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  • Will Secure Act Move the Needle for Annuities in Retirement Plans?

    {February 18th, 2020} by Nick Thornton

    For years, the insurance industry and advocates for guaranteed income products have been lobbying to get fiduciary sanctuary for employer sponsors of defined contribution plans who put annuities in investment menus. And for at least a good part of last year, that sanctuary was all but certain, thanks to the annuity provider selection safe harbor […]

    AIG Says Low Rates Likely to Hurt Fixed Annuity Sales: Earnings

    {February 18th, 2020} by Allison Bell

    American International Group Inc. is reporting that its life and retirement unit did well in the fourth quarter, but that the return of falling rates was hard on sales. The financial services giant is reporting $869 million in net income for the fourth quarter of 2019 on $12 billion in revenue, compared with a $560 million […]

    7 Reasons the Average Person Needs an Insurance Agent

    {February 18th, 2020} by Bryce Sanders

    You’ve seen the stereotypes applied to insurance agents. They aren’t pretty. It’s been said the quickest way to end a conversation at a party is to answer “What do you do?” with “I’m an insurance agent.” However, you, as an agent, know that most people are better off working with an insurance agent, versus going […]

    Bloomberg Vows to Restore DOL Fiduciary Rule, Add Financial Transaction Tax

    {February 18th, 2020} by Melanie Waddell

    Presidential candidate Michael Bloomberg would restore the Labor Department’s now-defunct fiduciary rule as well as institute a .01% financial transaction tax, according to his just-released financial reform policy. The three-term New York City mayor would also beef up the Volcker Rule and the Consumer Financial Protection Bureau, as well as “accelerate” the creation of the […]

    FINRA Suspends Ex-Thrivent Rep Who Worked at Animal Hospital

    {February 18th, 2020} by Jeff Berman

    Proving once again that it is always best for brokers to inform their firms about any outside business activities, whether it’s selling insurance or even running the office at a vet clinic, the Financial Industry Regulatory Authority sanctioned a former Thrivent representative for engaging in three undisclosed outside business activities. Without admitting or denying the […]

    TCS Named a Leader and Star Performer in Life & Annuities Insurance Application and Digital Services by Everest Group

    {February 18th, 2020} by TCS

    NEW YORK | MUMBAI, February 17, 2020: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader and Star Performer in the Everest Group PEAK Matrix® for Life & Annuities (L&A) Insurance Application and Digital Services[1]. In an assessment of 20 global service […]

    What you don’t know about your parents’ retirement plans could hurt you financially

    {February 18th, 2020} by Dhara Singh

    Most working Americans have no clue how prepared their parents are for retirement, a knowledge gap that could hurt their own finances. About 7 in 10 of adults between 25 and 44 said they know little to nothing about their parents’ finances, according to a survey from AgeUp, an annuity product issued by MassMutual and sold […]

    Massachusetts Securities Division Expands Jurisdiction to Non-Securities

    {February 18th, 2020} by Pete S. Michaels, David L. Ward

    The Enforcement Section of the Massachusetts Securities Division (“MSD”) recently filed an Administrative Complaint against Ryan Patrick Skinner (“Skinner”) and related entities Summit Financial Partners and Summit Financial Ptrs Inc of Woburn, MA (together, “Summit”)[1]. Summit is not a broker-dealer or investment advisor licensed by the MSD.[2] Further, Skinner is not a registered representative. Interestingly, the products at issue […]

    Ladenburg Thalmann Announces Completion of Merger with Advisor Group

    {February 18th, 2020} by Ladenburg Thalmann Financial Services Inc

    NEW YORK–(BUSINESS WIRE)–Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS PrA, LTSL, LTSF, LTSK, LTSH) (“Ladenburg”), a diversified financial services company, today announced the successful completion of its merger with Advisor Group, Inc. (“Advisor Group”), one of the nation’s largest networks of independent wealth management firms. The expanded Advisor Group will be one of the […]

    The Standard Promotes Christopher Beaulieu to Vice President of Individual Annuities and Fixed Income

    {February 18th, 2020} by The Standard

    PORTLAND, Ore.–(BUSINESS WIRE)–Standard Insurance Company (“The Standard”) announced today that Christopher Beaulieu has been promoted to vice president of Individual Annuities and Fixed Income. Beaulieu joined The Standard in 2015 as assistant vice president of Investments where he has been leading an investment team responsible for fixed income investments in public markets. In his new […]

    Here’s What Happens When You Borrow From Your Life Insurance

    {February 17th, 2020} by Catherine Brock

    ou can borrow against next week with a payday loan and against next month with a credit card. You can even borrow against your own retirement with a 401(k) loan. But what about a life insurance loan? Well, it won’t affect your afterlife, but your heirs might not appreciate it. If you can get past […]

    Why “Tax Time” is a Good Time to Consider Life Insurance Options

    {February 17th, 2020} by Deana Lemmon, LTCP

    Tax season is a good time of year to consider your options for improving your quality of life. According to Deana Lemmon, long-term care professional and life insurance specialist at Sarvey Insurance, “If they qualify for a tax refund, many people use the extra funds to improve their homes, purchase a better vehicle or add […]

    No. 355: Greg Lindberg—Another Update on the Federal Criminal Lawsuit in North Carolina

    {February 15th, 2020} by Joseph M. Belth

    In No. 309 (April 17, 2019), I discussed the indictment of Greg E. Lindberg and three other individuals by a federal grand jury in North Carolina. In No. 320 (July 1, 2019), I reported on the placement of four Lindberg insurance companies into court-ordered rehabilitation at the request of the North Carolina insurance commissioner. In […]

    Boston man pleads guilty to life insurance scam; impersonates dead brother in bid to collect millions

    {February 14th, 2020} by Travis Andersen

    A 33-year-old Boston man on Wednesday admitted to impersonating his deceased brother in a brazen life insurance scam and now faces up to 20 years behind bars, federal prosecutors said. Kellerman Jason Zheng pleaded guilty in US District Court in Boston to mail and wire fraud, and his sentencing is slated for June 18, according […]

    Annuity language intentionally misleading

    {February 14th, 2020} by David Moon

    The Securities and Exchange Commission won’t like this next paragraph, but read the entire thing, not just the tantalizing “promises” in the first sentence. If you hire me to manage your money, I promise to always outperform the market, never lose money and that you will never be fat. You just have to let me define […]

    Financial Regulators Gain Punitive Powers Under NY Budget Plan

    {February 14th, 2020} by John Hilton

    New York Gov. Andrew Cuomo gives financial regulators the ability to levy stiffer fines and restitution under his preliminary budget proposal. With the Department of Financial Services having recently enacted fiduciary like rules for all sales of life insurance and annuities, Cuomo’s proposal has implications for insurers. The biggest change would add a new section […]

    Security Benefit Asks For Stay In Florida Suit Over Index

    {February 14th, 2020} by John Hilton

    Security Benefit is asking a Florida court for a stay in a lawsuit challenging its use of proprietary indexes until a similar lawsuit is decided in a Kansas City appeals court. To recap, the two lawsuits are: A class-action lawsuit filed in the U.S. District Court for the Southern District of Florida originated in November.  […]

    Fidelity National Financial, Inc. Announces Signing Of A Merger Agreement To Acquire FGL Holdings For $12.50 Per Share In Combination Of Cash And FNF Common Stock

    {February 12th, 2020} by Fidelity National Financial, Inc.

