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Archive for July 2024


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  • Allianz Life Launches New Indexed Universal Life Insurance Product

    {July 23rd, 2024} by Allianz Life

    MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life) today launched Allianz Life Accumulator™ Indexed Universal Life Insurance Policy, a new Indexed Universal Life (IUL) insurance product that now becomes Allianz Life’s flagship IUL product. Allianz Life Accumulator™ replaces Allianz Life Pro+® Advantage Fixed Index Universal Life Policy and is available to financial professionals […]

    American National Introduces Proprietary Custom Annuity Index

    {July 23rd, 2024} by American National Insurance Company

    HOUSTON, July 16, 2024 (GLOBE NEWSWIRE) — American National Group (“American National”) today announced the launch of its first proprietary custom index, which will be paired with American National’s Strategy Index 10 annuity. Developed in collaboration with BNP Paribas, the Patriot Technology Index is designed to offer clients a unique blend of innovation, protection, and […]

    Brighthouse Financial Introduces Enhancements to Brighthouse SmartCare®

    {July 23rd, 2024} by Brighthouse Financial, Inc

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it has introduced new enhancements to Brighthouse SmartCare, its flagship life insurance product. Brighthouse SmartCare is a hybrid life insurance product that provides a guaranteed death benefit while helping to protect clients from the costs of long-term care (LTC) through […]

    New Symetra IUL takes entire application and underwriting online

    {July 23rd, 2024} by John Hilton

    Symetra Life Insurance Co. is out with a new indexed universal life product that offers consumers a fully automated online digital purchase process. The Symetra SwiftProtector can offer coverage in as little as 25 minutes to qualified applicants, the insurer said in a news release. Designed for customers ages 20-60 with permanent coverage needs up to […]

    Fifth Circuit overturns DOL’s ESG rule, cites recent SCOTUS ruling

    {July 23rd, 2024} by John Hilton

    The Court of Appeals for the Fifth Circuit tossed out the Biden administration’s ESG rule in a decision posted this morning. In doing so, the court cited the recent Supreme Court ruling striking down the so-called Chevron doctrine. Justices overruled their landmark 1984 decision in Chevron v. Natural Resources Defense Council, which gave federal agencies broad power […]

    Insurers’ lawsuit over AM Best ratings delayed again amid settlement talks

    {July 23rd, 2024} by John Hilton

    A New Jersey judge granted another extension Friday to give AM Best and two life insurers more time to finalize an agreement to end a lawsuit over negative ratings. Atlantic Coast Life Insurance and Sentinel Security Life Insurance want to stop AM Best from downgrading their financial strength ratings, which would drop from B++ to […]

    Despite expectations, insurance industry M&As continue to decline

    {July 23rd, 2024} by Doug Bailey

    An expected pickup in insurance industry mergers and acquisitions has not yet materialized as the landscape saw a continuing and significant decrease in the first half of this year. According to OPTIS Partners’ M&A database, there were 300 announced transactions, which is a 20% decline from 385 agreements registered during the same period in 2023. This is […]

    I just couldn’t get past the grief long enough to see that they needed me.

    {July 23rd, 2024} by Sheryl J. Moore

    I’ve struggled with wanting to live. Not now, but twice I thought that living wasn’t for me. Both times were after my firstborn’s suicide. The grief was indescribable. The depression was unreal. I was hallucinating from the medications. And I tried to end my life. Then, I went inpatient. I learned that I needed to […]

    There’s No Magic Retirement Number for Everyone: Wade Pfau

    {July 23rd, 2024} by John Manganaro

    The development of better variable spending strategies represents one of the most compelling approaches to improving retirement outcomes, according to Wade Pfau, the retirement researcher and co-founder of the Retirement Income Style Awareness platform. However, Pfau asserts in a recent interview with ThinkAdvisor, many in the general public remain tied to traditional rules of thumb when […]

    DOL is overreaching its authority again, fiduciary rule critics tell Texas federal court

    {July 23rd, 2024} by Leo Alamazora

    A coalition representing life insurance and annuity issuers told a federal court in Texas that the US Department of Labor’s new fiduciary rule overreaches its authority and flouts previous court rulings. Click HERE to read the full story via InvestmentNews     Wink’s Moore on the Market: The coalition representing the interests of the insurance […]

    The benefits of including annuities as an RIA

    {July 23rd, 2024} by Josh Welsh

    An important aspect of going RIA is understanding exactly what the different business models and fee structures are, so you can be ready to best serve the interests of your clients, as well as fully maximizing your revenue streams.   Click HERE to read the full story via InvestmentNews   Wink’s Moore on the Market: […]

    777 Partners’ London basketball team faces potential closure

    {July 23rd, 2024} by Kenneth Araullo

    A London basketball team owned by investment firm 777 Partners faces potential closure due to a legal action supported by multiple creditors. The London Lions, a basketball club purchased by 777 in 2020, is confronting a winding-up petition from one of its clothing suppliers, according to a court hearing on Wednesday. Click HERE to read […]

    This is an excellent opportunity for a candidate who may be ready for this executive role

    {July 23rd, 2024} by Sheryl J. Moore

    I have a client that is a growing, dynamic annuity company. They are seeking a Chief Financial Officer. This is an excellent opportunity for a candidate who may be ready for this executive role, or who is currently in this role and desires entrepreneurial opportunities. The CEO/company is seeking a strategic business partner. They prefer […]

    Senior Market Sales® White Paper: Solving Retirement Crisis Requires New Industry Thinking, Solutions

    {July 23rd, 2024} by Senior Market Sales

    Insurance Agents, Financial Advisors Serving as Educators and Guides Will Thrive OMAHA, Neb., July 15, 2024 /PRNewswire/ — To successfully navigate the mounting challenges in the retirement planning industry, insurance agents and financial advisors must rethink traditional planning paradigms, practices and even their own roles, a new white paper by Senior Market Sales® (SMS) asserts. “The Retirement Planning Mind […]

    Retirement Reconsidered 2024: Second Annual F&G Survey Reveals Half of Americans Over 50 Continue to Delay or Consider Coming Out of Retirement

    {July 23rd, 2024} by F&G Annuities & Life, Inc.

    New Research Shows that Two Out of Three Pre-retirees Over 50 Are Considering Pushing Back Their Planned Retirement Date DES MOINES, Iowa, July 17, 2024 /PRNewswire/ — Just over half (51%) of pre-retirees over 50 and retired Americans¹ are considering delaying or coming out of retirement, according to a new survey from F&G Annuities & Life, Inc. (NYSE: FG) […]

    Fidelity National Financial Announces Second Quarter 2024 Earnings Release and Conference Call

    {July 23rd, 2024} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., July 22, 2024 /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, publicly traded subsidiary F&G Annuities & Life, Inc. […]

    New DOL Fiduciary Rule Defies Court Ruling, Insurance Groups Argue

    {July 23rd, 2024} by Melanie Waddell

    A coalition of trade groups for life insurance and annuity issuers told a federal court in Texas on Friday that the Labor Department’s new fiduciary rule should be halted because DOL exibited “outright defiance” of the court’s decision to vacate the 2016 rule in crafting the new one. “DOL’s lead argument — that ERISA’s text […]

    F&G Annuities & Life Announces Second Quarter 2024 Earnings Release and Conference Call

    {July 23rd, 2024} by F&G Annuities & Life, Inc.

