and a Fitbit. In the mobile game, players compete against one another to rack up bike miles and meditation hours. They can access hundreds of virtual worlds—collectively known as the “Yuniverse”—each of which represents a level with its own set of real-life tasks. They can challenge friends […]

    Integrity Welcomes Universe Financial to Their Fast-Growing Partner Network

    {August 3rd, 2021} by Integrity Marketing Group, LLC

    DALLAS, July 27, 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 Universe Financial Insurance Services (“Universe Financial”), an independent marketing organization (IMO) based in Chicago, Illinois. As part of the acquisition, Ivan Vedrov, President of Universe Financial, will […]

    Amplify Raises $2.5M Investment in Life Insurance for Building Wealth

    {August 3rd, 2021} by Amplify

    SAN FRANCISCO, July 29, 2021 /PRNewswire/ — Amplify Life Insurance, a digital permanent life insurance platform, announced today it has raised $2.5M in Seed funding led by Anthemis with participation from Transverse Ventures Fund.  Started in 2019 by cofounders Qiyun Cai and Hanna Wu, Amplify’s mission is to help people build wealth through permanent life insurance. Today, the platform offers life insurance products […]

    These 6 Misconceptions About Annuities Could Have You Missing Out on Guaranteed Lifetime Income

    {August 3rd, 2021} by Gabrielle Olya

    Having a source of guaranteed lifetime income can give you peace of mind in retirement, but many people still shy away from buying into annuities — financial products that are designed to do just that. While annuities may not be the best choice for everyone, some people who would benefit from including annuities in their […]

    Ameriprise CEO Talks About RiverSource Deal Options

    {August 3rd, 2021} by Allison Bell

    Jim Cracchiolo gave a careful answer Tuesday to a securities analyst’s question about the future of Ameriprise Financial’s RiverSource Life unit. Cracchiolo, Ameriprise’s chairman and CEO, was presiding over a conference call the Minneapolis-based company held to brief the analysts on the company’s second-quarter results. The second quarter ended June 30. Ameriprise announced June 29 […]

    How to Enjoy a Guilt-Free Retirement

    {August 3rd, 2021} by Robert Klein, CPA

    Tilney, a highly-regarded financial planning firm in England, where workers are automatically enrolled in employer pension plans unless they opt out, surveyed 1,300 employees in 2018 regarding what they planned to do with their pension when they retire. The results were as follows: 40% said they didn’t know what they would do. 22% said they […]

    Principal Financial In A ‘Good Place To Fight From’ As Competitors Scale Up

    {August 2nd, 2021} by John Hilton

    While in agreement that bigger is better in the retirement plan management world, Principal Financial executives say they feel no pressure to respond to the blockbuster Empower Retirement acquisition. Empower will acquire Prudential’s defined contribution, defined benefit, non-qualified and rollover IRA business in addition to its stable value and separate account investment products and platforms […]

    New book, 7 Benefits of FIAs for Retirement, by Sean A. Ruggiero is released. It is a guide to all Americans teaching retirement readiness and stability with the added power of Fixed Index Annuities

    {August 2nd, 2021} by GetNews

    7 Benefits of FIAs for Retirement by Sean A. Ruggiero has been released worldwide. This 150-page educational work uses real data and the author’s years of experience to show how adding Fixed Index Annuities (FIAs) to your retirement strategy will create a more stable and enjoyable retirement. Written in straightforward, easy to understand language, this […]

    CFP Board proposes tougher penalties for hiding misconduct

    {August 2nd, 2021} by Mark Schoeff Jr.

    The Certified Financial Planner Board of Standards Inc. is seeking to increase the punishment for credential holders who do not disclose their own ethical missteps. Click HERE to read the full story via InvestmentNews

    What Empower’s purchase of Pru retirement business means for advisers

    {August 2nd, 2021} by Fred Barstein

    Record-keeper consolidation is happening even faster than predicted, in part because of the recent Empower buying spree, which continued recently with its purchase of Prudential’s retirement business. Click HERE to read the full story via InvestmentNews

    AM Best Affirms Credit Ratings of Teachers Insurance and Annuity Association of America and Its Subsidiary

    {August 2nd, 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 “aaa” (Exceptional) of Teachers Insurance and Annuity Association of America (TIAA) and its wholly owned insurance subsidiary, TIAA-CREF Life Insurance Company (TIAA-CREF Life). TIAA and TIAA-CREF Life collectively are referred to as the TIAA […]

    Financial Services Groups Still Fear Labor Bill

    {August 2nd, 2021} by Allison Bell

    Financial services industry groups are continuing to fight hard against the Protecting the Right to Organize (PRO) Act, even though supporters seem to be having a hard time rounding up enough support to get it through the Senate. The PRO Act bill would change federal labor rules. One section would expand the definition of “employee” […]

    Diverse Cultures Correlate With Strong Investment Returns

    {August 2nd, 2021} by Christine Hurtsellers

    Having spent my career in money management in several organizations—both public and private—I’ve seen the difference that a strong, innovative culture can provide—not only in terms of generating investment returns, but also for our firm’s employees.    There has been much written over the years about the benefits of a diverse workforce.  However, despite this […]

    What Same-Sex Partners Need To Know About Estate Planning

    {August 2nd, 2021} by Filomena Gomes

    Some people might assume that estate planning is only for the wealthy, but the reality is that anyone can, and should, engage in estate planning, regardless of wealth. Although creating an estate plan for same-sex couples isn’t wholly different than for heterosexual couples, there are some considerations that are unique to same-sex couples. Proper estate […]