    JACKSONVILLE, Fla., Feb. 7, 2020 /PRNewswire/ — Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”) today announced that it has signed a merger agreement to acquire FGL Holdings (NYSE: FG) (“F&G”) for $12.50 per share of common stock, representing an equity value of approximately $2.7 billion.  Based on F&G’s adjusted earnings for the twelve months ended September 30, 2019, the transaction is expected to […]

    FGL Holdings Announces $2.7 Billion Acquisition by Fidelity National Financial

    {February 12th, 2020} by FGL Holdings

    GEORGE TOWN, Cayman Islands, Feb. 7, 2020 /PRNewswire/ — FGL Holdings (NYSE: FG) (“F&G” or the “Company”), a leading provider of fixed indexed annuities and life insurance, today announced that the Company has entered into a merger agreement pursuant to which Fidelity National Financial, Inc. (NYSE: FNF) (“FNF”), the leading provider of title insurance and closing and settlement services […]

    Fidelity National Aims to Be an Annuity Market Giant

    {February 12th, 2020} by Allison Bell

    Fidelity National Financial Inc. may be about to become a major player in the U.S. annuity market. The Jacksonville, Florida-based title insurer has agreed to pay $12.50 per share, or a total of $2.7 billion in cash and Fidelity National stock, for FGL Holdings — the Des Moines, Iowa-based company that owns Fidelity & Guaranty Life Insurance […]

    AM Best Comments on the Credit Ratings of Fidelity & Guaranty Life Holdings, Inc. Following Acquisition Announcement

    {February 12th, 2020} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of the key life/health subsidiaries of Fidelity & Guaranty Life Holdings, Inc. (FGLH) (Delaware), collectively referred to as Fidelity & Guaranty Life Group, remain unchanged after the announcement of a definitive agreement […]

    Iowa Insurance Agents Fined For ‘Deceptive’ Mailers Targeting Elderly

    {February 12th, 2020} by John Hilton

    A Missouri insurance agent who used a lead-generation mailer advertising “FREE government benefits” was fined by the Iowa Insurance Division last week. John A. McAfee of Hannibal, Mo., agreed to a consent order that fines him $10,000, plus $1,800 for costs of investigation, and subjects his company, McAfee & Associates, to one year of monitoring. […]

    5 Things Annuity Issuer Executives Are Saying Now

    {February 12th, 2020} by Allison Bell

    Top executives at some big U.S. annuity issuers say they’re happy with how the annuity units have been doing but have noticed that interest rates have fallen. The executives have been talking about the return of falling rates over the past week, in conference calls with securities analysts. Typical “publicly traded” insurers — the kinds with […]

    National Western Life to Launch The Sterling Group, an Exclusive Alliance with Key NMOs

    {February 12th, 2020} by National Western Life Group, Inc.

    AUSTIN, Texas, Feb. 4, 2020 /PRNewswire/ — National Western Life Insurance Company (NWLIC) announced the introduction of The Sterling Group, an exclusive alliance between itself and six key national marketing organizations which was launched January 1, 2020. These national marketing organizations include Advisors Excel, CreativeOne, Financial Independence Group, Gradient Insurance Brokerage, Impact Partnership, and M&O Marketing. “Through this alliance, […]

    Pacific Life Introduces Retirement Income Translator

    {February 12th, 2020} by Pacific Life Insurance Company

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life Insurance Company has introduced the Retirement Income Translator, an online tool to help consumers understand what their retirement savings can mean when translated to retirement income. This new client resource creates a two-minute personalized video that aims to illustrate the potential benefits of protected lifetime retirement income through an annuity. […]

    Brighthouse Financial Announces Fourth Quarter and Full Year 2019 Results

    {February 12th, 2020} by Brighthouse Financial

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today its financial results for the fourth quarter and full year ended December 31, 2019. Fourth Quarter and Full Year 2019 Results The company reported a net loss available to shareholders of $1,077 million in the fourth quarter of 2019, or $10.02 […]

    Here’s What’s Disrupting Americans’ Financial Plans Most

    {February 11th, 2020} by Michael S. Fischer

    Education spending — largely on student loan debt — has become the chief financial disruptor among Americans, even more so than loss of employment or having to take a lower-paying job, according to a new Harris Poll survey conducted on behalf of TD Ameritrade. Education spending is the only financial disruptor that experienced growth in […]

    MassMutual enterprises merge as insurer bolsters wealth management arm

    {February 11th, 2020} by Tobias Salinger

    A trio of MassMutual enterprises have merged into a single firm as the giant insurer moves in the opposite direction of rivals that have spun off their broker-dealers. In absorbing the Southeast Coast and South Florida offices of MML Investors Services early this year, Fort Lauderdale, Florida-based Coastal Wealth now has more than 450 advisors, […]

    LPL Financial Receives Perfect 100 in HRC’s Corporate Equality Index

    {February 11th, 2020} by LPL Financial

    CHARLOTTE, N.C. – Jan. 27, 2020 – LPL Financial LLC, a leading retail investment advisory firm and independent broker-dealer, today announced that it received a perfect score of 100 percent in the Human Rights Campaign Foundation’s 2020 Corporate Equality Index (CEI), a national benchmarking survey and report measuring corporate policies and practices related to lesbian, gay, bisexual, […]

    Sheryl Moore: From Single Mom To Insurance Rock Star

    {February 11th, 2020} by John Hilton

    She learned fast in a business not known for producing fast learners. After a few years mastering  product development, competitive intelligence and marketing, Moore took a leap of faith and started her own company in 2005. Today, she is one of the industry’s top experts on product performance and pricing. Click HERE to read the […]

    FBL Financial Group Reports Fourth Quarter and Full Year 2019 Results

    {February 11th, 2020} 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 fourth quarter of 2019 of $34.7 million, or $1.40 per diluted common share, compared to $6.4 million, or $0.26 per diluted common share, for the fourth quarter of 2018. Adjusted operating income(1) totaled $34.8 million, or […]

    AM Best Upgrades Issuer Credit Ratings of Principal Financial Group, Inc. and Its Subsidiaries

    {February 11th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa” from “aa-” and affirmed the Financial Strength Rating of A+ (Superior) of Principal Life Insurance Company and Principal National Life Insurance Company. Both are life insurance operating companies of Principal Financial Group, Inc. (PFG) [NASDAQ: PFG], and collectively are referred to as Principal. The outlook of […]

    The Penn Mutual Life Insurance Company Announces Relaunch of Chicago-area Agency

    {February 11th, 2020} by Penn Mutual

    HORSHAM, Pa.–(BUSINESS WIRE)–The Penn Mutual Life Insurance Company (Penn Mutual), a Fortune 1000 company, has announced a relaunch of its Chicago agency, now Penn Mutual Midwest Wealth Strategies. Formerly operating as Lakeshore Wealth Strategies, the firm’s new name is designed to reflect a growth and planning mindset while rooting its identity in the Midwest. The […]

    Brighthouse Financial to Host Business Update Conference Call

    {February 11th, 2020} by Brighthouse Financial

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that it plans to hold a business update conference call and audio webcast for investors and analysts from 8:00 a.m. to 9:30 a.m. Eastern Time on Thursday, March 5, 2020. Presenters will include members of Brighthouse Financial’s senior management team. Prior […]

    Ameriprise Financial Helps Strengthen Communities Through Donations and Volunteerism

    {February 11th, 2020} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–In 2019, Ameriprise Financial, Inc. (NYSE: AMP), along with its employees and advisors, donated $17.5 million and volunteered close to 100,000 hours at nonprofits in their communities. As a leader in financial planning, the firm focuses on philanthropic causes that strengthen communities and help individuals achieve economic stability. To that end, throughout the year, […]

    AIMCOR Group, LLC Announces Partnership with Human API to Optimize Advisor and Client Experience with Electronic Health Records (EHR)

    {February 11th, 2020} by AIMCOR Group, LLC

    PAOLI, Pa., Feb. 11, 2020 /PRNewswire/ — Today, AIMCOR Group, LLC announced a strategic partnership with Human API, the largest consumer-controlled health data platform, to create a faster life insurance buying experience for agents and their clients by giving applicants a simple and digital way to share access to their electronic health records (EHR). AIMCOR Group, LLC […]

    New research from AgeUp reveals majority of millennials and Gen Xers expect to financially support their parents in their old age, but few are planning for it today

    {February 11th, 2020} by AgeUp

    BOSTON, Feb. 10, 2020 /PRNewswire/ — AgeUp, an innovative annuity product issued by Massachusetts Mutual Life Insurance Company (MassMutual), today unveiled new research on how millennials and Gen Xers approach financial planning for their parents’ longevity. Developed by Haven Life Insurance Agency, AgeUp is designed to provide the adult children of the Boomer generation with financial protection for […]

