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Archive for April 2022

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  • Sunset Life Insurance Company of America Renamed Ibexis Life & Annuity Insurance Company Ahead of New Product Launch

    {April 26th, 2022} by Ibexis Life & Annuity Insurance Company

    Received A- (Excellent) Rating from AM Best in Advance of Launch NEW YORK, April 25, 2022 /PRNewswire/ — Sunset Life Insurance Company of America (“Sunset Life”) announced today it will be renamed Ibexis Life & Annuity Insurance Company (“Ibexis”) as it relaunches the brand under new leadership and direction. Following the appointment of CEO Nate Gemmiti and a significant capital investment […]

    Ibexis Life Hopes to Launch Its First Product by June 30

    {April 26th, 2022} by Allison Bell

    An insurer backed by Investcorp is moving ahead with efforts to enter the U.S. fixed annuity market. The new annuity market player, Ibexis Life & Annuity Insurance Co., said Monday that it intends to introduce a contract by June 30. Click HERE to read the full story via ThinkAdvisor

    We lost a great one, friends.

    {April 26th, 2022} by Sheryl J. Moore

    Sitting here, mourning the loss of my friend Van Lumbard from TruChoice Financial. My thanks to Brian Peterson for the heads up. We lost a great one, friends. My favorite memory of Van was the very first time I met him. When I introduced myself (at the age of 25) as the nation’s top expert on indexed annuities, he gave […]

    TruChoice Mourns Loss of Longtime Ann Arbor Annuity Exchange President, Van A. Lumbard

    {April 26th, 2022} by Newswire

    Lumbard, 75, was a highly respected 48-year veteran of the insurance industry   MINNEAPOLIS – April 19, 2022 – (Newswire.com) TruChoice Financial Group, LLC, announced today that longtime insurance industry leader, Van A. Lumbard, passed away on April 13, 2022, surrounded by family and friends. Lumbard, 75, spent the final 25 years of his distinguished career as the president of […]

    AM Best Affirms Credit Ratings of Athene Holding Ltd. and Its Subsidiaries; Assigns Credit Ratings to Athene Annuity Re Ltd.

    {April 26th, 2022} 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 ICRs) of “a+” (Excellent) of the members of Athene Group (Athene). Athene, which is focused on the pension group annuity, funding agreement, fixed indexed and fixed annuity market segments, is the consolidation of the organization’s […]

    AM Best Affirms Credit Ratings of Ameritas Life Insurance Corp. and Its Subsidiary

    {April 26th, 2022} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Ameritas Life Insurance Corp. (Lincoln, NE) and Ameritas Life Insurance Corp. of New York (New York, NY). These insurance entities comprise the life/health operations of Ameritas Mutual Holding Company (all companies are collectively […]

    Blackstone Doubles Insurer Assets, Faces Questions About Role

    {April 26th, 2022} by Allison Bell

    Blackstone loves managing assets for insurers, but it has no interest in assuming a large amount of investment risk itself. Blackstone Executives talked about the skin-in-the-game idea Thursday, during a conference call the company held to go over first-quarter earnings with securities analysts. Click HERE to read the full story via ThinkAdvisor

    Insurance Is a People Business: MassMutual’s John Vaccaro

    {April 26th, 2022} by Allison Bell

    For many Americans who will have the resources to enjoy a comfortable retirement, John Vaccaro’s name could go somewhere in the credits. Vaccaro is head of MassMutual Financial Advisors and CEO of MML Investors Services. The units have built a network that includes about 7,500 career agents and registered representatives. The agents and reps sell […]

    Fidelity Launches ‘Gamified’ Educational Metaverse Experience

    {April 26th, 2022} by Jeff Berman

    Fidelity has launched a new financial educational tool called The Fidelity Stack that it said Thursday uses gamification to teach investors the basics of investing in exchange-traded funds including its new metaverse-themed fund. The Fidelity Metaverse ETF (FMET), announced April 12, is being listed by the firm this week on the Nasdaq Global Market. The […]

    AIG Will Do It. So Will Pru, Equitable and Lincoln…

    {April 26th, 2022} by Allison Bell

    Life and annuity issuers will begin reporting their earnings for the first quarter of this year on Wednesday, when Globe Life posts its results, sometime after 4 p.m. Eastern Daylight Time. Two large, publicly traded health insurers — UnitedHealth Group and Anthem — have already released their earnings. UnitedHealth reported higher net income on higher […]

    Life Insurers Are Testing Low-Code and No-Code Programming Systems

    {April 26th, 2022} by Allison Bell

    Life, health and annuity issuers are hungry for high-tech systems that can reduce their dependence on live-human software developers. Five of the 28 issuers that participated in an Aite-Novarica survey said they had low-code or no-code programming technology pilot projects under way, or were planning pilot projects for that technology, in the fourth quarter of 2021, according […]

    Life Insurance Is the Cornerstone of a Sound Financial Plan

    {April 26th, 2022} by Brian Swerdlow

    For most of us — even those of us involved, in some fashion, with financial services — discussing life insurance ranks right up there with talking about bunion surgery or debating the merits of a high fiber diet. In other words, it’s not that interesting, and there are a ton of things we’d rather be […]

    Onetime Summer Intern Takes Over as New York Life CEO

    {April 26th, 2022} by Allison Bell

    Craig DeSanto has taken over as the CEO of New York Life Insurance — a 177-year-old company that is one of the top issuers of individual life insurance and annuities. DeSanto succeeds Ted Mathas, who will continue to serve as board chairman but give up oversight over company operations. Mathas had been New York Life’s […]

    Bond Market Shift Gives Life and Annuity Issuers a Pay Raise

    {April 26th, 2022} by Allison Bell

    Global market gyrations and the Ukraine conflict are helping increase what U.S. life and annuity issuers earn on their bonds. Life insurers depend heavily on “corporate bond spreads” — the gap between what they pay customers for money, and what they can earn by “lending,” or renting, money to corporations and home buyers. Click HERE […]

    Pacific Life’s Whirlwind Month: New Hires, Dropped Products, Layoffs

    {April 26th, 2022} by Cyril Tuohy

    As one of their first actions, the company’s new leaders decided to kill Pacific PremierCare, a life insurance policy that also pays long-term care benefits. The decision might seem somewhat surprising, as not many companies are exiting the business, according to Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. “If anything, hybrid products are […]

    Pacific Life to Change Long-Term Care Product Strategy

    {April 26th, 2022} by Allison Bell

    Pacific Life says it will focus on selling long-term care benefits riders on cash-value life insurance policies, rather than life insurance policies with built-in LTC benefits. The Newport Beach, California-based insurer is discontinuing the sale of Pacific PremierCare Choice whole life policies with LTC benefits. The company is also ending the sale of Pacific PremierCare […]