    DES MOINES, Iowa, July 22, 2024 /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 second quarter 2024 earnings after the close of regular market trading on Monday, August 5, 2024. A webcast and conference call to discuss the results will follow […]

    Pan-American Life Insurance Group launches with Sapiens

    {July 23rd, 2024} by Patrick Brusnahan

    Insurance software provider Sapiens has announced that Pan-American Life Insurance Group (PALIG) has gone live with Sapiens IllustrationPro, an SaaS solution hosted on the Microsoft Azure cloud. PALIG chose Sapiens to consolidate illustrations on a single platform and provide insurers with faster time to market within the North America. Click HERE to read the full […]

    Parent Trap: Nearly Half of Adult Gen Zers Getting Financial Help from Mom & Dad, According to BofA Study

    {July 23rd, 2024} by Bank of America

    CHARLOTTE, N.C., July 10, 2024 /PRNewswire/ — Today, 46% of Gen Zers (ages 18-27) rely on financial assistance from parents and family, according to new research from Bank of America America’s Better Money Habits® financial education team. In addition, 52% of those surveyed said they don’t make enough money to live the life they want […]

    American National Adds Annuity Investment Option for a Tough World

    {July 23rd, 2024} by Allison Bell

    American National has come up with a financial product that could appeal to clients who have a bleak global view, or who want a more direct way to hedge against geopolitical risk. The Houston-based insurer has joined with BNP Paribas to introduce the Patriot Technology Index. Managers of the index will tie its performance to […]

    Protective Launches New Term Policy Rider Option to Support Chronic Illness Coverage

    {July 23rd, 2024} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation, a subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750) today announced the launch of a new rider for its flagship Protective® Classic Choice term policy, which is issued by its principal subsidiary Protective Life Insurance Company (“Protective”). The new rider, Conversion Choice℠ rider with ExtendCare℠ provides customers with enhanced options for long-term protection and future chronic […]

    Best’s Special Report: Commercial Mortgages Gained Larger Role in U.S. Life Annuity Insurers’ Investment Portfolios During 2023

    {July 23rd, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–U.S. life/annuity (L/A) insurers continued to increase allocations to commercial mortgage loan portfolios in 2023, but problem loans, including those 90 days delinquent, again rose sharply, according to a new AM Best report. The Best’s Special Report, “Mortgages 90 Days Overdue Double,” states that L/A insurers expanded their allocations to mortgage loans last year by more […]

    Prosecutors urge judge to reject Greg Lindberg petition for a new trial

    {July 23rd, 2024} by John Hilton

    Federal prosecutors say the second prosecution of Greg Lindberg on bribery charges was free of errors and the court should reject the defendant’s request for a new trial. Lindberg is trying to best the government a second time in challenging his May conviction. Convicted in 2020 on bribery and fraud charges, along with associate John […]

    Most Pre-Retirees Pushing Back Retirement Timeline

    {July 23rd, 2024} by Brian Anderson

    Retirement can—or must—wait, say a startling nearly 7 in 10 over-50 pre-retirees in a new survey released today from F&G Annuities & Life, Inc. Des Moines, Iowa-based F&G’s second annual Retirement Reconsidered survey explored how the current market environment is impacting decisions leading up to and into retirement. It found just over half (51%) of Americans over age 50 are […]

    The New Fiduciary Rule (39): Qualified Annuity Exchanges

    {July 23rd, 2024} by Faegre Drinker Biddle & Reath LLP

    The Department of Labor has issued the: final regulation defining fiduciary status for investment advice to retirement investors and related exemptions for prohibited conflicts—PTEs 2020-02 and 84-24. The exemptions provide relief from prohibited compensation resulting from fiduciary recommendations to “retirement investors”—private sector retirement plans, participants in those plans (including rollover recommendations), and IRAs—individual retirement accounts […]

    Pan-American Life Insurance Group Goes Live with Sapiens IllustrationPro SaaS Solution for Rollout on Microsoft Azure Cloud

    {July 23rd, 2024} by Sapiens International Corporation

    ROCHELLE PARK, N.J., July 18, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that Pan-American Life Insurance Group (PALIG) has gone live with Sapiens IllustrationPro, a comprehensive SaaS solution hosted on the Microsoft Azure cloud.   After extensive competitor analysis, PALIG selected Sapiens to consolidate illustrations on a […]

    IRI Seeks Input on Annuity Data Standardization

    {July 23rd, 2024} by Paul Mulholland

    The Insured Retirement Institute has issued a request for information that seeks suggestions on how to best “develop a new infrastructure for data standards as well as a single source of consistent product data.” “Consistent, standardized data delivered in real-time will enable the industry to enhance, develop, and link user experiences,” IRI stated. Click HERE […]

    Craig Hawley to Run Nationwide’s Annuity Business

    {July 23rd, 2024} by Allison Bell

    Nationwide and John Hancock have named new leaders for major business units. Nationwide has picked Craig Hawley to succeed Eric Henderson as the leader of Nationwide Annuity. Hawley will succeed Eric Henderson, who is retiring. John Hancock brought in Hector Martinez to be head of insurance. Brooks Tingle, the former head, moved up to become John Hancock’s CEO.  Click […]

    5 Things Biden’s Election Exit Means for Life and Annuities

    {July 23rd, 2024} by Allison Bell

    For life insurance and annuity professionals, one obvious impact of the announcement will be the addition of a story they can use to illustrate the importance and complexity of business succession planning. See the accompanying gallery for five more ideas about how Biden’s exit from the campaign could affect the life and annuity sector. Click […]

    Why Life Insurance Should Be More Accessible To More People

    {July 23rd, 2024} by Chris Copeland

    “Thank you so much, for everything. What you just said lifted my spirit. I can do this. I can keep going.” These are more than just words from a customer, Akouwa, who lost her husband to cancer and called TruStageTM to file a claim on his life insurance policy. This powerful sentiment is a reminder of […]

    Ameritas lawsuit: $5M New Jersey policy hid a STOLI connection

    {July 23rd, 2024} by John Hilton

    Ameritas Life Insurance Co. is challenging another life insurance policy under New Jersey’s ban on stranger-originated life insurance (STOLI). The insurer filed a lawsuit in federal court in March, claiming that a $5 million life policy from 2008 looks similar to an illegal STOLI attempt. Stranger-originated life insurance is a policy someone, usually an investor, […]