    CNO Financial Group Reports Fourth Quarter and Full Year 2019 Results

    {February 11th, 2020} by CNO Financial Group

    CARMEL, Ind., Feb. 11, 2020 /PRNewswire/ — CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ending December 31, 2019, net income was $278.0 million, or $1.84 per diluted share, compared to $28.3 million, or $0.17 per diluted share in 4Q18.  CNO also reported that 4Q19 net operating income (1) was $78.6 million, or $0.52 per diluted share, compared to $59.8 million, or $0.36 per diluted share in […]

    Prudential Aims to Cut Stock-Related Annuity Risk: Earnings

    {February 11th, 2020} by Allison Bell

    Prudential Financial Inc. did well in the fourth quarter, but it’s trying to harden itself against current and future financial storms. Executives at the Newark, New Jersey-based company said the company’s is already making adjustments to counter the effects of low interest rates. The company is also working to cut costs, and to reduce the […]

    National Western Life Forms Distribution Organization

    {February 11th, 2020} by Allison Bell

    National Western Life Insurance Company has created its own organization of independent marketing organizations. The Austin, Texas-based life insurer has pulled six national marketing organizations into The Sterling Group. The marketing organizations in the new group are Advisors Excel, CreativeOne, Financial Independence Group, Gradient Insurance Brokerage, Impact Partnership, and M&O Marketing. National Western Life says […]

    ACLI Co-Hosts Major Financial Literacy Event

    {February 11th, 2020} by Allison Bell

    The American Council of Life Insurers invested in U.S. children’s financial literacy Wednesday. The ACLI hosted the release of the Council for Economic Education’s 2020 Survey of  the States, in Washington, at the ACLI’s offices on Constitution Avenue. The Council for Economic Education supports economics and personal finance educational efforts in K-12 schools. The council […]

    Jackson Names Axel André CFO: Personnel Moves

    {February 11th, 2020} by Allison Bell

    Jackson National Life Insurance Company has named Axel André executive vice president and chief financial officer of Jackson. André previously was chief financial officer of individual retirement at American International Group Inc. He also has served as chief risk officer for individual retirement, group retirement and institutional markets at AIG. Jackson National is a Lansing, Michigan-based […]

    Lincoln Financial Says Last Quarter Looked Good: Earnings

    {February 11th, 2020} by Allison Bell

    Executives from Lincoln National Corp. — a company better known as Lincoln Financial Group — are telling roughly the same kinds of earnings story that colleagues at other life and health insurers have been telling this month. All sorts of headwinds could have caused problems in the fourth quarter of 2019, and could still cause problems later, but, […]

    Brighthouse Shows That Net Income Is Having Problems: Earnings

    {February 11th, 2020} by Allison Bell

    Brighthouse Financial Inc. posted a net loss over $1 billion late Monday — and its share price rose about 12% this morning, to close to $48. The Charlotte, North Carolina-based life insurer showed that an accounting approach that’s supposed to make financial services companies’ strength easier to track has instead caused investors to pay less attention to net […]

    Comment ‘Pawns’ Helped Kill DOL Fiduciary Rule: House Hearing Witness

    {February 11th, 2020} by Allison Bell

    At least some members of  the House Financial Services Committee say that fake public commenters have hurt the integrity of the public comment processes for new federal regulations — including the U.S. Department of Labor’s fiduciary rule effort. The House Financial Services oversight subcommittee held a hearing on public comment integrity in Washington, last week. The subcommittee gave […]

    Integrity Marketing Acquires Ad Agency

    {February 11th, 2020} by Allison Bell

    A mass insurance products distributor buyer today announced a different kind of deal. Integrity Marketing Group LLC of Dallas says it has acquired ThomasArts, a Salt Lake City-based ad agency that specializes in ads for Medicare plans and other products aimed at consumers ages 50 and older. Integrity Marketing did not say how much it […]

    Integrity Marketing Group Acquires ThomasArts-A National Advertising Agency focused on the Senior Market

    {February 11th, 2020} by Integrity Marketing Group

    DALLAS, Feb. 11, 2020 /PRNewswire/ — Integrity Marketing Group, LLC (“Integrity”), the nation’s largest independent distributor of life and health insurance products, today announced it has completed the acquisition of ThomasArts, an advertising agency specializing in the senior insurance market. Financial terms of the transaction were not disclosed. As part of the deal, ThomasArts Chief Executive Officer Dave Thomas, […]

    FINRA Issues RMD Alert on Secure Act Changes

    {February 11th, 2020} by Melanie Waddell

    New required minimum distribution rules under the Setting Every Community Up for Retirement Enhancement Act of 2019, or the Secure Act, are prompting regulators to alert investors as well as broker-dealers and advisors to some “tricky” new requirements. The Financial Industry Regulatory Authority, for instance, just released an “updated” Investor Alert that answers questions on […]

    Equitable Moves Another Step Away From AXA

    {February 11th, 2020} by Allison Bell

    A company that was once a high-profile pillar of the U.S. life insurance industry is continuing to reestablish itself as an independent, U.S.-based company. Equitable Holdings Inc. announced Friday that Thomas Buberl — the chief executive officer of AXA S.A. — has left the Equitable board. The Equitable Life Assurance Society of the United States was founded in […]

    AM Best Affirms Credit Ratings of Subsidiaries of CUNA Mutual Holding Company

    {February 10th, 2020} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of CMFG Life Insurance Company (CMFG Life), the lead life and annuity writer, and MEMBERS Life Insurance Company (MEMBERS Life), a life and annuity subsidiary. Both companies are life/health subsidiaries of CUNA […]

    Horace Mann Reports Strong 2019 Results

    {February 10th, 2020} by Horace Mann Educators Corporation

    SPRINGFIELD, Ill.,–(BUSINESS WIRE)–Horace Mann Educators Corporation (NYSE:HMN) today reported financial results for the quarter and full-year ended December 31, 2019: Horace Mann Consolidated Financial Highlights               Three Months Ended December 31,   Twelve Months Ended December 31, ($ in millions, except per share amounts)   2019   2018   […]

    Lincoln Financial Group Reports Fourth Quarter and Full Year 2019 Results

    {February 10th, 2020} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today reported net income for the fourth quarter of 2019 of $431 million, or $2.15 per diluted share available to common stockholders, compared to net income in the fourth quarter of 2018 of $399 million, or $1.80 per diluted share available to common stockholders. Fourth quarter adjusted income […]

    Annuities About to Have a Bigger Footprint in 401(k)s

    {February 10th, 2020} by John Miller

    With the SEC making the offering of annuities in companies’ 401(k) retirement plans easier, we are now scrambling to make this type of investment more transparent. There is something particularly tempting about annuities that appeal to a lot of people, for the same reasons that they loved fixed benefit pension plans. There is no doubt […]

    Brighthouse, Athene announce FIA innovations

    {February 8th, 2020} by Editorial Staff

    Competition and the low interest rate environment continues to drive innovation in the fixed indexed annuity market as companies try to dress up their products and avoid a trend toward commoditization. Click HERE to read the full story via RIJ     The average cap rate on an FIA account that’s linked to the S&P500 […]

    The Impact of SECURE Act Lifetime Income Projections

    {February 8th, 2020} by John Manganaro

    Commenting on the passage seven weeks ago of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, Geoffrey Dietrich, executive vice president of the eponymous retirement plan insurance firm DIETRICH, says his view on the potential effect of the legislation differs somewhat from that of other analysts. Many retirement industry observers have opined that the […]

    Why life insurance is the new stretch IRA

    {February 8th, 2020} by Ed Slott

    Advisors should move quickly with new estate planning advice for clients now that the Secure Act has passed. This law, which eliminated the stretch IRA plan for most nonspouse beneficiaries and replaced it with a 10-year rule, is already effective for deaths that occurred in 2020. While planners can still help clients maintain their goals, […]

    1 in 4 adults can’t name a single life insurer?

