NATIONAL ANNUITY AWARENESS MONTH EDITION
{June 26th, 2024} by Wink's Intel Pros
June is National Annuity Awareness Month! We will be reprinting our Chief Storyteller, Sheryl Moore’s most requested annuity-focused articles all month long; they will be indicated with “reprint” in the title. You’ll find these timeless articles are still relevant today. National Annuity Awareness Month aligns perfectly with Wink’s top priority of ensuring that the public […]
Reprint: How to Change the Narrative Around Annuities, Annuity Awareness Month
{June 26th, 2024} by Sheryl J. Moore
June is Annuity Awareness Month, which is basically like a big, nerdy party for an annuity evangelist like me. This is primarily because I get to be on stage more often, do more webinars and Zooms than is typical. Heck, a few years ago, I even had the opportunity to work with my former Governor […]
Reprint: Americans Are Demanding Annuities #AnnuityAwarenessMonth
{June 26th, 2024} by Sheryl Moore
I have seen the demand for annuities grow stronger and stronger over the past couple of decades. When I talk about this with colleagues in the annuity industry, they think I am being facetious. What? You haven’t seen the same? Well, let me show you about the demand for annuities from my own perspective. Click […]
REPRINT: 100 facts your clients need to know about annuities: #AnnuityAwarenessMonth
{June 26th, 2024} by Sheryl J. Moore
Did you know that that the top fear of Americans is outliving their retirement income? Death comes in as the second top fear. It’s easy to see that annuities are still the black box of the insurance industry … what a shame. Did you know that the top fear of Americans is outliving their retirement income? (Death […]
REPRINT: ANNUITY ILLUSTRATIONS: LIABILITY YOUR AGENTS DON’T NEED #AnnuityAwarenessMonth
{June 26th, 2024} by Sheryl J. Moore
When it comes to life insurance sales, you cannot close the deal without an illustration. Thanks to the National Association of Insurance Commissioner’s (NAIC’s) Life Insurance Illustration Model Regulation, there are very few instances where one need not collect an illustration to get a life policy issued. However, when it comes to the annuity side […]
Symetra Enhances Trek® Plus RILA with New Crediting Strategies
{June 20th, 2024} by Symetra
BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra Life Insurance Company unveiled multiple enhancements to Symetra Trek® Plus, its signature registered index-linked annuity (RILA), including two new indexed account options that add some downside protection and higher potential returns in flat markets. “Symetra has been very diligent about building a set of annuity products that work in a variety of economic […]
We Have Regulators Too, Bermuda’s Insurers Say
{June 20th, 2024} by Allison Bell
The life and annuity insurers and reinsurers of Bermuda want the world to know something: Bermuda has insurance regulators, too. The companies’ trade group, Bermuda International Long Term Insurers and Reinsurers, has posted a paper that makes the case for why Bermuda is a sophisticated, attractive insurance regulatory jurisdiction, not primarily a place where U.S. life and […]
National Life Group is a ‘progressive mutual,’ CEO says, with record sales
{June 20th, 2024} by John Hilton
National Life Group is one of the oldest mutual insurance companies in the United States, but CEO Mehran Assadi likes to call the insurer, “a progressive mutual.” “Basically, it’s all about performing and being focused like a stock company with a long-term perspective of a mutual insurance company,” Assadi said during an investor call this […]
Reprint: Compensation: Commission vs. Fees #AnnuityAwarenessMonth
{June 20th, 2024} by Sheryl J. Moore
Never in my decades of insurance experience have I witnessed a debate on social media that is more heated and passionate than that of fee-based advisors versus those who are commissioned. The argument? “One cannot act in the client’s best interests unless they are a fiduciary who does not get paid a commission.” Fiduciaries […]
Reprint: Innovation in Annuities #AnnuityAwarenessMonth
{June 20th, 2024} by Bloomberg
A fireside chat with three annuity industry experts and a BI economist to discuss the space, as it relates to sales metrics, distribution and product innovation. Topics include the sales growth outlook for the Annuity space (Fixed, Variable, Indexed, RILA), product innovation in the index area, opportunities in the 401(k) market, competitive dynamics and the […]
Advocate concerned that NAIC accelerated underwriting effort lacks teeth
{June 20th, 2024} by John Hilton
After putting accelerated underwriting aside for a year, state insurance regulators are out with tentative guidance on the topic. But one longtime consumer advocate wonders what took so long. Birny Birnbaum, executive director of the Center for Economic Justice, noted that regulators have studied accelerated underwriting for at least eight years. Click HERE to read the full […]
Globe Life reports web portal breach as troubling year continues
{June 20th, 2024} by John Hilton
Globe Life Insurance Co. self-reported a potential web portal breach Friday, the latest in a series of troubling incidents for the company. In a Form 8-K filing, Globe Life said it was contacted Thursday by a state insurance regulator about the potential breach. The insurer “initiated a review of potential vulnerabilities related to access permissions and […]
S&P 500 Races Toward 30th All-Time High of 2024
{June 20th, 2024} by Rita Nazareth
Stocks headed toward fresh all-time highs as several big techs climbed despite a jump in Treasury yields, with traders gearing up for retail-sales data and a slew of Federal Reserve speakers. The S&P 500 was set to close with its 30th record this year. Some Wall Street strategists rushed to raise their targets even as many hedge funds grow […]
Annuity salesman sentenced to 19 years in what prosecutors call epic 17-year fraud scheme
{June 20th, 2024} by Lee Rood
On Wednesday, federal court Judge Rebecca Goodgame Ebinger sentenced Flaherty to 19 years in prison, a rarity for a so-called white-collar crime. U.S. Attorney Richard Westphal’s office had sought a harsh sentence of 17½ to 20 years in part because of the number of vulnerable seniors Flaherty swindled and his lack of remorse. The judge […]
Ken Fisher’s Fortune to More Than Double on Private Equity Sale
{June 20th, 2024} by Devon Pendleton
Finance billionaire Ken Fisher’s net worth is poised to rise by $7 billion following the sale of a minority stake in his investment adviser, Fisher Investments. Private equity firm Advent International and a unit of Abu Dhabi Investment Authority are paying at least $2.5 billion and potentially as much as $3 billion for a stake that values […]
Annuity Owners Face Online Information Gap
{June 20th, 2024} by Allison Bell
Typical annuity owners appreciate what you’re telling them about annuities, but they think that much of the annuity information posted online is useless. About 84% of the annuity owners who participated in a recent Nationwide survey said that they had learned a lot about annuities from their financial professionals, and 48% said they had looked […]
Survey: Most Americans Do Not Fully Understand Insurance Coverage…Yet 86% Say They Do
{June 20th, 2024} by Independent Insurance Agents & Brokers of America (the Big “I”) and Trusted Choice
ALEXANDRIA, Va.–(BUSINESS WIRE)–Consumers have many questions about insurance coverage, and a new survey shows that even the most discerning policyholders do not fully understand the intricacies. Ahead of National Insurance Awareness Day on June 28, Trusted Choice–the national consumer brand representing the members of the Independent Insurance Agents & Brokers of America (the Big “I”)–surveyed consumers about their […]
Best’s Special Report: U.S. Life/Annuity Industry’s Net Income Drops 80% in First-Quarter 2024
{June 20th, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–The U.S. life/annuity industry saw its net income drop by 80% in the first quarter of 2024 compared with the same prior-year period, according to preliminary financial results. This financial review is detailed in a new AM Best report, “First Look: Three-Month 2024 US Life/Annuity Financial Results,” and the data is derived from companies’ three-month […]
Carriers Serve Up a New Flavor of Fixed-Rate Annuities
{June 20th, 2024} by Cyril Tuohy