    The Secret To Financial Security? Owning Life Insurance, Survey Says

    {April 26th, 2022} by LIMRA

    Arlington, Va. and Windsor, Conn., April 25, 2022―According to new findings from the 2022 Insurance Barometer Study, conducted jointly by nonprofit industry trade associations LIMRA and Life Happens, 2 in 5 parents say they are barely or not at all financially secure. This is increasingly critical, as most households haven’t prepared for the loss of a primary wage […]

    Selecting The Right Annuity Requires Dialogue & Partnership

    {April 26th, 2022} by Matthew Drinkwater

    With millions of Americans entering retirement over the next decade, many will benefit from the unique features of annuities. Although the core and defining value of annuities is guaranteed lifetime income, deferred annuity products offer various combinations of downside protection and upside potential. Investors of varying levels of risk tolerance will have an abundance of […]

    Kansas City Life Announces Election of Walter E. Bixby as President and Chief Executive Officer

    {April 26th, 2022} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., April 25, 2022 /PRNewswire/ — Kansas City Life Insurance Company (the “Company”) announced today that the Board of Directors has elected Walter E. “Web” Bixby, LLIF, as President and Chief Executive Officer of Kansas City Life Insurance Company. He is currently also Vice Chairman of the Board of Kansas City Life, President of Old […]

    Here’s How the IRS Can Monitor Clients’ Offshore Life, Annuity Arrangements

    {April 26th, 2022} by Allison Bell

    Investigators at the U.S. Government Accountability Office have come up with a list of federal tax forms and other data sources that could help government agencies track the use of offshore life insurance arrangements. The GAO developed the list in connection with a report on IRS oversight of micro-captive insurers. The report was prepared for […]

    Use an Annuity to Solve the Stretch IRA Problem: Idea File

    {April 26th, 2022} by Allison Bell

    Gary Mettler believes he has discovered a solution to a painful new estate planning problem: the death of the stretch IRA. Mettler — who bills himself as the “Annuity Maestro” — says the new IRS proposed required minimum distribution regulations show that taxpayers can get around the effects of the change by making single-premium immediate […]

    Ameriprise Financial Reports First Quarter 2022 Results

    {April 26th, 2022} by Ameriprise Financial Inc

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share   Return on Equity, ex AOCI (1)   Q1 2022     Q1 2022 GAAP $6.55   GAAP 55.9% Adjusted Operating $5.98   Adjusted Operating 49.9% Ameriprise increased its quarterly dividend 11 percent to $1.25 per share First quarter adjusted operating earnings per diluted share was […]

    Older Investors Blame Inflation, Low Interest Rates as They Worry About Retirement Income

    {April 26th, 2022} by Michael S. Fischer

    Sixty-one percent of retirement-age investors in a recent survey believe that low interest rates and rising inflation will make it harder to create a retirement income stream that will last their lifetime, Global Atlantic Financial Group reported this week. A quarter of participants said they are extremely or very concerned about the effect inflation will […]

    Integrity Adds Limitless Insurance Services to Offer Compelling New Opportunities for Agents and Agencies

    {April 26th, 2022} by Integrity Marketing Group

    Arizona-based IMO with strong social media recruiting expertise will use Integrity’s end-to-end platform to provide best-in-class technology, products and resources to agents DALLAS, April 21, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement […]

    Protecting Life Insurance Policies From Going Up In Smoke

    {April 26th, 2022} by Forbes Advisor

    The majority of Americans would lie about using marijuana, to obtain better life insurance quotes. Those living in the Northeast were found to be most likely to lie when applying for life insurance. Over two thirds (64%) of those living in Northeastern states would hide their marijuana usage, in order to get cheaper life insurance […]

    US life/annuity insurers’ revenue up by $35 billion: AM Best

    {April 26th, 2022} by Jack Willard

    According to a new AM Best report, publicly traded U.S life/annuity insurance companies saw a strong recovery in 2021, with a $35 billion increase in revenue to $297.5 billion. This recovery took place coming on the back of a modest increase in premiums as well as increases in net investment income and realised gains. Click […]

    Wink’s demo on What’s New!

    {April 25th, 2022} by Wink's Intel Pros

    Springtime is synonymous with new life. Keep tabs on newly launched products in the annuity and life insurance industry with the “What’s New” section of our analysis tools, AnnuitySpecs and LifeSpecs.   View a brief overview of What’s New: AnnuitySpecs Whats New LifeSpecs Whats New   Join us in May for our live quarterly webinar, […]

    NAILBA’s Perspectives: Things for clients to consider

    {April 19th, 2022} by Sheryl J. Moore

    I loved this issue of NAILBA’s “Perspectives” magazine, just because it showed all of the support for the NAILBA CHARITABLE FOUNDATION, and all of the great organizations that we raised money for! However, there is more good stuff in this issue, thanks to Pam Sheehan! I LOVED Tiffany Markarian‘s advice on digital marketing mistakes. Cynthia A. Tidwell‘s message on […]

    Remember when there were only 12?

    {April 19th, 2022} by Sheryl J. Moore

    As a part of my job, I try to take complex indexing methods on indexed insurance products, and describe them in easy-to-understand terms. (Yes, I read sample contracts and try to communicate them in plain language!) I just want to say that I cannot stand low interest rate environments because they result in more complex […]

    AIG Life & Retirement Introduces 5-Year Index Annuity for New York

    {April 19th, 2022} by AIG Life & Retirement

    NEW YORK–(BUSINESS WIRE)–AIG Life & Retirement, a leading provider of annuities, today announced the launch of Power Index 5 NYSM, a 5-year index annuity developed exclusively for New York and the latest addition to The Power Series of Index Annuities®. Power Index 5 NY is issued by The United States Life Insurance Company in the […]

    Pacific Life to Discontinue New Sales of Pacific PremierCare Choice and Pacific PremierCare Advantage Life Insurance Products

    {April 19th, 2022} by Pacific Life Insurance Company

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Effective May 2, 2022, Pacific Life’s Pacific PremierCare suite of products will no longer be available for new sales. This includes Pacific PremierCare® Choice one-year, five-year, 10-year, and lifetime premium whole life insurance products with long-term care (LTC) benefits1 and Pacific PremierCare Advantage Universal Life Insurance with Long-Term Care Benefits2 in California. “Pacific Life remains […]

    Munich Re Life US Enters Into a Definitive Agreement to Acquire Clareto, a Health Information Exchange That Provides Record Retrieval Services to the Life Insurance Industry

