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Archive for September 2021

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  • SECOND QUARTER 2021 ANNUITY SALES

    {September 29th, 2021} by Sheryl J. Moore

    Deferred Annuity Sales Total 2Q2021 deferred annuity sales were $64,492,263,828. Second quarter deferred annuity sales were up nearly 11% when compared to the previous quarter and up more than 40% when compared to the same period last year. Deferred annuities include sales of fixed, indexed,  multi-year guaranteed, structured, and variable deferred annuities.       […]

    Buying Life Insurance? The Industry Is Being Transformed. What You Need to Know.

    {September 28th, 2021} by Leslie Scism

    A growing number of U.S. life insurers—small, midsize and some of the industry’s biggest household names—have sold or announced they will sell their U.S. consumer life-insurance and annuity businesses. Most are selling to a nontraditional type of owner: private-equity firms, asset managers, hedge funds and other investment entities. Some of the industry newcomers are buying […]

    An Agent’s Case for Term Life

    {September 28th, 2021} by Mark A. Peterson

    The COVID-19 pandemic has caused everyday Americans to seriously consider their own mortality and the potential financial consequences for their loved ones. As a result of people’s heightened focus around health and financial security, we have seen an increased awareness of the value of life insurance — particularly with younger generations. In the first six […]

    Arent Fox Represents Opt-Out Plaintiffs in Coordination with Class Actions Against Universal Life Insurance Carriers for Unlawful Cost-of-Insurance Increases

    {September 28th, 2021} by Franjo Dolenac and Julius Rousseau, III

    The absence of insurance regulations to limit or deter unlawful cost-of-insurance (“COI”) increases for universal life insurance (“ULI”) policies has resulted in a flurry of class action activity against carriers.   Some carriers have increased COI rates by as much as 100 percent in a single year, leaving ULI policy owners to fend for themselves […]

    I’m HIPP, and That’s Not Cool

    {September 28th, 2021} by John Rafferty

    Huey Lewis and The News once sang, “It’s Hip to be Square.” My wife and I are also HIPP. We’re “High Income, Pre-retired, and Pension-less.” HIPP is not so cool. I don’t think it squares with a solid retirement strategy. Click HERE to read the full story via RIJ

    Getting to know our Chief Everything Officer

    {September 28th, 2021} by Wink's Intel Pros

    VICTORIA L. GROSSMAN, A.K.A. TORI, A.K.A. THE “DECISION DIVA.” Victoria, Chief Everything Officer, was the first employee that Sheryl J. Moore hired to work with her at Wink. She became a member of the Moore family after Sheryl’s then four-year-old son hit on her at her teenage job. Always willing to help a friend, and […]

    Online Sales Data Query: Subscribers only

    {September 28th, 2021} by Wink's Intel Pros

    Wink’s online Sales Data Query allows Wink’s Sales & Market Report subscribers to search sales by company, sales per distribution channel, sales based upon company ratings, sales of products* with specific product/rider features. Platinum-level subscribers and insurers now have over 20 years of data included in the online query as a part of their subscription.  […]

    16 Ways Seasonal Businesses Can Better Manage Finances During Sales Cycles

    {September 28th, 2021} by Forbes Finance Council

    4. Diversify The best way to weather seasonal storms is to develop multiple revenue centers. Launch one when another is doing less than great. This way, you and your business will be able to weather the ups and downs of cash flow and revenue challenges. – Sheryl J. Moore, Wink, Inc.   Click HERE to read the […]

    What the Secure Act Means for Annuities in Retirement Plans

    {September 28th, 2021} by David Paul and Michelle Ritcher

    On Dec. 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement (Secure) Act into law. This bipartisan legislation, which had been in the works for several years, seeks to further promote access to retirement income within the 401(k) market. An important aspect of this act is a “safe harbor” provision for […]

    This Top Raymond James Annuity Broker Runs a Record Label, Too

    {September 28th, 2021} by Jane Wollman Rusoff

    When Jeffrey Oster finally admitted that his career Plan A would not materialize, he embarked on freshly created Plan B — far, far afield indeed from Plan A. Nevertheless, this would soon allow him to happily pick up Plan A without quitting what turned out to be a successful, lucrative Plan B career. Plan A? […]

    Lincoln Financial Group Announces Flow Reinsurance Transaction With Talcott Resolution

    {September 28th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced it has entered into an agreement with Talcott Resolution Life Insurance Company to reinsure up to $1.5 billion in sales of Lincoln’s flagship variable annuity living benefit rider. The transaction covers business issued from April 1, 2021, through June 30, 2022. “Recent industry transactions reflect an […]

    Riskalyze and Allianz Life Form Strategic Alliance on Technology and Analytics for Select Annuity Products

    {September 28th, 2021} by Riskalyze

    AUBURN, Calif.–(BUSINESS WIRE)–Riskalyze, the company that invented the Risk Number®, today announced a new partnership with Allianz Life Insurance Company of North America (Allianz Life), a leading retirement solution provider that has helped Americans prepare for their financial future for more than 125 years. As part of this relationship, Allianz Life will be featured in the Riskalyze Partner Store, […]

    Panel: Variable Annuities Still Alive, Have Opportunities To Thrive Again

    {September 28th, 2021} by John Hilton

    The variable annuity market is in a transition period reliant on product and regulatory evolution to keep sales high. If that evolution takes place, VAs could easily recapture their former glory while meeting consumers’ needs in a variety of ways, an Insured Retirement Institute panel agreed this week. The nonqualified variable annuity market is growing […]

    Why Life Insurance Must Be A Key Element in Any Financial Strategy

    {September 28th, 2021} by Steve Rueschhoff and David Levenson

    The COVID-19 experience has made it clear that life is fragile – physically, emotionally and financially. For many Americans, the pandemic has been a wake-up call, a trigger to reexamine the financial strategies they have created to prepare for the unexpected. Life insurance must be an essential piece of those strategies. Click HERE to read […]

