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Archive for October 2023

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  • Relationships matter. Don’t burn bridges.

    {October 31st, 2023} by Sheryl J. Moore

    The very first week that I began working in the life insurance industry, my trainer gave me the best piece of advice, ever. Keep in mind that I live in Des Moines, Iowa- the life insurance capital of the United States. (Not to mention that our population is only a couple hundred thousand strong…I mean, […]

    Chat with us!

    {October 31st, 2023} by Wink Support

    Need support in a flash, and don’t have time to email or call? Find Wink support online through our chat function. Check it out the next time you need our help! You can get started in the bottom right-hand corner of the site.

    Why the 2050 Annuity Market Looks Beautiful

    {October 31st, 2023} by Allison Bell

    This is the first in a new series of columns about annuities and retirement planning. The rain keeps coming, the international news headlines look grim, and life and annuity market trackers say we’ll get through this. Holding fast to a bright vision of the future is important, because optimism is as critical to retirement planning […]

    Life Insurers Search for Ways to Better Protect the World

    {October 31st, 2023} by Allison Bell

    LIMRA was once the Life Insurance Marketing and Research Association, and speakers at its latest annual conference want to find ways to heal the world with life insurance, marketing and research. LIMRA started the three-day event Sunday in National Harbor, Maryland. The speakers on the podium talked about the conflicts facing the United States and […]

    IRS Ruling Could Help Fee-Only Advisors Use Life Insurance

    {October 31st, 2023} by Allison Bell

    The Internal Revenue Service has issued two new private letter rulings that could help life insurers create a new generation of life insurance policies aimed at fee-based and fee-only advisors. The IRS sent the letters to Protective Life. The letters would affect a variable universal life insurance policy that’s registered with the Securities and Exchange […]

    New DOL Fiduciary Rule to Be Released Tuesday: Report

    {October 31st, 2023} by Melanie Waddell

    The Labor Department’s new fiduciary rule is expected to be released for public comment Tuesday at 3:30 p.m. at an event at the White House. President Joe Biden will attend the event, according to the National Association of Plan Advisors. Labor changed the name of its upcoming new fiduciary rule to the Retirement Security rule […]

    DOL’s Gomez Explains New Fiduciary Rule

    {October 31st, 2023} by Melanie Waddell

    Lisa Gomez, assistant secretary of Labor for the Employee Benefits Security Administration, said Tuesday that Labor changed the name of its upcoming new fiduciary rule to the Retirement Security rule to reflect a move forward from the 2016 Conflict of Interest rule. “It’s the retirement security rule with respect to the definition of an investment […]

    Help Plan-Sponsor Clients Meet the Demand for Annuities

    {October 31st, 2023} by Michael Kazanjian

    Concern among retirement savers about the future of Social Security is certainly not new. This continued perception that the system might run out of money is leading to interest in other sources of retirement income. A majority of Americans who are participating in an employer-sponsored retirement plan now say they would take advantage of “income […]

    Fidelity National Financial Announces Third Quarter 2023 Earnings Release and Conference Call

    {October 31st, 2023} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., Oct. 24, 2023 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“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 its majority owned subsidiary F&G Annuities & Life, Inc. (NYSE: FG), will […]

    F&G Annuities & Life Announces Third Quarter 2023 Earnings Release and Conference Call

    {October 31st, 2023} by F&G Annuities & Life, Inc.

    DES MOINES, Iowa, Oct. 24, 2023 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (“F&G”), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, will release third quarter 2023 earnings after the close of regular market trading on Tuesday, November 7, 2023. A webcast and conference call to discuss the results will […]

    Gainbridge Launches “Parity Week by Gainbridge” to Celebrate Women’s Sports Icons

    {October 31st, 2023} by Group 1001

    Pioneers Billie Jean King, Annika Sorenstam and Lyn St. James to be honored in Gainbridge’s first-ever Parity Week, where 180 women will compete for nearly $13 million ZIONSVILLE, Ind., Oct. 26, 2023 /PRNewswire/ — Gainbridge®, a Group 1001 company, announced today the launch of “Parity Week by Gainbridge,” a celebration of three pioneers in women’s sports centered around three flagship events the week […]

    Could RILAs, Pension Risk Transfers Squeeze Life Insurers in a Crisis?

    {October 31st, 2023} by Allison Bell

    State insurance regulators are thinking about whether some types of annuity separate accounts could affect life insurers’ need for quick cash in an economic crisis. The Macroprudential Working Group, part of the National Association of Insurance Commissioners, mentions separate accounts associated with registered index-linked annuities and pension risk transfers in a new draft of the […]

    Record demand for RILAs pushes Q3 annuity sales to new heights

    {October 31st, 2023} by Gregg Greenberg

    Led by record demand for registered index-linked annuities, total third-quarter annuity sales rose 11% year over year to $89.4 billion, according to preliminary results from Limra’s U.S. Individual Annuity Sales Survey. Click HERE to read the full story via Investment News

    ‘Annuity King’ pleads guilty to tax charge, confronts co-defendant in court

    {October 31st, 2023} by John Hilton

    Phillip Roy Wasserman pleaded guilty to a tax charge Monday and will avoid a second trial in his $6.3 million fraud case. Wasserman agreed to plead guilty to a single count of evasion of payment of income taxes and will be sentenced at a later date. According to Wasserman, the government made the plea offer […]

    Kansas City Life Announces Third Quarter 2023 Results

    {October 31st, 2023} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., Oct. 27, 2023 /PRNewswire/ — Kansas City Life Insurance Company recorded net income of $4.6 million or $0.47 per share in the third quarter of 2023 compared to net income of $4.3 million or $0.45 per share in the third quarter of 2022. Net income totaled $5.8 million or $0.60 per share in the first nine months of 2023, up from $1.1 million or $0.12 per share in the first […]

    How IUL supplements a financial plan

    {October 31st, 2023} by Susan Rupe

    Indexed universal life insurance makes sense for a client if it helps people accomplish their financial goals, not if it replaces their financial goals. That was the word from Ron Lee, vice president, advanced markets and brokerage field relations at Mutual of Omaha. Lee discussed how permanent life insurance can fit into everyone’s financial plan […]

    DOL to Unveil Fiduciary Rule Tuesday, Open Comment Period: Reports

    {October 31st, 2023} by Alex Padalka

    The Department of Labor is expected to release its controversial new fiduciary rule for public comment on Tuesday, according to news reports. The DOL submitted the new rule for review by the Office of Management and Budget in early September, and that review process typically lasts several weeks, though it’s limited to 90 days. Click HERE to read the full […]

    NISA Unveils Key Insights for Fiduciaries in Partial Annuity Buyout Transactions

    {October 31st, 2023} by NISA

    Partial annuity buyout transactions inherently pit two groups of participants against one another: (1) those in the transaction and (2) those remaining within the plan.  NISA uses standard bond math to assist fiduciaries in quantifying the economic cost to each group. Results underscore the importance of fiduciaries considering the “safest available” provider, as measured by NISA’s […]

    OPTIFINO, REDEFINES LIFE INSURANCE BY BRIDGING TECHNOLOGY WITH EXPERTS THAT HAVE A COLLECTIVE 100+ YEARS IN THE LIFE INSURANCE INDUSTRY.

