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  • Announces New Accelerated Underwriting Capabilities to Reimagine the Client Experience

    {November 20th, 2019} by Northwestern Mutual

    MILWAUKEE, Nov. 19, 2019 /PRNewswire/ — To create a more integrated and seamless experience for its clients, Northwestern Mutual is leveraging technology and innovation to help more Americans achieve financial security. Through advanced analytics and predictive modeling, Northwestern Mutual announced that it has recently rolled out an accelerated underwriting process for disability insurance product applications, a technology the […]

    Nineteen Facts That Illuminate Women’s Retirement Risks

    {November 20th, 2019} by Transamerica Center for Retirement Studies

    LOS ANGELES, Nov. 14, 2019 /PRNewswire/ — Only 12 percent of women workers are “very” confident that they will be able to fully retire with a comfortable lifestyle, according to 19 Facts About Women’s Retirement Outlook, a new study released today by nonprofit Transamerica Center for Retirement Studies® (TCRS). “Today’s women are better educated and enjoy career opportunities that were unimaginable […]

    NAIC Panel Splits On Requiring New Illustration Rules For Old Policies

    {November 20th, 2019} by John Hilton

    A significant split opened up this week on applying tightened indexed universal life insurance illustration rules to in-force policies. A National Association of Insurance Commissioners’ subgroup is still working through the details, but has a mandate to clamp down on multipliers and bonuses that critics say enable insurers to get around Actuarial Guideline 49, approved […]

    Penn Mutual’s Possibilities Podcast: An Industry Expert’s Take on Today’s Changing Product Landscape

    {November 20th, 2019} by Penn Mutual

    Industry expert Sheryl J. Moore discusses how regulatory changes and trends such as leveraged indexed products are changing the life insurance and annuity marketplace — and why more than ever — advisers should steer clear of illustration-based selling and invest more time in educating clients and strengthening relationships. Click HERE to listen. Sheryl J. Moore […]

    North American Company for Life and Health Insurance Announces Protection Builder Indexed Universal Life Product

    {November 20th, 2019} by North American Company for Life and Health Insurance

    WEST DES MOINES, Iowa, Nov. 18, 2019 (GLOBE NEWSWIRE) — North American Company for Life and Health Insurance® (North American), a member of Sammons® Financial Group, Inc.  (SFG) and one of America’s leading insurance companies, today announced the launch of its Protection Builder Indexed Universal Life (IUL) insurance product. The product combines guaranteed death benefit protection1; cash value growth potential; […]

    Midland National Life Insurance Company Announces Strategic Protector Indexed Universal Life Product

    {November 20th, 2019} by Midland National Life Insurance Company

    WEST DES MOINES, Iowa, Nov. 18, 2019 (GLOBE NEWSWIRE) — Midland National® Life Insurance Company (Midland National), a member of Sammons® Financial Group, Inc.  (SFG) and one of America’s leading insurance companies, today announced the launch of its Strategic Protector Indexed Universal Life (IUL) insurance product. The product combines guaranteed death benefit protection1; cash value growth potential; an accelerated death benefit […]

    Eagle Life Announces New Income Product

    {November 20th, 2019} by Eagle Life Insurance Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Eagle Life Insurance Company®, a leading annuity provider that specializes in safe, innovative retirement options, announces the addition of a new income-focused fixed index annuity product. The Eagle Select™ Income Focus is designed for clients who desire safety of principal, growth potential and an income stream that cannot be outlived. The […]

    HONORING OUTSTANDING WOMEN IN THE FINANCIAL ADVICE INDUSTRY

    {November 20th, 2019} by InvestmentNews

    InvestmentNews is recognizing female financial advisers and industry leaders who are advancing the advice business through their passion, creativity, intellect and willingness to help other women along the way. Click HERE to view the winners.

    Gender investing gap costs women in the long run, Krawcheck says

    {November 20th, 2019} by Bruce Kelly

    The most common — and potentially costly — mistake women make with money is that they fail to invest enough of it, according to Wall Street veteran Sallie Krawcheck. Click HERE to read the full story via InvestmentNews.

    Brian Williams Honored as 2019 Bo Johnson Spirit Award for Lifetime Achievement Winner

    {November 20th, 2019} by NAFA

    WASHINGTON (Nov. 18, 2019) — NAFA, the National Association for Fixed Annuities, announced Brian Williams, Co-Chief Executive Officer of Financial Independence Group, as the winner of its 2019 Bo Johnson Spirit Award for Lifetime Achievement. The award recognizes courage, spirit and determination that challenges the status quo, inspires others to achieve, contributes unselfishly to others, […]

    AIG names head of multinational for General Insurance

    {November 20th, 2019} by Ryan Smith

    American International Group (AIG) has announced the appointment of Allison Barrett as global head of multinational, General Insurance. Barrett will join the company Dec. 09 and will report to Michael Price, head of global service businesses and global chief operating officer for General Insurance. In her new role, Barrett will drive the execution of General […]

    Majority of Americans Plan to Continue Working in Retirement

    {November 20th, 2019} by TD Ameritrade

    OMAHA, Neb.–(BUSINESS WIRE)–Employees age 65 and older currently make up the fastest-growing segment of the American workforce1. In fact, according to a new survey conducted by The Harris Poll on behalf of TD Ameritrade, the majority of Americans age 40 and older plan to continue working in a paid position after retiring. Often with a longer lifespan […]

    The Guardian Life Insurance Company of America Names Andrew McMahon President

    {November 20th, 2019} by The Guardian Life Insurance Company of America

    NEW YORK, Nov. 14, 2019 /PRNewswire/ — The Guardian Life Insurance Company of America announced today that Andrew McMahon, an industry veteran and head of the company’s largest business, has been elected President by its Board of Directors. Mr. McMahon’s appointment is part of Guardian’s regular succession planning process and is effective January 1, 2020.  He will continue to […]

    National Western Life Selects Equisoft to Accelerate its Growth Strategy

    {November 20th, 2019} by Equisoft

    PHILADELPHIA, Nov. 18, 2019 /PRNewswire/ – Equisoft, a leading global provider of digital business solutions for the insurance and wealth industries, announced today that it has been selected by National Western Life Insurance Company to replace its core legacy policy administration system to support its digital growth initiatives. As part of this modernization project, Equisoft will implement […]

    Complaint claims Ohio National poses ‘danger’ due to its ‘illegal’ activity

    {November 20th, 2019} by Greg Iacurci

    An insurance agent filed a complaint Friday with the Ohio Department of Insurance against Ohio National Life Insurance Co., alleging that the insurer’s treatment of a customer’s insurance premiums broke the law and that three senior executives tried to “cover up” the activity after it was reported internally. Click HERE to read the full story […]

    Investors Reap Windfall From Former Hartford Financial Unit

    {November 20th, 2019} by Juliet Chung and Leslie Scism

    Several wealthy families and investment firms have received an early $700 million payout from a once-troubled unit of Hartford Financial Services Group Inc. HIG 0.19% that has enjoyed a remarkable turnaround since the financial crisis. The investors, which include the family offices of former hedge-fund manager Timothy Barakett and of Hyatt Hotels Corp. H 1.06% […]

    Ohio National, Foes Seek Stay of Texas Trail Commission Case Until Parallel Ohio Lawsuit Resolved

    {November 20th, 2019} by Greg Land

    In the midst of multiple lawsuits accusing Ohio National Life Insurance of improperly cutting off trail commissions to brokers and agents selling its variable annuities, a Texas brokerage and the insurer have asked a federal judge to stay litigation there until a parallel lawsuit in Ohio can proceed. The filing comes after U.S. District Judge Susan Dlott of the […]

    Can We Tolerate Millions of Elderly People Living in Cars?

