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Archive for July 2023

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  • AuguStar Retirement enters the annuity marketplace offering best-in-class products and services, led by a team of market-tested industry leaders

    {July 25th, 2023} by Constellation Insurance Inc.

    CINCINNATI, July 19, 2023 /PRNewswire/ — Constellation Insurance, Inc. (Constellation) announces the entry of AuguStar Retirement into the annuity marketplace, committed to creating value for clients and forging long-term advisor relationships. Constellation is a leading insurance holding company serving consumers and small business owners in the United States and Latin America through its family of insurance companies which collectively have over $34 […]

    American National Insurance Unveils Bold Rebranding Initiative

    {July 25th, 2023} by American National Insurance Company

    Galveston, Texas, July 17, 2023 — American National Insurance Company, a trusted name in insurance and annuities since 1905, today announced a comprehensive rebranding initiative to modernize its brand and position the company to better compete among the best brands in the industry. As part of this transformation, the company unveiled a vibrant new logo […]

    High Rates Make Annuities Hot Investments. The 100 Best

    {July 25th, 2023} by Karen Hube

    Annuity sales are in full bloom this year.  This guide will help you understand the costs of these hybrid insurance-investment products and how to pick the right one for your needs. We have included a selection of 100 annuities with the most competitive payouts or guarantees, all offered by insurers with top credit ratings.  Click […]

    Two-Thirds of Americans Say Their Financial Planning Needs Improvement

    {July 25th, 2023} by Northwestern Mutual

    MILWAUKEE, July 24, 2023 /PRNewswire/ — Americans say their financial planning needs improvement and that having a financial advisor boosts confidence, yet only 37% work with one according to Northwestern Mutual’s 2023 Planning & Progress Study. The data finds that two-thirds of Americans (66%) believe their financial planning needs improvement, a 4 percentage-point uptick from the previous year. This […]

    AM Best Affirms Credit Ratings of Pacific LifeCorp and Its Subsidiaries

    {July 25th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Pacific Life Insurance Company and Pacific Life & Annuity Company (collectively referred to as Pacific Life Group). Both companies are headquartered in Newport Beach, CA. Additionally, AM Best has affirmed the […]

    The ‘Great Wealth Transfer’ Is Underway but Nearly Half Expecting an Inheritance Are Not Ready to Manage It, Finds New York Life Wealth Watch Survey

    {July 25th, 2023} by New York Life

      NEW YORK–(BUSINESS WIRE)–The “Great Wealth Transfer” is underway and 15% of American adults expect to receive an inheritance in the next decade, according to the latest findings from the New York Life Wealth Watch survey. While inherited wealth may provide a financial lift for some, overall, Americans’ financial progress is impacted by inflation, growing […]

    Prudential Financial to Reinsure $12.5B Guaranteed Universal Life Block with Somerset R

    {July 25th, 2023} by Prudential Financial

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) announced today an agreement to reinsure a portion of its guaranteed universal life block with Somerset Re, resulting in approximately $450 million of proceeds.1 Under the terms of the agreement, Somerset Re will reinsure approximately $12.5 billion of reserves backing Prudential’s guaranteed universal life policies issued by Pruco […]

    Global Atlantic’s Your Thriving Practice Podcast Examines the 60/40 Asset Allocation Strategy

    {July 25th, 2023} by Global Atlantic

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, today released its latest Your Thriving Practice podcast series, “60/40: One Year Later,” which explores the failure of the 60/40 portfolio in 2022, its effect on investors’ savings, its 2023 rebound, and how to think […]

    Lincoln, ex-agent, settle on mediator for lawsuit over FIA returns

    {July 25th, 2023} by John Hilton

    Lincoln Financial and nine plaintiffs – including a former Lincoln agent – suing over fixed indexed annuity performance agreed on a mediator to settle the dispute. Both sides accepted John DeGroote of DeGroote Partners, a Dallas mediation and arbitration firm, according to court documents. The parties were ordered to name a mediator, or state that […]

    Indexed products: Why so popular and what are the downsides?

    {July 25th, 2023} by John Hilton

    Senior Editor John Hilton interviewed Sutton White, head of Annuity Product at Life Innovators, during the recent NAFA Annuity Leadership Forum to discuss how indexes work and why indexed products resonate so well with consumers. But threats lurk, mainly from regulators who want to crack down on proprietary indices. Click HERE to watch the full […]

    Policyholders still waiting as regulators unwind Greg Lindberg insurers

    {July 25th, 2023} by John Hilton

    For many policyholders who purchased life insurance or annuities through Bankers Life, or another insurer formerly owned by Greg Lindberg, the wait to access their frozen funds is difficult to accept. Todd Davis, a Dillon, S.C.-based insurance agent, placed several policies with Lindberg-owned insurers. That was before Lindberg was charged with bribery, fraud and a […]

    Should you tell your kids how much they’ll inherit?

    {July 25th, 2023} by Gregg Greenberg

    The Great Wealth Transfer is underway, but advisors say open dialogue within families is crucial to success. Click HERE to read the full story via InvestmentNews

    Northwestern Mutual kicks off #LemonTopChallenge in honor of childhood cancer patients and survivors

    {July 25th, 2023} by Northwestern Mutual

    MILWAUKEE, July 24, 2023 /PRNewswire/ — Northwestern Mutual is kicking off a unique social media challenge today to generate awareness for a cause the company has been supporting for more than a decade – finding better treatments and cures for childhood cancer. For consumers who share a photo or video featuring themselves or someone else balancing a lemon on their […]

    Nationwide Adds an Annuity With 2 Buffer Choices

    {July 25th, 2023} by Allison Bell

    Nationwide has confirmed that it likes the registered index-linked annuity market by adding a second RILA contract. The Columbus, Ohio-based insurer introduced the Nationwide Defender Annuity contract Monday. The product is registered with the Securities and Exchange Commission as a variable annuity, with the investment option menu mostly powered by investment market indexes, and offers […]

    Leveraging Life Insurance

    {July 25th, 2023} by Wm. Scott Page

    Life insurance policies are long-term financial commitments individuals make to protect their loved ones or meet specific financial goals. Regularly appraising life insurance policies is crucial as it ensures that the financial plans align with a client’s evolving needs. As circumstances change and clients age, their policy may no longer adequately protect their loved ones […]

    Gen Z and the future of life insurance: Adapting to a new generation

    {July 25th, 2023} by Bob Gaydos

    Generation Z represents one of the largest demographics in the U.S. – more than 68 million. This makes them a huge target market for the life insurance industry. However, given that only 37% of Gen Z adults are predicted to have life insurance by 2025, it’s clear that there’s a huge gap in the market. Click HERE […]

    Ohio National to Become AuguStar Life

    {July 25th, 2023} by Allison Bell

    The company that bought Ohio National is changing the company’s name to AuguStar Life and getting ready to sell new life insurance products. Constellation Insurance announced Monday that AuguStar Life will sell indexed universal life and indexed whole life through agents and independent marketing organizations. Clients can use those products in retirement income planning, long-term […]