    {October 31st, 2023} by Optifino

    TODAY, OPTIFINO ANNOUNCES ITS REMARKABLE ADVISORY BOARD. NEW YORK, Oct. 30, 2023 /PRNewswire/ — Optifino, redefines the life insurance industry by bridging technology and industry experts with a collective 100+ years in designing, underwriting, onboarding, and active management of the insurance portfolio. Today, Optifino proudly introduces its distinguished advisory board, composed of industry thought leaders and practitioners. Optifino is […]

    Ameriprise Financial Reports Third Quarter 2023 Results

    {October 31st, 2023} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share   Return on Equity, ex AOCI (1)   Q3 2023     Q3 2023 GAAP $8.14   GAAP 44.4% Adjusted Operating $6.96   Adjusted Operating 48.4% Adjusted Operating ex Unlocking (2) $7.68   Adjusted Operating ex Unlocking (2) 49.6%           Third quarter adjusted operating […]

    Could RILAs, Pension Risk Transfers Squeeze Life Insurers in a Crisis?

    {October 31st, 2023} by Allison Bell

    State insurance regulators are thinking about whether some types of annuity separate accounts could affect life insurers’ need for quick cash in an economic crisis. The Macroprudential Working Group, part of the National Association of Insurance Commissioners, mentions separate accounts associated with registered index-linked annuities and pension risk transfers in a new draft of the […]

    ‘Gates have opened’ for in-plan annuities, LIMRA Research Director says

    {October 31st, 2023} by John Hilton

    Legislative changes, product development and an enthusiastic industry are opening the gates to annuity products inside retirement plans. Still, analysts are cautiously optimistic about the next steps. Challenges remain, said Alison Salka, senior vice president, director of research, for LIMRA and LOMA. Click HERE to read the full story via INN

    Brian Steiner named executive director of Life Happens

    {October 31st, 2023} by Life Happens

    The National Association of Insurance and Financial Advisors  announced that Brian Steiner has rejoined NAIFA as the Executive Director of Life Happens, the consumer arm of the association. Steiner previously served as NAIFA’s Vice President of Business Development and Strategic Partnerships from 2015-2021 and most recently as President of United Wealth Advisors Group. Life Happens focuses on consumer […]

    MassMutual Announces New Fixed Deferred Annuity: MassMutual Premier Voyage

    {October 24th, 2023} by Massachusetts Mutual Life Insurance Company

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (MassMutual) today announced the introduction of a new fixed deferred annuity to its retirement savings and income offerings, MassMutual Premier VoyageSM, joining MassMutual Stable Voyage on its fixed annuity shelf. Fixed deferred annuities provide a fixed rate of interest, tax deferral, a death benefit, and the potential to turn […]

    Life insurance application activity in sharp decline among 50+ ages

    {October 24th, 2023} by John Hilton

    The latest life insurance application data shows a sharp decline among a demographic that should be a reliable source of sales: Americans ages 50+. Overall, life insurance application activity finished the third quarter up 2.8% compared to the year-ago period, reported MIB Group, a membership-supported nonprofit organization. MIB data shows life insurance sales are full of […]

    Security Benefit petition for judicial review of index annuity lawsuit denied

    {October 24th, 2023} by John Hilton

    A federal appeals court last week denied Security Benefit’s request for a full court review of a lawsuit claiming the insurer misrepresented how much investors stood to gain on certain fixed annuities The Court of Appeals for the Tenth Circuit rejected Security Benefit’s request for an en banc review. An en banc review is heard […]

    Calif. annuity legislation must pass by 2025 to avoid ‘dual regulation’

    {October 24th, 2023} by Rayne Morgan

    California Senate Bill 263, which would make California the 41st state to adopt best-interest annuity sales rules, has stalled amid pushback from consumer groups. It is currently in the suspense file with the Assembly Appropriations Committee, and five consumer associations want it to stay that way unless revisions are made. Those groups are concerned that […]

    PHL Variable Sues Its Insurers for Help With Defense Costs

    {October 24th, 2023} by Allison Bell

    A life insurer is suing its own insurers over coverage for lawsuit defense costs. PHL Variable Insurance, a subsidiary of Nassau Financial Group, filed the complaint in a state court in California earlier this week. PHL contends that XL Specialty Insurance, its primary insurer, or its providers of excess insurance coverage should cover the expenses […]

    Could RILAs, Risk Transfers Squeeze Life Insurers in a Crisis?

    {October 24th, 2023} by Allison Bell

    State insurance regulators are starting to think about whether some types of annuity separate accounts could affect life insurers’ need for quick cash in an economic crisis. The Macroprudential Working Group, an arm of the National Association of Insurance Commissioners, mentions separate accounts associated with registered index-linked annuities and pension risk transfers in a new […]

    New York Life Faces Suit Over Record Requests

    {October 24th, 2023} by Allison Bell

    New York Life is facing a suit that involves questions about the kinds of documentation an insurer can ask policy beneficiaries to provide. Fredric Paul Gallin, the representative for the estates of Herbert and Lucille Gallin, filed the suit in a state court in Somerset County, New Jersey, earlier this month. Click HERE to read the full […]

    White House Meetings Mark Final Step Before New DOL Fiduciary Rule

    {October 24th, 2023} by Patrick Donachie

      Industry and investor protection advocates alike are meeting with the White House Office of Management and Budget about the Labor Department’s latest iteration of its fiduciary rule, one of the final steps before it can be finalized and released for public comments. Since the rule was delivered to the OMB in early September, organizations from the Securities […]

    DPL survey: advisors can grow revenue, improve client plans with annuities

    {October 24th, 2023} by John Hilton

    Schneider Small Cap Value Fund is one of the worst-performing mutual funds of the past 25 years, Morningstar said recently, returning -18.9% after losing its bet on distressed energy company Chesapeake. Still, no advisor would warn clients off of mutual funds just because Schneider struggled. While not mentioning any specific mutual fund, panelists made the general analogy […]

    NAFA Urges OMB to Reject New DOL Fiduciary Rule

    {October 24th, 2023} by NAFA

    NAFA ALERT NAFA Urges OMB to Reject New DOL Fiduciary Rule NAFA met with staff from the White House Office of Management and Budget (OMB) and the U.S. Department of Labor (DOL) on Friday, October 20, 2023 to express our deep reservations regarding the DOL’s proposed new “Conflicts of Interest in Investment Advice” rule that […]

    Lost in Transition: Many Unsure About Managing Retirement Income

    {October 24th, 2023} by Western & Southern Financial Group

    CINCINNATI, Oct. 17, 2023 /PRNewswire/ — Many current and future retirees doubt their ability to manage their investments throughout retirement. That’s the finding of a new survey report on retirement income attitudes conducted by Western & Southern Financial Group (Western & Southern) in collaboration with LIMRA, a worldwide research, consulting and professional development organization serving the financial services industry.   […]

    Fixed Index Annuities Gain Popularity: Offering Principal Protection and Growth Potential Amid Rising Inflation Concerns

    {October 24th, 2023} by Research and Markets

    DUBLIN, Oct. 19, 2023 /PRNewswire/ — The “The US Annuity Market (by Type, Distribution Channel, Contract Type, Investment Category, Asset Under Management, & Annuity Premium): Insights and Forecast with Potential Impact of COVID-19 (2022-2026)” report has been added to  ResearchAndMarkets.com’s offering. The US annuity market is poised for substantial growth, with an anticipated value of $259.97 billion by 2023, reflecting a robust Compound […]

    Simplicity Enters into an Agreement to Acquire Aptus Marketing

    {October 24th, 2023} by Simplicity Group

    SUMMIT, N.J., Oct. 23, 2023 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”) today announced it has entered into an agreement to acquire Aptus Marketing (“Aptus”), an Ohio-based agency focused on annuity and life insurance sales. Jeff Hutchison, a well-known rising market leader, will continue to lead the office and will become Simplicity’s newest Partner following the transaction. “Jeff is […]

    American Equity Announces Record Total Enterprise Sales1 of $2.2 Billion in Third Quarter and Expected Date of Third Quarter 2023 Earnings Results