    {November 20th, 2019} by Allison Bell

    Dr. Joanne Lynn last week warned members of Congress that enormous misery is coming, in about 10 years, if the country fails to improve support programs for the elderly. Lynn, a geriatrician, is the head of the long-term services and supports (LTSS) team at Altarum, an Ann Arbor, Michigan-based health policy research center. She’s the […]

    Fidelity to Add USAA Income Annuity

    {November 20th, 2019} by Allison Bell

    Fidelity Investments has added a single-premium immediate annuity (SPIA) from USAA Life Insurance Company to the income annuity menu at its Fidelity Insurance Network program. A SPIA contract gives the purchaser a way to convert one big payment into a stream of income payments that starts right away. The typical purchaser is a newly retired […]

    World Regulator Group May Let U.S. Have Its Own Capital Standards

    {November 20th, 2019} by Allison Bell

    An international insurance regulator group today adopted a capital standards approach that horrifies U.S. life insurers — but it said it might let the United States and other countries use an alternative promoted by the U.S. Chamber of Commerce. The International Association of Insurance Supervisors (IAIS) approved the Insurance Capital Standard Version 2.0 standard at the […]

    New Annuity Starts Lifetime Income Stream at Age 91 or Later

    {November 20th, 2019} by Allison Bell

    Haven Life Insurance Agency is offering a new defense against longevity risk: a deferred income annuity contract with benefits that start when the annuitant is at least 91 years old. Haven Life — a web-based agency arm of Massachusetts Life Insurance Company — is aiming the AgeUp annuity contract at working-age adults who want to protect their […]

    North Dakota Commissioner Might Be the World’s Tallest Politician

    {November 20th, 2019} by Allison Bell

    Jon Godfread, the North Dakota insurance commissioner, might the “world’s tallest male politician.” Godfread announced Tuesday that Guinness World Records has certified him as having that status, based on measurements recorded in Bismarck, North Dakota, Oct. 4. Guinness World Records states on its website that Godfread is 6 feet 10 inches tall, or 210.767 centimers […]

    States and Feds Split on Major World Insurance Standards Deal

    {November 20th, 2019} by Allison Bell

    The National Association of Insurance Commissioners (NAIC) says it likes the deal “Team USA” negotiators have hammered out with the International Association of Insurance Supervisors (IAIS) over how the world’s financial services regulators will supervise insurer financial strength. The U.S. Treasury Department’s Federal Insurance Office (FIO) says it’s already filed an official objection to the newly approved […]

    Tech Firm Aims to Help U.S. Life Insurers Do More With Their Data

    {November 20th, 2019} by Allison Bell

    A data analysis firm is making a major push to win clients in the U.S. life insurance sector. The company, SparkBeyond Ltd., has put out a white paper describing, in general terms, what its artificial intelligence-based research engine system has done for insurance industry clients, including life insurance company clients. SparkBeyond says for example, that […]

    Kentucky Department of Insurance Moving to New Offices

    {November 20th, 2019} by Allison Bell

    The Kentucky Department of Insurance is moving to new offices in a new building starting next week. The department is heading to the Mayo-Underwood Building, a new state office building at 500 Mero St. in Frankfort, Ky. The department has been located at 215 W. Main St. in Frankfort. The department will be devoting Nov. 26 […]

    Insurers Are Very Careful Nonbank Lenders: Economists

    {November 20th, 2019} by Allison Bell

    Insurers may be a bad alternative for corporate borrowers who think bankers are bunch of boring old fuddy-duddies. Insurers are very careful lenders themselves, and the maturities of their loans tend to be much longer, according to three economists who have studied nonbank lending. The economists — Sergey Chernenko of Purdue University, Isil Erel of Ohio State University, […]

    Many Caregivers Try to Keep It Secret: Northwestern Mutual

    {November 20th, 2019} by Allison Bell

    The workplace may have another taboo topic: Being a decent, responsible person who takes care of aging parents or other adults with disabilities. Analysts at Northwestern Mutual have raised that possibility in a new slice of data from a poll the company organized earlier this year. The sample included 1,400 Americans ages 18 or older […]

    American Equity Unit Adds Indexed Annuity

    {November 20th, 2019} by Allison Bell

    An arm of American Equity Investment Life Insurance Company has added an indexed annuity aimed at clients who want to protect their income against longevity risk. Eagle Life Insurance Company has filed the new Eagle Select Income Focus contract as a non-variable product. The product is part of an existing family of Eagle Select indexed annuities. Eagle Life […]

    New annuity aimed at adult children of aging parents

    {November 20th, 2019} by Insurance Forums Staff

    One-third of 65-year-olds will likely live past 90, but many are underfunded for that long a life span and their families are often not prepared to cover the gap. That’s why Haven Life Insurance Agency, MassMutual’s in-house startup, just introduced AgeUp, a new product designed to provide financial protection for the adult children of the boomer […]

    Ameriprise Adds 2 Advisors From LPL

    {November 20th, 2019} by Jeff Berman

    Ameriprise Financial’s franchise channel picked up First American Financial, a team of advisors based in Marlton, New Jersey, from LPL Financial. Advisors Bill Eldridge and Don Delmonte lead the team at First American and manage about $158 million in assets, Ameriprise said Thursday. The First American team also includes client service associates Denise Cherry, Lyn McCracken and […]

    Millennials Understand Fixed Income Better Than Do Older Investors: Survey

    {November 20th, 2019} by Michael S. Fischer

    Millennials have a slightly better grasp than older investors of the role fixed income plays in retirement planning and how the asset class responds to market cycles, according to a study released Monday by BNY Mellon Investment Management. Asked by pollsters when average investors should consider adding fixed income to their investment portfolios, 36% of millennials said […]

    SEC Chairman Wants to Know: ‘Have We Preserved Choice’ in Reg BI?

    {November 20th, 2019} by Melanie Waddell

    The Securities and Exchange Commission “really encourages engagement” as the agency implements Regulation Best Interest, the agency’s Chairman, Jay Clayton, said Tuesday. “I want to know: Have we preserved choice?” Clayton said during a question-and-answer session at the Securities Industry and Financial Markets Association’s annual conference in Washington. “Choice in a way that provides investors […]

    Hearsay Systems Launches New Compliance Consulting Arm

    {November 20th, 2019} by Melanie Waddell

    Hearsay Systems said Friday that it has launched a new consulting practice, Hearsay Compliance Advisory Services, to help financial services firms comply with industry regulations like the Securities and Exchange Commission’s Regulation Best Interest and the Financial Industry Regulatory Authority’s recently enacted Advertising Rule 2210. “As new technologies permeate the financial services industry, compliance issues […]

    Secure Act ‘Unlikely to Move Forward’ This Year: Sen. Cardin

    {November 20th, 2019} by Melanie Waddell

    While senators remain hopeful that the Setting Every Community Up for Retirement Enhancement (Secure) Act will get passed this year, “we don’t know whether it will finally make it to the finish line,” Sen. Ben Cardin, D-Md., said Wednesday. Speaking at the AICPA National Tax Conference in Washington, Cardin said that the Secure Act “includes some […]

    Prudential Shares Indexed Annuity Risk With Reinsurer

    {November 20th, 2019} by Allison Bell

    A unit of Prudential Financial Inc. is turning to a reinsurer in Bermuda to help it power its indexed annuity business. Prudential Annuities Life Assurance Corp. has agreed to share some of the risks, and rewards, associated with newly sold indexed annuity contracts with Somerset Reinsurance Ltd. Prudential Annuities and Somerset Re have entered into a […]

    Insurer lures young annuity buyers by invoking parents’ financial woes

    {November 20th, 2019} by Greg Iacurci

    Massachusetts Mutual Life Insurance Co. is banking on attracting a swath of younger annuity customers by citing the threat of their parents’ financial insecurity in old age. Click HERE to read the full story via InvestmentNews.