    Limited-pay options for lifetime coverage

    {July 23rd, 2024} by Kathleen Johnson

    Limited-pay life insurance is an appealing proposition to many clients. With today’s flexible products, there are multiple ways to achieve a limited-pay solution. Limited-pay life insurance, often called 10-pay or 20-pay, is a traditional whole life carrier product design less frequently offered today. Although the concept works well in certain client situations, many plans lacked […]

    Principal® Adds New Annuity With Guaranteed Lifetime Income Option

    {July 16th, 2024} by Principal Financial Group

    DES MOINES, Iowa–(BUSINESS WIRE)–With the number of people in the United States aged 65 years and older on the rise, Principal Financial Group® has launched its second Registered Index-Linked Annuity (RILA), Principal® Strategic Income, that helps individuals nearing or in retirement create guaranteed lifetime income while still building and protecting their retirement savings. “A convergence of factors has accelerated […]

    Lawmakers Advance Two Measures to Kill DOL Fiduciary Rule

    {July 16th, 2024} by Melanie Waddell

    The House Education and Workforce Committee passed by a 23-18 vote Wednesday a Congressional Review Act resolution to disapprove the Labor Department’s new fiduciary rule. Labor’s rule “represents a reckless overreach by the Biden administration,” Rep. Virginia Foxx, R-N.C., chairwoman of the committee, said Wednesday during the markup. Click HERE to read the full story via Think Advisor

    Annuities & More with Sheryl Moore


    Join CBS Spotlight as we discuss the truth and misconceptions of annuities with The founder, creator, & CEO of Wink Inc. & Moore Market Intelligence – Sheryl Moore! Gives us a listen, you might be surprised what Sheryl Moore has to say.   Wink’s Moore on the Market: Likely the most unique podcast I’ve ever […]

    Components of Hybrid Indices

    {July 16th, 2024} by Sheryl J. Moore

    What if I told you that most hybrid indices change the components that make up the index at least annually? How would you feel about that? -sjm   Join in the LinkedIn discussion HERE

    DOL Fiduciary Rule Mania: What’s Happening and Where It’s Headed

    {July 16th, 2024} by Melanie Waddell

    If your eyes have been glazing over trying to keep up with the torrid pace of recent efforts to torpedo the Labor Department’s new fiduciary rule, known officially as the retirement security rule, you’re not alone. Here’s a rundown of where things stand now, what might happen next. The biggest takeaway for advisors: Be prepared […]

    A Couple Won the Powerball. Investing It Turned Into Tragedy.

    {July 16th, 2024} by Jason Zweig

    In spring 2008, Paul Rosenau, a construction supervisor and heavy-equipment operator in Waseca, Minn., bought a Powerball ticket—and hit a $59.6 million after-tax jackpot. Rosenau, a devout Lutheran and the son of a pastor, recalls with a tremor in his voice how he and his wife, Sue Rosenau, felt when they woke up the next […]

    AM Best Places Credit Ratings of American National Insurance Company and Its Affiliates Under Review With Developing Implications

    {July 16th, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of American National Insurance Company (ANICO) and its affiliates, American National Life Insurance Company of Texas and American National Life Insurance Company of New York (Glenmont, […]

    U.S. Life insurance market expected to reach $1.48T by 2032, research firm says

    {July 16th, 2024} by EIN Presswire

    According to a recent report published by Allied Market Research, titled, “U.S. Life Insurance Market by Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2023–2032,” the U.S. life insurance market was valued at $ 765.38 billion in 2023 and is projected to reach $ 1,476.31 billion by 2032, growing at a CAGR of 7.1% […]

    Bill to kill fiduciary rule heads for full congressional vote

    {July 16th, 2024} by Doug Bailey

    A bill to kill the Biden Administration’s new fiduciary rule is headed for a full vote in Congress after two committees this week resoundingly approved it. But the rule, intended to clarify when financial professionals must act in the best interest of their clients, may die regardless of what legislators decide, thanks to the Supreme Court. In […]

    DOL may review ‘derisking’ pension risk transfers, says congressional report

    {July 16th, 2024} by Doug Bailey

    A recent Department of Labor report to Congress reaffirming current fiduciary standards for selecting annuity providers in defined benefit pension plans also includes notice that it may review the increasingly common, and controversial, practice of companies transferring pension risks to life insurers, commonly known as “derisking.” The report by the DOL’s Employee Benefits Security Administration (EBSA), which […]

    Critics worry about personal data in NAIC accelerated underwriting effort

    {July 16th, 2024} by John Hilton

    Regulators rushing to finish a new accelerated underwriting guidance need to be wary of privacy concerns and the potential for discrimination, advocates said Thursday. The Accelerated Underwriting Working Group picked up work on the guidance effort in recent months and is working swiftly to get a completed product before the National Association of Insurance Commissioners’ […]

    Annuity Issuers Should Improve Their Best-Interest Reviews: Regulator

    {July 16th, 2024} by Allison Bell

    State insurance regulators want some fixed annuity issuers to work harder at monitoring their sales and distribution networks. The regulators have offered the issuers an alternative to U.S. Labor Department oversight, by creating an annuity suitability regulation update based on the U.S. Securities and Exchange Commission’s Regulation Best Interest rather than the Labor Department’s fiduciary rule requirements. Click HERE to […]

    SEC ruling could amp up RILA accessibility, encourage competition

    {July 16th, 2024} by Rayne Morgan

    After months of deliberation, the U.S. Securities and Exchange Commission has adopted tailored disclosure requirements and offering processes for registered index-linked annuities (RILA) and registered market value adjustment annuities. RILAs must now use the same Form N-4 that variable annuities use, intending to make the registration process more transparent, accessible and efficient. The annuity market […]

    Life Application Activity Cools

    {July 16th, 2024} by Allison Bell

    U.S. individual life insurance application activity was 6.4% lower in June than in June 2023, according to MIB Group. The life insurance group says activity for people ages 71 and older increased 3.4% and that the number of whole life applications they submitted increased more than 10%. Click HERE to read the full story via […]

    Immediate Annuity Income Target Rises 6%

    {July 16th, 2024} by Allison Bell

    U.S. income annuity shoppers are willing to pay more, and they seem to expect income needs to increase more than the Social Security cost-of-living adjustment rate, according to new annuity search data from Cannex Financial Exchanges. Shoppers who looked for single-premium immediate annuities in the second quarter asked for prices with an average premium of $362,802, […]