    Best Whole Life Insurance Companies of 2023

    {July 25th, 2023} by Sarah Li Cain | Reviewed by David C. Marlett, Ph.D., CPCU |

    A type of permanent life insurance, whole life insurance guarantees the insured person is covered as long as premiums are paid. This type of policy also guarantees a specific death benefit and offers a savings component called the cash value portion of your policy. Whole life insurance provides significant benefits compared with other types of […]

    American Interest in Adding Annuities to 401(k)s Still Rising

    {July 25th, 2023} by Brian Anderson

    It’s not surprising that an annuity provider would release a study saying Americans’ interest in adding annuities to employer-sponsored retirement plans is on the rise, but that doesn’t make it any less true. As the SECURE Act of 2019 opened the door for annuities to become part of employer-sponsored retirement plans like a 401(k), awareness—and […]

    Global Atlantic Raised Over $2.4 Billion of Third-Party Capital for its Second Reinsurance Co-Investment Vehicle

    {July 25th, 2023} by Global Atlantic Financial Group

    New York, NY – July 10, 2023 — Global Atlantic Financial Group (“Global Atlantic”) has announced the final close of Ivy Co-Invest Vehicle II LLC (“Ivy II”), a reinsurance co-investment vehicle. With the final close, Ivy II brings its total capital to more than $2.4 billion, which it will deploy, on behalf of its investors, […]

    Insurance and Annuity Plans Need Flexibility

    {July 25th, 2023} by Allison Bell

    Clients need life insurance policies and annuities that will suit who they are in the future, not just today. Paul Wetmore, a financial services industry consultant at Gerson Lehrman Group, gave that advice earlier this week in an email interview. “Some products have built-in flexibility,” Wetmore said. “Others can be packaged with additional features to […]

    Fidelity Starts an Annuity Reinsurer in Bermuda

    {July 25th, 2023} by Allison Bell

    Fidelity Investments is starting a Bermuda-based reinsurer that will start out reinsuring retail fixed annuities issued by the company’s Fidelity Investment Life Insurance Co. business. The new reinsurer, Soteria Reinsurance Ltd., will also provide reinsurance for Fidelity Investment Life moves to absorb employers’ pension plan risk through pension risk transfers, according to a brochure posted by Fidelity’s […]

    Nassau Financial Forms $8.4B Specialty Credit Arm

    {July 25th, 2023} by Allison Bell

    Nassau Financial Group — a company that’s been active in the U.S. annuity market — is taking a higher-profile approach to investing in bonds and loans. The Hartford, Connecticut-based company announced earlier this week that it has combined its own credit investment unit with a newly acquired firm, Angel Island Capital Management, to start Nassau Global Credit, a specialty […]

    Investment Service and Product Launches

    {July 25th, 2023} by Alex Ortolani

    The Massachusetts Mutual Life Insurance Co. has, for the first time, added a buffer fund to its variable annuity offering to cushion downside losses with participation in potential upside gains. The Cboe Vest U.S. Large Cap 10% Buffer Strategies VI Fund is the first buffer fund available in the MassMutual Envision Variable Annuity lineup of more […]

    Bain Creates $1.15B Insurance Private Equity Fund

    {July 25th, 2023} by Allison Bell

    Bain Capital says it now has $1.15 billion in cash it can use to fund insurance deals. The Boston-based investment firm’s Bain Capital Insurance Fund plans to invest some of the money in insurance companies’ efforts to restructure themselves, carve some operations out from others and turn troubled operations around. The fund will also invest […]

    Nationwide launches new registered index-linked annuity with buffer

    {July 25th, 2023} by Nationwide

    Nationwide Defender Annuity is an innovative, simple solution that makes it easier to customize an accumulation strategy while protecting against volatility     Columbus, OH – At a time when more than half of consumers are concerned about keeping up with inflation and their retirement account losing value, Nationwide has announced the launch of the Nationwide DefenderSM Annuity , a new […]

    Advisor Fights SEC in Annuity Switching Case

    {July 25th, 2023} by Jeff Berman

    The Massachusetts advisor who was charged by the Securities and Exchange Commission in March with defrauding clients as part of an annuity replacement scheme requested that the case be dismissed, arguing that, among other things, he was acting as an insurance agent and not an advisor, which means he didn’t violate the Investment Advisers Act of 1940. In a complaint […]

    1 in 5 Americans don’t think they’ll ever retire, study finds

    {July 25th, 2023} by Nathan Place

    Americans differ widely in terms of when they expect to retire, from their 30s to deep into old age. Now a fifth of the population has another answer: Never. Twenty percent of U.S. adults don’t think they’ll ever retire, according to a new study by the news website Axios and the market research firm Ipsos. Of those respondents, 70% […]

    Insurance Regulators Wrestle With AI Supervision

    {July 25th, 2023} by Allison Bell

    State insurance regulators have drafted rules for how insurers use artificial intelligence. The Innovation Cybersecurity and Technology Committee, an arm of the National Association of Insurance Commissioners, posted a draft AI model bulletin on the NAIC’s website Monday. Click HERE to read the full story via ThinkAdvisor

    Finseca: 3 Ways to Ensure Your Financial Security Will Become a Reality

    {July 25th, 2023} by Finseca

    WASHINGTON, July 24, 2023 /PRNewswire/ — As The Washington Post recently noted, Americans are doing better financially today than before the pandemic – somewhere between 10 and 15 percent have more in their bank accounts today as compared to 2019. And while this is a step in the right direction, true financial security goes beyond just having a little […]

    Lifetime Income Annuities Are Paying More

    {July 25th, 2023} by Ken Nuss

    Lifetime income annuities now pay more than they have in years. With interest rates up, insurers can invest annuity payments in higher-yielding bonds and thus offer much more generous lifetime payouts. This has gotten little media attention. While it’s easy to find rates on certificates of deposit, bonds, fixed-rate annuities and money-market accounts, income annuities […]

    TIAA RetirePlus® sees rapid growth, surpassing 250,000 participant accounts

    {July 25th, 2023} by TIAA

    NEW YORK, July 24, 2023 /PRNewswire/ — TIAA RetirePlus® has recently grown to over 250,000 individual participant accounts. Demand for RetirePlus has been fueled by its ability to provide retirement plans with guaranteed growth during accumulation, asset allocation and guaranteed income in retirement, all at a potentially lower cost. “Retirement is becoming even more difficult to finance for Americans, […]

    Moody’s Upgrades Financial Strength Ratings of F&G Annuities & Life’s Operating Companies to ‘A3’

    {July 25th, 2023} by Fidelity & Guaranty Life

    DES MOINES, Iowa, July 21, 2023 /PRNewswire/ — Moody’s Investors Service (“Moody’s”) announced it has upgraded the insurance financial strength (IFS) ratings of F&G Annuities & Life, Inc.’s (NYSE: FG) (“F&G” or the “Company”) insurance subsidiaries to ‘A3’ from ‘Baa1’.  Concurrently, Moody’s has also upgraded the long-term issuer rating of F&G Annuities & Life, Inc. to ‘Ba1’ from […]

    More Americans Interested in Adding Annuities to Employer Retirement Plans

    {July 25th, 2023} by Allianz Life

    MINNEAPOLIS–(BUSINESS WIRE)–A growing number of Americans are interested in adding an annuity to their employer-sponsored retirement plan like a 401(k), according to a new study* from Allianz Life Insurance Company of North America (Allianz Life). In the last few years, interest in annuities as part of an employer-sponsored retirement plan has grown significantly. The study […]