    Buffer annuities push variable annuity sales to three-year high in Q3

    {November 20th, 2019} by Greg Iacurci

    Variable annuity sales hit a three-year high in the third quarter, a notable turnaround from their slump in recent years that largely reflects the growing sales of buffer [structured] annuities. Click HERE to read the full story via InvestmentNews.           Wink’s Note: Wink’s Sales & Market Report, 3rd Quarter, 2019 will be published prior […]

    RetireOne Acquires Edelman Financial’s Broker-Dealer Unit

    {November 20th, 2019} by Allison Bell

    RetireOne — a distributor of fee-based annuities and life insurance policies — has acquired a broker-dealer business from an arm of Ric Edelman’s company, Edelman Financial Engines L.P. Edelman Financial is selling only the EF Legacy Securities broker-dealer unit. Edelman Financial itself is still operating as a financial planning and investment advisory firm in Sunnyvale, California. RetireOne bought the broker-dealer […]

    Ohio National to pay $213,000 to insurance agent for breaching contract

    {November 20th, 2019} by Greg Iacurci

    A jury awarded $213,000 in damages to an insurance agent formerly employed by Ohio National Life Insurance Co. after finding that the insurer breached the recruiting agreements it had in place with the agent.   Click HERE to read the full story via InvestmentNews.  

    The NAIC May Talk to FINRA About You

    {November 20th, 2019} by Allison Bell

    The National Association of Insurance Commissioners (NAIC) is working out an arrangement to share financial professional licensing information with the Financial Industry Regulatory Authority (FINRA). A third group, the National Association of Insurance and Financial Advisors (NAIFA), says it would like to weigh in if the NAIC-FINRA information-sharing relationship expands. The NAIC is a Kansas […]

    Sales of Variable Indexed Annuities Shine

    {November 20th, 2019} by Allison Bell

    Sales of indexed annuities that are registered with the U.S. Securities and Exchange Commission as securities soared in the third quarter, and that helped push sales of U.S. individual annuities over zero. Analysts at the LIMRA Secure Retirement Institute have published the new quarterly sales figures for the variable indexed [structured] annuities, which they call […]

    Nearly $320,000, Maserati and Silverado seized from Black Harbor firm’s founder and wife

    {November 19th, 2019} by Kirk Brown and Carol Motsinger

    Federal authorities have seized nearly $320,000 and two vehicles from Black Harbor Wealth Management founder Chris Dixon and his wife in connection with a criminal case highlighted in Indebted, the yearlong investigation by The Greenville News into the buying and selling of military benefits. Black Harbor has offices in Greenville and Seneca, South Carolina, and Asheville, North […]

    Allianz partners with Microsoft to digitally transform the insurance industry

    {November 19th, 2019} by The Allianz Group

    MUNICH and REDMOND, Wash., Nov. 14, 2019 /PRNewswire/ — On Thursday, Allianz SE and Microsoft Corp. announced a strategic partnership focused on digitally transforming the insurance industry, making the insurance process easier while creating a better experience for insurance companies and their customers. Through the strategic partnership, Allianz will move core pieces of its global insurance platform, Allianz Business […]

    Life Insurance Needs in Less than a Minute

    {November 19th, 2019} by Chris Kite

    If you could present an accurate needs analysis in less than a minute, would you sell more life insurance? I once presented at a Life Office Management Association (LOMA) conference to illustrate how quickly you can get a dynamic look at a client’s life insurance needs using a simple multiple of income method. It can […]

    Edward Jones loses court fight to restrain former broker

    {November 19th, 2019} by Bruce Kelly

    A federal judge in Indianapolis has denied Edward Jones’ motion for a temporary restraining order against a former broker who joined a competing firm, and in a stinging rebuke, said the broker-dealer seemed more interested in teaching him a lesson than in preventing the loss of clients. Click HERE to read the full story via InvestmentNews.

    LPL backs off lucrative recruiting deal

    {November 19th, 2019} by Bruce Kelly

    LPL Financial is dialing back on a lucrative recruiting offer, reducing the transition assistance package by at least 20% to potential recruits, according to a memo sent this week to recruiters. Click HERE to read the full story via InvestmentNews.

    FINRA Floats Limit on Brokers as Beneficiaries

    {November 13th, 2019} by Melanie Waddell

    The Financial Industry Regulatory Authority is seeking feedback on a new rule proposal that would limit any associated person of a broker-dealer from being named a beneficiary, executor or trustee, or to have a power of attorney or similar position of trust on behalf of a customer. “Most of the firms we talk to — […]

    Life, annuity providers becoming more customer-centric, less producer-focused, J.D. Power finds

    {November 13th, 2019} by Insurance Forums Staff

    Individual life insurance and annuity providers have begun the process of shifting their approach from producer-focused to end-customer-focused by introducing more online access capabilities and more frequent customer touch points, according to the recently released J.D. Power 2019 U.S. Life Insurance Study. But they still have a long way to go to catch up to […]

    NAIFA Announces Partnership with InsurTech Express

    {November 13th, 2019} by NAIFA

    The National Association of Insurance and Financial Advisors (NAIFA) named InsurTech Express to its list of supporters of its Limited & Extended Care Planning Center (LECP). The LECP is NAIFA’s initiative to bring together a variety of entities that offer products and services that showcase the continuum of options for limited, extended and long-term care needs. The announcement […]

    Five Questions to Ask about an Annuity Issuer

    {November 13th, 2019} by Editorial Staff

    We asked Louis Harvey, president and CEO of DALBAR, the financial services research firm, what advisers should think about when choosing an annuity issuer. Here’s what he said: “There are five areas we think of as the important for providers of retail annuity products. The first area concerns the product itself; its construction and restrictions and […]

    Half Of Consumers Think Life Insurance Not Relevant: AALU Survey

    {November 13th, 2019} by Susan Rupe

    Life insurance isn’t selling like it used to, and one industry organization wants to find out why. The Association for Advanced Life Underwriting is undertaking a year-long initiative aimed at the root cause of why the consumer “protection gap” continues to grow. That root cause? Consumer relevance. The protection gap is a persistent problem, the […]

    How to Choose an Annuity Issuer

    {November 13th, 2019} by Kerry Pechter

    When you shop for a new car, what are your criteria? The manufacturer’s reputation? The model or style of the vehicle? Its main function or purpose in your life? The proximity of the dealer? Or maybe you already have a specific automobile in mind. Your inquiries wouldn’t stop there. You’ll want to know, for instance, […]

    Here Are 4 Planning Situations When Annuities Make Sense

    {November 13th, 2019} by John L. Olsen and Michael E. Kitces

    As advisors who often talk about annuities to financial advisors, we are often asked whether we “like” annuities. To that question, our standard answer is that we neither like nor dislike them—because they’re just tools, which work well in certain circumstances and do not work well in others. Occasionally, that response will elicit what may […]

    Lincoln Financial Group Named to Forbes JUST 100 as the #1 Insurance Company for Customers

    {November 13th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) has been named to the Forbes JUST 100 list – an annual ranking conducted by nonprofit organization JUST Capital in partnership with Forbes Magazine. The JUST 100 names the top 100 publicly-traded companies in America that are delivering on the issues that matter most to consumers – such as worker and customer […]

    AM Best Downgrades Credit Ratings of PHL Variable Insurance Company, Revises Outlooks to Negative for Nassau Financial Group, L.P.’s Insurance Subsidiaries

    {November 13th, 2019} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from B+ (Good) and the Long Term Issuer Credit Rating (Long-Term ICR) to “bb” from “bbb-” of PHL Variable Insurance Company (PHL). The outlook of these Credit Ratings (ratings) has been revised to negative from stable. Concurrently AM Best also has revised […]

    Horace Mann Reports Third-Quarter 2019 Net Income of $0.60 Per Share and Core Earnings* of $0.64 Per Share

    {November 13th, 2019} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the quarter ended September 30, 2019: “This is the first quarter that National Teachers Associates (NTA) is included in our results as the Supplemental segment, contributing $0.16 per share to earnings. Concurrently, we have significantly reduced our interest-spread risk in our Retirement segment […]