    How 2 Couples Covered Their Income Gaps for Life with Income Annuities

    {September 28th, 2021} by Ken Nuss

    When you’re planning your retirement, consider your need for cash flow. If your cash flow isn’t right, the rest of your investment strategy will become unstable. You may need to sell off investments when you have to rather than when you want to.   To determine your needs for cash now and in the future, here are some questions […]

    5 Secrets for Annuity Selling Success

    {September 28th, 2021} by Bill Broich

    Before I get started, let me handle the gorilla in the room: You need to have a marketing budget. You must invest in yourself. The amount you are willing to invest will affect the success you will find. If you do not have funds set aside, don’t read any further. I hear it all the […]

    Annuity Litigation Roundup

    {September 28th, 2021} by Dimitrije Canic, Brooke Patterson

    Court Emphasizes Disclosure Substance Over Form A recent decision in Nofsinger v. Jackson National Life Insurance Co. shut down a putative class action in which the plaintiff alleged she surrendered her annuity contract after receiving a deceptive letter regarding her contract options from Jackson National and was then charged an improper surrender charge. In Nofsinger, the plaintiff purchased […]

    Empowering Lead-HER-ship in Insurance

    {September 27th, 2021} by Sheryl J. Moore

    Remind me to tell you about the insurance company CMO that devastated my business for over a decade, by pushing me into Imposter Syndrome! -sjm   Register here 

    Allianz Is Said Planning to Offload Large U.S. Life Portfolio

    {September 27th, 2021} by an-Henrik Foerster, Eyk Henning, and Matthew Monks

    Allianz SE is working to offload a large block of U.S. life insurance policies in a move that could free up several billion dollars in capital, people with knowledge of the matter said.  Europe’s largest insurer is discussing a potential reinsurance deal for a portfolio with tens of billions of dollars in assets and liabilities, according […]

    Setting it Straight

    {September 27th, 2021} by Sheryl J. Moore

    As a third-party neutral product expert, I have a few concerns about this article. 1. Insurance has a cost and annuities are not intended to be an investment, akin to stocks, bonds, etc. 2. What is the price that you would pay for a guaranteed paycheck for life? Certainly, the insurance company shouldn’t be expected […]

    Governor Whitmer Proclaims September as Life Insurance and Annuity Awareness Month; DIFS Announces $3.9 Million Recovered for Consumers

    {September 27th, 2021} by Michigan Department of Insurance and Financial Services

    Media Contact: Laura Hall, 517-290-3779,DIFS-Press@michigan.gov Consumer Hotline: 877-999-6442, Michigan.gov/DIFScomplaints FOR IMMEDIATE RELEASE: Sept. 23, 2021 (LANSING, MICH) Governor Gretchen Whitmer has proclaimed September as Life Insurance and Annuity Awareness Month, and the Michigan Department of Insurance and Financial Services (DIFS) and the Life Insurance Association of Michigan (LIAM) are reminding consumers of the importance of life insurance. “Life insurance not only provides […]

    The Hidden Benefits of Universal Life Insurance

    {September 27th, 2021} by INN Feed

    iQuanti: Universal life insurance is a type of permanent life insurance. In other words, the policy will cover you for your entire life assuming required premiums are paid and all requirements of keeping the policy active are fulfilled. Some universal life insurance policies offer cash value and flexibility with premiums and death benefit that give […]

    Prudential Financial to sell $31B PALAC block of legacy variable annuities to Fortitude Re

    {September 21st, 2021} by Fortitude Group Holdings

    NEWARK & JERSEY CITY, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (“Prudential”) (NYSE: PRU) and Fortitude Group Holdings, LLC, the parent company of Bermuda’s largest multi-line reinsurer (“Fortitude Re”), today announced that they have entered into a definitive agreement under which Prudential will sell a portion of its in-force legacy variable annuity block to Fortitude Re for a […]

    14 Financial Documents That Business Leaders Should Keep A Hard Copy Of (Even In The Digital World)

    {September 21st, 2021} by Forbes Financial Council

    4. Your Articles Of Incorporation Your articles of incorporation should always be kept in hard copy for S- and C- Corps. This documentation is requested so frequently by banks, investors and others. By all means, digitize it, but keep a hard copy handy as well. – Sheryl J. Moore, Wink, Inc. Click HERE to read the full […]

    Hi. Newsflash.

    {September 21st, 2021} by Sheryl J. Moore

    If you are using software that looks at historical performance of indexed annuities, ask if they are <emphasis here> assuming the options costs that were in effect at the time of the historical period. <emphasis here> I do not know of a SINGLE one that does. If they are not using historical option costs, while […]

    Thanks for peeing in our own pool.

    {September 21st, 2021} by Sheryl J. Moore

    Illustration software showing indexed annuities with indexing methods yielding 14%+. REALLY?! A fixed insurance product with a 0% floor, in a prohibitive options pricing environment, with one of the most historically conservative insurance companies in the industry. SMH. Does the insurance company know? *angry* This is why insurance illustrations that are not compliant with the National […]

    Lincoln to Reinsure $9.4B in UL and Executive Benefits Policies

    {September 21st, 2021} by Allison Bell

    Lincoln Financial wants to shed a large amount of risk associated with old insurance policies while continuing to sell new policies. The Radnor, Pennsylvania-based life insurer today announced that it has arranged to have Security Life of Denver — an arm of Resolution Life Group Holdings — reinsure a block of in-force universal life insurance […]

    American Council of Life Insurers (ACLI): Policyholders’ COVID-19 Vaccine Status Does Not Affect Life Insurance Claims

    {September 21st, 2021} by ACLI

    WASHINGTON, Sept. 16, 2021 /PRNewswire/ — American Council of Life Insurers (ACLI) Senior Health Actuary Jan Graeber issued the following statement on misinformation relating to COVID-19 vaccines: “We said it before and, unfortunately, we must say it again because misinformation about life insurance claims and the COVID-19 vaccine continues to spread. “Policyholders should rest assured that nothing has […]

