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  • MassMutual Consumer Spending & Saving Index: Parents Continue to Face Financial and Work Challenges due to COVID-19

    {May 11th, 2021} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–As the United States continues to emerge from the COVID-19 pandemic, parents, especially mothers, continue to feel exasperated by financial and workplace challenges. Sixty-one percent of parents say they find it difficult to manage their finances due to priorities during the pandemic according to the MassMutual Consumer Spending & Saving Index. At the […]

    Forty Percent of Adult Children Question If Mom Is Financially Prepared for the Future, Says New Lincoln Financial Group Data

    {May 11th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–As the country prepares to celebrate Mother’s Day, 40% of adult children question if their mother is financially prepared for the future. Yet, only 28% have had a conversation about her financial preparedness in the past year, according to a new Mother’s Day poll from Lincoln Financial Group (NYSE: LNC) and CivicScience. The […]

    American Financial Group, Inc. Announces First Quarter Results

    {May 11th, 2021} by American Financial Group

    CINCINNATI–(BUSINESS WIRE)–American Financial Group, Inc. (NYSE: AFG) today reported 2021 first quarter net earnings attributable to shareholders of $419 million ($4.84 per share) compared to a net loss of $301 million ($3.34 per share loss) for the 2020 first quarter. Net earnings for the 2021 first quarter include after-tax non-core items totaling $213 million ($2.46 […]

    Lincoln Financial Group Reports First Quarter 2021 Results

    {May 11th, 2021} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the first quarter of 2021 of $225 million, or $1.16 per diluted share available to common stockholders, compared to net income in the first quarter of 2020 of $52 million, or $0.15 per diluted share available to common stockholders. First quarter adjusted income […]

    MetLife Announces First Quarter 2021 Results

    {May 11th, 2021} by MetLife

    NEW YORK–(BUSINESS WIRE)–MetLife, Inc. (NYSE: MET) today announced its first quarter 2021 results. First Quarter Results Summary Net income of $290 million, or $0.33 per share, compared to net income of $4.4 billion, or $4.75 per share, in the first quarter of 2020. Adjusted earnings of $2.0 billion, or $2.20 per share, compared to adjusted […]

    Equitable Holdings Reports First Quarter 2021 Results

    {May 11th, 2021} by Equitable Holdings

    NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (“Equitable Holdings”, “Holdings”, or the “Company”) (NYSE: EQH) today announced financial results for the first quarter ended March 31, 2021. “Thanks to the resiliency of Equitable’s business model, we began 2021 with strong operating performance and delivered another quarter of solid results, with non-GAAP operating earnings of $1.35 per share, […]

    American Equity Reports First Quarter 2021 Results

    {May 11th, 2021} 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 first quarter 2021 net income available to common stockholders of $271.8 million, or $2.82 per diluted common share, compared to net income available to common stockholders of $236.3 million, or $2.57 per diluted […]

    Global Atlantic Appoints Edward Root to Oversee Pension Risk Transfer Business, Continues to Grow Reinsurance Strategy

    {May 11th, 2021} by Global Atlantic Financial Group

    HAMILTON, Bermuda–(BUSINESS WIRE)–Global Atlantic Financial Group, a leading annuity and life insurance company, today announced that it has appointed Edward Root as Managing Director leading the firm’s growing pension risk transfer (PRT) reinsurance business. Mr. Root will report to Manu Sareen, President of Institutional Markets, Global Atlantic, and Chief Executive Officer, Global Atlantic Re Limited. […]

    J.P. Morgan and Nationwide Launch First Professionally Managed Annuity

    {May 11th, 2021} by J.P. Morgan Wealth Management

    NEW YORK–(BUSINESS WIRE)–J.P. Morgan has partnered with Nationwide to launch a new investment product that combines tailored-portfolio features with tax-efficient investment options. This innovative variable annuity issued by Nationwide leverages the professional investment advice provided by J.P. Morgan. J.P. Morgan Multi-Asset ChoiceSM allows clients working with a dedicated J.P. Morgan advisor to build a diversified portfolio […]

    AIG Reports First Quarter 2021 Financial Results

    {May 11th, 2021} by AIG

    FIRST QUARTER NOTEWORTHY ITEMS General Insurance APTI of $845 million included better underwriting results and higher net investment income; the combined ratio was 98.8, a 2.7 point improvement from the prior year quarter, despite 7.3 points of catastrophe losses, net of reinsurance (CATs), or $422 million, primarily from winter storms. The General Insurance accident year […]

    Brighthouse Financial Announces First Quarter 2021 Results

    {May 11th, 2021} by Brighthouse Financial, Inc

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the first quarter ended March 31, 2021. First Quarter 2021 Results The company reported a net loss available to shareholders of $610 million in the first quarter of 2021, or $6.96 per diluted share, compared with net […]

    Global Insurance Symposium Announces Event Headliners

    {May 11th, 2021} by Global Insurance Symposium

    DES MOINES, Iowa, May 10, 2021 /PRNewswire/ — International leaders in insurance, technology and government will headline the 2021 Global Insurance Symposium, to be held both in-person and virtually in Des Moines, Iowa, on June 28-30. Speakers and panelists will offer exclusive insights on new ideas and challenges facing insurance companies, insurtech companies, startups and regulators during this industry […]

    Industry Veteran Mike Ebmeier Joins Simplicity Group as Executive Vice President to Grow Strategic Distribution

    {May 11th, 2021} by Simplicity Group

    SUMMIT, N.J., May 4, 2021 /PRNewswire/ — Simplicity Group Holdings (“Simplicity”) is pleased to announce that Mike Ebmeier has joined the company as Executive Vice President. Mr. Ebmeier will help drive strategic growth in various distribution channels, including annuities and various other insurance products, develop carrier partnerships, advance proprietary product designs, and enhance product marketing. Mr. Ebmeier brings 34 years […]

    Simplicity Group Acquires Guardian Financial Group and Welcomes Jerry Whitley as its Newest Partner

    {May 11th, 2021} by Simplicity Group

    SUMMIT, N.J., May 6, 2021 /PRNewswire/ — Simplicity Group (“Simplicity”) is pleased to announce that it has added Guardian Financial Group to the Simplicity Group of companies and welcomes Jerry Whitley as its newest partner and shareholder through a transaction that closed effective May 3. Guardian Financial Group, which will rebrand to Simplicity, provides specialized financial planning advice tailored to […]

    National Western Life Group, Inc. Announces 2021 First Quarter Earnings

    {May 11th, 2021} by National Western Life Group, Inc.

    AUSTIN, Texas, May 10, 2021 /PRNewswire/ — Ross R. Moody, Chairman of the Board, President, and Chief Executive Officer of National Western Life Group, Inc. (Nasdaq: NWLI), announced today first quarter 2021 consolidated net earnings of $62.1 million, or $17.57 per diluted Class A common share, compared with a consolidated net loss of $2.1 million, or $0.58 per diluted Class A common share, for 2020. […]

    Prudential Continues Strong ‘Product Pivot Strategy’ In Healthy 1Q

    {May 11th, 2021} by John Hilton

    Strong sales of its buffered annuity, FlexGuard, helped Prudential continue its first-quarter shift away from interest rate-sensitive products and underpinned its strong financial showing. Total first-quarter revenues of $14.2 billion were up 11% over 1Q 2020 due to higher premiums, policy charges and fee income, net investment income, asset management fees, commissions as well as […]

    F&G Announces $1 Billion Sales Milestone in its Financial Institutions Channel

    {May 11th, 2021} by Fidelity & Guaranty Life

    DES MOINES, Iowa, May 10, 2021 /PRNewswire/ — F&G, part of the FNF family of companies and a leading provider of annuities and life insurance, announced that the company has surpassed $1 billion in sales in the financial institutions channel, less than one year after launching.  Debuting in July 2020 with Raymond James, F&G has experienced significant growth in this space and remains […]

