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Archive for October 2022


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  • LIBRA Insurance Partners and Insurance Designers of America Announce Merger

    {October 31st, 2022} by LIBRA Insurance Partners

    Companies unite under the LIBRA brand to become the largest independently owned Life Insurance Marketing Organization (IMO) in America BALTIMORE, Oct. 26, 2022 /PRNewswire/ — LIBRA Insurance Partners and Insurance Designers of America, LLC (IDA) announce the merger of the two organizations, creating the largest independently owned life insurance marketing organization (IMO) in the United States. The combined company […]

    Equitable Enhances Leading Buffered Annuities as Financial Protection Takes Center Stage in Current Market Environment

    {October 31st, 2022} by Equitable

    NEW YORK–(BUSINESS WIRE)–Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc. (NYSE: EQH), today announced updates to two of its market-leading registered index linked annuity (RILA) products. These updates are designed to help financial professionals and their clients manage volatile equity markets and generate lifelong income amid rising inflation and interest rates. Equitable’s […]

    Ameriprise Financial Reports Third Quarter 2022 Results

    {October 31st, 2022} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP):       Earnings Per Diluted Share   Return on Equity, ex AOCI (1)   Q3 2022     Q3 2022 GAAP $4.86   GAAP 47.1% Adjusted Operating $5.24   Adjusted Operating 45.6% Adjusted Operating Ex. Unlocking (2) $6.43   Adjusted Operating Ex. Unlocking (2) 47.9%           Third […]

    Guaranty Income Life Insurance Company (GILICO) Earns Upgraded AM Best Rating of A- (Excellent)

    {October 31st, 2022} by Guaranty Income Life Insurance

    BATON ROUGE, La.–(BUSINESS WIRE)–Guaranty Income Life Insurance Company (“GILICO”), a life and annuity affiliate of Kuvare US Holdings, Inc. (Kuvare) headquartered in Baton Rouge, earned an AM Best Financial Strength Rating (FSR) of A- (Excellent), upgraded from B++ (Good). AM best also noted a stable outlook for the GILICO ratings. Kuvare Chief Executive Officer Dhiren […]

    Alaska Updates Annuity Sales Standards

    {October 31st, 2022} by Allison Bell

    Alaska last week became the 29th state to adopt an annuity sales standard update developed by the National Association of Insurance Commissioners. The state’s Division of Insurance will require insurance producers, and insurers selling annuities directly to consumers to act in the best interest of consumers when recommending annuities, as well as verifying that the […]

    Kansas City Life Announces Third Quarter 2022 Results

    {October 31st, 2022} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., Oct. 28, 2022 /PRNewswire/ — Kansas City Life Insurance Company recorded net income of $4.3 million or $0.45 per share in the third quarter of 2022 compared to a net loss of $6.0 million or $0.62 per share in the third quarter of 2021.  Net income totaled $1.1 million or $0.12 per share in the first nine months of 2022 compared to a net loss of $2.4 […]

    Young Americans Seen Failing to Match Baby Boomers’ Wealth Gains

    {October 31st, 2022} by Ben Steverman

    An epic four-decade boom in housing and stock prices made Baby Boomers the richest generation in US history. A new study shows just how difficult it will be for younger Americans to copy that success. The wealth boom since 1980 widened the gaps between rich and poor and young and old to record levels, the research finds. Click HERE to […]

    Secure Lifetime Income Through Secure Act 2.0

    {October 31st, 2022} by Tyler Brown

      Even during a contentious election year in Washington, Republicans and Democrats can agree on at least two things: retirement policy and a shared enthusiasm for lengthy acronyms. That’s good news for retirement savers, as both chambers of Congress have been quietly working on a bipartisan package of retirement policy reforms they hope to pass later […]

    13 Scary Retirement Statistics to Read in the Dark

    {October 31st, 2022} by John Manganaro

    Every year, advisory firms, retirement plan providers, asset managers and advocacy organizations publish an extensive amount of research assessing the retirement preparedness of the U.S. population. Some of the positive findings shared by industry analysts include a clear commitment to tax-advantaged retirement savings among workers and a broad-based realization that steady participation in the financial […]

    Ameriprise Continues to Shift Away From Life and Annuity Guarantees

    {October 31st, 2022} by Allison Bell

    Interest rates are rising, but Ameriprise Financial is still working to reduce exposure to life insurance and annuity guarantee risk. Jim Cracchiolo, the CEO of the Minneapolis-based company, said Wednesday that he believes the Federal Reserve Board and other central banks will have to continue to increase interest rates to get inflation under control. Click […]

    Barred Broker Sentenced to 5 Years for Fraud That Shuttered Life Insurance Firm

    {October 31st, 2022} by Jeff Berman

    A barred broker was sentenced on Thursday to five years in prison for his role in a scheme to defraud a North Carolina-based life insurance company, according to the Justice Department and court documents. Bradley C. Reifler, 62, of New York caused about $20 million in losses to the company, which led to it being […]

    The Real Value of Annuities for Mass Affluent Retirees

    {October 31st, 2022} by Jason Fichtner and Michael Finke

    Recent research released by Morningstar addresses the potential benefits of annuities in defined contribution (DC) retirement plans. This is a much-needed analysis at an important time when many employers and/or advisors are considering whether to add an annuity to a DC plan. The authors primarily judge the benefit of annuities using a failure rate method, […]

    Sales of These Life and Annuity Products Could Surge Next Year

    {October 31st, 2022} by Warren S. Hersch

    Wink CEO Sheryl Moore anticipates that annuity sales will increase by double digits next year. A key driver for fixed-rate annuities, she noted, is the large “spread,” or difference between rates paid on certificates of deposit and the higher yields offered on annuities. Click HERE to read the full story via Life Annuity Specialist  

    How carriers can lean on partnerships to innovate with speed

    {October 31st, 2022} by Lena Chukho

    All life insurance carriers are aware of the consumer’s demand for digital-first experiences, but not every carrier has been able to meet that demand. A lengthy and complicated application process with the added friction from a medical exam isn’t ideal for many digitally native consumers, so insurance companies must reassess their use of technology to […]

    Northwestern Mutual Kicks Off 2023 Dividend Announcement Season

    {October 31st, 2022} by Allison Bell

    Northwestern Mutual says it plans to push up total dividend payments to policyholders next year. The Milwaukee-based life insurer expects to increase the dividend total to $6.8 billion in 2023, or 4.6% more than the $6.5 billion dividend payout for 2022. The dividend interest rate used in the dividend calculations will hold steady at 5%, […]

    Northwestern Mutual Study Finds Americans Now Believe They Will Need $1.25 Million for Comfortable Retirement

    {October 31st, 2022} by Northwestern Mutual

    MILWAUKEE, Oct. 25, 2022 /PRNewswire/ — The latest findings from Northwestern Mutual’s 2022 Planning & Progress Study reveal that U.S. adults aged 18+ anticipate they will need $1.25 million to retire comfortably, a 20% rise since 2021. At the same time, Americans’ average retirement savings has dropped 11% – from $98,800 last year to $86,869 now – while their expected retirement age has risen – […]

    Northwestern Mutual to Deliver Record-Breaking $6.8 Billion in Dividends to Policyowners

    {October 31st, 2022} by Northwestern Mutual

    Annual life insurance payout is close to triple the size of its nearest competitor MILWAUKEE, Oct. 26, 2022 /PRNewswire/ — Northwestern Mutual will once again break its own industry-leading dividend payout record with an expected $6.8 billion to be delivered to its policyowners in 2023. The company has paid a dividend every year for more than 150 years, totaling over $150 billion. […]

