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  • Bloomberg Launches First of its Kind Global Momentum Strategy Index

    {October 3rd, 2023} by Bloomberg

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

    Farmers Life Insurance Company Introduces Its Harvest™ Fixed Index Annuity

    {October 3rd, 2023} by Farmers Life Insurance

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

    John Hancock Unveils Hybrid Indexed Life Product for the Worksite

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

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

    You Have Gaps to Close

    {October 3rd, 2023} by Allison Bell

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

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

    {October 3rd, 2023} by Gregg Greenberg

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

    Why Are We Averse to Annuities?

    {October 3rd, 2023} by Jessica Bebel

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

    Americans Strongly Opposed to AI Insurance Agents, Survey Finds

    {October 3rd, 2023} by GetSure

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

    Delaware Life Marketing Announces New President and CEO, Colin Lake

    {October 3rd, 2023} by Group 1001

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

    SEC Proposes Tightening RILA Registration

    {October 3rd, 2023} by Melanie Waddell

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

    Bill Could Limit Treasury Unit’s Ability to Probe Insurers

    {October 3rd, 2023} by Allison Bell

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

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

    {October 3rd, 2023} by Allison Bell

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

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

    {October 3rd, 2023} by Allison Bell

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

    How annuities optimize retirement income

    {October 3rd, 2023} by Susan Rupe

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

    Brighthouse Financial Announces Conference Call to Discuss Third Quarter 2023 Results

    {October 3rd, 2023} by Brighthouse Financial, Inc

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

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

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

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

    Jackson to Report Third Quarter 2023 Financial Results

    {October 3rd, 2023} by Jackson Financial Inc.

    LANSING, Mich.–(BUSINESS WIRE)–Jackson Financial Inc.1 (NYSE: JXN) (Jackson®) will announce financial results for the third quarter ended September 30, 2023, after market close Wednesday, November 8, 2023. Jackson’s press release and supplemental financial materials will be available at investors.jackson.com. Jackson will host a conference call and webcast Thursday, November 9, 2023, at 10 a.m. ET to review […]

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

    {October 3rd, 2023} by Lincoln Financial Group

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

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

    {October 3rd, 2023} by AM Best

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

    Life Insurance Exchange Rules Confuse Firms, Could Cost Them

    {October 3rd, 2023} by Caleb Harshberger

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

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

    {October 3rd, 2023} by RetireOne

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

    Brickell Insurance Holdings to Sell Merit Life Insurance Co.

    {October 2nd, 2023} by Brickell Insurance Holdings

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

    Deviled eggs and FIA annual reset — who knew?

    {October 2nd, 2023} by Jeff Barnes

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

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

    {October 2nd, 2023} by Northwestern Mutual

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

    Why Corebridge Embraces Term Life

    {October 2nd, 2023} by Allison Bell

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

    Too Heavy in Stocks? Annuities Could Be a Rebalancing Option

    {October 2nd, 2023} by Kevin Nuss

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

    VUL is a Swiss Army knife for small-business owners

    {October 2nd, 2023} by Hector Martinez

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

    Building success on a history of experience — With Eric Henderson

    {October 2nd, 2023} by Paul Feldman

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

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

    {October 2nd, 2023} by Tobias Salinger

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

    Hexure Acquires Vive

    {October 2nd, 2023} by Hexure

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

    AuguStar(SM) Life expands distribution and marks entry into the brokerage channel

    {September 26th, 2023} by AuguStar Life

    CINCINNATI, Sept. 20, 2023 /PRNewswire/ — AuguStarSM Life, a Constellation company, announces it has entered the brokerage channel, further expanding its distribution footprint. This strategic move is part of AuguStar Life’s ongoing commitment to offering a wide range of top-tier insurance products to a broad range of financial professionals and their clients. AuguStar Life is building on a […]

    Private Equity-Backed Insurance Distributors Are Still Shopping

    {September 26th, 2023} by Allison Bell

    One of the private equity leaders supporting a vast wave of life, health and annuity agency purchases says the buyers still have cash they can use to make deals. Edward Shahnasarian, a managing director in the Financial Technology & Services area at Thomas H. Lee Partners (THL), estimated Tuesday, in an email interview, that companies like […]

    AmeriLife Wealth Announces New Distribution Growth and Wealth Transformation Division

    {September 26th, 2023} by AmeriLife Group, LLC

    LEARWATER, Fla. | September 19, 2023 09:00 AM Eastern Daylight Time  AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing life and health insurance, annuities, and retirement planning solutions, today announced the formation of Distribution Growth and Wealth Transformation, a newly created division within AmeriLife Wealth designed to support business development and organic growth, and […]

    U.S attorney alleges obstruction, seeks stiffer sentence for ‘Annuity King’

    {September 26th, 2023} by John Hilton

    Government prosecutors are waging an escalating battle of obstruction charges against Phillip Roy Wasserman as a Florida judge prepares to sentence the former “Annuity King” on fraud charges. U.S. Attorney Roger B. Handberg filed a presentencing report with the District Court for the Middle District of Florida detailing a lengthy list of obstruction allegations against […]

    Why aren’t more women buying life insurance?

    {September 26th, 2023} by Ayo Mseka

    So what’s preventing more women from buying life insurance? That was the main question and topic for advice during a recent LinkedIn event. Executives from LIMRA and LOMA shared some useful insights into women’s ownership of life insurance and suggested a few steps advisors can take to persuade them to obtain life insurance or to […]

    Colorado Regulators Approve Life Insurance AI Rules

    {September 26th, 2023} by Allison Bell

    The Colorado Division of Insurance has approved a closely watched regulation that could affect how life insurers use outside vendors’ artificial intelligence systems, and any other outside sources of data or analytical technology, in life insurance underwriting. The new regulation prohibits life insurers from using data and tech from outside sources in a way that […]

    5 Trends Defining Success in the Life and Annuity Industries

    {September 26th, 2023} by Christopher Boorman

    The high inflation environment has consumers reevaluating their insurance and investments. As more financial services are transacted online, it gets easier to switch providers. These circumstances pressure the insurance and annuity industry and their advisors to find new opportunities for revenue generation, customer retention and satisfaction. Here’s what insurers you work with must keep in […]

    Goldman Sachs Sees the Birth of New Types of Annuities

    {September 26th, 2023} by Allison Bell

    Goldman Sachs analysts have spotted shadows of new types of annuities, or annuity-like products, spawning. The firm gives a glimpse of the children of today’s annuities in a summary of results from a survey of 138 annuity market players at 30 insurers. Click HERE to read the full story via ThinkAdvisor

    John Hancock and Talcott Re Face Lawsuits Tied to 2017 Tax Cuts

    {September 26th, 2023} by Allison Bell

    Attorneys with Susman Godfrey have filed two federal lawsuits that could affect what happens to life insurance policy cost-of-insurance charges when tax rules change. In the suits, filed on behalf of policy owners against John Hancock and Talcott Re, the plaintiffs contend that insurers should have used the Tax Cuts and Jobs Act of 2017 […]

