I am no tax expert.
{March 1st, 2022} by Sheryl J. Moore
I am no tax expert. However, I know that I have people in #TheAlmightyNetwork that are. So, a friend posed this question: Can you fund an annuity with a ROTH account and turn on a Guaranteed Lifetime Withdrawal Benefit rider, giving the client tax-free income for life? If so, which carriers allow it? I’m thinking “YES,” just […]
Hard Core Annuity Users Reveal How Many They Own and Why
{March 1st, 2022} by Cyril Tuohy
Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, said she saw her 401(k) evaporate into a “201(k)” when the dot.com bubble burst in 2000. The collapse scarred her for life. “I relied on my church just for milk for my kids to get by,” she told Orchard. Today, Moore owns two indexed annuities, […]
Advisors Keep Spurning Annuities Despite Investor Interest In Income
{March 1st, 2022} by Raymond Fazzi
Young adults have a mounting desire for retirement income products, but if it’s annuities they’re looking for, they’re largely on their own, according to a new survey. That’s because the survey, released today by Escalent, also found a continued aversion to annuities among financial advisors, as well as a lack of platforms that allow annuity […]
Rise in Non-Covid-19 Deaths Hits Life Insurers
{March 1st, 2022} by Leslie Scism
U.S. life insurers, as expected, made a large number of Covid-19 death-benefit payouts last year. More surprisingly, many saw a jump in other death claims, too. Industry executives and actuaries believe many of these other fatalities are tied to delays in medical care as a result of lockdowns in 2020, and then, later, people’s fears […]
As Participants Shun Annuities, Some Are Depleting Savings Quickly
{March 1st, 2022} by Rebecca Moore
Asked what they will do with the money in their employer-sponsored retirement account when they retire, nearly one-quarter (23%) of participants surveyed by AllianceBernstein said they would rollover their funds to an individual retirement account, while 18% said they would leave their money in the plan. Five percent indicated they would take a lump-sum distribution. […]
Lawsuits against DOL won’t change client strategy: Reish
{March 1st, 2022} by Editorial Staff
In a webinar this week, attorney Fred Reish of the law firm of Faegre-Drinker noted that his corporate clients are aware of the two federal lawsuits in Texas that are challenging the Biden Department of Labor’s efforts to regulate the way financial advisers can talk to 401(k) participants about rollovers. Click HERE to read the […]
Pan-American Life Insurance Group Reports 2021 Financial Results
{March 1st, 2022} by Pan-American Life Insurance Group
NEW ORLEANS–(BUSINESS WIRE)–Pan-American Life Insurance Group (PALIG), a leading provider of life, accident and health insurance throughout the Americas, announced today financial results for the full year ending December 31, 2021. “Over the past two years, as the pandemic has taken its tragic toll, we have upheld our promise to our customers to be there […]
Securian Financial Announces 2021 Results
{March 1st, 2022} by Securian Financial
ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial announced 2021 results at its recent annual employee meeting. Revenue and overall sales grew, and the company fulfilled its purpose of being there for people who count on it—including providing nearly $850 million in COVID-19 related death benefits. “2021 was a successful year for Securian Financial despite continued challenges posed […]
Two-Thirds of Investors Cite Growth as Primary Financial Goal1, Says New Data From Lincoln Financial Group as the Company Launches Fixed Annuity Product Enhancement
{March 1st, 2022} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–A new study from Lincoln Financial Group (NYSE: LNC) reports that more than two-thirds of surveyed investors – 67% total – cited growth as their primary financial goal.2 Now, the company is reinforcing its commitment to long-term asset growth and portfolio diversity by expanding its flagship fixed indexed annuity, Lincoln OptiBlend®, to include the 1 Year […]
Reliance Standard Launches New Annuity Product: Reliance Accumulator
{March 1st, 2022} by Reliance Standard Life Insurance Company
