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  • Sproutt Partners with SBLI and Afficiency to Expedite Approval Process for Personalized Life Insurance Policies

    {December 22nd, 2020} by Sproutt

    NEW YORK, Dec. 15, 2020 /PRNewswire/ — Sproutt, the insurance company that uses data and AI to reward people living healthy lives, today announced the availability of a new product that enables its customers to qualify for and buy a life insurance policy entirely online in a matter of minutes. The product is offered in partnership with Woburn, Massachusetts-based insurance […]

    Fixed Annuity may be good option in uncertain market

    {December 22nd, 2020} by Contributor

    Josh Bradley of Capital City Financial Partners says fixed annuities are a bit easier to understand than other types of annuities. He says they’re very similar to a traditional bond or CD. “Your principal is protected and you’re going to earn a set interest rate for a set term and, when the end of that […]

    At 10 Smaller Annuity Issuers, Third-Quarter Sales More Than Doubled

    {December 21st, 2020} by Cyril Tuohy

    In April, Wink said the insurer offered the best rates on five different multi-year guaranteed annuities that had terms from three to 15 years. “MYGA specials” were also a factor in the third quarter, according to Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, which tracks the annuity marketplace. She said buyers found it hard […]

    RECORDED WEBINARS AND PODCASTS: The Year In Annuities: 2020 Hindsight With Sheryl Moore .

    {December 16th, 2020} by InsureTech Express

    With 2020 winding down, we are taking some time with Sheryl Moore, the president and CEO of Moore Market Intelligence and Wink Inc., to review some of the year’s highlights.  Click HERE for the recording via InsureTech Express Sheryl has been the ultimate insider in the annuity business for decades. We at InsuranceNewsNet rely heavily on her data […]

    Annuity Trends

    {December 16th, 2020} by NAILBA

    Visit NAILBA.org/ID Trends 2020 to better understand what is going on in the market with supporting data, and experts sharing ideas for business growth.       

    Transamerica to halt sales of VAs with guarantees, fixed annuities

    {December 16th, 2020} by Emile Hallez

    Transamerica is stopping sales of fixed annuities and variable annuities with benefit riders, as the company seeks to exit from those markets entirely, Aegon executives said during a presentation Thursday. Click HERE to read the full story via InvestmentNews

    AG 49A Goes Into Effect Dec. 14 On IUL Illustrations

    {December 16th, 2020} by John Hilton

    State insurance regulators resolved a final timing issue Thursday with rule changes designed to tighten up indexed universal life illustrations. But the vote renewed old divisions over the changes. The National Association of Insurance Commissioners’ Executive Committee and Plenary adopted Actuarial Guideline 49 updates in August after a long process. Click HERE to read the […]

    Allianz Life Enhances Life Pro+ Advantage Fixed Index Universal Life Insurance Policy

    {December 16th, 2020} by Allianz Life Insurance Company of North America

    MINNEAPOLIS – Dec. 14, 2020 – Allianz Life Insurance Company of North America (Allianz Life) has announced new enhancements to its Allianz Life Pro+ Advantage℠ Fixed Index Universal Life Insurance Policy. In addition to providing death benefit protection, the new product features also provide more options for clients and new sales tools for the financial professionals who sell the […]

    Trent Davis Announces Retirement

    {December 16th, 2020} by Simplicity Group Holdings

    SUMMIT, N.J., Dec. 11, 2020 /PRNewswire/ — Simplicity Group Holdings (“Simplicity”) today confirmed that Trent Davis, Principal of Simplicity Des Moines, has chosen to retire effective Dec. 31, after over 30 years working in the insurance industry. His business partner and brother, Jon Davis, will assume sole responsibility for the Des Moines office and will continue to oversee the day-to-day operations and expansion […]

    Finally Out: New DOL Fiduciary Rule

    {December 16th, 2020} by Mrinalini Krishna

    The Department of Labor today unveiled the final version of its new fiduciary rule, creating a new prohibited transaction exemption that it says aligns with the SEC’s Regulation Best Interest.The rule pertains to advisors working with workplace retirement plans, rollovers, or clients’ individual retirement accounts. “Today’s action provides clear regulatory standards that ensure American workers […]

    Lincoln Financial Group Expands Diversity and Inclusion Organization, Names Brandy Smith Vice President, Workplace Diversity & Counsel

    {December 16th, 2020} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) announced today that Brandy Smith has been named vice president, Workplace Diversity and Counsel – part of the organizations ongoing expansion of its Diversity and Inclusion function. Smith will report to Allison Green Johnson, senior vice president, Chief Diversity Officer. In her new role, Smith will provide strategic […]

    Santa as Essential Worker: Should Earn $157K According to Insure.com

    {December 16th, 2020} by Insure.com

    FOSTER CITY, Calif., Dec. 9, 2020 /PRNewswire/ — With Christmas in the air, Insure.com calculates Santa’s potential annual earnings and finds that for the fifth year in a row, the beloved essential worker earns a well-deserved raise. Research shows Santa could earn more than $157,000 this year, running one of the world’s largest toy shops. Using salary information from the Bureau of […]

    Guardian Life Announces $1.05 Billion Dividend Payment to Policyholders

    {December 16th, 2020} by Guardian

    NEW YORK, Dec. 10, 2020 /PRNewswire/ — The Guardian Life Insurance Company of America (Guardian®), a leading national provider of life and disability insurance, employee benefits, and dental insurance, today announced its Board of Directors approved a $1.05 billion dividend allocation to its individual life policyholders in 2021. The Dividend Interest Rate, which is the investment component of the dividend, will […]

    Nationwide launches Partnership Platform

    {December 16th, 2020} by Nationwide

    COLUMBUS, Ohio, Dec. 14, 2020 /PRNewswire/ — The world has become increasingly digital, and Nationwide has as well – modernizing its core systems and building digital experiences so it can connect seamlessly with partners and their customers. Nationwide® continued to cement its position as an insurance technology leader with the launch of its new Partnership Platform on Nationwide.com.  The first-of-its-kind […]

    USAA Life Insurance Company Introduces Three Year Fixed Guaranteed Growth Annuity

    {December 16th, 2020} by USAA

    SAN ANTONIO, Dec. 14, 2020 /PRNewswire/ — USAA Life Insurance Company announced today the introduction of a three-year Fixed Guaranteed Growth Annuity (FGG3) product available to USAA members directly through USAA.com or a USAA Retirement Income Specialist. Fixed guaranteed growth annuities are a type of deferred annuity that provide a guaranteed interest rate for a fixed period […]

    Protective Life Announces Office Relocation Within Greater Cincinnati/Northern Kentucky Region

    {December 16th, 2020} by Protective Life Corporation

    BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (Protective Life), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), announced today it is relocating its core site in Cincinnati to RiverCenter Towers in Covington, Kentucky, maintaining a strong presence in the Greater Cincinnati/Northern Kentucky Region. Aligned with Protective Life’s strategic growth plans, this relocation will foster expansion […]

    Principal Reports Consumers Spending Less, Shopping Differently in an Uncertain Year

    {December 16th, 2020} by Principal Financial Group

    DES MOINES, Iowa–(BUSINESS WIRE)–Research from Principal Financial Group® released today indicates higher stress levels and less holiday spending among U.S. consumers as many continue to navigate the economic impacts of COVID-19. For those who are planning to spend, a majority will do so online and are decreasing expenses on travel, dining out, and entertainment. “2020 was […]

    MassMutual to Acquire Fintech Platform Flourish

    {December 16th, 2020} by MassMutual

    SPRINGFIELD, Mass.–(BUSINESS WIRE)–Massachusetts Mutual Life Insurance Company (MassMutual) and Stone Ridge Asset Management (Stone Ridge), an asset manager with more than $10 billion in assets under management (AUM) that focuses on registered investment advisers (RIAs), institutions, and insurance companies, today announced that MassMutual and Stone Ridge Holdings Group have entered into a definitive agreement for MassMutual […]