    Life Insurance Awareness Month: Why It Should Be a Year-Round Event

    {September 26th, 2023} by Bob Mittel

    September is traditionally celebrated as Life Insurance Awareness Month, a time when individuals are encouraged to review their life insurance needs and assess their financial protection. While this annual event is essential, maybe it’s time to consider why it should be a year-round initiative focused on enhancing financial wellness and assisting clients in meeting all […]

    For 33rd consecutive year, Northwestern Mutual achieves highest-available financial strength ratings

    {September 26th, 2023} by Northwestern Mutual

    All four major ratings agencies recognize Northwestern Mutual as industry standout  MILWAUKEE, Sept. 21, 2023 /PRNewswire/ — For more than 165 years, Northwestern Mutual’s superior financial strength has meant that policyowners can always count on the company to be there whenever they need. And recently, that proud legacy continued as AM Best, one of the nation’s leading financial […]

    Transamerica to Collaborate with Bestow to Enhance Financial Protection Offerings

    {September 26th, 2023} by Transamerica

    BALTIMORE, Sept. 19, 2023 /PRNewswire/ — Transamerica is pleased to announce its strategic partnership with Bestow, a leading technology company in the life insurance industry. Together, Transamerica and Bestow will offer customers an intuitive digital platform with enhanced self-service options for Transamerica’s life insurance products. Transamerica and Bestow have aligned behind the mission to empower people to […]

    Legacy Protectors Life Group Expands Holistic Insurance Offerings by Partnering with Integrity

    {September 26th, 2023} by Legacy Marketing Group

    Joining the Integrity partner platform offers agency of young, dynamic leaders an opportunity to expand through access to exclusive technology and mentorship of industry leaders DALLAS, Sept. 19, 2023 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has partnered […]

    F&G Annuities & Life to Host Investor Day on October 3, 2023

    {September 26th, 2023} by F&G Annuities & Life, Inc.

    DES MOINES, Iowa, Sept. 21, 2023 /PRNewswire/ — F&G Annuities & Life, Inc. (NYSE: FG) (“F&G” or “Company”), a leading provider of insurance solutions serving retail annuity and life customers and institutional clients, today announced that it will host an Investor Day in New York City on Tuesday, October 3, 2023.  The event will feature presentations from F&G’s senior leadership team […]

    58% of Americans say they’d consider post-retirement employment to seek personal fulfillment: new Empower research

    {September 26th, 2023} by Empower

    GREENWOOD VILLAGE, Colo., Sept. 21, 2023 /PRNewswire/ — Over half (58%) of Americans (64% of Baby Boomers and Gen Xers) may be in the job market post-retirement, and are open to working indefinitely – but the reasons aren’t purely financial according to new research from Empower, a leader in financial planning, investing, and advice. Would-be working retirees are motivated […]

    Lincoln Financial Group Partners with UNCF to Launch a Scholar Development Program

    {September 26th, 2023} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group’s (NYSE: LNC) Lincoln Financial Foundation and UNCF (United Negro College Fund) have partnered to establish the UNCF Lincoln Financial Scholars Program – a competitive career development program, focused on students studying at historically Black colleges and universities (HBCUs). The program was developed as part of Lincoln’s steadfast commitment to diversity, […]

    DPL Financial Partners acquiring AnnuityFix to help breakaway advisors retain annuity assets and better serve clients

    {September 26th, 2023} by DPL Financial Partners

    LOUISVILLE, Ky.–(BUSINESS WIRE)–DPL Financial Partners, the leading commission-free insurance platform for RIAs, today announced that it is acquiring AnnuityFix and its affiliated broker-dealer, Johnstone Brokerage Services. The acquisition enhances DPL’s Breakaway Accelerator program, which allows financial advisors to transition their legacy annuity business to a fee-based business model, enabling many to go completely independent. DPL […]

    Upstream Life Insurance Company Announces $300 Million Transaction with Antarctica Capital

    {September 26th, 2023} by Upstream Life Insurance Company

    NEW YORK–(BUSINESS WIRE)–Upstream Life Insurance Company (the “Company”) announced that they have entered into an agreement under which the Company may cede up to $300 million of fixed annuity statutory reserves to Antarctica Capital. The reinsured block may consist of certain durations of the Company’s Secure Legacy MYGA statutory reserves over the 2023 and 2024 […]

    AM Best Affirms Credit Ratings of Kansas City Life Insurance Company and Its Subsidiaries

    {September 26th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of Kansas City Life Insurance Company (KCL) (Kansas City, MO) [OTCQX: KCLI]. The outlook of these Credit Ratings (ratings) is negative. Additionally, AM Best has affirmed the FSR of B++ (Good) […]

    Best’s Special Report: First-Half 2023 Net Income in U.S. Life/Annuity Insurance Industry Declines by More Than 39%

    {September 26th, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Net income for U.S. life/annuity (L/A) insurance industry decreased by 39.5% in the first half of 2023, dropping to $13.2 billion from $21.9 billion in the same prior-year period, according to a new AM Best report. This financial review is detailed in a new Best’s Special Report, titled, “First Look: Six-Month 2023 U.S. Life/Annuity Financial Results,” and […]

    DPL Financial Partners acquiring AnnuityFix to help breakaway advisors retain annuity assets and better serve clients

    {September 26th, 2023} by DPL Financial Partners

    Founder Grant Johnstone joins RIA insurance platform as CCO LOUISVILLE, KY, September 20, 2023 – DPL Financial Partners, the leading commission-free insurance platform for RIAs, today announced that it is acquiring AnnuityFix and its affiliated broker-dealer, Johnstone Brokerage Services. The acquisition enhances DPL’s Breakaway Accelerator program, which allows financial advisors to transition their legacy annuity […]

    Faith-Based Advisors Seek Freedom to Be Their Full Selves at Work

    {September 26th, 2023} by Brianna Monsanto

    When Robert Netzly, chief executive officer of Inspire Investing, became interested in biblically responsible investing — a strategy that uses biblical morals and values to guide investment choices — and found that his then broker–dealer lacked products that aligned with this strategy, he felt he had two options: leave the industry or go independent. Click HERE to […]

    IAA Asks the SEC to Redefine ‘Small Advisor

    {September 26th, 2023} by Patrick Donachie

      The Investment Adviser Association wants the SEC to rethink how it classifies small businesses, a longstanding grievance that has gained new resonance in light of “the ongoing burden of regulations piling on top of each other,” according to its chief lawyer. IAA President and CEO Karen Barr sent a rulemaking petition to the commission this week, urging […]

    CFO Daily

    {September 26th, 2023} by Shawn Tully

    Good morning. Fortune senior correspondent Shawn Tully here.  Recently I spent time in the Manhattan offices of Apollo Global Management working on an in-depth look into CEO Marc Rowan’s ideas about where the investment world is heading. Nicknamed inside Apollo as “the professor,” Rowan, who is “slight of build and sporting an open-collared white shirt, describes his […]