    American Equity Reports Third Quarter 2019 Results

    {November 13th, 2019} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs), today reported third quarter 2019 net income of $37.4 million, or $0.41 per diluted common share, compared to net income of $169.3 million, or $1.85 per diluted common share, for third quarter 2018. Non-GAAP operating […]

    Kansas City Life Announces Third Quarter 2019 Results

    {November 13th, 2019} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., Nov. 12, 2019 /PRNewswire/ — Kansas City Life Insurance Company recorded net income of $4.5 million or $0.47 per share in the third quarter of 2019, a decrease of $1.8 million or $0.17 per share compared to the third quarter of 2018.  Net income totaled $13.8 million or $1.43 per share in the first nine months of 2019, up from $11.8 million or $1.22 per share in the first nine months of 2018.  […]

    LifeMark Partners and BRAMCO Financial Resources Unite to Form LIBRA Insurance Partners

    {November 13th, 2019} by LIBRA Insurance Partners

    BALTIMORE, Nov. 7, 2019 /PRNewswire/ — LifeMark Partners and BRAMCO Financial Resources have joined forces to create LIBRA Insurance Partners (LIBRA), a life insurance marketing organization with more than 60 affiliated partner agencies. The new firm is dedicated to serving independent insurance producers, brokers and financial institutions with life, annuity and linked benefit insurance distribution, with projected […]

    Transamerica and MIT AgeLab Spotlight the Prevalence of Caregiving, Need for New Conversations

    {November 13th, 2019} by Transamerica

    BALTIMORE, Nov. 12, 2019 /PRNewswire/ — Transamerica and the Massachusetts Institute of Technology (MIT) AgeLab sheds light today on the challenges and costs of caregiving in the United States during a day-long symposium in Cambridge, Mass. The meeting, titled New Conversations for a New Challenge: Caregiving in the 21st Century, brings together some of the brightest minds in academia, medicine and financial planning to […]

    Nationwide Express Gives Agents Power to Quote Multiple Products in as little as 2 Minutes

    {November 13th, 2019} by Nationwide

    COLUMBUS, Ohio, Nov. 12, 2019 /PRNewswire/ — In an increasingly competitive environment, high-performing insurance agents know tools that allow them to work faster and more efficiently will enhance the experience for their clients and free up time to focus on growing their business. To meet agents’ need for speed, Nationwide is introducing Nationwide Express, an innovative new technology platform […]

    Prudential Financial, Inc. and Somerset Re Form Reinsurance Relationship

    {November 13th, 2019} by Somerset Reinsurance Ltd.

    PEMBROKE, Bermuda, Nov. 12, 2019 /PRNewswire/ — Somerset Reinsurance Ltd. (“Somerset”), a leading provider of reinsurance solutions to the U.S. life insurance and annuity market, has executed a new business flow reinsurance treaty with Prudential Annuities Life Assurance Corporation (“PALAC”), a  subsidiary of Prudential Financial (“PFI”)(NYSE: PRU). Under the terms of the treaty, Somerset will reinsure a quota share […]

    Why annuities could be an especially good deal for women

    {November 13th, 2019} by Paola Peralta

    Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about. Why annuities could be an especially good deal for women Women save less but live longer than men, making fixed annuities a good strategy to secure their retirement, writes an expert in Kiplinger. The products, he writes, provides guaranteed […]

    IALC Launches Last Video in “Game Ready” Three-Part Series

    {November 13th, 2019} by Indexed Annuity Leadership Council

    WASHINGTON, Nov. 12, 2019 /PRNewswire/ — To help jump-start retirement planning, the Indexed Annuity Leadership Council (IALC) has released the last video in a three-part series designed to educate Americans about being ready for life after work. Titled “Family Ready,” the final video highlights the importance of spending time with the people you love in retirement. This video is part of […]

    National Western Life Group, Inc. Announces 2019 Third Quarter Earnings

    {November 13th, 2019} by National Western Life Group, Inc.

    AUSTIN, Texas, Nov. 7, 2019 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today third quarter 2019 consolidated net earnings of $20.0 million, or $5.65 per diluted Class A common share, compared with consolidated net earnings of $35.6 million, or $10.08 per diluted Class A common share, for the third […]

    Honoring Advisors Who Serve(d): Veterans Day, 2019

    {November 13th, 2019} by Ronald Pechtimaldjian

    This is ThinkAdvisor’s annual version of the Advisors Who Serve(d) compilation, and this year we highlight the stories, told in their own words, of 14 veterans in the advisory world. You may recognize some of the advisors as they were also on Memorial Day’s version; for this version we added three new advisors. Advisors Who […]

    Who Will Win The Battle For the Dashboard?

    {November 13th, 2019} by Steve Morelli

    Ask Doug Massey why it has been so difficult to create seamless and effective insurance technology and he will take you on an Uber ride from hell — metaphorically speaking, of course Massey knows all about the ride because his career has followed the route of insurance tech itself in the early 1990s, when he […]

    In Search Of A Unicorn: Tech Investors Turn To Life Insurance

    {November 13th, 2019} by Nelson Lee

    Every few years, tech investors and startups will label a new industry “hot,” and insurtech is steaming. The insurtech industry is continuing to deliver record-setting funding rounds, as well as historic highs in overall venture investments into the sector. This is a big contrast from as recent as five years ago, when boring old insurance […]

    State insurance commissioners closing in on stronger standard for annuity sales

    {November 13th, 2019} by Mark Schoeff Jr.

    State insurance regulators are closing in on a final rule to strengthen the investment-advice standard related to annuity sales, but a critic says the standard falls short of the best-interest protection provided in New York. Click HERE to read the full story via InvestmentNews.

    NAILBA Attendance Up – And So Are The Challenges

    {November 13th, 2019} by Steve Morelli

    DALLAS – The association representing life brokerage agencies opens its annual conference’s first full day with some wind in its sails as it pushes into a challenging future. The National Association of Independent Life Brokerage Agencies had 825 registrants as of Monday, with another 50 to 75 expected to walk in, said Dan LaBert, NAILBA’s CEO. […]

    Advisor Group’s new IBD giant is leveraged on network appeal

    {November 13th, 2019} by Tobias Salinger

    Two major IBD networks are joining forces against the largest firms in the space. Nearly a year after cashing out its former principal shareholder, Ladenburg Thalmann found a buyer building a new giant of the independent broker-dealer sector. The buyer, Advisor Group, is also assembling more debt under its latest massive private equity deal. Reverence […]

    SEC’s Variable Annuity Prospectus Rule Likely by April

    {November 13th, 2019} by Melanie Waddell

    The Securities and Exchange Commission’s Division of Investment Management hopes to release its rule for a variable annuity summary prospectus by April 2020, according to IM Director Dalia Blass. The SEC in mid-February extended by one month, to March 15, the comment period for its proposed rulemaking on a long-awaited VA summary prospectus. The plan, […]

    AIG Life & Retirement to Put Its Annuities on FIDx Exchange

    {November 13th, 2019} by Allison Bell

    The U.S. life arm of American International Group Inc. has agreed to offer annuities through the Fiduciary Exchange LLC (FIDx) Insurance Exchange system. AIG Life & Retirement will put fixed, indexed and variable annuities on the Insurance Exchange, according to FIDx. Todd Solash, the chief executive officer of AIG Life & Retirement’s individual retirement unit, […]

    Older Consumers Keep Submitting More Life Applications: MIB

    {November 13th, 2019} by Allison Bell

    Consumers ages 60 and older continued to keep the U.S. life insurance market growing in October. Individual life application activity was 1.4% higher last month than in October 2018, according to MIB Group Inc. The year-over-year growth was down from 1.9% in September. The Index MIB is a Braintree, Massachusetts-based consortium that helps U.S. and […]