    World Financial Group Announces Its Virtually Unstoppable Women’s Online Event 2022

    {October 31st, 2022} by WFG

    JOHNS CREEK, Ga., Oct. 27, 2022 /PRNewswire/ — The third annual Virtually Unstoppable Women’s Conference hosted by World Financial Group Insurance Agency, LLC (WFGIA) offers an exciting opportunity for women and men to hear from top professional entrepreneurs about how to expand their leadership skills and financial knowledge. The virtual event is free and offers guidance to others, whether a current […]

    Integrity Further Enhances Agent Development by Acquiring Elevation Sales Coaching

    {October 31st, 2022} by Integrity Marketing Group, LLC

    DALLAS, Oct. 25, 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 to acquire Elevation Sales Coaching (“Elevation”), based in Wake Forest, North Carolina. As part of the acquisition, Jordan Smith, President of Elevation Sales Coaching, will […]

    Fidelity National Financial Announces Third Quarter 2022 Earnings Release and Conference Call

    {October 31st, 2022} by Fidelity National Financial, Inc.; FGL Holdings

    JACKSONVILLE, Fla., Oct. 25, 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, will release third quarter 2022 earnings after […]

    Principal Financial Group® Announces Third Quarter 2022 Results

    {October 31st, 2022} by Principal Financial Group

    DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced results for third quarter 2022. Net income attributable to PFG for third quarter 2022 of $1,385.5 million, including $990.7 million from exited business, compared to $359.9 million for third quarter 2021. Net income per diluted share of $5.50 for third quarter 2022 compared to $1.32 in the prior […]

    Inflation Causing Majority of Americans to Stop or Reduce Retirement Savings

    {October 31st, 2022} by Allianz Life Insurance Company of North America

    MINNEAPOLIS–(BUSINESS WIRE)–The impact of 40-year high inflation is hitting savings accounts as a majority of Americans say they are stopping or reducing retirement savings because of inflation. More than half (54%) of Americans say they have stopped or reduced retirement savings due to inflation, according to the 2022 Q3 Quarterly Market Perceptions Study from Allianz […]

    Aristotle Expands Credit Offerings with Acquisition of Pacific Asset Management from Pacific Life

    {October 31st, 2022} by Aristotle Capital Management, LLC

    LOS ANGELES & NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Aristotle Capital Management, LLC (“Aristotle”), an investment management organization that specializes in equity and fixed income portfolio management for institutional and advisory clients worldwide, and Pacific Life Insurance Company (“Pacific Life”), a leading mutual life insurance company, today jointly announced Aristotle’s planned acquisition of Pacific Life’s third-party credit asset […]

    Jackson and Halo Investing Expand Relationship to Increase RIA Access to New Fee-Based Annuity Solutions

    {October 31st, 2022} by Jackson National Life Insurance Company

    LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc. 1 (NYSE: JXN), today announced it has expanded its relationship with Halo Investing (Halo), an award-winning platform for protective investments, to provide registered investment advisors (RIAs) more fee-based options when considering annuities. Jackson began offering RIAs access to fee-based fixed index annuities […]

    ‘Ugly times’ are pushing record annuity sales. Here’s what you need to know before you buy

    {October 31st, 2022} by Greg Iacurci

    Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers. Annuity sales in the third quarter of 2022 approached $80 billion, just edging out the $79.4 billion record set in Q2, according to estimates published by Limra, an insurance industry trade group. Click HERE to view […]

    ‘Are they all they’re claiming to be?’ What is an IUL, and what do advisers think of them?

    {October 31st, 2022} by Alisa Wolfson

    Wink’s Note: No, no, NO! On indexed life, it is inaccurate to say that a “portion of the funds are invested in a stock market index.” The purchaser is NEVER invested in the stock market index with these products. Later, an advisor is quoted as saying, “Most people try to get the most insurance for […]

    I do think that indexed annuity sales this year will eclipse the 2019 record.

    {October 31st, 2022} by Sheryl J. Moore

     I really liked this article, Why Fixed Indexed Annuities Are Back by David Blanchett. However, David Blanchett, I am having a little trouble with the suggestion that the “relative appeal of FIAs is going to evolve over time as the market changes,” in the manner that you suggest. Indexed annuities achieved record sales levels of $73.2 […]

    Annuity Products – Negotiating A Surrender

    {October 31st, 2022} by Burt Snover

    There are many opinions among financial industry professionals on why annuity surrender charges exist, how they may be a good thing, and how they may actually enhance product designs. On the flip side, many cynics believe they exist to further gouge a client, or that they represent an additional profit center for the carrier. It […]

    Brad Rhodes: Who gets money from your annuity if you die?

    {October 31st, 2022} by Staff

    Brad Rhodes: Who gets money from your annuity if you die? If you buy an annuity and die, the insurance company keeps your money. We have all seen and heard that broad statement. Is it true? No. Click HERE to read the full story via INN   Wink’s Note: While this is true about deferred […]

    How To Buy An Annuity

    {October 31st, 2022} by John Egan

    Many retirees who would benefit from annuities generally avoid them. That’s a shame because Americans tend to underestimate how long they’ll live, and it means they’re missing out on one of the best reasons to choose annuities: longevity insurance. Click HERE to read the full story via Forbes     Wink’s Note:  really appreciated the […]

    LPL sees demand for yield products amid down market

    {October 31st, 2022} by Bruce Kelly

    LPL Financial Holdings Inc. saw financial advisers and their clients turn to commission-based products that promise yield, including fixed income, annuities and alternative investments, in recent months as equities struggled and anxiety about a U.S. recession permeate the market. Click HERE to read the full story via InvestmentNews     Wink’s note: LPL Financial has been […]

    54% of Consumers Have Cut Retirement Savings Due to Inflation: Allianz Life

    {October 31st, 2022} by Michael S. Fischer

    Inflation in the U.S. is taking a toll on consumers and retirement savers, according to Allianz Life’s third-quarter market perceptions study. Fifty-four percent of study participants reported that they have stopped or reduced retirement savings because of inflation, and 43% said rising costs have forced them to dip into their retirement savings. Click HERE to […]

    Annuities Continue To Soar In 2022

    {October 31st, 2022} by Edward Hayes

    Annuities are continuing their record-breaking year. For the second consecutive quarter, these products saw increased sales in LIMRA’s “U.S. Individual Annuity Sales Survey,” reporting $79.6 billion in sales for the third quarter, which represents a 27% increase over a year ago. Click HERE to read the full story via Financial Advisor   Wink’s Note: I […]

    Apollo Turns to Smaller Firms for Investing Acumen in High-Growth Areas

    {October 31st, 2022} by Chris Cumming

    Apollo Global Management Inc. is taking an unusual approach to harnessing investing talent outside its traditional areas of expertise: backing smaller private-equity firms. Executives of the New York-based alternative-asset giant, which manages about $515 billion, often emphasize the firm’s cost-conscious approach—a principle of avoiding market bubbles or overpaying for investments. Originally known for snapping up […]

    Private Equity’s Pension-Plan Takeovers Face Backlash

    {October 31st, 2022} by Chris Cumming

    Private equity’s aggressive expansion into the insurance industry is facing pushback from some lawmakers and labor unions, who say that buyout firms take too much risk with investments that back workers’ nest eggs. As low interest rates squeezed insurers over the past decade, private-equity managers moved in to acquire struggling businesses on the cheap. Now, […]

    Both Life Insurance and Annuity Customer Satisfaction Decline as Pandemic Fears Wane, J.D. Power Finds

    {October 24th, 2022} by JD Power

    TROY, Mich.: 13 Oct. 2022 — Individual life insurance and annuity products—with the longest term lengths of long-term investment and insurance products—have created a customer engagement problem. According to the J.D. Power 2022 U.S. Individual Life Insurance StudySM and the J.D. Power 2022 U.S. Individual Annuity Study,SM both released today, customer satisfaction with these products starts declining relatively soon […]

    NY Court of Appeals reinstates tough standard for life insurance, annuities

    {October 24th, 2022} by John Hilton

    The New York State Court of Appeals sided with regulators in a Thursday decision to reinstate the toughest state annuity sales standard in the nation. Regulation 187, passed in 2018 by the New York State Department of Financial Services, requires life insurance and annuity producers to base their sales recommendations on the best interest of […]

    Why Are Customers So Unhappy With Life Insurance and Annuities?