    {October 24th, 2023} by American Equity

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) (“AEL”) today announced that its third-quarter 2023 sales totaled $2.2 billion, substantially all of which were in fixed index annuities. AEL also announced that it will release its third quarter 2023 earnings results after the market closes on Tuesday, November 7, 2023. The […]

    AM Best Affirms Credit Ratings of Constellation Insurance, Inc. and Its AuguStar Life Group Subsidiaries

    {October 24th, 2023} 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 AuguStar Life Insurance Company (ALIC) and its wholly owned subsidiary, AuguStar Life Assurance Corporation (together referred to as AuguStar Life Group). These companies are the principal insurance subsidiaries of Constellation […]

    Life insurance industry unprepared for $7.8 trillion wealth transfer to beneficiaries by 2040

    {October 24th, 2023} by Capgemini Research Institute

    PARIS–(BUSINESS WIRE)–The Capgemini Research Institute’s World Life Insurance Report 2023, published today, highlights an unprecedented shift for life insurers as they face a significant outflow of assets under management (AUM), ahead of history’s largest inter-generational wealth transfer1. Currently, policyholders over the age of 65 own 40% of insurers’ AUM, which for the 40 largest global life […]

    7 Ways RIAs Say Annuities Have Boosted Their Business

    {October 24th, 2023} by John Manganaro

    Anew survey published by DPL Financial Partners may give registered investment advisors who normally shun annuities a reason to pause and reconsider. According to the results, which were shared this week during a webcast hosted by David Lau, founder and CEO of DPL Financial Partners, and David Blanchett, managing director and head of retirement research […]

    Digital transformation boosts satisfaction with life insurance and annuities

    {October 24th, 2023} by Steve Randall

    Customer apathy toward life insurance and annuities is a decades-old challenge, but technology is helping the industry change perceptions. Click HERE to read the full story via InvestmentNews

    Exclusive: Brookfield weighs move into UK pension insurance market -sources

    {October 24th, 2023} by Pablo Mayo Cerqueiro, Amy-Jo Crowley and Iain Withers

    Oct 17 (Reuters) – Brookfield (BN.TO), through its affiliate Brookfield Reinsurance (BNRE.N), is weighing entering Britain’s burgeoning pension insurance industry and is open to an acquisition to bolster growth, three people familiar with the matter told Reuters. Click HERE to read the full story via Reuters   Wink’s Moore on the Market: The company that acquired American National, […]

    Fed Sees Drop in Cash-Value Life Ownership

    {October 24th, 2023} by Allison Bell

    The Federal Reserve Board sees the percentage of U.S. households with cash-value life insurance dropping. The share of households with that asset fell to 16.1% in 2022, from 19% in 2019. it was 35.5% in 1989, according to the Fed’s latest Survey of Consumer Finances report. Click HERE to read the full story via Think […]

    Mentorship Culture

    {October 24th, 2023} by Sheryl J. Moore

    I have had numerous mentors during my tenure in the insurance industry. Hear about how I approach mentorship, with a podcast I did with my dear friend Mark Williams of Brokers International. SN: Did you know that I was once married to a police officer who went to prison? Yep- that happened. Tune in to find out more! […]

    PacLife Launches Variable Annuities Platform with SS&C

    {October 24th, 2023} by Aaron Smith

    Sales for variable annuities totaled $12.784 billion industrywide in the second quarter of 2023, according to Wink’s Sales & Market Report. That was a gain of 5% from the prior quarter, but a plunge of 20% from the year-ago quarter, when sales were $15.94 billion. Click HERE to read the full story via Life Annuity Specialist. […]

    Is a life insurance policy like the family minivan?

    {October 24th, 2023} by William Scott Page

    Life insurance, like other commodities we own, has a “useful life.” In the same way we question how long to keep a car or when to upgrade an appliance, and we ponder the utility and lifespan of life insurance policies. For agents and financial advisors, understanding and educating their clients on this concept is pivotal. […]

    Profitable growth is top of mind for life insurance execs

    {October 24th, 2023} by Press Release

    WINDSOR, Conn., and BOSTON, Mass., Oct. 23, 2023 – A new study reveals profitable growth is the most important challenge on the minds of C-suite executives in the life insurance industry, followed closely by talent management. When the same study was conducted in 2019, change management was what kept executives up at night. By 2021, as […]

    While we’re on the topic of private equity-owned insurance companies…

    {October 17th, 2023} by Sheryl J. Moore

    Wow. Award-winning journalism from John Hilton at InsuranceNewsNet? Click HERE to read Critics call out Brookfield Asset Management asset transfers to insurer via INN.  Could be. While we’re on the topic of private equity-owned insurance companies… The president of Brookfield Asset Management indicated that there are, “plans to target allocating ‘40% of our insurance assets into private funds. Today, that […]

    Critics call out Brookfield Asset Management asset transfers to insurer

    {October 17th, 2023} by John Hilton

    Financial reporting documents by Brookfield Asset Management Reinsurance (Brookfield Re) and an insurer it acquired last year are raising renewed questions about private equity control of policyholder funds. Forms filed by Brookfield Re and American National Insurance Co. show a transfer of  assets owned by the former company, mainly commercial real estate. A new report […]

    West Des Moines’ American Equity demotes executive after trading violation

    {October 17th, 2023} by Tyler Jett

    Leaders at West Des Moines-based American Equity Life Investment Holding Co. have demoted an executive after he allegedly failed to disclose purchases of company stock within the legally required timeline. The annuity provider announced in a U.S. Securities and Exchange Commission filing late last week that Jimmy Dewayne Lummus lost his job as chief accounting […]

    Billboard Near Insurance Regulator Warns Against Brookfield’s Potential Takeover of American Equity Life Insurance, Citing UNITE HERE Report

    {October 17th, 2023} by UNITE HERE

    DES MOINES, Iowa–(BUSINESS WIRE)–UNITE HERE launched a billboard today warning customers of American Equity Investment Life Insurance Company (NYSE:AEL), that it may be purchased by the Bermuda-based affiliate of Brookfield (NYSE:BN). Brookfield has defaulted on over $1 billion in commercial real estate this year alone. The billboard is located less than a mile from the Iowa Insurance […]

    USAA Life Insurance Company Introduces Fixed Indexed Annuity

    {October 17th, 2023} by USAA Life Insurance Company

        SAN ANTONIO, Oct. 16, 2023 /PRNewswire/ — USAA Life Insurance Company announced today the addition of a fixed indexed annuity to its suite of retirement products. The new product is available in nearly all states, and offers those planning for, or living in, retirement another option for protected savings growth. According to USAA’s 2023 Life […]

    10 Best Life Insurance Companies: Expert-Rated In 2023

    {October 17th, 2023} by Amy Danise, Ashlee Tilford

    The days of summer are gone and it’s officially fall. As you get wrapped up in apple cider and a cozy blanket, it’s the perfect time to devote some attention to your financial plan. If you don’t already have life insurance, now is a good time to secure a policy so you can support your […]

    AM Best Comments on the Credit Ratings of Prosperity Life Group’s Subsidiaries Following Merger Announcement

    {October 17th, 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 Prosperity Life Group’s subsidiaries, Shenandoah Life Insurance Company (Roanoke, VA), SBLI USA Life Insurance, Inc. (New York, NY) , Prosperity Life Assurance Limited (PLAL) (Bermuda) and S.USA Life Insurance Company, Inc. (Phoenix, […]

    AM Best Places Credit Ratings Under Review With Various Implications for National Western Life Group, Inc. and Its Subsidiaries

    {October 17th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with negative implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) of National Western Life Insurance Company (NWLIC) (Centennial, CO). Concurrently, AM Best has placed under review with developing implications the FSR of A- (Excellent) and the […]