    Legacy Marketing Group® Announces Addition of the S&P 500® IQ Index for Use With FIAs

    {September 19th, 2023} by Legacy Marketing Group

    PETALUMA, Calif.–(BUSINESS WIRE)–Legacy Marketing Group today announced the addition of S&P Dow Jones Indices’ S&P 500 IQ Index* for licensed use with fixed indexed annuities (FIAs). This index aims to provide exposure to the S&P 500 while applying an intraday volatility control mechanism. By choosing S&P DJI’s S&P 500 IQ Index for use with FIAs, […]

    Northwestern Mutual doubles down on commitment in the fight against childhood cancer, reignites social media #LemonTopChallenge for Childhood Cancer Awareness Month

    {September 19th, 2023} by Northwestern Mutual

    MILWAUKEE, Sept. 14, 2023 /PRNewswire/ — Every day, more than 1,000 children worldwide are diagnosed with childhood cancer. Today Northwestern Mutual, a leading financial services company, announced it is recommitting its efforts to help fund further research and provide support to patients, survivors and families through additional investments, a social media challenge and local activations in honor of Childhood […]

    Simplicity Continues Impressive Growth with the Acquisition of The Dempsey Companies

    {September 19th, 2023} by Simplicity Group

    SUMMIT, N.J., Sept. 18, 2023 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”) today announced the acquisition of The Dempsey Companies (“Dempsey”), comprised of insurance and securities businesses that operate under the Dempsey brand. With this transaction, Kay Dempsey becomes a Simplicity Partner. “We are thrilled to welcome Kay Dempsey and her team, who are nationally recognized for their years of service, […]

    Invictus Marketing Solutions Joins Integrity to Offer Industry-Leading Technology Solutions for Agents

    {September 19th, 2023} by Integrity Marketing Group, LLC

    Leading IMO partners with Integrity to create greater efficiencies for agents and utilize full-stack insurtech platform to accelerate growth DALLAS, Sept. 14, 2023 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has partnered with Invictus Marketing Solutions (“Invictus”), a leading independent […]

    Northwestern Mutual Research Shows that Nearly Half of American Millionaires Believe Their Financial Plans Need Improvement, and a Third Think They Could Outlive Their Savings

    {September 19th, 2023} by Northwestern Mutual

    MILWAUKEE, Sept. 12, 2023 /PRNewswire/ — Wealthy Americans don’t sit back and assume they have nothing to be concerned about financially, according to the latest findings from Northwestern Mutual’s 2023 Planning & Progress Study. U.S. adults aged 18+ with more than $1 million in investable assets are active, disciplined long-term planners who take very little for granted: nearly half (47%) […]

    Senior Market Sales® Adds EMG Insurance Brokerage to Growing Network of Health and Wealth Companies

    {September 19th, 2023} by Senior Market Sales

    OMAHA, Neb., Sept. 12, 2023 /PRNewswire/ — Senior Market Sales® (SMS), one of the industry’s premier insurance marketing organizations (IMOs), has acquired EMG Insurance Brokerage, one of the oldest and most well-respected IMOs in the country. SMS President Jim Summers touted the new partnership as a major win for SMS and parent company Alliant Insurance Services as they build a network […]

    Sammons Financial Group Employees Deliver $175,000 to Area Charities

    {September 19th, 2023} by Sammons Financial Group

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Sammons® Financial Group, Inc. announced the results of its annual Community Outreach Program. The initiative, started in 2018, empowers employees to nominate their favorite local charities each spring. The employees who choose to make nominations are then given the opportunity to educate their coworkers on the mission of the organization and why they […]

    Diverse Investors Warm to Financial Advice

    {September 19th, 2023} by The Allianz Life Insurance Company of North America

    MINNEAPOLIS–(BUSINESS WIRE)–The Allianz Life Insurance Company of North America (Allianz Life) 2023 annual consumer survey of Americans’ views on retirement planning found that diverse Americans are re-engaging with professional financial advisors in 2023, rebounding from a drop reported in 2022. Allianz Life found that 36% of Black Americans reported having a professional financial advisor in […]

    Does low knowledge of annuities help explain low adoption among advisors?

    {September 19th, 2023} by David Blanchett

    As advisors’ knowledge about annuities increases, so does their perception of these products. Click HERE to read the full story via InvestmentNews   Wink’s Moore on the Market:  My buddy David Blanchett is dropping some annuity knowledge this morning. Recent research indicates “advisors with low knowledge of annuities don’t think there is interest and therefore demand for […]

    “Insurancism”

    {September 19th, 2023} by Michelle Richter-GordonMichelle Richter-Gordon

    In the InsuranceNewsNet article below, John Hilton accurately cites me as saying: “We [insurance experts] deserve parity with financial professionals,” MRG said. “We deserve ‘insurance advisement’ as an additional regulatory frame that could be used just as financial professionals may hold both a brokerage [noun-sale] and advisement [verb-sale] affiliation.”  

    Sound Investments: 31 rap/R&B songs about money and wealth

    {September 19th, 2023} by Justin L Mack

    In the immortal words of legendary rapper, actor and Future Proof Festival headliner Method Man, “cash rules everything around me.” To close out the summer with a bang — and plenty of head nods — the staff of Financial Planning has spent some of September crafting our inaugural “Sound Investments” playlist series. Released every Friday of the month, the […]

    Does Life Insurance Cover Suicide?

    {September 19th, 2023} by Barbara Marquand

    Along with the profound and painful questions that follow the loss of a loved one from suicide, there are practical and financial issues to address, too. If the loved one had life insurance, a common question is whether the policy will still cover the death. In general, there is coverage if your loved one: Had […]

    Salt Financial and Nasdaq Expand Nasdaq-100 Volatility Control Indexes Suite for Insurance Companies: An Alternative for Fixed Index Annuities

    {September 19th, 2023} by Salt Financial and Nasdaq

    GREENWICH, Conn., Sept. 18, 2023 /PRNewswire/ — Salt Financial and Nasdaq, Inc. are proud to announce the launch of the Nasdaq-100 Volatility Control™ Indexes, designed exclusively for insurance companies. This suite expands the existing offering to include additional volatility targets to help solidify its position as a versatile solution for insurance companies looking to offer access to the […]

    NC regulators release $1.2B from former Lindberg insurers in receivership

    {September 19th, 2023} by John Hilton

    North Carolina regulators are releasing funds to long-suffering policyholders who own life insurance and annuities with insurers formerly controlled by Greg Lindberg. The insurers are now in receivership as regulators and investigators continue to unravel Lindberg’s complex web of companies and investments. Lindberg faces several counts of fraud and attempted bribery of North Carolina Insurance […]

    DOL not done defending existing investment advice rules in court

    {September 19th, 2023} by John Hilton

    Just days after sending its new fiduciary rule out for review, the Department of Labor alerted a Texas judge that it isn’t done defending the legality of existing rules. The DOL filed a brief reiterating its defense of investment advice rules published during the Trump administration. Those rules were sued in Florida and Texas upon taking effect […]