    {October 24th, 2022} by Michael S. Fischer

    Customers’ satisfaction starts to decline relatively soon after they buy individual life insurance and annuity products, according to two new studies from J.D. Power. As a result, there is both a low likelihood that customers will consider buying other insurance and financial services products and a general lack of understanding of products these customers already […]

    16 Highest-Paid CEOs in Financial Services

    {October 24th, 2022} by Michael S. Fischer

    The 15th edition of the Equilar 200, which analyzes pay packages awarded to chief executives at U.S. public companies during fiscal year 2021, showed that median total CEO compensation surged to $23.2 million in 2021, a 29.4% increase from the previous year. The Equilar 200 includes the largest pay packages awarded to CEOs from U.S.-based […]

    How DOL’s New Independent Contractor Rule Could Cause Major Headaches for Advisors

    {October 24th, 2022} by Jeff Berman

    The proposed rule the Labor Department released Oct. 11 that would determine worker classification as either an independent contractor or an employee stands to create a major headache for financial advisors, according to David Bellaire, executive vice president and general counsel for the Financial Services Institute, an advocacy group. The new Labor rule would replace […]

    Life insurance lags behind other sectors in adopting behavioral benefits

    {October 24th, 2022} by Doug Bailey

    Behavioral insurance has found a place in health, auto, and home coverage, but U.S. companies have been relatively slow to apply the dynamics to life insurance. This type of insurance underwrites, prices, and pays out according to a customer’s behavior. Auto insurers use telematics or mobile apps that can reward drivers with lower premiums based […]

    Federal Judge OKs $25M Genworth Universal Life Settlement

    {October 24th, 2022} by Allison Bell

    A federal judge in Richmond, Virginia, approved a $25 million universal life insurance class action at a fairness hearing Monday. Genworth Life and Annuity Company agreed to pay the settlement to about 13,400 policyholders affected by a Genworth move to increase the policyholders’ cost-of-insurance rate in 2019. Genworth Life also agreed not to challenge claimants […]

    The greatest

    {October 24th, 2022} by Sheryl J. Moore

    ANNUITIES: “The greatest retirement product that no one knew about.” – Sheryl J. Moore

    If you like stats you’ll enjoy this!

    {October 24th, 2022} by Sheryl J. Moore

    If you like stats, like I love stats, you will enjoy using the “American Council of Life Insurers – ACLI‘s Life Insurers Fact Book!” This is one of my top secret tools, that I have at my disposal for market research. So many people asking for information that I find in it, that I thought […]

    Top New York court revives protections for buyers of annuities, life insurance

    {October 24th, 2022} by Barbara Grzincic

    (Reuters) – New York’s highest court on Thursday reinstated a 2018 regulation that requires life insurance and annuity producers to base their sales recommendations on the best interest of the consumer, regardless of the adviser’s compensation or other incentives. The New York Court of Appeals – the state’s top court – overturned an intermediate appellate ruling that […]

    Market Conditions Create a Fixed Annuity Buying Opportunity

    {October 24th, 2022} by Scott Stolz

    Fixed annuity sales hit a record $28.7 billion in the second quarter of this year, up 79% over the same quarter of last year, according to LIMRA’s annuity sales estimates. Historically, fixed annuity sales have been highly correlated with 10-year Treasury rates. An accurate prediction of 10-year Treasury rates would lead to an accurate estimate […]

    AM Best Affirms Credit Ratings of Zurich Insurance Group Ltd and Its Main Rated Subsidiaries

    {October 24th, 2022} by AM Best

    LONDON–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the main rated insurance subsidiaries of Zurich Insurance Group Ltd (Zurich) (Switzerland). At the same time, AM Best has affirmed the Long-Term ICR of “a” (Excellent) of Zurich (a non-operating holding […]

    AM Best Affirms Credit Ratings of Farmers New World Life Insurance Company and Farmers Reinsurance Company

    {October 24th, 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 Farmers New World Life Insurance Company (FNWL) (Bellevue, WA). At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of […]

    The Standard to Acquire Securian Financial’s Retirement Plan Recordkeeping Business

    {October 24th, 2022} by Securian Financial and The Standard

    PORTLAND, Ore. & ST. PAUL, Minn.–(BUSINESS WIRE)–Standard Insurance Company (“The Standard”) and Securian Financial Group, Inc. (“Securian Financial”) today announced a definitive agreement under which The Standard will acquire Securian Financial’s retirement recordkeeping business. The acquisition is subject to customary closing conditions and is expected to close this year. The Standard and Securian Financial are […]

    Pacific Life Enhances Select Indexed Universal Life Insurance Products by Providing Additional Policyowner Flexibility

    {October 24th, 2022} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has added two new uncapped volatility control indexed accounts to select indexed universal life insurance (IUL) products. These indexed accounts are available on certain new and inforce policies and are tied to the BlackRock Endura® Index,1 which uses volatility controls to determine a daily mix of equities and short-term U.S. Treasuries […]

    AM Best Upgrades Credit Ratings for Guaranty Income Life Insurance Company; Affirms Credit Ratings of United Life Insurance Company and Lincoln Benefit Life Company

    {October 24th, 2022} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating (FSR) to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” (Excellent) from “bbb+” (Good) of Guaranty Income Life Insurance Company (GILIC) (headquartered in Baton Rouge, LA). In addition, AM Best has affirmed the FSR of A- (Excellent) and the […]

    Best’s Review Explores New Hazards and Risks, Rising Interest Rates

    {October 24th, 2022} by AM Best

    Best’s Review Explores New Hazards and Risks, Rising Interest Rates October 24, 2022 12:05 PM Eastern Daylight Time OLDWICK, N.J.–(BUSINESS WIRE)–Best’s Review has released the following previews of next month’s issue: “Pot, Pans and the Internet” discusses three emerging hazards that should be on the radar for insurers and their customers. “Putting a New Face on Reality: […]

    Kansas City Life Declares Quarterly Dividend

    {October 24th, 2022} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., Oct. 24, 2022 /PRNewswire/ — The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.14 per share on Oct. 24, 2022. The dividend will be payable on Nov. 9, 2022, to stockholders of record on Nov. 3, 2022. Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri. The Company’s primary […]

    New Transamerica Program Aids Small Businesses in Employee Retirement and Health Savings

    {October 24th, 2022} by Transamerica

    BALTIMORE , Oct. 13, 2022 /PRNewswire/ — Transamerica is helping small businesses to gain advantages in today’s competitive job market by offering an initiative that encourages employees to save more now for retirement and medical costs. By providing special incentives until the end of the year, the initiative can serve as a magnet for new talent and a […]

    Midwest Holding Schedules Conference Call to Review Results from Third Quarter of 2022