“The point here is to offer consumers a simple product with greater upside potential,” said Sheryl Moore, CEO of Wink, publisher of Wink‘s Sales & Market Report, which tracks life and annuity markets. Regular fixed-rate contracts, known as multiyear guaranteed annuities, or MYGAs, offer a fixed return, typically over three, five or seven years, but sometimes more. Their […]
Guardian and Pelago launch new partnership to support tobacco-free lifestyle and inspire well-being®
{June 20th, 2024} by Guardian
NEW YORK, June 17, 2024 /PRNewswire/ — The Guardian Life Insurance Company of America® (Guardian) has announced a new partnership with Pelago, the leading digital clinic partner to U.S. businesses and health plans for substance use management. For Guardian members with workplace-sponsored dental insurance, Pelago will guide and support individuals through a personalized and confidential tobacco cessation program leveraging […]
Foresters Financial celebrates 150 years of protecting families: A century and a half of service across Canada, the United States, and the United Kingdom
{June 20th, 2024} by The Independent Order of Foresters
TORONTO, June 17, 2024 /PRNewswire/ – Foresters Financial™ (Foresters), the global life insurer helping its members do more of the good they want to do, today proudly celebrates its 150th anniversary. This milestone not only marks a century and a half of unwavering commitment to its members but also reinforces its dedication to the core values of community, […]
John Hancock Becomes First Life Insurer to Offer Customers Discounted Access to Prenuvo Whole-Body MRI Scans
{June 20th, 2024} by John Hancock
BOSTON, June 18, 2024 /PRNewswire/ – John Hancock, a unit of Toronto-based Manulife, today announced it is the first insurer in the U.S. to offer discounted access to Prenuvo’s1 state-of-the-art, whole-body MRI scans to eligible John Hancock Vitality customers.2 An industry first, John Hancock Vitality members will receive a $500 discount3 on Prenuvo’s whole-body scans. With this offering, John Hancock strengthens its commitment […]
“Higher for longer” interest rate environment is boosting life insurance demand, Swiss Re Institute
{June 20th, 2024} by Jack Willard
Swiss Re Institute is forecasting a 40% rise in insurers’ investment income on average, for insurers in the largest eight life markets in the five years to 2027, driven primarily by higher bond yields. In a recent blog authored by James Finucane, Senior Economist, Swiss Re Institute & Loïc Lanci, Economist, Swiss Re Institute, the […]
Integrity Launches Integrity Wealth to Expand Access to Comprehensive Life, Health and Wealth Solutions for More Americans
{June 20th, 2024} by Integrity Marketing Group, LLC
DALLAS, June 18, 2024 /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 the official brand launch of Integrity Wealth. With more than $46 billion in assets under management and advisement and an extensive network of wealth advisors across all 50 states, […]
IRS To Crack Down On ‘Basis Shifting’ Tax Avoidance By Business Partnership
{June 20th, 2024} by Tracey Longo
The Biden administration is ramping up new audit teams and regulations to collect some $50 billion in taxes over the next decade from business partnerships such as hedge funds, real estate investors and wealthy individuals it says inappropriately use “basis shifting” to avoid paying taxes, the Treasury Department announced. The Biden administration says business partnerships […]
Lincoln National Life settles with DOL over insurability practices
{June 20th, 2024} by Kenneth Araullo
A unit of Lincoln Financial Group has reached a settlement agreement with the US Department of Labor to revise its evidence of insurability requirements, the federal agency announced. Lincoln National Life Insurance Co will adjust its “proof of good health” requirement for participants in job-based life insurance plans, according to the DOL. As per AM Best, […]
Agonizing over “Fiduciary”
{June 20th, 2024} by Dan Solin
I support the efforts of The Institute for the Fiduciary Standard to subject all those providing financial services to a fiduciary standard of care. The Department of Labor has embarked on a “fourteen-year-old quest” to define fiduciary status. Its latest effort is outlined in its Retirement Security Rule, published on April 25, 2024, which defines an investment advice fiduciary. […]
Fidelity® and Envestnet Expand Relationship to Deliver Next-Generation Unified Wealth & Advisory Platform
{June 20th, 2024} by Fidelity Investments
BOSTON & BERWYN, Pa.–(BUSINESS WIRE)–Fidelity Investments and Envestnet (NYSE: ENV) today announced the expansion of their 20+ year relationship to deliver a comprehensive wealth and advisory solution that builds on the success of Fidelity Managed Account Xchange® (FMAX), Fidelity’s wealth management platform, and the firms’ long-standing collaboration that has grown to more than $500 billion across […]
How to Explain RILAs Better
{June 20th, 2024} by Myles J. Lambert
In the previous two articles in this series, I gave an overview of what registered index-linked annuities, or RILAs, are and the benefits that they can bring to a client’s retirement portfolio. In this final article of the series, I will share some tips to help financial professionals drive more effective client conversations about RILAs. […]
FIRST QUARTER 2024 LIFE INSURANCE SALES
{June 13th, 2024} by Sheryl J. Moore
All Universal Life Sales for the first quarter of 2024 were $1,040 million. Given that this is the first quarter that Wink has collected data on sales of all life insurance products, comparisons will be available in future quarters. All universal life (UL) products include fixed UL, indexed UL, and variable UL products. Total 1Q2024 […]
Wink, Inc. Releases First Quarter, 2024 Life Sales Results
{June 13th, 2024} by Wink's Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE Life insurance sales fall in the First Quarter Wink, Inc. Releases First Quarter, 2024 Life Sales Results Des Moines, Iowa. June 12, 2024– Wink, Inc. released the first quarter, 2024 life sales results in its 107th edition of Wink’s Sales & Market Report. Wink’s Sales & Market […]
REPRINT: DON’T ASSUME PROSPECTS KNOW ANNUITIES, #AnnuityAwarenessMonth
{June 13th, 2024} by Sheryl J. Moore
DON’T ASSUME PROSPECTS KNOW ANNUITIES April 21, 2013 by Sheryl J. Moore By Sheryl J. Moore, President and CEO of Moore Market Intelligence, an indexed product resource in Des Moines, IA. I was speaking to a health insurance agent today who was looking for information on life insurance and annuities. He was genuinely interested […]
Reprint: Wink’s Annuity Quick Reference by Sheryl J. Moore #AnnuityAwarenessMonth
{June 13th, 2024} by Sheryl J. Moore
Originally posted on March 1, 2022 “I do not endorse any company/product. It’s not that I want people to buy annuities; I just want them to have credible information about them so that they can make a decision about if they are right for them.” Wink’s CEO, Sheryl J. Moore Click to view Wink’s […]
Reprint: How to Change the Narrative Around Annuities: #AnnuityAwarenessMonth
{June 13th, 2024} by Sheryl J. Moore
June is Annuity Awareness Month, which is basically like a big, nerdy party for an annuity evangelist like me. This is primarily because I get to be on stage more often, do more webinars and Zooms than is typical. Heck, a few years ago, I even had the opportunity to work with my former Governor […]
Kenneth King’s webinar regarding A-Cap and 777 Re
{June 13th, 2024} by THE ESK
I fully appreciate it won’t be for everyone, but for completeness and given the level of attention it has attracted in the UK media and particularly the ongoing 777 Partner situation at Everton, I thought it worth placing as a matter of record. There’s both an audio recording of the webinar and a full transcript. […]
Everton Gets Funding Offer From Firm Behind Previous Bidder
{June 13th, 2024} by David Hellier and Jill R. Shah
(Bloomberg) — Advantage Capital Holdings LLC has made a proposal to invest in Everton FC, people familiar with the matter said, adding another unexpected twist to the takeover saga surrounding the English Premier League football club. New York-based A-Cap and a partner firm have submitted a plan that would see them refinance all of Everton’s […]
777 Re credit ratings withdrawn by AM Best
{June 13th, 2024} by Kenneth Araullo
Following a string of troubles, AM Best has withdrawn the financial strength rating of C- (Weak) and the long-term issuer credit rating of “ccc-“ (Weak) of 777 Re Ltd., based in Hamilton, Bermuda. At the time of the withdrawal, these ratings were under review with negative implications. Click HERE to read the full story via […]
FMOs doing due diligence on carriers has struck a chord.