    AIG Life & Retirement Announces Leadership Changes

    {December 16th, 2020} by AIG

    NEW YORK–(BUSINESS WIRE)–AIG Life & Retirement, a division of American International Group Inc. (NYSE: AIG), today announced that Todd Solash, Chief Executive Officer of its Individual Retirement business, will take on an expanded role with the additional leadership of the company’s Life Insurance business, effective immediately. In his new role as Chief Executive Officer, Individual […]

    Avantax Wealth Management Hosts More Than 1,500 Financial Professionals at Firm’s Virtual Forum

    {December 16th, 2020} by Avantax Wealth Management

    DALLAS–(BUSINESS WIRE)–Avantax Wealth Management℠ hosted more than 1,500 of its Financial Professionals this week during the three-day Avantax Virtual Forum where Avantax leadership discussed the firm’s focus on, and investments in, people, platforms and products. From adding new investment solutions that help Avantax affiliates serve a diverse client base, to flexible affiliation models that support […]

    AM Best Affirms Credit Ratings of Western & Southern Financial Group, Inc. and Its Subsidiaries

    {December 16th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of the life insurance subsidiaries of Western & Southern Financial Group, Inc. (WSFG). WSFG’s subsidiaries are The Western and Southern Life Insurance Company (WSLIC), Western-Southern Life Assurance Company, Columbus Life Insurance Company, Integrity Life Insurance Company, National Integrity Life Insurance […]

    AM Best Affirms Credit Ratings of Nassau Financial Group, L.P.’s Insurance Subsidiaries

    {December 16th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issue Credit Ratings (Long-Term ICR) of “bbb-” of Nassau Life Insurance Company (NNY), Nassau Life and Annuity Company (NLA), Nassau Life Insurance Company of Kansas (Overland Park, KS) and Nassau Life Insurance Company of Texas (Austin, TX). All of […]

    Majority of Americans Expect Market Volatility to Remain High in 2021

    {December 16th, 2020} by Allianz Life

    MINNEAPOLIS–(BUSINESS WIRE)–As Americans continue to endure the health and economic impacts of the COVID-19 pandemic, the majority are concerned about continued market volatility in the year ahead. New findings from the Q4 Quarterly Market Perceptions Study from Allianz Life Insurance Company of North America (Allianz Life) show Americans are worried that markets will retreat from […]

    AM Best Upgrades Credit Ratings of Royal Neighbors of America

    {December 16th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” from “a-” of Royal Neighbors of America (RNA) (Rock Island, IL). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. The ratings reflect RNA’s balance […]

    DOL may be too late with final fiduciary rule

    {December 16th, 2020} by Mark Schoeff Jr.

    The Department of Labor released a final regulation Tuesday to reform investment advice rules for retirement accounts, but the measure may be short-lived because it’s coming out within weeks of the Biden administration taking power. Click HERE to read the full story via InvestmentNews

    Wink is at NAILBA 39: Engage!

    {December 16th, 2020} by Wink's RockStars

      Visit us at NAILBA 39:Engage!   Who The Heck Are We? Only The Greatest Competitive Intel Company on Earth!     We’ve Got the Intel Tools You Need! Annuities, Life Insurance, Side-By-Side Comparisons, 200+ Companies Represented, Thousands of Life and Annuity Product Specs, Current, Upcoming and Historical New Business Rates.   We’ve Got Shirts! […]

    AM Best Maintains Negative Outlook for Life Sector

    {December 16th, 2020} by Emily Holbrook

    AM Best is maintaining a negative market segment outlook on the U.S. life and annuity insurance markets for 2021, based mainly on the economic and financial market uncertainty created by the COVID-19 pandemic. Although the pandemic has increased mortality, the increase in the number of death claims has had only a limited impact on overall capitalization, […]

    News 169-Year-Old MassMutual Invests $100 Million in Bitcoin

    {December 16th, 2020} by Olga Kharif

    Massachusetts Mutual Life Insurance Co. has purchased $100 million in Bitcoin for its general investment fund, the latest mainstream firm to dabble in digit assets. The mutual insurer also acquired a $5 million minority equity stake in NYDIG, a subsidiary of Stone Ridge that provides cryptocurrency services to institutions, according to a statement. Click HERE […]

    Indie BDs Are the Next Growth Channel for Annuities: Cerulli

    {December 16th, 2020} by Ginger Szala

    The outlook for growth in annuities sales is fair to middling, with independent broker-dealers being the best potential outlet. And though total annuity sales are forecast to drop about 13% in 2020, according to a Cerulli Associates study, the worst hit will be for fixed indexed annuities, falling about 28% in sales. In 2019, FIAs made […]

    News 13% of Americans 55 and Older Plan to Delay Retirement: Survey

    {December 16th, 2020} by Michael S. Fischer

    Thirteen percent of Americans over age 55 who expect to retire plan to delay it now because of the coronavirus pandemic, according to a survey released this week by Smart, a global retirement technology platform. And retirement might happen even later than planned. Thirty-nine percent said they planned to retire between 65 and 69, while 18% said they would […]

    Term Life Prices Continue to Hold Steady: Policygenius

    {December 16th, 2020} by Allison Bell

    Policygenius, an on-line insurance broker, says the cost of the term life policies sold through its site were about the same Dec. 1 as they were Nov. 1, in spite of the COVID-19 pandemic and news of the approval of COVID-19 vaccines. Policygenius started posting price index data monthly reports in September. Click HERE to […]

    MIB Life Application Activity Continues to Rise

    {December 16th, 2020} by Allison Bell

    Year-over-year growth in U.S. individual life insurance applications looked slower in November — mainly because sales sizzled in November 2019. MIB Group Inc. says overall U.S. individual life application activity was 1.6% higher in November 2020 than in November 2019. Click HERE to read the full story via ThinkAdvisor

    NAIC Elects Officers, Adopts Budget

    {December 16th, 2020} by Allison Bell

    Members of the National Association of Insurance Commissioners (NAIC) last week elected officers for 2021 and approved a budget for 2021. The regulators on track to lead the NAIC in 2021 are: Click HERE to read the full story via ThinkAdvisor

    Term Life Market Held Steady Through October: Economists

    {December 16th, 2020} by Allison Bell

    The U.S. term life market looked stable during the first eight month of the COVID-19 pandemic, three economists report. The number of term life products offered to U.S. consumers over 75 fell by 13.6 percentage points, when compared with the number of term life products offered to young consumers, and issuers pulled some of the […]

    MassMutual to Buy Cash Management Platform for RIAs: Deals

    {December 16th, 2020} by Allison Bell

    Massachusetts Mutual Life Insurance Company has agreed to acquire Flourish, a technology platform for registered investment advisors, from Stone Ridge Asset Management. Flourish is best known for its Flourish Cash program, which provides a sweep account clients can use to push cash in an account into an interest-bearing deposit account at one or more banks […]

    4 Ways Aegon Is Changing Its U.S. Strategy

    {December 16th, 2020} by Allison Bell

    Aegon N.V. has become the latest financial services giant to change its strategy in the United States. Based in The Hague, in the Netherlands, Aegon has the equivalent of about $442 billion in assets. Click HERE to read the full story via ThinkAdvisor

    An annuity is an insurance product that can provide a secure income stream for the rest of your life

    {December 16th, 2020} by Karen Fernandez

    “People always live forever when there is an annuity to be paid them,” observed Jane Austen in Sense and Sensibility.  An annuity isn’t literally an elixir for immortality, but Austen does have a point. For centuries, a broad range of investors has found that owning and receiving payments from an annuity has helped them —not to […]

    When Gay Clients Retire, Big Financial Challenges Collide

    {December 16th, 2020} by Jane Wollman Rusoff

    If ever there was a population needing plenty of help with financial issues in their golden years, it’s the LGBTQ+ community. Laura LaTourette, an independent advisor in Dahlonega, Georgia, specializes in serving retirees and pre-retirees in this segment. And in interview with ThinkAdvisor, she reveals the challenges of older gays. Click HERE to read the full story […]

    On a personal note: I am ABSOLUTELY OVERWHELMED with a grateful heart right now!