    {October 24th, 2022} by Midwest Holding Inc

    LINCOLN, Neb., Oct. 20, 2022 /PRNewswire/ — Midwest Holding Inc. (“Midwest”) (NASDAQ: MDWT) today announced plans to host a conference call to discuss its financial and operating results for the third quarter of 2022 on November 15, 2022, at 8:30 a.m. Eastern Time. The Company also plans to post those results on the investor relations section of its website at https://ir.midwestholding.com  after […]

    Addressing the 5 misconceptions around life insurance

    {October 24th, 2022} by Nathan Richardson

    Having life insurance provides peace of mind and can help individuals feel financially secure. However, according to research from LIMRA, 41% of Americans say they don’t have sufficient life insurance coverage, and at least 106 million Americans live with a life insurance gap. Here are a few top misconceptions we hear about life insurance and how […]


    {October 23rd, 2022} by Everest

    HOUSTON, Oct. 17, 2022 /PRNewswire/ – Funeral planning and concierge service firm Everest announced today a new strategic partnership with MetLife in the UK market. As part of this initial three-year exclusive arrangement, MetLife will offer funeral support services to more than 1.4 million UK employees, via its Group Life insurance arrangements.  The partnership marks Everest’s entry […]

    TruChoice Hosts Inaugural Discover Conference

    {October 23rd, 2022} by TruChoice

    MINNEAPOLIS, Oct. 21, 2022 (GLOBE NEWSWIRE) — TruChoice Financial Group, LLC (TruChoice), one of the largest distributors of insurance products in the financial services industry, held its first annual Discover conference Oct. 12-14 at the JW Marriott Minneapolis Mall of America in Bloomington, Minnesota. More than 50 of TruChoice’s financial professionals gathered to discuss best […]

    SEC Issues No-Action Letter Regarding Everlake Life Insurance

    {October 23rd, 2022} by Targeted News Service

    WASHINGTON, Oct. 22 — The Securities and Exchange Commission issued the following no-action letter on Oct. 21, 2022: * * * To: Stephen E. Roth, Eversheds Sutherland (US) LLP Email: steveroth@eversheds-sutherland.com Re: Everlake Life Insurance Company By letter dated October 20, 2022, you request permission under Regulation S-X Sec.3-13 (“Rule 3-13”) for Everlake Life Insurance Company (“ELIC”) to file audited financial statements prepared in accordance with statutory […]

    Annuity buyers in a protection mode

    {October 23rd, 2022} by John Hilton

    As 2022 winds down, one thing is clear in the annuity world: protection is king. LIMRA estimates that annuity sales might hit as high as $85 billion when the third-quarter numbers are finalized — led by protection-focused products, said Todd Giesing, assistant vice president and head of annuity research, Secure Retirement Institute. Giesing moderated a […]

    What’s ‘The One Thing’?

    {October 18th, 2022} by Wink's Intel Pros

    Years ago there was an article, “I Wish I Knew Then: 6 Power Women Share Most Valuable Career Advice” by Moira Forbes. The article had top female leaders, identified as successful at that time, sharing key insights into their careers and were asked “What’s ‘The One Thing’ you wish you would have known when starting […]

    Target Premium

    {October 17th, 2022} by Sheryl J. Moore

    I think I am going to rock your world. (And not in a good way.) Did you know that target premium has nothing to do with the amount of premium needed to fund a UL? And I mean any type of UL- universal life, indexed universal life, or variable universal life contract. Target premium has […]

    Both Life Insurance and Annuity Customer Satisfaction Decline as Pandemic Fears Wane, J.D. Power Finds

    {October 17th, 2022} by J. D. Powe

    TROY, Mich.–(BUSINESS WIRE)–Individual life insurance and annuity products—with the longest term lengths of long-term investment and insurance products—have created a customer engagement problem. According to the J.D. Power 2022 U.S. Individual Life Insurance StudySM and the J.D. Power 2022 U.S. Individual Annuity Study,SM both released today, customer satisfaction with these products starts declining relatively soon after they […]

    State regulator group previews possible ‘quick fix’ to IUL illustration issue

    {October 17th, 2022} by John Hilton

    For now, the group is accepting comments for three weeks on the following three concepts to fix AG 49-A: Bobby Samuelson noted that his proposal actually encompasses the thoughts expressed by several letter writers. Samuelson authored a pair of letters with fellow product intelligence analyst Sheryl Moore. They favor removing the lookback option from calculations. Their letter […]

    Booming sales could be even better, Levenson says

    {October 17th, 2022} by Steven A. Morelli

    Even though life insurance products, especially annuities, are having their best year ever, there is still an enormous demand out there. That is a key theme that LIMRA and LOMA CEO David Levenson planned to focus on in his opening address today at the association’s 2022 annual conference, LIMRA’s first in-person annual since 2019. Click […]

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

    {October 17th, 2022} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) announced today that it will release third quarter 2022 earnings and other financial results after the close of market on Monday, November 7, 2022. The third quarter earnings release and financial supplement will be posted on the American Equity IR website at https://ir.american-equity.com/ at that […]

    Women double life sales, advisor study finds

    {October 17th, 2022} by Steve Morelli

    More financial advisors are getting into insurance and women are outpacing men in business growth, both because of a broader scope of services, according to the latest edition of the experienced advisor study conducted by LIMRA and EY. Those are two high-level findings in the study updated from 2018, said Laura Murach, LIMRA and LOMA […]

    Uptick in Product Surrenders Has Treasury Team on Alert

    {October 17th, 2022} by Allison Bell

    The Federal Insurance Office is worrying about product surrenders at life, health and annuity issuers. The FIO, an arm of the U.S. Treasury Department, talks about a big increase in surrenders at the companies in its latest annual report. Surrenders increased 12% between 2020 and 2021, to $363 billion, and surrenders amounted to 52% of […]

    Get Ready: FINRA’s New CE Rules Start in January

    {October 17th, 2022} by Melanie Waddell

    As a part of a revamp of the Financial Industry Regulatory Authority’s continuing education program, broker-dealers and their reps face new CE requirements in January — with courses likely to drill down on the Securities and Exchange Commission’s Regulation Best Interest. Last November, FINRA adopted changes to its CE and registration rules, which included, among […]

    FINRA Issues First Reg BI-Related Fine

    {October 17th, 2022} by Melanie Waddell

    In its first disciplinary move related to Regulation Best Interest, the Financial Industry Regulatory Authority has fined a former registered rep $5,000 and issued a six-month suspension. From July 2020 through November 2021, Charles V. Malico willfully violated Reg BI’s Care Obligation and also violated FINRA Rule 2010 “by recommending a series of transactions in […]

    SEC Issues FAQ on Fiduciary DEI Duties

    {October 17th, 2022} by Melanie Waddell

    The Securities and Exchange Commission released guidance Thursday clarifying an advisor’s fiduciary duty when considering factors relating to diversity, equity and inclusion in selecting or recommending other advisors. The question addressed in the FAQ: “Under its fiduciary duty, may an investment adviser that recommends other investment advisers to or selects other advisers for its clients […]

    Barry Ritholtz Warns: Don’t Mix Investing and Identity Politics

    {October 17th, 2022} by Dinah Wisenberg Brin

      Identity politics and investing don’t mix well, investor Barry Ritholtz warned this week, urging investors not to base their portfolio moves on emotional ideological branding. “Good investing is about future discounted cash flows, behavioral management and having a long-term perspective. It’s not about partisan politics, religious beliefs or any other emotionally driven system separated […]