{June 13th, 2024} by Sheryl J. Moore
I love my FMOs. The principals of the FMOs are some of my closest friends in this business. They have taught me so much about this business, over the past 25 years. That said- my recent post about FMOs doing due diligence on carriers has struck a chord. Several marketing groups reached out to me, […]
I mean, I know this isn’t exactly warm and fuzzy news about annuities, but…
{June 13th, 2024} by Sheryl J. Moore
Is it just me? Or, does it seem that InvestmentNews is getting less and less friendly toward annuities over the past few weeks? Click HERE to read I mean, I know this isn’t exactly warm and fuzzy news about annuities, but… “…an expensive and often misunderstood investment product?” I guess my life insurance policy could […]
Higher interest rates transforming life insurance growth and profitability: Swiss Re
{June 13th, 2024} by Kane Wells
Higher interest rates worldwide are reportedly transforming the outlook for life insurance growth and profitability, with a new high anticipated for US fixed annuity sales this year after record sales in 2022 and 2023, as per a new Swiss Re Institute report. Jérôme Jean Haegeli, Swiss Re’s Group Chief Economist, commented, “Higher interest rates are […]
Insurers, AM Best trade accusations in lawsuit over ratings downgrade
{June 13th, 2024} by John Hilton
Atlantic Coast Life Insurance and Sentinel Security Life Insurance … The insurers are part of the A-Cap insurance … Universal Life Insurance Solution … Click HERE to read the full story via INN Wink’s Moore on the Market: A-CAP email drama! Looks like we’ll know more about this case after June 28, 2024. Thanks for […]
Prioritizing Protected Growth
{June 13th, 2024} by Daniel Herr
It’s no secret that the fixed indexed annuity (FIA) market is booming, with sales expected to reach nearly $100 billion in 20251. This growth is attributed to the fact that FIAs are a perfect fit for the growing number of consumers who want to prioritize protection, but don’t want to sacrifice opportunities for growth. In […]
Coming DOL fiduciary rule likely pushing annuity sales higher, Wink says
{June 13th, 2024} by Staff Reports
Deferred annuity sales were up nearly 19% in the first quarter over the same period last year, Wink, Inc. reported today. Click HERE to read the full story via INN Wink’s Moore on the Market: I predict that the DOL’s fiduciary rule is going to start a “fire sale” mentality in the annuity business. […]
Life and Annuity Issuers Prepare to Feast on Commercial Real Estate
{June 13th, 2024} by Allison Bell
The same higher interest rates that are hurting typical commercial real estate market players are helping life and annuity issuers make great investment deals. John Murray, a portfolio manager at PIMCO, talked about the effects of the health gap Wednesday at S&P Global Ratings’ 40th insurance conference in New York The same higher interest rates that […]
How Likely Is That Annuity to Stick?
{June 13th, 2024} by Allison Bell
Will your client’s new annuity stay in force for decades, or only until the surrender-charge period ends? Or, will it suddenly just go poof? Members of the Society of Actuaries Research Institute’s Individual Annuity Experience Committee studied that topic together with LIMRA. Click HERE to read the full story via Think Advisor Wink’s Moore […]
The Middle Market Has Changed
{June 13th, 2024} by Allison Bell
Ordinary Americans of all ages are having trouble with planning and saving, and financial services players need to step up and help. Terrance Williams, the president and chief executive officer of TruStage, talked about his vision for easing the strain on those customers in a recent interview. Click HERE to read the full story via […]
U.S. Life Application Activity Cools
{June 13th, 2024} by Allison Bell
U.S. life insurance application activity cooled in May, after heating up in April. Shoppers submitted 0.6% fewer applications last month than in May 2023, MIB Group reports. MIB, a Braintree, Massachusetts-based life insurance industry underwriting support group, bases its monthly activity reports on its application checking systems’ processing volume. Click HERE to read the full story via […]
MassMutual CEO Aims for Bigger Role in Annuities
{June 13th, 2024} by Allison Bell
Roger Crandall, the chief executive officer of MassMutual, said Wednesday that he wants the company to expand its annuity business the way it’s expanded its cash-value life business. “We think scale matters,” Crandall said in New York at S&P Global Ratings’ 40th insurance conference. “It’s just harder if you don’t have scale.” Click HERE to […]
5 Questions: Vanguard’s New Report on Annuities in Retirement Plans
{June 13th, 2024} by Allison Bell
Vanguard put a team of its experts to work on answering one of the major retirement planning questions of the day: Will adding an annuity, or an annuity-like feature, to a target-date fund inside a 401(k) plan really help workers get a modern alternative to the old defined benefit pension plan, or will it just create all […]
Financial challenges hit harder for widowed women
{June 13th, 2024} by Press Release
MINNEAPOLIS, June 12, 2024 /PRNewswire/ — A new Thrivent survey reveals more than half of widowed women experienced financial challenges after their spouse’s passing, with 51% either living paycheck to paycheck or struggling to manage their bills. A lack of proactive financial planning could be to blame: 41% of the widowed women surveyed said they didn’t have […]
Goldman Sachs survey finds RILA acceptance, rise ‘meteoric’
{June 13th, 2024} by Doug Bailey
Reacting to expanding investor demands, annuity sellers are emphasizing value propositions that strike a balance between managing downside risk while offering opportunities for upside participation. Buffered annuities, such as Registered Index Linked Annuities (RILAs), have seen acceptance that is “rather meteoric,” according to Marci Green, head of Retirement Intermediary and Insurance Distribution at Goldman Sachs. […]
Insurers, AM Best trade accusations in lawsuit over ratings downgrade
{June 13th, 2024} by John Hilton
Update: Late Tuesday, Judge Rukhsana L. Singh ordered AM Best to deliver the disputed documents to him by Thursday. Singh will review the documents sought by plaintiffs, his ruling states. A pair of life insurers suing AM Best over a potential ratings downgrade say the defendant is refusing to share emails related to the controversial move. AM […]
South Carolina couple sue advisor, Symetra over IUL-funded plan
{June 13th, 2024} by John Hilton
A South Carolina couple claims that using an indexed universal life policy in a retirement planning strategy cost them substantial life savings. Beth and David Yokel, of Greenville County, claim their advisor sold them on a retirement plan centered around loans from a Symetra Accumulator IUL policy. Four years of premium payments totaling $800,000 was […]
Whole life down as life insurance sales slump in Q1, Wink reports
{June 13th, 2024} by Staff Reports
Depressed whole life sales led a disappointing first quarter for the life insurance market, Wink, Inc. reported. Whole life sales hit $1 billion for the quarter, down 12.8% compared with the previous quarter, and down 7.4% compared to Q1 last year. Items of interest in the whole life market included the top primary pricing objective […]
Jackson Awards $775,000 in Grants to Nonprofits Across Lansing, Nashville and Chicago
{June 13th, 2024} by Jackson National Life Insurance Company
LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®), the main operating subsidiary of Jackson Financial Inc.i (NYSE: JXN), today announced it has awarded $775,000 to nonprofits serving the communities where Jackson has offices: Lansing, Michigan; Nashville, Tennessee; and Chicago, Illinois. These funds will support the ability for nonprofit clients to obtain affordable financial services, establish savings […]
Pacific Life Honored for Marketing Achievement in the Areas of Lifetime Income and ESG
{June 13th, 2024} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life’s Institutional business team was honored with three Hermes Creative Awards, two Stevie® Awards from The American Business Awards®, and four Telly Awards for work that includes a financial literacy white paper, an ESG motion graphic video, and The Wave Strength podcast series. Decoding Retirement: Key Insights into Participant Preferences for Lifetime Income Options, […]
Gen X Approaching Retirement Crunch Time with Savings Regrets
{June 13th, 2024} by Allianz Life Insurance Company of North America
MINNEAPOLIS–(BUSINESS WIRE)–Gen Xers, who are mostly in their late 40s and 50s, are approaching an important time in preparing to retire. Yet, Gen Xers are feeling less confident than ever about their finances and more worried about retirement than boomers or millennials, according to the 2024 Annual Retirement Study* from Allianz Life Insurance Company of […]
AIG Completes Deconsolidation of Corebridge Financial
{June 13th, 2024} by AIG
NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today announced it has met the requirements for the deconsolidation of Corebridge Financial (NYSE: CRBG) for accounting purposes. The deconsolidation is a result of AIG’s decision to waive its right to majority representation on the Corebridge Financial Board of Directors and the resignation of Chris Schaper, Executive […]