    DOL fiduciary rule likely to tinker with popular exemption, analysts say

    {September 19th, 2023} by John Hilton

    In a world where regulations and rules come and go at a dizzying pace, Prohibited Transaction Exemption 84-24 achieved legendary status in the life insurance and annuity space. Created in 1977 and amended several times over the years, PTE 84-24 allows producers to receive commissions when retirement plans and IRAs purchase insurance and annuity contracts. […]

    John Hancock steps up redefining life insurance with ‘Longevity Symposium’

    {September 19th, 2023} by John Forcucci

    BOSTON – Beginning in 2018, John Hancock turned life insurance on its head by making the act of buying life insurance as much about living a longer and healthier life as about preparing for death. Yesterday, the company, a unit of Toronto-based Manulife, took yet another step on this journey, hosting its first Longevity Symposium in its […]

    LIMRA: Record number of Americans plan to purchase life insurance

    {September 19th, 2023} by John Hilton

    The life insurance story in the United States is some good news offset by a little bit of bad news. First, the bad news: Just 52% of U.S. adults report having life insurance, down from 63% in 2011, LIMRA reported. On the plus side, a record-high number of Americans (39%) say they plan to purchase […]

    Life Happens celebrates 20th Life Insurance Awareness Month with a focus on single parents

    {September 19th, 2023} by Life Happens

    Washington, D.C. — Life Happens, a national nonprofit committed to educating people about the importance of life insurance, is celebrating the 20th anniversary of Life Insurance Awareness Month this September. This annual initiative helps people understand the key role life insurance plays in a financially secure future and that it is both affordable and easy […]

    Annuity Constraints Can Be the Client’s Friend

    {September 19th, 2023} by Allison Bell

    Keeping something like the current annuity surrender charge system could work better for many clients than trying to develop new contracts without any restrictions on what clients do with their money. Mike Reidy, head of RIA distribution at Security Benefit, included that suggestion in a recent email interview. One question was about the ultimate outcome […]

    Finseca: September is Life Insurance Awareness Month

    {September 13th, 2023} by Finseca

    WASHINGTON, Sept. 11, 2023 /PRNewswire/ — September is Life Insurance Awareness Month and the perfect time for you to think about your financial security plan. Life insurance is often overlooked, despite it being a fundamental component of a sound financial strategy. Whether you’re looking to cover your final expenses, pay off debts, provide for your family, or leave […]

    Industry accuses SEC of ‘outright hostile’ regulatory approach to technology

    {September 13th, 2023} by John Hilton

    Industry trade organizations blasted the Securities and Exchange Commission’s “continued war on technology” in a comment letter addressing a new SEC rule proposal. Thirteen trade and industry groups, including the U.S. Chamber of Commerce, signed the Monday letter urging the SEC to withdraw its proposed rule, Conflicts of Interest Associated with the Use of Predictive […]

    DOL sends new fiduciary rule to the White House for review

    {September 13th, 2023} by John Hilton

    The Department of Labor sent its long-delayed fiduciary rule rewrite to the White House Office of Management and Budget late Friday. The move signals that the DOL has completed the rule, although its details are still unknown. OMB is charged with reviewing all rules for compliance with administration goals and budgetary priorities.  Click HERE to […]

    U.S. Life Application Activity Inched Higher in August: MIB

    {September 13th, 2023} by Allison Bell

    U.S. individual life insurance application activity continued to be stronger for younger consumers than for older consumers in August, and the overall level of year-over-year change was an increase of 1.8%, according to MIB Group. MIB is an organization that helps life insurers with the underwriting process. It uses its application processing activity levels to […]

    MassMutual’s Digital Agency Makes Distribution Deals

    {September 13th, 2023} by Allison Bell

    Haven Life is ignoring the recent gloom about insurance technology companies and adding distribution relationships. MassMutual’s New York-based digital life insurance agency announced two new distribution alliances Monday. Click HERE to read the full story via Think Advisor

    10 States Where Annuity Sales Rules Still Look Different

    {September 13th, 2023} by Allison Bell

    Ateam at the National Association of Insurance Commissioners has posted a new map that hints at whether the U.S. Securities and Exchange Commission will get a new chance to regulate fixed annuities in at least some states. Drafters created the map to show which states have adopted the 2020 update to the NAIC’s Suitability in […]

    TIAA Thought Leader Goes Solo to Help Advisors Use Annuities

    {September 13th, 2023} by John Manganaro

    This week, former TIAA managing director Tamiko Toland took to LinkedIn to announce the launch of a new consulting practice exclusively focused on helping the advisor industry better utilize annuities, both in the institutional retirement plan and retail advice settings. “Whether the focus is product development, concept framing or ‘nerdy marketing,’ please reach out!” Toland […]

    Prudential, Warburg Pincus Team Up to Back New Reinsurer

    {September 13th, 2023} by Allison McNeely

    Prudential Financial Inc. and Warburg Pincus are among investors that contributed a combined $1 billion of equity to create a Bermuda-based reinsurer, Prismic Life Reinsurance Ltd. In its first deal, Prismic is taking on $10 billion of structured settlement annuity contracts from Prudential, freeing up capital for it to write new insurance business. The transaction […]

    Jamie Hopkins to Exit Carson Group

    {September 13th, 2023} by Jeff Berman

    Jamie Hopkins is stepping down as Carson Group managing partner of wealth solutions at the end of September to join a local firm closer to home in October, where he will be able to spend more time with family and less time traveling, he told ThinkAdvisor on Tuesday morning. Hopkins, who declined to name the […]

    Symetra Named a Fortune 2023 Best Workplace in Financial Services and Insurance™

    {September 13th, 2023} by Symetra

      September 11, 2023 12:00 PM Eastern Daylight Time BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company announced that Fortune® magazine and Great Place to Work®, the global authority on workplace culture, have recognized Symetra as one of the 2023 Best Workplaces in Financial Services and Insurance™. Symetra was among the top 50 organizations in the best large […]

    Agam Capital Advises PFI in Its Formation and Launch of Prismic Life Reinsurance, Ltd.