    Ebony Ruffin Shows How Life Insurance Is Part Of A Luxury Lifestyle

    {May 11th, 2021} by Susan Rupe

    Ebony Ruffin was back home after graduating from Auburn University when she discovered a piece of mail that eventually led to her life’s passion. “I found an envelope addressed to me, and I thought, ‘OK, I can open this,’” she said. “And then I saw it was a life insurance statement. But I saw there […]

    FBL Financial and Its Sister Win Over Deal Critic

    {May 11th, 2021} by Allison Bell

    Farm Bureau Property & Casualty Insurance Company may have moved a step closer to helping a sister company, FBL Financial Group Inc., go private. Farm Bureau P&C announced Monday that it has agreed to increase its offer for outside investors’ shares of FBL Financial stock to $61 each, from $56. The move increases the total […]

    Prudential Is Working On Annuity Derisking Deals: Rob Falzon

    {May 11th, 2021} by Allison Bell

    Prudential Financial Inc. is continuing to shift toward sales of variable life and variable annuity products that limit the amount of risk it assumes, and it hopes to use reinsurance arrangements or other transactions to shed more annuity risk. The firm’s executives talked about the company’s pivot away from stock market and interest rate risk […]

    Could Life Insurance Pricing Skyrocket As A Result Of COVID-19?

    {May 11th, 2021} by Jay Scheiner, JD, CLU

    Could life insurance rates skyrocket? As the COVID-19 pandemic continues to impact the health of people throughout our country and the world, producers are questioning how the virus will affect life insurance pricing for their clients going forward. I spoke with several industry experts and actuaries–here’s what I found: COVID has made it harder for […]

    Consumer Direct Life eApp While Maintaining The Agent Ecosystem

    {May 11th, 2021} by Ken Leibow

    We are hearing new terms like eBGAs and eRetailers for the sale of insurance products. Putting the research, education, quoting, and electronic insurance application submission process in the hands of the consumer while maintaining the agent ecosystem is the new model for marketing and selling insurance. This insurance sales model is growing in popularity. The […]

    Allianz Life

    {May 11th, 2021} by Broker World

    Allianz Life Insurance Company of North America (Allianz Life) recently announced that Jasmine Jirele has been named president and CEO of Allianz Life, succeeding President and CEO Walter White, who will retire December 31, 2021. Jirele’s leadership experience spans strategy, product innovation, marketing, operations, and digital and experience management. Click HERE to read the full story via […]

    SBLI

    {May 11th, 2021} by Broker World

    Greg Melton, assistant vice president of Product Marketing at SBLI (The Savings Bank ​Mutual Life Insurance Company of Massachusetts), has been named to the Community Leadership Board of the New England chapter of the American Diabetes Association (ADA), bringing his expertise and support to help the ADA in its mission to improve the lives of […]

    Ohio National

    {May 11th, 2021} by Broker World

    Ohio National Mutual Holdings, Inc. (“ONMH”) and its wholly owned subsidiary Ohio National Financial Services, Inc. (collectively, “Ohio National” or “the Company”), a leading provider of financial services, today announced that the ONMH’s Board of Directors has unanimously approved a strategic transaction with Constellation Insurance Holdings, Inc. (“Constellation”). This includes the conversion of ONMH to […]

    American Financial Sheds Annuities, Enjoys Big Boost In P&C

    {May 11th, 2021} by Steve Morelli

    American Financial is expecting a better year as the company sells Great American to MassMutual and exits the annuity business. The American Financial Group plans to complete the sale of the Great American Life Insurance Co. in the second quarter. The deal allows American Financial to focus on its property/casualty business, which remains strong despite […]

    Secure Act 2.0: A Gateway to ‘Rothification’ of Retirement?

    {May 11th, 2021} by Janet Levaux

    The Securing a Strong Retirement Act of 2021 passed the House Ways and Means Committee on Wednesday. While it has a long way to go in the legislative process, the bill, dubbed the Secure Act 2.0, has the attention of advisors like Jamie Cox. The 146-page package aims to raise the required minimum distribution age […]

    House Panel Marks Up ‘Secure Act 2.0’ Bill on Annuities, RMDs

    {May 11th, 2021} by Allison Bell

    The House Ways and Means Committee is discussing and revising a retirement bill that includes three major annuity provisions. The committee will mark up H.R. 2954, the “Securing a Strong Retirement Act of 2021″ bill, or Secure Act 2.0, at a meeting that starts at 11 a.m. today. Live video of the markup, and a video recording, […]

    WealthVest launches a new tool to help financial professionals with Regulation Best Interest.

    {May 11th, 2021} by WealthVest

    Today, WealthVest, a financial services firm specializing in retirement savings and income products, announced the launch of Best Interest Report Card, a new tool designed to assist financial professionals with the selection of annuity products for their clients. Launched in response to the new standards implemented by Regulation Best Interest in early 2020, the Best […]

    Willis Towers Watson launches latest version of DataValidator

    {May 11th, 2021} by Ryan Smith

    Willis Towers Watson has announced the launch of an updated version of its DataValidator technology, which helps property-casualty and life insurers to use their data more efficiently by validating, cleansing and transforming data for use in financial modeling and reporting processes. “Timely access to good quality data continues to be one of the most difficult […]

    Ways and Means Brushes Past Talk of Secure 2.0 Annuity Provisions

    {May 11th, 2021} by Allison Bell

    House Ways and Means Committee members seem to be unanimous in their support for, or acceptance of, the annuity provisions in H.R. 2954. The committee marked up H.R. 2954, the Securing a Strong Retirement Act of 2021 (Secure 2.0) bill, Wednesday and approved it by a voice vote. Ways and Means Chairman Richard Neal, D-Mass., […]

    Prudential Is Working On Annuity Derisking Deals: Rob Falzon

    {May 11th, 2021} by Allison Bell

    Prudential Financial Inc. is continuing to shift toward sales of variable life and variable annuity products that limit the amount of risk it assumes, and it hopes to use reinsurance arrangements or other transactions to shed more annuity risk. The firm’s executives talked about the company’s pivot away from stock market and interest rate risk […]

    American Equity Had A Mighty MYGA Year

    {May 11th, 2021} by Steve Morelli

    American Equity struck gold with multi-year guaranteed annuities over the past year capped by a record-breaking first quarter, but the company’s CEO pledged that the carrier will return to its fixed indexed annuity base this year. The company recorded all-time record sales of $2.4 billion, up 32% from the fourth quarter of 2020 and 245% […]

    Protective Launches Variable Annuities Product Enhancements

    {May 11th, 2021} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced enhancements to available investment options, advancing the company’s presence in the variable annuities space. To help clients better capitalize on growth opportunities, Protective’s commission-based variable annuity solutions and their fee-based advisory solutions will now offer investment […]

    Pacific Life Introduces New Funds Designed to Address Today’s Consumer Needs

    {May 11th, 2021} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life today announced two new portfolios to diversify its variable annuity investment lineup designed to meet today’s consumer needs: PLFA ESG Diversified Portfolio and JPMorgan Hedged Equity Portfolio. Both are available to consumers who purchase certain variable annuities from Pacific Life and are eligible for investment with an optional living benefit. […]

    Advisor Group Seeks at Least $900K From Venerable in Lawsuit

    {May 11th, 2021} by Jeff Berman

    Advisor Group is seeking at least $900,000 from Venerable Insurance and Annuity Co. and Directed Services, alleging the variable annuity firm and its affiliate breached the terms of a marketing and support agreement by abruptly terminating the deal and payments made to the broker-dealer under the pact. In a complaint filed against Venerable and Directed […]

    Lincoln Financial Gives COVID-19 Impact Details: Earnings

    {May 11th, 2021} by Allison Bell

    The COVID-19 wave that hit in January caused some disability insurance claims and retirement plan contribution weakness at Lincoln Financial, along with a big surge in life insurance claims. Lincoln Financial executives talked about the impact of the pandemic last week during a conference call with securities analysts. The company turned in a big year-over-year increase in […]