    {February 7th, 2020} by Insurance Forums Staff

    A new LIMRA study finds 1 in 4 adult Americans cannot name a single company that sells life insurance and a majority (56%) are unable to name three life insurance companies. As discouraging as this may sound, it does reflect an uptick in unaided awareness of life insurance brands among U.S. consumers, compared to 2014 results. Over […]

    Annuities are heading to 401(k)s

    {February 7th, 2020} by Emile Hallez

    The SECURE Act provided a gateway to get annuities into 401(k)s, and many plans could begin to incorporate those insurance products as soon as this year.   Click HERE to read the full story via InvestmentNews

    Equitable Holdings Schedules Announcement of Fourth Quarter and Full Year 2019 Results

    {February 5th, 2020} by Equitable Holdings

    NEW YORK–(BUSINESS WIRE)–Equitable Holdings, Inc. (NYSE: EQH) announced today that it will release financial results for the fourth quarter and full year 2019 after the market closes on Wednesday, February 26, 2020. The company will host a conference call webcast on Thursday, February 27, 2020 at 8:00 a.m. ET to discuss the results. The conference […]

    Brighthouse Financial Launches Fixed Index Annuity with Market Synergy Group

    {February 5th, 2020} by Brighthouse Financial, Inc.

    CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) announced today that it has entered the independent marketing organization (IMO) distribution channel with Brighthouse SecureAdvantageSM 6-Year Fixed Index Annuity (FIA). Key features of SecureAdvantage 6-Year include 6-Year Annual Sum Index Account options1 as well as greater transparency into the daily values of the contract than is typical […]

    Penn Mutual Launches Two New Universal Life Products

    {February 5th, 2020} by Penn Mutual

    HORSHAM, Pa.–(BUSINESS WIRE)–Penn Mutual recently released two new universal life products, expanding on its comprehensive portfolio. The Accumulation Builder Flex Index Universal Life (IUL) and Diversified Advantage Variable Universal Life (VUL) products equip consumers with robust allocation options and propels Penn Mutual forward as a strong competitor in the market with an emphasis on new […]

    Securian Financial Launches New IUL Product Focused on Accumulation—without High Fees and Multipliers

    {February 5th, 2020} by Securian Financial

    ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial has launched an easy-to-understand indexed universal life (IUL) insurance product without the complications of multipliers and additional fees. Eclipse Accumulator IUL, issued by Minnesota Life Insurance Company, is an accumulation-focused policy for clients seeking—in addition to a death benefit—supplemental income for retirement funding, college funding or non-qualified deferred compensation. Its […]

    Athene Enhances Its Fixed Indexed Annuity Lineup

    {February 5th, 2020} by Athene USA

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Athene USA (“Athene”), a leading provider of retirement savings products, has added the Nasdaq FC Index, sponsored by Bank of America, and the AI Powered US Equity Index, sponsored by HSBC, to its suite of fixed indexed annuities. The annuities are issued by Athene Annuity and Life Company, a subsidiary of […]

    Sammons Financial Refreshes Brand Identity as Company Enters New Decade

    {February 5th, 2020} by Sammons Financial Group

    Logo design connects the distinct Sammons Financial lines of business through a new look and image.   WEST DES MOINES, Iowa, Jan. 30, 2020 (GLOBE NEWSWIRE) — Sammons® Financial Group, Inc. is introducing a new marketing name and brand image to provide an updated look and feel to the company. The new oak leaf imagery unifies the distinct […]

    NAIFA Announces the Talent Development Center for Financial Service Professionals

    {February 5th, 2020} by NAIFA

    The new Talent Development Center bundles together business & personal performance programs for every career stage   Falls Church, Va. – The National Association of Insurance and Financial Advisors (NAIFA) announced the creation of the Talent Development Center which focuses on providing personal development programs to serve every stage of a financial service professional’s career. […]

    Ameriprise Adjusts Annuity Offerings for Low-Rate Environment

    {February 5th, 2020} by Allison Bell

    Ameriprise Financial Inc. is responding to falling interest rates by putting more emphasis on sales of annuities without return guarantees. Executives from the Minneapolis-based company talked about the company’s annuity product strategy Thursday, during a conference call with securities analysts. Ameriprise is reporting $463 million in net income for the fourth quarter of 2019 on $3.3 […]

    NAIFA ‘s 130th Anniversary Will Be Celebrated at the May 2020 Congressional Conference

    {February 5th, 2020} by NAIFA

    FALLS CHURCH, VA. (PRWEB) FEBRUARY 01, 2020 Members of the National Association of Insurance and Financial Advisors (NAIFA) representing communities from all 50 states will gather in Washington, D.C., May 19-20, 2020, for NAIFA’s eighth annual Congressional Conference. Registration for the event opens Jan. 30 at 2 PM (EST). Where: Marriott Renaissance DC Downtown, Washington, […]

    All the 2020 Super Bowl commercials, ranked

    {February 5th, 2020} by Steve Johnson

    New York Life – “Love Takes Action”–    Back to school, kids. New York Life is teaching us about the four words the ancient Greeks had for love, culminating in the most profound, agape. That’s the one beyond philia and eros where you go the extra mile to, say, bathe an aged partner who needs […]

    Judge Denies Bid by Global Bankers Owner to Dismiss Bribery Charges

    {February 5th, 2020} by A.M. Best

    STATESVILLE, N.C. – A federal judge has dismissed bids by insurance executive Greg Lindberg and his fellow co-defendants to have bribery and related charges against them thrown out of court. The ruling by District Judge Max O. Cogburn Jr. of North Carolina’s Western District clears a path to a scheduled Feb. 18 trial for Lindberg, […]

    Putting Off Big Life Moves May Help Finances: Life Happens

    {February 5th, 2020} by Allison Bell

    Many people who have put off major life milestones, such as getting married or having children, say those delays have improved their financial security. Life Happens — a consumer outreach group based in Arlington, Virginia — has posted data on the effects of milestone delays in a summary of results from a survey of 2,000 Americans that […]

    Firm Tallies U.S. Insurer Deal Value

    {February 5th, 2020} by Allison Bell

    Companies announced 43 U.S. mergers, acquisitions and big capitalization deals in December, and those deals had a total deal of about $9 billion, according to GlobalData PLC. The deals had an average value of about $21 million. GlobalData has not provided comparable data for 2018. The London-based firm says the United States averaged 52 insurance […]

    How to Avoid the Secure Act’s Long-Term Tax Traps

    {February 5th, 2020} by Joe Elsasser

    Welcome to Hidden Value, the column where Joe Elsasser, CFP, addresses common financial planning issues with insights advisors and their clients may not have considered. Many Americans have started to adjust to changes brought on by the sweeping tax overhaul enacted in 2017. However, new changes introduced by the recent Setting Every Community Up for […]

    10 TED Talks Advisors Recommend

    {February 5th, 2020} by Ginger Szala

    While interviewing top women in wealthtech for a recent cover story in Investment Advisor magazine, we noticed that several of these leaders mentioned that one of their favorite sources of information or inspiration were TED Talks. This online video site features a variety of experts, authors, business leaders and others who discuss in engaging and non-complex manners […]

    Alliance for Lifetime Income Launches Research Group

    {February 5th, 2020} by Melanie Waddell

    Industry academics Michael Finke and Wade Pfau will help the Alliance for Lifetime Income, a Walshington-based group that educates consumers about annuities, conduct retirement income research via its new Retirement Income Institute. The new Retirement Income Institute will conduct scholarly research and “develop innovative ideas to advance the Alliance’s mission of helping to increase the […]

    NAIFA to Arm Members With Financial Literacy Classes

    {February 5th, 2020} by Allison Bell

    The National Association of Insurance and Financial Advisors has come up with a response to concerns about Americans’ financial literacy: a one-hour financial literacy course that NAIFA members can offer in their own communities. The Falls Church, Virginia-based group is introducing the financial literacy curriculum today in Tysons, Virginia, at the group’s ninth annual Success Summit […]