    {December 16th, 2020} by Sheryl J. Moore

    I cannot explain what it has taken for me to get to the point where I am able to say that much more has come of my son’s death, than would have come had he lived. *I hope that makes sense.* When AJ took his own life after being bullied for being gay, I didn’t […]

    New York Life Announces Dividend Payout for 2021

    {December 16th, 2020} by Allison Bell

    New York Insurance Company says it expects to pay about $1.8 billion in dividends to eligible policyholders in 2021. The projected payout is 5.6% smaller than the $1.9 billion dividend payment total the New York-based insurer announced for 2020. Click HERE to read the full story via LinkedIn

    Growth, Income Or Annuity? Closed-End Funds Can Be All Three

    {December 16th, 2020} by Steven Bavaria

    This is the concluding article of a two-part series (previous article here) about how to define and manage the earnings (“total return”) from our closed-end funds. We can choose to use CEFs as growth vehicles, income vehicles or even as do-it-yourself annuities. We all know the most obvious features of closed-end funds that appeal to many […]

    State Regulators Vote to Cut Minimum Annuity Rate in Model Law

    {December 16th, 2020} by Allison Bell

    Members of the National Association of Insurance Commissioners (NAIC) voted Wednesday to lower the minimum nonforfeiture interest rate for individual deferred annuities to 0.15%, from 1%. The minimum nonforfeiture rate is the lowest interest rate guarantee an insurer can use in an annuity contract to determine the annuity’s cash value. Click HERE to read the […]

    Capital Returns Management Sends Letter to Special Committee of the Board of Directors of FBL Financial Group Calling on the Committee to Reject the Grossly Inadequate Take Private Proposal from Farm Bureau Property and Casualty Insurance Company

    {December 16th, 2020} by Capital Returns

    NEW YORK, Dec. 15, 2020 /PRNewswire/ — Capital Returns Management, LLC (together with its affiliates, “Capital Returns”), one of the top 10 beneficial owners of FBL Financial Group, Inc. (“FFG” or the “Company”) (NYSE: FFG), sent a letter to the Special Committee of the Company’s Board of Directors on Tuesday, December 1, 2020. In the […]

    Why would someone want to put an annuity inside an IRA?

    {December 16th, 2020} by Karin Price Mueller

    Q. Annuities are one of the highest commission products out there. Can you give me any reason why anyone should put an annuity inside an IRA? — Investor   Click HERE to read the full story via NJ.com   Wink’s Note: Although this article is quick to categorize annuities as “high fee, high commission” products, […]

    Des Moines metro’s Principal Global and Athene on list of top money management employers

    {December 15th, 2020} by Staff Reports

    Two metro Des Moines companies rank near the top among the nation’s largest money management firms as places to work, a national business publication says. Pensions & Investments, a twice-monthly newspaper that covers the industry, ranked Principal Global Investors, part of Des Moines-based Principal Financial, in fifth place. Principal Global has made the annual list every year […]

    Review Your Finances Now to Keep on Track in 2021

    {December 15th, 2020} by Ken Nuss

    It’s time to do a year-end financial review and set your path for 2021. You’ll make sure your savings and investments are aligned with your goals, reduce income taxes, and ensure you’ve dotted your i’s and crossed your t’s. Click HERE to read the full story via Kiplinger

    The Best Whole Life Insurance Companies 2021

    {December 15th, 2020} by Tony Steuer and Amy Danise

    Whole life insurance is a financial flashpoint. Almost everyone in the personal finance world has an opinion about it. There’s regular heated debate about whether you should purchase a whole life insurance policy or buy term life insurance and invest the difference. If you like guarantees within life insurance, whole life insurance has probably risen […]

    Insurtech Drives Distribution Innovation

    {December 15th, 2020} by Kate Smith

    Tim Attia has been the face of Slice Labs since the managing general agency launched in 2015. He is an in-demand speaker at insurance industry events and regularly finds himself listed among the top global insurtech influencers. With more than two decades of experience in the insurance industry, Attia, the co-founder and CEO of Slice, […]

    5 Reasons Why Your Life Insurance Claim May Be Denied, And How To Stop It

    {December 15th, 2020} by Law Offices of Jason Turchin

    MIAMI, Dec. 9, 2020 /PRNewswire/ — “My life insurance claim was denied!” This may be the worst news someone could receive while grieving the loss of a loved one. Whether to pay funeral expenses, a gift to a loved one, or to help cover the financial burden lost when a loved one dies, millions of Americans rely […]

    SBLI Launches Mobile E-Ticket with IXN Focused on Accelerated Underwritten Life Products

    {December 15th, 2020} by The Savings Bank Mutual Life Insurance Company of Massachusetts

    WOBURN, Mass.–(BUSINESS WIRE)–SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) today announced its launch of a mobile and web e-ticket platform with IXN®, the leading provider of cross-platform digital quoting solutions for the life insurance industry. Life insurance distributors now have the ability to quickly and easily submit electronic applications digitally for SBLI’s […]

    Insurance Technologies ForeSight® Wins XCelent Customer Base Award for North American Life Insurance Illustration Systems

    {December 15th, 2020} by Insurance Technologies, LLC

    COLORADO SPRINGS, Colo.–(BUSINESS WIRE)–Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the insurance and financial services industries, has received the 2020 XCelent Customer Base Award for Illustration Systems: North America Life Insurance Edition for its ForeSight® Enterprise Life Insurance and Annuity Illustration software solution. The 2020 XCelent Awards are powered by […]

    The Right Technology Will Be Critical In Boosting Life Insurance Sales

    {December 14th, 2020} by Gary Drenik

    There’s an enormous gap between the number of individuals who need life insurance and those who have it. As recently as 12 months ago, just 31 percent of adults older than 18 currently had life insurance, according to Prosper Insights & Analytics research. More alarmingly, just 25.9 percent of millennials owned a life insurance policy. […]

    What Are the Legacy Planning Alternatives to Single Premium Immediate Annuities and Life Insurance?

    {December 14th, 2020} by Kent Schmidgall, CFP

    Life insurance and annuities can be useful tools, yet like any financial planning strategy, they should only be utilized within the context of your overall financial life plan. This is especially true of their role in a particular, and frequently pitched, wealth-transfer strategy that employs a single-premium immediate annuity (SPIA) in conjunction with life insurance. […]

    Alabama, Rhode Island, Push Best-Interest Annuity Sales Rules

    {December 9th, 2020} by John Hilton

    The Alabama Department of Insurance is accepting public comment until Monday on a regulation amendment to attach a “best-interest standard” to annuity sales rules. The amended rule will take effect Jan. 1, 2021, Commissioner Jim Ridling said, and is modeled after the best-interest rules the National Association of Insurance Commissioners approved earlier this year. Likewise, […]

    Constant Drip Of Low Rates Deteriorates Annuity Distribution

    {December 9th, 2020} by John Hilton

    “Insurance companies have had to adjust dramatically to accommodate COVID,” said Sheryl Moore, CEO of Moore Market Intelligence. “Their sales are down, and it’s like, ‘We’re not able to make up for what we’re losing.’ And I’m concerned about that. Because when people aren’t able to make it paycheck to paycheck, it’s going to hit […]

    Life Insurers Regain Footing After Shaky 2020

    {December 9th, 2020} by John Hilton

    Insurers entered 2020 believing that the new principles-based reserving rules would be the biggest disruption of the business of life insurance. Oh, how little they knew what was to come. The COVID-19 pandemic throttled sales figures, sent insurance executives scrambling to activate emergency financial plans, and spurred product development and delivery changes all along the […]

    Highland Capital Brokerage Announces Launch of Consolidated Educational Services (CES)

    {December 9th, 2020} by Highland Capital Brokerage

    Advisor Group-Owned Leader in National Life Insurance and Annuity Distribution Launches New Subsidiary to Align Financial Professionals with Innovative Strategies and Thought Leadership on Insurance, Annuity, and Long-Term Care Solutions (Birmingham, AL—December 2, 2020)— Highland Capital Brokerage recently announced the launch of Consolidated Educational Services, Inc. (CES), a subsidiary of Highland Capital Brokerage. CES is an […]