IDEA Insurance Agency Joins Integrity to Increase Insurance Accessibility in Underserved Communities
{June 13th, 2024} by Integrity Marketing Group, LLC
DALLAS, June 11, 2024 /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 IDEA Insurance Agency, an independent marketing organization based in Orlando, Florida, and led by Jorge and Maria Collado. Financial details of the partnership were not disclosed. “Integrity […]
Annuity.com, Inc. Acquires Safe Money Radio
{June 13th, 2024} by Annuity.com
GILBERT, ARIZONA, UNITED STATES, June 11, 2024 /EINPresswire.com/ — Annuity.com, Inc., a rapidly growing fintech and financial media company, today announced its acquisition of the trademark rights to Safe Money Radio, one of the nation’s largest and longest-running retirement income radio shows. This strategic move follows the company’s recent acquisition of annuity.com and further positions it to […]
Wink, Inc. Releases 1st Quarter, 2024 Annuity Sales Results
{June 6th, 2024} by Wink's Press Release
— FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE Indexed and Structured Annuity Sales are on a Hot Streak! Wink, Inc. Releases 1st Quarter, 2024 Annuity Sales Results Des Moines, Iowa. June 5th, 2024– Wink’s Sales & Market Report, the insurance industry’s #1 resource for annuity sales data since 1998, released its 107th edition […]
First Quarter 2024 Annuity Sales
{June 6th, 2024} by Sheryl J. Moore
All Annuity Sales Total 1Q2024 all annuity sales $105,705 million. Given that this is the first quarter that Wink has collected data on income annuity sales, comparisons will be available in future quarters. All annuities include sales of multi-year guaranteed, fixed, indexed, structured, variable, immediate income, and deferred income annuities. Deferred Annuity Sales Total 1Q2024 […]
RILAs Are Not the Only Annuities With Sizzle
{June 6th, 2024} by Allison Bell
Registered index-linked annuity (structured annuity) sales are climbing — and so are sales of the RILAs older siblings, non-variable indexed annuities. Sales of non-variable indexed annuities climbed 29% between the first quarter of 2023 and the first quarter of 2024, to $29 billion, according to new issuer survey data from Wink. Read the full […]
American Equity to move into downtown Des Moines building owned by Nationwide
{June 6th, 2024} by Tyler Jett
“As a large corporate employer and a good citizen, we want to be able to support a vibrant downtown,” Lorenzen said. “We think that’s important for the long-term success of Des Moines.” American Equity has an 8% share of the indexed annuity market, according to Wink’s Sales & Market Report. The company currently leases offices […]
Homework before advising people in a public forum
{June 6th, 2024} by Sheryl J. Moore
So, I didn’t expect The White Coat Investor to endorse insurance products, when appropriate, but they sure didn’t mince their words. Read their story at Mortgages, Universal Life Insurance, and Annuities “This person is not a financial advisor. You might think you’re getting some sort of beneficial financial advice because you once bought an insurance […]
Sammons Retirement Solutions® Launches the Nasdaq-100 Max 30™ Index on the LiveWell Dynamic Annuity RILA
{June 6th, 2024} by Sammons Financial Group
WEST DES MOINES, Iowa–(BUSINESS WIRE)–Sammons Retirement Solutions, a division of Sammons Institutional Group®, Inc., and member company of Sammons Financial Group, is partnering with Nasdaq® to launch the Nasdaq-100 Max 30™ Index on the LiveWell Dynamic Annuity®, a registered index-linked variable annuity (RILA). This new index is available exclusively on the LiveWell Dynamic Annuity, which is the only RILA on the market […]
LIBRA Insurance Partners Announces Partnership with Luma Financial Technologies to Enhance Annuity Distribution Experience
{June 6th, 2024} by LIBRA Insurance Partners
BALTIMORE, June 6, 2024 /PRNewswire/ — LIBRA Insurance Partners, the largest independently owned life insurance marketing organization (IMO) in the U.S., is proud to announce a partnership with Luma Financial Technologies (“Luma”). Luma’s award-winning technology provides cutting-edge annuity solutions, and this collaboration equips LIBRA’s partner firms with the tools needed to meet the increasing demand for modern annuity offerings. […]
Opinion: Why the DOL’s Retirement Security Rule is the emperor of all public policy mistakes
{June 6th, 2024} by David Macchia
Wink CEO, Sheryl Moore, was kind enough to share annuity sales data with me. In 2023, the largest segment of annuity sales was represented by multi-year guarantee annuities. MYGA sales totaled $153 billion. On those sales, insurance agents received an average commission of 1.9%. The second largest category was fixed index annuities. FIAs paid agents […]
Annexus & John Hancock Join Forces on Launch of New John Hancock Indexed Universal Life Insurance Solution
{June 6th, 2024} by Annexus Retirement Solutions
SCOTTSDALE, Ariz., June 5, 2024 /PRNewswire/ — Annexus, one of the nation’s leading independent retirement product design and distribution companies, announced a new collaboration with John Hancock, one of the largest life insurers in the United States. The partnership brings together each organization’s core strengths to launch a new John Hancock Indexed Universal Life (IUL) insurance solution, which launches today. […]
U.S. Chamber: DOL fiduciary rule ‘more egregious’ than past efforts
{June 6th, 2024} by John Hilton
The U.S. Chamber of Commerce is supporting plaintiffs asking a Texas judge for an injunction to halt a Department of Labor fiduciary rule from taking effect. Chamber attorneys filed a 28-page amicus brief Friday in the Eastern District of Texas. The Federation of Americans for Consumer Choice filed the lawsuit May 2 against the DOL rule, formally […]
The Future Of Life Insurance Sales: New Digital Illustration Software And AI Solutions
{June 6th, 2024} by Broker World
Sales Illustration systems are evolving with enhanced functionalities designed to help life BGAs and advisors better connect with their clients. Cutting-edge tools and advanced technology, including Artificial Intelligence (AI), are driving this transformation. As we consider the 72 million millennials aged 27 to 42, who are becoming major consumers of life insurance, it’s crucial to […]
Annuities: My Paranoia Of Product Extinction
{June 6th, 2024} by Charlie Gipple, CFP, CLU, ChFC
Buy annuities now! They are better than they have ever been, and they may not be here forever, at least in their current form. I don’t say that to be a “sales guy” trying to create urgency. I say that because there are memories that are tattooed into my brain that has been one of the […]
Double Trouble in the Bermuda Triangle
{June 6th, 2024} by Kerry Pechter
What can go wrong with the Bermuda Triangle strategy, with its closely affiliated annuity issuers, reinsurers and asset managers? PHL Variable Insurance, a former unit of Nassau Financial, is now in “rehabilitation.” A-CAP and 777 Partners discovered that it’s dangerous to mess with European football fans. Click HERE to read the full story via RIJ
Younger Americans are More Optimistic than Older Americans About the Potential of AI to Help Manage Money, According to Northwestern Mutual’s 2024 Planning & Progress Study
{June 6th, 2024} by Northwestern Mutual
Meanwhile, Gen X and Boomers+ are skeptical about “DIY GenAI” for financial planning Americans are most excited about AI’s advanced data analysis to potentially help financial advisors improve planning recommendations MILWAUKEE, June 4, 2024 /PRNewswire/ — As artificial intelligence (AI) continues to evolve and fuel debate about its transformative power on business and society, younger Americans are far […]
Simplicity Acquires Plum Life and Launches LifeLink™, a Digital Life Insurance Platform that Automates the Delivery of Much-Needed Protection
{June 6th, 2024} by Simplicity Group
SUMMIT, N.J., June 4, 2024 /PRNewswire/ — Simplicity Group Holdings, Inc. (“Simplicity”), a leading financial products distribution firm, today announced the launch of Simplicity LifeLink™ a life insurance sales platform that transforms and expedites the way insurance is purchased. Simplicity is launching LifeLink™ after its successful acquisition of Plum Life Inc. and is pleased to announce that Plum […]
Nassau Financial Group and Golub Capital Announce Strategic Partnership
{June 6th, 2024} by Nassau Financial Group
HARTFORD, Conn. & NEW YORK–(BUSINESS WIRE)–Nassau Financial Group (“Nassau”), a leading provider of fixed annuities and asset management, and Golub Capital, a market-leading direct lender and experienced credit asset manager, today announced they have signed a definitive agreement to enter into a strategic partnership. As part of this strategic partnership, Nassau will receive a $200 […]
Best’s Special Report: US Individual Annuity Writers Saw Highest Premium Growth in Decade in 2023
{June 6th, 2024} by AM B
OLDWICK, N.J.–(BUSINESS WIRE)–Individual annuity premium grew by 22% in 2023 and reached $348 billion, representing the highest growth seen in a decade for U.S. providers, according to a new AM Best report. The Best’s Special Report, “Annuity Premiums Soar, Surrender Protection Strengthens,” states that annuity products have been attractive for consumers in the last few years, propelled by […]
GLWB Now, Or Accumulate Then Choose A GLWB Or SPIA?