    New York Moves to Take Control of Columbian Mutual Life

    {July 16th, 2024} by Allison Bell

    New York State Financial Services Superintendent Adrienne Harris is seeking state court approval to put Columbian Mutual Life Insurance Co. in rehabilitation. The Vestal, New York-based life insurer was founded in 1882, still has about 700,000 life insurance policies and annuity contracts in force, and, in December 2022, estimated that it had received life insurance […]

    Putting Retirement Portfolios to Work to Produce Income

    {July 16th, 2024} by Roger Wohlner

    With over 10,000 people turning 65 each day in the United States, generating a dependable retirement income stream is a top priority for financial advisors and their clients. At the recent Morningstar Investment Conference, held for the first time at Chicago’s Navy Pier, one of the sessions was a panel discussion on retirement savings needs […]

    UBS Fined $850K Over Rep’s Sale Of Unapproved Annuities Via Wire Transfers

    {July 16th, 2024} by Tracey Longo

    The Financial Industry Regulatory Authority has censured UBS and fined the bank $850,000 for failing to supervise a registered representative’s sale of unapproved annuities offered by his college friend and business acquaintance. Finra alleged in its disciplinary letter, released Monday, that UBS failed to create a “reasonably designed” supervisory system to monitor the transfer of customer funds to […]

    Five Ways Annuities Can Help Secure Your Retirement

    {July 16th, 2024} by Kevin Nuss

    MEDFORD, OR / ACCESSWIRE / July 9, 2024 / Here are five ways annuities help people save for retirement and then enjoy a financially secure future once they are retired, according to retirement-income expert Ken Nuss, CEO of AnnuityAdvantage. 1. Your nonqualified savings grow faster with the help of tax deferral–hard to achieve except in an annuity. Nonqualified savings […]

    Update: Annuities Versus The Four Percent Rule Of Thumb

    {July 16th, 2024} by Charlie Gipple, CFP, CLU, ChFC

    The following analysis on GLWBs versus the Four Percent Rule has been updated to today’s GLWB offerings. I recently saw somebody write about how we should not compare annuities to the four percent rule. Although I agree that there needs to be additional disclosures and education in the annuity part of the conversation, I disagree […]

    Whole Life Flexibility And Case Design (Part 1 Of 3)

    {July 16th, 2024} by Charlie Gipple, CFP, CLU, ChFC

    I always get the question, “Which product do you like best, whole life insurance or indexed universal life insurance?” That’s a lot like asking me which of my two boys is my favorite. Each of them has their own strengths and each of them has their weaknesses. However, my 14-year-old is overly hormonal right now, so I […]

    Osaic Revamps Retirement Income Planning Tools

    {July 16th, 2024} by John Manganaro

    Osaic, formerly Advisor Group, is partnering with IncomeConductor to launch two enhanced versions of its retirement income planning system, dubbed NextPhase Pro and NextPhase Plus. Some 600 advisors currently use the original NextPhase solution with their clients, according to the firm. Click HERE to read the full story via Think Advisor

    AM Best Revises Outlooks to Positive for GBU Financial Life

    {July 16th, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of GBU Financial Life (GBU) (Pittsburgh, PA). The Credit Ratings (ratings) reflect GBU’s balance sheet strength, which AM Best assesses as strong, as well as its […]

    Security Benefit’s “RIA Economic Outlook Index” finds that advisor optimism around inflation is slipping

    {July 16th, 2024} by Security Benefit

    TOPEKA, Kan.–(BUSINESS WIRE)–While Registered Investment Advisors (RIAs) report a similar level of economic confidence compared to the first quarter of the year, nearly half now believe that stock market volatility will be higher over the next 12 months than it was in 2023, according to the Second Quarter Economic Outlook Index released today by Security […]

    Senior Market Sales® White Paper: Solving Retirement Crisis Requires New Industry Thinking, Solutions

    {July 16th, 2024} by Senior Market Sales

    OMAHA, Neb., July 15, 2024 /PRNewswire/ — To successfully navigate the mounting challenges in the retirement planning industry, insurance agents and financial advisors must rethink traditional planning paradigms, practices and even their own roles, a new white paper by Senior Market Sales® (SMS) asserts. “The Retirement Planning Mind Shift: New Thinking for Growth in a New Era” examines the […]

    New SEC RILA Rules: Implementation Issues and Practical Considerations

    {July 16th, 2024} by Carlton Fields

    On July 1, 2024, the Securities and Exchange Commission (SEC) announced new rules for registered index-linked annuities (RILAs) and registered market-value adjustment annuities (MVAs). The new rules will significantly impact existing RILA and MVA issuers, as well as insurers that may have been waiting in the wings for these rules before venturing into the RILA space. The […]

    Nationwide names next leader for annuity business

    {July 16th, 2024} by Leo Alamazora

    Around three months after the president of its annuity business announced plans to retire at the end of the year, Nationwide has found a suitable successor to the role. Click HERE to read the full story via InvestmentsNews

    Integrity Marketing Group expands into wealth management

    {July 16th, 2024} by Susan Rupe

    Integrity Marketing Group has expanded into the wealth management realm with the launch of its wealth management division, Integrity Wealth. Craig Walling, a financial industry veteran with more than 30 years of experience, was named Integrity Wealth’s president. With more than $46 billion in assets under management and advisement and an extensive network of wealth […]

    Verisk rolls out index for actuarial risk pattern analysis

    {July 16th, 2024} by Global Data

    Data analytics and technology provider Verisk has unveiled the ISO Experience Index, a new tool designed to modernise risk pattern analysis for actuaries in the insurance sector. The index is a response to the growing volatility and scale of loss patterns, offering a contemporary and timely indicator of underwriting experience. This tool aims to provide […]

    House committee votes to prohibit DOL spending on fiduciary rule

    {July 16th, 2024} by Staff Reports

    A House committee today approved a budget rider today that would prevent the Department of Labor from spending any funds to implement its fiduciary rule. The House Appropriations Committee voted 31-25 to send the Fiscal Year 2025 Labor, Health and Human Services, Education, and Related Agencies bill to the House floor. The bill is expected […]

    Nassau Annuity sponsors USAT Collegiate Conference, USAT NYS High School and Age Group Championships

    {July 16th, 2024} by Gary

    Hartford, Connecticut-based investment firm Nassau Annuity has returned as the swim partner for the USAT Collegiate Conference Championship and Long Course Triathlon hosted by the TOUGHMAN Triathlon. The event takes place on September 14-15, 2024, at Lake Welch in Harriman State Park, Stony Point, NY. This year, the USAT Collegiate Conference, High School, and NYS Championship is […]

    FSI, SIFMA join federal lawsuit to overturn DOL fiduciary rule

    {July 16th, 2024} by Doug Bailey

    The Financial Services Institute (FSI) and the Securities Industry and Financial Markets Association (SIFMA) have joined a federal lawsuit that seeks to overturn a recently finalized Department of Labor rule that broadens the definition of a “fiduciary” and, according to the plaintiffs, endangers investors’ access to essential advice and education. The legal complaint asserts that […]