    NAFA CEO talks about 2023 state of the fixed annuity industry

    {July 25th, 2023} by Paul Feldman

    Chuck DiVencenzo, NAFA president and CEO, discusses potential regulation, retirement trends and fixed annuity sales in 2023, with Paul Feldman, InsuranceNewsNet publisher. Click HERE to watch the story via INN

    Driving better portfolio outcomes with annuities

    {July 25th, 2023} by Paul Feldman

    InsuranceNewsNet Publisher Paul Feldman interviewed Igor Zamkovski, head of Indexed Annuities, Retirement Insurance at BlackRock, at the recent NAFA Annuity Leadership Forum. They discussed the role that annuities can play providing guaranteed income during retirement, especially in an uncertain economy, and the value BlackRock sees in annuities during the decumulation period. Click HERE to watch […]

    Constellation Launches AuguStar Annuity Business

    {July 25th, 2023} by Allison Bell

    Constellation Insurance today said its new AuguStar insurance business will sell a full line of individual annuities, not just life insurance. Constellation — the company that acquired Ohio National in 2022 and promised to invest $500 million in reviving it — said the AuguStar Retirement division will write non-variable indexed annuities, multi-year guaranteed annuities, traditional variable […]

    S&C Advises American Equity Investment Life on $4.3 Billion Acquisition by Brookfield Reinsurance

    {July 25th, 2023} by Sullivan & Cromwell LLP Logo

    American Equity Investment Life (AEL), a leading issuer of fixed index annuities through independent agents, banks and broker-dealers, announced that it would be acquired by Brookfield Reinsurance, in a transaction that values AEL at approximately $4.3 billion. AEL shareholders will receive a total of $55 per AEL share in cash and Brookfield stock. Brookfield Reinsurance, a […]

    Brighthouse Adds a Registered Indexed Universal Life Policy

    {July 25th, 2023} by Allison Bell

    Brighthouse Financial has introduced a life insurance policy that may help clients tie policy growth to the performance of the stock market while holding down their federal income taxes. The Charlotte, North Carolina-based company’s new Brighthouse SmartGuard Plus policy is a registered indexed universal life insurance (RIUL) policy. Click HERE to read the full story […]

    Prudential Overcomes Federal Appeal in Annuity Design Case

    {July 25th, 2023} by Allison Bell

    Afederal court of appeals has ruled in favor of Prudential Financial in a case involving a dispute about the creation of a new variable annuity rider. A three-judge panel at the 6th U.S. Circuit of Appeals upheld a lower-court ruling and found that Prudential did not engage in trade secrets misappropriation in 2017 when it […]

    AuguStar sheds Ohio National legacy with ‘all products in all channels’ bid

    {July 25th, 2023} by John Hilton

    When Constellation Insurance sought to dive into the annuity market, the insurer first had to address the difficult legacy of Ohio National. By the time Constellation acquired the troubled insurer in 2022, Ohio National had torched some bridges with producers with its controversial decision to eliminate trailing commissions in 2018. The insurer also ceased selling […]

    AuguStar Retirement enters the annuity marketplace offering best-in-class products and services, led by a team of market-tested industry leaders

    {July 19th, 2023} by AuguStar

    CINCINNATI, July 19, 2023 /PRNewswire/ — Constellation Insurance, Inc. (Constellation) announces the entry of AuguStar Retirement into the annuity marketplace, committed to creating value for clients and forging long-term advisor relationships. Constellation is a leading insurance holding company serving consumers and small business owners in the United States and Latin America through its family of insurance companies which collectively have over $34 […]

    Ohio National’s life insurance business repositioned and rebranded to AuguStar Life

    {July 18th, 2023} by Constellation Insurance Inc.

    CINCINNATI,  July 17, 2023 /PRNewswire/ — Constellation Insurance, Inc. (Constellation) announces the strategic repositioning and rebranding of its Ohio National life insurance business as AuguStar Life. Constellation is a leading insurance holding company serving consumers and small business owners in the United States and Latin America through its family of insurance companies which collectively have over $34 billion in assets under management as […]

    TruStage Announces Enhancements to ZoneChoice™ Registered Index-Linked Annuity

    {July 18th, 2023} by TruStage

    An index from Dimensional provides expanded market exposure and more flexibility to manage risk and returns MADISON, Wis., June 13, 2023 /PRNewswire/ — TruStage™, an insurance, investment and technology provider, announces enhancements to its ZoneChoice registered index-linked annuity (RILA). The enhancements include a new index – the Dimensional US Small Cap Value Systematic Index (“Dimensional Index”) – […]

    Security Benefit Removes Surrender Charges for ClearLine Commission-Free Annuity

    {July 18th, 2023} by Security Benefit

    TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit Life Insurance Company (Security Benefit) today announced the removal of all surrender charges on its commission-free ClearLine fixed index annuity product. ClearLine provides RIAs with multiple portfolio options to help their clients accumulate retirement assets and protect them in a variety of market conditions. “By removing all the surrender charges from […]

    American Equity Announces Second Quarter 2023 Total Sales1 of $2 Billion and Expected Date of Second Quarter 2023 Earnings Results

    {July 18th, 2023} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) (“AEL”) today announced that its second-quarter 2023 sales totaled $2 billion, the majority of which were in fixed index annuities. AEL also announced that it will release its second quarter 2023 earnings results after the market closes on Monday, August 7, 2023. The […]

    MassMutual Adds Its First Buffer Fund to MassMutual Envision Variable Annuity

    {July 18th, 2023} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–The Cboe Vest U.S. Large Cap 10% Buffer Strategies VI Fund (“the buffer fund” or “the fund”) has been added to MassMutual EnvisionSM Variable Annuity (MassMutual Envision VA), making it the first buffer fund available in its lineup of 40+ funds. The fund is also available to contract owners who have elected MassMutual RetirePaySM. The […]

    Nationwide announces new RILA with buffer

    {July 18th, 2023} by Nationwide

    Columbus, OH – July 17, 2023 – At a time when more than half of consumers are concerned about keeping up with inflation and their retirement account losing value, Nationwide has announced the launch of the Nationwide Defender Annuity, a new registered index-linked annuity (RILA) that offers customized growth potential and investment protection to fit investors’ needs in […]

    The Standard’s New ECI Plus Annuity Features Legacy Benefits

    {July 18th, 2023} by The Standard

    PORTLAND, Ore.–(BUSINESS WIRE)–The Standard now offers a new fixed indexed annuity that features an optional enhanced death benefit rider and a proprietary BofA Securities index. The Enhanced Choice Index Plus is a single-premium, deferred index annuity for customers seeking growth, certainty and the opportunity to maximize their legacy. “The ECI Plus is designed to provide benefits […]

    Brighthouse Financial Expands Life Insurance Product Suite With Brighthouse SmartGuard Plus℠

    {July 18th, 2023} by Brighthouse Financial, Inc

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today the launch of Brighthouse SmartGuard Plus, a registered index-linked universal life insurance policy that offers clients guaranteed Distribution Payments that can be used to supplement income in retirement and a guaranteed death benefit. By tracking the performance of well-known market indices, […]