    Best & Worst Annuity and Life Insurance Providers: J.D. Power, 2023

    {October 17th, 2023} by Michael S. Fischer

    Customer apathy toward annuities and life insurance is a perennial challenge for providers. Satisfaction is rising as more clients engage with digital tools and start using life insurance and annuities for financial planning, in addition to such final planning services as death benefits and burial insurance, according to a study released Thursday by J.D. Power. […]

    Northwestern Mutual Study Reveals Women Feel Financially Less Secure and Confident for Retirement than Men

    {October 17th, 2023} by Northwestern Mutual

    MILWAUKEE, Oct. 11, 2023 /PRNewswire/ — Fewer women in America feel financially secure or confident in their retirement readiness than men, according to the latest findings from Northwestern Mutual’s 2023 Planning & Progress Study. Just four in ten (43%) American women feel financially secure and 44% think they will be financially prepared for retirement. This compares to 59% of men […]

    Allianz Partners announces strategic partnership with bolttech

    {October 17th, 2023} by Allianz Partners

    SINGAPORE, Oct. 11, 2023 /PRNewswire/ — Allianz Partners, a world leader in B2B2C insurance and assistance services, and bolttech, an international insurtech, today announced a partnership to provide embedded device and appliance protection insurance across Asia Pacific and the United States. The strategic cooperation agreement[1] aims to bring together each company’s complementary strengths to offer best-in-class solutions enabling business partners to add insurance and protection […]

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

    {October 17th, 2023} by The Pacific Life Foundation

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

    Satisfaction with Life Insurance and Annuity Products Climbs as Customers Embrace Digital, J.D. Power Finds

    {October 17th, 2023} by J. D. Power

    TROY, Mich.–(BUSINESS WIRE)–Could the latest generation of mobile apps and websites hold the keys to solving the decades-old challenge of customer apathy toward life insurance and annuities? According to the J.D. Power 2023 U.S. Individual Life Insurance StudySM and the J.D. Power 2023 U.S. Individual Annuity Study,SM both released today, customer satisfaction is climbing as more customers […]

    Venerable Announces Partnerships With Russell Investments and Franklin Templeton

    {October 17th, 2023} by Venerable

    WEST CHESTER, Pa.–(BUSINESS WIRE)–Venerable Holdings, Inc. (“Venerable”) today announced that Venerable Investment Advisers, LLC (“Venerable Advisers”), its new wholly-owned subsidiary, intends to engage investment advisory subsidiaries of Russell Investments and Franklin Resources, Inc. (“Franklin Templeton”) to provide sub-advisory services with respect to Venerable Variable Insurance Trust (“VVIT”). As previously announced, the mutual funds will serve […]

    Russell Investments Announces Partnership With Venerable to Build New Multi-Manager Variable Annuity Platform

    {October 17th, 2023} by Russell Investments

    SEATTLE–(BUSINESS WIRE)–Russell Investments is leveraging its multi-manager investment, risk and implementation platform in a new strategic partnership with Venerable Holdings, Inc. (“Venerable”). Venerable today announced that Venerable Investment Advisers, LLC (“Venerable Advisers”), its new wholly-owned subsidiary, intends to engage Russell Investments to provide sub-advisory and administration services to funds in its newly formed Venerable Variable […]

    F&G Annuities & Life Ranked #1 for Highest Customer Satisfaction Among Annuity Providers in the U.S. by J.D. Power

    {October 17th, 2023} by F&G Annuities & Life, Inc.

    DES MOINES, Iowa, Oct. 12, 2023 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (“F&G” or “Company”), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, is proud to announce the Company has been ranked the highest annuity provider for Customer Satisfaction in the J.D. Power 2023 U.S. Individual Annuity Study.  F&G […]

    Atlanta Life Insurance Reemerges with New Leadership and a New Vision that Stays True to the Herndon Legacy

    {October 17th, 2023} by Atlanta Life Insurance Company

    Earvin “Magic” Johnson’s EquiTrust partners to support the company’s mission to create legacies and build wealth in Black communities ATLANTA, Oct. 13, 2023 /PRNewswire/ — Atlanta Life Insurance Company, the lone remaining Black-founded and owned insurance company, is reemerging under new leadership with a fresh vision that pays homage to the brand’s rich history and legacy. For more than […]

    Integrity Strengthens Life Insurance Leadership by Naming Victor Sanchez Vice President of Integrity Life

    {October 17th, 2023} by Integrity Marketing Group, LLC

    DALLAS, Oct. 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 that it is continuing to expand its life insurance division with the addition of Victor Sanchez as Vice President of Integrity Life. Sanchez, a high-performing leader with extensive life […]

    LIBRA Successfully Launches Innovative Technology from iPipeline® to Aggregate, Accelerate, and Ensure Compliance of Data

    {October 17th, 2023} by iPipeline

    EXTON, Pa. and BALTIMORE, Oct. 11, 2023 /PRNewswire/ — iPipeline® announces that LIBRA Insurance Partners, the largest independently owned life insurance marketing organization (IMO) in the United States, successfully implemented its Agency Integrator product recently to support the LIBRA Institutional Insurance Platform (LIIP). With LIBRA’s use of Agency Integrator, critical data from members participating in the LIIP program is aggregated into one single source. […]

    Long-term mortality trends: Challenges for life insurers

    {October 17th, 2023} by John Bowers

    A steady decline in mortality rates since the 19th century has brought about a long-term rise in life expectancy for both men and women, but progress is uneven and, as recent history tells us, uncertain. The forecasts that underpin the life segment’s mortality and longevity lines of business combine both historic trends analysis with a […]

    Fed Sets Annuity-Friendly Capital Rules for Insurers It Regulates

    {October 17th, 2023} by Allison Bell

    The Federal Reserve Board has given U.S. annuity issuers a boost by deciding to draw its insurance capital standards from U.S. regulators, rather than applying standards from overseas. The board agreed last week to apply U.S.-style capital standards to federally insured banks that are “significantly engaged in insurance activities.” The board has posted a draft […]

    Transamerica Sued Over Marijuana-Linked Claim Denial

    {October 17th, 2023} by Allison Bell

    A new Illinois state court case raises questions about whether leaving information about occasional marijuana use off a life insurance application is a serious enough omission to invalidate coverage. Ashley Merced, the beneficiary of a $250,000 policy insuring the life of her mother, Yvette Nieves, sued Transamerica Life Insurance Co. over the death benefits. Transamerica […]

    U.S. Q3 Mortality Stays High

    {October 17th, 2023} by Allison Bell

    The total number of U.S. deaths recorded in September, and in the third quarter of the year, might have been much higher than the totals recorded before the COVID-19 pandemic showed up, early figures suggest. The total number of deaths recorded in preliminary figures for the four-week period ending Sept. 23 was 13% higher than […]

    SEC rule on data analytics praised by consumer groups, ripped by industry

    {October 17th, 2023} by John Hilton

    A Securities and Exchange Commission rule attempting to address conflicts of interest created by the use of predictive data analytics could stifle access to much-needed retirement products. That’s the response from financial services’ groups. It could also mean important protection from the wide-ranging power of big-data technology – so consumer advocates say. Click HERE to […]

    Allianz Life Faces Annuity Owner Suit

    {October 17th, 2023} by Allison Bell

    A new California state court case concerns the obligations a life insurer has to annuity holders and other customers when an advisor is convicted of wrongdoing. Layne Kramer and the Kramer Family Irrevocable Grant Trust assert in the complaint, which was filed last week in Los Angeles, that Allianz Life Insurance Co. of North America […]

    SEC Proposes Significant Form and Rule Amendments for the Registration of Index-Linked Annuities

    {October 17th, 2023} by Vedder Price

    On September 29, 2023, the SEC proposed significant form and rule amendments to establish a tailored registration form for index-linked annuities, as directed by Congress under the Registered Index-Linked Annuities Act of 2022 (RILA Act). Unlike variable annuity contracts, for which the SEC has adopted specific registration statement forms (i.e., Forms N-3 and N-4), insurance […]

    Sales by index: Incomparable resource!