    NAIFA Wants To Boost Nation’s Financial Literacy

    {February 5th, 2020} by Susan Rupe

    An industry association is taking aim at the nation’s lack of financial literacy. The National Association of Insurance and Financial Advisors is looking at the issue from two sides: lack of basic consumer financial education and a need for financial professionals to provide services. The project includes a one-hour course available for NAIFA members to […]

    MassMutual and CommonBond Launch Student Debt Refinancing to 2.6 Million People Through Financial Wellness Offering

    {February 5th, 2020} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–For millions of Americans looking to tackle student debt this year, Massachusetts Mutual Life Insurance Company (MassMutual®) is offering student loan refinancing through the workplace. The refinancing program is provided through CommonBond, a leading financial technology company, and is available to 2.6 million people who have access to MassMutual’s retirement plans, voluntary benefits […]

    Brighthouse Financial to Participate in the BofA Securities 2020 Insurance Conference

    {February 5th, 2020} by Brighthouse Financial

    February 04, 2020 04:15 PM Eastern Standard Time CHARLOTTE, N.C.–(BUSINESS WIRE)–Brighthouse Financial, Inc. (“Brighthouse Financial” or the “company”) (Nasdaq: BHF) announced today that Eric Steigerwalt, president and CEO, Brighthouse Financial, will participate in the BofA Securities 2020 Insurance Conference at approximately 1:45 p.m. Eastern Time on Wednesday, February 12, 2020. Mr. Steigerwalt will participate in […]

    Eagle Life Parent Company American Equity Ranks in J.D. Power Top 5 for Customer Satisfaction

    {February 5th, 2020} by Eagle Life Insurance Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–As a subsidiary of American Equity Investment Life Insurance Company, Eagle Life Insurance Company is proud to share American Equity earned the distinction of “Better than Most” as 4th place for customer satisfaction in the J.D. Power 2019 U.S. Life Insurance Study. The carrier’s satisfaction index score outpaced the annuity industry average […]

    American Equity Ranks in J.D. Power’s Top 5 for Customer Satisfaction

    {February 5th, 2020} by American Equity Investment Life Insurance Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Insurance Company, a leader in the sale of fixed index annuities, earned the distinction of “Better than Most” as 4th place for customer satisfaction in the J.D. Power 2019 U.S. Life Insurance Study. The carrier’s satisfaction index score outpaced the annuity industry average as well as other top […]

    LPL Financial Announces Fourth Quarter and Full Year 2019 Results

    {February 5th, 2020} by LPL Financial

        Fourth Quarter 2019 Key Performance Indicators Earnings per share (“EPS”) increased 13% year-over-year to $1.53. Net Income increased 5% year-over-year to $127 million. EPS Prior to Amortization of Intangible Assets** increased 13% year-over-year to $1.68. Total Brokerage and Advisory Assets increased 22% year-over-year to $764 billion. Total organic net new assets were an […]

    Prudential Financial, Inc. Announces 2019 Results

    {February 5th, 2020} by Prudential Financial, Inc.

    NEWARK, N.J.–(BUSINESS WIRE)–Prudential Financial, Inc. (NYSE:PRU) today reported fourth quarter and year-end 2019 results. For the fourth quarter of 2019, net income attributable to Prudential Financial, Inc. was $1.128 billion ($2.76 per Common share), compared to $842 million ($1.99 per Common share) for the fourth quarter of 2018. After-tax adjusted operating income was $950 million […]

    Jackson Names Axel André Chief Financial Officer

    {February 5th, 2020} by Jackson National Life Insurance Company

    LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) today announced that Axel André has been named Executive Vice President and Chief Financial Officer of Jackson. André most recently served as Chief Financial Officer of Individual Retirement at AIG. He will be based in the company’s Lansing, Michigan office and will assume his new role effective Feb. […]

    CUNA Mutual Group names Laurie Winger chief financial officer

    {February 5th, 2020} by CUNA Mutual Group

    MADISON, WI (February 3, 2020) — CUNA Mutual Group Executive Vice President Laurie Winger has assumed the role of chief financial officer in combination with her existing duties as the company’s chief product officer. Her new responsibilities coincide with the year-end retirement of former CFO Thomas J. Merfeld. As chief finance and product officer, Winger now leads the […]

    Principal Financial Group Poised To Pounce On SECURE Act Opening

    {February 5th, 2020} by John Hilton

    Coming off a very profitable fourth quarter, Principal Financial Group CEO Dan Houston sees more opportunity in the future thanks to the SECURE Act. The first direct writer of life insurance to report fourth-quarter earnings, Principal posted operating net income of $1.41 per share, which matched estimates and is up 27% year over year. The […]

    MDRT Gives $50,000 to Firefighters in Australia

    {February 5th, 2020} by Allison Bell

    The Million Dollar Round Table and the MDRT Foundation are giving $50,000 to bushfire relief efforts in Australia. The Park Ridge, Illinois-based organizations are sending $25,000 to the Australian Red Cross, and another $25,000 to the New South Wales Rural Fire Service. Bushfires have burned about 40,000 square miles of land in Australia in the past few month, and […]

    Massachusetts Dealing With Flood Of Comments On Fiduciary Proposal

    {February 5th, 2020} by John Hilton

    Work continues on a fiduciary rule proposed by the Massachusetts Securities Division despite a late flood of comments from around the country. The letter-writing campaign added to the rule opposition, which includes trade associations as well as Gov. Charlie Baker, R. A spokeswoman for Secretary of the Commonwealth William Galvin said a final rule could […]

    Regulators Close In On IUL Illustration Compromise

    {February 5th, 2020} by John Hilton

    Regulators and industry representatives came closer to agreement on a middle ground to save the controversial multipliers and bonuses that many blame for rosy indexed universal life illustrations. A National Association of Insurance Commissioners’ subgroup is still working through the details, but regulators seemed receptive to industry proposals that would limit maximum illustration rates to […]

    Brighthouse Adds Indexed Annuity: Annuity Product Update

    {February 5th, 2020} by Allison Bell

    Brighthouse Financial Inc. has added a single-premium indexed annuity aimed at the independent marketing organization market. The Charlotte, North Carolina-based insurer will be offering the new SecureAdvantage 6-Year Fixed Index Annuity annuity through IMOs affiliated with Market Synergy Group. Brighthouse has filed the contract as a non-variable contract. That means the company has agreed to protect […]

    Surprise!…Every U.S. Citizen Already Owns An Annuity

    {February 5th, 2020} by The Annuity Man

    The word “annuity” has somehow become the curse word of the financial industry.  Radio, TV, and internet ads blast the generic “I Hate Annuities” mantra to an uninformed public that doesn’t even know that they already own an annuity.  If It Acts Like A Duck… As the old saying goes, “If it walks like a duck […]

    LIMRA: Consumers’ Brand Awareness Of Life Insurers Remains Low

    {February 4th, 2020} by INN Insider

    A new LIMRA study finds 1 in 4 adult Americans cannot name a single company that sells life insurance and a majority (56%) are unable to name three life insurance companies. As discouraging as this may sound, it does reflect an uptick in unaided awareness of life insurance brands among U.S. consumers (chart), compared to […]

    How to Turn Your Nest Egg Into Steady Payments

    {February 4th, 2020} by Anne Tergesen

    Many Americans look with longing at old-fashioned pension plans, which cover a dwindling share of the workforce. After all, aside from providing a guaranteed monthly paycheck for life, pensions spare retirees the hassle and anxiety of figuring out how to make their nest eggs last. Now the retirement paycheck is staging a comeback—inside the 401(k). […]

    Judge Rules Against AIG Unit in Lawsuit Over $5.9 Million in Online Losses

    {February 4th, 2020} by A.M. Best

    NEW YORK – A federal judge has sided against AIG Specialty Insurance Co., a unit of American International Group Inc., ruling the carrier has to cover $5.9 million in losses incurred by a policyholder attacked by suspected Chinese fraudsters. Judge Jed S. Rakoff, of the U.S. District Court for the Southern District of New York, […]

    Are You Ready for Your Clients to Live to 100?