PHILADELPHIA–(BUSINESS WIRE)–Reliance Standard Life Insurance Company has introduced a new annuity product for use by individuals seeking to preserve capital and generate steady returns. The Reliance Accumulator™ is a fixed index annuity product that builds on the success of Reliance Standard’s legacy Keystone Index annuity, which will continue to remain available. “So we decided to […]
Protective to Host 2022 Annual Company Update Webcast
{March 1st, 2022} by Protective
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (“Protective”), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750, “Dai-ichi”), will host its Annual Company Update webcast on March 30, 2022, from 10 – 11 a.m. CDT. Company leaders will discuss Protective’s 2021 financial results, current business strategy and 2022 outlook. Updates will be provided by Protective’s President […]
Retirees Depleting Retirement Plan Lump Sums Faster than Five Years Ago
{March 1st, 2022} by Metlife
NEW YORK–(BUSINESS WIRE)–When approaching retirement, employees are faced with a decision that can have lifelong implications: take a lump sum payment or a guaranteed monthly annuity from their employer-sponsored defined contribution (DC) plan. According to MetLife’s 2022 Paycheck or Pot of Gold Study℠, a growing proportion of retirees are depleting their lump sums at faster […]
Defined Contribution Plans and Annuities Amid Volatile Markets
{March 1st, 2022} by David Blanchett
There has been a significant increase in interest surrounding guaranteed income, especially for defined contribution plans recently. However, uptake of annuities in DC plans has been relatively slow despite innovations in the space and a growing agreement regarding their potential value. Products that offer guaranteed income, such as annuities, have the potential to radically simplify […]
Pennsylvania Passes Best Interest Annuity Rule
{March 1st, 2022} by Patrick Donachie
Pennsylvania is the 19th state to pass a “best interest” rule concerning annuity sales and recommendations based on the National Association of Insurance Commissioners’ (NAIC) model rule originally finalized in 2020. Others may follow shortly: North Carolina recently released its own proposed rule, joining several other states considering proposals modeled on the NAIC’s work, according to the […]
Ameritas earns 15th BenchmarkPortal Center of Excellence certification
{March 1st, 2022} by Ameritas
LINCOLN, Neb., Feb. 23, 2022 /PRNewswire/ — For the 15th consecutive year, the Ameritas group division earned BenchmarkPortal’s Center of Excellence certification. To earn it, contact centers must meet or surpass strict standards each year. Because of this, Center of Excellence recognition is one of the most prestigious awards in the customer service and support industry. With […]
Integrity Expands Retirement Planning Expertise by Partnering with The Foschini Group
{March 1st, 2022} by Integrity Marketing Group
DALLAS, Feb. 24, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), an omnichannel insurtech leader in life, health and wealth solutions, today announced it has acquired The Foschini Group, a retirement planning and registered investment advisor (“RIA”) based in Connecticut. As part of the acquisition, Al Foschini, President of The Foschini Group, will become a Managing Partner in Integrity. Financial […]
Nationwide, Labrador Systems partner to pilot new generation of assistive robots
{March 1st, 2022} by Nationwide
COLUMBUS, Ohio, Feb. 22, 2022 /PRNewswire/ — One of the nation’s largest insurance and financial protection companies is partnering with an early-stage robotics company with a shared vision of helping people remain independent at home as they age or face short term and long-term health issues. Columbus-based Nationwide and Southern California-based Labrador Systems announced today a multi-state pilot program that […]
DALBAR Recognizes AIG Life & Retirement for Award-Winning Customer Experience Across Service Channels
{March 1st, 2022} by DALBAR, Inc
MARLBOROUGH, Mass., Feb. 22, 2022 /PRNewswire/ — DALBAR is excited to announce that AIG Life & Retirement has earned DALBAR’s Customer Experience Excellence Award for the third consecutive year. This award recognizes the work that AIG Life & Retirement has done to ensure an industry-leading customer experience across different service channels. “AIG Life & Retirement continues to make an already […]
FNF Reports Fourth Quarter and Full Year 2021 Financial Results
{March 1st, 2022} by Fidelity National Financial, Inc.