    Annexus and PlanGap Partner To Offer Timely Protection For Social Security

    {September 21st, 2021} by Annexus

    SCOTTSDALE, Ariz., Sept. 21, 2021 /PRNewswire/ — Annexus, the leading independent product design and distribution company of fixed indexed annuities (FIAs) and indexed universal life insurance policies, and PlanGap, a financial product innovation company pioneering Social Security protection, have announced a strategic partnership. The partnership provides Annexus exclusive rights to add a patent pending PlanGap® feature to […]

    A New Path to Inflation-Proof Lifetime Income

    {September 21st, 2021} by Kerry Pechter

    Achaean Financial and National Western Life Insurance are finally bringing to market Lorry Stensrud’s long-nurtured idea for an immediate income annuity with upside potential. RIJ recently obtained a copy of the state filing document from National Western. State approvals are pending. Click HERE to read the full story via RIJ

    Insurers Can Close The Coverage Gap While Helping Underserved Groups

    {September 21st, 2021} by Susan Rupe

    Consumers showed a greater interest in buying life insurance during the COVID-19 pandemic, but how can carriers continue to capitalize on that interest? How can insurers close the coverage gap while bolstering diversity, equity and inclusion? A recent report by Deloitte Center for Financial Services, “Financial Inclusion And The Underserved Life Insurance Market,” analyzed ways […]

    It’s Time to Shine, Birmingham: Protective Life Corporation and the BJCC Celebrate the Official Lighting of Protective Stadium

    {September 21st, 2021} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Following the recent launch of a new brand identity, Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750) celebrated alongside employees, elected officials, business and community leaders and project partners as the Protective Stadium identification signage was officially turned on for the first time at Protective Stadium last evening. […]

    AM Best Comments on Credit Ratings of Fortitude Reinsurance Company Ltd. Following Announced Prudential Annuities Life Assurance Corporation Acquisition

    {September 21st, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Fortitude Reinsurance Company Ltd. (Fortitude Re) (Bermuda) remain unchanged following the its parent company’s recent agreement to acquire Prudential Annuities Life Assurance Corporation (PALAC) (Arizona). AM Best views the acquisition of PALAC, […]

    Resolution Life Enters Into Reinsurance Agreement With Lincoln Financial Group

    {September 21st, 2021} by Resolution Life US Holdings

    WEST CHESTER, Pa.–(BUSINESS WIRE)–Resolution Life US Holdings Inc., a subsidiary of Resolution Life Group Holdings LP (‘Resolution Life’), a global manager of in-force life insurance businesses, today announced the signing of a $9.4 billion reinsurance transaction between its insurance subsidiary, Security Life of Denver Insurance Company (‘SLD’) and Lincoln National Corporation’s (‘Lincoln’) insurance subsidiary, The […]

    Jackson Financial Announces Second Quarter 2021 Results

    {September 21st, 2021} by Jackson Financial Inc.

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc. (NYSE: JXN) today announced financial results for the three months ended June 30, 2021. Jackson separated from Prudential plc on September 13, 2021, and the second quarter results mark the company’s first quarterly earnings report as an independent public company. Key Highlights Net loss of $540 million, or ($5.72) per diluted […]

    AM Best Places Credit Ratings of Prudential Annuity Life Assurance Corporation Under Review With Negative Implications

    {September 21st, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with negative implications the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa-” (Superior) of Prudential Annuity Life Assurance Corporation (PALAC), headquartered in Newark, NJ. PALAC’s Credit Ratings (ratings) were placed under review with negative implications following the announcement that Fortitude Group Holdings, […]

    Allianz Life Study Sheds Light on “One-Size-Fits-All” Retirement Planning Problem for BIPOC Communities

    {September 21st, 2021} by Allianz Life

    MINNEAPOLIS–(BUSINESS WIRE)–The majority of Americans who identify as BIPOC (Black, Indigenous, and People of Color, including Hispanic and Asian/Asian Americans) believe they won’t have enough saved for retirement (52% Black/African American; 56% Hispanic; 62% Asian/Asian American), according to the 2021 Retirement Risk Readiness Study* from Allianz Life Insurance Company of North America (Allianz Life). While […]

    Life Insurance Activity Returns To Year-Over-Year Growth, MIB Reports

    {September 21st, 2021} by MIB Life Index

    U.S. life insurance application activity returned to growth in August 2021 compared to August 2020 with year-over-year activity up 5.5%, MIB reports. While year-over-year comparisons are impacted by fluctuations in 2020 activity due to COVID, when comparing results to 2019, August 2021 is up 9.5%, MIB reported. The industry remains on track for a strong […]

    Principal Financial Group signals it will cut some Des Moines positions amid restructuring

    {September 21st, 2021} by Tyler Jett

    Principal Financial Group is laying off some Des Moines workers as the company shutters some of its lines of business.  Principal issued a notice to the state last week, announcing plans to cut 25 positions by Oct. 11. The Des Moines-based financial services company, which employs about 6,300 workers in the metro, announced in June that it […]

    Life Insurance Awareness Month

    {September 21st, 2021} by Wink's Intel Pros

      September is Life Insurance Awareness Month #LIAM!  Wink supports Life Insurance Awareness and will be joining in this month’s awareness campaign! We will be reprinting our CEO’s most requested life insurance-focused articles all month long; they will be indicated with “reprint” in the title.  You’ll find these timeless articles are still relevant today. According […]

    Reliable and Relevant: Reprint #LIAM

    {September 21st, 2021} by Sheryl J. Moore

    I will never forget the day when Grandfather came home with tears in his eyes, talking about his client who had died unexpectedly. You see, this client’s wife had just held my grandfather’s hand for hours, as people came through a funeral home, paying their last respects to her husband. She repeatedly thanked him, looking […]

    FUNDING UNIVERSAL LIFE INSURANCE AT TARGET? YOU’RE MISSING THE POINT: REPRINT #LIAM

    {September 21st, 2021} by Sheryl J. Moore

    The following article is a reprint, originally written July 15, 2013 by Sheryl J. Moore: Throughout the past [20] years of working with universal life (UL) products, one comment in particular has been overheard far too often: “…fund this UL at [X percent] over target.” This comment is especially popular in the indexed life market, […]