    {September 13th, 2023} by Agam Capital Management, LLC

    TEANECK, N.J. & NEWARK, N.J. & HAMILTON, Bermuda–(BUSINESS WIRE)–Agam Capital (“Agam”), an analytics driven platform strategically partnering with insurance companies to explore opportunities to enhance their financial flexibility, is advising Prudential Financial, Inc. (“PFI”), a US-based global financial services leader and premier active global investment manager, in the formation and launch of Prismic Life Reinsurance, […]

    Prudential Financial, Inc. and Warburg Pincus announce launch of Prismic Life Re

    {September 13th, 2023} by Prudential

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE: PRU) (Prudential) and Warburg Pincus today announced the launch of Prismic Life Reinsurance, Ltd. (Prismic), a licensed Class E Bermuda-based life and annuity reinsurance company. Prudential and Warburg Pincus, together with a group of investors, have agreed to make equity investments in Prismic and will oversee its long-term strategy through participation […]

    Lincoln Financial Group shares three actions consumers can take now to prioritize protection during Life Insurance Awareness Month

    {September 13th, 2023} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Consumers report that taking care of their families financially is a top priority, yet 68% are prioritizing other financial goals or investments ahead of life insurance, according to new research from Lincoln Financial Group1 (NYSE: LNC). During Life Insurance Awareness Month throughout September, Lincoln Financial is offering three actions consumers can take now to make life […]

    Delaware Life Accelerator Prime® Variable Annuity Named Barron’s Best Annuities and Due Diligence Works’ #1 Annuity for Income

    {September 13th, 2023} by Group 1001

    WALTHAM, Mass., Sept. 6, 2023 /PRNewswire/ — The Delaware Life Accelerator Prime® Variable Annuity (the APVA) has been named Best Annuities: Guaranteed Income with Some Flexibility, Liquidity, and Growth Potential by Barron’s. The list includes “annuities with the most competitive payouts or guarantees, all offered by insurers with top credit ratings.” The article highlights the APVA as a standout. This is […]

    Advisor Focus: Preparation, Not Prediction

    {September 13th, 2023} by Doug Wolff

    Financial advisors and their clients should have a continual focus on portfolio preparation, and not so much on prediction, as we look ahead to 2024 and beyond. Protecting clients’ assets by rethinking 60/40 portfolios and utilizing products that offer risk protection can help weather a variety of potential market outcomes. This is especially important for […]

    UCL Financial Group reaches 100-year milestone

    {September 13th, 2023} by Ameritas

    LINCOLN, Neb., Sept. 11, 2023 /PRNewswire/ — UCL Financial Group is celebrating its 100th anniversary this year, marking a historic achievement for the Memphis-based agency. Throughout its history, the UCL Financial Group has had an impact on its clients’ lives and continues as a business that can be reliable for generations. From working with farmers in the Mississippi Delta during […]

    The Penn Mutual Life Insurance Company named to 2023 Best Workplaces in Financial Services & Insurance List

    {September 13th, 2023} by Penn Mutual

    HORSHAM, Pa., Sept. 12, 2023 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, is proud to be selected by Great Place To Work® and Fortune for the 2023 Fortune Best Workplaces in Financial Services & Insurance™ List. This is Penn Mutual’s first time being named to this prestigious list. Penn Mutual is ranked among the […]

    Simplicity Acquires Breakthrough Insurance Group and Welcomes Tim Kelly as Partner

    {September 13th, 2023} by Simplicity Group

    SUMMIT, N.J., Sept. 6, 2023 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”) today announced that it has acquired Breakthrough Insurance Group (“BIG”), a New Jersey-based full-service life, annuity, and long-term care insurance general agency. With this deal, Tim Kelly becomes Simplicity’s newest Partner. “Tim has built a strong team who will immediately benefit from access to Simplicity’s array of carriers, […]

    Annuity Riders, Explained

    {September 13th, 2023} by Roger Wohlner

    Annuity riders are add-ons that can be used to enhance and customize the benefits of an annuity contract to better align the contract with your client’s needs. There are a variety of annuity riders available across the insurance industry. However, not all riders are available from every company or for all types of annuity contracts. […]

    Penn Mutual expands offerings with Survivorship Protection Variable Universal Life

    {September 13th, 2023} by Penn Mutual

    HORSHAM, Pa. , Sept. 6, 2023 /PRNewswire/ — The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, has announced the addition of Survivorship Protection Variable Universal Life (SPVUL). Issued through Penn Mutual’s wholly-owned subsidiary, The Penn Insurance and Annuity Company, this last-survivor permanent life insurance product provides guaranteed lifetime protection for two people plus the […]

    Delaware Life Accelerator Prime® Variable Annuity Named Barron’s Best Annuities and Due Diligence Works’ #1 Annuity for Income

    {September 13th, 2023} by Group 1001

    WALTHAM, Mass., Sept. 6, 2023 /PRNewswire/ — The Delaware Life Accelerator Prime® Variable Annuity (the APVA) has been named Best Annuities: Guaranteed Income with Some Flexibility, Liquidity, and Growth Potential by Barron’s. The list includes “annuities with the most competitive payouts or guarantees, all offered by insurers with top credit ratings.” The article highlights the APVA as a standout. This is […]

    Annuities Have an Awareness Problem: Why That Matters

    {September 13th, 2023} by Jason Fichtner and Jean Statler

    In the 1934 comedy classic It’s a Gift, W.C. Fields’ character encounters an aggressive, slick-talking annuities salesman in an indelible scene that helped shape a negative perception of the product. Despite decades of product innovation and the adoption of industry-wide operating principles benefiting consumers, some would have you believe that selling annuities has changed little […]

    Simplicity Welcomes Susan Cimini as the Group’s Newest Partner with the Acquisition of Hancock Brokerage

    {September 13th, 2023} by Simplicity Group

    SUMMIT, N.J., Sept. 7, 2023 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”) today announced the acquisition of Hancock Brokerage (“Hancock”). Based in Louisiana and specializing in life insurance and life settlements, Hancock is led by Susan Cimini who becomes a Simplicity Partner following this transaction. “During the process of building a thriving business, Susie has proven herself to be a leader in […]

    Milliman’s 2023 Variable Annuity Industry Experience Studies show policyholder behavior is highly sensitive to interest rates and benefit guarantees

    {September 13th, 2023} by Milliman, Inc.

    SEATTLE, Sept. 7, 2023 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, today announced the results of its two 2023 Variable Annuity Industry Experience Studies, which analyze policyholder behavior across 22 companies spanning 15 years. The two studies cover surrender behavior and partial withdrawals, focusing on income utilization for guaranteed lifetime withdrawal benefit (GLWB) […]

    Senior Market Sales® Adds EMG Insurance Brokerage to Growing Network of Health and Wealth Companies

    {September 13th, 2023} by Senior Market Sales

    OMAHA, Neb., Sept. 12, 2023 /PRNewswire/ — Senior Market Sales® (SMS), one of the industry’s premier insurance marketing organizations (IMOs), has acquired EMG Insurance Brokerage, one of the oldest and most well-respected IMOs in the country. SMS President Jim Summers touted the new partnership as a major win for SMS and parent company Alliant Insurance Services as they build a network […]

    RILAs: Buffers are Still Much Better than Floors

    {September 13th, 2023} by David Blanchett

    Registered index-linked annuities (RILAs), also called indexed-variable annuities and structured annuities, continue to gather significant assets. I originally released a paper for the Alliance for Lifetime Income, as well as series of articles in Advisor Perspectives (see here, here, here and here), exploring RILAs in April 2021. In one particular article, I noted that buffer RILAs were significantly more efficient than floor RILAs. These […]

    Tess Grace Joins Integrity as President of Integrity Life

    {September 13th, 2023} by Integrity Marketing Group, LLC

    Experienced, top-tier executive will lead Integrity’s efforts to provide innovative life insurance solutions to agents and consumers as part of its holistic life, health and wealth mission DALLAS, Sept. 12, 2023 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today […]

    Pros and cons of annuities as havens amid recent market turmoil

    {September 13th, 2023} by Dan Shaw

    Annuities may be enjoying unprecedented popularity in this time of economic uncertainty and rising interest rates. But that doesn’t necessarily mean every advisor should join the crowd and rush to add them to their clients’ portfolios. Click HERE to read the full story via Financial Planning

    Annuities Can Be Tricky for Advisors to Buy and Manage. How Insurers Hope to Change That.