    The Future Of Life Insurance Underwriting: Embracing AI And Data

    {July 16th, 2024} by Ken Leibow

    As many of you know from my previous articles, I attend numerous life insurance and insurtech conferences each year—typically around 15-20 events. At these conferences, I engage with leading software solution providers who offer platforms for carriers, distributors, insurance and financial advisors. AI has become a prevalent topic in both general and breakout sessions, with […]

    Brighthouse Financial Inc. (NASDAQ: BHF) Highlighted for Surprising Price Action

    {July 16th, 2024} by IBN

    Brighthouse Financial, Inc. (NASDAQ: BHF) has caught the attention of the investment community today with its bullish price action. The company’s shares have moved 4.76% on the day to $45.81. Brighthouse Financial, Inc. provides annuity and life insurance products in the United States. It operates through three segments: Annuities, Life, and Run-off. The Annuities segment offers variable, fixed, index-linked, and […]

    Trusted Fraternal Life announces second merger in three months

    {July 16th, 2024} by Press Release

    Milwaukee, WI (July 10, 2024) – Trusted Fraternal Life, a Milwaukee-based fraternal life insurance organization, is pleased to announce its second merger in three months. Catholic United Financial, headquartered in Arden Hills, Minnesota, intends to join the Trusted Fraternal Life family of brands, which was established by Catholic Financial Life earlier this year. The merger marks […]

    ‘Stupid, stupid, stupid:’ Former Georgia insurance commissioner gets 3.5 years in prison

    {July 16th, 2024} by INN Insider News

    Former Georgia insurance commissioner and gubernatorial candidate John Oxendine was sentenced Friday to 3.5 years in prison in a federal case accusing him of taking part in a $3 million health care fraud scheme. He told an Atlanta judge that his actions were“ stupid, stupid, stupid.”. Click HERE to read the full story via INN […]

    The Fiduciary Rules Are Changing for Advisors. What Investors Need to Know.

    {July 16th, 2024} by Lisa Scherzer

    If you buy an annuity in a rollover individual retirement account a few months from now, you might get a better deal on it. That’s because your insurance agent will be required to act as a fiduciary in your best interest. It’s just one of the changes in a new Department of Labor rule set […]

    Lincoln takes $300k fine over VUL marketing arrangement

    {July 16th, 2024} by Leo Alamazora

    Finra has imposed a $300,000 fine on Lincoln Financial Distributors, Lincoln’s wholesale distribution franchise, for making transaction-based compensation payments to an unregistered entity. Click HERE to read the full story via InvestmentNews

    New Rollover Reality Set To Kick In

    {July 16th, 2024} by Rich Blake

    Following various attempts over the years to redefine what it means to have a fiduciary role when touching investors’ retirement assets, the U.S. Department of Labor (DOL) recently announced some new rules that, once again, aim to take the bar higher. As a result, a large swath of advisors will find themselves beholden to a […]

    Maybe I can get that message to Grandpa’s wife, before it is too late for her children.

    {July 10th, 2024} by Sheryl J. Moore

    I was out of the office attending the funeral of my husband’s grandfather. It was my first funeral since my son took his life. That will be 11 years ago this month. Grandpa Lasnek lived 89 years. He had eight children, countless grandchildren, and even a few great-grandchildren. By all measures, he lived a long […]

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

    {July 10th, 2024} by National Western Life Group, Inc.

    AUSTIN, Texas, July 9, 2024 /PRNewswire/ — National Western Life Group, Inc. (“National Western” or the “Company”), and Prosperity Life Group (“Prosperity Life Group”) today announced the closing of the previously announced acquisition of National Western by Prosperity Life Group company S. USA Life Insurance Company, Inc. (“SUSA”). At the closing, SUSA acquired National Western in an […]

    Symetra Introduces SwiftProtector(SM)

    {July 10th, 2024} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company today announced the launch of Symetra SwiftProtectorSM, a protection-focused indexed universal life insurance product with a new, streamlined, and fully-automated digital online process — from application through illustrations and policy delivery — that can offer coverage in as little as 25 minutes to qualified applicants. “We are excited to […]

    NAIC urged to address issues related to use of AI in insurance

    {July 10th, 2024} by Rayne Morgan

    A host of consumer advocates and organizations have brought new concerns to the attention of the National Association of Insurance Commissioners’ Innovation, Cybersecurity, and Technology (H) Committee, urging them to address matters of how insurers are using AI even as regulations are still under development. At a recent NAIC meeting, advocates presented on three specific […]

    Judge to decide if whistleblower can proceed with Globe Life lawsuit

    {July 10th, 2024} by John Hilton

    A Michigan judge will decide whether an ex-Globe Life executive turned whistleblower can proceed with his lawsuit for wrongful termination. Scott Dehning claims that Globe Life and subsidiary American Income Life Insurance Co. fired him in May 2023 after he reported “a clear practice of unethical and potentially illegal business practices” to Michigan regulators. Defendants filed for […]

    Private equity driving activity in insurance sector despite ‘lackluster’ deals market

    {July 10th, 2024} by Rayne Morgan

    Increasing interest from private equity is expected to support steady activity in the insurance deals market, during a time when other sectors are not experiencing comparable volume, according to PwC’s 2024 Midyear Outlook Report. Private equity involvement in insurance books through acquisition, reinsurance and sidecar vehicles in the life insurance and annuity sector in particular […]

    New York Life Aims for Your Executive Clients’ Retirement Money

    {July 10th, 2024} by Allison Bell

    New York Life wants to help more top executives save for retirement. The company has hired Joe Grieco to head distribution for efforts to use corporate-owned life insurance to fund small non-qualified deferred compensation programs. He will market the program to registered investment advisors as well as through other channels. Click HERE to read the […]

    Why Pru, TIAA and State Street Put $5M Into Micruity’s Annuity Platform

    {July 10th, 2024} by John Manganaro

    Building scalable retirement income solutions requires the development of flexible technologies that create a seamless way for data and information to flow across the full defined contribution plan ecosystem. In the past, such interconnectivity was an illusive goal, according to Micruity founder and CEO Trevor Gary, primarily due to asset managers, recordkeepers, insurers and other key service […]

    House Panel to Vote on Resolution to Kill DOL Fiduciary Rule

    {July 10th, 2024} by Melanie Waddell

    The House Education and Workforce Committee has scheduled for Wednesday a vote on a Congressional Review Act resolution to disapprove the Labor Department’s new fiduciary rule, according to a notice on the committee’s website. The Insured Retirement Institute, which calls the rule an “attempt to impose a one-size-fits-all fiduciary standard on virtually all financial professionals who sell retirement products,” said that it […]