    Global Atlantic Is Going Digital With Electronic Applications for Annuities

    {July 18th, 2023} by Aaron Smith

    But direct-to-consumer annuity sales are a small portion of the market, with just eight insurers offering annuities directly to consumers, totaling 0.4% of deferred annuity sales in the fourth quarter, according to Wink CEO Sheryl Moore. Click HERE to read the full story via Life Annuity Specialist   Wink’s Moore on the Market: I did let Aaron know […]

    Security Benefit Drops Surrender Charge, Income Rider on Indexed Annuity

    {July 18th, 2023} by Cyril Tuohy

    Security Benefit’s changes put them on a more even playing field with the fee-based competition, said Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, which tracks the annuity market. Click HERE to read the full story via Life Annuity Specialist

    PlanEasy Launches Online Distribution of Annuities

    {July 18th, 2023} by Aaron Smith

    Wink CEO Sheryl Moore pointed out that annuities that are sold directly to consumers represent only a small sliver of the overall annuity market, representing just 0.4% of deferred annuity sales in the fourth quarter of 2022. Moore said that eight insurers offer annuities direct to the consumer — Clear Spring Life (through the agency Gainbridge,) Fidelity, MassMutual (via Blueprint Income,) Nationwide, Prudential, Puritan Life (through Canvas,) Security Benefit Life and RiverSource (through Ameriprise.) Click […]

    American Equity Claims $2 Billion in Annuity Sales for Second Quarter

    {July 18th, 2023} by Cyril Tuohy

    “Rates are so attractive that you would have to be doing something wrong not to have solid sales of fixed and indexed annuities right now,” added Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, which tracks the life and annuity market. Click HERE to read the full story via Life Annuity Specialist

    AM Best Affirms Credit Ratings of Guardian Life Insurance Company of America and Its Subsidiaries

    {July 18th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Guardian Life Insurance Company of America (Guardian Life) (New York, NY) and its core subsidiaries, Guardian Insurance & Annuity Company, Inc. (GIAC) (Wilmington, DE) and Berkshire Life Insurance Company of America […]

    Best’s Special Report: U.S. Fraternal Insurers Still Face Challenges, But Balance Sheets For Rated Fraternals Are Solid

    {July 18th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Despite ongoing challenges that have persisted for U.S. fraternal insurance companies over the past decade, the segment has continued to post favorable operating results on an aggregate basis, according to a new AM Best report. The Best’s Special Report, “Balance Sheets of Rated Fraternals Solid Despite Growth Challenges,” states that operating income remained favorable in 2022 […]

    Global Atlantic Subsidiary Named to Ward’s 50 Top Life and Health Insurers for Fourteenth Consecutive Year

    {July 18th, 2023} by Global Atlantic Financial Group

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group, a leading financial services company, today announced that its subsidiary, Forethought Life Insurance Company, has been named a Ward’s 50® top life and health insurance company for the fourteenth consecutive year. Forethought Life Insurance Company is the primary issuer of annuities and preneed life insurance products for Global Atlantic. “We are […]

    Global Atlantic Announces Electronic Application Requirement for Fixed Rate Annuities

    {July 18th, 2023} by Global Atlantic Financial Group

      NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading insurance company meeting the retirement and life insurance needs of individuals and institutions, recently announced its transition to the exclusive use of electronic applications for all multi-year guaranteed fixed-rate annuity sales. In an effort to continue driving the digital transformation of both Global Atlantic and […]

    The Standard Recognized as a Best Place to Work for Disability Inclusion

    {July 18th, 2023} by Standard Insurance Company

    PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company (The Standard) scored 100% on the Disability Equality Index and was named a “Best Place to Work for Disability Inclusion” by the American Association of People with Disabilities, the nation’s largest disability rights organization, and Disability:IN, the global business disability inclusion network. “We are very proud to be included in the 2023 Disability […]

    Security Benefit Named to Ward’s 50® Companies List in the Life-Health Segment

    {July 18th, 2023} by Security Benefit

    TOPEKA, Kan.–(BUSINESS WIRE)–Security Benefit Life Insurance Company has again been named to the Ward’s 50® list for 2023. The Ward’s 50® companies rank as the top performing life-health companies based on Ward’s annual analysis of nearly 700 life-health firms in the insurance industry domiciled in the U.S. Security Benefit Life passed all safety and consistency […]

    Northwestern Mutual Earns Fifth Consecutive Perfect Score on National Disability Equality Index

    {July 18th, 2023} by Northwestern Mutual

    MILWAUKEE, July 13, 2023 /PRNewswire/ — Northwestern Mutual announced today that the company earned its fifth consecutive perfect score on the Disability Equality Index (DEI), a comprehensive benchmarking tool that helps companies build a roadmap of measurable, tangible actions that they can take to achieve disability inclusion and equality. “Fostering an inclusive workplace where everyone feels welcome […]

    Guardian Recognized as Best Places to Work for Disability Inclusion

    {July 18th, 2023} by Guardian

    NEW YORK, July 12, 2023 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian) achieved a top score of 100 on the Disability Equality Index for 2023 and was recognized as a Best Places to Work for Disability Inclusion by Disability:IN and the American Association of People with Disabilities (AAPD). The Disability Equality Index (DEI) is a comprehensive benchmarking tool that […]

    NORTHWESTERN MUTUAL ANNOUNCES PROJECT TEAM FOR NORTH OFFICE BUILDING MODERNIZATION IN DOWNTOWN MILWAUKEE

    {July 18th, 2023} by Northwestern Mutual

    Company committed to providing employment, growth opportunities to residents and small businesses as the company invests over $500M in a new office tower MILWAUKEE, July 11, 2023 /PRNewswire/ — Northwestern Mutual today announced the project team for its $500M investment in the modernization of its North Office Building located at 818 East Mason Street in downtown Milwaukee. “We’ve assembled a team that strikes […]

    Annexus Retirement Solutions named finalist in Wealth Management’s “Wealthies” awards for industry-changing innovation

    {July 18th, 2023} by Annexus Retirement Solutions

    SCOTTSDALE, Ariz., July 12, 2023 /PRNewswire/ — Annexus Retirement Solutions (ARS) has been named a finalist in the Wealth Management Industry Award category: In-plan Retirement Income – Product or Service, for its lifetime income solution, Lifetime Income Builder, along with its proprietary middleware solution, the Annexus Retirement Data Exchange (ARDX). These innovations from ARS have introduced a new way […]

    INDEPENDENT LIFE RECOGNIZED FOR FAST ANNUITY PREMIUM GROWTH

    {July 18th, 2023} by Independent Insurance Group LLC

    JACKSONVILLE, Fla., June 21, 2023 /PRNewswire/ — Independent Life Insurance Company was recognized by Life Annuity Specialist – https://www.lifeannuityspecialist.com/, an online industry news service, for increasing its annuity premium by 248% to $78 million in the 2023 First Quarter. In Life Annuity Specialist’s June 15 article, “The 20 Fastest-Growing Smaller Annuity Issuers in the First Quarter,” the publication analyzed annuity issuers with direct premiums and […]