    {September 6th, 2023} by Karen Hube

    Annuity companies have been trying to win over more wealth managers and independent investment advisors for years. They have lowered contract expenses, built new types of annuities to address common retirement planning risks, and created fee-based versions of traditional commissioned annuities. Now, annuities look better than ever after rising interest rates boosted payouts and guarantees. […]

    A.M. Best, S&P Global Ratings Each Affirm Strong Performance by OneAmerica

    {September 5th, 2023} by OneAmerica

    INDIANAPOLIS, Sept. 5, 2023 /PRNewswire/ — OneAmerica® today announced that A.M. Best and S&P Global Ratings have each separately recognized American United Life Insurance Company® (AUL) and its affiliate The State Life Insurance Company® (State Life), both OneAmerica companies, for their financial strength. A.M. Best affirmed an A+ (Superior) rating, which is the second-highest of 15 rating […]

    Enhancing Executive Retention Strategies Through Indexed Universal Life Insurance

    {September 5th, 2023} by Laurence Williams

    Businesses serve as the lifeblood of our economy, driving innovation and progress. In the intricate landscape of business, cultivating and retaining top-level executives is pivotal for sustained growth and success. As a financial advisor, you’re well aware of the multifaceted challenges businesses face in attracting and keeping valuable talent. In this article we’ll delve into […]

    Broker Words—September 2023

    {September 5th, 2023} by Broker World

    I was saddened, as will be the NAILBA community and many in our industry, to learn recently of the April passing of a vibrant and engaging jewel of the brokerage business, Melinda Meyer. Melinda graduated from Illinois State University with a BS in Special Education and Psychology. She began her career in Florida as a […]

    A Little About “RILAs”

    {September 5th, 2023} by Charlie Gipple

    Much of what I write about is derived from what I hear from the hundreds of agents that work with my company as their IMO. With that, something that has come up a lot in recent months from many of my agents is the topic of RILAs, or Registered Indexed Linked Annuities. The two questions […]

    Whole Life: The Foundation Of A Successful Plan For Retirement And Legacy

    {September 5th, 2023} by Kip Kip Walker

    Most families are concerned about retirement and what they will leave behind for their loved ones when they are gone. Will they have enough income to maintain their standard of living in retirement? Will they have to work into their 70s to afford retirement? Will they ever be able to retire? Will they be able […]

    RILAs: How Do Insurance Companies Do It?

    {September 5th, 2023} by Charlie Gipple

    One of the most popular whitepapers that I have created for financial professionals is titled Indexed Products: How the Watch Is Built. This whitepaper speaks to how insurance companies price fixed indexed products (annuities and life). In this whitepaper, I effectively create an indexed annuity based on today’s interest rates and options prices. Click HERE to […]

    ‘Annuity King’ sentencing delayed a month to permit character witnesses

    {September 5th, 2023} by John Hilton

    Sentencing for Phillip Roy Wasserman, the self-styled “Annuity King” convicted on fraud charges, was postponed until Oct. 5. Wasserman had been scheduled for sentencing Wednesday, with the government recommending a prison term of 324 to 405 months. Instead, Judge Charlene Edwards Honeywell granted Wasserman’s motion for a continuance so that four out-of-town witnesses can testify […]

    Annuities can help manage income risks in retirement

    {September 5th, 2023} by Susan Rupe

    During their years in the workforce, employees spend decades accumulating retirement savings. But when it’s time to retire, the focus switches from accumulating savings to generating retirement income. The challenge is to develop a retirement income strategy that provides a desired lifestyle without concern over running out of money. Click HERE to read the full […]

    12 Cheapest States for Retirees — 2023

    {September 5th, 2023} by Michael S. Fischer

    How much money to save for retirement is a top-of-mind concern for most Americans at a time when inflation and market volatility are impeding their ability to save. In fact, 55% of participants in a Bankrate survey reported that their savings are not where they should be, and 35% acknowledged that they are seriously behind. For these, relocating to […]

    TIAA Hit With Second Class-Action Suit Over MOVEit Hack

    {September 5th, 2023} by Melanie Waddell

    TIAA has been hit with a second lawsuit over a data breach related to the cyberattacking exploiting MOVEit file-transfer software. The first suit was filed on Aug. 8 in the U.S. District Court for the Southern District of New York, on behalf of former and current employees of companies that used TIAA to process benefits. Click HERE […]

    Honor a Loved One for Life Insurance Awareness Month

    {September 5th, 2023} by Allison Bell

    Life Happens wants to help people think about death by asking them to honor loved ones who have died. The nonprofit, Washington-based insurance education group has set up a memory wall website to support this year’s Life Insurance Awareness Month campaign, which start[ed September 1st.] Click HERE to read the full story via Think Advisor

    Principal Financial Group Inc. Buys 8,997 Shares of F&G Annuities & Life, Inc. (NYSE:FG)

    {September 5th, 2023} by Defense World

    Principal Financial Group Inc. lifted its stake in shares of F&G Annuities & Life, Inc. (NYSE:FG – Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,251 shares of the company’s stock after acquiring an additional 8,997 shares during the […]

    Solving the retirement planning puzzle — With Todd Taylor

    {September 1st, 2023} by Paul Feldman

    Todd Taylor, as head of New York Life’s retail annuities business, has helped shape the business for an industry leader that had more than $22 billion in sales in 2022. He believes being a mutual company has given New York Life an advantage over competitors in riding the recent annuity juggernaut. He has spent about […]

    North American Company Announces New Goldman Sachs Index

    {September 1st, 2023} by North American Company for Life and Health Insurance

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Today North American Company for Life and Health Insurance®, a member company of Sammons® Financial Group, announced a new crediting index sponsored by Goldman Sachs. The Goldman Sachs Equity TimeX Index (the “Index”) offers exposure to the equity market while providing greater option-cost stability through volatility control and an excess return structure. The Index uses calendar-based […]

    Jackson Refines Perspective Variable Annuity Benefit Suite

    {September 1st, 2023} by Jackson National Life Insurance Company

    LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc.1 (NYSE: JXN), today announced the launch of Flex Suite, a streamlined and simplified menu of add-on living benefits available within the Perspective family of variable annuity products. Flex Suite includes 14 options of add-on living benefits. Each of these options […]