    Sladek Promoted at Mutual of Omaha

    {May 11th, 2021} by Mutual of Omaha

    OMAHA, Neb. (May 3, 2021) – Michael “Slades” Sladek has been promoted to Vice President of Brokerage Sales at Mutual of Omaha. He directs, oversees and coaches National Sales Directors in activities to increase sales and profits, reduce expenses, and retain business. Sladek is responsible for the success and performance of the external sales team to meet annual goals set in […]

    Apollo Global Management, Inc. Reports First Quarter 2021 Result

    {May 11th, 2021} by Apollo Global Management

    New York, May 4, 2021 — Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today reported results for the first quarter ended March 31, 2021. “The first quarter was incredibly strong for Apollo, with record GAAP earnings of $2.81 per share and record fee-related earnings of $0.65 per share, up 26% […]

    VUL Opportunities For Any Generation

    {May 11th, 2021} by Charles Arnold

    I was recently approached by an “insurtech” startup firm from California with a desire to offer variable universal life insurance on their direct-to-consumer app. I was intrigued and held the all-too-familiar Zoom call with them. They are further along than I would have imagined, with some real experience in the life insurance space, current production, […]

    Lorelai: The Reason Insurance Exists

    {May 11th, 2021} by Thomas R. Petersen

    Over the years I have written periodically about disabilities that have unfortunately occurred in my family, to which having or not having various types of insurance made the difference between disaster and financial stability. In one disastrous case, a dive instructor and dive store owner was hit by a drunk driver, causing severe injuries, necessitating […]

    Investor Advocates Urge DOL To ‘Fix’ Retirement Plan Advisor Rule

    {May 11th, 2021} by Tracey Longo

    A wide group of investor attorneys, investor advocacy groups and employee organizations told the Department of Labor yesterday in a letter that they “strongly oppose” the agency’s advice rule and believe it leaves retirement investors “dangerously exposed to conflicted advice.” The letter, titled “How to Fix the Advice Rule,” was sent to DOL Acting Assistant […]

    JPMorgan Rolls Out Managed Annuity Product with Tax Deferral Features

    {May 11th, 2021} by Alex Padalka

    JPMorgan says it has partnered with the insurance firm Nationwide for what the bank calls the “first managed annuity product.” JPMorgan Multi-Asset Choice, as the product is known, is a variable customizable investment advisory annuity developed by JPMorgan Private Bank and JPMorgan Wealth Management and only available to the firm’s clients, JPMorgan says. Click HERE to read […]

    DOL Withdraws Independent Contractor Rule; Creates ‘Uncertainty’ for Independent FAs

    {May 11th, 2021} by Alex Padalka

    The Department of Labor says it’s withdrawing a Trump-era rule on the distinction between employees and independent contractors. The rule, which was finalized during the last few weeks of the Trump administration and was due to go into effect on Friday, reaffirmed an “economic reality” test to assess whether someone is an independent contractor or an employee […]

    U.S. Insurers Seek Partners for Digital Transformation as Pandemic, Regulations, Market Trends Shake Up Industry

    {May 10th, 2021} by ISG

    STAMFORD, Conn.–(BUSINESS WIRE)–U.S. insurance companies are accelerating their adoption of digital technologies as the COVID-19 pandemic disrupts their operations, in many cases turning to business process outsourcing for efficiency, agility and new capabilities, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The […]

    Horace Mann Reports Record First-Quarter 2021 Net Income of $0.93 Per Share and Record Core Earnings* of $1.10 Per Share

    {May 10th, 2021} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill.–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the three months ended March 31, 2021: Horace Mann Consolidated Financial Highlights     Three Months Ended March 31, ($ in millions, except per share amounts)   2021     2020     % Change Total revenues   $ 322.0       $ […]

    Prudential Financial, Inc. Announces First Quarter 2021 Results

    {May 10th, 2021} by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) today reported first quarter results. Net income attributable to Prudential Financial, Inc. was $2.828 billion ($6.98 per Common share) for the first quarter of 2021, compared to net loss of $271 million ($0.70 per Common share) for the first quarter of 2020. After-tax adjusted operating income was $1.665 […]

    Annuities Help Clients Spend More Money In Retirement

    {May 10th, 2021} by Susan Rupe

    When advisors talk to their clients about annuities, the conversation usually centers on creating guaranteed lifetime income. But many clients might be more responsive to annuities if advisors turned the conversation around to discuss ways annuities can help clients spend more money in retirement. That was the word from Harry Stout, founder of the FinancialVerse […]

    Kerry Pechter: How Annuities Fit Into the Retirement Income Puzzle

    {May 10th, 2021} by The Long View

    Our guest on the podcast today is Kerry Pechter. He is the editor and publisher of Retirement Income Journal, which he launched in 2009 to provide unconflicted news and analysis to the annuity and financial advice industries. RIJ recently celebrated its 500th issue. Kerry is also the author of Annuities for Dummies and two other nonfiction books. He has been […]

    Breaking: NY Court Overturns Regulation 187

    {May 4th, 2021} by John Hilton

    The New York Supreme Court sided with plaintiffs today in overturning the toughest state annuity sales standard in the nation. The state Supreme Court Appellate Division reversed a 2019 ruling by Justice Henry Zwack that the New York State Department of Financial Services was within its authority when it issued Regulation 187. Regulation 187, often […]

    Protective Launches Variable Annuities Product Enhancements

    {May 4th, 2021} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced enhancements to available investment options, advancing the company’s presence in the variable annuities space. To help clients better capitalize on growth opportunities, Protective’s commission-based variable annuity solutions and their fee-based advisory solutions will now offer investment […]

    Ameriprise Continues Tilt Toward Variable Products: Earnings

    {May 4th, 2021} by Allison Bell

    Ameriprise Financial Inc. (AMP)is staying on the same path in the life insurance and annuity markets. Executives at the Minneapolis-based financial services company said Tuesday that they are continuing to cope with low interest rates by focusing on the sale of variable products that are light on guarantees. Jim Cracchiolo, the CEO, talked about life […]

    Commission-Free Annuities: No Longer an Oxymoron

    {May 4th, 2021} by Jane Wollman Rusoff

    When you’re a market disrupter, countless folks will be troubled by your moves; others will be pleased as punch. Enabling RIAs to sell annuities has provoked the latter response from these advisors.  “I’ve been told several times over, ‘You’re doing God’s work!’” says David Lau, founder and CEO of DPL Financial Partners, first in marketing […]

    Research Roundup

    {May 4th, 2021} by Kerry Pechter

    How should pre-retirees invest their savings? What’s the difference between the “money’s worth” of an annuity and its “insurance value”? Is economic inequality consistent with human nature? What is the link between economic inequality in the US in 2021 and the gradual decline in prevailing interest rates since 1982? Click HERE to read the full […]

    New York Life Investments Launches Advisor Advancement Institute to Empower Financial Advisors with Resources to Help Clients Build a Better Financial Future

    {May 4th, 2021} by New York Life Investments

    NEW YORK, May 3, 2021 /PRNewswire/ — New York Life Investments today announced the launch of the Advisor Advancement Institute, a comprehensive, educational practice management platform to help financial advisors build better practices and develop deeper, more valuable client relationships. The launch of the Advisor Advancement Institute also coincides with New York Life Investments’ launch of a new professional development […]

    Kansas City Life Announces First Quarter 2021 Results

    {May 4th, 2021} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., April 30, 2021 /PRNewswire/ — Kansas City Life Insurance Company recorded a net loss of $0.7 million or $0.07 per share in the first quarter of 2021 compared to net income of $0.2 million or $0.02 per share in the first quarter of 2020.  The largest contributors in the decline in net income in 2021 compared to 2020 were a decrease in […]