    Life Distributor Event to Feature an RIA Panel

    {November 13th, 2019} by Allison Bell

    Independent life insurance distributors want to know more about what’s in the minds of registered investment advisors. The National Association of Independent Life Brokerage Agencies (NAILBA) has responded by adding a session on working with RIAs to the agenda for its 38th annual meeting NAILBA started the three-day meeting today in Grapevine, Texas. Grapevine is […]

    Two Big Life and Annuity Distributors Combine

    {November 13th, 2019} by Allison Bell

    LifeMark Partners is combining its operations with those of another large insurance marketing organization, Bramco Financial Resources, the companies announced today. William Shelow has been the president of LifeMark Partners, which has been based in Linthicum Heights, Md. Michael Hefferon has been the chief executive officer of Bramco, which was based in Richmond, Texas. The new IMO […]

    9 Things to Know About a New Regulator Group That Might Like You

    {November 13th, 2019} by Allison Bell

    A new state insurance regulator panel, the Retirement Security Working Group, is set to have its first public conference call meeting at 1 p.m. Eastern Daylight Time Wednesday. The working group is part of the National Association of Insurance Commissioners’ Life Insurance and Annuities Committee. The working group is supposed to “explore ways to promote […]

    Annuity Group’s Third Video Focuses on ‘Family Readiness’

    {November 13th, 2019} by Allison Bell

    The Indexed Annuity Leadership Committee (IALC) is promoting the third video in its indexed annuity video series. The new video, “Family Ready,” focuses on the idea that people who use indexed annuities to prepare for retirement income needs may have more time to spend with loved ones. “Don’t just be ready for retirement,” a narrator […]

    9 Things to Know About a New Regulator Group That Might Like You

    {November 13th, 2019} by Allison Bell

    A new state insurance regulator panel, the Retirement Security Working Group, is set to have its first public conference call meeting at 1 p.m. Eastern Daylight Time Wednesday. The working group is part of the National Association of Insurance Commissioners’ Life Insurance and Annuities Committee. The working group is supposed to “explore ways to promote […]

    IRS Posts Annuity Fee Letter Rulings

    {November 13th, 2019} by Allison Bell

    The IRS rulings will let nine life insurers — and only those nine life insurers — offer customers a cheaper, easier process for paying fees to annuity advisors, when the customers hold the annuities outside of retirement arrangements that qualify for special IRS tax treatment. The insurers can now pay advisory fees directly to the […]

    Positive Signals in AIG’s Noisy Quarter

    {November 13th, 2019} by Telis Demos

    Some key indicators at American International Group Inc. are pointing in the right direction. To be clear, the insurance giant missed Wall Street’s expectations for the third quarter—by a lot—with an adjusted earnings per share profit of 56 cents versus the $1 expected. The miss was driven largely by a mix of items such as an […]

    Apollo to Buy More of Athene as Insurer Eliminates Supervoting Structure

    {November 13th, 2019} by Miriam Gottfried and Dave Sebastian

    Apollo Global Management Inc. APO 1.11% is buying an additional 18% stake in insurance company Athene Holding Ltd. ATH 1.26% as part of a complex deal that will eliminate the private-equity firm’s supervoting power with the insurer. Athene will take a 7% stake in Apollo and will convert to a single-class share structure, with one share equaling one vote, from the existing multiclass share […]

    Europe Wants Your Annuity

    {November 13th, 2019} by The Editorial Board

    America’s state-based insurance regime has protected policy holders while fostering competition and product diversity. Europe’s insurance system—like much else on the Continent—is sclerotic due to excessive regulation. Now the pooh-bahs in Brussels are trying to undermine America’s federalist system. The International Association of Insurance Supervisors (IAIS) on Wednesday plans to vote on a new global […]

    After rivals change hands, Ladenburg reportedly weighing sale By Tobias Salinger

    {November 13th, 2019} by Tobias Salinger

    The Ladenburg Thalmann network of five independent broker-dealers with 4,400 financial advisors is reportedly weighing whether to be the next major wealth management firm to go up for sale. Ladenburg has tapped an advisory team to seek bids for the Miami-based firm, but company executives haven’t made a final decision, people familiar with the matter […]

    WealthVest Announces Leslie Grant Assumes Marketing Consultant Position

    {November 13th, 2019} by WealthVest

    WealthVest continues to grow its team of wholesalers by hiring Leslie Grant, who will cover the Illinois, Iowa, Minnesota and Wisconsin territories, helping advisors with retirement planning utilizing fixed and fixed index annuities. WealthVest demonstrates traditional face-to-face wholesaling as the #1 independently owned distributor of fixed and fixed index annuities in financial institutions. Leslie Grant […]

    Mississippi Commissioner Returns for Fourth Term

    {November 13th, 2019} by Allison Bell

    Mike Chaney — a Republican who has been serving as the insurance commissioner in Mississippi — easily won re-election Tuesday. Chaney defeated the Democratic candidate, Robert Amos, with 61.5% of the votes cast, according to data compiled by the Clarion Ledger. Tate Reeves, the Republican candidate for governor, won with just 52.2% of the votes cast […]

    Many Wealthy Investors Are Missing An Advisor

    {November 12th, 2019} by Karen DeMasters

    About one fourth of people with more than $1 million in investable assets do not work with a financial advisor, but market volatility could push them to do so, according to a study by Nationwide Advisory Solutions. Twenty-seven percent of high-net-worth investors with $1 million to $5 million in investable assets and 22% of ultra-high-net-worth […]

    Why Millennials Lie to Their FAs

    {November 12th, 2019} by Alex Padalka

    Financial advisors working with millennials may need to probe a little deeper to make sure they get the full picture from their clients because close to a third of millennials lie about their finances, according to a recent report. Thirty percent of affluent millennials say they have lied about their spending or investing either to […]

    Lincoln Financial Group Rings Closing Bell to Mark 50th Anniversary of Trading on the New York Stock Exchange

    {November 12th, 2019} by Lincoln Financial Group

    NEW YORK–(BUSINESS WIRE)–Today, Lincoln Financial Group (NYSE: LNC) executives led by president and CEO Dennis Glass rang the closing bell at the New York Stock Exchange to commemorate the 50th anniversary of Lincoln’s listing on the exchange. Since being listed in 1969, the company has grown into one of the largest publicly-traded life insurance companies in […]

    Securian Financial Again Named “Top Company for Women Technologists”

    {November 12th, 2019} by Securian Financial

    ST. PAUL, Minn.–(BUSINESS WIRE)–For the second consecutive year, Securian Financial is a “Top Company for Women Technologists” according to AnitaB.org, a nonprofit social enterprise committed to increasing the representation of women technologists in the global workforce. AnitaB.org recently recognized Securian Financial and 75 other companies representing more than 143,000 women technologists as part of the […]

    FGL Holdings Reports Third Quarter 2019 Results and Declares Common Stock Dividend

    {November 12th, 2019} by FGL Holdings

    GEORGE TOWN, Cayman Islands, Nov. 6, 2019 /PRNewswire/ — FGL Holdings (NYSE: FG), a leading provider of annuities and life insurance, today announced financial results for the third quarter of 2019. Net income available to common shareholders for the third quarter of 2019 was $58 million, or $0.26 per diluted common share, compared to net income for the third quarter of 2018 […]

    10 Reasons An Annuity Might Make Sense For You

    {November 12th, 2019} by Robert Chapman, AIF

    The world of investing has gotten more complex as the years have gone on. The flood of new products and investing strategies continues to evolve with time. Whether age-based target funds, long/short mutual funds, market-weighted ETFs, structured products, or equity indexed annuities, there’s been no shortage of creativity around the financial industry. One of the […]

    Northwestern Mutual To Pay Policyowners Largest Ever, Industry-Leading $6 Billion Dividend Payout

    {November 6th, 2019} by Northwestern Mutual

    MILWAUKEE, Oct. 31, 2019 /PRNewswire/ — Northwestern Mutual announced today that its policyowners will receive an estimated $6 billion through the company’s 2020 dividend payout. This is expected to both lead the insurance industry and be the highest in the company’s history. The company credits this record payout as a result of its careful business management – keeping expenses low, ensuring […]

    CNO Financial Group Reports Third Quarter 2019 Results

    {November 6th, 2019} by CNO Financial Group, Inc.