    After The Fever

    {December 9th, 2020} by Steve Morelli

    COVID-19 would claim many victims over 2020; one of them was the life insurance industry. And the patient is still convalescing. The industry is healing the same way it does most things — slowly. After reacting to the direct effects of the pandemic, carriers and distributors are dealing with the chronic condition of low interest […]

    How to Turn Your Retirement Savings into Retirement Income

    {December 9th, 2020} by Jerry Golden

    I have been working a long time on retirement planning that creates more and safer income for retirees. So long, in fact, that I sometimes forget the subject is new to most investors. They get much of their financial information from their advisers — who often simply treat these investors as “de-accumulators.” Another way to […]

    Whole Life lone bright spot in down Q3 for life insurance sales

    {December 9th, 2020} by Insurance Forums Staff

    Sales of whole life insurance were up 12.9% in the third quarter of 2020, making it the only category that shined amid an otherwise dismal quarter for life insurance. Sales totaled $1,053.2 million, which while besting the second quarter in this pandemic-challenged year, was actually down 10.2% compared to the third quarter of 2019, according […]

    3Q Annuity Sales Reveal Good News, So-So News Amid Pandemic

    {December 9th, 2020} by Staff Reports

    Third-quarter annuity sales numbers included some good news, and some so-so news. Wink reports that deferred annuities sales came to $54.2 billion, an increase of more than 18% over the devastating second quarter. However, the $54.2 billion is still a decline of 1.1% when compared to the same period last year, said Sheryl J. Moore, […]

    Americans Are Demanding Annuities

    {December 9th, 2020} 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 […]

    Broker Words—December 2020

    {December 9th, 2020} by Stephen Howard

    God bless the folks out there I see on local news channels offering so many great ideas on how to make the best of our current situation and suggest ways to make great personal progress in circumstances I don’t think many of us not in or seeking public office would have ever remotely considered advantageous. […]

    Annuities Still Unpopular as Retirement Income Strategy

    {December 9th, 2020} by John Sullivan, Editor-In-Chief

    The average American turning age 65 today can expect to live 40% longer than someone who turned 65 in 1950. Further, the number of Americans retiring every day has more than doubled over the last 20 years. Regardless, only 7 percent of retirees and pre-retirees are counting on annuities to be an important part of their retirement […]

    Independent Life Distribution Technology Survey

    {December 9th, 2020} by Michael Bridges

    The Life Brokerage Technology Committee (formerly NAILBA Technology) is a gathering of industry technology leaders with great experience to discuss and report on standards and trends. The group is represented by brokerage general agencies, carriers, medical information providers and solution vendors. Workflows were documented, data sets were negotiated, and appetite to change was measured. In […]

    FIAs And GLWBs: WTF?

    {December 9th, 2020} by Charlie Gipple

    Recently I have been surveying financial professionals across the country on topics related to practice management, annuities, life, and long term care insurance. The purpose of these surveys is to get a better understanding of areas of confusion, training they feel they are lacking, and also what kinds of training they desire. The ultimate goal […]


    {December 9th, 2020} by NAIFA

    The National Association of Insurance and Financial Advisors (NAIFA) and EveryIncome have completed an educational partnership agreement, under which EveryIncome will provide content for blog posts, as well as articles for NAIFA’s Advisor Today. NAIFA and EveryIncome will work together with financial professionals to educate consumers on financial literacy and client life event solutions. “NAIFA is excited to partner with EveryIncome […]

    BLACK ENTERPRISE Partners With Prudential For A Critical Discussion On Closing The Racial Wealth Gap As The Nation Grapples With A Global Pandemic And Systemic Inequality

    {December 8th, 2020} by Black Enterprise

    NEW YORK, Dec. 8, 2020 /PRNewswire/ — BLACK ENTERPRISE is bringing together a panel of the nation’s leading voices on financial empowerment and wealth creation for African Americans to discuss strategies and actions aimed at closing America’s racial wealth gap. The first ever Your Money Your Life Virtual Roundtable, “Financial Behavior: How African Americans Can Continue To Close The […]

    LifeQuotes.com Issues Update for Life Insurance Shoppers Amidst Worsening COVID-19 Pandemic

    {December 8th, 2020} by LifeQuotes.com

    DARIEN, Ill., Dec. 7, 2020 /PRNewswire/ — LifeQuotes.com, the online life insurance platform that offers comparative quotes from 40 leading life insurers and allows customers to purchase from the company of their choice to achieve maximum savings, today released some handy tips for shoppers during the worsening COVID-19 pandemic. “This is an unprecedented time of national anxiety not […]

    MetLife Named One of the Top 75 Companies for Executive Women

    {December 8th, 2020} by MetLife

    NEW YORK–(BUSINESS WIRE)–MetLife, Inc. (NYSE: MET) today announced that it has been named one of the 2020+ Top Companies for Executive Women by Working Mother Media. The list recognizes companies that are actively advancing women through the corporate ranks, with a focus on areas such as succession planning, profit-and-loss roles, gender pay equity, and work-life integration. This […]

    Driven by the COVID-19 Pandemic, Americans Resolve to Prioritize Health and Wellness in 2021 at the Expense of Their Finances

    {December 8th, 2020} by Allianz Life

    MINNEAPOLIS–(BUSINESS WIRE)–Driven by the COVID-19 pandemic, health and wellness is taking top priority for the majority of Americans in 2021, according to the annual New Year’s Resolutions Study* conducted by Allianz Life Insurance Company of North America (Allianz Life). While this may not come as a surprise given the physical and mental health challenges resulting from […]

    MYGA Magic: Why These Annuities Are Busting Out

    {December 8th, 2020} by Steve Morelli

    LEARN MORE! Hear Sheryl J. Moore dissect third-quarter annuity sales and project into 2021 in a free webinar 1 p.m. ET this Wednesday, sponsored by Advisors Ignite USA. Sign up here. Although low interest rates have been bedeviling annuity sales, multi-year guaranteed annuities had their best quarter in at least five years. Sheryl J. Moore admitted being […]

    Due to the pandemic, many Americans worry more now about their long-term care plans and prioritize staying at home

    {December 8th, 2020} by Nationwide

    COLUMBUS, Ohio, Dec. 8, 2020 /PRNewswire/ — The COVID-19 pandemic has impacted Americans mentally, physically, and financially, and as such, has caused many to reexamine the importance of prioritizing long-term care. The vast majority of Americans (87%) believe it’s more important than ever for people to stay at home for long-term care, as well as have a plan for long-term […]

    Over Half of Those Experiencing Financial Anxiety cite the Pandemic as a Primary Cause, Discover Personal Loans survey finds

    {December 8th, 2020} by Discover

    RIVERWOODS, Ill.–(BUSINESS WIRE)–The COVID-19 pandemic has changed the lives of nearly every American, and a new survey from Discover Personal Loans sheds light on how the pandemic is affecting consumers’ financial situations. Fifty-four percent of consumers who reported having anxiety when it comes to their financial situation say the pandemic is the cause of at […]

    Life And Money Lessons From The Pandemic

    {December 8th, 2020} by Liz Weston

    I’m a “be prepared” kind of person. I like having money in the bank and a good stock of emergency supplies. But I wasn’t prepared to see empty shelves at the supermarket, or thousands of cars lined up at a Texas food bank, or nurses dressed in garbage bags because there wasn’t enough protective equipment. […]

    Regulator Sees COVID-19 Hurting Long-Term Care Insurance Issuers

    {December 8th, 2020} by Allison Bell

    The COVID-19 pandemic seems likely to have a mixed, but mostly bad, effect on blocks of long-term care insurance (LTCI), according to a Minnesota insurance regulator. The regulator, Fred Andersen, talked about the effects of COVID-19 on LTCI issuers Nov. 2, during a virtual meeting of the Long-Term Care Actuarial Working Group. Click HERE to […]