    Commission-Free Annuities: No Longer an Oxymoron

    {May 4th, 2021} by Jane Wollman Rusoff

    When you’re a market disrupter, countless folks will be troubled by your moves; others will be pleased as punch. Enabling RIAs to sell annuities has provoked the latter response from these advisors.  “I’ve been told several times over, ‘You’re doing God’s work!’” says David Lau, founder and CEO of DPL Financial Partners, first in marketing […]

    Newsweek Names Pacific Life a 2021 Best Customer Service Company

    {May 4th, 2021} by Pacific Life Insurance Company

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life’s Life Insurance Division has been named a 2021 Best Customer Service Company in Newsweek’s annual “Best of Customer Service” awards. Based on an independent survey, the award recognizes communication quality, professional competence, range of services, customer focus, and accessibility of customer service. “Policyowners are the heart of our business and […]

    FBL Financial Group Reports First Quarter 2021 Results

    {May 4th, 2021} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) today reported net income attributable to FBL Financial Group for the first quarter of 2021 of $27.7 million, or $1.13 per diluted common share, compared to a net loss of $2.5 million, or $0.10 per diluted common share, for the first quarter of 2020. Adjusted operating […]

    Farm Bureau Property & Casualty and FBL Financial Group Amend Merger Agreement

    {May 4th, 2021} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Farm Bureau Property & Casualty Insurance Company (“FBPCIC”) and FBL Financial Group, Inc. (NYSE: FFG) (“FBL Financial Group” or “the Company”) today announced that they have agreed to amend their previously-announced definitive merger agreement, dated January 11, 2021. Pursuant to the amended definitive agreement (the “Merger Agreement”), FBPCIC increased the offer […]

    New Data from New York Life Reveals Americans Have Boosted Confidence in Short-Term Financial Goals One Year Since the Start of the COVID-19 Pandemic

    {May 4th, 2021} by New York Life

    NEW YORK–(BUSINESS WIRE)–New data released today by New York Life found that over the course of the past year, Americans feel more confident in their short-term financial goals, including in the status of their savings and the ability to pay their bills month-to-month. Despite increased confidence in their ability to achieve short-term financial goals, the […]

    Principal Financial Group Announces First Quarter 2021 Results

    {May 4th, 2021} by Principal

    DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced results for first quarter 2021. “Best Places to Work in Money Management13.” Tweet this Net income attributable to PFG for first quarter 2021 of $517.1 million, compared to $288.9 million for first quarter 2020. Net income per diluted share of $1.87 for first quarter 2021 compared to $1.04 […]

    New York Life Launches $1 Billion Impact Investment Initiative to Address Racial Wealth Gap by Investing in Underserved and Undercapitalized Communities over Next Three Years

    {May 4th, 2021} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest1 and most admired2 mutual life insurer, today announced a $1 billion impact investment initiative with the aim to address the racial wealth gap by investing in underserved and undercapitalized communities over the next three years with a focus on supporting small businesses, affordable housing, and community development. The company will […]

    Pacific Life Introduces New Funds Designed to Address Today’s Consumer Needs

    {May 4th, 2021} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life today announced two new portfolios to diversify its variable annuity investment lineup designed to meet today’s consumer needs: PLFA ESG Diversified Portfolio and JPMorgan Hedged Equity Portfolio. Both are available to consumers who purchase certain variable annuities from Pacific Life and are eligible for investment with an optional living benefit. […]

    CNO Financial Group Reports First Quarter 2021 Results

    {May 4th, 2021} by CNO Financial Group, Inc.

    CARMEL, Ind., April 28, 2021 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ending March 31, 2021, net income was $147.4 million, or $1.08 per diluted share, compared to a net loss of $21.2 million, or $0.15 per diluted share, in 1Q20. Net operating income (1) in 1Q21 was $75.2 million, or $0.55 per diluted share, compared to $84.3 million, or $0.58 per diluted share, […]

    Genworth Plans for Return to Long-Term Care Insurance Sales

    {May 4th, 2021} by Allison Bell

    Executives at Genworth Financial Inc. want to work with other companies to get back into the U.S. long-term care insurance (LTCI) market. The Richmond, Virginia-based insurer also wants to team up with China Oceanwide Holdings Group Co. Ltd. — a company that spent more than four years trying to acquire Genworth — to sell long-term […]

    Nationwide to Back Tulsa Race Massacre Centennial Event

    {May 4th, 2021} by Allison Bell

    Nationwide is supporting the 1921 Tulsa Race Massacre Centennial Commission by contributing cash and speakers to the commission’s Economic Empowerment Day conference. The two-day massacre started May 31, 1921. During the massacre, White residents of Tulsa set fire to homes and businesses in the Greenwood District, a neighborhood that had been popular with Black residents […]

    Ameriprise Financial Reports First Quarter 2021 Results

    {May 4th, 2021} by Ameriprise Financial, Inc

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share   Return on Equity, ex AOCI (1)   Q1 2021     Q1 2021 GAAP $3.58   GAAP (1.1)% Adjusted Operating $5.43   Adjusted Operating 29.9% Ameriprise increased its quarterly dividend 9 percent to $1.13 per share First quarter adjusted operating earnings per diluted share was […]

    Halo Investing Launches Annuities Platform, Helping Advisors Generate Reliable Retirement Income for Individual Investors

    {May 4th, 2021} by Halo Investing

    CHICAGO, April 27, 2021 /PRNewswire/ — Halo Investing (“Halo”), the world’s first and only independent, multi-issuer technology platform for structured notes, today announced the launch of its new annuities platform. Built on Halo’s core marketplace, the new centralized marketplace enables financial advisors to explore, transact, and manage annuities in a simplified way. The platform includes numerous annuity options and […]

    Study: Over 9 in 10 financial professionals support the passage of the SECURE Act 2.0

    {May 4th, 2021} by Nationwide

    COLUMBUS, Ohio, May 3, 2021 /PRNewswire/ — A recent Nationwide Retirement Institute® survey of advisors and financial professionals reveals that most are in favor of the proposed Securing a Strong Retirement Act (commonly referred to as SECURE Act 2.0), with 93% supporting its passing and a majority (93%) agreeing that the legislation’s features would financially benefit their clients. This overwhelming support […]

    Insurance Leaders Look In The Mirror

    {May 4th, 2021} by Denise Garth

    It was 1999 and everything about business was changing. The Internet was hot and growing! Ebay and Amazon launched within the previous 4 years. Napster debuted the peer to peer music file sharing network – the precursor to iTunes. It was all about e-business! Fast Company magazine was putting out 300-page monthly issues that covered […]

    Annuities & Taxes

    {May 4th, 2021} by John Williams

    Tax season is often a time when people more seriously consider their future financial plans. Reviewing how their money was spent and saved from the previous year can lead one to consider new options for the future. Add to that the financial uncertainties created by the ongoing pandemic, and many are taking into account income […]

    The Rise of Platforms

    {May 3rd, 2021} by Matt Essick

    The era of the platform economy is here. Actually, it has been here for a decade or longer. Think Apple, Google, Airbnb, Microsoft, Uber, Amazon, Square, LinkedIn, Lyft, Facebook, and Tesla. The majority of the most valuable companies globally are now based on a platform business model, which is defined as: “the creation of digital […]

    Factors Affecting Life Insurance Rates

    {May 3rd, 2021} by Ashley Kilroy, Jason Metz

    If the main reason you don’t have a life insurance policy is that you think it’s too expensive, you are in good company. Almost two-thirds of people who do not have a life insurance policy cited this reason, according to the 2020 Insurance Barometer from LIMRA, an industry-funded research company. Sixty-seven percent of respondents said […]

