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Archive for October 2010

Response: Real Money vs. Not-Real Money

{October 31st, 2010} by Sheryl J. Moore

Setting It Straight with Scott Burns5 ORIGINAL ARTICLE CAN BE FOUND AT: Real Money vs. Not-Real Money  Scott,  I had the occasion to read your article, “Real Money vs. Not-Real Money.” You are correct in one regard on this article: the value of the annuities in question, accumulating at 8%, are “NOT the actual cash value” […]

Response: Investment Tricks – Annuity Style

{October 31st, 2010} by Sheryl J. Moore

Setting It Straight with CBS MoneyWatch ORIGINAL ARTICLE CAN BE FOUND AT: Investment Tricks – Annuity Style  Allan, All earnings on indexed annuities are limited via the use of a cap, participation rate, or spread. The fact that gains are limited on indexed annuities is advertised blatantly by the underwriting insurance company, as this is how the […]

Response: Planning to Buy Retirement Fund? Stay Away from Indexed Annuities

{October 31st, 2010} by Sheryl J. Moore

Setting It Straight with Varun Walia ORIGINAL ARTICLE CAN BE FOUND AT:  Planning to Buy Retirement Fund? Stay Away from Indexed Annuities Dear Ms. McDonough and the team at BrightHub.com, I am an independent market research analyst who specializes in the indexed annuity and life markets. I have tracked the companies, products, marketing, and sales of […]

The Facts About Source of Funds

{October 29th, 2010} by Jack Marrion

By Jack Marrion InsuranceNewsNet Oct. 26, 2010 – The insurance licensed producer makes a balanced presentation on the pros and cons of an index annuity. The consumer weighs the information and decides the annuity will do a better job of meeting his or her needs and sells a mutual fund to get the cash and […]

A.M. Best Downgrades Ratings of Liberty Life Insurance Company; Maintains Under Review with Negative Implications

{October 26th, 2010} by N/A

A.M. Best Downgrades Ratings of Liberty Life Insurance Company; Maintains Under Review with Negative Implications October 25, 2010 | Business Wire, Inc. Email   Print   Free Newsletter OLDWICK, N.J.–(BUSINESS WIRE)– A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and issuer credit rating to “a-” from “a” of Liberty Life […]

NAFA Selects Chris Johnson to Join Board of Directors

{October 26th, 2010} by N/A

Milwaukee, WI  – October 22, 2010 – The National Association for Fixed Annuities (NAFA) has selected S. Christopher Johnson, CLU, of Austin, TX, to join its board of directors replacing a recently retired director, Art Pickering, Senior Vice President at Forethought. Johnson’s three-year board term will officially begin at NAFA’s annual membership meeting held on […]

Insurance pros pitch annuities as antidote to market downturns

{October 25th, 2010} by Mark Shoeff, Jr.

Prudential CEO Strangfeld says Americans may now be more open to annuities to ensure income By Mark Schoeff Jr. October 25, 2010 3:56 pm ET After seeing their retirement savings devastated by the financial crisis, Americans may be more open to annuities as a way to ensure an income stream and protect against market downturns, […]

CNO Financial Receives Approvals to Merge Three Insurers

{October 25th, 2010} by Fran Matso Lysiak

CARMEL, Ind. October 22 (BestWire) — CNO Financial Group Inc. said it received regulatory approvals from its home state of Indiana and three others to merge three insurance company subsidiaries. Two subsidiaries, Conseco Insurance Co. and Conseco Health Insurance Co., were merged into Washington National Insurance Co. in a deal that also required approval from regulators in Illinois, Arizona […]

Congressional delegation protects jobs

{October 25th, 2010} by Brent Hoffman

Oct 14, 2009 | 11:10 am  SIOUX CITY – Kudos should go to members of Iowa’s congressional delegation for helping protect the state’s financial services industry and its jobs. U.S. Sens. Chuck Grassley and Tom Harkin, as well as Congressman Steve King, should be praised for their help in getting a provision into the financial […]

Response: Surging Interest in Stock-Based Annuities

{October 21st, 2010} by Sheryl J. Moore

PDF for Setting it Straight with Bob Carlson ORIGINAL ARTICLE CAN BE FOUND AT: Surging Interest in Stock-Based Annuities Dear Mr. Carlson, I recently had the occasion to read an article that you authored for Investing Daily, “Surging Interest in Stock-Based Annuities.” While your efforts to provide an favorable article on indexed annuities is to be […]

Consider the tax benefits of annuities in retirement planning

{October 19th, 2010} by N/A

- Monday, October 18, 2010 The economic downturn has more Americans concerned with their retirement savings, but many are hesitant to reinvest in the stock market. Recent studies show that older Americans in particular are shying away from traditional stocks and bonds and focusing on building their savings. Young adults, once thought to be more […]

Rule 151A: The Surrender

{October 19th, 2010} by NU ONLINE NEWS SERVICE

By NU ONLINE NEWS SERVICE Published 10/18/2010  The U.S. Securities and Exchange Commission (SEC) has posted the regulation it will use to withdraw a regulation that could have classified many indexed annuities as securities. The SEC tried in January 2009 to issue a regulation, Rule 151A, that would have given it the ability to share jurisdiction […]

THE CHALLENGE IS ON- I NEED YOUR HELP!