    Life and Annuity Tech Firm IMS Reports Breach Affected 6.1M People

    {July 10th, 2024} by Allison Bell

    Infosystem McCamish Systems and customers reported in the spring that a fall ransomware attack on IMS systems had affected about 108,000 financial services company customers. IMS hired an outside company to help it investigate the attack, and it now believes the attack may have affected the records of about 6.1 million people. Click HERE to […]

    Brighthouse Financial Announces Conference Call to Discuss Second Quarter 2024 Results

    {July 10th, 2024} 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, 2024, at 8:00 a.m. Eastern Time on Thursday, August 8, 2024. The call will follow the issuance of the Brighthouse Financial […]

    Americans with a financial advisor expect to retire two years earlier according to Northwestern Mutual’s Planning & Progress Study

    {July 10th, 2024} by Northwestern Mutual

    MILWAUKEE, July 9, 2024 /PRNewswire/ — Americans who work with a financial advisor expect to retire two years earlier and feel significantly more confident about their financial preparedness for the future. The impact of financial advice from an expert advisor is evident even among wealthy Americans – and it’s especially apparent among Black and African Americans. These […]

    AM Best Revises Outlooks to Positive for EquiTrust Life Insurance Company

    {July 10th, 2024} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of EquiTrust Life Insurance Company (EquiTrust) (headquartered in Chicago, IL). The Credit Ratings (ratings) reflect EquiTrust’s balance sheet strength, which AM Best assesses as adequate, as […]

    AM Best Affirms Credit Ratings of New York Life Insurance Company and Its Subsidiaries

    {July 10th, 2024} 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 ICRs) of “aaa” (Exceptional) of New York Life Insurance Company, New York Life Insurance and Annuity Corporation (NYLIAC), Life Insurance Company of North America (LINA), New York Life Group Insurance Company of NY (NYLGICNY) and NYLIFE […]

    Fidelity National Financial Releases 2023 Sustainability Report

    {July 10th, 2024} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., July 8, 2024 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“FNF” or the “Company”), today published its 2023 Sustainability Report. The report details notable highlights from the past year for FNF’s sustainability program. Mike Nolan, Chief Executive Officer of FNF, commented, “I am pleased to announce the publication of our fifth annual sustainability report, which demonstrates […]

    How Interest Rates Affect Annuities

    {July 10th, 2024} by David Rodeck

    Annuities base their returns on market interest rates. Given that rates were recently at their highest level since 2001, conditions over-all are favorable for buying an annuity. But higher rates benefit some products more than others. Here, we look at how higher interest rates impact different types of annuities.  Click HERE to read the full story […]

    New SEC RILA Rules Accentuate the Negative, Commissioner Says

    {July 10th, 2024} by Allison Bell

    The new U.S. Securities and Exchange Commission regulations for registered index-linked annuities and another product, market-value-adjusted annuities, reflect anti-RILA bias, according to SEC Commissioner Hester Peirce. The SEC announced Monday that it has completed regulations that will let life insurers register RILAs and MVA contracts on the relatively simple SEC Form N-4, rather than using the […]

    Retirees spend twice as much when they have guaranteed income, research finds

    {July 10th, 2024} by Emile Hallez

    Guaranteed income sources like Social Security, pension assets, and annuities give people a “license” to spend more in retirement, new research found. Click HERE to read the full story via InvestmentNews   Wink’s Moore on the Market: Illuminating! “A survey that was part of the research found that nearly 60 percent of respondents said they […]

    Here’s How Much Money It Takes to Feel Financially Secure: Survey

    {July 10th, 2024} by Michael S. Fisher

    Three-quarters of Americans say they do not feel financially secure, up from 72% who said this last year, Bankrate reported Monday.  Respondents said they would need an annual salary of $186,000 to feel secure — more than twice the median income of $79,209.   Bankrate’s report is based on an online survey it commissioned YouGov Plc to conduct in […]

    GE sued over $1.7 billion pension risk transfer

    {July 10th, 2024} by Emile Hallez

    The company is the latest among several large companies sued over similar practices this year, all of which made pension risk transfers to Athene Annuity and Life Co. Click HERE to read the full story via InvestmentNews

    Lincoln Financial Group Shares Insights Into Investors’ Mindsets Through Its Quarterly Overview of Market Trends

    {July 10th, 2024} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Today, Lincoln Financial Group (NYSE: LNC) released its quarterly edition of Market Intel Exchange, a comprehensive analysis of market trends and themes currently on the minds of investors, curated from the company’s investment expertise and industry-leading asset management partnerships. In conjunction with the Market Intel Exchange, Jayson Bronchetti, Chief Investment Officer, shares a high-level […]

    Prudential Financial Data Breach Impacts 2.5 Million

    {July 10th, 2024} by Ionut Arghire

    The insurance giant initially disclosed the data breach in February in a filing with the US Securities and Exchange Commission, and announced in late March that more than 36,000 individuals might have been affected. In an incident notice update filed with the Maine Attorney General’s Office last week, Prudential said that the incident resulted in the data of 2,556,210 individuals being […]

    Corebridge Financial Renames Direct-to-Consumer Life Insurance Business from AIG Direct to Corebridge Direct

    {July 10th, 2024} by Corebridge Financial, Inc

    HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (NYSE: CRBG) today announced the name change of its long-standing direct-to-consumer life insurance business from AIG Direct to Corebridge Direct. Corebridge Direct offers a simple and convenient approach to help people find life insurance that works for them. Individuals can directly secure coverage by starting online at corebridgedirect.com or by calling the quote […]

    Getting to know our Chief of Techie Stuff

    {July 9th, 2024} by Wink's Intel Pros

    Wink’s CTO, Vince Lozada is one of three Wink employees that worked with our CEO over 20 years ago. He actively serves as a Bible study leader, camping enthusiast, AND a killer Java Technical Lead and once taught German and Italian software sales engineers (in the auto industry) how to use the software while speaking […]

    Happy 4th of July!

    {July 3rd, 2024} by Wink's Intel Pros

    Wink will be closed July 4th and 5th for an extended holiday.