    {April 19th, 2022} by Munich Re

    NEW YORK–(BUSINESS WIRE)–Munich Re Life US (Munich Re) today announced that it has entered into a definitive agreement to acquire MedVirginia, Inc. d/b/a Clareto, one of the leading medical record retrieval companies for the life insurance industry. Through its partnership with more than 25 health information exchanges (HIEs) and electronic health record (EHR) software vendors, […]

    Symetra Introduces Accumulator Ascent IUL

    {April 19th, 2022} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra today announced the introduction of a new version of its Accumulator indexed universal life insurance (IUL) product — Symetra Accumulator Ascent IUL. The flexible-premium adjustable life insurance policy with index-linked interest options provides death benefit protection plus policy cash value growth potential that can help with future income needs. “Symetra is committed to […]

    Eagle Life Insurance Company® Announces New Indices and Growth Potential Options for FIA Products

    {April 19th, 2022} by Eagle Life Insurance Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Eagle Life Insurance Company®, a provider of fixed and fixed index annuities, has announced several enhancements designed to broaden diversification options and boost growth opportunities on its fixed index annuity portfolio. New indices and rider enhance growth, diversification options Eagle Life is adding two new index options and a Performance Rate […]

    AIG Names Investment Chief for Corebridge Spinoff

    {April 19th, 2022} by Allison Bell

    American International Group has picked Sabra Purtill to oversee investments for Corebridge Financial — an AIG spinoff that could come to life with about $256 billion in invested assets. The New York-based insurer is preparing to use Corebridge as the vehicle for turning the AIG Life & Retirement business into a separate company. Click HERE to read […]

    Paid-Out Commissions Rose in 2021. But There’s More to the Story.

    {April 19th, 2022} by Warren S. Hersch

    Wink CEO Sheryl Moore said in an email that the Department of Labor fiduciary rule could affect agent compensation, in particular on sales of tax-qualified annuities offered through employer-sponsored retirement plans. Click HERE to read the full story via LifeAnnuitySpecialist

    Oceanview Re Names Stelian Dragan President and Chief Business Development Officer

    {April 19th, 2022} by Oceanview Reinsurance Ltd

    HAMILTON, Bermuda–(BUSINESS WIRE)–Oceanview Reinsurance Ltd. (“Oceanview Re”), a Bermuda Class E insurance company, today announced that Stelian Dragan has been appointed President and Chief Business Development Officer, effective April 1, 2022. Mr. Dragan is based in Hamilton, Bermuda and will be responsible for directing the business development activities of Oceanview Re. “Stelian is an ideal […]

    Protective Furthers its Sustainability Commitment by Establishing a $1.5 Billion Sustainability-Linked Revolving Credit Facility

    {April 19th, 2022} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation, a wholly owned U.S. subsidiary of Dai‑ichi Life Holdings, Inc. (TSE:8750), and its principal subsidiary, Protective Life Insurance Company (together, “Protective”), today announced the recent closing of a five-year, $1.5 billion sustainability-linked revolving credit facility, which replaces its current $1.0 billion revolving credit facility. “At Protective, we are doing our part to […]

    American Equity Schedules First Quarter 2022 Earnings Release, Conference Call and Webcast

    {April 19th, 2022} by American Equity Life Investment Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) announced today that it will release first quarter 2022 earnings and other financial results after the close of market on Wednesday, May 4, 2022. The first quarter earnings release and financial supplement will be posted on the American Equity website at www.american-equity.com at that time. […]

    Global Atlantic Investor Outlook Study: Three Out of Five Investors Worry About Retirement Income, Blame Inflation and Low Interest Rates

    {April 19th, 2022} by Global Atlantic Financial Group

    NEW YORK–(BUSINESS WIRE)–A study from Global Atlantic Financial Group (Global Atlantic) revealed that three out of five retirement-age investors (61%) believe that low interest rates, combined with rising inflation, will make it harder to create a retirement income stream that will last their lifetimes. In addition, a quarter of participants (24%) said they are extremely or very […]

    Craig DeSanto Assumes New York Life Chief Executive Officer Position

    {April 19th, 2022} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest1 mutual life insurer, today announced that Craig DeSanto has assumed the company’s chief executive officer (CEO) position. Mr. DeSanto was named CEO-elect in November 2021 after serving as a member of New York Life’s Board of Directors since February 2021 and as New York Life’s president, a title he […]

    CUNA Mutual Group Reports Record Financials and Exceptional Growth Through 2021

    {April 19th, 2022} by CUNA Mutual

    MADISON, Wis., April 14, 2022 /PRNewswire/ — CUNA Mutual Group reported record financial performance and exceptional growth in 2021, delivering on the company’s purpose to make brighter financial futures accessible to more consumers. Through outstanding product growth, strategic investments and the largest acquisition in company history, CUNA Mutual Group ended the year with its strongest business and […]

    Wisconsin Governor Signs Annuity Suitability Update Bill

    {April 19th, 2022} by Allison Bell

    Wisconsin has become the 23rd state to adopt the new annuity sales standards created by the National Association of Insurance Commissioners. Gov. Tony Evers, a Democrat, signed S.B. 644 into law Friday. Click HERE to read the full story via ThinkAdvisor

    Life Application Activity Cools

    {April 19th, 2022} by Allison Bell

    U.S. individual life insurance application activity was soft in March when compared with March 2021, according to the new the new MIB life application activity report. The overall level of activity was 7.7% lower last month than in the year-earlier month, MIB says. Click HERE to read the full story via ThinkAdvisor

    I Love Annuities and You Should, Too!

    {April 19th, 2022} by Sheryl J. Moore

    If you have ever wondered why I am so passionate about educating people (specifically) about annuities, listen in. My thanks to Douglas Jones for the opportunity to share my story!

    6 Roadblocks Holding Advisors, Clients Back From Annuities

    {April 19th, 2022} by Ginger Szala

    In 1975, there were just over 311,000 private retirement plans in the United States. Of those, 103,346 were defined benefit, or pension plans, while 207,748 were defined contribution plans, according to statistics from the Employee Benefits Security Administration of the U.S. Department of Labor. In 2019, the total number of private company plans was 733,678. Only […]

    Sustainalytics Releases 2021 Annual Review of Pacific Life’s Sustainable Bond Framework

    {April 19th, 2022} by Sustainanalytics

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Sustainalytics, which provides high-quality, analytical environmental, social and governance (ESG) research, ratings and data to institutional investors and companies, has released its first annual review of Pacific Life’s Sustainable Bond Framework and $800 million ESG bond issuance from April 2021. Findings from the report include: All proceeds of the $800M ESG bond […]