    The Standard Adds an Annuity for Clients Who Like Robots

    {July 18th, 2023} by Allison Bell

    The Standard has introduced a single-premium, non-variable indexed annuity aimed at clients who are interested in long-term economic trends and death. The Portland, Oregon-based company says its new Enhanced Choice Index Plus product offers access to Bank of America’s BofA Global MegaTrends Index. The index includes components related to robotics, the digital economy, millennials and […]

    Table Bay Financial Network: Manager of Marketing and Digital Assets

    {July 18th, 2023} by Table Bay Financial Network

    We are looking for a skilled individual to oversee the organization’s marketing ventures. This primarily involves developing and implementing marketing strategies and plans for our companies and our partners. The ideal candidate will be an experienced professional with a passion for the job, able to employ unique marketing techniques. They will be a talented marketing […]

    Global Atlantic Named Among Best CEOs for Women and Best Places to Work for People with Disabilities in 2023

    {July 18th, 2023} by Global Atlantic Financial Group

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading financial services company, today announced its inclusion in Comparably’s annual list of “Best CEOs for Women 2023” and Disability Equality Index’s “2023 Best Places to Work for People with Disabilities. We’re honored to receive these recognitions, which validate the value we place on diverse perspectives and […]

    Insurance Among Strategies Needed For Lifetime Retirement Income, AllianceBernstein Says

    {July 18th, 2023} by Edward Hayes

    While retirement income planning has been helped by reforms such as auto 401(k) enrollment, AllianceBernstein says in a new report that advisors and their clients need to use insurance and other strategies to ensure sustainable retirement income. While legislation such as the SECURE Act and SECURE 2.0 made it easier for plan participants to invest […]

    Avantax Considering Sale, Gauging Interest from Buyers: Report

    {July 18th, 2023} by Alex Padalka

    Wealth management software provider Avantax is mulling a possible sale, according to news reports. The Dallas-based firm has brought on a financial adviser to assist in gauging investor interest, people familiar with the matter who asked to not be identified tell Bloomberg. Click HERE to read the full story via Financial Advisor IQ

    New Annuity Quote Site Shows the Numbers

    {July 18th, 2023} by Allison Bell

    PlanEasy is trying to attract annuity prospects with a strategy based on transparency. The new Lincoln, Nebraska-based retirement services seller has come to life with a website that puts a Fixed Annuity Marketplace button in the top right corner of the homepage.  Click HERE to read the full story via ThinkAdvisor

    MassMutual Adds an Annuity Cushion for the Anxious

    {July 18th, 2023} by Allison Bell

    Massachusetts Mutual Life Insurance Company has expanded a variable annuity investment menu to provide comfort for the moderately nervous. The Springfield, Massachusetts-based company is adding the Cboe Vest U.S. Large Cap 10% Buffer Strategies VI Fund to the list of funds available through its MassMutual Envision Variable Annuity contract. Click HERE to read the full […]

    Lincoln Hopes Stephen Turer Will Make Its Retail Annuities Shine

    {July 18th, 2023} by Allison Bell

    Lincoln Financial has picked two executives to help it offer retail life insurance policies and retail annuities that will use less capital and make more money. The Radnor, Pennsylvania-based insurer promoted Stephen Turer to a newly created position, head of insurance solutions, and hired Thomas Diemer to be chief financial officer of its retail solutions […]

    An Annuity Could Help Your Client Live Longer

    {July 18th, 2023} by Allison Bell

    Some annuities come with living benefits that protect clients against outliving their income. EquiTrust’s Bridge annuity comes with a different kind of living benefit: It could make clients live longer. The Des Moines, Iowa-based company recently introduced a non-variable indexed annuity with a built-in long-term care rider and a built-in wellness program powered by Assured […]

    Allianz U.S. Unit Ordered to Pay $6B in Securities Fraud Case

    {July 18th, 2023} by Bob Van Moris

    ANew York judge ordered a unit of Allianz SE to pay about $6 billion as punishment for misrepresenting the investment risk posed by a group of hedge funds that collapsed amid market fluctuations caused by the Covid-19 pandemic. U.S. District Judge Colleen McMahon imposed the sentence Wednesday in Manhattan on Allianz Global Investors U.S., which had agreed […]

    More Prime-Age Clients Want Life Insurance

    {July 18th, 2023} by Allison Bell

    Shifts in pricing, underwriting or marketing strategies may be pulling more consumers ages 30 to 59 into the U.S. individual life insurance market. The number of applications submitted by people in the 30-59 age group increased by almost 9% between June 2022 and June 2023, and that helped lead to an overall activity increase of […]

    Global Atlantic Adds $2.4B in Life and Annuity Deal Cash

    {July 18th, 2023} by Allison Bell

    A subsidiary of KKR has raised $2.4 billion in reinsurance deal money from outside investors. Global Atlantic announced Monday that it plans to use the cash to provide reinsurance for life insurance and annuity issuers. Manu Sareen, co-president of Global Atlantic, said this is a great time to have a big new pool of reinsurance […]

    More Older Clients Should Be Selling Their Life Insurance Policies

    {July 18th, 2023} by Lisa Rehburg

    Starting several years ago, the Life Insurance Settlements Association began collecting data on the life insurance settlements market, which gives the policyholders a chance to sell in-force policies to investors. LISA members represent 95% of the market. They submit data regarding the number of transactions they completed in 2022, the average face amount of the […]

    [ThinkAdvisor Sponsored] Greasing the Wheels: How Broker-Dealers are Removing Friction in Life and Annuity Sales

    {July 18th, 2023} by Hexure

    Historically, life insurance and annuities were not every financial advisor’s favorite products to sell. They came with not-in-good-order (NIGO) challenges and workflow speedbumps. It was often easier to avoid selling them. Things are changing. Broker-dealers have long seen the value in advisors offering these products as part of a holistic financial plan. These products offer […]

    Why low interest rates of the past are fueling present-day uncertainty

    {July 18th, 2023} by The Thomasville TIme (NC)

    History shows that when the U.S. Federal Reserve makes it inexpensive to borrow money, investors are more likely to make poor financial decisions. While it can take years to manifest, the consequences of suppressing the cost of capital usually can result in financial or economic turbulence. After more than a decade of historically low interest rates, it’s my […]

    Americans believe they will need $1.27M to retire comfortably

    {July 18th, 2023} by Northwestern Mutual

    MILWAUKEE– Americans believe they will need $1.27 million to retire comfortably, according to the latest set of findings from Northwestern Mutual’s 2023 Planning & Progress Study. That number continues to increase, up from $1.25 million reported last year. Meanwhile, the average amount that U.S. adults have saved for retirement modestly increased by 3% to $89,300 from […]

    Kenneth Rossman, ‘Annuity King’ sidekick, avoids prison in fraud plea

    {July 18th, 2023} by John Hilton

    Kenneth Rossman, who participated in a $6.3 million financial fraud, avoided jail time for his role in helping to convict self-styled “Annuity King” Phillip Roy Wasserman. Judge Charlene Edwards Honeywell sentenced Rossman to five years probation Wednesday. In 2021, he pleaded guilty to one count of conspiracy to commit mail fraud and wire fraud, and […]

    Secure 3.0: What would a successor to SECURE look like?