    Illinois Insurance Director to Leave Post: Personnel Moves

    {December 8th, 2020} by Allison Bell

    Robert Muriel, the director of the Illinois Department of Insurance, said he’ll be leaving the department director post Dec. 11, to take a job at a law firm in Chicago. Muriel was appointed to be the Illinois insurance director in March 2019. Click HERE to read the full story via ThinkAdvisor

    Draft Suitability Guide Could Shape How States Regulate Annuity Sales

    {December 8th, 2020} by Allison Bell

    The National Association of Insurance Commissioners (NAIC) team is drafting a document that could affect how states apply the NAIC’s new annuity sales rule model update. The NAIC’s Annuity Suitability Working Group is developing a set of answers to frequently asked questions to flesh out the requirements in the group’s new Suitability in Annuity Transactions Model […]

    Accelerated Underwriting and Speed to Policy

    {December 8th, 2020} by Ian Jeffrey

    Life insurance buyers aren’t the only ones frustrated by a long wait between purchase and policy delivery, so are advisors. In the modern era, a buying process that can take weeks to months to complete is increasingly unsatisfactory to all involved. Especially during a global, when interest in — and need for — life insurance […]

    MDRT Launches Association For Field And Home Office Leaders

    {December 8th, 2020} by MDRT

    PARK RIDGE, Ill. (Dec. 2, 2020) — Building on its culture of excellence and providing financial professionals exceptional opportunities for personal and career growth, Million Dollar Round Table (MDRT) is expanding its family of brands with the introduction of MDRT Global Services. A distinct, individual membership association created exclusively for field and home office leaders, MDRT […]

    Financial advisor compensation: Grids, fees and conflicts

    {December 8th, 2020} by Tobias Salinger

    In a special episode of the Financial Planning podcast for the annual compensation issue, five experts explain five key financial advisor pay issues across the industry. The set of 10-minute interviews covers wirehouse compensation grids, fee models, whether to charge higher fees, conflicts of interest and the blurring the line between RIAs and independent broker-dealers. Click HERE […]


    {December 8th, 2020} by NAIFA

    The National Association of Insurance and Financial Advisors (NAIFA) has named its Executive Committee and Board of Trustees for 2021. The new leadership was nominated by the NAIFA Committee on Governance earlier this year and was confirmed by representatives of NAIFA’s membership at the association’s annual business meeting on Nov. 17. The 2021 Executive Committee […]

    Turned off by Low CD Rates? Consider a Fixed Annuity

    {December 8th, 2020} by Ken Nuss

    Rates on bank certificates of deposit are dismal. The best you can do as of early November 2020 is a mere 0.65% for a one-year CD, 0.85% for a three-year CD, and 1.00% for a five-year certificate, according to Bankrate.com. While you’re certain to get your money back, because CDs are insured by the FDIC, […]

    How to Reduce the Sequence Risk

    {December 8th, 2020} by Jeffrey Costello, CFF®, and David Buckwald, CFP®

    A successful retirement plan may be no match for Lady Luck. For bad luck, that is. To see a hypothetical example of bad luck, suppose Kate Davis had been a diligent investor throughout her working years. Investing consistently in a diversified portfolio of equities, Kate built a $1 million retirement fund by 2007, a year […]

    AIG to Participate in the UBS Virtual Specialty Insurance/Reinsurance Conference

    {December 8th, 2020} by American International Group, Inc

    NEW YORK–(BUSINESS WIRE)–American International Group, Inc. (NYSE: AIG) today announced that Mark Lyons, AIG’s Chief Financial Officer, and Christopher Schaper, AIG Re’s Chief Executive Officer, will participate in a fireside chat at the UBS Virtual Specialty Insurance/Reinsurance Conference on Tuesday, December 15, 2020 at 1:00 p.m. ET. The live, listen-only webcast is open to the […]

    American Equity to Present at Goldman Sachs 2020 US Financial Services Virtual Conference

    {December 8th, 2020} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities (FIAs), today announced that Anant Bhalla, Chief Executive Officer and Ted Johnson, Chief Financial Officer, will present at the Goldman Sachs 2020 US Financial Services Virtual Conference on Wednesday, December 9 at 8:00 a.m. ET. Interested […]

    Broker Words—November 2020

    {December 8th, 2020} by Stephen Howard

    As if this damn pandemic hasn’t given us enough sad news, it is my somber duty to relay the passing of my friend Dave Wickersham, founder and CEO of The Leaders Group. Sad news indeed, particularly for those many, many advisors and BGAs who got to know him while working in the variable life space. […]

    Capco Acquires NEOS LLC

    {December 2nd, 2020} by Capco

    Acquisition of insurance-focused consultancy underlines Capco’s continued commitment to growth in the sector NEW YORK, December 2, 2020 – Capco, the global management and technology consultancy, today announces the acquisition of NEOS LLC (‘NEOS’), a Hartford, CT based consultancy focused on helping leading insurance organizations drive transformational change. The transaction will complement and extend Capco’s […]

    Wink, Inc. Releases Third Quarter, 2020 Life Sales Results

    {December 2nd, 2020} by Wink's Rockstars

    — FOR IMMEDIATE DISTRIBUTION —  NEWS RELEASE    WHOLE LIFE INSURANCE SALES SHINE AMIDST A DISMAL QUARTER   Wink, Inc. Releases Third Quarter, 2020 Life Sales Results   Des Moines, Iowa. November 30, 2020– Wink, Inc. released the third quarter, 2020 life sales results in its 93rd edition of Wink’s Sales & Market Report. Wink’s […]

    The Year in Annuities: 2020 Hindsight with Sheryl Moore

    {December 2nd, 2020} by InsuranceNewsNet

    Signup for the webinar here: https://hubs.li/H0BkK640 With 2020 winding down, we are taking some time with Sheryl Moore, the president and CEO of Moore Market Intelligence and Wink Inc., to review some of the year’s highlights. Sheryl has been the ultimate insider in the annuity business for decades. We at InsuranceNewsNet rely heavily on her data and […]

    Wink Sees Drop in Sales of 3 Types of Life Products

    {December 2nd, 2020} by Allison Bell

    Sheryl Moore, Wink’s president, said in a commentary included with the results that she thinks sales of whole life will continue to be strong for the rest of the year. Sales of indexed universal life may benefit, temporarily, from a consumer rush to buy the product before new life insurance policy illustration rules take effect, […]

    Whole Life Sales Lone Bright Spot In Third-Quarter Sales: Wink

    {December 2nd, 2020} by Staff Reports

    Whole life insurance sales had a mild comeback during the third quarter, with overall sales data underscoring how far the industry has yet to go to recoup business. Third-quarter sales of whole life registered $1.05 billion, up 12.9% when compared with the previous quarter, according to Wink’s Sales & Market Report. But sales were down […]

    News Delaware Floats ‘Best Interest’ Rule for Annuity Sales

    {December 2nd, 2020} by Melanie Waddell

    Delaware has become the latest state to introduce a best interest rule for the sale of annuities — joining Arizona, Iowa and Rhode Island. Introduced by the Delaware Department of Insurance, the proposal aims to align with the SEC’s Regulation Best Interest “to create a harmonized network of state and federal protections that preserve access to […]

    American Equity Announces Closing of Initial 9.9% Equity Investment From Brookfield Asset Management and Expands Execution of Share Repurchase With New Accelerated Share Repurchase Program

    {December 2nd, 2020} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL) announced today that following Hart-Scott-Rodino approval, it has closed an initial equity investment of 9,106,042 shares at $37.00 per share from Brookfield Asset Management Inc. as part of a previously announced strategic partnership. With this investment and the accelerated share repurchase and other […]

    Insurer and wealth manager taps first Black female CEO

    {December 2nd, 2020} by Tobias Salinger

    An insurer and wealth manager has tapped a veteran executive who will be the first woman, Black person or member of any minority group to be its CEO. The 111-year-old Ohio National Financial Services is promoting Barbara Turner from COO, effective Jan. 1, after the retirement of current CEO Gary “Doc” Huffman, the firm said Nov. 23. […]

    News Moody’s Sees Pent-Up Demand for Life and Annuity Deals

    {December 2nd, 2020} by Allison Bell

    Low interest rates and new accounting rules may continue to push publicly traded life insurers to sell variable annuity blocks to private capital companies in 2021. Bob Garofalo, a senior credit officer at Moody’s Investors Service, and other Moody’s analysts make that prediction in a new report on the state of mergers and acquisitions in the U.S. […]

    Which annuities are selling in the coronavirus economy?