    New York Best-Interest Rule for Annuity Sales Struck Down

    {May 3rd, 2021} by Melanie Waddell

    The New York best-interest standard for annuity sales was struck down Thursday by the Appellate Division of the New York State Supreme Court for being “unconstitutionally vague.” Formally known as the New York Department of Financial Services’ Amended Regulation 187, Suitability and Best Interests in Life Insurance and Annuity Transactions, the rule is “unconstitutionally vague,” […]

    MassMutual top annuities writer in 2020 as Prudential Financial cuts back

    {May 3rd, 2021} by RJ Dumaual, Kris Elaine Figuracion

    Massachusetts Mutual Life Insurance Co. became the largest writer of annuity products in 2020 amid Prudential Financial Inc.’s move to downsize its presence in the segment. Prudential, which logged annuity considerations above $26 billion in 2019 and 2018, intends to halve its individual annuities business to 10% or less of earnings under a three-year plan […]

    National Life Insurance Day

    {May 3rd, 2021} by National Day Calendar

    National Life Insurance Day each year on May 2nd marks the anniversary of the first day that life insurance became available in the United States. The observance also brings awareness of the benefits of life insurance. The sale of life insurance in the U.S. began in the late 1760s. The Presbyterian Synods in Philadelphia and […]

    N.Y. Supreme Court Overturns Sales Regulations On Annuities And Insurance

    {May 3rd, 2021} by Tracey Longo

    Insurance agents and advisors in the state of New York won a monumental lawsuit today to overturn the state’s best interest sales standard governing the sales of annuities and life insurance on the grounds that the standard was unconstitutional. The New York Supreme Court Appellate Division reversed a 2019 ruling affirming that the New York […]

    Annuities Could Help the Service Industry: Idea File

    {May 3rd, 2021} by Allison Bell

    What You Need to Know: Michael Finke discussed the Those retirees who have enough savings also could use annuities to help into retirement. Retirees with enough savings, but no annuities or pension plans, spend much less than they could afford to spend. Policymakers in Washington might be able to give restaurants, theaters, cruise lines and […]

    Fintech Firm Launches AI-Driven Digital Assistants for Advisors: Tech Roundup

    {May 3rd, 2021} by Jeff Berman

    What You Need to Know: Hearsay Systems appoints industry veteran Matt Newman as its chief customer officer. AssetMark and iCapital Network have launched a customized alternative investment service on the AssetMark platform. Broadridge has integrated the compliance tech firm FundApps’ regulatory compliance technology. The fintech firm CogniCor has launched three new digital assistant modules that […]

    American Equity Declares 2nd Quarter 2021 Preferred Stock Dividends

    {May 3rd, 2021} by American Equity Investment Life Holding Company

    April 30, 2021 06:58 PM Eastern Daylight Time WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), today announced that in accordance with the terms of its 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (the “Series A Preferred Stock”), which is represented by depositary shares, each representing a 1/1,000th interest in a […]

    For Apollo’s New CEO, Insurance Is In—Racy Buyouts, Not So Much

    {May 3rd, 2021} by Miriam Gottfried

    Apollo Global Management Inc. made its name scoring double-digit returns on debt-laden buyouts. Under new Chief Executive Officer Marc Rowan, the firm’s future will become increasingly about finding ways to eke out a few percentage points more than corporate and government bonds pay. The shift reflects Apollo’s evolution from a leveraged-buyout shop to a credit-investing […]

    Can Impaired Risk Underwriting Help You Get Life Insurance?

    {May 3rd, 2021} by Cameron Huddleston and Amy Danise

    Trying to buy life insurance if you have health problems can be like a Catch-22. You need the coverage because of your heightened risk. But it can be difficult to get coverage because you are more of a risk to insure. This is when impaired risk underwriting can help you get the coverage you need. […]

    Broker’s Annuity Strategy Nets $275K Fine For Ohio National Life Subsidiary

    {May 3rd, 2021} by Eric Rasmussen

    An Ohio National Life Insurance subsidiary was fined $275,000 Friday after the Financial Industry Regulatory Authority said one of its top producers recommended unsuitable investment strategies to 76 customers involving variable annuities and whole life policies. Finra is also requiring the subsidiary, the O.N. Equity Sales Company, or ONESCO, to give more than $1 million […]

    Advisor Group seeking nearly $1M in lawsuit against variable annuity firm

    {May 3rd, 2021} by Tobias Salinger

    A lawsuit filed by one of the largest wealth managers against a variable annuity firm offers a glimpse into one of the industry’s most critical and changing conflicts of interest: payments to get a product in front of advisors who might recommend it to clients. Advisor Group is seeking at least $900,000 plus interest and […]

    New DOL Fiduciary Rule Creating ‘Regulatory Whiplash’: Attorneys

    {May 3rd, 2021} by Melanie Waddell

    What You Need to Know: Labor’s recently released FAQ sets out “next steps” on its fiduciary PTE. Labor will institute changes through rulemakings or subregulatory guidance. Compliance costs could reach hundreds of millions of dollars, the Eversheds attorneys say. The Labor Department is setting up “regulatory whiplash” and huge compliance costs by requiring retirement advisors […]

    The Role of Annuities in a Comprehensive Retirement Portfolio

    {May 3rd, 2021} by John Williams

    What You Need to Know: The pandemic has increased the percentage of older workers who say they have retired. Uncertainty about the future has increased. Annuities can help clients shift interest rate risk. The pandemic has given us all historical pause while causing widespread change, especially across the workforce. A 2020 economic study uncovered information that suggests […]

    IRS to Fix Inherited IRA Guidance That Confused Advisors

    {May 3rd, 2021} by Roger Wohlner

    What You Need to Know: The Secure Act changed the inherited IRA rules for most non-spousal beneficiaries. A recent IRS publication created confusion around whether RMDs are required for those beneficiaries covered by the 10-year rule. An example presented by the IRS seemed to show that distributions needed to be taken every year. That’s not […]

    What to Do About the Return of the DOL Rule

    {May 3rd, 2021} by Thomas D. Giachetti

    What You Need to Know: The Department of Labor rule is back — in a new “prohibited transaction exemption.” PTE allows investment advice fiduciaries to receive what would otherwise be prohibited compensation. Until Dec. 20, an investment advice fiduciary can comply by simply adhering to the PTE’s Impartial Conduct Standards. Much to the chagrin of […]

    Robo-Advisors Came to Slay Industry Giants, but Instead Schooled Them

    {May 3rd, 2021} by Timothy Welsh

    What You Need to Know: Robo-advisors have validated human advisors’ ultimate value. VC-backed robo-advisors never gained much traction, and eventually were eclipsed by the incumbents they were trying to disrupt. But there’s no disputing that they’ve forced established industry players to innovate. For a lot of us, the fact that the modern robo-advisor movement is […]

    Why the Current IMO Model Doesn’t Work

    {May 3rd, 2021} by Signal Advisors

    “Annuity commissions paid in one day. Client-facing annual reviews done for you in one click. The first end-to-end platform designed to manage every part of an annuity advisor’s business.” Click HERE to read the full story via INN

    Providing the building blocks of financial literacy training

    {April 27th, 2021} by Tim Ranzetta

    Let me tell you a little about my journey with Jessica Endlich to found Next Gen Personal Finance, a nonprofit organization dedicated to expanding access to financial literacy and personal finance training everywhere. Click HERE to read the full story via InvestmentNews     Wink’s Note:   There are a few things that have fueled my […]

    Carriers Risk Red To Be In The Black, With A Little Bit Of Green

    {April 27th, 2021} by Steve Morelli

    Insurers are taking on risky business as they risk a bit of red ink to cope with more than a decade of low interest rates to get more firmly in the black — and adding a dash of green along the way. Carriers are betting on a boom following the pandemic bust, they are expecting […]

    AM Best Upgrades Credit Ratings of Investors Heritage Life Insurance Company

    {April 27th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating (FSR) to B++ (Good) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb-” of Investors Heritage Life Insurance Company (IHLIC) (Frankfort, KY), which is a subsidiary of Aquarian Investors Heritage Holdings LLC (Aquarian). The outlook of these Credit Ratings (ratings) […]