    {October 11th, 2023} by Wink's Intel Pros

    Hybrid indices have been the primary source of indexed insurance companies’ product management efforts over the past few years.  Wink’s Index Intelligence Report provides data and insight on INDEXED ANNUITY AND INDEXED LIFE SALES BY INDEX- Annual Sales; More than a decade of historical sales for each index; PRODUCT INFORMATION- Which companies use which indices; […]

    National Western and Prosperity Life Group Announce $1.9 Billion Cash Merger

    {October 11th, 2023} by National Western Life Group, Inc.

    AUSTIN, Texas, Oct. 9, 2023 /PRNewswire/ — National Western Life Group, Inc. (“National Western” or the “Company”) (NASDAQ:NWLI), and Prosperity Life Group (“Prosperity Life Group”) today announced the signing of a definitive Merger Agreement whereby S. USA Life Insurance Company, Inc. (“SUSA”), an affiliate of Prosperity Life Group, will acquire National Western in an all-cash transaction valued at […]

    Ibexis Life & Annuity Insurance Company Launches 5-Year Fixed Indexed Annuity

    {October 11th, 2023} by Ibexis Life & Annuity Insurance Company

    JEFFERSON CITY, Mo.–(BUSINESS WIRE)–Ibexis Life & Annuity Insurance Company (“Ibexis”) today announced the launch of a 5-year index annuity, as the latest addition to its FIA Plus™ fixed indexed annuity series offering in the independent marketing organization (“IMO”) sales channel. The FIA Plus™ is an accumulation focused fixed indexed annuity. It offers crediting strategies linked […]

    Bankers Life Introduces New Flexible Premium Bonus Indexed Annuity

    {October 11th, 2023} by Bankers Life

    CHICAGO, Oct. 10, 2023 /PRNewswire/ — Bankers Life, a national life and health insurance brand that focuses on the insurance needs of Americans who are near or in retirement, announced today that it is expanding its annuities portfolio by introducing the Flexible Premium Bonus Indexed Annuity (FPBIA). The Bankers Life FPBIA is designed with stability and flexibility in […]

    Farmers Life, Ibexis Roll Out New Fixed-Indexed Annuities as Market Swells

    {October 11th, 2023} by Cyril Tuohy

    Second-quarter sales of fixed-indexed annuities surged 28% from a year ago to $25.1 billion, according to market tracker Wink’s Sales & Market Report. The top-selling fixed-indexed annuity carriers in the April through June period were Allianz Life, Athene and Corebridge Financial, Wink reported earlier. Click HERE to read the full story via Life Annuity Specialist

    As Annuity Sales Surge, Industry-Watchers Fret Over Weak Broader Growth

    {October 11th, 2023} by Warren S. Hersch

    Sheryl Moore, CEO of Wink and Moore Market Intelligence, said in an email that banks have taken on a greater share of multi-year guaranteed annuities because of the products’ simple design. The products account for nearly 40% of deferred annuity sales, she said. The trendline in sales has entailed challenges for independent marketing organizations, a main distribution channel […]

    SEC Proposes Streamlining Index Annuities Registration Process

    {October 11th, 2023} by Tracey Longo

    For years, the annuities industry has complained that the registration for new annuities products was needlessly cumbersome because insurers are forced to use non-annuities registration forms and procedures. Now, the Securities and Exchange Commission has proposed an overhaul designed to streamline the offering, disclosure and advertising framework insurers use for registered index-linked annuities (RILAs), including […]

    Terry Rasmussen’s long journey to becoming the CEO of Thrivent

    {October 11th, 2023} by Mary Ellen Egan

    Teresa “Terry” Rasmussen’s love of learning set her on a circuitous career path that ultimately led her to the top job at Thrivent, a financial services company with $162 billion assets under management. Rasmussen’s role makes her a rare female CEO in this industry (although because Thrivent is a nonprofit, she isn’t eligible for our […]

    ‘Annuity King’ sentencing delayed again as judge sorts out appeals

    {October 11th, 2023} by John Hilton

    A Florida judge rejected two appeals Monday and postponed sentencing again for Phillip Roy Wasserman, convicted of orchestrating a massive fraud scheme on senior citizens. Judge Charlene Edwards Honeywell paved the way, however, for Wasserman’s second trial on tax evasion charges to begin on schedule later this month. An evidentiary hearing will take place before […]

    NAIC task force: no life illustrations rework planned in 2024

    {October 11th, 2023} by John Hilton

    State insurance regulators advanced 2024 charges today and revealed no plans to confront a full-scale rewrite of the life insurance illustrations model. The Indexed Universal Life Illustration Subgroup is tasked with providing “recommendations for the consideration of changes to the Life Insurance Illustrations Model Regulation (#582) to the [Life Actuarial] Task Force, as needed.” That […]

    What Minnesota’s Revised Suicide Exclusions Statute Means for Insurers

    {October 11th, 2023} by Bill Hittler and Leah Kippola-Friske

    While the life insurance policy suicide exclusion is not an easy subject, most life insurance industry professionals are very familiar with those provisions. The provisions bar beneficiaries from receiving payment on death claims when the insured party dies as a result of suicide. Click HERE to read the full story via Think Advisor

    California Annuity Sales Rule Bill Stalls

    {October 11th, 2023} by Melanie Waddell

    The California State Legislature is not moving forward with SB 263, a bill to update annuity sales standards that is supported by the insurance industry but has drawn fierce opposition from consumer groups. The bill sailed through the state Senate in May, with no opposing votes at the committee level or on the state Senate […]

    Sigma Financial Owner Has a New Name

    {October 11th, 2023} by Jeff Berman

    Ann Arbor, Michigan-based SPS Family has changed its brand name to Axtella, while separately announcing that financial services industry veteran Rob Engle joined the firm as chief revenue officer. Axtella is the parent company of broker-dealers Sigma Financial and Parkland Securities and registered investment advisor Sigma Planning Corp. The 40-year-old company serves a network of […]

    Under DOL Rule’s Shadow, Fiduciary Fight Rages On

    {October 11th, 2023} by Melanie Waddell

    The fiduciary duty debate is raging once again with two recent developments: the Massachusetts fiduciary rule being upheld by the state’s highest court and the Labor Department’s new fiduciary rule being reviewed by the Office of Management and Budget. With the ruling by the Massachusetts Supreme Judicial Court in late August, broker-dealers in Massachusetts providing […]

    MOVEit Breach Suits Against Genworth, TIAA and Others Head to Boston

    {October 11th, 2023} by Allison Bell

    A judge in Boston will manage the pretrial proceedings for all of the MOVEit-related data breach lawsuits, including the suits naming life and annuity issuers such as Genworth Financial, Prudential Financial and TIAA as defendants. Judge Karen Caldwell and two other judges on a multidistrict litigation panel ruled last week that Judge Allison Burroughs of […]

    U.S. Life Activity Tilts Toward Bigger Policies

    {October 11th, 2023} by Allison Bell

    U.S. individual life insurance application activity fell 2.6% in September, but the picture differed based on the size of the policies. MIB Group, the organization that compiles the monthly life application activity index reports, says application volume for policies providing up to $250,000 in coverage was more than 10% lower than in September 2022. Click […]

    Annuities Are Becoming a Mainstream Tool for RIAs

    {October 11th, 2023} by Mike Reidy

    We believe annuities are becoming a strategic solution for forward-looking RIA’s who are using them as an asset allocation tool to provide reliable accumulation potential and retirement income for their clients. Click HERE to read the full story via Advisor Hub   Wink’s Moore on the Market: Come on, Michael Reidy. Annuities offer “income that will last. […]

    A ‘Shadow’ Lending Market in the U.S., Funded by Insurance Premiums

    {October 11th, 2023} by Maureen Farrell

    Apollo was the first to use annuities to build a major financing business. Others followed, driving the growth of the private lending market and worrying regulators. Click HERE to read the full story via The New York Times

    Insurance Companies Binged on Private Credit. Moody’s Is a Little Worried About It.