    We Need Help Growing Life Insurance Distribution: REPRINT #LIAM

    {September 21st, 2021} by Sheryl J. Moore

    Originally posted February 5, 2011 by Sheryl J. Moore Most of you know that I am passionate about indexed life insurance and indexed annuities. However, I am passionate about insurance products in general. In fact, one of the things that I am MOST passionate about is growing our distribution! Not so long ago, life insurance […]

    FAs Weigh In: Remote Work, Comp, Mentoring Ideal for Female Advisors

    {September 21st, 2021} by Rita Raagas De Ramos

    FA-IQ reached out to advisors to ask: What advice would you give to young women considering becoming advisors? Susan Sofronas, managing director at Geller Advisors. New York City and Los Angeles-based Sofronas has been in the industry for 30 years and her firm has $4.6 billion in client assets. Click HERE to read the full […]

    FINRA CEO, SEC commissioner call for ‘one-stop’ regulatory database

    {September 21st, 2021} by Tobias Salinger

    Count an SEC commissioner and the CEO of FINRA among those calling for a single public database for financial advisors’ and broker-dealers’ regulatory disclosures rather than the current patchwork. In a panel at the North American Securities Administrators Association’s annual meeting, SEC Commissioner Allison Herren Lee and FINRA CEO Robert Cook said they would like […]

    Here’s What Consumers Want: Allianz Life CEO

    {September 21st, 2021} by Allison Bell

    The head of a major annuity issuer says the nature of life and annuity distribution is changing because that’s what the customers want. Jasmine Jirele, CEO of Allianz Life of North America, touched on distribution earlier this week, during a session at KPMG’s 33rd annual insurance conference. Jirele, who was named to succeed Walter White […]

    Insurance stocks post modest declines; Prudential Financial, Lincoln ink deals

    {September 21st, 2021} by Tom Jacobs

    Insurance stocks tracked closely with the broader market during a week that saw two life giants sign substantial deals, including one that stands to further alter the seller’s business mix. The S&P 500 declined 0.57% to 4,432.99 for the week ending Sept. 17, while the S&P 500 Insurance Index dipped 0.59% to 521.19. Prudential Financial […]

    Commentary: Why AG49 Is Like Frankenstein’s Monster

    {September 21st, 2021} by John Hutchinson

    Actuarial Guideline 49 has been bolted onto and restitched to the point where it degenerated into a grotesque monster with a life of its own. Like the road to hell, AG49’s original path was paved with good intentions. Its stated aim was to alleviate confusion by creating uniformity among indexed universal life illustrations plus requiring […]

    The Myths Preventing Consumers From Seeking Life Insurance Coverage

    {September 21st, 2021} by Tim Heslin

    The purpose of Life Insurance Awareness Month is to educate consumers about the importance of life insurance and the role it plays in protecting a family’s financial future. According to LIMRA, 30 million American households are underinsured, and another 30 million completely lack life insurance coverage. If a primary wage-earner dies unexpectedly, that could create […]

    Celent & Equisoft exclusive insurance research reveals: 91% of carriers are prioritizing the use of data and analytic technologies to inform decisions on pricing

    {September 21st, 2021} by Equisoft

    Commissioned by Equisoft as part of a new global study, this North American research will help carriers to plan, prioritize and make investment decisions on how to unlock the strategic value of their data to create new opportunities for growth, process optimization and customer experience improvement. PHILADELPHIA, Sept. 15, 2021 /PRNewswire/ – In a new report commissioned […]

    Conning is Pleased to Announce its Newest Focus Report – The Pressure to Innovate Through RPA (Robotic Process Automation)

    {September 21st, 2021} by Conning

    HARTFORD, Conn., Sept. 20, 2021 /PRNewswire/ — RPA (Robotic Process Automation) is one of the fastest growing innovative technologies being adopted by property-casualty and life/annuity insurers. Insurance companies are incorporating RPA capabilities across the value chain, and an ecosystem of RPA-focused startups has formed to support such transformations. The Conning Focus Report, “The Pressure to Innovate Through RPA“, […]

    Imagine The Future Of Illustrations

    {September 20th, 2021} by Chris W. Kite

    Updated Indexed Universal Life (IUL) illustration regulations are upon us! A long and winding road for regulators and carriers. Will illustrations get even longer? Similar to what John Lennon sings in Across the Universe, words and numbers are flowing out like endless rain into a paper cup … But we are seeing some shorter illustrations […]

    David Frederick Babbel

    {September 20th, 2021} by Main Line Media News

    The world lost a man of faith, scholarship, and passion for the Phillies when long-time Bryn Mawr resident David Frederick Babbel, 72, passed away on May 20, 2021, from the effects of leukemia. Born on April 12, 1949, in Salt Lake City to Frederick William and June Andrew Babbel, Dave spent his youth in Arlington, […]

    SEC Stacks Investor Protection Deck

    {September 20th, 2021} by Rich Bake

    Gary Gensler spent Tuesday, September 14, getting customarily grilled by lawmakers who control his budgetary resources. In prepared testimony, Gensler spelled out, in detail, his expansive agenda as chairman of the U.S. Securities and Exchange Commission. Retail trading practices, the rise of cryptocurrency and disruptive technologies all sit atop his “to be prioritized” list aired […]

    The many uses of advisory annuities for fiduciary financial professionals

    {September 20th, 2021} by Pacific Life

    Modern annuities are sophisticated strategies that can address the core financial-planning areas of retirement: income, tax, and legacy planning.  Click HERE to read the full story via InvestmentNews

    Pacific Life Foundation Awards $75,000 in College Scholarships During Life Insurance Awareness Month

    {September 20th, 2021} by The Pacific Life Foundation

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–The Pacific Life Foundation (the Foundation) has awarded five $15,000 college scholarships through Life Happens (www.LifeHappens.org) and its annual Life Lessons Scholarship Program to aid the financial burden of students who have lost a parent without life insurance. The scholarships are part of September’s Life Insurance Awareness Month, designed to help educate individuals […]

    SIMON Welcomes AIG Life & Retirement to Annuities Platform

    {September 20th, 2021} by SIMON

    NEW YORK–(BUSINESS WIRE)–SIMON Annuities and Insurance Services LLC (SIMON) today welcomes AIG Life & Retirement as the most recent carrier to join SIMON’s centralized Marketplace and premier platform for wealth managers. AIG Life & Retirement will have a broad selection of its annuities available on SIMON’s digital insurtech platform, which delivers a state-of-the-art product selection, […]

    Jackson Financial Completes Separation From Prudential

    {September 14th, 2021} by Jackson Financial Inc.