    Ameriprise Financial Reports First Quarter 2021 Results

    {April 27th, 2021} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share   Return on Equity, ex AOCI (1)   Q1 2021     Q1 2021 GAAP $3.58   GAAP (1.1)% Adjusted Operating $5.43   Adjusted Operating 29.9% Ameriprise increased its quarterly dividend 9 percent to $1.13 per share First quarter adjusted operating earnings per diluted share was […]

    Millennials Defying Financial Stereotypes, Survey Finds

    {April 27th, 2021} by Alan Goforth

    What You Need to Know Millennials weathered both the economic turbulence of 2008 and the ongoing pandemic. The share of millennials who said they had an advisor grew from 50% in 2016 to 75% in 2020. These investors overwhelmingly say they have a plan to protect against market risk and outliving their assets. Millennials weathered […]

    What to Do About the Return of the DOL Rule

    {April 27th, 2021} by Thomas D. Giachetti

    What You Need to Know The Department of Labor rule is back — in a new “prohibited transaction exemption.” PTE allows investment advice fiduciaries to receive what would otherwise be prohibited compensation. Until Dec. 20, an investment advice fiduciary can comply by simply adhering to the PTE’s Impartial Conduct Standards. Much to the chagrin of […]

    Monopoly and Life Insurance

    {April 27th, 2021} by Aaron Ball

    What You Need to Know Hasbro says it’s getting rid of the card for winning a beauty contest. It’s also getting rid of the card for life insurance maturing. The pandemic has another message: Financial preparedness matters. Many families will remember gathering for rousing — and sometimes seemingly endless — games of Monopoly. From being […]

    Life Agents May Face New Login Processes: IRI Conference

    {April 27th, 2021} by Allison Bell

    What You Need to Know About 70% of big life and annuity issuers use multi-factor authentication for customers. Only 40% use multi-factor authentication for distributors. Criminals have used data obtained from P&C agent portals to commit unemployment insurance claim fraud. Many life and annuity issuers need to improve the defenses for distribution-related online systems, according […]

    NAIC Aims to Understand Federal Annuity Sales Standard Regulators: IRI Conference

    {April 27th, 2021} by Allison Bell

    What You Need to Know Ten states have adopted the NAIC’s model update. Eight states are considering adoption. David Altmaier, the NAIC’s president, said regulatory harmonization is a goal, and effectiveness of regulation is also a goal. David Altmaier, the president of the National Association of Insurance Commissioners, said the NAIC is pushing hard to speak to federal […]

    NOTEBOOK – ONE GOOD READ: In this lawsuit, the right hand is suing the left

    {April 27th, 2021} by Joe Gardyasz

    An investment journal that I follow just published an interesting story about an ironic twist embodied in a lawsuit involving an annuity company that bases much of its operations in Des Moines. The story by Investment News magazine illustrates how the right hand can indeed be suing the left, writes Bruce Kelly. “It’s a tale perhaps only […]

    Investors Heritage Life Adds Indexed Product: Annuity Moves

    {April 27th, 2021} by Allison Bell

    What You Need to Know The new Investors Heritage Life annuity can help a couple pay for long-term care. One of the investment indexes may appeal to clients who are interested in environmental sustainability. The ALI-Cannex alliance could lead to new streams of annuity research. Investors Heritage Life Insurance Company has introduced a single-premium, non-variable […]

    USAA Now Offers Guaranteed Issue Whole Life Insurance

    {April 27th, 2021} by I. Mitic

    USAA, the San Antonio-based financial services company, announced the launch of its latest insurance product: Guaranteed Issue Whole Life Insurance. The new product is underwritten by United of Omaha Life Insurance Company and Companion Life Insurance Company, which are affiliates of Mutual of Omaha – an organization offering insurance and financial services. Click HERE to […]

    An Annuity’s ‘Moneyness’? There’s an App for That

    {April 27th, 2021} by R. Michael Markham

    Life insurance companies are using predictive analysis, derived from substantial insurer historical data, as the basis for modeling variable annuity owner behavior (OB). An important metric for predicting OB is the degree to which a contract is “in the money” (ITM).  The insurer is concerned that when the liability (present value of the future estimated […]

    Private equity is buying up annuity and life insurance policies. That may be bad for consumers

    {April 27th, 2021} by Greg Iacurci

    Private equity firms are buying up insurers — and the policies they hold — at a feverish pace. Some groups, namely financial advisors, fear the trend may be bad for consumers who own annuity and life insurance contracts. Click HERE to read the full story via CNBC

    Bringing life insurance into the age of Big Data

    {April 27th, 2021} by Bryan Walsh

    Life insurance is one of the oldest industries in existence, but today it is undergoing a transformation thanks to AI and data science. The big picture: With a business model built on predicting the future of its customers, the life insurance industry seems well-positioned to take advantage of the prognosticative powers of machine learning, but it […]

    7 Ways to Utilize Your Life Insurance Policy’s Cash Value

    {April 27th, 2021} by David Rodeck

    Permanent life insurance policies—like universal, variable and whole life—offer more than a death benefit. Some include cash value, which is a pool of money you can use while still alive.  If you’ve had a policy for years, the cash value could be considerable. “The accumulation could be more than you put in, and this opens up all kinds […]

    Advisor Creates Annuity Solution For Breakaway RIAs

    {April 27th, 2021} by Jacqueline Sergeant

    When Grant Johnstone began his journey to open his registered investment advisor, Johnstone Financial Advisors, in 2015, he did what many breakaway advisors do—turned over the annuities and mutual fund products that could not be ported onto a fee-based RIA platform to a “friendly broker-dealer.” That solution, Johnstone explained, is commonly used by breakaways who […]

    Fidelity National Financial Announces First Quarter 2021 Earnings Release And Conference Call

    {April 27th, 2021} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., April 22, 2021 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title insurance and transaction services to the real estate and mortgage industries, will release first quarter 2021 earnings after the close of regular market trading on Thursday, May 6, 2021. A conference call will follow at 12:00 p.m. Eastern Time on Friday, May 7, 2021. […]

    Pan-American Life Insurance Group Recognized as a U.S. Best Managed Company

    {April 27th, 2021} by Pan-American Life Insurance Group

    NEW ORLEANS, April 26, 2021 /PRNewswire/ — Pan-American Life Insurance Group, a leading provider of life, accident and health insurance throughout the Americas, is proud to announce it has been selected as a 2021 US Best Managed Company. Sponsored by Deloitte Private and The Wall Street Journal, the program recognizes outstanding U.S. private companies and the achievements of […]

    Simplicity Group Welcomes Gregory E. Nemec and Greg A. Nemec as Newest Partners with the Addition of American Financial Network

    {April 27th, 2021} by Simplicity Group

    SUMMIT, N.J., April 20, 2021 /PRNewswire/ — Simplicity Group (“Simplicity”) is pleased to announce that it has added American Financial Network, LLC (“American Financial Network”), a specialty life and annuity insurance distribution business, to the Simplicity Group of companies. As part of this expansion, Simplicity welcomes Gregory E. Nemec and Greg A. Nemec, as its newest partners and shareholders, through a […]

    Simplicity Group and F&G Life Launch “ExecuDex”, Bringing InstApproval and Funding Bonus to Consumers

    {April 27th, 2021} by Simplicity Group

    SUMMIT, N.J., April 22, 2021 /PRNewswire/ — Simplicity Group (“Simplicity”), in partnership with Fidelity & Guaranty Life Insurance Company (“F&G”), is pleased to announce the launch of F&G ExecuDex (“ExecuDex”), a new Fixed Index Universal Life Insurance product that provides great consumer value and the opportunity to get immediate life insurance coverage. ExecuDex features real-time underwriting, which allows […]