    {October 11th, 2023} by Michael Thrasher

    “Insurance companies have been turning increasingly to alternative asset managers and have invested more in private credit, boosting investment returns. But it’s heightened risks, too, ratings and research agency Moody’s Investors Service warned in a report this week.” Check it out with Institutional Investor HERE

    Pacific Life lawsuit back on track after complaint refiled

    {October 11th, 2023} by John Hilton

    A lawsuit against Pacific Life by a Washington couple dissatisfied with a PDX indexed universal life policy is back on track after a round of refilings. Simona G. Marie and Thomas Lewis, from Richland, Wash., initially filed a lawsuit June 27 against PacLife, Harding Financial Partners and Andrew Brown, the producer who sold them a PacLife PDX […]

    Overlooked Benefits of Bonus Annuities

    {October 11th, 2023} by SmartAsset Team

      Bonus Annuities are a compelling investment option offered by insurance companies, which frequently provide an upfront bonus or first-year interest rate bonus, on your initial investment.  Click HERE to read Often Overlooked Benefits of Bonus Annuities via SmartAsset Wink’s Moore on the Market: First of all- there are annuities available today with bonuses as […]

    From less than seven to nearly 40!

    {October 11th, 2023} by Sheryl J. Moore

    When I started Wink, Inc., 18 years ago, the average number of indexing method choices on an indexed annuity was less than seven. Today, there are products that have nearly 40 different indexing method options on a single product. Good or bad? Why? Why not? Join in my LinkedIn discussion HERE! – sjm

    Independent Distribution: Never Being “Outproducted”

    {October 11th, 2023} by Charlie Gipple

    Back in the early 2000s I worked for one of the large career life insurance companies that we all have heard of. This was and still is a great company that I was proud to represent. However, eventually, I decided to leave to work with one of the carriers here in Des Moines that was […]

    AM Best Revises Outlooks to Negative for GCU

    {October 11th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of GCU (Beaver, PA), formerly known as the Greek Catholic Union of the USA. The Credit Ratings (ratings) reflect GCU’s balance sheet strength, which AM Best […]

    AM Best Assigns Credit Ratings to TruSpire Retirement Insurance Company

    {October 11th, 2023} 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 TruSpire Retirement Insurance Company (TruSpire) (Irving, TX). The outlook assigned to these Credit Ratings (ratings) is stable. TruSpire is a newly formed entity under Mutual of America Life Insurance Company (MoA), which is […]

    AuguStar(SM) Retirement rocketing to success with competitive new products and distribution expansion

    {October 11th, 2023} by AuguStar Retirement

    CINCINNATI, Oct. 10, 2023 /PRNewswire/ — AuguStarSM Retirement, a subsidiary of Constellation, has been making waves in the annuity marketplace since its launch in late July. The company is thrilled to announce the introduction of new and enhanced products, alongside its strategic expansion into the independent marketing organization (IMO) sales channel. This strategic move is in line with AuguStarSM Retirement’s […]

    LifeQuotes.com Salutes Breast Cancer Awareness Month with a Good News Survey: Life Insurance Prices for Recovering Breast Cancer Patients are Lower than Four Years Ago

    {October 11th, 2023} by LifeQuotes.com

    WESTMONT, Ill., Oct. 9, 2023 /PRNewswire/ — LifeQuotes.com, the life insurance price comparison service that offers instant quotes from 50 highly-rated life insurers and allows customers nationwide to buy from any company shown, today released the results of a new life insurance survey that confirms the availability of life insurance at competitive prices for recovering breast cancer patients.  […]

    Prosperity Life to Buy Annuity Issuer for $1.9B

    {October 11th, 2023} by Allison Bell

    An insurer backed by Elliott Investment Management lost out on an effort to acquire one publicly traded U.S. annuity issuer in February, but now it has reached an agreement to acquire another. The insurer, Prosperity Life Group, has agreed to pay about $1.9 billion in cash for National Western Life Group. Click HERE to read […]

    PNC Advisor Platform to Offer Transamerica Annuities and Living Benefits

    {October 11th, 2023} by Transamerica

    BALTIMORE, Oct. 6, 2023 /PRNewswire/ — Transamerica is pleased to announce it has entered into a business arrangement with PNC, a leading provider of financial expertise. Transamerica’s suite of annuity and living benefit products are now available for PNC customers. PNC and Transamerica are committed to providing products and services that help individuals prepare to achieve a […]

    Northwestern Mutual kicks off construction phase of downtown north office building modernization project

    {October 11th, 2023} by Northwestern Mutual

    MILWAUKEE, Oct. 3, 2023 /PRNewswire/ — Northwestern Mutual today held a kickoff celebration with the Milwaukee community for its $500 million North Office Building Modernization project. The North Office Building, located at 818 East Mason Street in downtown Milwaukee, will be transformed to expand the company’s world-class workplace and employee experience.   “Today marks a major milestone in our investment to create a connected, world-class […]

    Integrity Expands its Reach by Partnering with Prosper with Purpose Financial

    {October 10th, 2023} by Integrity Marketing Group, LLC

    DALLAS, Oct. 3, 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 Prosper with Purpose Financial, a leading independent marketing organization (“IMO”) located in Doral, Florida, and led by Marco Conde. Financial details of the partnership were not […]

    Americans Strongly Opposed to AI Insurance Agents, Survey Finds

    {October 10th, 2023} by GeSure

    GREENBRAE, Calif., Oct. 2, 2023 /PRNewswire/ — 1.6 million U.S. insurance agents can breathe a little easier this morning, thanks to a recent survey by GetSure, a leading online insurance agency. “AI is coming to Insurance distribution and has the potential to do wonders for the customer experience,” said Rikin Shah, Founder & CEO of GetSure. “Getting this right, […]

    Northwestern Mutual’s Black Founder Accelerator® program celebrates its third year of empowering Black entrepreneurs

    {October 10th, 2023} by Northwestern Mutual

    MILWAUKEE, Oct. 9, 2023 /PRNewswire/ — Furthering its commitment to championing diversity, equity and inclusion, Northwestern Mutual, in partnership with gener8tor, a nationally ranked startup accelerator, announced this year’s fall cohort of five Black-owned tech startups to its Black Founder Accelerator program. Research shows that Black founders receive less than two percent of venture capital. To combat […]

    Despite Competing Financial and Social Pressures, Emerging Adults Ages 18-34 Are Positive about Their Future and Value the Simple Things in Life

    {October 10th, 2023} by Edward Jones

    ST. LOUIS, Oct. 10, 2023 /PRNewswire/ — The majority of Americans ages 18 to 34 (80%) currently view themselves as struggling or merely surviving in life, but are optimistic about their future, according to new research from financial services firm Edward Jones. In partnership with Next360 Partners and MarketCast, Edward Jones set out to define this age group […]

    NWL is being acquired; it will be interesting to see what this means for the companies

    {October 10th, 2023} by Sheryl J. Moore

    Well, I guess Ross Moody has some extra time on his hands now. National Western Life Insurance Company (NWL) is being acquired by Prosperity Life’s S. USA Life Insurance Company’s subsidiary. As of 2Q2023, the companies have a combined market share of 1.18% of the $79.7 billion deferred annuity market. They also hold 0.39% of the $914.3 million in […]

    Omaha insurance giant ordered to change procedures, pay life insurance benefits United of Omaha denied benefits due to lack of ‘proof of good heal

    {October 10th, 2023} by Paul Hammel

    LINCOLN — A federal investigation found that an Omaha life insurance company had denied numerous insurance claims based on a technicality after taking premiums for years — a practice one labor official labeled “terrible.” The United of Omaha Life Insurance Co., its parent company, Mutual of Omaha Insurance, and United’s subsidiary, Companion Life Insurance Co., […]

    How do you leverage Wink’s data?