    {December 2nd, 2020} by Tobias Salinger

    In fact, sales of all products rebounded from the previous quarter, according to Sheryl Moore, the CEO of annuity research firm Wink. Still, with the exception of the double-digit increases among MYGAs and structured VAs, Moore points out that sales of most of the other products are more than 10% behind their pace at this time last […]

    FIAs: The Right Strategies At The Right Time

    {December 2nd, 2020} by Doug Wolff

    Financial professionals have a multitude of options to choose from in helping their clients save for retirement. But with interest rates at historic lows, stock market volatility high and clients concerned about risk, the job of choosing has become more challenging. As annuities have come further into focus, a number of additional savings options are […]

    Annuity Sales Rebound in Third Quarter: WinkIntel

    {December 2nd, 2020} by Editorial Staff

    Annuity sales emerged from the shadows of COVID-19 in the third quarter. Sales of multi-year guarantee annuity contracts (MYGAs) and of structured annuities were up by double-digits from a year ago, according to Wink’s latest sales report. Total sales for all deferred annuities were $54.2 billion in third-quarter of 2020; an increase of over 18.0% […]

    WFG Hosts First Annual Women’s Conference

    {December 2nd, 2020} by WFG

    JOHNS CREEK, Ga., Nov. 25, 2020 /PRNewswire/ — Female business leaders will share how they maximize opportunities, embrace challenges and own their futures at the upcoming World Financial Group Women’s Conference: Virtually Unstoppable on December 5. The event will include some of WFG’s top women independent agents, who will speak about the importance of taking chances, overcoming the fear of failing […]

    DALBAR Recognizes The Best-In-Class Providers of Policyholder Service

    {December 2nd, 2020} by DALBAR, Inc

    MARLBOROUGH, Mass., Nov. 30, 2020 /PRNewswire/ — 2020 has been a challenging year for everyone; this is certainly true for contact centers. The pandemic forced companies to rapidly shift to a work-from-home model, in many cases where the required infrastructure and training were not already in place. On top of the challenging work environment, representatives were also dealing […]

    Creative Financial Network Attracts Interest and Enters into Partnership with Private Equity-Owned Insurance Distribution Company

    {December 2nd, 2020} by AmeriLife

    CLEARWATER, Fla., Dec. 1, 2020 /PRNewswire/ — Creative Financial Network announced that it has entered into a partnership with AmeriLife, a private equity-owned insurance distribution company headquartered in Florida. The partnership gives Creative Financial Network the resources to invest in its business to drive ongoing development and future growth. “Creative Financial Network’s reputation has been built on its holistic […]

    TruChoice Financial Group Joins Annexus

    {December 2nd, 2020} by TruChoice Financial Group

    MINNEAPOLIS, Dec. 1, 2020 /PRNewswire/ — TruChoice Financial Group, LLC (TruChoice), a dynamic sales and marketing organization and one of the largest distributors of insurance products in the financial services industry, announced today its strategic partnership with Annexus, a leading innovator of retirement solutions. Annexus excels in collaborating with top insurance carriers to design solutions focused on helping […]

    New York Life Releases 2019-2020 Corporate Responsibility Report

    {December 2nd, 2020} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest mutual life insurer, today released the company’s 2019-2020 Corporate Responsibility Report. The report highlights how New York Life’s Corporate Responsibility strategy and priorities align with and reflect the company’s stakeholders – policy owners and clients, employees and financial professionals, communities, and service providers. In his introduction to the […]

    Best’s Special Report: U.S. Life/Annuity Insurers’ Net Income Cut by More Than Half in Nine-Month 2020 Period, Preliminary Results Show

    {December 2nd, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Net income in the U.S. life/annuity industry dropped by nearly 57% to $12.7 billion in the first nine months of 2020, compared with the same prior-year period. This financial review is detailed in a new Best’s Special Report, titled, “First Look: 9-Month 2020 Life/Annuity Financial Results,” and the data is derived from companies’ nine-month […]

    New Advisor Designation Drawing Criticism

    {December 2nd, 2020} by Jeff Berman

    The College for Financial Planning’s new Accredited Behavior Financial Professional (ABFP) designation is causing at least a few industry experts to wonder whether there is actually a need for such an accreditation. “I’m a fan of education, but did we really need another set of letters — ABFP for “Accredited Behavioral Financial Professional” — to […]

    NAIFA Confirms Thomas Michel as 2021 President

    {December 2nd, 2020} by Allison Bell

    National Association of Insurance and Financial Advisors member representatives have confirmed Thomas Michel as the group’s 2021 president, NAIFA announced Monday Click HERE to read the full story via ThinkAdvisor

    Nationwide Adds Fee-Based Guaranteed Lifetime Withdrawal Benefit Rider: Annuity Moves

    {December 2nd, 2020} by Allison Bell

    FIDx, American Equity, Credit Suisse and Salt Financial also have annuity moves news. Nationwide is showing fee-based financial advisors that it’s sticking with the annuity living benefits market, in spite of COVID-19 and low interest rates. The Columbus, Ohio-based insurer is introducing the Nationwide Pro 4 Income Rider, a new, fee-based guaranteed lifetime withdrawal benefit (GLWB) […]

    Why Advisors Must ‘Tailor’ Client Talks on Annuities, Longevity in the Pandemic: Milevsky

    {December 2nd, 2020} by Jane Wollman Rusoff

    COVID-19 is “a sudden shock to mortality,” and the uncertainty it’s caused makes annuities “more valuable than ever,” argues retirement expert Moshe A. Milevsky. Still, many investors don’t see annuities this way. Fewer financial advisors are selling annuities because, for one, virtual meetings make sales difficult to close, says Milevsky, a tenured professor at York […]

    Is Your Cash Value Life Insurance Policy Still a Good Fit for You?

    {December 1st, 2020} by Dennis Ho, FSA, CFA

    When most people buy a life insurance policy, they file it away hoping to never need it. But, if you have cash value life insurance policy, such as whole life, universal life or variable universal life, you purchased more than just insurance coverage. Your policy is also an investment, and some of your premiums over […]


    {November 30th, 2020} by Sheryl J. Moore

    Non-Variable UL Sales for the third quarter of 2020 were $624 million, compared with sales of $841 million for the third quarter of 2019. Third quarter non-variable life sales were down more than 5% when compared to the previous quarter and down nearly 26% as compared to the same period last year. Indexed Life Sales […]

    As Insurers Fight for Fixed-Rate Annuity Sales, Commissions Fall

    {November 26th, 2020} by Warren S. Hersch

    The decline in commissions for the products, called multi-year guaranteed annuities, comes as third-quarter sales jumped to $16.6 billion, up 70% from a year earlier, according to Wink. The leading sellers of the products have also changed, to Sammons Financial and MassMutual from AIG and New York Life in the same quarter of 2019. Wink CEO Sheryl Moore couldn’t be reached for comment. Click HERE […]

    Wink, Inc. Releases 3rd Quarter, 2020 Deferred Annuity Sales Results

    {November 25th, 2020} by Wink's RockStars

    — FOR IMMEDIATE DISTRIBUTION —   NEWS RELEASE   Multi-Year Guaranteed Annuities Dominate Sales! Wink, Inc. Releases 3rd Quarter, 2020 Deferred Annuity Sales Results Des Moines, Iowa. November 23, 2020– Wink’s Sales & Market Report is the insurance industry’s #1 resource for annuity sales data since 1997. Sixty-two indexed annuity providers, 47 fixed annuity providers, […]

    What’s Better than a Paycheck for Life?