    Uptick in Product Surrenders Has Treasury Team on Alert

    {October 17th, 2022} by Allison Bell

    The Federal Insurance Office is worrying about product surrenders at life, health and annuity issuers. The FIO, an arm of the U.S. Treasury Department, talks about a big increase in surrenders at the companies in its latest annual report. Click HERE to read the full story via ThinkAdvisor

    Resolution Life and Blackstone Announce Strategic Partnership to Grow Leading Global Life Insurance and Annuity Consolidation Business

    {October 17th, 2022} by Resolution Life Group and Blackstone

    NEW YORK–(BUSINESS WIRE)–Resolution Life and Blackstone (NYSE: BX) today announced a strategic partnership to support the continued growth of Resolution Life, a leading global life and annuity insurance consolidation business. This partnership solidifies Resolution Life’s position as a leader in the multi-trillion-dollar global life and annuity consolidation market by combining Resolution Life’s global liability management […]

    Four Generations of Workers Are Preparing for Retirement Amid an Uncertain Future

    {October 17th, 2022} by Transamerica Center for Retirement Studies

    LOS ANGELES, Oct. 12, 2022 /PRNewswire/ — Seventy-six percent of workers say their life priorities changed as a result of the pandemic, and 56 percent cite saving for retirement as a financial priority, according to Emerging From the COVID-19 Pandemic: Four Generations Prepare for Retirement, a survey report released today by nonprofit Transamerica Center for Retirement Studies® (TCRS) in […]

    Burnout high among planners, especially for female financial advisors

    {October 17th, 2022} by Tobias Salinger

    Financial planners burn out at a high rate from long work hours on a job that spills over into their personal and family time, according to a new study. Women report that they’re going through stress in the workplace from the challenges of working at large firms, according to a study on work-life balance in the planning […]

    RIA Leaders 2022: These are the 20 largest fee-only RIAs

    {October 17th, 2022} by Tobias Salinger

    The biggest fee-only advisory firms in the country manage more than a combined $332 billion in assets, as the industry’s continuing movement toward fiduciary advice fuels their growth. For Financial Planning‘s latest annual RIA Leaders study of registered investment advisors that provide fee-only financial planning services, compliance firm RIA in a Box scraped SEC Form ADV filings to compile a […]

    Pass Rate on CFA Level II Exam Remains Below 10-Year Average

    {October 17th, 2022} by Alex Padalka

    A smaller percentage of people passed the second level of the Chartered Financial Analyst exam this summer than in the previous two exam periods, with several exam centers being affected by Covid-19 restrictions, according to news reports. Of the nearly 16,000 candidates who took the CFA Level II exam in August, only 40% passed, compared […]

    The BEST long term care policy is the one that is inforce when you need it!

    {October 17th, 2022} by Steadfast Insurance Agency

    Which LTC Solution is Best? Sheryl J. Moore and I chatted about this topic. Check it out.

    What does ‘the restructuring tsunami’ mean for annuities?

    {October 17th, 2022} by Susan Rupe

    The emergence of private equity and asset-manager-backed insurance companies is leading to what Conning researchers call “a restructuring tsunami” in the annuity industry. Scott Hawkins, Conning managing director and head of insurance research, described the role of new parties entering the annuity market and the shifting competitive landscape during the American Council of Life Insurers’ […]

    The top 4 most common types of investment fraud

    {October 17th, 2022} by Wink's Response

    Wink’s Response: I didn’t know that annuities were one of the four most common types of investment fraud. I mean, that makes it sound like annuity sales are only as high as they are because of all the fraud that is occurring, right? I also didn’t know that annuities had “high commissions and fees.” I […]

    I can’t wait to hear what my people (that’s YOU!) think of this!

    {October 17th, 2022} by Sheryl Moore

    What do you think?    Join in the conversation on LinkedIn HERE.   

    Let’s try again: What do you think?

    {October 17th, 2022} by Sheryl Moore

    The last time I asked “what do you think” to a Burt Snover post, I unleashed a firestorm. Let’s try again. What do YOU think?  Click HERE to join in the conversation on LinkedIn.    

    Volatility Controlled Strategies: Just Sizzle or Steak?

    {October 17th, 2022} by Charlie Gipple

    Wink’s Note: Which is better on an indexed annuity- the S&P 500 capped, or a hybrid index with a participation rate? Charlie Gipple, CFP®, CLU®, ChFC® explains here, why the response is “that depends.” – sjm       

    10-Year Treasury

    {October 17th, 2022} by Sheryl J. Moore

    Who knew, when I was bellyaching about the 10-Year Treasury being less than 2.00% at the beginning of this year, that it would more than double by the close of the year? Craziness.

    What does ‘the restructuring tsunami’ mean for annuities?

    {October 13th, 2022} by Susan Rupe

    The emergence of private equity and asset-manager-backed insurance companies is leading to what Conning researchers call “a restructuring tsunami” in the annuity industry. Scott Hawkins, Conning managing director and head of insurance research, described the role of new parties entering the annuity market and the shifting competitive landscape during the American Council of Life Insurers’ […]

    SEC’s technical glitch won’t slow rulemaking, experts say

    {October 12th, 2022} by Mark Schoeff Jr.

    A technical glitch that prevented the Securities and Exchange Commission from receiving some comment letters on several proposals is not expected to slow the pace of rulemaking. Click HERE to read the full story via InvestmentNews

    Corebridge Financial Names Terri Fiedler President of Retirement Services Terri Fiedler, President of Retirement Services, Corebridge Financial (Photo: Business Wire)

    {October 12th, 2022} by Corebridge Financial, Inc

    HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (NYSE: CRBG) today announced that Terri Fiedler has been named President of its Retirement Services business, effective immediately. She will continue to report to Kevin Hogan, Chief Executive Officer, Corebridge Financial. “Terri is a proven leader for Corebridge Financial and across the industry, and she now will bring her commitment to […]

    Whittling Down: In 2023, Cuna Mutual Group Prepares to Rebrand and Focus on Middle Market

    {October 12th, 2022} by Terrence Dopp

    Life insurers spent years chasing the whales: high net worth individuals who could shoulder large policies and might just be in the market for a host of ancillary financial and protection products. But not Robert Trunzo, president and chief executive of Cuna Mutual Group. As he tells it, the company’s bread and butter lies in what […]

    AM Best Affirms Credit Ratings of Ohio National Financial Services, Inc. and Its Subsidiaries

    {October 12th, 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 ICR) of “a+” (Excellent) of The Ohio National Life Insurance Company (ONLIC) and its wholly owned subsidiary, Ohio National Life Assurance Corporation (together referred to as Ohio National Life Group). These companies are the principal […]

    AM Best Assigns Credit Ratings to GCU

    {October 12th, 2022} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent) to GCU (Beaver, PA). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect GCU’s balance sheet strength, which AM Best assesses as adequate, as well as its strong operating performance, […]

    Jackson to Report Third Quarter 2022 Financial Results

    {October 12th, 2022} by Jackson Financial Inc.