{June 6th, 2024} by Broker World
A question that I have from my agents occasionally is this, “Does my client do an income rider now, or do they buy an accumulation product now and then purchase an income product once they hit retirement?” Let’s use an example to clarify this question. You have “Bill,” a 55-year-old that wants to retire in 10 […]
Annuities’ Non-U.S. Reinsurers May Face New Tests
{June 6th, 2024} by Allison Bell
Reinsurers based outside the United States could face new financial tests when they assume responsibility for U.S. life insurance policies and annuity contracts. A panel at the National Association of Insurance Commissioners is considering proposals for testing the offshore reinsurers’ cash flow, to increase the odds that the reinsurers will have the financial strength to […]
Despite high expectations, direct-to-consumer life insurance market struggles
{June 6th, 2024} by John Manganaro
A decade ago, direct-to-consumer platforms were the next big thing in life insurance. With sound reasoning. Study after study continues to show that Americans like self-directed shopping experiences made easy. Start-ups with breezy names such as Ethos and Lemonade and Ladder found seed money with ease and promised to make life insurance “affordable, accessible, and […]
Annuities selling strong, but for how long?
{June 6th, 2024} by John Hilton
On the surface, everything is A-OK in the life of an annuity producer. Huge numbers of Americans are at or nearing retirement age, annuities are selling like umbrellas at the beach and retirement plan rules are evolving to boost those sales even higher. But dark clouds are not just lurking — they sit directly overhead […]
Majority of Middle-Class Americans Say They Struggle Financially
{June 5th, 2024} by Alexandre Tanzi
Almost two-thirds of Americans considered middle class said they are facing economic hardship and don’t anticipate a change for the rest of their lives, according to a poll commissioned by the National True Cost of Living Coalition. By many traditional measures, the US economy is strong, with robust labor, housing and stock markets, as well as solid […]
Annuity Issuer Unit Sues Majesco Over Agent Relations Software
{June 5th, 2024} by Allison Bell
An F&G Annuities & Life subsidiary is suing an insurance industry software developer over a system replacement project. Fidelity & Guaranty Life Business Services said in a complaint filed May 30 in the U.S. District Court for the District of New Jersey that it hired Majesco to help it move to a new distribution management system. Click […]
Update: Connecticut Commissioner Orders PHL Variable Insurance Into Rehabilitation
{June 5th, 2024} by AM Best
The Connecticut Insurance Department said the companies [of PHL Variable] are in a “hazardous financial condition.” In aggregate, their capital and surplus is approximately negative $900 million and assets are projected to be exhausted in 2030 with about $1.46 billion of policyholder liabilities projected to remain unpaid, the CID said in a court filing seeking […]
Greg Lindberg asks court to set aside bribery conviction, or grant new trial
{June 5th, 2024} by John Hilton
Embattled financier Greg Lindberg today filed a motion for acquittal, or a new trial, two weeks after a second jury convicted him of bribing the North Carolina insurance commissioner. The 55-page motion argues that the evidence is “insufficient” for a conviction on the two charges: bribery and conspiracy to commit honest services wire fraud, according to court […]
Q1 life premium down; Northwestern Mutual tops first LIMRA sales list
{June 5th, 2024} by John Hilton
Northwestern Mutual is the king of life insurance premium, according to the first sales rankings compiled by LIMRA. The mutual insurer recorded nearly $267 million in new annualized life premium during the first quarter. Trailing were Pacific Life, Prudential Financial and State Farm, all with $184 to $186 million in life premium. Althought Northwestern Mutual […]
Celebrating Annuity Awareness Month With a Look at RILA
{June 4th, 2024} by Myles J. Lambert
The arrival of June means that it’s time, once again, to celebrate Annuity Awareness Month. With retirement security being top of mind for many people these days, this month provides an important opportunity to drive even greater awareness of the key role that annuities can play in helping clients protect and grow their retirement savings. […]
Climbing mountains starts with one step
{June 4th, 2024} by Maggie Seidel
Finseca stands as a beacon of unity in the financial security profession, dedicated to championing the cause that inspired our name: Financial Security for All. Since our inception in 2020, Finseca has orchestrated the consolidation of four industry organizations. Among them are GAMA, which represents career agency leadership, and AALU, formerly known as the advocacy organization for advisors. […]
10 Best Life Insurance Companies of June 2024
{June 4th, 2024} by Amy Danise, Tony Steuer
We thoroughly analyzed the term life and cash value policies of 16 companies and found that Pacific Life and Protective are among the best life insurance companies, earning five stars in our analysis. We used a database of more than 9,000 policies and scored key metrics including cost, historical performance, financial strength and cash value. Click […]
Variable annuity owner wonders whether annuity benefits will be there
{June 4th, 2024} by John Hilton
Peter Gould and his wife are counting on the guaranteed lifetime withdrawal benefits from their variable annuity to provide “predictable and secure retirement income.” Like many consumers who own these products, the Bloomington, Ind., couple had little idea that some insurance companies are taking increased investment risks with policyholder funds. Some insurers are already in […]
Asset Marketing Systems Partners with eSignature Group LLC to Offer Medallion Signature Guarantees to Investors
{June 2nd, 2024} by eSignature Group LLC
NEW YORK, May 30, 2024 (GLOBE NEWSWIRE) — via IBN – Asset Marketing Systems Insurance Services, LLC (Asset), a premier distributor of insurance products specializing in Fixed Index Annuities, Fixed Annuities, Life, and Asset-Based Insurance, is thrilled to announce a strategic partnership with eSignature Group LLC. This collaboration presents a significant advancement from a compliance, […]
Reprint: Structured Annuities Seize the Spotlight #AnnuityAwarenessMonth
{June 1st, 2024} by Sheryl J. Moore
About fourteen years ago, the first structured annuity hit the streets. It was the first time in 15 years that deferred annuities had to welcome a new product class. And if you are still unfamiliar with these products, it’s time to get an education. These annuities are now the fastest-growing segment of the life insurance […]
Reprint: Annuity Quick Reference Guide #AnnuityAwarenessMonth
{June 1st, 2024} by Sheryl J. Moore
Many have never heard of annuities. Perhaps the easiest way to grasp the concept of annuities is to first discuss life insurance products. Life insurance is a contract that pays a benefit in the event you die unexpectedly. In turn, annuities are a contract that pay a benefit in the event you live too long. […]
I GIVE A DAMN ABOUT ANNUITIES – YOU SHOULD TOO! Reprint #AnnuityAwarenessMonth
{June 1st, 2024} by Sheryl J. Moore
I GIVE A DAMN ABOUT ANNUITIES – YOU SHOULD TOO May 19, 2015 by Sheryl J. Moore WHY PEOPLE NEED ANNUITIES I recall well my entrance into the life insurance market. Nearly 20 years ago, I was a single mother with three babies in diapers; wondering what career I could hold in Des Moines, Iowa […]
It was the scariest thing that I had ever done.