    Aegon publishes agenda for 2022 Annual General Meeting

    {April 19th, 2022} by Aegon

    The Hague, April 19, 2022 – Today, Aegon N.V. has published the agenda for its Annual General Meeting of Shareholders (AGM) on Tuesday, May 31, 2022. The Executive Board will propose to the AGM that shareholders adopt the Annual Accounts 2021 and approve a final dividend for 2021 of EUR 0.09 per common share, which brings Aegon’s total dividend […]

    Financial Independence Group will build $22.3 million campus in Cornelius

    {April 19th, 2022} by Newsroom

    April 5. Financial Independence Group will build a state-of-the art corporate campus on a five-acre site on Westmoreland Road. The new $22.3 million campus will be home to Financial Independence Group (FIG) and three of its affiliate companies: Alphastar Capital Management, Barnabas Capital, and Independent Property and Casualty Group. The project will result in the […]

    Does Your Client Need an Annuity? Here’s a Formula to Help Decide

    {April 18th, 2022} by Ginger Szala

    As demand for guaranteed income is on the rise these days, advisors might need to be prepared when clients ask about annuities. These products allow clients to invest a lump sum to guarantee a future income stream, insuring against running out of money in retirement. Perhaps the first question from a client is, why bother? […]

    Hiring hybrid LTC/life insurance wholesalers?

    {April 18th, 2022} by Sheryl J. Moore

    Just got wind that an insurance company getting out of the hybrid LTC/life insurance market; the wholesalers received their pink slips.   If you are hiring wholesalers and work at an insurance company home office, please comment HERE to get the word out. Thanks!

    Is the Attack on Annuities Still Fair?

    {April 18th, 2022} by David Stone

    Last year, Citywire RIA published an article by Andrew Foerch, “Attack of the Annuities: Should RIAs Reevaluate the Controversial Insurance Product?” The piece offers a balanced analysis of the insurance products by giving voice to both proponents and detractors. Ultimately, he concludes that while annuities are making progress, they’re too controversial for many advisors to […]

    Anti-Annuity Advisors Shouldn’t Be in Business, ‘Stan the Annuity Man’ Says

    {April 18th, 2022} by Jane Wollman Rusoff

    The advisor who tells clients to never consider an annuity is “a fool” and “shouldn’t be in the financial business,” argues Stan Haithcock, otherwise known as Stan the Annuity Man, in an interview with ThinkAdvisor. Such financial advisors are ignoring the fact or not acknowledging that Social Security benefits and pensions are themselves annuities. Click […]

    QC-based Royal Neighbors reports record social impact of $20.5 million

    {April 18th, 2022} by Jonathan Turner

    Royal Neighbors of America, a fraternal benefit society based in Rock Island, reported Tuesday that they delivered $20.5 million in social impact in 2021. A membership organization that offers life insurance and annuity products, Royal Neighbors is driven by its mission of supporting women and serving communities, making social impact the cornerstone of their work, […]

    Integrity Partners with Honeycutt Insurance Marketing to Expand Life Insurance Distribution

    {April 18th, 2022} by Integrity Marketing Group

    DALLAS – APRIL 14, 2022 – Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire Honeycutt Insurance Marketing, an independent marketing organization (“IMO”) based in Victorville, California. As part of the acquisition, Tray Honeycutt, […]

    Maryland Enhances Protections For Annuity Consumers

    {April 18th, 2022} by TNStalk

    WASHINGTON, April 12 (TNStalk) — The American Council of Life Insurers issued the following joint statement with two organizations: * * * American Council of Life Insurers (ACLI) President and CEO Susan Neely, National Association of Insurance and Financial Advisors’ (NAIFA) former president and NAIFA MD member Paul Dougherty, and The League of Life and Health Insurers of Maryland Executive Director Matthew Celentano issued the following joint […]

    The Standard’s Latest Annuity, Enhanced Choice Index, Provides Performance Potential and Protection

    {April 12th, 2022} by The Standard

    PORTLAND, Ore.–(BUSINESS WIRE)–Recognizing an increased need for greater flexibility and adaptable options for clients, The Standard announces an expansion of its annuity offerings with the new Enhanced Choice Index (ECI). ECI is a single-premium deferred index annuity that offers features to optimize growth capabilities, including four distinct index interest crediting strategies. “This product series allows The Standard […]

    AM Best Removes From Under Review With Developing Implications and Upgrades Credit Ratings of Sunset Life Insurance Company of America

    {April 12th, 2022} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has removed from under review with developing implications and upgrades the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” ((Excellent) from “bbb+” (Good) of Sunset Life Insurance Company of America (Sunset Life) (Kansas City, MO). The outlook assigned to the Credit […]

    Maryland Adopts NAIC’s Annuity Sales Standards

    {April 12th, 2022} by Allison Bell

      Maryland has published the regulatory update in the Maryland Register. NAIFA has predicted that Wisconsin Gov. Tony Evers will sign that state’s bill soon. Hawaii also has a suitability update bill in the pipeline. The Maryland Insurance Administration has completed adoption of the annuity sales standards developed by the National Association of Insurance Commissioners. […]

    Top 10 Asset Classes Goldman Sachs Sees on Insurers’ Shopping Lists

    {April 12th, 2022} by Allison Bell

    The world’s insurers hold about $39 trillion in assets — and now inflation has climbed to the top of their economic worry list. Low interest rates have harried insurer asset managers for years. This year, rates are rising, but so are prices. Goldman Sachs Asset Management looks at insurers’ fears, and the strategies they’re using to manage […]

    NAIC Improves Insurance Regulators’ Tracking Tools

    {April 12th, 2022} by Allison Bell

    Regulators watched carefully to gauge the effects of the COVID-19 pandemic. They are using artificial intelligence tools to identify high-risk insurers. They have also added market conduct tracking tools. The National Association of Insurance Commissioners says it’s developing tools that will help member regulators do a better job of watching insurers. The Kansas City, Missouri-based regulator […]

    U.S. Life Insurers Looked Great in 2021: Fitch

    {April 12th, 2022} by Allison Bell

    COVID-19 led to a big increase in mortality. Net investment income grew more than life insurance claims. This year, an increase in interest rates could help insurers’ investment returns. The COVID-19 pandemic led to a historic spike in U.S. life insurance claims in 2021, but the life insurers’ Fitch Ratings did well. The rating agency […]

    The Psychology of Direct-to-Consumer Life Application: Accuracy

    {April 12th, 2022} by Peter Hovard

    Life insurers need complete, accurate information about an applicant to assess risk. The advisor-led application process may increase the odds of some kinds of application disclosure failures. The direct-to-consumer approach can lead to other types of disclosure failures. Behavioral science is helping life insurers with an important task: confirming that life insurance applicants have disclosed […]