ACKSONVILLE, Fla., Feb. 23, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE:FNF) (the Company), a leading provider of title insurance and transaction services to the real estate and mortgage industries and a leading provider of insurance solutions serving retail annuity and life customers and institutional clients through FNF’s wholly-owned subsidiary, F&G, today reported financial results for the fourth […]
Nationwide reports record earnings in 2021 for its insurance and financial services business
{March 1st, 2022} by Nationwide
COLUMBUS, Ohio, Feb. 28, 2022 /PRNewswire/ –Nationwide—one of the largest and most diversified insurance and financial services companies in the United States—reported 2021 earnings results today that were the strongest in the Fortune 100 company’s history. These results were achieved all while paying more than $18 billion in claims and benefits payments to its members in a year marked […]
Integrity Partners with J. Helbig & Company to Better Serve Federal Employees with Their Insurance Needs
{March 1st, 2022} by Integrity Marketing Group
DALLAS, Feb. 22, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), an omnichannel insurtech leader in life, health and wealth solutions, today announced it has acquired J. Helbig & Company, a life and annuities agency serving federal employees. As part of the acquisition, Jim Helbig, President of J. Helbig & Company, will become a Managing Partner in Integrity. Financial […]
Let’s Rename Retirement
{March 1st, 2022} by Harry N. Stout
We call it retirement. Today it is not. A new reality is apparent for millions of Americans. Most of us dream of the time when we finally stop having to work full-time. It is the event that allows us to regain control of our time such that each day is a weekend. I believe we […]
Duguay to Lead Life Insurers Council Board
{March 1st, 2022} by Allison Bell
Francois Duguay is taking over from Byron Allen as the chair of the LOMA Life Insurers Council (LIC) advisory board for 2022. Duguay is the chief actuary at Optimum Re Insurance Co., a Dallas-based arm of the Optimum Group of Montreal. The reinsurer is best known for its life insurance and critical illness insurance operations. […]
Life Rating Analysts Start to Think About Ukraine
{March 1st, 2022} by Allison Bell
Rating analysts are starting to wrestle with ideas about what Russia’s invasion of Ukraine might mean for U.S. life and annuity issuers. Russia launched a broad land, sea and aerial attack on Ukraine around 10 p.m. Eastern time Wednesday (5 a.m. Thursday in Kyiv, Ukraine’s capital). Click HERE to read the full story via ThinkAdvisor
NAILBA Creates Career Center
{March 1st, 2022} by Allison Bell
The National Association of Independent Life Brokerage Agencies has set up a new website section. The new NAILBA Career Center site offers self-service tools both for companies that want to post information about openings and for job hunters who want to post resumes. Click HERE to read the full story via ThinkAdvisor
Some Insurance Fund Managers Have a Toe in Russia
{March 1st, 2022} by Allison Bell
Some life insurers may have a good view of the effects of the Russia-Ukraine war on world financial markets. Some offer variable annuities with separate account options that link crediting rates to the performance of Russian issuers’ stocks and bonds. Other life insurers have asset management arms with exposure to Russia-linked investments through mutual fund […]
‘Women in FinCrime’ Event Set for March 3
{March 1st, 2022} by Janet Levaux
The third AML Intelligence Women in FinCrime Summit, held in celebration of International Women’s Day, will take place on March 3 and feature leaders and regulators from across the world focused on anti-money laundering efforts, according to the organization. The online event will have two plenary sessions — one held during the workday in Europe […]
Transamerica Names an Annuity Distribution Strategist: Personnel Moves
{March 1st, 2022} by Allison Bell
Transamerica has hired Jonathan Cressman to be vice president and managing director for annuities wholesale distribution in the company’s individual solutions division. The company is a Baltimore-based arm of Aegon. Click HERE to read the full story via ThinkAdvisor
AM Best to Moderate Life & Annuity Regulatory Panel at ACLI ReFocus
{March 1st, 2022} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best Managing Director Ken Frino will moderate a life and annuity-focused panel discussion next month at ReFocus, an insurance industry conference event being co-hosted by the American Council of Life Insurers and the Society of Actuaries (ACLI) in Las Vegas, NV. “Why Insurers Are Divesting Blocks of Life and Annuity Business: The Regulator […]
Go Ahead, Retire at 62 and Claim Social Security at 67. Your Benefit Will Climb.
{March 1st, 2022} by Nick Fortuna
Q: What’s a tax-efficient way to protect the holdings in my taxable investment account from inflation? Savers with a moderate risk tolerance should consider blue-chip stocks that offer qualified dividends or an exchange-traded fund made up of those companies, Shuchman says. Qualified dividends are subject to tax rates for long-term capital gains, while ordinary dividends […]
Women’s History Month
{March 1st, 2022} by Wink's Intel Pros
As we have entered Women’s History Month and International Women’s Day approaches, we want to give a shoutout to an inspiring industry leader, our rock star Sheryl Moore. How Sheryl Moore grew into one of the life and annuity industry’s leading product experts, check out this feature article “From Stay-at-Home mom to Insurance Evangelist” page […]
Tougher DOL Fiduciary Rule May Target One-Time Transaction Fees
{March 1st, 2022} by Tracey Longo
Securities specialists at a prominent law firm are predicting that the U.S. Department of Labor will soon unveil a more expansive fiduciary rule for advisors. Senior attorneys at Faegre Drinker expect the DOL will move forward with a fiduciary rule that would clarify that even advisors who engage in one-time transactions involving the rollover of […]