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (Jackson®) today announced that it has completed its previously announced separation from Prudential plc (Prudential; NYSE: PUK) through a demerger. Jackson is now an independent company, and its Class A common stock is expected to commence “regular way” trading under the ticker symbol “JXN” on the New York Stock Exchange on September 20, […]

    Protective Life Corporation Introduces New Brand Identity, Showcases Commitment as Protectors

    {September 14th, 2021} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Today Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), announces a new brand identity that exemplifies the Company’s 114-year commitment of putting people first, delivering on promises and striving to do more for its customers, business partners, employees and communities. The new brand leverages the potential of Protective’s […]

    THE BASICS ON INDEXED UNIVERSAL LIFE: Reprint for #LIAM

    {September 14th, 2021} by Sheryl J. Moore

    February 7, 2011 It has been nearly thirty years since consumers were first offered the benefits of Universal Life (UL) and with UL came flexibility in premium payments, death benefit options, coverage amounts, and all sorts of other things that they never dreamed of. UL was the beginning of a whole new world of product […]

    BUY TERM AND “INVEST” THE REST WITH INDEXED UNIVERSAL LIFE: Reprint #LIAM

    {September 14th, 2021} by Sheryl J. Moore

    For as long as I’ve been handling my own finances, I’ve been hearing that people should “buy term and invest the difference.” I have never really taken stock in the concept. I mean, I am a financial services professional that cut her teeth on whole life, but who would adopt this theory centered around buying […]

    Jackson — the Annuity Giant — Separates From Parent

    {September 14th, 2021} by Allison Bell

    Jackson Financial Inc. — a leader in the U.S. individual variable annuity market — announced today that it has completed the process of separating from its former parent, Prudential PLC of London, through a demerger. The U.K. Prudential, which has no connection with the U.S. Prudential Financial, announced in March 2020 that it intended to separate from […]

    Annuities are now a big business for PE firms

    {September 14th, 2021} by Emile Hallez

    Over the past five quarters, annuity providers owned by private equity firms have accounted for more than 40% of all indexed annuity sales, according to data provided by Moore Market Intelligence. Click HERE to read the full story via InvestmentNews

    Texas names new insurance commissioner

    {September 14th, 2021} by Rebecca Delaney

    Texas Governor Greg Abbott has appointed Cassie Brown as commissioner of insurance at the Texas Department of Insurance. The term is set to expire on 1 February 2023. Brown previously served in the department as commissioner of workers’ compensation, where she was responsible for overseeing the division’s regulation of the state’s workers’ compensation system, as […]

    Life Expectancy And The New Underwriting

    {September 14th, 2021} by Robert Goldstone

    For the first time in many of our lifetimes, life expectancy in the United States has declined. Not only did it just not go up as much as we expected—it actually declined. The fall of 1.5 years in 2020 from 78.8 years to 77.3 was the steepest decline since World War II, and the last […]

    Insight Into Insurtech Solutions That Impact Life Insurance Awareness

    {September 14th, 2021} by Ken Leibow

    September is Life Insurance Awareness Month. It’s well known that four out of 10 American households are putting their financial future at risk by not having life insurance. I wanted to dig into the little known aspects of pre-sales, sales, fulfillment, and inforce digital platforms that make a difference in generating new business, motivating consumers, […]

    Annuities: Retirement Is 43 Percent Off?

    {September 14th, 2021} by Charlie Gipple

    Many of the agents that work with CG Financial Group are well aware of the “Four Percent Rule” and the history around it. You probably are as well. I also make sure that agents are very familiar with the 2.8 percent rule. Why do I think understanding these rules are important for folks that sell […]

    Exploring Fixed Index Universal Life Insurance Opportunities In Vertical Industries

    {September 14th, 2021} by David R. Foster

    Often when we speak to financial professionals looking for life insurance opportunities, they will say they have increased their focus on the needs of business owners. Business owners have their own set of unique risks that need to be addressed, including business succession planning, attracting, retaining and motivating key employees, and structuring and funding buy-sell […]

    The RILA Market Is Evolving As Fast As It Is Growing

    {September 14th, 2021} by Micah Hesting

    As time goes on, the everchanging RILA market grows stronger and stronger in its offerings. From Athene’s “large bonus” on any earnings in the account to Equitable’s “not only will we credit back your losses, but we will also add them as a gain,” the offerings just keep getting better and better. If you are […]

    Why Your Annuity Trumpet Should Get Louder As Interest Rates Decrease

    {September 14th, 2021} by Charlie Gipple

    I know the title of this column seems contrary to what you would think but hear me out as I discuss the “relativity game” that annuities play and play very well. You may be thinking that this is yet another conversation about how annuities usually pay more than other “interest bearing” products like CDs, but […]

    Integrity Marketing Acquires a $35M Life Distributor

    {September 14th, 2021} by Allison Bell

    Integrity Marketing Group has acquired Twardowski Insurance Agency, an independent marketing organization that expects to sell new life insurance to about 30,000 people this year. The new policies will generate about $35 million in annual paid premium, according to Integrity Marketing.   Click HERE to read the full story via ThinkAdvisor

    Parents at Home Need Life Insurance Too: Idea File

    {September 14th, 2021} by Allison Bell

    Jessica Lepore, the founder of Surevested, an online life insurance agency that opened earlier this year, is spreading a message that’s almost as old as the modern U.S. life insurance industry: The work that husbands and wives do at home has a large financial value Lepore is doing this in observance of Life Insurance Awareness […]