    Annuity Adoption Challenges In 401(k) Plans

    {April 27th, 2021} by Burke Johnson

    Annuity……one mention of that word elicits a wide range of opinions such as guaranteed income, rip off, safety net, or “Suze Orman said annuities are bad.” The truth is that annuities have historically played an important retirement planning role for Americans but have seen limited adoption in employer sponsored retirement plans. According to the Plan […]

    You Know You Need It

    {April 27th, 2021} by LIMRA

    The pandemic has highlighted something most people don’t want to think about — what would happen to their loved ones should they unexpectedly die. According to new findings from the 2021 Insurance Barometer Study, conducted annually by LIMRA and Life Happens, 42% of American households would face financial hardship within six months should a wage […]

    Sammons Financial Group Advances Digital Transformation Initiatives with iPipeline

    {April 27th, 2021} by iPipline

    EXTON, Pa.–(BUSINESS WIRE)–iPipeline® – a leading provider of no code / low code cloud-based software solutions for the life insurance and financial services industry, today announced Sammons Financial Group, parent company to Midland National and North American company, advanced its digital transformation initiatives while paramedical exam offices were shut down during the height of the […]

    Insurance Technologies Acquires IXN

    {April 27th, 2021} by Insurance Technologies, LLC

    COLORADO SPRINGS, Colo.–(BUSINESS WIRE)–Insurance Technologies, LLC, a leading provider of sales automation solutions for the life and annuities insurance industries, announces the acquisition of IXN, the leading provider of digital data exchange solutions for the life insurance industry. The combined company will fully integrate both companies’ proven systems to offer the most comprehensive and efficient […]

    FBL Financial Group Special Committee Sends Letter to Shareholders Regarding Proposed Transaction With Farm Bureau Property & Casualty Insurance Company

    {April 27th, 2021} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE:FFG) (“FBL Financial Group”) today sent the following letter to shareholders regarding the previously announced definitive agreement under which Farm Bureau Property & Casualty Insurance Company (“FBPCIC”) will acquire all of the outstanding shares of FBL Financial Group Class A and Class B common stock, excluding shares […]

    Life Regulators Back Away From New Illustration FiLife Regulators Back Away From New Illustration Fight

    {April 20th, 2021} by Allison Bell

    Members of the Life Insurance and Annuities Committee — an arm of the National Association of Insurance Commissioners — appear to be cool to the idea of forming a Life and Annuity Illustration Reengineering Working Group. The committee talked about the illustration working group proposal Monday, during an online session that was part of the […]

    DOL releases guidance on fiduciary investment advice

    {April 20th, 2021} by Editorial Staff

    The Biden Department of Labor evidently wants retirement plan participants to be ready with questions to ask advisers who invite them to roll their plan assets to a brokerage IRA. Two publications remind investors that advisers must put investors’ best interests ahead of their own. Click HERE to read the full story via RIJ

    Life Insurers face “The Great Call”: Larry Rybka

    {April 20th, 2021} by Editorial Staff

    If you’re not exactly celebrating the creative destruction of the life/annuity industry over the past several years, check out the video that Larry J. Rybka, CEO of Valmark Financial Group, posted online this week. Click HERE to read the full story via RIJ

    Best’s Special Report: U.S. Life/Health Insurance Impairments Fall by More Than Half in 2020

    {April 20th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Four U.S. life/health insurance company impairments occurred in 2020, down significantly from 10 in the prior year, according to a new AM Best special report. The Best’s Special Report, titled, “2020 U.S. Life/Health Impairments Update,” states that of the four impaired insurers, two were health insurers placed into insolvent liquidation, including an HMO that offered Medicare […]

    FBL Financial Group Receives Insurance Regulatory Clearance for Proposed Transaction with Farm Bureau Property & Casualty Insurance Company

    {April 20th, 2021} by FBL Financial Group, Inc.

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–FBL Financial Group, Inc. (NYSE: FFG) (“FBL Financial Group” or “the Company”) today announced that the Iowa Insurance Division (the “Division”) has completed its review of the proposed acquisition by Farm Bureau Property & Casualty Insurance Company (“FBPCIC”) of all of the outstanding shares of FBL Financial Group Class A and […]

    The Standard Earns Numerous Honors from 2020 PLANSPONSOR Best in Class Provider Survey

    {April 20th, 2021} by Standard Insurance Company

    PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company, (The Standard) has been awarded multiple honors based on the results of the PLANSPONSOR 2020 Best in Class Provider Survey, an annual survey of approximately 3,000 DC, or defined contribution, plan sponsors across the country. The Standard received 48 Best in Class DC Provider awards and two top-five Net Promoter® […]

    Reliance Standard Agrees to Acquire Top-Tier New York Statutory Insurer

    {April 20th, 2021} by Reliance Standard Life Insurance Company

    PHILADELPHIA–(BUSINESS WIRE)–Reliance Standard Life Insurance Company (Reliance Standard), a member of the Tokio Marine Group, announced it has agreed to acquire Standard Security Life Insurance Company of New York (SSL), a subsidiary of Independence Holding Company (NYSE:IHC), subject to customary closing conditions including regulatory approvals. Once the acquisition is completed, Reliance Standard will be the […]

    AM Best Revises Issuer Credit Rating Outlook to Positive for EquiTrust Life Insurance Company

    {April 20th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb” of EquiTrust Life Insurance Company (EquiTrust) (Chicago, IL). The outlook of the FSR is stable. These Credit Ratings (ratings) reflect […]

    AM Best Affirms Credit Ratings of Ameritas Life Insurance Corp. and Its Subsidiary

    {April 20th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” of Ameritas Life Insurance Corp. (Lincoln, NE) and Ameritas Life Insurance Corp. of New York (New York, NY). These insurance entities comprise the life/health operations of Ameritas Mutual Holding Company (all companies are collectively referred to as Ameritas). Concurrently, […]

    Advisor Authority Reveals Millennials May Not be Retiring Soon–But They are Already Planning for it

    {April 20th, 2021} by Nationwide

    COLUMBUS, Ohio, April 19, 2021 /PRNewswire/ — Coming of age in the wake of 9/11, the Market Crash of 2008 and the Great Recession has impacted Millennials’ financial concerns, investing habits, and future earnings potential.i Add a global pandemic during their prime earning years, and it’s no wonder Millennial investors’ financial optimism declined 24 percentage points to 38% […]

    USAA Life Insurance Company Introduces Guaranteed Issue Whole Life Insurance from Mutual of Omaha

    {April 20th, 2021} by USAA

    SAN ANTONIO and OMAHA, Neb., April 13, 2021 /PRNewswire/ — USAA Life Insurance Company today announced it will begin offering its members a Guaranteed Issue Whole Life insurance solution through a strategic relationship with Mutual of Omaha Insurance Company, a leading provider of life insurance solutions. The new product, offered through USAA Life General Agency, Inc. and underwritten by Mutual […]

    Asset Allocation – The New Playbook

    {April 20th, 2021} by Ben Pahl

    Interest rates reached their highest point in modern history in 1981 when the annual average mortgage interest rate was 16.63%. Savings and CD rates were equally high and the average yield of a 10-year treasury was 13.92%. In 1990, the average mortgage interest rate was 10.13%, falling to 6.94% by 1998. The 2000s saw mortgage […]

    Best’s Special Report: U.S. Life/Annuity Insurers’ Revenue Weakened in 2020

    {April 20th, 2021} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–The emergence of COVID-19 in 2020 added new challenges to publicly traded life/annuity (L/A) insurers and led to a 31% drop in net income to $14.3 billion, according to a new AM Best special report. The analysis in the Best’s Special Report, “U.S. Life/Annuity Insurers’ Revenue Weakened in 2020,” covers a majority of the U.S. L/A […]

    Wealth Gap Widens: COVID-19 Has Exacerbated Economic Inequality in the U.S., According to New TIAA Survey