    {November 25th, 2020} by Sheryl J. Moore

    If your prospects have never heard of annuities, there are some great things you can share with them, in order to make them receptive. Some people plan to invest in their home, fix it up, and eventually sell it when they are ready to retire- then live off the proceeds. Others may own a business, […]

    Strong MYGA Sales Boost Q3 Annuity Sales Totals

    {November 25th, 2020} by Allison Bell

    U.S. sales of individual deferred annuities started to firm up in the third quarter, according to new issuer survey data from Wink. The survey participants reported a total of $54 billion in deferred annuity sales. Sales were 1.1% lower than in the third quarter of 2019, but sales were up 18% when compared with the […]


    {November 25th, 2020} by Jamie Johnson

    Deferred Annuity Sales Total 3Q2020 deferred annuity sales were $54,217,243,301. Third quarter deferred annuity sales were up more than 18% when compared to the previous quarter, and were down more than 1% when compared to the same period last year. Non-Variable Deferred Annuity Sales Total 3Q2020 non-variable deferred annuity sales were $30,932,756,676. Third quarter deferred […]

    Global Atlantic Financial Group Unites Annuity and Life Distribution within Individual Markets Business Unit; Appoints Jason Bickler as Chief Distribution Officer

    {November 25th, 2020} by Global Atlantic Financial Group

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group (“Global Atlantic”), a leading annuity and life insurance company, has announced the merging of its annuity and life insurance sales and distribution teams into a single distribution organization within its Individual Markets business. The move will provide distribution partners with a streamlined relationship delivering holistic strategies for income, accumulation, […]

    Sammons Financial Completes Work on New Headquarters

    {November 25th, 2020} by Allison Bell

    Sammons Financial Group says builders have completed construction of a new, 30-acre headquarters campus for the company in West Des Moines, Iowa. The company hopes to move about 600 employees and contractors into the six-story, 217-square-foot building on Mills Civic Parkway by the end of the year. Click HERE to read the full story via ThinkAdvisor

    Regulators, Lawmakers Eye Agent Commission Accounting Rules

    {November 25th, 2020} by Allison Bell

    State lawmakers and state insurance regulators could change accounting rules in a way that would cause headaches for some insurers that use outside companies to pay trail commissions to agents and brokers. Some accounting specialists would like to see insurers record the trail commission liabilities when insurers first issue the affected policies. This is even if […]

    Ed Slott on RMDs, Backdoor Roths and the Death of the Stretch IRA

    {November 25th, 2020} by Ben Mattlin

    Ed Slott, the Rockville Centre, New York-based CPA, editor of the newsletter Ed Slott’s IRA Advisor, and author of “The New Retirement Savings Time Bomb” (Penguin Books), to be released in March, recently talked to ThinkAdvisor with some advice about how tax law changes. Here are excerpts from our interview: THINKADVISOR: One of the biggest […]

    TIAA’s Ferguson Faults Wealth Gap

    {November 25th, 2020} by Saleha Mohsin

    Roger Ferguson, the chief executive of Teachers Insurance and Annuity Association and an earlier candidate for Treasury secretary in the Biden administration, said the U.S economy could be six percent bigger than it is today if policy makers narrowed the country’s wealth gap. (Editor’s note: Late Monday, news reports circulated that Janet Yellen would likely get the post.) […]

    Moody’s Sees Pent-Up Demand for Life and Annuity Deals

    {November 25th, 2020} by Allison Bell

    Low interest rates and new accounting rules may continue to push publicly traded life insurers to sell variable annuity blocks to private capital companies in 2021. Bob Garofalo, a senior credit officer at Moody’s Investors Service, and other Moody’s analysts make that prediction in a new report on the state of mergers and acquisitions in the U.S. […]

    Barbara Turner to Become Ohio National’s CEO

    {November 25th, 2020} by Allison Bell

    The board of Ohio National Financial Services has elected Barbara Turner to succeed Gary Huffman as its chief executive officer, effective Jan. 1, 2021. Huffman, who is now the Cincinnati-based life insurer’s chairman and CEO, says he will give up the CEO post Dec. 31. Click HERE to read the full story via ThinkAdvisor

    Ellevest Gets $7.5M Investment From Allianz Life

    {November 25th, 2020} by Jeff Berman

    Allianz Life has invested $7.5 million in Ellevest, the digital-advice platform for women co-founded by industry veteran Sallie Krawcheck, as part of a $12.3 million extension of Ellevest’s Series A financing round. The funds will help Ellevest “expand its business, which is growing quickly at a pivotal point in history,” the firms said Tuesday in […]

    Annuities Could Stop Retirees From Going Broke. Why Don’t More People Use Them?

    {November 25th, 2020} by Ginger Szala

    Retirees face a number of challenges to their financial security, including living longer and facing the danger of depleting their savings too soon. The pandemic has further threatened retirement nest eggs, as a growing number of people need to take Social Security benefits early, before full retirement age, thus reducing those payments in the long […]

    Is Single Premium Life Insurance Right For You?

    {November 25th, 2020} by Tony Steuer, Amy Danise

    ife insurance policies typically have ongoing, regular premium payments. Single premium life insurance policies are specifically designed to be funded by one single premium payment. You may be attracted to the features and benefits of single premium life insurance. Almost any universal life, variable universal life or indexed universal life insurance policy can be funded […]

    Do variable annuities belong in a retirement plan?

    {November 25th, 2020} by Michael Finke

    In 1952, The Teachers Insurance and Annuity Association (TIAA) sold the first variable annuity (VA) developed by Harvard Ph.D. economist William Greenough to Brown University President Henry M. Wriston. Since then, over a million education employees have invested in VAs through the TIAA College Retirement Equities Fund (TIAA-CREF). The original VA was seen as a […]

    New study: People living longer in retirement, signals need for lifetime income strategies

    {November 25th, 2020} by Principal

    November 19, 2020 Guaranteed income strategies have emerged as underutilized methods to not only help people save for retirement but also provide a stream of income to sustain them during potentially longer life spans. The new study from the Longevity Project in collaboration with Principal Financial Group®, explores the implications of longevity in retirement and potential policy […]

    More than 50% of Americans are Considering Benefit Changes as a Result of COVID-19, According to Guardian Life

    {November 25th, 2020} by Guardian

    NEW YORK, Nov. 18, 2020 /PRNewswire/ — Open enrollment is well underway and Americans are approaching it very differently than in years past. For instance, more than half of working Americans said they are likely to make benefits changes as a direct result of the COVID-19 pandemic, and nearly half (44 percent) are likely to make changes as […]

    USAA Life Insurance Company Receives Highest Overall Score in J.D. Power Life Insurance Study

    {November 25th, 2020} by USAA

    SAN ANTONIO, Nov. 18, 2020 /PRNewswire/ — USAA achieved the highest overall score* in the J.D. Power 2020 U.S. Life Insurance Study, released last month. With a score of 844 for life insurance and 902 for annuities (on a 1,000-point scale), USAA significantly outpaced industry averages of 763 and 778, respectively. This is the seventh year in […]

    Haven Life Recognized as the Best InsurTech during Benzinga’s Sixth Annual Global Fintech Awards

    {November 25th, 2020} by Haven Life

    NEW YORK, Nov. 19, 2020 /PRNewswire/ — Haven Life, the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is being recognized as the Best InsurTech amongst the financial service organizations honored during Benzinga’s Global Fintech Awards. The Benzinga Global Fintech Awards features companies in 35 different categories for their work creating positive […]

    Northwestern Mutual Recognizes Champions of Diversity & Inclusion with Inaugural Award