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) will announce financial results for the third quarter ended September 30, 2022 after market close Wednesday, November 9, 2022. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Thursday, November 10, 2022 at 10 a.m. ET to review […]

    AIG to Report Third Quarter 2022 Financial Results on November 1, 2022 and Host Conference Call on November 2, 2022

    {October 12th, 2022} by AIG

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) will report financial results for the third quarter after the market closes on Tuesday, November 1, 2022. AIG’s press release and financial supplement will be available in the Investors section of AIG’s website at https://www.aig.com. AIG will also host a conference call on Wednesday, November 2, 2022 at […]

    Investor and Advisor Recession Concerns Mirror Levels Seen at Height of Pandemic

    {October 12th, 2022} by Nationwide

    Inflation and volatility deflate retirement confidence, eighth annual Advisor Authority study finds COLUMBUS, Ohio, Oct. 10, 2022 /PRNewswire/ — The current macroeconomic environment has created a stressful situation for investors and advisors, leading to a sharp decrease in their optimism. Just 39% of investors are optimistic about their 12-month financial outlook, a 10-percentage point decrease from last […]

    Talcott Financial Group Announces $7 Billion Block Reinsurance Transaction with Guardian

    {October 12th, 2022} by Talcott Financial Group

    HAMILTON, Bermuda, Oct. 6, 2022 /PRNewswire/ — Talcott Financial Group (“Talcott”), an international life insurance group and the insurance industry’s trusted partner for comprehensive risk solutions, today announced a reinsurance transaction between its subsidiary, Talcott Resolution Life Insurance Company (“Talcott Resolution”), and The Guardian Insurance & Annuity Company, Inc. (“GIAC”), a wholly owned subsidiary of The Guardian […]


    {October 12th, 2022} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., Oct. 4, 2022 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF), 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 announced that Ray Marine and Don DuBois have been named Co-Presidents […]

    Senior Market Sales® Acquires Ohio Family of Businesses Spanning 3 Generations

    {October 12th, 2022} by Senior Market Sales

    Gerber and Associates LLC Will Continue Family Legacy With Insurance and Financial Services OMAHA, Neb., Oct. 4, 2022 /PRNewswire/ — Senior Market Sales® (SMS), one of the industry’s premier insurance marketing organizations, has acquired a family of full-service insurance businesses in Ohio spanning three generations of the Vic Gerber Sr. family. SMS President Jim Summers said the acquisition preserves the legacy of Gerber and Associates founder Vic […]

    Ameritas awards $5,000 Life Lessons scholarship

    {October 12th, 2022} by Ameritas

    LINCOLN, Neb., Oct. 11, 2022 /PRNewswire/ — In partnership with Life Happens, Ameritas has awarded Damien Duff a $5,000 college scholarship to further his education at Somerset Community College in Somerset, Kentucky, where he is majoring in criminal justice. The Life Lessons scholarship program is designed to encourage college students and college-bound high school seniors to share their personal experiences regarding the importance of life […]

    SURVEY: Americans concerned U.S. economy will get worse before it gets better

    {October 12th, 2022} by Nationwide

    Consumers looking to cut back on insurance coverage aren’t considering financial impact of future losses COLUMBUS, Ohio, Oct. 4, 2022 /PRNewswire/ — Increased interest rates, climbing inflationary costs and a higher cost of living are concerning consumers as they fear a looming recession, leaving them feeling unprepared when it comes to their personal finances. A recent Nationwide Agency Forward […]

    Pacific Life and Human API Partner to Further Transform the Life Insurance Buying Experience

    {October 12th, 2022} by Pacific Life

    October 11, 2022 01:30 PM Eastern Daylight Time NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life today announced a strategic partnership with Human API, a leading electronic health records provider. By incorporating access to electronic health records and attending physician statements through Human API’s platform, applicants can benefit from a more seamless underwriting experience. Pacific Life is focused […]

    4% Rule Is Based on Faulty Assumptions, New Paper Argues

    {October 12th, 2022} by John Manganaro

    The 4% withdrawal rule is one of the most broadly cited retirement planning rules of thumb discussed by retirement advisors and their clients. Defined basically, the rule suggests a given client in retirement should add up all of their investments and simply plan to withdraw 4% of their total wealth during their first year of […]

    11 Confusing Annuity Tax Rules Financial Advisors Should Know

    {October 12th, 2022} by Emily Holbrook

    Annuities, or long-term investment contracts issued by insurance companies, are designed to help protect investors from the risk of outliving their income. There are several types of annuity contracts, each with their own level of risk, payout potential, and associated tax rules. One of the main tax advantages of annuities is they allow investments to […]

    Fidelity Readies Annuity Platform for 401(k) Assets

    {October 12th, 2022} by John Manganaro

    Last November, Fidelity Investments announced plans to create a new retirement income solution called Guaranteed Income Direct, designed to support individuals as they convert a portion of their 401(k) or 403(b) savings into a guaranteed annuity. At the time, Keri Dogan, a senior vice president of retirement solutions at Fidelity, highlighted the nearly 8 million […]

    What the Future of Annuities Means for Advisors

    {October 12th, 2022} by John Manganaro

    While many in the financial planning world are still studying up on the best ways to communicate about and deliver annuities to retirement planning clients, Kelli Hueler, CEO and founder of Hueler Cos., has been working on the challenge for many years. Hueler founded her firm in 1987, and today Hueler Cos. is recognized as […]

    Life Insurance Application Flow Slows Again

    {October 12th, 2022} by Allison Bell

    Inflation, market gloom and a scarcity of life insurance agents cast a shadow over U.S. life insurance application activity in September. Overall application activity was 7.8% lower last month than in September 2021, according to MIB Group’s new U.S. application activity report. Click HERE to read the full story via ThinkAdvisor

    DOL Issues New Independent Contractor Rule

    {October 12th, 2022} by Melanie Waddell

    The Labor Department released Tuesday a proposed rule that would replace the existing 2021 test under the Fair Labor Standards Act used to determine worker classification as either an independent contractor or an employee. The new Labor rule would replace the 2021 rule that went into effect as a result of a ruling in March […]

    A shifting credit cycle creates opportunities for insurers

    {October 12th, 2022} by Matthew Daly

    Monetary policy around the world is changing as many central banks are attempting to tighten financial conditions in order to control rampant inflation. As illustrated below, negative-yielding sovereign debt has seen a nearly 10-fold decline across the globe. The tightening has generated recession fears and market volatility, and has contributed to wider corporate spreads.  Click […]

    Integrity Expands Insurtech Innovation with Launch of New LeadCENTER Platform

    {October 12th, 2022} by Integrity Marketing Group, LLC

    DALLAS – OCTOBER 6, 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 the launch of its proprietary new LeadCENTER platform, available exclusively to Integrity Partners and their contracted agents, advisors and agencies. The forward-looking move further illustrates […]

    Analysts Look Inside Private Equity-Owned Insurers’ Vaults

    {October 11th, 2022} by Allison Bell

    U.S. life insurers that are owned by private equity firms hold more alternative assets than other life insurers, but, overall, their bonds have high ratings, according to analysts at the National Association of Insurance Commissioners. Analysts Jennifer Johnson and Jean-Baptiste Carelus found that private equity-owned life and annuity issuers’ total investment holdings fell 4.5% between Dec. 31, 2020, […]

    Top 10 Insurance brands

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

    Top 10 Insurance Brands, by Impressions, as reported by InsuranceNewsNet: 10. CarShield 9. UnitedHealthcare 8. Northwestern Mutual 7. Farmers Insurance 6. USAA 5. State Farm 4. Allstate 3. GEICO 2. Progressive 1. Liberty Mutual

    The first ingredient that one needs to be succesful in this market!

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

    I don’t endorse any company or product. However, I hope that direct-to-consumer (D2C) sales of annuities take off. One company that seems to be succeeding, where others are struggling is Puritan Life Insurance Company of America, with their Canvas Annuities. I’ve got their shirt on, and my eyes on them. I particularly like the back of […]

    Zurich appoints Raul Vargas CEO of Farmers Group, Inc.