    CARMEL, Ind., Nov. 5, 2019 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ending September 30, 2019, net income was $0.27 per diluted share, compared to a net loss of $3.22 per diluted share in 3Q18.  CNO also reported that 3Q19 net operating income (1) was $0.45 per diluted share, compared to $0.52 in 3Q18 (as adjusted to remove the earnings from […]

    Lincoln Financial Group Reports Third Quarter 2019 Results and Announces Increase to Dividend

    {November 6th, 2019} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported a net loss for the third quarter of 2019 of $161 million, or $(0.83) per diluted share available to common stockholders, compared to net income in the third quarter of 2018 of $490 million, or $2.24 per diluted share available to common stockholders. Third quarter adjusted […]

    AM Best Affirms Credit Ratings of Jackson National Life Insurance Company and Its Affiliates

    {November 6th, 2019} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of Jackson National Life Insurance Company (JNL), its wholly owned subsidiary, Jackson National Life Insurance Company of New York, and its direct parent, Brooke Life Insurance Company. These companies collectively are referred to […]

    Pacific Life Foundation Grants Life Lessons Scholarships During Life Insurance Awareness Month

    {November 6th, 2019} by The Pacific Life Foundation

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–The Pacific Life Foundation (the Foundation) has sponsored five $15,000 scholarships through Life Happens (www.LifeHappens.org) and its annual Life Lessons Scholarship Program, to aid the financial burden for students who have lost a parent without life insurance. In honor of Life Insurance Awareness Month in September, the scholarships were awarded to students […]

    FBL Financial Group Reports Third Quarter 2019 Results

    {November 6th, 2019} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG): Financial Highlights (Dollars in thousands, except per share data)   Three months ended September 30,   2019   2018 Net income attributable to FBL Financial Group $ 25,129   $ 31,010 Adjusted operating income(1) 25,215   31,872 Earnings per common share (assuming dilution):     […]

    Brighthouse Financial Announces Third Quarter 2019 Results

    {November 6th, 2019} by Brighthouse Financial

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the third quarter ended September 30, 2019. Third Quarter 2019 Results The company reported net income available to shareholders of $676 million in the third quarter of 2019, or $6.06 per diluted share, compared with a net […]

    Prudential Financial, Inc. Announces Third Quarter 2019 Results

    {November 6th, 2019} by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE:PRU) today reported third quarter results. Net income attributable to Prudential Financial, Inc. was $1.418 billion ($3.44 per Common share) for the third quarter of 2019, compared to $1.672 billion ($3.90 per Common share) for the third quarter of 2018. After-tax adjusted operating income was $1.329 billion ($3.22 per Common […]

    Athene Holding Ltd. Reports Third Quarter 2019 Results

    {November 6th, 2019} by Athene Holding, Ltd.

    PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd. (“Athene”) (NYSE: ATH), a leading provider of retirement savings products, announced financial results for the third quarter 2019. Net income available to AHL common shareholders for the third quarter 2019 was $276 million, or $1.50 per diluted Class A common share (“diluted share”), compared to net income available to AHL common […]

    Life Insurance and Annuity Providers Are More Customer-Centric but Gaps Remain, J.D. Power Finds

    {November 6th, 2019} by J.D. Power

    COSTA MESA, Calif.–(BUSINESS WIRE)–Individual life insurance and annuity providers have begun the process of shifting their approach from producer focused to end-customer focused by introducing more online access capabilities and more frequent customer touch points, but they still have a long way to go to catch up to providers in other financial services and insurance […]

    Insurance Regulators May Approve ‘Best-Interest’ Annuity Rule By Yearend

    {November 6th, 2019} by Tracey Longo

    After years of debate, the National Association of Insurance Commissioners appears poised to approve a “best interest” annuities sales standard by the end of the year. Up until now, insurance regulators have used a “suitability” standard–similar to Finra’s– to regulate annuities sales. The new “best interest model,” which is being finalized by NAIC committees in […]

    SEC Issues Plan to Modernize RIA Ad Rules

    {November 6th, 2019} by Melanie Waddell

    The Securities and Exchange Commission has proposed updates to its Advertising Rule that would let advisors use testimonials, endorsements and third-party ratings to solicit clients, subject to certain conditions. The reforms also include tailored requirements for the presentation of performance results, based on an ad’s intended audience. “The advertising and solicitation rules provide important protections […]

    SEC proposes allowing advisers to use testimonials, endorsements in ads

    {November 6th, 2019} by Mark Schoeff Jr.

    The Securities and Exchange Commission has proposed revising its advertising rules for investment advisers for the first time in nearly 60 years, allowing them to post testimonials, endorsements and third-party ratings on social media. Click HERE to read the full story via InvestmentNews.

    The Future Of Wholesaling Is At A Crisis Point

    {November 6th, 2019} by John Hilton

    As the insurance industry goes through a revolution of sorts, the future of wholesaling is somewhat in doubt. Can those middlemen and women adapt to the new insurance order, complete with regulatory and technological pressures? The industry pressures start with technology integration and regulatory changes, but how those things shake up the distribution channels is […]

    5 Ways Life Insurance Eases Post-Divorce Estate Planning

    {November 6th, 2019} by Trey Reynolds

    With nearly half of all marriages ending in divorce, it’s not uncommon to have clients who are either going through divorce proceedings, living as a single parent after a divorce, or have been married more than once – with or without stepchildren. Divorce is emotionally draining, and on top of that, the challenges divorce brings […]

    Handling Sensitive Consumer Data Is A Tricky Issue

    {November 6th, 2019} by John Hilton

    BOSTON — How insurers treat sensitive consumer data is a tricky issue for regulators and lawmakers. Iowa Insurance Commissioner Doug Ommen conceded “there is a lot of concern among some regulators that the data that is finding its way” into the wrong hands. Ommen was part of a discussion on the future of financial services […]

    NAIC Commissioners Racing The Clock To Finish Annuity Sales Model

    {November 6th, 2019} by John Hilton

    A National Association of Insurance Commissioners’ working group has one final meeting to finish its annuity sales rule, which would create a best-interest framework for states to consider adopting. The Annuity Suitability Working Group will hold a two-hour conference call Tuesday that could run longer if that’s what it takes to finish, an NAIC official […]

    NAIC Panel Whacks IUL Illustrations; Industry Calls Time Out

    {November 6th, 2019} by John Hilton

    State insurance regulators are trying to crack down on wayward indexed universal life insurance illustrations via an amendment to Actuarial Guideline 49. The tentative change — which still needs final approval — would bar IUL illustrations with bonuses or multipliers from illustrating higher than IUL products without these features. The Life Actuarial Task Force held […]

    NAIC Urged To Do Full Review Of Illustrations; Regulators Demur

    {November 6th, 2019} by John Hilton

    Insurance commissioners tabled a proposal today to create a working group with a charge aimed at completing a comprehensive and coordinated review of annuity and life insurance illustrations. Birny Birnbaum, executive director of the Center for Economic Justice, is proposing a Life Insurance and Annuity Illustration Working Group. The new group would take the place […]

    Ladenburg Thalmann Exploring Sale: Report

    {November 6th, 2019} by Janet Levaux

    Ladenburg Thalmann, which owns a group of independent broker-dealers with about 4,500 advisors, is considering its ownership options, according to Bloomberg News. The firm’s IBDs are Securities America, Triad Advisors, Investacorp, Securities Service Network and KMS Financial Services. “As a matter of corporate policy, we don’t comment on market rumors or speculation,” CEO Richard Lampen […]