    {November 25th, 2020} by Northwestern Mutual

    MILWAUKEE, Nov. 19, 2020 /PRNewswire/ — After reviewing dozens of submissions from local offices across the country, Northwestern Mutual has announced its Washington, D.C. office has received the company’s inaugural Diversity & Inclusion Champion award. The recognition celebrates those who are making a tangible impact in creating an inclusive work environment; attracting and developing a diversity of talent; building a […]

    FIDx Announces Distribution Technology Partnerships With American Equity Investment Life Insurance Company And Eagle Life Insurance Company, Expanding Access To Annuity Solutions

    {November 25th, 2020} by FIDx

    BERWYN, Pa., Nov. 24, 2020 /PRNewswire/ — Fiduciary Exchange LL (FIDx), a product-agnostic retirement platform solution that allows insurance carriers to offer insurance solutions through wealth management platforms and other platforms, today announced partnerships with insurance providers American Equity Investment Life Insurance Company and Eagle Life Insurance Company. The partnership makes annuity solutions from both insurance entities available […]

    AM Best Affirms Credit Ratings of American National Insurance Company and Its Subsidiaries

    {November 25th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of American National Insurance Company (ANICO) and its life/health subsidiaries, American National Life Insurance Company of Texas (ANTEX), American National Life Insurance Company of New York (ANICONY) (Glenmont, NY) and Standard Life […]

    AM Best Posts Interactive Webinar Highlights for “How the COVID-19 Pandemic Is Changing the Insurance Industry”

    {November 25th, 2020} by AM Best

    OLDWICK, N.J.–(BUSINESS WIRE)–Viewers can access highlights from an AM Best webinar sponsored by LexisNexis Risk Solutions to learn about the fallout of COVID-19 and both the pitfalls and opportunities that could await insurers going forward. Panelists include: Patrick Sugent, vice-president, data science, LexisNexis Risk Solutions; Adam Pichon, vice-president, auto insurance, LexisNexis Risk Solutions; and Christopher Rice, senior director, data […]

    New York Life Announces Second Largest Dividend in Company History with $1.8 Billion Total Dividend Payout to Policy Owners in 2021

    {November 25th, 2020} by New York Life

    NEW YORK–(BUSINESS WIRE)–New York Life, America’s largest mutual life insurer1, today announced that the company has declared a dividend payout of $1.8 billion to eligible participating policyholders in 2021, the second largest in company history. The ability to pay a dividend in excess of the guarantees provided to policy owners on their cash value growth […]

    FlexGuard ℠ achieves record-setting $1B in sales less than six months after launch

    {November 25th, 2020} by Prudential

    NEWARK, N.J.–(BUSINESS WIRE)–FlexGuard℠, Prudential Financial, Inc.’s (NYSE: PRU) first indexed variable annuity product, achieved $1 billion in sales less than six months after launch,i making it the fastest-selling product of its kind ever, according to annuity sales data from the Secure Retirement Institute. FlexGuard is designed to provide customers with downside protection and the opportunity to […]

    Roger Ferguson Jr. to Retire as TIAA CEO: Personnel Moves

    {November 25th, 2020} by Allison Bell

    Roger Ferguson Jr., the president and chief executive officer of Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA) , intends to retire from those posts March 31, TIAA announced earlier this week. Ferguson has been TIAA’s president and CEO since 2008. Before that, he was head of financial services at Swiss Re and […]

    Ex-Broker Charged With Murdering a Client in Texas

    {November 25th, 2020} by Jeff Berman

    A former Parkland Securities broker who was under investigation for a suspected Ponzi scheme has been charged with murdering a client, according to the police department in Carrollton, Texas. Detectives charged 48-year-old Keith T. Ashley of Allen, Texas, with murder for the shooting death of 62-year-old James “Jim” Seegan, the Carrolton Police Department announced Wednesday. Click HERE to […]

    Using Cash Value Life Insurance for Retirement Income

    {November 25th, 2020} by Steve Parrish

    Cash value life insurance can be a versatile tool in the hands of a diligent financial advisor, writes our guest columnist, an Adjunct Professor of Advanced Planning at The American College of Financial Services. Can cash value life insurance provide a useful retirement income supplement? It depends on whom you ask.  Click HERE to read […]

    Can Annuities Slow the Cash-Drain from 401(k)s?

    {November 25th, 2020} by Kerry Pechter

    The Defined Contribution Institutional Investors Association held its annual Academic Forum virtually this week. The ongoing dilemma for this organization of asset managers and others is: How to keep money in 401(k)s longer. As they convened virtually for their annual Academic Forum this week, members of the Defined Contribution Institutional Investors Association (DCIIA) faced a […]

    U.S. Individual Life Sales Rise

    {November 25th, 2020} by Allison Bell

    U.S. life insurers sold 7% more individual life insurance policies in the third quarter of this year than in the third quarter of 2019, according to LIMRA. Click HERE to read the full story via ThinkAdvisor         Wink’s Note: Stay tuned for Wink’s Sales & Market Report 3rd Quarter, 2020’s life sales release. […]

    Our best wishes for a safe, healthy, and happy Thanksgiving.

    {November 24th, 2020} by Wink's RockStars

    At this time of Thanksgiving, our thoughts turn gratefully to you with warm appreciation. The Wink offices will be closed on Thursday and Friday for an extended holiday break. Our best wishes for a safe, healthy, and happy Thanksgiving.   -The Wink, Inc. family 

    Checklist for Buying Cash Value Life

    {November 24th, 2020} by Steve Parrish

    Follow the steps that Steve Parrish of The American College has assembled here when helping a client obtain the right cash value life insurance policy. Product selection What kind of policy fits the situation, both in terms of the usage of the policy and the client’s ability to understand and accept the attendant risk?  Click […]

    Lincoln Adapts Indexed Universal Life for Younger Buyers

    {November 24th, 2020} by Warren S. Hersch

    Lincoln is rolling out the two indexed contracts after a tough quarter for the product segment. In the second quarter, sales of indexed universal life insurance fell 14% from the same period in 2019, according to Wink’s Sales & Market Report. Click HERE to read the full story via Life Annuity Specialist

    What Advisors Think About Indexed Life and Its 50-Page Illustrations

    {November 24th, 2020} by Hannah Miller

    In the U.S., indexed universal life insurance sales fell 14% in the second quarter from a year earlier, according to Wink’s Sales & Market Report.   Click HERE to read the full story via Life Annuity Specialist.

    Banks Rebound in Third Quarter to Drive Fixed-Rate Deferred Annuities Growth

    {November 24th, 2020} by Secure Retirement Institute

    WINDSOR, Conn., Nov. 17, 2020—Fixed-rate deferred (FRD) annuity sales surged 60% in the third quarter to $15.8 billion, driven in part by strong sales through banks, according to the Secure Retirement Institute® (SRI®) U.S. Individual Annuity Sales Survey. “Despite the 10-year treasury rates remaining below 1%, FRD annuities were the largest driver of sales growth in […]

    New Life Insurance Products from Lincoln Financial Group Provide Greater Flexibility to Protect Loved Ones and Retirement

    {November 17th, 2020} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–In a time when nearly half of consumers surveyed say they would be more likely to purchase life insurance if the benefits could be used while they’re alive1, Lincoln Financial Group is introducing new life insurance products that focus on the ‘living benefits’ for needs such as retirement income and long-term care in […]

    Equitable enhances its flagship buffered annuity, or RILA

    {November 17th, 2020} by Editorial Staff

    Available on Nov. 23, the eight new options add to the Dual Direction feature on Equitable’s Structured Capital Strategies Plus buffered annuity. ‘When Equitable introduced the buffered annuity in 2010, it created not just a new kind of annuity but a new category of annuity, the RILA (registered index-linked annuity). Since then, sales have steadily […]

    In nod to iconic ‘Wild Kingdom,’ new Mutual of Omaha logo features lion

    {November 17th, 2020} by Henry Cordes

    In all of television, there may not be a closer association between an advertiser and a program than Mutual of Omaha and “Wild Kingdom.” The Omaha insurance company has made a nod to that iconic show and historic link by adopting a new logo that features a lion. On Thursday, Mutual publicly unveiled the replacement […]