{May 30th, 2024} by Sheryl J. Moore
Nineteen years ago, I incorporated Wink, Inc. Starting this business was, at the time, the scariest thing I had ever done. What if I failed? According to the U.S. Bureau of Labor Statistics: – First year: 18–20% of businesses fail – Five years: 45–50% of businesses fail – Ten years: 65% of businesses fail – Fifteen years or […]
Special Edition! A note from Wink.
{May 30th, 2024} by Wink's Intel Pros
We were delaying the newsletter this week to coincide with the publishing of Wink’s Sales & Market Report’s annuity report, however, the report has been delayed a bit further than expected. It will be published early next week. What this week did bring was a special anniversary; 19 years ago on May 27th, Sheryl Moore […]
Delaware Life Announces Enhancements to Fixed Index Annuities, Bringing Innovation and Diversification Including the Invesco QQQ ETF
{May 30th, 2024} by Delaware Life Insurance Company
ZIONSVILLE, Ind.–(BUSINESS WIRE)–To give consumers a simple, tailored way to diversify returns and guarantee higher minimum growth, Delaware Life Insurance Company (Delaware Life), a Group 1001 company, announces the addition of two diversified, multi-strategy Precision Portfolios as part of the Growth Pathway fixed index annuity (FIA). As an additional enhancement, Growth Pathway is now the […]
Not your Grandma’s Annuities
{May 30th, 2024} by Sheryl J. Moore
I did a podcast for C2P Enterprises with Kirsten Schlumbohm, BPC for her “A Woman’s Clarity” program. This videos kicks off Annuity Awareness Month, shares how women humanize the life insurance industry, and reveals how annuities have transformed from your grandma’s restrictive contract, into a flexible, consumer-friendly vehicle for retirement income planning. Be sure […]
Insurance Associations File Legal Action Challenging U.S. Department of Labor’s Fiduciary-Only Regulation
{May 30th, 2024} by ACLI, NAIFA, Finseca, IIR ,NAFA
WASHINGTON – Nine insurance trade associations filed a lawsuit today against the U.S. Department of Labor (DOL) to overturn a regulation limiting consumers’ choice of financial professional and their access to retirement products that deliver protected lifetime income. The American Council of Life Insurers (ACLI), National Association of Insurance and Financial Advisors (NAIFA), NAIFA-Texas, NAIFA-Dallas, […]
Focus on outcomes, not mythical legal jargon, says Finseca CEO
{May 30th, 2024} by James Burton
Marc Cadin responds to a recent InvestmentNews editorial and explains why he believes the DOL process and pro-fiduciary rule argument are both flawed. If the final version of the Retirement Security Rule stoked the fire within Marc Cadin, the CEO of Finseca, the subsequent InvestmentNews editorial fanned the flames. Click HERE to read the full story via InvestmentNews […]
5 Reasons RILAs Are So Hot
{May 30th, 2024} by Allison Bell
Robin Raju, the chief financial officer at Equitable, wants to talk about the company’s efforts to add lifetime income options to the nation’s 401(k) plans. He wants to talk about the value the company gets from its AllianceBernstein asset management arm. Click HERE to read the full story via Think Advisor
Wade Pfau Makes Case for RILAs as Income Protectors
{May 30th, 2024} by Allison Bell
A medium-soft annuity cushion might create the best stream of retirement income. Wade Pfau, an economist who once served as director of the Retirement Income Certified Professional designation program, makes that case in a new analysis prepared with support from Equitable. Pfau looked at the performance of hypothetical portfolios for a hypothetical 65-year-old who was […]
Nationwide launches updated RILA
{May 30th, 2024} by Nationwide
Columbus, OH – May 23, 2024 – Amid concerns about the U.S. economy and inflation, investors have turned to annuities for protection against market downturns, with many leaning in to registered indexed-linked annuities for both growth and limited risk exposure. To better meet the needs of these investors, Nationwide has announced the launch of Nationwide Defined […]
In-plan annuities gaining steam: Where do we go from here?
{May 30th, 2024} by Susan Rupe
Annuities are becoming more available in the contribution space in association with 401(k) plans. What is the future of in-plan annuities, and have they reached a tipping point? Bryan Hodgens, head of distribution research and annuity research with LIMRA, provided some insights on where in-plan annuities are going during a recent LIMRA online event. With […]
9 trade groups file a second lawsuit to stop the DOL fiduciary rule
{May 30th, 2024} by John Hilton
Nine insurance trade associations filed a second lawsuit Friday against the Department of Labor to overturn its controversial Retirement Security Rule. The rule would rope most annuity transactions into a fiduciary duty, increasing liability exposure. The RSR takes partial effect Sept. 23 and requires “major changes” by producers, one analyst says. Click HERE to read the full […]
John Hancock and MIT AgeLab team up to study, improve longevity
{May 30th, 2024} by Doug Bailey
In a continuing effort to understand how the world’s increasingly aging population can live better and healthier lives – and how it can possibly profit from the knowledge – John Hancock has entered into a five-year, multimillion dollar collaboration with the Massachusetts Institute of Technology’s AgeLab, which researches longevity issues. Click HERE to read the full […]
AmeriLife adds a pair of new acquisitions as strong growth continues
{May 30th, 2024} by John Hilton
AmeriLife Group announced two recent deals that continue the company’s steady growth as a holistic retirement services juggernaut. Based in Clearwater, Fla., AmeriLife is among the independent marketing organization giants, with health, wealth and worksite benefit offerings, and everything in between. AmeriLife continues acquiring “partners,” adding 73 companies across its health and wealth distribution roster […]
Judge with a history of striking down federal rules will hear DOL lawsuit
{May 30th, 2024} by John Hilton
A lawsuit filed by nine industry trade associations against the latest Department of Labor fiduciary rule will be heard by a Texas judge with a reputation for vacating federal rules. Several powerful trade groups – including the American Council of Life Insurers and the National Association of Insurance and Financial Advisors – filed the lawsuit […]
Hexure Expands Its Quoting to Include Annuities
{May 30th, 2024} by Hexure
COLORADO SPRINGS, Colo.–(BUSINESS WIRE)–Hexure, a provider of sales and regulatory automation solutions for the life and annuity industry, announced the addition of annuity products to its quoting solution. Annuity quoting with side-by-side comparisons within Hexure’s platform makes finding the right product easier and faster, improving advisor productivity and client satisfaction. “We are excited to expand our quoting […]
How can this product not exist? Does it, and I’m missing it?