    IRI Sees Strong Sales of Plain-Vanilla Fixed Annuities

    {April 12th, 2022} by Allison Bell

    A new U.S. individual annuity market report shows that sales of plain-vanilla fixed products soared in the fourth quarter of 2021. Sales of book value fixed annuities increased 50% between the fourth quarter of 2020 and the latest quarter, to $6.6 billion, according to the Insured Retirement Institute. A book value annuity is a traditional […]

    ETFs and Variable Annuities – A New Marketing Opportunity for ETFs

    {April 12th, 2022} by W. Thomas Conner, Nathaniel Segal, Jeremy I. Senderowicz

    On Tuesday, March 29, the U.S. House of Representatives passed the “Securing a Strong Retirement Act of 2022,” or, as it is already being called, “Secure 2.0.”  Secure 2.0 builds on the important retirement security legislation that Congress passed in 2019 — the “Setting Every Community Up for Retirement Enhancement Act,” or the “Secure Act.”  […]

    401(k) Investors With Annuities Are Less Likely to Trade

    {April 12th, 2022} by David Blanchett

    Guaranteed lifetime income, and annuities in particular, commonly are viewed as a way to simplify decisions around generating income in retirement. There are a myriad of assumptions, and uncertainties, related to withdrawing money from a portfolio in retirement. Allocating to products that provide guaranteed lifetime income is one way retirees can ensure that no matter how […]

    3 Insurance Stocks Worth Dipping Into During Tough Economic Times

    {April 12th, 2022} by INNsider Pro

    There were 5,929 insurance companies in the U.S. in 2020, according to the National Association of Insurance Commissioners, including 2,476 property casualty companies, 843 life/annuities companies, 995 health companies, 81 fraternal insurance companies, 62 title insurance companies, 245 risk retention groups and 1,227 others. Click HERE to read the for story via INNsider Pro

    Pacific Life Names CFO, Makes Other Moves as Button Takes Helm

    {April 12th, 2022} by Aaron Smith

    Pacific Life is one of the largest issuers of traditional variable annuities, with $5.58 billion of sales last year, according to the Secure Retirement Institute. It was the biggest seller of indexed universal life insurance for four years in a row, until National Life nabbed the top spot last year, according to market research firm Wink. Click HERE to […]

    More Young Adults Are Buying Life Insurance Thanks to the Pandemic—if They Can Get It

    {April 12th, 2022} by Francesca Fontana

    Before the pandemic, I didn’t think of life insurance as something I needed. Why would I? At the end of 2019, I was 25 years old and newly married. I had no children. The only time I thought about life insurance was when it came up as the killer’s hidden motive in true-crime documentaries. (I watch […]

    Take A Second Look At Guarantees

    {April 12th, 2022} by Grant Kvalheim

    Nobody knows anything,” might have been the downfall of certainty in Hollywood when screenwriter William Goldman wrote it in 1983, but in the financial services industry uncertainty is expected. And we know the best way to manage for uncertainty is to plan for it. If you’re worried about market volatility, you certainly aren’t alone. Today’s […]

    Mutual Of Omaha Ranks Highest For Digital User Experience Among Prospective Life Insurance Customers, UserZoom Study Finds

    {April 12th, 2022} by UserZoom

    First in Series of Benchmarking Reports for 2022 Finds Customer Frustration and Lack of Trust Lead to Missed Revenue, With Some Insurers Still Missing the Mark Key Findings:  Trust a key consideration in digital experience design Self Serve functionality is no longer optional, expected Modern functionality (best of breed consumer sites) drives consumer expectations Location […]

    Northwestern Mutual Boasts Record Number of Wealth Advisors in New Forbes “Best-In-State” Ranking

    {April 12th, 2022} by Northwestern Mutual

    MILWAUKEE, April 8, 2022 /PRNewswire/ — Northwestern Mutual announced today that over 100 of its financial advisors – more than ever before – have been listed among the best in their state according to a ranking by Forbes. “Northwestern Mutual’s dedicated and highly skilled financial advisors continue to set new standards and break records in wealth management,” said […]

    Financial Independence Group Set to Build New Corporate Headquarters in Cornelius, NC

    {April 12th, 2022} by FIG Marketing

    CORNELIUS, N.C., April 6, 2022 /PRNewswire/ — Financial Independence Group, LLC (FIG), a leading financial services conglomerate and a staple of the Cornelius, North Carolina community since 1998, will build a modern and elegant building and corporate campus that will be an exciting new community landmark on Westmoreland Road in Cornelius. The company will be moving from its current Cornelius headquarters near […]

    The Benefits of RILAs for Gen X Clients

    {April 12th, 2022} by Chris Grady

    Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. According to LIMRA, registered index-linked annuities (RILAs) sales for the first half of 2021 were 105% higher than the same period in 2020. They have maintained a 38% compound annual growth rate since they were introduced over 10 years ago1. What’s […]

    Jackson to Report First Quarter 2022 Financial Results

    {April 11th, 2022} by Jackson Financial Inc.

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) will announce financial results for the first quarter ended March 31, 2022 after market close Tuesday, May 10, 2022. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Wednesday, May 11, 2022 at 10 a.m. ET to review […]

    Best’s Special Report: U.S. Life/Annuity Insurers’ Revenues Rebounded in 2021

    {April 11th, 2022} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Publicly traded U.S. life/annuity insurance companies saw a strong recovery in 2021, with net income more than tripling to $32.5 billion in 2021 from the previous year, driven largely by a 13% boost in revenue, according to a new AM Best report. According to the report, the industry saw a $35 billion increase in revenue […]

    Lincoln Financial Network Financial Professionals Recognized as Leaders in Diversity and Inclusion

    {April 11th, 2022} by Lincoln Financial Group

    PHILADELPHIA–(BUSINESS WIRE)–Lincoln Financial Network (LFN), the retail wealth management affiliate of Lincoln Financial Group (NYSE:LNC), announced today that Angela Ribuffo, CFP®, RICP®, ChFC®, CDFA®, CLTC® and Lawrence T. Smith, CFP®, CRPC®, CRPS® have been recognized by InvestmentNews for their tireless efforts to promote diversity and inclusion in the finance industry. The InvestmentNews ‘See It, Be It’ role model award recognizes individuals who […]

    AIG Announces Results and Upsizing of Its Tender Offers for Certain Outstanding Notes

    {April 11th, 2022} by AIG

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today announced the results of its previously announced 23 separate offers (the “Offers”) to purchase for cash the notes of the series listed in the table below (collectively, the “Notes”) and that it has amended the Offers by increasing the applicable Maximum Purchase Consideration from $6.0 billion […]