    {July 18th, 2023} by Susan Rupe

    The SECURE Act was signed into law in December 2019. SECURE 2.0 became law three years after that. Could SECURE 3.0 be in the works? One financial industry trade association has urged the Biden administration to work with Congress to take up legislation that would further alleviate workers’ and retirees’ retirement anxiety. Click HERE to […]

    Industry conferences still dealing with sexism, discrimination concerns

    {July 18th, 2023} by John Hilton

    Another troubling industry conference incident is giving reformers a chance to promote ongoing efforts to eliminate sexism and discrimination from events. Sonya Dreizler, for one, is heartened that it took two months for Jesse Watters’s offensive comments – made at an April conference by Independent Insurance Agents and Brokers of America – to erupt publicly. Heartened because […]

    Advisor says SEC has no authority to regulate his insurance sales

    {July 18th, 2023} by John Hilton

    A Massachusetts advisor is leaning into the state regulation of insurance as a defense against fraud allegations lodged by the Securities and Exchange Commission (SEC). Jeffrey Cutter, who is also an insurance agent, filed a motion Friday to dismiss the SEC complaint. “The Investment Advisers Act of 1940 does not apply to an alleged scheme […]

    Principal debuts annuity with sustainability index

    {July 18th, 2023} by Business Record Staff

    Principal Financial Group has introduced its first registered index-linked annuity (RILA) called Principal Strategic Outcomes. The launch aims to meet the increasing demand for annuity options amid market uncertainty and the desire to mitigate investment risk among individuals nearing retirement. The total industry sales of RILAs reached a record $41.1 billion in 2022 due to […]

    SEC obtains judgement against Lindberg co-defendant in fraud case

    {July 18th, 2023} by John Hilton

     North Carolina judge approved a settlement with former insurance executive Christopher Herwig, who the Securities and Exchange Commission accused of teaming with financier Greg Lindberg to defraud investors of $75 million. Herwig agreed with the SEC’s findings and “shall pay disgorgement of ill-gotten gains and prejudgment interest thereon,” the order states. “The amounts of disgorgement […]

    WealthVest, in partnership with Prosperity Life Group, to deliver two new indices from Fidelity Investments

    {July 18th, 2023} by WealthVest

    BOZEMAN, Mont., July 7, 2023 /PRNewswire-PRWeb/ — WealthVest, a financial services marketing and wholesaling firm, in partnership with Prosperity Life Group, is please to introduce WealthSecure℠, a fixed indexed annuity offering multiple crediting strategies, including two exclusive indices from Fidelity Investments. “We are excited to work with Fidelity Investments and Prosperity Life Group to offer competitive principal-protected retirement […]

    Index providers, Take Note!

    {July 18th, 2023} by Sheryl J. Moore

    Shout out to my homies at Credit Suisse who not only have easy-to-navigate websites to research their indexed annuity indices but also disclose all relevant information. Index providers, take note!

    PlanEasy Launches Innovative Retirement Platform and Annuity Marketplace for Consumers

    {July 18th, 2023} by PlanEasy

    LINCOLN, Neb.–(BUSINESS WIRE)–PlanEasy, founded by financial services entrepreneurs and annuity industry veterans Michael Salem and Noh-Joon Choo, is excited to announce the official launch of its consumer retirement platform PlanEasy.com. PlanEasy is the industry’s first end-to-end online consumer platform designed specifically for everyday Americans seeking to understand and simplify all of their key retirement decisions. As […]

    Can bipolar disorder lead one to commit fraud?

    {July 18th, 2023} by Sheryl J. Moore

    Can bipolar disorder lead one to commit fraud? I think so. Click HERE to read ‘Annuity King’ partner claims bipolar disorder in presentence report:   Click HERE to join in the discussion on LinkedIn

    Life Insurance Companies Executive Compensation

    {July 18th, 2023} by Sheryl J. Moore

    Join in the discussion over on LinkedIn.

    American Equity moves $2B in second-quarter annuities as sale nears

    {July 18th, 2023} by John Hilton

    American Equity celebrated another milestone in its remarkable turnaround with $2 billion in second-quarter annuity sales. The Des Moines, Iowa insurer will release full second-quarter results Aug. 7. Of the $2 billion, 94% were fixed-indexed annuities, American Equity said in a news release. Total enterprise FIA sales increased 94% compared to the first quarter of […]

    “That’s a long surrender period”

    {July 18th, 2023} by Sheryl J. Moore

    One can no longer say that indexed annuities have surrender charges as long as 16 years. (It’s now 15 years.) Note, however, that there are multi-year guaranteed annuities (MYGAs) with surrender charges as long as 20 years.

    Fidelity Investments forms retail annuities and pension risk transfer focused reinsurer

    {July 18th, 2023} by Luke Galin

    US investment giant Fidelity Investments has formed Soteria Reinsurance Ltd., a newly incorporated Class C insurer registered in Bermuda that will focus on the US retail fixed annuities and pension risk transfer space. On June 20th, 2023, Soteria Re, which is owned directly by Soteria Reinsurance Holdings, LLC, a wholly owned subsidiary of Fidelity Management […]

    Senior Health & Life Benefits Takes Service and Support to Next Level by Partnering with Integrity

    {July 18th, 2023} by Integrity Marketing Group, LLC

    DALLAS, July 11, 2023 /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 partnered with Senior Health & Life Benefits, a leading independent marketing organization (“IMO”) located in Savannah, Georgia and led by Lawrence Bradley, Sr., […]

    New York Close to Fixing State’s Charitable Gift Annuity Glitch

    {July 11th, 2023} by Allison Bell

    New York state lawmakers have approved a bil that could help clients there make more use of charitable gift annuities. Members of the state Assembly recently voted 145-0 to pass 02683 and send it on to Gov. Kathy Hochul for her signature. The state Senate passed the bill by a 60-1 vote in May. The bill would […]

    Ransomware Gang Has 6M Life and Annuity Client Records

    {July 11th, 2023} by Allison Bell

    Companies that write and reinsure your clients’ life insurance policies and annuity contracts say the Clop Ransomware Gang has stolen personal records for at least 6 million people, and that many of the stolen records include Social Security numbers. The life and annuity issuers are caught up in a massive cyberattack that has affected hundreds […]

    SEC obtains judgement against Lindberg co-defendant in fraud case

    {July 11th, 2023} by John Hilton

    A North Carolina judge approved a settlement with former insurance executive Christopher Herwig, who the Securities and Exchange Commission accused of teaming with financier Greg Lindberg to defraud investors of $75 million. Herwig agreed with the SEC’s findings and “shall pay disgorgement of ill-gotten gains and prejudgment interest thereon,” the order states. “The amounts of […]

    Annuity King’ partner claims bipolar disorder in presentence report

    {July 11th, 2023} by John Hilton

    Kenneth Rossman, the accountant sidekick in a $6.3 million fraud led by self-styled “Annuity King” Philip Roy Wasserman, cited a bipolar disorder in arguing for a lighter sentence. In a presentencing report filed Wednesday in a Tampa, Fla. court, Rossman – represented by federal public defenders – added that he is the “sole caregiver” of […]

    Texas judge deals DOL another setback on rollover regulation

    {July 11th, 2023} by John Hilton

    A second federal court dealt a blow last week to the Department of Labor’s ongoing bid to extend fiduciary status to more rollover transactions. U.S. Magistrate Judge Rebecca Rutherford recommended against the DOL’s broad interpretation of the “five-part test” to determine what constitutes investment advice. Dating to 1975, the five-part test is utilized to determine […]