    {February 4th, 2020} by Jane Wollman Rusoff

    The gee-whiz factor may have dimmed with respect to digital voice assistants, drones and even, among the jaded, flying cars. But in the next decade, stunning high-tech developments will revolutionize every major industry on the planet. So says futurist Peter Diamandis, founder of more than 20 leading-edge tech companies, in an interview with ThinkAdvisor. Prominent […]

    The Biggest Estate Planning Blunders of All Time

    {February 4th, 2020} by Bryan Kuderna

    Estate planning is defined by Merriam-Webster as the arranging for the disposition and management of one’s estate at death through the use of wills, trusts, insurance policies, and other devices. A broader definition would include the same exercise in preparation of not only death but also one’s incapacitation. In plain English, it is instruction on […]

    IRS to Send 12 Teams Out to Audit Micro Captives

    {February 4th, 2020} by Allison Bell

    The Internal Revenue Service says it’s forming 12 audit teams to go after what it sees as “several thousands” abusive micro-captive insurance arrangements. The new examination teams will be made up of employees from the IRS Large Business and International and Small Business/Self-employed divisions, IRS officials announced Friday. “These teams will use all available enforcement […]

    Protective Life Realigns Operations

    {February 4th, 2020} by Allison Bell

    Protective Life Corp. is using a new corporate structure to organize its operations. The Birmingham, Alabama-based subsidiary of Dai-ichi Life Holdings Inc. of Tokyo has put its retirement operations in a new retirement division and its protection insurance operations in a new protection division. Aaron Seurkamp is the president of the retirement division. He has […]

    CUNA Mutual Group Adds New Leaders to National and Regional Sales Teams

    {February 4th, 2020} by CUNA Mutual Group

    MADISON, Wis. ̶  CUNA Mutual Group announced recently one national promotion and two local new hires to support strategic sales initiatives for its annuities business. Gina Riepel has been promoted to Director of Strategic Accounts for CUNA Mutual Group’s Annuities division. In addition, the company has hired Darius Tandy and Dylan Tito to support annuities sales efforts in California. Tandy […]

    The Hartford Announces Fourth Quarter And Full Year 2019 Financial Results; Also Provides 2020 Outlook For Selected Business Metrics And Increases Quarterly Dividend By 8%

    {February 4th, 2020} by The Hartford

    HARTFORD, Conn.–(BUSINESS WIRE)–The Hartford (NYSE: HIG) today announced financial results for the fourth quarter and year ended Dec. 31, 2019. “2019 was a pivotal year strategically for The Hartford as we positioned the company with enhanced capabilities to strengthen our competitive advantages in a dynamic market environment”, said The Hartford’s Chairman and CEO Christopher Swift. […]

    From Stay-At-Home Mom To Insurance Evangelist

    {February 3rd, 2020} by John Hilton

    Sheryl Moore found herself alone at just about the worst time in life to be alone. A single, stay-at-home mom of three kids with no child support and no job, she calculated her child care costs at $455 a week. And that’s even if she could find a job. Facing few options, Moore moved from St. […]

    AM Best Affirms Credit Ratings of CNO Financial Group, Inc. and Its Life/Health Subsidiaries

    {February 2nd, 2020} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of the life/health subsidiaries of CNO Financial Group, Inc. (headquartered in Carmel, IN) [NYSE: CNO]. These subsidiaries are referred to collectively as CNO Financial Group (CNO). Concurrently, AM Best has affirmed the Long-Term […]

    Cboe Announces Dynamic Lineup for 36th Annual Cboe Risk Management Conference U.S. 2020

    {February 1st, 2020} by Cboe Global Markets, Inc.

    CHICAGO, Jan. 31, 2020 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), one of the world’s largest exchange holding companies, will host the 36th annual Cboe Risk Management Conference (RMCSM) U.S. at the Hyatt Regency Coconut Point Resort in Bonita Springs, Florida, on Monday, March 2, through Wednesday, March 4. Known for decades as the premier educational forum for equity derivatives, […]

    As Voya Financial sells off insurance groups, attention turns to its broker-dealer

    {February 1st, 2020} by Bruce Kelly

    Voya Financial Inc. last month said it was selling its individual life insurance business, two years after it said it was selling its annuities businesses. Click HERE to read the full story via InvestmentNews

    Banned from selling securities but still hawking insurance

    {February 1st, 2020} by Bruce Kelly

    The Securities and Exchange Commission earlier this week barred three salesmen who worked at firms with the homiest of monikers: Balanced Financial Inc., Live Abundant and Old Security Financial Group. Click HERE to read the full story via InvestmentNews

    Elder Financial Abuse ‘A Crime Of The 21st Century’

    {February 1st, 2020} by Susan Rupe

    Elder financial abuse has been categorized as “a crime of the 21st century,” according to the presenter of a webinar on understanding elder financial exploitation and fraud. “I do see financial abuse of our elderly population is becoming, I’d almost say, a societal issue,” said Michele Kryger, elder and vulnerable client care officer with AIG Life […]

    Advisors: Don’t Let Clients Become Complacent Over Market Volatility

    {February 1st, 2020} by Susan Rupe

    After a volatile year in the markets, American investors ended 2019 feeling more confident about their finances than they have in a long time. According to the latest Allianz Quarterly Market Perceptions Study from Allianz Life, in the fourth quarter of 2019, worries about an impending market crash or recession were at their lowest levels […]

    Tetris, Taxes and Retirement

    {February 1st, 2020} by Kerry Pechter

    Taxes are often a retiree’s most vexing expense. That’s especially true for people who are debt-free. If bills are minimal and there’s no earned income, then property taxes, capital gains taxes, and taxes on superfluous IRA distributions loom larger in the retiree’s mind. Click HERE to read the full story via RIJ

    District of Columbia Replaces Insurance Commissioner

    {February 1st, 2020} by Allison Bell

    The District of Columbia has named a new regulator to oversee insurance. D.C. Mayor Muriel Bowser has appointed Karima Woods to be the acting commissioner of the D.C. Department of Insurance, Securities and Banking. Woods succeeds Stephen Taylor. Woods has been director of business development and strategy in the D.C. Office of the Deputy Mayor […]

    Industry-led ‘Retirement Income Institute’ to Launch

    {February 1st, 2020} by Kerry Pechter

    In the latest stage of its campaign to break through the fog of misinformation that keeps annuities obscure, the industry-led Alliance for Lifetime Income has created an academic spin-off to bring new and existing pro-annuity research to the world’s attention—in language that the world can easily understand. Click HERE to read the full story via […]

    Hedging Flows Supporting Treasury Rally May Have Further to Go

    {February 1st, 2020} by Stephen Spratt

    The coronavirus-fueled slide in Treasury yields may have triggered a phenomenon known as convexity hedging — which also means there could be further downside. The 10-year yield had held within a range of about 1.70% to 1.95% since October, before heading lower late last week as concerns about the spread of coronavirus from China sent […]

    Ameriprise CEO says firm focused on productivity as headcount slips again

    {February 1st, 2020} by Tobias Salinger

    Ameriprise’s financial advisor headcount is slipping, but CEO Jim Cracchiolo says he expects its force of nearly 9,900 to “pick up a bit” in 2020. He also points out that recruitment is fueling the broker-dealer’s higher revenue, earnings and client assets. “We actually feel good about the recruitment,” Cracchiolo told analysts on a Jan. 30 […]

    Minneapolis-based Ameriprise completes year of progress in advice and wealth management business

    {February 1st, 2020} by Patrick Kennedy

    Ameriprise is adding new banking services for its clients as its traditional Advice and Wealth Management segment continues to grow, but the financial-services company saw fourth-quarter net earnings decline in part because of hedges placed on variable annuities. Accounting for a one-time charge related to the annuities and others, adjusted operating earnings per share rose […]

    Policygenius Raises $100 Million

    {February 1st, 2020} by Allison Bell

    Policygenius Inc. — A company that sells life insurance and other products through the we— has raised about $100 million in funding from a group of investors. Kohlberg Kravis Roberts & Co. L.P. organized the round of funding. Two of the other companies on the investor list are the venture capital arms of Massachusetts Mutual Life […]