    D2C term platform- Let me hear from you

    {April 11th, 2022} by Sheryl J. Moore

    Interesting bit of intel that I received today about a D2C term platform. Apparently, if you apply for a policy with a specific one of these services, they won’t deny you a policy, but will instead “counteroffer” with a lesser face amount/higher premium policy. This helps you so you don’t have to deal with that […]

    Term Conversion Smoking Status

    {April 11th, 2022} by Sheryl J. Moore

    I had someone tell me yesterday that they did a term conversion and the new policy was issued with a smoking status, which was the standard operating procedure on term conversions for the life insurance company. This really turned the agent off because the insured is not a smoker. Is it just me, or is […]

    Where to start if you want your kids to grow up financially savvy

    {April 11th, 2022} by Nicolas Vega

    If you want to raise financially savvy kids, consider leaving the lectures behind and starting with an allowance instead. One of the most important things you can teach your child is the importance of saving, says Rose Palazzo, former head of financial planning at Morgan Stanley and now head of MoneyGuide at advisory platform Envestnet. […]

    Workers Want Guaranteed Lifetime Income: Allianz Life’s Matt Gray

    {April 11th, 2022} by Allison Bell

    He hopes to help close the gap between what people have and what they’ll need. Matt Gray runs a major effort to add guaranteed lifetime income features to 401(k) plans and other defined contribution retirement plans. He’s hoping the new lifetime income push will improve retirement security for hundreds of thousands of people. Gray is […]

    For Every Life, There is a Story

    {April 5th, 2022} by Wink's Intel Pros

    April is Donate Life Month; this is a time to remember loved ones who gave the incredible gift of organ, tissue, and eye donation and to celebrate the impact made in the lives of recipients. This month, we remember Alexander M. Betts Jr. (AJ), the son of Wink’s CEO, Sheryl J. Moore and the significance […]

    Prudential Financial Completes Sale to Fortitude Re of $31B Block of Traditional Variable Annuities

    {April 5th, 2022} by Prudential Financial, Inc.

    NEWARK, N.J. & 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 the completed sale to Fortitude Re of a portion of Prudential’s legacy traditional variable annuity block. Consistent with the agreement announced on Sept. 15, 2021, Fortitude Re […]

    Prudential Financial completes sale to Empower of full-service retirement business

    {April 5th, 2022} by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) announced today the completion of the sale of its full-service retirement business to Empower, the second-largest retirement provider in the U.S. On July 21, 2021, Prudential announced it had entered into an agreement with Empower to sell its full-service retirement plan recordkeeping and administration business, inclusive of Prudential’s defined contribution, […]

    Empower Closes Acquisition of Prudential Financial Retirement Business

    {April 5th, 2022} by Empower

    GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–Empower today announced it has completed the previously announced acquisition of Prudential Financial, Inc.’s full-service retirement business. The $3.5 billion acquisition expands Empower’s reach to more than 17.1 million retirement plan participants with $1.4 trillion in assets under administration on behalf of approximately 71,000 clients.1 The transaction also includes more than 1,800 employees […]

    AIG Announces Proposed Senior Notes Offering by Corebridge Financial, Inc.

    {April 5th, 2022} by American International Group

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today announced that its majority-owned subsidiary, Corebridge Financial, Inc., intends to offer senior unsecured notes (the “Notes”) in connection with the previously announced separation of AIG’s Life & Retirement business. The Notes will be offered in a private offering exempt from the registration requirements of the U.S. […]

    AM Best Affirms Credit Ratings of Aspida Life Re Ltd., Assigns Credit Ratings to Aspida Life Insurance Company

    {April 5th, 2022} 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 Rating (Long-Term ICR) of “a-” (Excellent) of Aspida Life Re Ltd. (Aspida Life Re) (Bermuda). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has assigned an FSR of A- (Excellent) and a Long-Term […]

    Could FIAs Be A Cure For Dropping Bond Prices?

    {April 5th, 2022} by Doug Wolf

    Price hikes were widespread across sectors of the economy in 2021, according to the Federal Reserve’s Beige Book (December 2021). Rising interest rates sent bond prices lower, posting their first losses since 2013, and the prospect of continued rising interest rates could have a negative impact on bond markets in 2022. The Fed’s bond buying […]

    Meet Corebridge, AIG’s ‘Bermuda Triangle’ Venture

    {April 5th, 2022} by Kerry Pechter

    With the collaboration of private equity firms and a Bermuda-based reinsurer, American International Group (AIG) will soon spin off its $410 billion Life & Retirement division into Corebridge Financial, a new entity to be financed in an initial public offering. AIG expects an IPO this quarter, pending approvals. Click HERE to read the full story […]

    Wade Pfau: TIPS and Annuities Good Bets When Inflation Is High

    {April 5th, 2022} by Ginger Szala

    Higher inflation means advisors need to be more efficient in positioning client assets for retirement, says Wade Pfau, professor of retirement income at the American College of Financial Services and a prolific author, his most recent book being the “Retirement Planning Guidebook.” He also writes the Retirement Research blog with Bob French and Alex Murguia. In our […]

    The Industry Is Missing The Boat By Failing To Market To Women

    {April 5th, 2022} by Doug Bailey

    The financial services industry is leaving enormous sums of money on the table by ignoring or failing to attract women as potential customers. A recent study by global management consultant Oliver Wyman concluded that if insurers sold life insurance to women at the same proportion of their income as men, $500 billion in new written […]

    BANK INSURANCE & SECURITIES ASSOCIATION ANNOUNCES 2022 LEADERSHIP

    {April 5th, 2022} by BISA

    MIAMI BEACH, FL – The Bank Insurance & Securities Association (BISA) announces the appointment of six new members to serve on the association’s Board of Directors in addition to the full slate of officers and directors for 2022.   Joining the Board of Directors effective March 2022 are Scott Ford, President, U.S. Bank Wealth Management, […]

    Deeper Dive Into The Latest Technologies Impacting Life Insurance Digital Sales

    {April 5th, 2022} by Ken Leibow

    I attend many webinars and now finally travel to industry conferences. Speakers love to use analogies when attempting to make comparisons to hammer home a point. Sometimes it connects and sometimes it is just too way out there for the audience to understand. Either way, in 2022 we have turned the corner in life insurtech […]

    Horace Mann to announce first-quarter 2022 financial results on May 5

    {April 5th, 2022} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) plans to release its first-quarter 2022 results on Thursday, May 5, after the market closes. At that time, the quarterly news release, investor supplement and investor presentation will be available on the company’s website at investors.horacemann.com. Management will host a conference call to discuss the financial results on […]

    A Tale of Two Pandemics: Younger Americans Feeling Financially at Risk while Retirees Emerge Resilient