    New study: 8 in 10 retirement plan sponsors say participants want guaranteed lifetime income investment options

    {September 14th, 2021} by Nationwide

    COLUMBUS, Ohio, Sept. 13, 2021 /PRNewswire/ — Nearly nine in 10 plan sponsors and participants (88%), respectively, agree that income in retirement is vital to financial security, according to the Nationwide Retirement Institute’s® 2021 In-Plan Lifetime Income survey of plan sponsors, plan participants, and plan advisors or consultants. However, despite recognizing the importance of income in retirement, the survey found participants don’t […]

    Securian Financial and Securian Asset Management Sign Principles for Responsible Investment

    {September 14th, 2021} by Securian Financial

    ST. PAUL, Minn.–(BUSINESS WIRE)–Furthering their commitment to secure a sustainable future, Securian Financial and its subsidiary, Securian Asset Management, have signed the United Nations-supported Principles for Responsible Investment (PRI). PRI signatories are committed to including environmental, social and governance (ESG) factors in their investment decision making and ownership. More than 4,000 organizations worldwide—including 700 U.S. asset […]

    Maybe a Mutual Life Insurer Is Different: Idea File

    {September 14th, 2021} by Allison Bell

    Northwestern Mutual has been a mutual insurer — meaning that it’s owned by its policyholders — since it was founded, back in 1857. Since then, the company has survived several swings of the life insurance company structure popularity pendulum, to and from preferences for mutual insurers, publicly traded insurers, and ordinary privately held companies. Click […]

    Life Insurers Could Pay Death Benefits Through Virtual Credit Cards

    {September 14th, 2021} by Allison Bell

    Life insurers could soon be paying more claims through virtual payment cards. Traditionally, many life insurers have been so conservative that they have resisted accepting payments made through credit cards or debit cards, let alone pushing cash into cards. But One Inc., a Folsom, California-based insurance payment company founded in 2006, recently formed a relationship […]

    Jackson launches enhanced Retirement Expense & Income Calculator

    {September 14th, 2021} by Jackson National Life Insurance Company

    LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced enhancements to its proprietary retirement expense calculator tool, designed to help financial professionals effectively project their clients’ retirement expenses based on the federal government’s Consumer Expenditures Survey data. The updated tool, now named the Retirement Expense & Income Calculator, features an income gap analysis and a Proposed […]

    AM Best Revises Issuer Credit Rating Outlook to Negative for Genworth Life and Annuity Insurance Company; Affirms Credit Ratings of Genworth Financial, Inc. and Its U.S. Life Subsidiaries

    {September 14th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B (Fair) and the Long-Term ICR of “bb+” (Fair) of Genworth Life and Annuity Insurance Company (GLAIC) (Richmond, VA). The outlook of the FSR is stable. Concurrently, AM […]

    Allianz Life Partners with iJoin and IPX to Offer Guaranteed Income Option

    {September 14th, 2021} by Allianz

    MINNEAPOLIS – Sept. 9, 2021 – Allianz Life Insurance Company of North America (Allianz Life) announced today that it has partnered with LDI-MAP (d.b.a. iJoin) and IPX Retirement to be the first company to provide a guaranteed income option on the iJoin platform. Recordkeepers and advisors using iJoin will be able to offer the Allianz Lifetime […]

    The Bermuda Triangle was Busy this Summer

    {September 13th, 2021} by Kerry Pechter

    Followers of what RIJ calls the “Bermuda Triangle” trend may have spotted a couple of large deals in that space this past summer—during that deceptively peaceful lull between mass vaccinations and the Delta surge. Click HERE to read the full story via RIJ

    Bermuda’s Role in a Changing Annuity Industry

    {September 13th, 2021} by Kerry Pechter

    Bermuda’s pink sand beaches and reliably blue skies are lovely, but the tiny archipelago in the Atlantic has an added appeal. Its financial regulatory climate makes it a perfect domicile for the reinsurance operations of life insurers and, to an increasing degree, private equity companies. Click HERE to read the full story via RIJ

    SEC’s New Ad Rule Is Advisors’ Top Compliance Challenge: Poll

    {September 13th, 2021} by Melanie Waddell

    Registered investment advisors view the Securities and Exchange Commission’s new marketing and advertising rule as the “hottest” compliance topic this year, with the second-hottest being cybersecurity, according to a recently released Investment Adviser Association poll. IAA’s 2021 Investment Management Compliance Testing Survey, conducted with ACA Compliance Group, also found that firms would like the SEC […]

    Attention Insurers!

    {September 13th, 2021} by Wink's Intel Pros

    Ever wish you had the sales of a product handy while perusing the AnnuitySpecs/LifeSpecs site? Well, NOW YOU DO! Effective immediately, you will see the most recent product-level sales for each product as reported through Wink’s Sales & Market Report on the Product Specs, Product Search results, Product Rates, and Side-by-Side comparisons. Hooray for convenience! (Must […]

    Episode 114: We Love Annuities with Sheryl Moore

    {September 13th, 2021} by That Annuity Show

    Summer is almost over. What’s the outlook for the annuity industry as we head back to our (virtual) offices? Sheryl Moore is the perfect guest to provide us with predictions and savvy forecasts. She graciously joins us today to talk about changes in carrier ownership, product design changes and regulatory evolution.   Also, do you […]

    Goldman Sach spinoff powering FIG’s new annuity and investment dashboard

    {September 13th, 2021} by Financial Planning

    Financial Independence Group, a company that connects independent financial advisors with insurance products, is using technology originally developed by Goldman Sachs to power a new advisor dashboard that brings together annuities with structured investments. The new platform, dubbed Quinci, aims to be a one-stop-shop for advisors to access a digital marketplace of fixed and registered […]

    LIMRA and the Society of Actuaries Research Institute Announce New Partnership on Experience Study Data Collection

    {September 13th, 2021} by LIMRA and SOA

    WINDSOR, Conn. and SCHAUMBURG, Ill., September 8, 2021 – LIMRA and the Society of Actuaries (SOA) Research Institute announced today a new three-year partnership to collect and process data to be used in industry-wide experience studies. Through this partnership, LIMRA and the SOA Research Institute will be able to continue developing in-depth experience study reports and […]