    AM Best Comments on Credit Ratings of American Equity Investment Life Insurance Company and Its Subsidiaries Following Acquisition Announcement

    {July 11th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of American Equity Investment Life Insurance Company and its subsidiaries, American Equity Investment Life Insurance Company of New York (Lake Success, NY) and Eagle Life Insurance Company, remain unchanged following the announcement that […]

    Pacific Life Unveils New Survivorship Variable Universal Life Product for Cost-Effective Legacy Planning

    {July 11th, 2023} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life today announced it has added a new competitively priced survivorship variable universal life insurance (VUL) product designed to help clients maximize their financial legacy. With $84 trillion projected to be passed down to heirs over the next 25 years,1 the death benefit protection-focused Pacific Legacy Survivorship VUL2 features competitive premium solves for […]

    Brighthouse Financial Announces Conference Call to Discuss Second Quarter 2023 Results

    {July 11th, 2023} by Brighthouse Financial, Inc

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) announced today that it plans to hold a conference call and audio webcast to discuss its financial results for the second quarter ended June 30, 2023, at 8:00 a.m. Eastern Time on Wednesday, August 9, 2023. The call will follow the issuance of the Brighthouse Financial […]

    Global Atlantic Raised Over $2.4 Billion of Third-Party Capital for its Second Reinsurance Co-Investment Vehicle

    {July 11th, 2023} by Global Atlantic

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”) has announced the final close of Ivy Co-Invest Vehicle II LLC (“Ivy II”), a reinsurance co-investment vehicle. With the final close, Ivy II brings its total capital to more than $2.4 billion, which it will deploy, on behalf of its investors, alongside the Global Atlantic balance sheet […]

    Northwestern Mutual Study Finds Americans Who Carry Personal Debt Owe an Average of $21,800 Exclusive of Mortgages

    {July 11th, 2023} by Northwestern Mutual

    Overall average is $8,000 lower than it was in 2019, but 35% of Americans say they’re carrying close to or at their highest level of debt ever while 43% say their debt is close to or at a historic low Credit cards account for more than double any other single source of personal debt People with personal […]

    John Hancock Announces 2023 MLK Scholars Program, Invests Another $1 Million in Summer Jobs, Financial Education for Boston Youth

    {July 11th, 2023} by John Hancock

    84 Percent of Students Report Feeling More Prepared to Manage Finances Following Program BOSTON, July 10, 2023 /PRNewswire/ – Today, John Hancock, a unit of Toronto-based Manulife (TSX: MFC), announces the start of its annual MLK Scholars Program, which provides summer jobs, financial education, and professional development opportunities to Boston youth. Since 2008, John Hancock has invested over $16 million to fund […]

    Advisors jumping onto Threads could create compliance headaches

    {July 11th, 2023} by Ryan W. Neal

    Financial advisors are jumping onto Threads, but the new social media app from Meta Platforms Inc. could create a new set of compliance headaches for the wealth management industry. Click HERE to read the full story via InvestmentNews

    Senior Market Sales® Acquires The ASA Group in Strategic Move to Grow National Life Insurance Presence

    {July 11th, 2023} by Senior Market Sales

    Partnership Also Marks SMS’ Entry Into the Life Settlement Market as Interest Grows OMAHA, Neb., July 6, 2023 /PRNewswire/ — Senior Market Sales® (SMS), one of the industry’s premier insurance marketing organizations (IMOs), has acquired The ASA Group, a Little Rock, Arkansas, brokerage general agency serving insurance and financial planning professionals across the country for more than four decades. “The […]

    InsurTech Market size to grow by USD 61,756.27 million from 2022 to 2027|Need to improve business efficiency to boost the market – Technavio

    {July 11th, 2023} by Technavio

    NEW YORK, July 10, 2023 /PRNewswire/ — The InsurTech market size is estimated to grow by USD 61,756.27 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 44.05% during the forecast period. Europe will contribute to 50% of the market growth. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) – Request a […]

    Bermuda company to acquire West Des Moines’ American Equity for $4.3 billion

    {July 11th, 2023} by Tyler Jett

    After resisting takeover attempts for several years, the board of West Des Moines-based American Equity Investment Life Holding Co. will cash in on an acquisition offer with a large premium. The fixed annuity provider disclosed in a news release Wednesday that Brookfield Reinsurance will purchase it in a deal valued at $4.3 billion. Brookfield will […]

    WealthVest, in partnership with Prosperity Life Group, to deliver two new indices from Fidelity Investments®

    {July 11th, 2023} by WealthVest

    Prosperity Life Group’s WealthSecureSM Fixed Indexed Annuities offer multiple crediting strategies linked to two exclusive indices from Fidelity Investments®. WealthVest, a financial services marketing and wholesaling firm, in partnership with Prosperity Life Group, is please to introduce WealthSecureSM, a fixed indexed annuity offering multiple crediting strategies, including two exclusive indices from Fidelity Investments®. “We are excited […]

    84% of Millennials Say There Are Financial Topics They Need Professional Advice On, According to intelliflo Survey

    {July 11th, 2023} by Intelliflo

    ATLANTA–(BUSINESS WIRE)–Younger generations struggle with accessing financial advice, often unsure how to get advice or feeling as if they don’t have enough saved to receive it. This is one of the topics explored in a recent intelliflo survey. intelliflo is the leading cloud-based technology platform for financial advisors and their clients. More than 2,000 U.S. adults were […]

    “Best Annuities For 2023”

    {July 11th, 2023} by Marcia Wendorf

    2022 saw an increase in the sale of annuities due to volatility in the equities markets and increasing interest rates. According to the Life Insurance Marketing and Research Association, (LIMRA), in 2022 total U.S. annuity sales hit $310.6 billion, a 23% increase over 2021 and 15% higher than the sales record set in 2008. According to […]

    Brookfield Reinsurance to Acquire AEL in $4.3 Billion Transaction

    {July 6th, 2023} by Brookfield Reinsurance

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Brookfield Reinsurance (NYSE, TSX: BNRE) and American Equity Investment Life Holding Company (NYSE: AEL) (“AEL”) today announced that they have entered into a definitive agreement whereby Brookfield Reinsurance will acquire all of the outstanding shares of common stock of AEL it does not already own in a cash and stock transaction […]

    American Equity Agrees to $4.3B Offer From Brookfield Re

    {July 6th, 2023} by Allison Bell

    The board of American Equity Investment Life has agreed to move forward on a $55-per-share acquisition offer from Brookfield Reinsurance, an affiliate of Brookfield Corp., a large Canadian asset manager, the companies announced Wednesday. American Equity helped create the modern U.S. indexed annuity market. Click HERE to read the full story via ThinkAdvisor   Moore on the […]

    Nassau Financial Group Completes Acquisition of Delaware Life Insurance Company of New York

    {July 6th, 2023} by Nassau

    HARTFORD, Conn.–(BUSINESS WIRE)–Nassau Financial Group, L.P. (“Nassau”) today announced that its subsidiary, Nassau Life Insurance Company (“NNY”), has completed the acquisition of Delaware Life Insurance Company of New York (“DLNY”) from Delaware Life Insurance Company (“Delaware Life”), a Group 1001 company. NNY and DLNY are New York-domiciled life insurance companies, and Nassau plans to merge […]