    {October 3rd, 2023} by Sheryl J. Moore

    I have to have a client put together a “use case,” describing how they leverage Wink, Inc.‘s data. Are any of you open to helping out with this? This would be on display on our new website. (i.e. You’ll be famous!!) *sjm groveling*   Shoot us a note on the online chat or support@winkintel.com if you’d like […]

    Wink’s extended family is growing!

    {October 3rd, 2023} by Wink's Intel Pros

    Wink’s president, Victoria and her husband, Zach, are delighted to announce the birth of their daughter, Remi Lee Jean. Remi surprised everyone, born four weeks early on September 23, 2023, and was welcomed home last week by her big brother, Jameson, and two older sisters, Layla and Violet.   “Now, I can totally feed those […]

    Bloomberg Launches First of its Kind Global Momentum Strategy Index

    {October 3rd, 2023} by Bloomberg

    The new Bloomberg Global Momentum Diversified Leaders 5% multi-asset index captures momentum across four different time horizons NEW YORK, Sept. 26, 2023 /PRNewswire/ — Bloomberg today announced the launch of its Bloomberg Global Momentum Diversified Leaders 5% ER Index, which joins Bloomberg’s suite of multi-asset indices as a first of its kind innovation in how momentum index strategies are […]

    Farmers Life Insurance Company Introduces Its Harvest™ Fixed Index Annuity

    {October 3rd, 2023} by Farmers Life Insurance

    Expanded Product Line Aims to Address Growing Retirement Needs KNOXVILLE, Tenn., Sept. 28, 2023 /PRNewswire/ — Farmers Life Insurance Company, a Tennessee domiciled life insurance company, has officially launched its first fixed index annuity (FIA) product called the Harvest. This retirement solution seeks to provide meaningful accumulation potential without exposure to market declines, helping consumers protect a portion of […]

    John Hancock Unveils Hybrid Indexed Life Product for the Worksite

    {October 3rd, 2023} by Warren S. Hersch

    The unveiling comes at a propitious time for sales of indexed life products. Volume in the second quarter, including for indexed universal and indexed whole life insurance, rose to $812.6 million, up 18.5% from the year before, according to Wink’s Sales & Market Report. Wink reported that products geared toward cash accumulation accounted for nearly three-quarters, or […]

    Securian Delinks Cap Rates on New and In-Force Indexed Universal Life Policies

    {October 3rd, 2023} by Cyril Tuohy

    Indexed universal life sales have been a consistent bright spot for the industry with second quarter sales increasing 5.9% from a year ago to $726.2 million, according to Wink’s Sales & Market Report. Top sellers in the second quarter were National Life Group, Transamerica and Pacific Life, Wink reported. Carrier Protections “Good luck suing for this,” said Sheryl Moore, CEO of Wink, […]

    You Have Gaps to Close

    {October 3rd, 2023} by Allison Bell

    Lincoln Financial’s Stafford Thompson Jr. wants you to think about both retirement needs and life insurance. Stafford Thompson Jr. hopes agents and advisors will observe Life Insurance Awareness Month by helping members of underserved communities get the coverage they need. Click HERE to read the full story via ThinkAdvisor

    RIAs seeing increase in client anxiety over retirement plans, survey shows

    {October 3rd, 2023} by Gregg Greenberg

    Recent market volatility is causing concerned clients to phone their RIAs with worries about whether they will be able to retire as planned.  Click HERE to read the full story via InvestmentNews

    I am a life-long learner.

    {October 3rd, 2023} by Sheryl J. Moore

    Fifteen years ago, I embarked on a journey that I would like to share with you tonight. I am a life-long learner:   

    Why Are We Averse to Annuities?

    {October 3rd, 2023} by Jessica Bebel

    On this episode of The Long View, CEO and founder of Hueler Companies, Kelli Hueler, discusses Income Solutions, retirement, and the role of annuities. Here are a few excerpts from Hueler’s conversation with Morningstar’s Christine Benz and Jeff Ptak: Click HERE to read   Wink’s Moore on the Market: This was an interesting read. Kelli Hueler had […]

    This is the kind of bologna that makes me despise the “credible” sources

    {October 3rd, 2023} by Sheryl J. Moore

    Oh, Kiplinger– you’re on one. Wish I knew the author of this whammy, so that I could drop a little annuity knowledge on them. Click HERE to read “Advisory Annuities Let You Eliminate the Middlemen” on Yahoo! Finance.  Of course a well-structured retirement plan could outpace an annuity; annuities are insurance, after all. A retirement plan […]

    Engineered indices debate continues

    {October 3rd, 2023} by Sheryl J. Moore

    And the debate continues… Hybrid indices (or “engineered indices,” as my friend Bobby Samuelson calls them) have been juicing the illustrations arms race on both indexed life insurance and indexed annuities. Read here,  in The Annuity Edge for Bobby’s take on the matter “Engineered Indices & FIA

    Americans Strongly Opposed to AI Insurance Agents, Survey Finds

    {October 3rd, 2023} by GetSure

    GREENBRAE, Calif., Oct. 2, 2023 /PRNewswire/ — 1.6 million U.S. insurance agents can breathe a little easier this morning, thanks to a recent survey by GetSure, a leading online insurance agency. “AI is coming to Insurance distribution and has the potential to do wonders for the customer experience,” said Rikin Shah, Founder & CEO of GetSure. “Getting this right, […]

    Delaware Life Marketing Announces New President and CEO, Colin Lake

    {October 3rd, 2023} by Group 1001

    ZIONSVILLE, Ind., Sept. 28, 2023 /PRNewswire/ — Delaware Life, a Group 1001 company, today announced the appointment of Colin Lake as President and CEO of Delaware Life Marketing. Lake brings more than 26 years of experience to the role with a track record of leading sales teams toward sustainable, exponential growth. Tom Seitz, who has been instrumental in […]

    SEC Proposes Tightening RILA Registration

    {October 3rd, 2023} by Melanie Waddell

    The Securities and Exchange Commission on Friday proposed to update the offering process and disclosure requirements for registered index-linked annuities, or RILAs. The proposal, a congressional directive, would require RILAs to use a registration form tailored to their characteristics. Click HERE to read the full story via Think Advisor

    Bill Could Limit Treasury Unit’s Ability to Probe Insurers

    {October 3rd, 2023} by Allison Bell

    Agroup of House Republicans wants to keep federal financial regulators out of insurers’ hair. The lawmakers introduced H.R. 5535, the Insurance Data Protection Act bill, last week. The bill would discourage the Federal Insurance Office and some other federal agencies, such as the Office of Financial Research, from getting data directly from insurers. Click HERE to […]

    What Colorado’s New Data Regulations Could Mean for Insurers, Agents

    {October 3rd, 2023} by Allison Bell

    The Colorado Division of Insurance last week adopted major regulations that will govern life insurers’ use of any “external consumer data and information source,” or ECDIS. That definition appears to include traditional data streams and analytical systems as well as artificial intelligence-based systems. Click HERE to read the full story via Think Advisor