    The Bermuda Triangle’s 1980s Roots

    {July 3rd, 2024} by Kerry Pechter

    The resemblances between today’s Bermuda Triangle strategy and the business model that Executive Life used in the years leading up to its record-breaking bankruptcy in 1991 are too many and too striking to be chalked up to coincidence, confirmation bias, or hindsight. Click HERE to read the full story via RIJ

    SEC finalizes rule altering registration of index-linked annuities

    {July 3rd, 2024} by Courtney Degen

    The SEC finalized a rule that will create a tailored registration form for registered index-linked annuities, or RILAs. “Sales of RILAs reached approximately $47.4 billion in 2023 alone, more than quintupling since 2017,” SEC Chair Gary Gensler said in a news release July 1. “It is important that investors receive the information they need — […]

    Bermuda Shorts

    {July 3rd, 2024} by Kerry Pechter

    Nassau Financial gets $200 million from Golub Capital; AM Best affirms ratings of Aspida Group, backed by Ares Mgt; 3M swaps its $2.5bn DB pension for a MetLife group annuity; Bermuda-based Apex Group sells $1.1 bn of payment-in-kind notes to Carlyle and Goldman Sachs; Oceanview establishes reinsurer in Cayman Islands; Bermuda Triangle insurer receives ‘negative’ […]

    Offshore Regulatory Arbitrage by US Insurers Explained

    {July 3rd, 2024} by Kerry Pechter

    “Regulatory arbitrage” has been cited by RIJ and others as a reason for the use of Bermuda reinsurance private equity-led U.S. life/annuity companies. But what does that jargonish expression mean in this context? Indeed, it would take an expert in international accounting rules to explain it accurately. https://retirementincomejournal.com/article/bermuda-triangle-arbitrage-explained-by-moodys/

    SEC to Let Insurers Register RILAs on a Simpler Form

    {July 3rd, 2024} by Allison Bell

    The U.S. Securities and Exchange Commission has adopted a final rule that will let annuity issuers register market-value-adjusted and registered index-linked annuities on a much simpler form. The new SEC rule means that issuers of RILAs and MVA contracts can create new products using the same relatively short SEC Form N-4 that issuers of traditional variable annuities typically […]

    Pru, TIAA, State Street Put $5M in 401(k) Plan Annuity Tech Firm

    {July 3rd, 2024} by Allison Bell

    Micruity is moving ahead with efforts to build a new nervous system for retirement services providers with new backing from some giant financial firms. The company has raised an additional $5 million to expand support for annuities and other income planning tools to its Micruity Advanced Routing System, it announced Tuesday. Click HERE to read the […]

    Finseca: Keep Your Budget Cool This Summer – Tips for Financial Security

    {July 3rd, 2024} by Finseca

    WASHINGTON, July 2, 2024 /PRNewswire/ — Summer is heating up, but that doesn’t mean your budget has to. With exciting activities and outdoor festivities come extra expenses that might catch you off guard. Summer is often the second most expensive season, primarily due to increased vacation and travel costs. However, with a bit of foresight, you can enjoy […]

    Royal Neighbors of America® reports a record $31.2 million in social good impact for communities

    {July 3rd, 2024} by Royal Neighbors of America

    ROCK ISLAND, Ill., June 27, 2024 /PRNewswire/ — Royal Neighbors of America, a nonprofit life insurance organization has reported a record $31.2 million in Social Good impact. This achievement exemplifies Royal Neighbors’ commitment to providing Insurance with a Difference℠ as they continue to prioritize their mission of Insuring Lives, Supporting Women, and Serving Communities℠. The organization assesses its social impact each year by measuring […]

    Lincoln Financial Group to Report 2024 Second Quarter Results on August 1

    {July 3rd, 2024} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) announced today that it will report its results for the second quarter ended June 30, 2024 at 6:00 a.m. Eastern Time on Thursday, August 1, 2024. A conference call is scheduled for 8:00 a.m. Eastern Time on the same day. Earnings materials, including the 2024 second quarter Earnings Release, […]

    Jackson to Report Second Quarter 2024 Financial Results

    {July 3rd, 2024} 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, 2024, after market close Wednesday, August 7, 2024. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Thursday, August 8, 2024, at 10 a.m. ET to review […]

    3 reasons for RILAs’ growing popularity

    {July 3rd, 2024} by Susan Rupe

    Since they entered the marketplace in 2010, registered index-linked annuities have become the fastest growing category of annuities. RILA sales surpassed variable annuity sales for the first time in the fourth quarter of 2023, LIMRA reported. Momentum for RILAs is expected to grow, given that RILAs provide investors with a level of protection coupled with […]

    Oceanview Expands Global Reinsurance Operations with New Cayman Islands Subsidiary, Oceanview Secure Reinsurance Ltd., offering Global Reach and Tailored Solutions

    {July 3rd, 2024} by Oceanview Holdings, Ltd

    GRAND CAYMAN, Cayman Islands–(BUSINESS WIRE)–Oceanview Holdings Ltd. (Oceanview), a prominent provider of annuities and reinsurance solutions, today announced the establishment of its new subsidiary, Oceanview Secure Reinsurance Ltd., in the Cayman Islands. This strategic expansion strengthens Oceanview’s ability to deliver innovative reinsurance solutions globally. Oceanview Secure Reinsurance Ltd. has been awarded a Class D Insurer’s […]

    Making the most of National Insurance Awareness Day

    {July 3rd, 2024} by Ayo Mseka

    Friday, June 28, is National Insurance Awareness Day, when agents and advisors can remind their clients and prospects about the numerous benefits of insurance, share information about the many insurance solutions available, and promote a culture of preparing for many of life’s uncertainties. “The relationships that agents are able to build with their clients are […]

    Insurers, A.M. Best reach preliminary settlement in financial ratings case

    {July 3rd, 2024} by Doug Bailey

    The parties in a case accusing the credit rating agency A.M. Best of unfairly downgrading a pair of life insurers have reached a preliminary settlement, according to a letter filed with the court. Atlantic Coast Life Insurance and Sentinel Security Life Insurance want to stop A.M. Best from downgrading their financial strength ratings, which would […]

    Experts warn insurance industry to buckle up for AI regulation, litigation

    {July 3rd, 2024} by Rayne Morgan

    With litigation related to the use of artificial intelligence expected to increase, industry experts are strongly recommending American insurance companies to prepare themselves before that reality takes hold. “Given our litigious society, it’s just a fact of life that, as an insurance company, if you’re going to be using AI, you’re going to be, unfortunately, […]

    401(k) Annuities Still A Hard Sell Despite SECURE Act, Advisors Say

    {July 3rd, 2024} by Ben Mattlin

    In 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act made it easier for defined-contribution retirement plans such as 401(k)s to offer annuities. Nearly five years later, though, the results are mixed, according to advisors. “We are still not seeing much adoption,” said Wei Hu at Edelman Financial Engines in Santa Clara, Calif. […]

    I don’t believe in investing in anything I don’t understand.

    {July 3rd, 2024} by Sheryl J. Moore

    I just watched “Dumb Money,” at the prompting of one of my followers. I have to be honest with you. I have never purchased stocks. Why? I don’t believe in investing in anything I don’t understand. Now, don’t get me wrong- I am diversified. I have other investments with equity exposure. But this movie has […]

    Imagine giving your clients PEACE OF MIND!