    Mixed expectations for impending DOL fiduciary rule

    {September 1st, 2023} by John Hilton

    The Department of Labor stayed silent Wednesday on a new fiduciary rule rewrite it promised to unveil by the end of August. Now termed “Conflict of Interest in Investment Advice,” the much-delayed rule proposal remained docked in the “Proposed Rule Stage.” Anticipation remains sky high for financial professionals, not all of whom are opposed to […]

    Life insurance shows potential to solve growing LTC concerns

    {September 1st, 2023} by John Hilton

    Life insurance is a versatile product that Americans use for protection, tax planning, a savings tool and many other important life planning options. Of late, Americans are turning to life insurance to solve long-term care concerns as well. While life insurance-LTC combo products have existed for years, recent activism on LTC issues is pushing these […]

    LIMRA: Young people want life insurance, but aren’t buying it

    {September 1st, 2023} by John Hilton

    The concept of life insurance sells itself and always has. Few Americans argue against the idea of setting aside a few dollars for protection against the financial consequences of an untimely death. Converting that popular concept into a life insurance sale is where the difficulty comes in. It’s a difficulty many producers are currently having […]

    Lawmakers Tell DOL to ‘Cease’ Work on New Fiduciary Rule

    {September 1st, 2023} by Melanie Waddell

    Top lawmakers on the Senate Health, Education, Labor and Pensions (HELP) Committee and the House Education and the Workforce Committee told Acting Labor Secretary Julie Su on Thursday to “cease further action” on a new fiduciary rule. Sen. Bill Cassidy, R-La., ranking member of the HELP Committee, and Rep. Virginia Foxx, R-N.C., chairwoman of the Education […]

    12 Fast Facts About Annuity Issuers’ Graders

    {September 1st, 2023} by Allison Bell

    Ateam at the Society of Actuaries has come out with a critical new tool for annuity professionals: a guide to the insurance rating process. Your clients are looking at annuities because they’re hungry for retirement income guarantees. But, as all annuity issuers state near any mention of guarantees, the guarantees depend on the strength of […]

    Finseca Applauds FSP, Life Happens, and NAIFA’s Intent to Merge

    {September 1st, 2023} by Finseca

    WASHINGTON, D.C. (August 24, 2023) – Today, Finseca issued the following statement of support after The Society of Financial Service Professionals (FSP), Life Happens, and the National Association of Insurance and Financial Advisors (NAIFA) announced their intent to merge. “On behalf of our Board of Directors, team, and the membership at Finseca, I want to offer […]

    Annexus CEO Ron Shurts & Zebra Capital’s Roger Ibbotson Ring the NYSE Closing Bell in Celebration of the 6-Year Anniversary of the NYSE Zebra Edge Index

    {September 1st, 2023} by Annexus

    SCOTTSDALE, Ariz., Aug. 28, 2023 /PRNewswire/ — Annexus CEO and co-founder Ron Shurts and renowned economist Prof. Roger Ibbotson had the honor of ringing the closing bell on the New York Stock Exchange on Monday, Aug. 21, in celebration of six years of the NYSE® Zebra Edge® Index. Annexus, a leading independent developer of financial and insurance products, and Zebra Capital Management, an esteemed […]

    NAIFA to boost training and education through proposed merger

    {September 1st, 2023} by Tobias Salinger

    The National Association of Insurance and Financial Advisors would reach nearly 20,000 members through a merger with two other organizations that’s up for a vote this fall. NAIFA, an Arlington, Virginia-based networking, certification and advocacy organization for financial advisors, insurance agents and their firms, would absorb two other groups it has already collaborated with over […]

    New Study Shows Interest in Life Insurance at All-Time High in 2023

    {August 31st, 2023} by LIMRA and Life Happens

    Windsor, Conn. and Washington, D.C. ― While two-thirds of Americans report their lives have largely returned to normal following the COVID-19 pandemic, the 2023 Insurance Barometer Study shows a record-high proportion of consumers (39%) who say they intend to purchase life insurance coverage within the next year. The intent to buy is even higher among […]

    Wells Fargo Faces John Hancock Suit Over Life Insurance Issue

    {August 31st, 2023} by Allison Bell

    Anew federal court case could affect what happens when the owner of a life insurance policy uses the policy as loan collateral and then sells the policy through a life settlement. John Hancock Life Insurance Co. (U.S.A.) filed the suit in the U.S. District Court of Massachusetts against two parties — Wells Fargo and Monterey […]

    NAIFA to Join With Life Happens and the Society of Financial Service Professionals

    {August 31st, 2023} by Allison Bell

    The National Association of Insurance and Financial Advisors plans to join with two other groups, Life Happens and the Society of Financial Service Professionals, through a merger, the groups announced today. The Life Happens and FSP boards have already approved the merger. They hope to get member approvals early this fall. Click HERE to read […]

    Jackson Keeps Variable Annuity Benefits Guarantees on Menu

    {August 31st, 2023} by Allison Bell

    Jackson Financial will still have something to offer variable annuity buyers who want income guarantees. The Lansing, Michigan-based life insurer today reaffirmed its commitment to providing annuity benefits guarantees by introducing the Flex Suite family of variable annuity living benefits. Click HERE to read the full story via ThinkAdvisor

    NASAA launches program letting advisors maintain licenses longer while out of industry

    {August 31st, 2023} by Mark Schoeff Jr.

    ‘As a mother of three young kids … I am so pleased to see NASAA recognizing the need for some flexibility,’ an advisor says. Click HERE to read the full story via InvestmentNews

    Finseca Flash

    {August 31st, 2023} by Finseca

    While appropriate regulations enhance transparency and accountability in the financial sector, an excessive load of compliance and regulatory burden can lead to many unintended consequences that ultimately hurt the very individuals they aim to protect as well as all the financial security professionals (FSPs) providing that service.  In case you missed it, the latter – […]

    The Annuity Market Might Split: CFRA Analyst

    {August 31st, 2023} by Allison Bell

    A split between two different kinds of life insurance company owners could lead to a split in the U.S. retail annuity market. Catherine Seifert, a vice president at CFRA Research, discusses that possibility in a new review of U.S. and Canadian life insurers. Click HERE to read the full story via Think Advisor 

    TIAA Exec: Put Deferred Fixed Annuities in 401(k) Plans

    {August 31st, 2023} by Allison Bell

    Many investment strategists believe in using annuities for retirement savings held outside 401(k) plans. Phil Maffei II, the managing director at TIAA’s corporate retirement solutions unit, disagrees. Click HERE to read the full story via ThinkAdvisor

    A Way To Make Annuities Easier For Advisors Is On The Horizon, Industry Officials Say

    {August 31st, 2023} by Ben Mattlin

    Many advisors don’t have the tools to handle annuities easily, says the Insured Retirement Institute (IRI). But that’s about to change. IRI, a Washington, D.C.-based industry group, is working with dozens of annuity providers and distributors to offer new resources designed to clear away roadblocks that inhibit advisors from including annuities in their standard financial […]