{May 30th, 2024} by Sheryl J. Moore
I am always trying to learn more about the Registered Investment Advisor (RIA) distribution. It has become a keen interest of mine, since it became a distribution channel for annuities. I have found that one of the best ways of learning about this new distribution is having conversations with investment advisors. Today, I had an […]
Annuity Advisor Settles With SEC Over Product Recommendations
{May 30th, 2024} by Allison Bell
The U.S. Securities and Exchange Commission told an investment advisor that he should have considered fee-based variable annuities along with commission-based variable annuities when making product recommendations. The SEC said Monday that it has accepted a $1.1 million settlement offer from the advisor, Raymond Lawrence Lent, in connection with concerns about Lent’s compensation disclosures for variable […]
Ranked: The World’s 50 Largest Private Equity Firms
{May 30th, 2024} by Niccolo Conte
In 2023, private equity firms controlled $8.2 trillion in assets globally according to McKinsey & Company, a figure that has rapidly expanded since the industry first emerged 40 years ago. As large investors such as pension funds and insurance companies increasingly look to private markets, these alternative asset managers have seen their assets grow by more than twofold […]
How to address your client’s annuity concerns
{May 30th, 2024} by Ayo Mseka
Although annuities are currently experiencing record sales and can play a major role in helping consumers secure their financial future, financial professionals may still face objections when trying to sell them to clients and prospects. Some say they are difficult to understand, carry high fees, and are subject to market volatility. We spoke to several MDRT members […]
When Insurers Fail
{May 30th, 2024} by Mary Walsh
The troubles are deepening fast for the unhappy insurance family of 777 Re, Sentinel Security Life, Atlantic Coast Life, A-Cap, and all their corporate kith and kin. The outlook for their unwitting policyholders is dim. The companies and their principals have been named in some 20 lawsuits, in multiple jurisdictions, by creditors chasing hundreds of […]
Connecticut Puts Phoenix Life and Annuity Issuer in Rehab
{May 30th, 2024} by Allison Bell
Connecticut Insurance Commissioner Andrew Mais has received approval from a state court in Hartford to put PHL Variable Insurance Co. — the insurer that once wrote the Phoenix Companies’ variable insurance policies and variable annuity contracts — in rehabilitation. The rehabilitation order, which also includes two reinsurers controlled by PHL, limits benefits payments and cash withdrawals, and […]
We are NOT that firm.
{May 30th, 2024} by Sheryl Moore
Wink, Inc. is a third-party market research firm. I own 100% of the company. My nearest competitor is owned by the insurance companies that report sales to them. I remember a time when that company was reporting structured annuity/RILA sales with their indexed annuity breakouts. Sometimes insurance companies want me to report their sales differently […]
Three Reasons Fixed Index Annuities Are Better Than Bonds In Your Retirement Portfolio
{May 30th, 2024} by Aaron Cirksena
When financial advisors seek ways to manage risk in retirement investing, they typically look to bonds, which are traditionally seen as the optimal asset for offsetting the volatility in stock markets. By orchestrating a healthy mix of stocks and bonds in retirement accounts, advisors create a higher level of stability. Click HERE to read the […]
Why Are You Still Selling Life Insurance With Lifetime Guarantees?
{May 30th, 2024} by J. J. Bowman
Permanent life insurance comes in many forms. Too often, however, clients are presented as if only two types exist: “guaranteed” and “non-guaranteed.” Whether intentional or not, framing the choice this way creates a false dichotomy and too often leads clients toward solutions that don’t best meet their needs. In my experience, the most successful producers […]
Many Americans hope to live to 100, but are their retirement plans up to the challenge?
{May 30th, 2024} by Ayo Mseka
More than half (54%) of Americans say it’s their goal to live to 100, according to a new study from Corebridge Financial and The Longevity Project. Family, friends, and new experiences are seen as the top benefits of living a very long life, with 72% of respondents citing continued meaningful with family and friends and 65% looking […]
Annuity Issuers Armor Up Against Private Equity Players
{May 30th, 2024} by Allison Bell
Private equity firms’ pressure on the U.S. individual annuity market will keep the supply of registered index-linked annuities growing, according to Swiss Re Institute analysts. The traditional annuity issuers have been armoring up with captive insurers and sidecars to push back against the private equity-backed newcomers. Click HERE to read the full story via Think […]
Life insurance set to boom as interest rates surge, says Swiss Re Institute
{May 30th, 2024} by Swiss Re
Zurich, 27 May 2024 – Higher interest rates around the world are transforming the outlook for life insurance growth and profitability. Savings products are attractive to consumers after a decade of weak demand and low returns. Swiss Re Institute expects a new high for US fixed annuity sales this year after record sales in both […]
Stock Gains Pushed Index-Linked Annuity and Life Sales Higher in Q1
{May 30th, 2024} by Allison Bell
Strong stock market gains and stable interest rates helped increase sales of index-linked annuities and index-linked life insurance policies in the first quarter, according to new issuer survey data from LIMRA. U.S. sales of individual registered index-linked annuities, or RILA contracts, which are regulated as variable annuities, increased 39% between the first quarter of 2023 and […]
3 Big Gaps in the DOL’s Case for Its New Fiduciary Regs
{May 30th, 2024} by Allison Bell
Officials at the U.S. Labor Department don’t seem to want to use their new retirement investment advice fiduciary definition to destroy the lives of commissioned agents who sell annuities and life insurance. They say, over and over again, in the introduction to the Retirement Security Rule and in a separate, related set of guidelines for insurance agents, […]
Swiss Re reveals impact of higher rates
{May 30th, 2024} by Kenneth Araullo
With higher interest rates reshaping the landscape for life insurance growth and profitability, savings products are becoming more attractive to consumers after a decade of low demand and returns. In a new study, Swiss Re Institute projects a new high for US fixed annuity sales this year, following record sales in 2022 and 2023. Click HERE to read […]
Annuity FA Settles with SEC for $1.1M over Product Recommendations
{May 30th, 2024} by Alex Padalka
The Securities and Exchange Commission has reached a more than $1 million settlement with an experienced financial advisor over his choice of annuities and money market funds for his clients. The commission claims that from at least April 2016 through Oct. 1, 2021, Raymond Lent — a registered broker since 1976 who was doing business as The Putney Financial […]
Liver, yes. Corneas, no. FDA urged to relax tissue donation ban for gay and bisexual men
{May 30th, 2024} by Rae Ellen Bichell
And they are frustrated. The FDA has put changes to the tissue guidance on its agenda since 2022 but has yet to act on them. One of the loudest voices is Sheryl J. Moore, who took up the cause when her 16-year-old son died in 2013. She and a Colorado doctor named Michael Puente Jr. started a campaign […]
CANNEX Annuity Marketplace Launched to Broaden Industry Access to Annuity Evaluation and Selection Tools
{May 30th, 2024} by CANNEX
CHARLOTTE, N.C., May 22, 2024 /PRNewswire/ — CANNEX has partnered with Luma Financial Technologies to launch the CANNEX Annuity Marketplace, making it easier for financial professionals at small and mid-sized firms to select annuities and make decisions on asset allocations, terms, and riders. he new marketplace provides the ability to analyze the performance of hundreds of fixed, […]
PHL Variable Insurance Company Rehabilitation
{May 30th, 2024} by CT Insurance Department
PHL Variable Insurance Company and its subsidiaries, Concord Re, Inc. and Palisado Re, Inc. (collectively, “PHL”) entered rehabilitation proceedings in the Connecticut Superior Court on May 20, 2024. The proceedings were initiated by the Connecticut Insurance Department in response to PHL’s hazardous financial condition. Click HERE to read the full story via: CT.Gov Wink’s […]
The books are here!