    Annuities in Play as Colorado Regulates Life Insurance Data, Attorneys Predict

    {October 3rd, 2023} by Allison Bell

    Two insurance regulatory law specialists say the effort that created the new Colorado life insurance technology unfair discrimination regulation will likely expand to affect annuities. The Colorado regulation will also do more to affect how insurers operate than other state efforts to address concerns about new forms of decision-support technology, the lawyers predicted. Paige Waters, a […]

    How annuities optimize retirement income

    {October 3rd, 2023} by Susan Rupe

    Financial advice often focuses on the accumulation phase of retirement planning. But the decumulation phase — when households seek to generate sufficient income in retirement to meet their spending needs — requires an equal focus. Research from BlackRock and the Bipartisan Policy Center showed how a comprehensive approach to retirement planning that includes annuities can […]

    Brighthouse Financial Announces Conference Call to Discuss Third Quarter 2023 Results

    {October 3rd, 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 third quarter ended September 30, 2023, at 8:00 a.m. Eastern Time on Wednesday, November 8, 2023. The call will follow the issuance of the Brighthouse Financial […]

    WisdomTree Siegel Strategic Value Index™ Wins FIA Index of the Year Award

    {October 3rd, 2023} by WisdomTree, Inc.

    NEW YORK–(BUSINESS WIRE)–WisdomTree, Inc. (NYSE: WT), a global financial innovator, today announced that the WisdomTree Siegel Strategic Value Index™ (BBG Ticker: CIBQWS6E) (the “Siegel Index”) won the FIA Index of the Year Award by Structured Retail Products (SRP). The Siegel Index was developed by Professor Jeremy Siegel, Senior Economist to WisdomTree and Emeritus Professor of […]

    Jackson to Report Third Quarter 2023 Financial Results

    {October 3rd, 2023} 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, 2023, after market close Wednesday, November 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 Thursday, November 9, 2023, at 10 a.m. ET to review […]

    Lincoln Financial Group named 2023 “Best Variable Index Annuity Carrier” by Structured Retail Products Americas

    {October 3rd, 2023} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) has been named the 2023 “Best Variable Index Annuity Carrier” by Structured Retail Products (SRP) Americas, a leading provider of structured products data and intelligence, for a third time. Lincoln was recognized for its best-selling registered indexed-linked annuity (RILA), Lincoln Level Advantage ®, which also earned the award in 2019 and […]

    Best’s Special Report: Growth in Insurers’ Private Equity Investments Slowed Significantly in 2022

    {October 3rd, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–U.S. insurance companies’ private equity investments slowed in 2022, rising just 3.3% in 2022 to $132.0 billion, following a year of exceptional growth in the previous year, according to a new AM Best report. In its Best’s Special Report, titled, “Growth in Insurers’ Private Equity Investments Slowed Significantly in 2022,” AM Best states that life/annuity insurers, which […]

    Life Insurance Exchange Rules Confuse Firms, Could Cost Them

    {October 3rd, 2023} by Caleb Harshberger

    Proposed regulations around Section 1035 life insurance policy exchanges may lead some companies to stumble into taxable exchanges without realizing it, IRS officials were told at a Thursday hearing. Federal Policy Group consultant Ken Kies, representing Finseca, an association of financial planning professionals, told the IRS at the hearing—and Finseca wrote in a comment letter—that the […]

    Study: RIAs Say Clients Worried About Retirement; How They’ll Be Able to Do It, When They’ll Be Able to Do It, and How Well They’ll Be Able to Do It

    {October 3rd, 2023} by RetireOne

    SAN FRANCISCO–(BUSINESS WIRE)–RetireOne, the leading independent platform for fee-based insurance solutions, in partnership with Allianz Life Insurance Company of North America (Allianz) released their joint 2023 RIA Protected Accumulation + Retirement Income Survey today. he survey reveals that Investment Advisor Representatives (IARs) of Registered Investment Advisory firms (RIAs) understand that clients are increasingly worried about their retirement prospects, grappling […]

    Brickell Insurance Holdings to Sell Merit Life Insurance Co.

    {October 2nd, 2023} by Brickell Insurance Holdings

    MIAMI–(BUSINESS WIRE)–Brickell Insurance Holdings LLC (“Brickell”) announced today that it has entered into a definitive agreement to sell Merit Life Insurance Co. (“Merit” or the “Company”) to a private investor group. Founded in 1957 and headquartered in Charlotte, N.C., Merit is an A- rated* insurance company providing innovative, digital-first retirement solutions. Merit plans to roll […]

    Deviled eggs and FIA annual reset — who knew?

    {October 2nd, 2023} by Jeff Barnes

    Like a lot of us, I love deviled eggs, and I tend to enjoy more than my fair share of them at parties. That is, until I made them for the first time. My wife warned me it wouldn’t be a simple task. Click HERE to read the full story via INN   Wink’s Moore […]

    Northwestern Mutual Expects Record-Breaking $7.3B Dividend Payout in 2024

    {October 2nd, 2023} by Northwestern Mutual

    After a decade of unprecedented market volatility, ongoing inflation, and other economic pressures on financial institutions, Northwestern Mutual is proud to share that we expect a record-setting dividend payout of $7.3 billion in 2024. Our philosophy has always been to share our success with policyowners by paying the highest possible dividends over time while maintaining our financial […]

    Why Corebridge Embraces Term Life

    {October 2nd, 2023} by Allison Bell

    Corebridge Financial likes selling permanent life insurance policies and also enjoys selling term life insurance. Tim Heslin, president of life insurance at the Houston-based life and annuity giant, talked in a recent email interview about the company’s strategy in selling a product that some competitors have dismissed as a commodity. Click HERE to read the […]

    Too Heavy in Stocks? Annuities Could Be a Rebalancing Option

    {October 2nd, 2023} by Kevin Nuss

    When Fidelity Investments recently crunched the data on its retirement accounts customers, it found that 37% of those born between 1946 and 1964 (so-called Baby Boomers) have more equity holdings than they should. Depending on age, people in this age bracket should have 47% to 67% in equities, Fidelity said. But well more than a third were […]

    VUL is a Swiss Army knife for small-business owners

    {October 2nd, 2023} by Hector Martinez

    Balancing cash flows with costs has always been a challenge for small businesses. But stubborn inflation and turmoil in the banking industry now are making it more difficult for entrepreneurs to access money when they need it most. And as small-business bank loan approvals continue to plunge, business leaders will need another way to keep […]

    Building success on a history of experience — With Eric Henderson

    {October 2nd, 2023} by Paul Feldman

    Eric Henderson, president of Nationwide Financial’s annuity business segment, has seen the annuity business grow and change since 1985. He began his career at Nationwide as an actuarial assistant in 1985 and spent much of his career as an actuary. He climbed the ladder at Nationwide and now is responsible for the financial health and […]

    Cetera, Avantax quiet on $1.2B deal that’s poised to shift industry power

    {October 2nd, 2023} by Tobias Salinger

    With its parent securing an agreement for the largest M&A deal among independent brokerages this year, Cetera Financial Group is on track to become the fourth largest firm in the channel. The pending all-cash acquisition of Dallas-based Avantax by Los Angeles-based Cetera Holdings announced earlier this month values the selling firm at about $1.2 billion […]

    Hexure Acquires Vive

    {October 2nd, 2023} by Hexure

    COLORADO SPRINGS, Colo.–(BUSINESS WIRE)–Hexure, a provider of sales and regulatory automation solutions for the life and annuity industry, announced the acquisition of Vive, a quote and e-submission platform for life insurance, to create a single, best-in-class distribution platform for the life and annuity industries. With a focus on delivering a modern enrollment experience for carrier, […]

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