    {April 5th, 2022} by Allianz Life Insurance Company of North America

    MINNEAPOLIS–(BUSINESS WIRE)–As the United States passes the two-year mark of the COVID-19 pandemic, it’s becoming increasingly clear that there is a significant gap in the financial experience of younger Americans and their retired counterparts. Nearly two-thirds (63%) of non-retirees said they fear running out of money more than death, versus less than half (46%) of […]

    Symetra Affirms Commitment to Social Impact Across Community, Environment and Governance Practices with First Corporate Social Responsibility Program

    {April 5th, 2022} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra, a national provider of employee benefits, annuities and life insurance, today announced the launch of its first corporate social responsibility (CSR) initiative—Symetra Social Impact—establishing a strategic CSR roadmap and outlining program goals through 2025. Unified under an equity and inclusion framework that emphasizes social impact, the new program integrates community, environmental sustainability, […]

    Fortitude Re Announces $4 Billion Annuity Reinsurance Transaction with Taiyo Life Insurance Company, Its Inaugural Asia Reinsurance Transaction

    {April 5th, 2022} by Fortitude Re

    HAMILTON, Bermuda–(BUSINESS WIRE)–FGH Parent, L.P., (together with its subsidiaries, “Fortitude Re”), today announced the signing and closing of a $4 billion reinsurance transaction between its subsidiary Fortitude Reinsurance Company Ltd., Bermuda’s largest multiline reinsurer, and Taiyo Life Insurance Company (“Taiyo Life”), a wholly owned subsidiary of T&D Holdings, Inc (“T&D”). This transaction marks Fortitude Re’s […]

    AM Best Affirms Credit Ratings of RBC Life Insurance Company

    {April 5th, 2022} 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 Rating (Long-Term ICR) of “a+” (Excellent) of RBC Life Insurance Company (RBC Life) (Mississauga, Ontario). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect RBC Life’s balance sheet strength, which AM Best assesses as […]

    AM Best Removes From Under Review With Positive Implications, Upgrades Issuer Credit Rating of Prudential Retirement Insurance and Annuity Company

    {April 5th, 2022} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “aa” (Superior) from “aa-” (Superior) and affirmed the Financial Strength Rating of A+ (Superior) of Prudential Retirement Insurance and Annuity Company (PRIAC), headquartered in Newark, NJ. The outlook assigned to the Credit Ratings (ratings) […]

    MASSMUTUAL CHALLENGES MEDIA BIAS ABOUT WOMEN’S FINANCIAL ACUMEN

    {April 5th, 2022} by Grey

    Multi-Channel Marketing Campaign Highlights Commitment to Serving and Hiring Women NEW YORK, March 31, 2022 /PRNewswire/ — Massachusetts Mutual Life Insurance Company (MassMutual) this week launches a multi-channel marketing effort to raise awareness of and fight media myths that women are “bad with money.”  The centerpiece of the integrated effort is a print campaign from Grey New […]

    Integrity Expands on Life and Retirement Protection for Middle Market by Acquiring The Valdez Group

    {April 5th, 2022} by Integrity Marketing Group, LLC

    Fast-growing Ohio-based brokerage will capitalize on the technology and data science driving the Integrity platform to provide security and peace of mind to more Americans DALLAS, March 31, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement solutions, today announced it has entered into an agreement […]

    Group 1001 Becomes Majority Stakeholder in Women’s Sports-Focused Enterprise Parity

    {April 5th, 2022} by Group 1001

    NEW YORK, March 29, 2022 /PRNewswire/ — In a bold step to create lasting and meaningful change in women’s sports, Group 1001 will become a majority stakeholder in Parity, a startup created for both elite women athletes and their fans to combat gender pay inequities in professional sports. As part of the acquisition, Parity will have substantially increased funding […]

    TIAA Applauds House Passage of SECURE Act 2.0

    {April 5th, 2022} by TIAA

    NEW YORK, March 29, 2022 /PRNewswire/ — TIAA issued the following statement from Thasunda Brown Duckett, president and CEO, upon U.S. House passage of the Securing a Strong Retirement Act of 2022 (“SSRA”): “As a leading provider of retirement plans in the not-for-profit community, TIAA commends Congress’ efforts to further improve and modernize the private retirement system. […]

    Integrity Reinforces Commitment to Innovation by Acquiring Yellowstone Life Insurance Agency

    {April 5th, 2022} by Integrity Marketing Group, LLC

    Addition of financial services brokerage with virtual platform will further enhance Integrity’s mission to meet consumers where they are and put client needs first DALLAS, March 29, 2022 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement solutions, today announced it has entered into an agreement […]

    Annexus Retirement Solutions Announces Solution with State Street Global Advisors Aimed to Help Solve America’s Retirement Income Crisis

    {April 5th, 2022} by Annexus

    Financial firms set to launch target date fund designed to deliver better participant outcomes and greater lifetime income with a multi-carrier model featuring major insurance providers SCOTTSDALE, Ariz., March 31, 2022 /PRNewswire/ — Retirement income solution innovator Annexus Retirement Solutions announced today that it has joined forces with State Street Global Advisors, the world’s 4th largest asset manager1, to […]

    From Single Mom To ‘Legendary’ Advisor — With Robelynn Abadie

    {April 5th, 2022} by John Hilton

    Robelynn Abadie walked away from an abusive first husband with nothing. No home, no car, no money and no job. She did have two toddlers — daughter Melissa and son Jason. To say the future looked bleak would be underselling bleakness. “I was a train wreck,” Abadie recalled. Click HERE to read the full story […]

    Regulators Scrutinize Private Equity’s Impact On Insurance

    {April 5th, 2022} by Doug Bailey

    While the massive growth in private equity investment in insurtechs continues unabated, private equity is generating new levels of scrutiny from regulators and insurance commissioners concerned about the impact the trend will have on the insurance industry as a whole. The worry is not so much financial calamity but that the budding insurtech startups attract […]

    Why AI In Insurance Is The Key To Survival

    {April 5th, 2022} by Ira Scharf

    It took less than a decade for artificial intelligence to enter every sphere of public life. Its impact is felt in everyday tasks as well as the business-critical applications that underpin our economy. Insurance is one of these areas, with providers increasingly leveraging AI to understand risk and reduce costs. Examples within the consumer field […]

    SEC Warns Advisors on Rollovers Under Reg BI

    {April 5th, 2022} by Melanie Waddell

    The Securities and Exchange Commission is warning broker-dealers and advisors to use caution when recommending rollovers out of a retirement plan to retail clients so as not to run afoul of their obligations under Regulation Best Interest and the Advisers Act fiduciary standard. In a just-released guidance bulletin in Q&A form, the SEC reiterates the […]