    J.P. Morgan Helps 401k Participants in Retirement with SmartRetirement Plus, Incorporating a Protected Lifetime Income Solution from AIG Life & Retirement

    {September 13th, 2021} by J. P. Morgan Asset Management

    NEW YORK, Sept. 9, 2021 /PRNewswire/ — J.P. Morgan Asset Management today announced plans to launch SmartRetirement Plus, a unique retirement income solution for American workers. SmartRetirement Plus will pair J.P. Morgan Asset Management’s retirement investment funds and spending intelligence with AIG Life & Retirement’s IncomEdge Control annuity[1]. AIG Life & Retirement is an innovator in protected lifetime income […]

    After the 9/11 Attacks, Wall Street Bolstered Its Defenses

    {September 13th, 2021} by Alexander Osipovich

    The nearly weeklong stock-market shutdown that followed the Sept. 11 attacks seems unimaginable in today’s world of round-the-clock trading. During the past 20 years, advances in technology and broad efforts to bolster U.S. market infrastructure have made such outages rare. Last year, when the coronavirus pandemic led to plunging stock prices, record volumes and an […]

    Life Insurance Awareness Month is Here: Kelly Rowland & Life Happens Urge Americans to Talk About Life Insurance

    {September 7th, 2021} by LIfe Happens

    ARLINGTON, Va., Sept. 1, 2021 /PRNewswire/ — Life Happens, a national nonprofit educating consumers about the importance of life, disability and long-term care insurance in a complete financial plan, today launches its annual Life Insurance Awareness Month (LIAM) campaign with four-time Grammy award-winning singer, songwriter, producer, humanitarian and mother Kelly Rowland. Life Happens’ partnership with Kelly seeks to […]

    NCOIL HIGHLIGHTS LIFE INSURANCE AWARENESS MONTH

    {September 7th, 2021} by NCOIL

    Manasquan, NJ – Congress has designated September as “National Life Insurance Awareness Month”.  The National Council of Insurance Legislators (NCOIL) applauds this designation. NCOIL focuses on this campaign to serve as a reminder to families of the value of life insurance and encourage them to perceive life insurance as an investment into their families’ security. […]

    OneAmerica Affirmed by A.M. Best with A+ (Superior) Rating

    {September 7th, 2021} by OneAmerica

    INDIANAPOLIS, Aug. 31, 2021 /PRNewswire/ — OneAmerica®http://www.oneamerica.com/ today reported that A.M. Best has affirmed the financial strength rating A+ (Superior) for insurance companies of OneAmerica, including American United Life Insurance Company® (AUL) and its affiliate, The State Life Insurance Company® (State Life). The ratings analyze the financial strength and performance of the companies and the ability to meet existing obligations. The A+ (Superior) […]

    Looking For Life Amid COVID-19

    {September 7th, 2021} by John Hilton

    Elaine Tumicki has tracked life insurance sales data for decades and has never been more excited than right now. Her enthusiasm is rooted in the new post-pandemic realities. To keep it simple, life insurance is a hot property. Click HERE to read the full story via INN

    NAIC Giving States The Answers

    {September 7th, 2021} by John Hilton

    Insurance regulators are having substantial success in pushing to get states to adopt a best-interest update to annuity sales rules. Whether it is enough success and happening fast enough is yet to be determined. As of press deadline, at least 15 states had adopted some form of the new NAIC update to the Suitability in […]

    Death Benefit Claim Fail #LIAM Reprint

    {September 7th, 2021} by Sheryl J. Moore

      As the nation’s top expert on life insurance and annuity products, I have spent a great deal of my time over the last couple of decades pouring-over specimen contracts and prospectuses. It’s what I do. It’s why I’m the life of the party.   Given that, I am going to admit to you one […]

    I Give a Damn About Life Insurance – You Should Too! #LIAM Reprint

    {September 7th, 2021} by Sheryl J. Moore

    Starting out in the insurance industry 20 years ago, there was one thing that I learned quickly and that was life insurance was a necessity. Life insurance guards against the risk of dying unexpectedly. And let’s face it – we’re all going to die. For that reason alone, I thought that I should purchase life […]

    Consumer Group Urges Congress To Cut Regulatory Barriers To Index-Linked Annuities

    {September 7th, 2021} by Tracey Longo

    It’s not every day the Consumer Federation of America aligns its lobbying interests with the annuities industry, but the powerful group is making an exception, sending a letter to lawmakers asking them to pass legislation that would allow companies to streamline their registration and create more meaningful disclosures for index-linked annuities products. The bipartisan “Registration […]

    Looking gender bias straight in the eye

    {September 7th, 2021} by Mallory Hendry

    Growing up in what can only be described as a real-life version of the movie My Big Fat Greek Wedding, Fotini Iconomopoulos’ father bestowed upon her the nickname of “The Negotiator,” and she wore that label proudly. “Girls were expected to speak only when spoken to, but I challenged the gender norms of my upbringing,” Iconomopoulos said. […]

    The Best-Selling Indexed Annuity Has Changed. The Issuer Hasn’t.