    {July 3rd, 2024} by Sheryl J. Moore

    My friend Michael Finke indicates that those with annuities spend more freely than those without. Imagine giving your clients PEACE OF MIND! Click HERE to check out his latest post which begins  with”Will a retiree with $500,000 in a savings account spend as much as a retiree who has a $35,000 pension? Our findings were […]

    Finra bars two ex-Raymond James advisors who sold unapproved products

    {July 3rd, 2024} by Bruce Kelly

    Two Raymond James Financial Services Inc. financial advisors on Monday were barred from the securities industry for not cooperating in investigations, according to the Financial Industry Regulatory Authority Inc.; both had previously been flagged by Raymond James for selling products to customers the firm had not signed off on as well as selling away, which involves […]

    I Called Dave Ramsey About 8% – Dave’s Rant EXPLODES!

    {July 3rd, 2024} by HopeFilled Financial Coaching

    This is my reaction to the call I made to the Ramsey Show Live on November 2nd, 2023. This is the call that broke X (Twitter) with over 4M Views. This isn’t near all the context that you will want to know about. A lot happened leading up to this call. Subscribe if you don’t […]

    Suze Orman Says Indexed Universal Life Insurance Is a ‘Horrific’ Investment That Will Get You In Trouble — ‘I Am Begging You Not To Do Them’

    {July 3rd, 2024} by Jeannine Mancini

    Financial guru Suze Orman has consistently and emphatically cautioned against indexed universal life insurance (IUL) policies, characterizing them as “horrific” and fraught with potential financial pitfalls. Click HERE to read the full story via Yahoo! Finance   Wink’s Moore on the Market: Suze Orman has her sights set on indexed life now. Reading this, I am in […]

    SIFMA, FSI Join Suit to Strike Down DOL Fiduciary Rule

    {July 3rd, 2024} by Melanie Waddell

    The Securities Industry and Financial Markets Association along with the Financial Services Institute filed a complaint Friday against the Labor Department’s new fiduciary rule, asking the U.S. District Court for the Northern District of Texas court to vacate the rule. SIFMA and FSI have joined via a plaintiff-intervenors’ complaint the suit filed on May 24 by nine insurance industry trade […]

    Statement on the Registration for Index-Linked Annuities and Registered Market-Value Adjustment Annuities

    {July 3rd, 2024} by Commissioner Mark T. Uyeda

    July 1, 2024 While the universe of securities is broad, the Securities Act of 1933 (“Securities Act”) generally requires that any offer or sale of a security to the public be registered with the Commission. For that reason, the Commission should take steps to ensure that registration statement disclosure is material and informative to prospective […]

    RILA Re-Form: Statement on Registration for Index-Linked Annuities and Registered Market-Value Adjustment Annuities; Amendments to Form N-4 for Index-Linked Annuities, Registered Market-Value Adjustment Annuities, and Variable Annuities

    {July 3rd, 2024} by Commissioner Hester M. Peirce

    July 1, 2024 In the last few years, the Commission’s staff has often had to complete rulemakings on tight deadlines. Even with aggressive time constraints, the staff succeeded admirably in meeting the congressional mandate to provide a tailored form to register the offerings of registered index-linked annuities (“RILAs”). [1]  I support the Commission’s general approach to implementing […]

    Statement on RILAs and Registered MVA Annuities

    {July 3rd, 2024} by Chair Gary Gensler

    July 1, 2024 Today, the Commission adopted amendments to provide a tailored form to register the offerings of registered index-linked annuities (“RILAs”) and registered market value adjustment annuities (“registered MVA annuities”). I am pleased to support this adoption because it fulfills the congressional mandate to adopt a registration form specific to RILAs. RILAs are a […]

    Calamos Structured ETFs: An alternative to FIAs

    {July 3rd, 2024} by Kerry Pechter

    There are non-insurance alternatives to fixed indexed annuities (FIAs) as savings vehicles For cautious who want to eliminate all risk of investment loss on part of their portfolio but fear “missing-out” on a stock market rally, there’s a non-insurance solution. Click HERE to read the full story via RIJ   Wink’s Moore on the Market: […]

    DOL Lets Pension Risk Transfer Rules Stand – For Now

    {July 3rd, 2024} by Kerry Pechter

    The Department of Labor has decided not to shake up the regulatory foundation of the “pension risk transfer” (PRT) business—the replacement of defined benefit pensions by group annuities issued by life insurers—by amending its 30-year-old Interpretative Bulletin 95-1. Click HERE to read the full story via RIJ

    What Recordkeepers Think about 401(k) Annuities

    {July 3rd, 2024} by Kerry Pechter

    When we talk or write about embedding payout options in 401(k) plans—annuities, systematic withdrawal processes, etc.—the role of recordkeepers doesn’t always get as much attention as the roles of plan sponsors, plan advisers, life/annuity companies, asset managers or participants. Click HERE to read the full story via RIJ

    These 10 Variable Annuity Carriers Watched $61B Flee Their Products Last Year

    {July 3rd, 2024} by Warren S. Hersch

    Variable annuity carriers that have developed RILAs are “okay with a shift in sales mix to these products,” Wink CEO Sheryl Moore speculated, “given that most of them do not have living benefits riders on them, which are more difficult to price for.” Click HERE to read the full story via Life Annuity Specialist

    RILAs take off as consumers look for balance, protection

    {July 3rd, 2024} by Teodor Panaitisor

    As more Americans retire without the backstop of a pension, the individual annuity market is stepping up to provide the ability to layer on protection and security to an investor’s portfolio. Registered index-linked annuities were first introduced in 2010 following the financial crisis of 2008-2009. However, RILA sales didn’t really take off until more than […]

    Morningstar Investment Conference 2024: From AI Investing to Annuities

    {July 3rd, 2024} by Laura Lallos

    Summer in Chicago means excursions to Navy Pier for boat tours, outdoor dining, and rides on the iconic Ferris wheel—and this year, the annual Morningstar Investment Conference on June 26 and 27, 2024. Each year, investors and advisors head to Chicago for Morningstar’s signature research and analysis, as well as insights from thought leaders across the industry. […]

    SEC updates annuity disclosure rules for RILAs, MVAs

    {July 3rd, 2024} by Leo Alamazora

    The SEC has unveiled new disclosure requirements and registration processes for registered index-linked annuities and registered market value adjustment annuities as it hopes to provide investors with clearer and more specific information about the products. Click HERE to read the full story via InvestmentNews

    20 insurers with the largest annuity market share

    {July 3rd, 2024} by Digital Insurance Staff

    The top five insurance companies in the ranking have an average annuity market share of 5.82% as of December 31, 2023. The combined direct premiums written by the top five were more than $145 billion. Scroll through to see which insurance companies are in the top 20 and how they fared through the end of December 2023. Source: National Association of Insurance […]