    AM Best Affirms Credit Ratings of Massachusetts Mutual Life Insurance Company and Most of Its Subsidiaries

    {August 31st, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Massachusetts Mutual Life Insurance Company (MassMutual) (domiciled in Springfield, MA) and its life/health subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company (both domiciled in Enfield, CT). […]

    Venerable Announces Planned Creation of Investment Adviser

    {August 31st, 2023} by Venerable

    WEST CHESTER, Pa.–(BUSINESS WIRE)–Venerable Holdings, Inc. (“Venerable”) today announced plans to establish a Venerable-owned registered investment adviser (“VIA”) and a variable insurance trust (“VIT”) comprised of mutual funds managed by VIA that will serve as investment options for insurance company separate accounts. This initiative is part of our ongoing effort to grow and optimize our […]

    AM Best Affirms Credit Ratings of Sammons Financial Group, Inc. and Its Subsidiaries

    {August 31st, 2023} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of Midland National Life Insurance Company (Midland National) and North American Company for Life and Health Insurance (North American) (both domiciled in West Des Moines, IA). In addition, AM Best has affirmed […]

    Pacific Life denies fault, asks court to dismiss IUL lawsuit in Washington state

    {August 31st, 2023} by John Hilton

    Pacific Life denied all claims and asked a Washington state federal judge to dismiss a lawsuit brought by a Richland couple dissatisfied with a PDX indexed universal life policy. Simona G. Marie and Thomas Lewis, from Richland, Wash., filed a lawsuit June 27 against Pacific Life, Harding Financial Partners and Andrew Brown, the producer who sold them […]

    Don’t Buy an Indexed-Universal Life Policy Until You Read This

    {August 31st, 2023} by Ben Manderscheid

    Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. So-called “finfluencers” are preying on naïve investors, promising unrealistic returns while generating excessive commissions for themselves. Their bait is an indexed-universal life (IUL) policy. Read this to avoid making a costly mistake. Click HERE to read the full […]

    How Do Annuity Death Benefits Work?

    {August 31st, 2023} by Roger Wohlner

    Annuities are primarily known for their living benefits, but in many cases, they can offer a death benefit to the contract holder’s beneficiaries. If your client has an annuity or is considering investing in one, it’s important to review the contract’s death benefit options with them. Not all annuities have a death benefit.  What Is an […]

    Groups Move to Support Advisor in Annuity Switching Case

    {August 31st, 2023} by Jeff Berman

    The National Association for Fixed Annuities and Investor Choice Advocates Network have filed amicus curiae briefs in the U.S. District Court for the District of Massachusetts on behalf of the advisor who was charged by the Securities and Exchange Commission in March with defrauding clients as part of an annuity replacement scheme. The SEC declined […]

    Venerable Aims to Power Variable Annuity Issuers’ Fund Menus

    {August 31st, 2023} by Allison Bell

    Venerable Holdings — a reinsurer that has taken responsibility for giant blocks of variable annuities off the shoulders of companies like Voya, Equitable and John Hancock — wants to provide the investment funds inside the annuities. The West Chester, Pennsylvania-based company announced Tuesday that it’s setting up its own RIA and its own variable insurance trust to help insurers […]

    Retirement plan confusion creating advisor opportunities

    {August 30th, 2023} by Gregg Greenberg

    Although 76% of sponsors were extremely satisfied with their current plan advisor, 22% reported they were actively looking to switch.  Click HERE to read the full story via InvestmentNews

    False and Misleading Long-Term Care Insurance Marketing Tactics

    {August 30th, 2023} by California Insurance Commissioner

    August 23, 2023— The California Department of Insurance (Department) has received several complaints regarding misleading marketing and communications by some long-term care insurers and agents in connection with the work of the California Long-Term Care Insurance Task Force (Task Force). These communications falsely assert that a new payroll tax will be imposed in the near […]

    Life Insurance Consumer Advocacy Center Shares Concerns Over New Proposed California Law That Works a Fraud on Consumers

    {August 30th, 2023} by LICAC

    PLEASANT HILL, Calif., Aug. 29, 2023 /PRNewswire/ — A proposed new California law would allow life insurance agents to mislead their consumer customers by saying they have no conflicts of interest with the consumer even if the agent stands to gain many thousands of dollars if the consumer accepts the agent’s recommendation. The same law allows agents to tell […]

    Financial Advisors Have Used FIDx’s Platform for More Than $1B in New Annuity Contracts; $50B in Overall Annuity Contracts Now Actively Managed on FIDx Platform

    {August 30th, 2023} by FIDx

    BERWYN, Pa., Aug. 29, 2023 /PRNewswire/ — Fiduciary Exchange LLC (FIDx) is celebrating a significant milestone: financial advisors have utilized FIDx’s platform, which includes tools and integrated technology solutions for managing annuities, for more than $1 billion in new annuity contracts since the platform’s full market launch in September 2021. “Our mission at FIDx is simple—equip every financial advisor nationwide […]

    Debate: Should the DOL Revert to the 2016 Fiduciary Standard?

    {August 30th, 2023} by Robert Bloink and William H. Byrnes

    After the Department of Labor’s 2016 fiduciary rule and best interest contract exemption were vacated, the standard reverted back to the “old” five-part test that has historically been used to determine investment advice fiduciary status. Now, it is widely expected that the DOL will release a newly revised fiduciary test before the end of the summer. Many […]

    Massachusetts Fiduciary Rule Upheld by Top Court

    {August 30th, 2023} by Melanie Waddell

    The Massachusetts Supreme Judicial Court ruled Friday to uphold the Massachusetts fiduciary rule and allow Secretary of State William Galvin’s administrative case against Robinhood to move forward. In April, Galvin, Massachusetts’ top securities regulator, appealed a Superior Court judge’s decision issued last March that struck down the state’s fiduciary rule. Click HERE to read the full […]

    Fortitude Re Engages IBM to Transform and Optimize Its Life Insurance and Annuity Third Party Administration Operations

    {August 28th, 2023} by Fortitude Re

    ARMONK, N.Y. and HAMILTON, Bermuda, Aug. 24, 2023 – IBM (NYSE: IBM) and FGH Parent, L.P.,  (together with its subsidiaries, “Fortitude Re”), today announced they have entered into a $450 million agreement to transform Fortitude Re’s  life insurance policy servicing operations with the implementation of AI technology and other automation tools designed to deliver a best-in-class […]

    Features, taxation of individual annuities help middle-class Americans feel confident about retirement

    {August 28th, 2023} by Press Release

    Washington, DC (August 24, 2023) – A recent Gallup survey of Americans who own annuity contracts provides new evidence that individual annuities are used primarily by the middle class to accumulate savings and provide income for their retirement.  The survey also found that the current federal tax rules for individual annuities are important in encouraging these Americans to […]

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