    The Industry’s Struggle to Prioritize Insurance

    {November 6th, 2019} by Rich Blake

    Whenever bank and credit union advisory unit leaders gather to compare notes, there are a few topics that always come up. Compensation schemes and recruiting are two examples. Another conversational evergreen is how to sell more life insurance. Insurance product sales have ebbed downward in recent years, but the retirement and risk management needs of […]

    Finra To Test Members’ Readiness For Reg BI

    {November 6th, 2019} by Tracey Longo

    The Financial Industry Regulatory Authority plans to begin Regulation Best Interest “preparedness reviews” of broker-dealers starting in November. That’s according to William St. Louis, Finra’s northeast regional director for sales practice, who said the agency will stress-test firms’ Reg BI readiness starting next month. “Obviously, we want to see where firms stand,” he told broker-dealer […]

    SEC’s Clayton Warns Brokers to ‘Be Ready’ for New Conflict Rule

    {November 6th, 2019} by Andrew Ramonas

    Brokers shouldn’t brush off a deadline next year to fulfill their obligations under a new conflict-of-interest regulation, according to Securities and Exchange Commission Chairman Jay Clayton. Clayton gave his warning after former Republican SEC Commissioner Daniel Gallagher asked him at a conference whether the agency would send its “stormtroopers” to check on compliance with the […]

    SEC Probes AIG Unit on Retirement Products for Teachers

    {November 6th, 2019} by Gretchen Morgenson and Anne Tergesen

    The Securities and Exchange Commission is investigating sales and disclosure practices at Valic, a unit of giant insurer American International Group Inc., including the company’s dealings with retirement-plan participants at school districts and universities, according to people briefed on the matter. The inquiry centers on whether incentives in Valic’s compensation structure rewarded representatives for selling higher-cost products to […]

    Insurer Groups Ask Fed to Ease Capital Standards Comment Deadline

    {November 6th, 2019} by Allison Bell

    At least three major insurance company groups strongly agree on one insurance capital standards point: They need more time to respond to a Federal Reserve Board capital standards proposal. The Fed capital standards proposal would apply to “depository institution holding companies significantly engaged in insurance activities.” The current comment deadline Dec. 23. The American Council […]

    Life and Annuity Products Should Meet Same Illustration Standards: Consumer Rep

    {November 6th, 2019} by Allison Bell

    A consumer group is asking state insurance regulators to work in 2020 on making the performance illustration rules for indexed life insurance products more like the illustration rules for indexed annuities. The Center for Economic Justice says the Life Insurance and Annuity Committee, part of the National Association of Insurance Commissioners (NAIC), should turn its […]

    Yeah, It’s Cold Out There: More Life and Annuity Issuers to Wall Street

    {November 6th, 2019} by Allison Bell

    Three more big individual life and annuity issuers — Prudential Financial Inc., Athene Holding Ltd. and Brighthouse Financial Inc. — have released their third-quarter earnings this week. All three made money during the quarter, but all three are emphasizing that falling interest rates have forced them to put on their financial snow boots. Charles Lowrey, the chief executive officer […]

    Mutual Life Insurers Begin Setting 2020 Dividend Rates

    {November 6th, 2019} by Allison Bell

    The boards of the Northwestern Mutual Life Insurance Company and Massachusetts Mutual Life Insurance Company have posted 2020 dividend payout estimates. Northwestern Mutual says the dividend interest rate it uses to calculate the dividend payments will hold steady at 5%. Total dividend payments are on track to increase to $6 billion. A year ago, the […]

    Life and Annuity Issuers Tell Wall Street About Interest Rate Winter

    {November 6th, 2019} by Allison Bell

    Insurance company executives say the current interest rate ice storm is hurting life and annuity sales. Executives from American International Group Inc., Lincoln Financial, American Financial Group Inc. and FBL Financial Group Inc. have been talking about life insurance premium increases and annuity crediting rate cuts during conference calls with securities analysts. AIG executives, for […]

    Integrity Marketing Acquires Iowa-Based Distributor

    {November 6th, 2019} by Allison Bell

    Integrity Marketing LLC has acquired Great American Legacy Inc. of Lisbon, Iowa. Integrity Marketing is a Dallas-based senior products distributor that has bought about two dozen other distributors over the past three years. Great American Legacy is an insurance marketing organization that has been selling Medicare plans, long-term care insurance, life insurance and annuities through […]

    The Brooke Shields Strategy Worked: Life Happens President

    {November 6th, 2019} by Allison Bell

    Faisa Stafford is trying to make Americans more aware of you, and what you sell. Stafford is now the president and chief financial officer of Life Happens — the nonprofit group that runs the Life Insurance Awareness Month campaign in September and the Insure Your Love campaign in February. The Arlington, Virginia-based group is also one […]

    Accounting Rules Could Scare Some Life Insurers Private: S&P

    {November 6th, 2019} by Allison Bell

    The new long-duration insurance contract accounting rules could make some U.S. life insurers’ results go up and down so much that the insurers will have to give up having publicly traded stock. Peggy Poon and other analysts at S&P Global Ratings suggest that possibiity in an analysis of the possible impact of the Financial Accounting Standards […]

    Chamber Standards Fight Could Affect Life and Annuity Prices, Product Menus

    {November 6th, 2019} by Allison Bell

    The U.S. Chamber of Commerce is trying to persuade an international insurance group to adopt a U.S. Chamber approach to determining whether insurers have enough capital to support the insurance policies and annuity contracts they’ve sold. The outcome of the fight, at the International Association of Insurance Supervisors (IAIS), could eventually have a big effect on […]

    Life Agents Could Get Retirement Plan Business, Too: Ubiquity Retirement CEO

    {November 6th, 2019} by Allison Bell

    Chad Parks would like to make life and annuity agents jealous of property and casualty agents. Parks is the founder and chief executive officer of Ubiquity Retirement + Savings. The company has been marketing a simple, standardized, flat-fee 401(k) plan program to small U.S. employers since 1999. The company has about 7,000 employer clients, with about […]

    Tech Is What Could Really Kill Us: Life Insurer Bosses

    {November 6th, 2019} by Allison Bell

    The world’s top life insurance company executives may be thinking a lot more about Amazon, Haven Life and Ethos Life than they are about changes in accounting rules. Analysts from LIMRA and the Boston Consulting Group have celebrated Halloween week by releasing a new batch of survey data concerning what external forces scare (or, possibly, excite) […]

    Robo Underwriters May Need Tough Bodyguards: Moody’s Analysts

    {November 6th, 2019} by Allison Bell

    Life insurers’ new, automated underwriting processes could make customers happier, speed up sales and cut costs — but one risk is that cyber crooks could come after the underwriting data streams. Kripa Thapa and other analysts at Moody’s Investors Service talk about the rating implications of automated underwriting processes in a new U.S. life insurance sector […]

    Jill McGruder to Lead LIMRA and LOMA’s Parent in 2020

    {November 6th, 2019} by Allison Bell

    LL Global — the parent of LIMRA and LOMA — has named Jill McGruder to be its board chair in 2020. McGruder is the chief marketing officer at Western & Southern Financial Group of Cincinnati. She is taking over from Brandon Carter. Carter is the president of USAA Life Insurance Company. Neil Sprackling, president for U.S. […]

    Advisor Group Looking to Buy Ladenburg: Report

    {November 5th, 2019} by Janet Levaux

    Ladenburg Thalmann, which owns a group of independent broker-dealers with about 4,500 advisors, is in talks with possible buyer Advisor Group, according to Bloomberg News, which cited people familiar with the matter. Ladenburg’s IBDs are Securities America, Triad Advisors, Investacorp, Securities Service Network and KMS Financial Services. Advisor Group, which has about 7,000 advisors, includes FSC […]

    Morningstar Rolls Out New Ratings System

    {November 5th, 2019} by Janet Levaux

    Four months after news broke that changes were coming, the Morningstar Analyst Rating system for funds is now in place with a new methodology. The new system gives more weight to fees and sets the bar higher for active funds, while shifting how Morningstar assigns ratings to fund share classes to account for specific fees […]