    New Credit Loss Rules May Smudge Life Insurers’ Earning: Moody’s

    {February 1st, 2020} by Allison Bell

    New credit loss forecasting accounting rules could make life insurers’ earnings go up and down a little more, and make their earnings reports harder to compare, according to rating analysts at Moody’s Investors Service. But, overall, the Financial Accounting Standards Board’s new Current Expected Credit Losses (CECL) reporting rules should have only a minor impact, […]

    Reg BI Creates ‘Fake Fiduciaries’: Jane Bryant Quinn

    {February 1st, 2020} by Jane Wollman Rusoff

    Regulation Best Interest is “a disaster for investors” because it “creates fake fiduciaries,” argues Jane Bryant Quinn, the veteran personal finance journalist and advocate for consumer rights. In a recent interview with ThinkAdvisor, she offered candid opinions on the Securities and Exchange Commission’s Reg BI, zero commissions, the Secure Act, certain annuities and financial advisors. […]

    Build a Million-Dollar Business Helping Middle America

    {February 1st, 2020} by Staff Writer

    “What if you could finally figure out your client’s financial needs for their secure financial future and, in doing so, create a million-dollar business for yourself?” Speak with Jon Dault for five minutes and try not to get thrilled about working in the life insurance and annuity business. The passion the 28-year industry veteran has […]

    AM Best Affirms Credit Ratings of Farmers New World Life Insurance Company

    {February 1st, 2020} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Farmers New World Life Insurance Company (FNWL) (Bellevue, WA). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect FNWL’s balance sheet strength, which AM Best categorizes as very strong, as well as […]

    Dan Houston to Speak at BofA Securities 2020 Insurance Conference

    {February 1st, 2020} by Principal Financial Group

    DES MOINES, Iowa–(BUSINESS WIRE)–Principal Financial Group® (Nasdaq: PFG) announced today Dan Houston, chairman, president & CEO, will participate in a fireside chat at the BofA Securities 2020 Insurance Conference on Thursday, February 13, 2020, at 8:35 a.m. (EST) in New York. Houston will speak to the company’s strategy to help customers worldwide achieve their financial goals, […]

    MetLife Renewed as Annuity Provider for the Thrift Savings Plan

    {February 1st, 2020} by MetLife

    NEW YORK–(BUSINESS WIRE)–Metropolitan Life Insurance Company (“MetLife”), a leading provider of income annuities to defined contribution (DC) plans, announced that it has been selected by the Federal Retirement Thrift Investment Board to continue to serve as the exclusive annuity provider for the Thrift Savings Plan (TSP), covering more than five million federal employees. MetLife has […]

    Ladenburg Shareholders Approve Merger With Advisor Group

    {February 1st, 2020} by Ladenburg Thalmann Financial Services Inc.

    MIAMI–(BUSINESS WIRE)–Ladenburg Thalmann Financial Services Inc. (NYSE American: LTS, LTS PrA, LTSL, LTSF, LTSK, LTSH) (“Ladenburg”) and Advisor Group today announced that at a special meeting of Ladenburg’s shareholders held January 30, 2020, Ladenburg’s shareholders overwhelmingly voted to approve the merger of Ladenburg and Advisor Group. The shareholder approval satisfies one of the conditions to […]

    Ameriprise Financial Reports Fourth Quarter 2019 Results

    {February 1st, 2020} by Ameriprise Financial, Inc.

    MINNEAPOLIS–(BUSINESS WIRE)–Ameriprise Financial, Inc. (NYSE: AMP): Earnings Per Diluted Share   Return on Equity, ex. AOCI Fourth Quarter 2019:     Fourth Quarter 2019:   GAAP $3.53   GAAP 33.1% Adjusted Operating $4.20   Adjusted Operating (1) 38.6% Adjusted operating earnings per diluted share increased 11 percent to $4.20 and adjusted operating return on equity increased […]

    Pacific Life Foundation Announces $7.25 Million Giving Program for 2020

    {February 1st, 2020} by Pacific Life

    NEWPORT BEACH, Calif.–(BUSINESS WIRE)–The Pacific Life Foundation has announced it plans to give $7.25 million in charitable funding in 2020. Supporting communities where Pacific Life employees live and work, including Orange County, California; Omaha, Nebraska; and Lynchburg, Virginia, the grants will focus on the areas of arts and culture; civic, community and economic development; environment; […]

    HOW TO PROVIDE THE BEST RETIREMENT ADVICE IN 2020

    {February 1st, 2020} by The American College of Financial Services

    Every decade brings change, particularly on financial fronts. For those planning for or entering retirement, the thought of change may be worrisome. Yet, with a strong financial advisor at their side, clients can take advantage of many opportunities in the years ahead. What will 2020 look like for retirement planning? We can safely assume that […]

    This can be done. Go do it.’: XYPN hires 2, hits 56% women on leadership

    {February 1st, 2020} by Ann Marsh

    Thanks to two new hires, XY Planning Network’s 17-person leadership team is now 56% women and the firm plans to further diversify its top executive ranks, full team and network of about 1,110 affiliated advisors. So how did XYPN hit this new mark and how does it plan to do more? By continuing to be […]

    Many Life Beneficiaries Have No Idea Where the Policy Is: NAIC

    {January 31st, 2020} by Allison Bell

    Only 41% of life insurance beneficiaries who are Baby Boomers say they know where the life insurance policy is stored, and only 33% say they know the name of the life insurer that wrote the policy. Beneficiaries in Generation Z are slightly more likely to say the know the name of the carrier, but Generation […]

    New York Life Debuts “Love Takes Action” Campaign for the Big Game

    {January 29th, 2020} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest mutual life insurer, today revealed the 60-second advertising creative to air during the Big Game on Sunday, February 2. The film, titled Agápē, launches New York Life’s new “Love Takes Action” campaign, a celebration of the company’s first 175 years. The creative will run between the game’s first and […]

    New NAIC Survey Shows Most Life Insurance Beneficiaries Aren’t Ready for their Roles

    {January 29th, 2020} by NAIC

    WASHINGTON, Jan. 28, 2020 /PRNewswire/ — When it comes to receiving life insurance benefits after a friend or relative has died, most beneficiaries are unprepared, with Millennials and Gen Z among the least ready, according to a new survey by the National Association of Insurance Commissioners (NAIC). Every year, millions of dollars in life insurance benefits go unclaimed […]

    SECURE To Ignite ‘Huge Boom’ In Annuities, But Not Immediately

    {January 29th, 2020} by Elizabeth Festa

    The SECURE Act will inspire a new batch of annuities and opportunities, but they might not show up until next year, according to insurance professionals. The Setting Every Community Up for Retirement Act is being called the most significant pension reform in a decade, but it will require education while also spurring product innovation. The […]

    Florida Bill Would Make Insurance Commissioner An Elected Position

    {January 29th, 2020} by Staff Reports

    A bill introduced by State Sen. Annette Taddeo, D, would make Florida the 12th state to elect its insurance commissioner. The bill introduced this month would make the commissioner of insurance a member of the governor’s cabinet. Thirty-nine states have appointed insurance commissioners. In 37 of those states, appointments are made by the governor, and […]

    Proposed Legislation In Florida Includes Electing Insurance Commissioner And Consumer Data Privacy

    {January 29th, 2020} by Cheryl Yakey , Vikram Sidhu and Jared Wilner

    Insurance Commissioner – If enacted, Senate Joint Resolution (SJR) 1460 would make Florida the twelfth state to elect its insurance commissioner. The great majority of states, currently 39, have appointed insurance commissioners. In 37 of those states, appointments are made by the governor, and in the remaining two, of which Florida is one, they are appointed […]

    AIG to Report and Host Conference Call to Review Fourth Quarter and Full Year 2019 Results on February 13, 2020

    {January 29th, 2020} by AIG

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) will report financial results for the fourth quarter and full year ended December 31, 2019 before the market opens on Thursday, February 13, 2020 and host a conference call that day to review the results at 9:00 a.m. ET. AIG’s press release and financial supplement will be […]

    When Your Client Can’t Find a Loved One’s Life Insurance Policy

    {January 29th, 2020} by Ray Farmer

    It’s unfortunately a scenario that is all too common. Your client unexpectedly loses her father and remembers that he had purchased a life insurance policy a number of years ago. But she can’t find it. Her father never told her the name of the insurer. He was old-school preferring to conduct business transactions by paper, so […]

    Where will the youth find retirement income?