{May 30th, 2024} by Sheryl J. Moore
It’s an easy read and I think you will enjoy it! I appreciate your support. To purchase the book, please call our office at 855-ASK-WINK xt 203 to speak with Cathy. or Amazon https://www.amazon.com/dp/B0D4MMMPTJ/?ref_=cm_wl_huc_item -sjm
DOL pulling a ‘deceptive’ maneuver with new fiduciary rule, analyst says
{May 21st, 2024} by John Hilton
The Department of Labor wrote its new Retirement Security Rule with a big focus on convincing a court that it has the authority to extend fiduciary duty to individual retirement plans. But one prominent analyst said they have done so in a “deceptive” manner. Brad Campbell, partner at Faegre Drinker, is no fan of the […]
DOL fiduciary rule in crosshairs of House, Senate resolutions
{May 21st, 2024} by Courtney Degen
A group of mostly GOP lawmakers in the House and Senate May 15 introduced resolutions to overturn the Labor Department’s new rule amending the definition of a fiduciary. The rule, finalized April 23, changed the test used to determine when someone is an investment advice fiduciary under ERISA. The changes make it so one-time advice, such as […]
Insurance Associations Applaud Congressional Action On Fiduciary Regulation
{May 21st, 2024} by ACLI
WASHINGTON – The American Council of Life Insurers (ACLI), National Association of Insurance and Financial Advisors (NAIFA), Finseca, Insured Retirement Institute (IRI) and National Association for Fixed Annuities (NAFA) issued the following statement on the Congressional Review Act (CRA) resolution to prevent the Labor Department’s fiduciary regulation from taking effect: “The actions today by Rep. […]
7 Top Q1 Annuity Earnings Surprises
{May 21st, 2024} by Allison Bell
Big annuity issuers continued to be remarkably happy with their annuity businesses in the first quarter. Some may have had a harder time competing for sales or holding on to assets than others, but executives generally expressed joy about the current high level of consumer excitement about annuities. Click HERE to view the slideshow
Transamerica Announces New Collaboration With First Trust
{May 21st, 2024} by Transamerica
BALTIMORE, May 20, 2024 /PRNewswire/ — Today Transamerica announced a new collaboration with FT Indexing Solutions LLC (“First Trust”) that adds the First Trust Equity Edge Index™ to the popular and innovative Transamerica Structured Index Advantage® Annuity. The new equity index option, Equity First Trust Edge (Nasdaq: FTEQUEDGE), is exclusively available through Transamerica’s registered index-linked annuity. The index provides additional exposure […]
Best’s Special Report: US Life/Annuity Investment Portfolio Yields Rebound in 2023
{May 21st, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–Rising interest rates in 2023 helped boost the portfolio yields of U.S. life/annuity insurers by nearly 30 basis points, to 4.74% from 4.47% in the previous year, according to a new AM Best report. he Best’s Special Report, “US Life/Annuity Investment Portfolio Yields Rebound in 2023,” states that the improvement in total portfolio yield occurred as […]
AM Best Comments on Credit Ratings of Members of Corebridge Financial Following Announced Agreement
{May 21st, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has commented that the Credit Ratings (ratings) of the members of Corebridge Financial (Corebridge) remain unchanged following the recently announced definitive agreement whereby American International Group, Inc. (AIG) will sell a 20% share in Corebridge to Nippon Life Insurance Company for approximately USD $3.8 billion in a straight cash transaction. AIG has […]
Lincoln Financial Group Strengthens Its Award-Winning Registered Index Linked Annuity, Launches Lincoln Level Advantage 2SM
{May 21st, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced a new version of its award-winning Lincoln Level Advantage® indexed variable annuity with the launch of Lincoln Level Advantage 2SM index-linked annuity. Building on the innovations of the first generation, Lincoln Level Advantage 2 offers investors even more opportunities for protection and growth with the industry’s first indexed accounts that track the performance […]
Lincoln Financial Group Appoints Brian Kroll as EVP, Head of Retail Life and Annuity Solutions
{May 21st, 2024} by Lincoln Financial Group
RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced that Brian Kroll will be appointed Executive Vice President, Head of Retail Life and Annuity Solutions, effective May 16, 2024. Kroll will report to Chairman, President and CEO Ellen Cooper and will be a member of the company’s Senior Management Committee. He will be responsible for […]
AM Best Affirms Credit Ratings of Ameritas Life Insurance Corp. and Its Subsidiary
{May 21st, 2024} by AM Best
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a+” (Excellent) of Ameritas Life Insurance Corp. (Lincoln, NE) and Ameritas Life Insurance Corp. of New York (New York, NY). These insurance entities comprise the life/health operations of Ameritas Mutual Holding Company (all companies are collectively […]
Jackson Study Reveals Consumers Anxious About Inflation; Financial Professionals Recommend Diversifying
{May 21st, 2024} 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 released key findings from its study on how consumers and financial professionals perceive inflation risk and the associated impacts on retirement income planning. The study is the second installment of Jackson’s Security in Retirement Series conducted in partnership with the Center for Retirement […]
Pacific Life Named by Points of Light as One of America’s 50 Most Community-Minded Companies for Third Consecutive Year
{May 21st, 2024} by Pacific Life
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Pacific Life has been named a national 2024 Civic 50 honoree by Points of Light, acknowledging it as one of the 50 most community-minded companies in the United States. The Civic 50 sets the standard for corporate citizenship and showcases how leading companies are moving social impact and community to the core […]
Midland National Offers No. 1 Fixed Index Annuity for RIAs in 2023
{May 21st, 2024} by Midland National Life Insurance Company
WEST DES MOINES, Iowa–(BUSINESS WIRE)–Capital Income®, Midland National’s first commission-free fixed index annuity (FIA), was named top fee-based fixed index annuity in 2023, according to LIMRA1. In 2021, Midland National Life Insurance Company, a Sammons Financial Group member company, introduced a dedicated team, Midland Advisory, which is focused on designing annuity solutions tailored for registered investment advisors (RIAs) to offer their […]
Louisiana adopts annuity best-interest standard
{May 21st, 2024} by Leo Alamazora
Associations for life insurers and financial advisors laud the move, renews call for “sensible protections” around guaranteed lifetime income products. The cross-country movement of states embracing the best interest annuity rule for consumers has just gained more ground in the South. Click HERE to read the full story via InvestmentNews
Lawmakers Move to Torpedo New DOL Fiduciary Rule
{May 21st, 2024} by Melanie Waddell
Four senators — three Republicans and one Democrat — introduced Wednesday a resolution of disapproval under the Congressional Review Act to overturn the Labor Department’s new fiduciary rule. The senators — Ted Budd, R-N.C.; Bill Cassidy, R-La.; Joe Manchin, D-W.V., and Roger Marshall, R-Kansas — said in a joint statement Wednesday that the new rule, which Labor released on April 23, “would endanger […]
Why Aren’t More RIAs Offering Annuities? Flourish President Blames Weak Tech
{May 21st, 2024} by Allison Bell
Ben Cruikshank maintains that the gap between the annuity tech tools RIAs have in theory and the tools they really have is wide. Cruikshank is the president of Flourish, a financial technology firm that’s owned by MassMutual and launched an annuity distribution arm in January. Click HERE to read the full story via ThinkAdvisor Wink’s Moore on […]
Nasdaq composite today: The index closed up 10.20% YTD
{May 21st, 2024} by Wayne Duggan and Farran Powell
The Nasdaq composite closed today [May 14] at 16,508.53. Compared to yesterday’s close, the benchmark index rose by 120.29 points, or 0.73%. Year to date, the benchmark index is up by 10.20%. Click HERE to read the story via USA Today Wink’s Moore on the Market: Only 0.2% of indexed annuity sales are based upon […]
John Currier named president of F&G Annuities and Life
{May 21st, 2024} by F&G Annuities & Life, Inc.
DES MOINES, May 13, 2024 – F&G Annuities & Life announced the appointment of John Currier to the position of President, continuing to report to Chris Blunt, Chief Executive Officer. In addition to his role as President of F&G, Mr. Currier will continue to have responsibility for the Retail Markets business unit. Chris Blunt, Chief […]
John Hancock inks longevity research partnership with MIT
{May 21st, 2024} by Leo Alamazora
John Hancock is taking a frontline position in addressing the retirement readiness crisis by entering into a groundbreaking research partnership. Click HERE to read the full story via InvestmentNews Wink’s Moore on the Market: “The fastest-growing age cohort in the world is people over 85. As we continue to see people live longer lives, […]
Nippon Life to Acquire 20% Stake in Corebridge
{May 21st, 2024} by Allison Bell
Nippon Life has agreed to pay $3.8 billion for a 20% stake in AIG’s Corebridge Financial life insurance and annuity affiliate. The companies hope to complete the deal by March 31, AIG said Thursday. Click HERE to read the full story via Think Advisor
Lincoln Financial Gets New Individual Life & Annuities Head
{May 21st, 2024} by Allison Bell
Lincoln Financial has picked Brian Kroll, a former company executive, to take over as head of retail life and annuity solutions. Kroll succeeds Matt Grove, who will serve as a company advisor until Dec. 31, according to a new filing. Click HERE to read the full story via Think Advisor