    ‘This is how we will break the culture of sexual harassment’

    {November 5th, 2019} by Ann Marsh

    Mary Carroll strolled past tables of revelers as the Barenaked Ladies delivered a staccato jam, spiced with their comedic rapping, onstage at TD Ameritrade’s National LINC conference for advisors in 2016. Frosted plastic balls filled with LED lights glowed in the dark, changing the colors of table centerpieces. Carroll, who now works for advisor billing […]

    Optimistic Women Are Different: Alliance for Lifetime Income

    {November 5th, 2019} by Allison Bell

    The Alliance for Lifetime Income (ALI) has no data on whether the retirement income chicken came first, or the retirement income egg, but it says it has survey data that show that women who have protected retirement income are more optimistic about their retirement income than other women are. ALI is a nonprofit organization, backed […]

    Mutual Life Insurers Begin Setting 2020 Dividend Rates

    {November 5th, 2019} by Allison Bell

    The boards of the Northwestern Mutual Life Insurance Company and Massachusetts Mutual Life Insurance Company have posted 2020 dividend payout estimates. Northwestern Mutual says the dividend interest rate it uses to calculate the dividend payments will hold steady at 5%. Total dividend payments are on track to increase to $6 billion. A year ago, the […]

    Getting to know our Rates Wrangler Extraordinaire

    {November 5th, 2019} by Wink's RockStars

    WHAT CAN WE SAY ABOUT THE MOST EXPERIENCED FEMALE INSURANCE PROFESSIONAL AT WINK?! Rita, Rates Wrangler Extraordinaire, solicited a charitable contribution out of our CEO faster than any fundraiser in our 14 years’ history due to her love for volunteering at nonprofits. She specifically asked if she could take vacation the week of the Iowa […]

    An Interview With a Veteran

    {November 5th, 2019} by Wink RockStars

    Wink is closed on Monday, November 11th to honor Veterans Day. We are proud of the U.S. Veterans and want to say THANK YOU to those who serve and have served! We would like to take a moment to feature a very special veteran in our extended Wink family, Sheryl Moore’s father, Kurt S. Sundberg, […]

    What Scary Movie Characters Can Teach Clients About Life Insurance

    {November 5th, 2019} by Phil Murphy

    Talking about the characters in scary movies may help you communicate with your clients about the value of life insurance. Although 70% of Americans consider life insurance a necessity, 41% have no coverage at all, according to data from Foresters Financial. This coverage gap may be partly due to consumers’ lack of life insurance education, and […]

    10 Scariest Retirement Statistics: 2019

    {November 5th, 2019} by Marlene Satter

    What sets an American worker’s heart racing with fear? It’s not Halloween but finances — debt, medical bills, emergency expenses and more. Plus for many in their 40s and 50s, there’s the additional dread of a retirement with little money. In fact, for many, retirement is now a question, not an answer. It’s not that […]

    Simplicity Life is Expanding the Elite Producer Group with an Exciting New Addition

    {November 5th, 2019} by Simplicity Life

    John Melvin, Executive Vice President, brings his proven track record in sales and marketing to the Simplicity Life family. Monticello, MN –Tom Tous, who started the Elite Producer Group division at Simplicity Life, is excited to be working alongside John. Their mission is to drive membership, business, production, and brand awareness. John brings over 30 […]

    WinkAssist is here!

    {November 4th, 2019} by Wink's RockStars

    Attention AnnuitySpecs users! Ever wish there were specs on our website for an elusive annuity, which you can no longer find information on? WISH NO MORE! WinkAssist is here to help! Just email us as many details on the product/riders you need help researching, and we will do what we can to get specs approved […]

    How awesome is this?! New LifeSpecs features!

    {November 4th, 2019} by Wink's RockStars

    Attention LifeSpecs users! So, we did this awesome thing with the Product Rates page, and renamed it “Advanced Product Rates.” You’ll probably freak-out and faint at how awesome it is. Please ask a coworker to provide back-up, before using this page for the first time. We mean it; it is THAT good. Also, the Product […]

    Jackson National Life contracts with India-based IT company; no word on layoffs

    {November 4th, 2019} by Christian Martinez

    LANSING – Lansing-based insurance company Jackson National Life entered an agreement with India-based Tech Mahindra to provide technology support, the company announced through a statement it provided to the Lansing State Journal on Monday. The statement indicated that some Lansing-based employees have been hired by Tech Mahindra. “Although Tech Mahindra’s global headquarters are based out of […]

    DOL Rule Killer Scalia Gets Green Light to Rewrite Fiduciary Rule

    {October 30th, 2019} by Alex Padalka

    Newly appointed Labor Secretary Eugene Scalia will be able to take part in drafting the Department of Labor‘s new fiduciary rule despite playing a key role in overturning the previous version of the regulation, according to news reports. The DOL’s career ethics attorneys have determined that neither its own ethics rules nor President Donald Trump administration’s ethics pledge precluded […]

    Security Announcement for #NAILBA38

    {October 30th, 2019} by NAILBA

    NOTICE: Due to increased hotel security procedures, all NAILBA 38 Annual Meeting attendees MUST be registered. This includes access to the Exhibit Hall, General Session, Workshops, Mooers Dinner (this includes guests…have you RSVP’d?), any NAILBA meeting rooms (this includes groups securing meeting rooms via NAILBA), etc.   Some locations will have badge check or roving […]

    Tech Bits: PartnerRe, Principal

    {October 30th, 2019} by Allison Bell

    PartnerRe North America Life is getting ready to test a tobacco use fib detection system from Verisk Analytics Inc., Verisk announced Thursday. If the system works, it could help a life insurer use telephone interview results and applicant-provided data to see whether an applicant has somehow left out information about tobacco use. A life insurer could […]

    Here’s Why Interest Rates Made Supporting Annuities Trickier for Ameriprise This Summer

    {October 30th, 2019} by Allison Bell

    Annuity sales may have been fine this summer, but wild interest rate fluctuations made the third quarter a tough time to manage the investments supporting annuity obligations. Walter Berman, the chief financial officer of Ameriprise Financial Inc., talked about the third-quarter rate rollercoaster Thursday, during a conference call the company held to go over third-quarter performance with […]

    Life Insurers Must Compete Harder With ‘Passing the Hat’: Prudential

    {October 30th, 2019} by Allison Bell

    Prudential Financial Inc. has a message for life insurance professionals, other insurers, and the general public: buying life insurance is a much better deal than “passing the hat” to come up with the cash to pay for a funeral. The Newark, New Jersey-based insurer recently found, when it conducted a survey through Twitter, that 49% of […]

    National Western Life names Rey Perez as President and Chief Operating Officer

    {October 30th, 2019} by National Western Life Group, Inc.

    AUSTIN, Texas, Oct. 29, 2019 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (NWLGI) announced that Rey Perez will assume the role of President and Chief Operating Officer of National Western Life Insurance Company (NWLIC), a wholly owned subsidiary of NWLGI, effective January 1, 2020. Kitty K. Nelson, the current […]

    Apollo to Help Athene Attract More Retail Fund Cash

    {October 29th, 2019} by Allison Bell

    Apollo Global Management Inc. — a company that has been pouring institutional investor cash into the life insurance and annuity sectors — wants one of its major clients, Athene Holding Ltd. — to attract more money from the funds that serve ordinary retail investors. Apollo and Athene today announced a series of transactions that could help Athene break […]

    When Annuities Are a Better Deal for Women Than Men

    {October 29th, 2019} by Benjamin Harris

    When it comes to retirement, women often have it worse than men. They typically have higher poverty rates, lower Social Security benefits, and less saved in 401(k)s. But women do have a leg up on one aspect of retirement: When buying an income annuity through a workplace retirement plan, they can expect higher benefits relative […]

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