    {January 29th, 2020} by Paola Peralta

    Some 63% of younger Americans polled by the Longevity Project and Morning Consult believe that they will live longer than their parents, with 70% of Gen Z members saying they will have a longer lifespan than their elders, according to this article in CNBC. The survey also found that 48% of younger Americans feel they […]

    Don’t Sleep on Reg BI Compliance, Industry Officials Warn

    {January 29th, 2020} by Melanie Waddell

    Industry officials are warning advisors and broker-dealers not to dawdle on compliance with the Securities and Exchange Commission’s Regulation Best Interest and advice-standards package, with one compliance firm stating that the consequences for noncompliance are “heavy.” Top of mind for advisors and broker-dealers is whether they “need to race to comply” with Reg BI if […]

    IRS Issues Guidance Amid Secure Act RMD Confusion

    {January 29th, 2020} by Melanie Waddell

    The Internal Revenue Service released guidance Monday for financial institutions on how to report required minimum distributions for 2020 under the Setting Every Community Up for Retirement Enhancement Act of 2019, or the Secure Act. The IRS Notice 2020-6 “is more of an institutional fix for the financial companies that sent out what are now […]

    Advisors’ Advice: What Does the Secure Act Really Mean for Clients?

    {January 29th, 2020} by Ginger Szala

    The Setting Every Community Up for Retirement Enhancement (Secure) Act has been called the most comprehensive retirement security legislation in decades. Overall, it has received a thumbs up for several changes, such as: It will be easier for small businesses to set up 401(k)s by increasing the cap under which they can automatically enroll workers […]

    5 Ways the New Coronavirus May Already Be Affecting U.S. Insurers

    {January 29th, 2020} by Allison Bell

    China’s new coronavirus outbreak may never cause a significant number of health insurance or life insurance claims in the United States, but it’s already joined two other coronavirus outbreaks — Severe acute respiratory syndrome (SARS) and Middle East respiratory syndrome (MERS) — as something that will shape how life insurance actuaries, investors and regulators see insuring […]

    Integrity Market Acquires Agent Pipeline

    {January 29th, 2020} by Allison Bell

    Internet Marketing Group LLC has acquired another life and health distributor. The Dallas-based senior products distributor announced today that it has scooped up Agent Pipeline Inc. of Saint Albans, West Virginia. Agent Pipeline distributes products such as Medicare Advantage plans, Medicare supplement insurance, individual health plans, prescription drug coverage, and final expense products. Click HERE to […]

    4 Ways Women Can Win with the SECURE Act

    {January 29th, 2020} by Evan T. Beach

    While women have historically done better than men in the stock market by about 0.4% per year, they are undeniably in a worse position when it comes to retirement security. This disadvantage stems from fewer years spent in the workforce, longer life expectancy, the wage gap and less access to workplace retirement plans. The SECURE Act, which […]

    Survey Team Looks at Who Owns Annuities

    {January 29th, 2020} by Allison Bell

    Education may have more of a bearing on who in the United States ends up owning annuities than income does. Managers of the Longevity Project-Morning Consult Poll have reported data supporting that idea in a collection of results from an online survey of U.S. adults that was conducted in late 2019. Palisades Media Ventures, a […]

    What is a Multi-Year Guarantee Annuity (MYGA)?

    {January 29th, 2020} by The Annuity Man

    How can people say that they “hate annuities” and love CDs at the same time?  Short answer is they can’t.  Multi-Year Guarantee Annuities (MYGAs) are the annuity industry’s version of a CD (Certificate of Deposit).  Both guarantee an annual interest rate for a specific period of time that you choose.  Both have no annual fees, and both fully protect […]

    Security Benefit’s Index A ‘Fraudulent Scheme,’ Lawsuit Says

    {January 29th, 2020} by John Hilton

    A new and expanded class-action lawsuit alleges that Security Benefit Life Insurance Co. defrauded consumers by implementing a “fraudulent scheme” involving a proprietary index used in two fixed indexed annuities. The lawsuit was filed last week in the U.S. District Court for the Southern District of Florida. Three of the plaintiffs were part of a […]

    First of Its Kind Solution Helps Americans Meet Retirement Income Needs by Joining Target Date Fund Investing with Protected Lifetime Income

    {January 29th, 2020} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) and Capital Group, home of American Funds, are partnering to help investors prepare for income in retirement with the launch of the new American Legacy® Target Date Income variable annuity, the first-ever protected lifetime income solution with access to a target date series. This unique solution combines the features […]

    Baby boomers only slightly ahead of millennials when it comes to retirement planning

    {January 29th, 2020} by NAPFA

    CHICAGO, Jan. 22, 2020 /PRNewswire/ — Going into 2020, more than half (59%) of millennials haven’t considered their options for retirement. However, this trend is not limited to younger Americans. According to a survey from the National Association of Personal Financial Advisors (NAPFA), one in three baby boomers — Americans who are nearing or starting retirement — hasn’t […]

    After Stretch IRAs, What Retirement Breaks Could Congress Chop Next?

    {January 28th, 2020} by Laura Saunders

    Late last year, Congress stung many savers when it curtailed the tax benefits of so-called Stretch IRAs. The change derailed those who carefully arranged for younger heirs to inherit their IRAs, and the only way to preserve the plans was to die before Jan. 1, 2020. The revision to Stretch IRAs’ substantial benefits makes it […]

    Trusted Contact Rule Helps Advisors Broach Serious, Sensitive Subjects

    {January 28th, 2020} by Rich Blake

    Financial exploitation of the elderly, often by family members, has been on the rise over the past decade — and it tends to increase during the holiday season with greater numbers of out-of-town relatives gathering together, experts say. Bank and credit union employees, given their central position in most abuse cases, are the critical first […]

    Kansas City Life Declares Quarterly Dividend

    {January 28th, 2020} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., Jan. 27, 2020 /PRNewswire/ — The Board of Directors of Kansas City Life Insurance Company declared a quarterly dividend of $0.27 per share on January 27, 2020. The dividend will be payable on February 12, 2020 to stockholders of record on February 6, 2020. Kansas City Life Insurance Company (OTCQX: KCLI) was established in 1895 and is based in Kansas City, Missouri. The Company’s primary business is providing financial protection through the sale of life insurance and annuities. The Company operates in […]

    AIG Launches New AllianceBernstein Multi-Asset Index Designed Exclusively for AIG Index Annuities

    {January 28th, 2020} by AIG Life & Retirement

    NEW YORK–(BUSINESS WIRE)–AIG Life & Retirement, a division of American International Group, Inc. (NYSE: AIG) and a leading provider of annuities1, today announced the launch of the new AB All Market Index. This multi-asset index has been developed exclusively for AIG’s Power Select Index Annuities by AllianceBernstein (AB) and will be distributed primarily through Market […]

    Accenture Receives Two XCelent Industry Awards for Life Insurance Policy Administration

    {January 28th, 2020} by Accenture

    NEW YORK–(BUSINESS WIRE)–Accenture (NYSE: ACN) has received two XCelent awards for its life insurance and annuity platform in a recent report from research and advisory firm Celent. In the report, “North American Policy Administration Systems ABCD Vendor View,” Celent recognized the Accenture Life Insurance and Annuity Platform (ALIP) as the top performer among 20 life […]

    Protective Life Realigns Operational Structure with Focus on Customer Needs

    {January 28th, 2020} by Protective Life

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced a new structure that organizes its life and annuity retail businesses into two distinct operating divisions based on customer needs: Protection and Retirement. The new structure will go into effect on February 1, 2020. “In recent […]

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