    {September 7th, 2021} by Cyril Tuohy

    Allianz 222 held the No. 1 position for 21 consecutive quarters, then ceded its perch in the last three months of 2020 to Allianz Benefit Control, data from Wink’s Sales & Market Report show. Allianz Benefit Control was then the top-selling indexed product in the first quarter and Wink expects it to repeat that dominance for the second […]

    California Supreme Court Rules That Life Insurers Must Give Proper Cancellation Notices and Grace Periods to All Policyholders Before Terminating Policies

    {September 7th, 2021} by Nicholas & Tomasevic

    SAN FRANCISCO, Aug. 30, 2021 /PRNewswire/ — Today, the California Supreme Court ruled that legislation added to the Insurance Code on January 1, 2013, provide safeguards for all policyholders and beneficiaries, including existing ones, not just those who had policies issued on or after January 1, 2013. The following protections apply to all life insurance policies in force on or […]

    Aflac Launches Awareness Campaign During National Sickle Cell Awareness Month

    {September 7th, 2021} by Aflac

    COLUMBUS, Ga., Sept. 1, 2021 /PRNewswire/ — Aflac, a leading provider of supplemental insurance in the U.S. and a strong supporter of children with cancer and blood disorders, announced today that the company is commemorating National Sickle Cell Awareness Month with several educational initiatives and activities throughout the month and beyond. Beginning in early 2022, Aflac will expand […]

    LIMRA: First Half of 2021 Had Highest U.S. Life Insurance Policy Sales Growth Since 1983

    {September 7th, 2021} by LIMRA

    WINDSOR, Conn., Sept. 1, 2021 /PRNewswire/ — In the first six months of 2021, the total number of policies sold increased 8%, compared with prior year results. This is the highest policy sales growth recorded since 1983, according to LIMRA’s Second Quarter U.S. Individual Life Insurance Sales Survey. Total U.S. life insurance premium increased 21% in the second quarter […]

    American Families Overconfident But Underprepared For An Unexpected Death, According To New USAA Data

    {September 7th, 2021} by USAA

    SAN ANTONIO, Sept. 1, 2021 /PRNewswire/ — End-of-life planning is not a popular conversation topic — so much so that Americans feel more comfortable talking about politics (68%) than about planning for an unexpected death (62%). In a new survey, USAA Life Insurance Company explored how American civilian and military families talk about and prioritize life insurance and […]

    LifeQuotes.com Reminder: September is Life Insurance Awareness Month; Prices Fall to All-Time Lows

    {September 7th, 2021} by LifeQuotes.com

    DARIEN, Ill., Sept. 1, 2021 /PRNewswire/ — LifeQuotes.com, the online insurance broker that offers instant, comparative quotes from 40 leading life insurers and allows customers to purchase from the company of their choice, today reminds consumers that September is Life Insurance Awareness Month and that life insurance prices are now at all-time lows. Michell Zieba, vice president, […]

    Fidelity National Financial, Inc. Announces Virtual Participation at Barclays Global Financial Services Conference

    {September 7th, 2021} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., Sept. 1, 2021 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (the “Company”) today announced that the Company’s President, Mike Nolan, Chief Financial Officer, Tony Park, and F&G’s President and Chief Executive Officer, Chris Blunt, will participate in a fireside chat at the Barclays Global Financial Services Conference at 7:30 a.m. Eastern Time on Wednesday, September 15, 2021.  A live webcast […]

    Workers’ savings just don’t match expected retirement income, survey finds

    {September 7th, 2021} by Kate Dore

    Most workers over age 40 don’t have sufficient retirement savings and aren’t setting aside enough to catch up, according to a survey from the Insured Retirement Institute. Despite the nest egg shortfall, many still expect to retire early and believe they will have ample retirement income.     More than half of older Americans have less than $50,000 […]

    Sun Life U.S. moves Connecticut office to downtown Hartford

    {September 7th, 2021} by Sun Life

    WINDSOR, Conn., Aug. 31, 2021 /PRNewswire/ — Sun Life U.S. announced plans to move its Connecticut office to One Financial Plaza, also known as “The Gold Building,” at the corner of Main and Pearl Streets in downtown Hartford. Sun Life will occupy 47,000 square feet of space in one of the largest, most prominent office towers in Hartford. The building offers […]

    Want ‘Diamond Hands?’ Buy An Annuity!

    {September 7th, 2021} by John Nuemann

    The meme culture has produced a new class of investors and some important lessons for financial advisors and their clients. The Reddit crowd is seemingly unfazed by extreme volatility in stocks like GameStop or AMC because of a cherished talent they call “Diamond Hands.” Diamond Hands is the ability to stomach all of the risk, […]

    How annuities are labeled matters, new Morningstar research finds

    {September 7th, 2021} by Robert Steyer

    Clearly, Juliet Capulet never had to sell or market annuities. When Shakespeare’s tragic heroine asked “What’s in a name?” it was a plaintive cry that the intrinsic nature of humanity shouldn’t depend on someone’s definition. Morningstar Inc., Chicago, on the other hand, has found that a name can play a prominent role in the intrinsic […]

    This Life Insurance Awareness Month Is Different

    {September 6th, 2021} by Allison Bell

    Life Happens started the 2021 Life Insurance Awareness Month campaign today with plenty to talk about. The Arlington, Virginia-based nonprofit group has worked to spread the awareness message by developing a marketing guide and a pre-recorded webinar for agents and brokers. Life Happens also has brought in Kelly Rowland — a former member of the group […]

    Variable Universal Life Sales Roar Higher

    {September 6th, 2021} by Allison Bell

    A lull in the COVID-19 pandemic helped U.S. life insurers increase sales of individual life coverage in the second quarter. Total annualized premium revenue from new retail sales was 21% higher in the second quarter than in the second quarter of 2020, according to new insurer survey results from LIMRA. Click HERE to read the […]

    Why Do So Many Foreign Nationals Want U.S. Life Insurance?

    {September 6th, 2021} by Michael Gomez

      The U.S. life insurance industry enjoys a number of advantages over other countries, making it increasingly attractive to non-U.S. citizens and residents, namely high death benefit capacity, comparatively low insurance costs, well-capitalized insurers, stable currency and a robust regulatory environment.  This edge has led to more U.S. life insurance companies creating formal foreign national […]

    5 Lessons on Investment Indexes Used by Insurers, Other Firms

    {September 1st, 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 […]

    Luma Financial Technologies Introduces Latest Annuity Feature: “Luma Compare

    {September 1st, 2021} by Luma Financial Technologies

        CINCINNATI–(BUSINESS WIRE)–Luma Financial Technologies (“Luma”), the world’s top independent and most objective, multi-issuer structured products and annuities platform, is pleased to announce the onboarding of their latest annuity-focused tool, “Luma Compare.” Luma Compare, which lives within Luma’s award-winning platform, removes many of the past challenges that advisors faced when transacting in the annuity […]

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