    {October 11th, 2022} by Zurich

    Zurich Insurance Group (Zurich) announced today that Raul Vargas has been appointed Chief Executive Officer of Farmers Group, Inc., a wholly owned subsidiary, and as a member of the Zurich Group Executive Committee. Mr. Vargas is currently President of Distribution, Life and Financial Services for Farmers Group, Inc. He oversees the sales and distribution activities, […]

    As the Market Falls, New Retirees Need a Plan

    {October 11th, 2022} by David Rodeck

    Anyone newly retired or nearly so must feel like they have the worst timing in the world. A portfolio tends to be largest near retirement, just before those savings are about to be drawn down. These days, however, most portfolios have lost value; the S&P 500 is down about 20% so far this year. Click […]

    Though deals likely to rise, states slow to adopt insurance business transfer laws

    {October 11th, 2022} by John Hilton

    The environment is ripe for insurers to move run-off or closed blocks of insurance in blockbuster transactions. And it would help if more states passed insurance business transfer laws. Insurance deals are set to rise dramatically, according to the 2022 Global Insurance Run-off Survey released last month by PwC.  Click HERE to read the full […]

    Biden independent contractor rule has implications for financial services

    {October 11th, 2022} by John Hilton

    The Department of Labor unveiled a proposal today that would make it harder for companies to treat workers as independent contractors, potentially upending several industries, including financial services. Who is considered a company’s employee, who is entitled to various legal protections, and who is an independent contractor has shifted over the last decade. Workers are increasingly turning […]

    NAIC panel inching forward on life insurance illustration reg revision

    {October 11th, 2022} by John Hilton

    State insurance regulators inched closer to reopening the overall model regulation governing life insurance illustrations today. During a conference call, members of the Indexed Universal Life Illustration subgroup agreed to come up with some ideas for targeted revisions to the Life Insurance Illustrations Model Regulation (#582). Creating model regulation #582 was an acrimonious process that […]

    DOL Looks To Restrict Ability To Treat IBD Reps As Independent Contractors

    {October 11th, 2022} by Tracey Longo

    The U.S. Department of Labor has proposed a rule that would make it more difficult for independent broker-dealers (IBDs), insurers and other companies to treat professionals who want to hang out their own shingles as independent contractors. The proposal would require that workers be considered a company’s employees, who are entitled to more benefits and […]

    Annuities Offer Little Benefit To Wealthier Retirement Savers, Morningstar Says

    {October 11th, 2022} by Tracey Longo

    With annuities sales soaring to highs not seen since the Great Depression and the industry on the verge of successfully lobbying Congress to make annuities an automatic default option in retirement plans, Morningstar has released research that says annuities deliver little benefit to investors above certain wealth levels. Click HERE to read the full story […]

    Life insurance can be a valuable asset for seniors battling inflation

    {October 11th, 2022} by Lucas Siegel

    Selling life insurance policies can help retirees meet expenses, but such transactions, known as life settlements, are overlooked by the financial planning world. Click HERE to read the full story via InvestmentNews

    JPMorgan Chase & Co. Analysts Add New Coverage to Corebridge Financial (NYSE:CRBG).

    {October 11th, 2022} by Elaine Mendonça

    It has been reported that research analysts working for JPMorgan Chase & Co. have begun covering shares of Corbridge Financial (NYSE: CRBG) in a research note that was published on Monday. It was The Fly that provided us with the information. The company has provided a rating for the stock described as “neutral.” Click HERE […]

    ‘We’re likely to see one of the greatest transfers of intergenerational wealth,’ as $68 trillion set to ‘reshape economy,’ says head of TIAA

    {October 11th, 2022} by MarketWatch

    For 25 years, we at MarketWatch have made retirement one of our core coverage areas. We have tried to help our readers navigate the fraught and often confusing issues surrounding saving, investing and preparing for this post-career period of their lives Click HERE to read the full story via MarketWatch

    AM Best Downgrades Credit Ratings of Catholic Order of Foresters

    {October 11th, 2022} by AM Best

    Oldwick //BestWire// – AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Catholic Order of Foresters (COF) (Naperville, IL). The outlook of these Credit Ratings (ratings) has been revised to stable from negative. The ratings reflect […]

    Wink office will be closed on Monday, October 10

    {October 4th, 2022} by Wink's Intel Pros

    The Wink office will be closed on Monday, October 10th in observance of the holiday. 

    Great American Life Unveils new Brand as MassMutual Ascend

    {October 4th, 2022} by Great American Life Insurance Company

    CINCINNATI–(BUSINESS WIRE)–Great American Life Insurance Company announced today that it will now do business as MassMutual Ascend Life Insurance Company (MassMutual Ascend). The rebrand comes as a result of the company’s acquisition by Massachusetts Mutual Life Insurance Company (MassMutual) in May 2021. The name MassMutual Ascend came about after conducting thorough market research, competitor reviews […]

    Sagicor’s IUL portfolio offers new interest crediting strategies linked to iShares® ETFs

    {October 4th, 2022} by Sagicor Life Insurance Company

    SCOTTSDALE, Ariz., Sept. 29, 2022 /PRNewswire/ – Sagicor® Life Insurance Company (Sagicor) announces new interest crediting strategy options to their indexed universal life (IUL) insurance portfolio effective October 1, 2022. These options will be linked to the performance of iShares ETFs managed by BlackRock®, a global asset manager and technology provider focused on helping millions of people invest to […]

    A.M. Best, S&P Global Ratings Each Affirm Strong Performance by OneAmerica

    {October 4th, 2022} by OneAmerica

    INDIANAPOLIS, Sept. 28, 2022 /PRNewswire/ — OneAmerica® today announced that A.M. Best and S&P Global Ratings have each separately recognized American United Life Insurance Company® (AUL) and its affiliate The State Life Insurance Company® (State Life), both OneAmerica companies, for their financial strength. A.M. Best affirmed an A+ (Superior) rating, which is the second-highest of 15 rating categories assigned by […]

    UL can be a valuable tool

    {October 4th, 2022} by Sheryl J. Moore

    Did you know that all types of universal life are similar to term life insurance, with a savings component, all in a single permanent product? -sjm

    16 Ways To Keep A Seasonal Business Financially Healthy Year-Round

    {October 4th, 2022} by Forbes Finance Council

    5. Leverage A Line Of Credit Seasonal businesses can use a line of credit during leaner times, if necessary. This allows you to continue paying expenses while revenue is not as plentiful. Then, when revenue is back up, pay down the line of credit. The line of credit works as a great tool when smoothing […]

    Enhancing The Digital Life Insurance Sales Experience Technology Is Revealed

    {October 4th, 2022} by Ken Leibow

    The digital life insurance sales experience is continuously improving in both agent facing or consumer facing software applications. So what are some of the technologies responsible for these enhancements and why should you know? Look, I don’t want to scare you from reading the rest of this article with technical terms like Electronic Health Records, […]

    When Life Is Not A Hoot

    {October 4th, 2022} by David J. Murphy

    “Every morning in Africa, an antelope wakes up. It knows it must outrun the fastest lion, or it will be killed. Every morning in Africa, a lion wakes up. It knows it must run faster than the fastest antelope, or it will starve. It doesn’t matter whether you’re a lion or an antelope—when the sun […]

    Multiple Product Lines: The Convenience Of Walmart But The Expertise Of The Mayo Clinic

    {October 4th, 2022} by Charlie Gipple

    On a monthly basis I get automatic reports that are generated from my CRM system. These reports are sorted out by the agents that work with my IMO and show what policies are coming to the end of the term within the next 60-days. For instance, a two year multi-year guaranteed annuity that was written […]

    Is Your IMO Working For Your Success?