    New John Hancock Retirement CEO Sees Growing Demand for Retirement Advisors

    {July 6th, 2023} by John Manganaro

    The combined forces of higher market volatility, rapidly rising interest rates and greater global economic uncertainty are presenting major challenges for middle-class and mass-affluent investors focused on retirement planning. As Wayne Park, John Hancock Retirement’s newly appointed CEO, told ThinkAdvisor in a recent interview, survey data shows that investors are clearly feeling the strain, with […]

    Lincoln Financial Group enhances Retail Solutions leadership team to strengthen alignment, collaboration across Life and Annuity businesses

    {July 6th, 2023} by Lincoln Financial Group

    PHILADELPHIA–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced several enhancements to its Retail Solutions organization’s leadership team, further strengthening alignment between Lincoln’s Life and Annuity businesses. Stephen Turer has been promoted to Head of Insurance Solutions, overseeing Lincoln’s Life, MoneyGuard® and Annuity product lines. Thomas Diemer has been appointed Chief Financial Officer (CFO) of Retail Solutions. Both Turer […]

    Jackson to Report Second Quarter 2023 Financial Results

    {July 6th, 2023} by Jackson National Life Insurance Company

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) will announce financial results for the second quarter ended June 30, 2023, after market close Tuesday, August 8, 2023. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Wednesday, August 9, 2023, at 9 a.m. ET to review […]

    DBRS Morningstar Looks at What CLOs Could Do to Annuities

    {July 6th, 2023} by Allison Bell

    Credit rating analysts at DBRS Morningstar think that the collateralized loan obligations (CLOs) in life and annuity issuers’ investment portfolios will probably continue to do well, but they’re curious to see how CLOs will perform the next time borrowers run into trouble. Patrick Douville and other analysts at the firm talk about CLOs in a […]

    8 Reasons Not to Buy an Annuity

    {July 6th, 2023} by Roger Wohlner

    Annuities can be a good retirement planning vehicle for many of your clients. They offer a guaranteed stream of lifetime income as well as a number of other options that can enhance your client’s retirement finances. Like most financial strategies, an annuity may not be the right retirement planning solution for all clients or all client situations. Many annuities […]

    Rollovers, Transfers, 1035s: Don’t Assume You Already Know

    {July 6th, 2023} by Charlie Gipple

    A client of mine calls me up and says, “My CPA says (oh boy, here we go) that I should have gotten a 1099-R for my direct rollover that we did into my SEP IRA.” I said, “It wasn’t a rollover, it was a direct transfer which does not generate 1099-Rs.” He said, “You are […]

    Do Not Buy(Or Offer) An Indexed Universal Life Until You Read This

    {July 6th, 2023} by Brian Manderscheid

    In 2022 everything went perfectly wrong for investors. With inflation running at 40-year highs and the Fed raising interest rates at its fastest pace ever, the S&P 500 lost almost 20 percent, which was the worst performance since 2008 when it was down roughly 38 percent. Historically, bonds perform inversely to the stock market which […]

    Continued Evolution Of VUL

    {July 6th, 2023} by Charles Arnold

    Variable life sales have declined at the start of 2023 to the tune of about 15 percent off the previous year. This can be expected as equity markets have turned volatile and a gradual increase in interest rates has made other products more appealing. Whole life, term, and IUL have seen marked increases, and the […]

    Bringing life to the intangible sale

    {July 6th, 2023} by Sheryl Moore

    I have learned that the art of storytelling is essential in the life insurance business. My grandfather taught me this lesson when I was only nine years old, and yet it has continued to stand out starkly in my mind over the past twenty-four years. I had been playing hide-and-seek with my little brother when […]

    Aspire Magazine

    {July 6th, 2023} by Aspire Magazine

    The latest issue of Aspire magazine is LIVE! This month, we’re focused on the art of “Storyselling” – helping advisors like you demonstrate the all-important “Why” behind your product portfolio. https://lnkd.in/eWhWwjkh In this edition, Aspire covers business strategies, life insurance, long-term care, insurtech, cross-selling, and compliance, with 20 articles to keep your mind and business sharp […]

    M&A, Everybody’s doin’ it.

    {July 6th, 2023} by Sheryl J. Moore

    M&A. Everybody’s doin’ it.  Click HERE to read Nassau Financial Acquires Delaware Life of New York The thing that confused me on this deal was that Allison Bell at ThinkAdvisor indicated: “Nassau could use its newly acquired New York state subsidiary to add a life or annuity product line or to make a product now sold only outside of […]

    On a personal note: Pride and Plasma

    {July 6th, 2023} by Sheryl J. Moore

    In the wake of my son’s suicide, I was able to work with my Congressman to get the law changed, so that gay men could donate blood. While we were successful in getting this policy reformed in 2014, the new legislation was still restrictive. I continue to work hard to change the laws so that […]

    Don’t overlook the LGBTQ+ population

    {July 6th, 2023} by Michael Rusk

    The LGBTQ+ community has been the subject of recent legislation and executive orders that shed light on this population segment’s financial planning and insurance challenges. Understanding the specific requirements of this demographic is crucial for building a successful practice in the coming years within this growing market. According to studies, approximately 7.2% of the population […]

    The companies of National Life Group launch series of fixed indexed annuities with exclusive new feature

    {July 6th, 2023} by National Life Group

    Montpelier, Vermont – The companies of National Life Group are the first in the industry to liberate clients from only one interest crediting day in the year with its new single premium deferred indexed annuities, available June 24. Exclusive to National Life is the new innovative, indexed annuity feature, the Dollar Cost Averaging option, which spreads […]

    Retiring without millions in the bank? It can be done easily.

    {July 5th, 2023} by Brett Arends

    The other day I saw an online debate about how much you “need” to retire these days. Those in the debate — including several financial planners — were engaged in what I could only guess was a bidding war. Was $2 million enough? No? How about $3 million? Or $4 million? No? Click HERE to […]

    A Matter of Trust — With Jamie Hopkins

    {July 5th, 2023} by Paul Feldman

    Building trust and transparency are two keys to building success, said Jamie Hopkins, managing partner of Wealth Solutions at Carson Group, a national wealth management firm. A nationally recognized writer, researcher and educator, Hopkins is a regular contributor for Forbes, InvestmentNews and MarketWatch and he has been published in dozens of financial, educational and legal […]

    Custom Indices Fuel Fixed Indexed Annuity Popularity

    {July 5th, 2023} by Adam Politzer

    Innovations in this transparent, rules-based element have increased the demand for fixed indexed annuities. Find out why they make such a difference and how they work. Click HERE to read the full story via InvestmentNews, content sponsored by Athene

    How to Navigate Producer Licensing Complications to Sell Annuities

    {July 5th, 2023} by Holly Monroe

    At the height of the pandemic, heightened fears and a greater awareness of mortality drove consumers away from annuities and increased demand for life insurance products. Now, as the world enters another year of “post” pandemic life, we’ve seen those fears edged out and replaced with a renewed interest in investing for guaranteed income after […]

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