    Kitces: The Big Mistake That Led to Massachusetts Fiduciary Rule’s Demise

    {April 5th, 2022} by Melanie Waddell

    While the torpedoing of the Massachusetts fiduciary rule by a superior court judge on Wednesday is “tough fiduciary news,” Massachusetts likely “took the wrong approach to begin with” in enforcing its fiduciary rule against trading app Robinhood, popular blogger and advisor Michael Kitces stated Thursday on Twitter. “Is the way Robinhood promotes stock trading concerning?” […]

    Prudential Completes Retirement and $31B Annuity Deals

    {April 5th, 2022} by Allison Bell

    Prudential Financial says it’s now stronger, leaner and eager to sell annuities. The Newark, New Jersey-based life and annuity issuer has announced the completion of two major, previously announced deals. The company has closed on an agreement to sell a subsidiary, Prudential Annuities Life Assurance Corp., to Fortitude Re, a Bermuda-based reinsurer controlled by The Carlyle […]

    Brokers International’s Mark Williams on the Annuity Market Force to Watch

    {April 5th, 2022} by Allison Bell

    Mark Williams says anyone involved in helping clients with annuities right now had better be paying close attention to Washington. Williams is CEO of Brokers International — a 67-year-old Urbandale, Iowa-based annuity and life field marketing organization that is now part of Integrity Marketing. Brokers International can offer insurance agencies and financial advisory firms a […]

    New FATCA Reporting Rules May Hit Visitors’ U.S. Annuities

    {April 5th, 2022} by Allison Bell

    A proposed asset-tracking rule could affect international visitors in the United States who own U.S. life insurance policies or U.S. annuities. The Biden administration wants to require U.S. financial institutions to send the IRS account balance information for any accounts maintained by “foreign persons.” The account balance total would have to include the cash value […]

    Bill That Could Boost Lifetime Annuity Use Sails Through House

    {April 5th, 2022} by Allison Bell

    H.R. 2954 — a bill that includes major lifetime income annuity rule changes — raced through the House of Representatives on Tuesday. House members approved the Securing a Strong Retirement Act, also known as the Secure Act 2.0, by a 414-5 vote. Supporters have described the bill as a sequel to the Setting Every Community […]

    House Panel to Consider Bill That Might Make Hot Annuities Hotter

    {April 5th, 2022} by Allison Bell

    Insurers like offering RILAs, because administering RILA programs is relatively affordable, and the fact that they are registered as securities helps an insurer decide just how much investment risk to assume. Issuer support for the products has pushed sales higher.\ Wink, an annuity sales data vendor, says RILA sales increased 20% between the fourth quarter […]

    5 Ways Inflation Could Reshape Annuities

    {April 5th, 2022} by Allison Bell

    n the 1970s, U.S. consumer prices headed up like an Apollo rocket. Ordinary people bought mood rings that changed color when they were happy, earth shoes that put their toes higher than their heels, and commodities futures. Butchers, bankers, tailors and candlestick makers experimented with gold futures, wheat futures and even the much-ridiculed pork belly […]

    ‘SECURE 2.0’ Passes House, Moves to Senate

    {April 5th, 2022} by Editorial Staff

    By a 414 to 5 vote this week, the House of Representatives approved the Securing a Strong Retirement Act of 2022 and sent it on to the Senate. Sponsored by Richard Neal (D-MA), the lengthy bill grants several long-sought items on the retirement industry’s wish-list.   Click HERE to read the full story via RIJ

    Annexus and State Street to Create In-Plan Annuitization Program

    {April 5th, 2022} by Allison Bell

    State Street Global Advisors will be using a feature developed by Annexus to persuade employers to add lifetime income options to 401(k) plans. State Street is putting the Annexus Lifetime Income Builder annuitization program in a new target date fund aimed at 401(k) plan sponsors. State Street is an asset manager with $4.1 trillion in […]

    Wink Sees 40% Growth in Structured Annuities After Record Year

    {April 5th, 2022} by Cyril Tuohy

    Also, at least four new companies will enter the fast-growing market for the first time in 2022, according to Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report. In 2021, there were 15 companies offering a total of 55 structured annuity products, she said. Click HERE to read the full story via Life Annuity Specialist

    Ohio National

    {April 5th, 2022} by Broker World

    The Ohio National Foundation continued its tradition of community involvement in 2021 with $1.6 million in donations to more than 75 local nonprofits. Last year’s contributions bring the Foundation’s total giving to more than $29 million since its inception in 1987. Major recipients included United Way of Greater Cincinnati, ArtsWave, American Heart Association and Habitat […]

    Broker Words—April 2022

    {April 5th, 2022} by Stephen Howard

    In a recent news release from our industry’s most admired information-gathering institution, the great folks at LIMRA offered some insight and optimism (perhaps a somewhat tarnished silver lining) about life insurance purchasing gains during year two of the COVID-19 pandemic (https://www.limra.com/en/newsroom/news-releases/2022/limra-2021-annual-u.s.-life-insurance-sales-growth-highest-since-1983/). Released on March 16, almost two years to the day from the date that […]

    Global Atlantic Investor Outlook Study: Next Generation of Retirees Apprehensive of Market Conditions; Inflation-Induced “Sticker Shock” is Widespread

    {April 5th, 2022} by Global Atlantic

    NEW YORK–(BUSINESS WIRE)–A new study from Global Atlantic Financial Group (Global Atlantic) reveals that the next generation of retirees, defined as those without a traditional pension, is divided on their outlook for the economy in 2022, and nearly nine in ten (87%) have recently experienced “sticker shock” when purchasing groceries, dining out, or traveling. The survey of […]

    More Women Should Be Advisors, Says Top Female UBS FA

    {April 5th, 2022} by James Rogers

    More women should consider becoming financial advisors, according to Paula Mogan, an FA and senior vice president at UBS Wealth Management. “There’s a lot of flexibility that comes with being a financial advisor, because it’s your business and you make your own hours,” Rockland, Massachusetts-based Mogan said, noting the career can be a good fit, in particular, […]

    Selecting The Right Annuity Requires Dialogue & Partnership

    {April 5th, 2022} by Matthew Drinkwater

    With millions of Americans entering retirement over the next decade, many will benefit from the unique features of annuities. Although the core and defining value of annuities is guaranteed lifetime income, deferred annuity products offer various combinations of downside protection and upside potential. Investors of varying levels of risk tolerance will have an abundance of […]

    AmeriLife Announces Key Leadership Additions to its Distribution & Marketing Organizations

    {April 5th, 2022} by AmeriLife

    CLEARWATER, Fla. | March 21, 2022 10:00 AM Eastern Daylight Time  AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions, today announced two key leadership changes to its Distribution and Marketing organizations aimed at accelerating and fortifying its business against the backdrop of record-breaking organic and […]

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