    {October 4th, 2022} by Michael Clementi

    GA, BGA, IMO…the list of acronyms can vary depending on who you’re talking to. Opinions on which brokerage general agency or independent marketing organization to work with can vary even more. The decision can be almost as important as deciding who you’re going to marry! In my four years as a field support representative for […]

    Volatility-proofing your client’s retirement nest egg

    {October 4th, 2022} by Tom Henske

    Investors have experienced higher than normal volatility with their investment portfolios recently. As such, the topic of “sequence of returns” has started once again to come to the forefront of discussions between clients and their investment advisors. It is no surprise that a significant risk to retirement portfolios occurs when distributions that are taken from those portfolios […]

    6 Trends That Upend Past Thinking About Retirement Planning

    {October 4th, 2022} by John Manganaro

      As noted by Pacific Life’s Reed Lloyd in a recent conversation with ThinkAdvisor, it is a basic fact of life in the U.S. today that traditional defined benefit pension plans are in decline. Data from the Social Security Administration — and many other sources — backs up the statement. The SSA’s data, for example, […]

    Accelerated Underwriting and COVID-19: Life Insurance Lessons Learned

    {October 4th, 2022} by Catie Muccigrosso

    The COVID-19 pandemic introduced new challenges and opportunities for life insurers. Deaths from SARS-CoV-2 not only pressured benefit costs, but also increased consumer demand for life insurance products. Meanwhile, conducting medical exams and blood tests — the mainstays for procuring underwriting information — became nearly impossible due to public policy decisions made in an effort […]

    New DOL Fiduciary Rule Faces Another Delay

    {October 4th, 2022} by Melanie Waddell

    The Department of Labor’s new fiduciary rule is facing another delay, and likely won’t be sent to the Office of Management and Budget for review until the first quarter, according to retirement industry experts. The reveal of Labor’s new rule to define who’s a fiduciary “will probably slip to the first quarter next year,” Phyllis […]

    Regulators, industry execs disagree on indexed-linked regulation details

    {October 4th, 2022} by John Hilton

    Inclusion of a “market value adjustment” remains a sticking point as state insurance regulators close in on a new actuarial guideline to fit trendy indexed-linked annuities into variable annuity nonforfeiture rules. The Index-Linked Variable Annuity Subgroup was created last year by a National Association of Insurance Commissioners task force to focus solely on the index-linked […]

    iCover adds Jim Sorebo as Chief Distribution Officer

    {October 4th, 2022} by iCover

    CHESTERFIELD, MO, USA, October 3, 2022 — iCover, a Missouri-based Insurtech that provides an algorithmic underwriting and QUI based eApp Service for life insurance companies has announced the appointment of Jim Sorebo as its Chief Distribution Officer.   Jim Sorebo was Founder & President of Four Seasons Financial Group, an independent insurance and annuity wholesale […]

    Life and Annuity Talking Points for the Fall

    {October 4th, 2022} by Bryce Sanders

    Labor Day is behind us. It’s time to roll up your sleeves and get to work. I always felt that way when I was a financial advisor in production. When clients and prospects send their children off to school and see Costco putting Christmas trees in stores, they may feel the same way. As the […]

    Life Insurance Policy Administration Systems Market Is Set to Fly High in Years to Come

    {October 4th, 2022} by ReleaseWire: AMA Research

    New Jersey, USA — (SBWIRE) — 10/02/2022 — The latest study released on the Global Life Insurance Policy Administration Systems Market by AMA Research evaluates market size, trend, and forecast to 2027. The Life Insurance Policy Administration Systems market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key […]

    Who wants to be a millionaire? — with Tom Hegna

    {October 4th, 2022} by Paul Feldman

    Tom Hegna has spent his decadeslong career helping advisors and their clients create successful retirement plans, teaching them how to have income they’ll never outlive, how to reduce retirement risks, and successfully pass on wealth. His passion for these topics is obvious — and contagious. His books, videos and personal appearances have reached millions, and […]

    The Time to Buy Annuities for Retirement Is Now: Jim Wagner

    {October 4th, 2022} by Allison Bell

    Jim Wagner wants to stick to the annuity basics: helping more real people get more real retirement income protection. Wagner has been the chief distribution officer for the retirement division at Protective, a Birmingham, Alabama-based life insurance and annuity issuer, since 2020. After earning a bachelor’s degree from Ohio Wesleyan University, he started out in […]

    Whole Life Insurance Market May See a Big Move : Major Giants AIG, Aviva, Metlife: Whole Life Insurance Market 2022-2028

    {October 4th, 2022} by ReleaseWire: HTF MI

    New Jersey, NJ — (SBWIRE) — 09/30/2022 — Whole Life Insurance Market – Global Outlook and Forecast 2021-2027 is latest research study released by HTF MI evaluating the market risk side analysis, highlighting opportunities and leveraged with strategic and tactical decision-making support. The report provides information on market trends and development, growth drivers, technologies, and the changing […]

    Unbundled, untied & un-mutualized: The road to fiduciary

    {October 4th, 2022} by Richard Weber

    One of the biggest trends in the sale of life insurance is the increasing demand for standards of care. Should all life insurance advisors be held to a fiduciary standard? Or is a suitability standard still acceptable? And how did we get to this point? Let’s take a look at the chain of events that […]

    Life and Annuity Advisors Wake Up to Hurricane Ian Devastation

    {October 4th, 2022} by Allison Bell

    Life, health and annuity groups are starting to plan their response to the damage done by Hurricane Ian. The National Association of Insurance and Financial Advisors has started the recovery effort by encouraging members to donate to its NAIFA Family Response Fund, and by encouraging NAIFA members affected by Ian, as well as Hurricane Fiona, […]

    Just Save Something

    {October 4th, 2022} by Richard Baker

    “Dad, will you help me change out my headlights?” My son is just days away from his birthday and getting his driver’s license. He bought a truck in May with his own money and can hardly wait for the freedom and fun that comes with a driver’s license. My wife and I could have bought […]

    SLUSA Dismissal Affirmed in Variable Annuity Class Action: Eleventh Circuit Looks Behind Artful Pleading

    {October 4th, 2022} by John Clabby

    The Eleventh Circuit Court of Appeals recently affirmed the dismissal of a putative class action against a brokerage firm and its parent company, holding that the Securities Litigation Uniform Standards Act (SLUSA) barred the action. In Cochran v. Penn Mutual Life Insurance Co., the Eleventh Circuit also formally accepted case law from sister circuits that it […]

    Barron’s List of Top RIA Firms Brings Plenty of Movement but No Surprises

    {October 4th, 2022} by Abriana Gonzalez

    Barron’s has released its seventh annual ranking of the top registered investment advisor firms. Folks familiar with the rankings won’t be surprised by the leader: Edelman Financial Engines, which has now occupied the top spot on the Barron’s list five years running. Without revealing the precise mixture of its secret sauce, Barron’s notes that the rankings […]

    What You Think and What Retirement Clients Want Are Different

    {October 4th, 2022} by Richard J. Leider and Suzanne Norman

    As people grow older, they naturally contemplate what matters most to them. In particular, they aim to live a life that is meaningful and makes a positive contribution to the world. Wealthy or not, this universal ambition is grounded in the truth that our lives are fundamentally worth living and that each of us matters. […]

    In The Game Of Life (Insurance) One Size Does Not Fit All

    {October 4th, 2022} by Farron Blanc

    The United States life insurance market is unique. While other countries have three to five national champions that own 70% of the market share, the U.S. has hundreds of life insurance carriers sharing the risk. This makes the consumer advice that insurance producers provide especially important, given the current inflationary environment. Click HERE to read […]