    {April 20th, 2021} by TIAA

    NEW YORK, April 15, 2021 /PRNewswire/ — More than half of U.S. adults consider their household finances to have changed significantly due to the COVID-19 pandemic, according to a new survey by TIAA. Nearly one third of all Americans (29%) say they are worse off and approximately one quarter (24%) report that they are better off financially. Notably, 37% of […]

    How Common Misconceptions Are Preventing Americans From Getting Life Insurance They Know They Need

    {April 20th, 2021} by 2021 Insurance Barometer Study

    Arlington, Va. and Windsor, Conn., April 12, 2021 – Despite record-high consumer intent in purchasing life insurance, new research finds too many Americans mistakenly feel life insurance is financially out of reach or too difficult to obtain. According to the 2021 Insurance Barometer Study, 36% of consumers say they plan to purchase life insurance within […]

    W&S Financial Group Distributors Introduces 5-Year Duration To Indextra Series FIA

    {April 20th, 2021} by Western & Southern Financial Group

    W&S Financial Group Distributors, Inc., wholesale distributor of annuities and life insurance from member companies of Western & Southern Financial Group, has announced an enhancement to the Indextra Series fixed indexed annuity from Integrity Life Insurance Company.   Indextra now offers a five-year declining withdrawal charge period. Customers selecting it also receive a 105% guaranteed […]

    DOL releases guidance on Trump-era fiduciary rule

    {April 20th, 2021} by Mark Schoeff Jr.

    The Department of Labor released guidance on Tuesday that reinforces that a regulation governing investment advice in retirement accounts will strengthen oversight of rollover recommendations and require investment advisers to mitigate conflicts of interest. Click HERE to read the full story via InvestmentNews

    DOL Issues Fiduciary Rule Guidance, Spells Out Compliance Requirements

    {April 20th, 2021} by Rita Raagas D Ramos

    The Department of Labor issued yesterday guidance on fiduciary investment advice for retirement investors, employee benefit plans and investment advisors. The guidance is for the DOL’s “Improving Investment Advice for Workers & Retirees” rule that took effect in February. The rule provides for an exemption that essentially allows advisors, brokers and other investment professionals and […]

    Annuity providers use fintech to lure advisors amid low rates. Is anyone moving?

    {April 20th, 2021} by Ryan W. Neal

    With no end in sight to historically low interest rates, insurance providers are increasingly using technology to help advisors consider using annuities in client portfolios. But many advisors are instead continuing to pile clients into bonds, where net inflows remain high. SS&C Advent and Envestnet both have digital insurance marketplaces for advisors to access and […]

    Annuity Contract Adviser Fees Ruled Not Amount Received

    {April 20th, 2021} by Theresa Schliep

    Investment advisory fees that an insurance company deducts from a nonqualified deferred annuity contract won’t be considered amounts received as annuities under the federal tax code, the Internal Revenue Service said. Click HERE to read the full story via Law 360

    COVID-19 Mortality Fueled Life Insurance Death Benefits Surge, S&P Says

    {April 20th, 2021} by InsuranceNewsNet Press Release

    The U.S. life insurance industry recorded its largest year-over-year increase in direct and net death benefits in at least 24 years as excess mortality due to COVID-19 triggered an unusual volume of claims during 2020. Aggregate net death benefits across all lines of business rose by 15.1% to $87.51 billion, according to an S&P Global […]

    Life Coverage Gap Grows: 2021 Insurance Barometer Study

    {April 20th, 2021} by Allison Bell

      The percentage of consumers who say they have need live coverage and don’t have it grew to 18%. Women are more likely than men to say they have a life coverage gap. Many of the highest-income survey participants reporting having a gap. The percentage of U.S. adults who say they have a life insurance […]

    The Rise Of The Variables, Part II

    {April 20th, 2021} by Steven A. Morelli

    With all the pressure on fixed products, carriers have been looking over at the variable side of the business. The recent runaway success of registered index-linked annuities, also known as buffered or structured annuities, has inspired insurance companies to consider extending the model to other products. Timothy Pfeifer of Pfeifer Advisory, which advises carriers on […]

    Q1 Life, Health and Annuity Earnings Calendar

    {April 20th, 2021} by Allison Bell

    Here’s a list that gives each insurer’s anticipated earnings release date, along with the stock symbol the company uses to identify itself to investors. (This list will be updated over the next few days, as more earnings release dates come in.) Click on the stock symbol to see the company’s SEC filing page. Click HERE […]

    Offer Clients Annuities

    {April 20th, 2021} by Michael Masor

    Annuities offer retirees the chance to obtain tax-deferred growth and guaranteed income in retirement, and annuities should always be part of a retirement and income specialist’s tool kit. If you frequently sell annuities yourself, you know that. But, amazingly, many advisors don’t discuss annuity products with their pre-retiree clients. For some, it’s because they have […]

    Annuities: Your Bridge To Social Security

    {April 20th, 2021} by Taylor Tepper

    Too many Americans don’t have enough money saved for retirement. This makes understanding how to stretch limited retirement resources of paramount importance. To illustrate how you can maximize a modest nest egg, I’d like you to meet Steve. He’s an entirely hypothetical retiree, but we’ll use Steve’s case to outline a workable strategy for planning […]

    Big Data Carries Big Potential For Insurance Discrimination, Regulators Say

    {April 20th, 2021} by John Hilton

    The growth of analytics, artificial intelligence and Big Data capabilities created a monster of sorts with many legal and ethical ramifications in the insurance world. Regulators and lawmakers have been busy trying to stay one step ahead of potential trouble with the technology. LIMRA hosted a panel discussion on these topics Tuesday titled “Regulation of […]

    What Record Mortality Rates Mean For The Life Insurance Industry

    {April 20th, 2021} by Susan Rupe

    The U.S. hit a sad record in 2020, with deaths reaching more than 3 million for the first time. Not all deaths were from COVID-19. Many were the result of heart disease, deferred health care and suicide. There also were increases in accidental death. Click HERE to read the full story via INN

    A Debate on Whether RIAs Should Use Annuities in Retirement Plans

    {April 20th, 2021} by David Lau and Christine D. Moriarty

    One of the most contentious topics among RIAs is whether to recommend annuities. While many will recommend a single-premium immediate annuity (a SPIA) or a deferred-income annuity (a DIA), those products represent only a small fraction of annuity sales. We are here to talk about whether RIAs should use the other 95% of annuity products […]

    Annuity Literacy – New Book Explains Why Consumers Should Discover the Power of Annuities (financialverse.com/annuity)

    {April 20th, 2021} by FinancialVerse

    Older Americans are facing an income crisis and are scrambling to generate income from accumulated assets. Annuity products can help but are not understood.   Annuity products are great tools to help generate the income Americans need to fund their spending as they age. This book gives potential buyers an objective source of information.” — […]

    7 Reasons Why Annuities Have More Value in 2021

    {April 20th, 2021} by Harry N. Stout

    Have you noticed the increased interest in annuity products this year? This increased interest is coming from both consumers and financial professionals. Why is this happening? Why now? I think there are seven common sense reasons for this awakening. These reasons have their roots in demographics, the economic environment and recent product innovations. Let’s explore […]

    Prudential Financial Weighs Sale of Its Retirement Arm

    {April 20th, 2021} by Matthew Monks and Lananh Nguyen

    Prudential Financial Inc. is exploring a sale of the bulk of its retirement business, which could fetch more than $2 billion, according to people familiar with the matter. The Newark, New Jersey-based life insurer is working with a financial adviser to find buyers for its so-called full-service solutions business, said one of the people, who […]

    Tips for choosing the right annuity plan

    {April 20th, 2021} by Ronald Lipman

    Q: I would like your thoughts about annuities. My husband is looking into putting his money from a savings account into an annuity. I have heard from friends that annuities are not a good investment. I will tell you he lost our retirement funds in the 2008 stock market crash. He is 80 years old […]

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