{October 18th, 2010} by Sheryl J. Moore

  Are you sick of the misinformation about indexed annuities in the media? I am. I’ve taken the matter into my own hands by holding the media accountable for their journalistic integrity when it comes to their reporting on indexed annuities. For the past three years, I have been personally responding to every negative/inaccurate article […]

Letters: Advice on annuities badly out of date

{October 18th, 2010} by Roy Rosner

By Letters to the Editor for Sunday, Oct. 17 Posted: 9:21 p.m. Friday, Oct. 15, 2010 The Oct. 3 Motley Fool column did a disservice to all readers, but especially to those in or near retirement. The information about annuities (Equity Index, Variable and Lifetime Income) is a decade or more out of date. Modern annuities – those purchased since […]

Mike Wells named CEO of Jackson National Life Insurance Co.

{October 15th, 2010} by Bloomberg News

By Bloomberg News October 15, 2010 9:51 am ET Prudential Plc, the U.K.’s biggest insurer, promoted Mike Wells to chief executive officer of its U.S. division and appointed two new non-executive directors as it reorganizes the board after a failed takeover bid in Asia. Wells, 50, has been chief operating officer of Jackson National Life […]

Response: Downside Protection Has Its Downsides

{October 15th, 2010} by Sheryl J. Moore

PDF for Setting It Straight with Wall Street Journal5 ORIGINAL ARTICLE CAN BE FOUND AT: Downside Protection Has Its Downsides  Dear Mr. Zweig, I believe that you are acclimated with who I am because of my October 4, 2010 correction to Allan Roth’s article, “Build Your Own Annuity” (attached). In the event you do not recall, […]

SEC Withdraws Rule 151A

{October 15th, 2010} by Securities and Exchange Commission

  SECURITIES AND EXCHANGE COMMISSION Securities and Exchange Commission. ACTION:   17 CFR Part 230 [Release No. 33-9152; File No. S7-14-08] RIN 3235-AK16 INDEXED ANNUITIES AGENCY: Final rule; withdrawal; request for comment on Paperwork Reduction Act burden estimate. SUMMARY: We are withdrawing rule 151A under the Securities Act of 1933, which defines the terms “annuity […]

Robertson Appointed Indiana Insurance Commissioner

{October 15th, 2010} by Meg Green

INDIANAPOLIS October 14 (BestWire) — Stephen Robertson has been tapped to be Indiana insurance commissioner, succeeding Carol Cutter, who passed away last month. Indiana Gov. Mitch Daniels announced Robertson’s appointment. Robertson, who has served as the Department of Insurance’s executive director since June, first joined the DOI in 2008 as director of the title insurance division. He went on […]

Speculation on 2010 Indexed Annuity Sales…

{October 14th, 2010} by Sheryl J. Moore

Fixed annuities are averaging 3.42% today (including bonus). That number was a double-digit at the turn of the century. By comparison, certificates of deposit (CDs) are currently averaging 0.75%; less than one percent! I could walk into the bank and get a rate of 7.00% in 2000. Sound attractive? I’m betting not. For that reason, […]

Transamerica to cease sales of fixed annuities via insurance brokers

{October 11th, 2010} by Darla Mercado

By Darla Mercado October 11, 2010 4:00 pm ET Transamerica/Aegon has announced it will cease sales of fixed annuities through insurance brokers, starting Jan. 1. The insurer made the announcement in an Oct. 6 memo, which was obtained by InvestmentNews. Transamerica cited the “persistently low interest rate environment” and “increasing regulatory challenges in the fixed […]

Aegon Outlines Cost-Cutting Measures, Closure of Two UK Businesses

{October 11th, 2010} by David Pilla

Copyright: A.M. Best Company, Inc. Source: BestWire Services Wordcount: unknown   As part of an ongoing cost-cutting effort, Aegon NV said it will close two businesses in the United Kingdom and cut costs 25% while focusing on its core life insurance and protection segments. Aegon said it will close its U.K. third-party pension administration and […]

AIG to Repay TARP; 'Glimpsing Sunshine'

{October 11th, 2010} by Meg Green

Copyright: A.M. Best Company, Inc. Source: BestWire Services Wordcount: unknown   American International Group Inc.’s top officer said the company is “glimpsing sunshine” as it announced plans to repay its debt to the federal government, plus said it would sell two Japanese life insurance companies to U.S.-based life insurer Prudential Financial Inc. for $4.8 billion. […]

AIG to Repay TARP; ‘Glimpsing Sunshine’

{October 11th, 2010} by Meg Green

Copyright: A.M. Best Company, Inc. Source: BestWire Services Wordcount: unknown   American International Group Inc.’s top officer said the company is “glimpsing sunshine” as it announced plans to repay its debt to the federal government, plus said it would sell two Japanese life insurance companies to U.S.-based life insurer Prudential Financial Inc. for $4.8 billion. […]

Prepare for Tougher Annuity Standards

{October 11th, 2010} by Michael J. Prestwich

  By Michael J. Prestwich Oct. 6, 2010 — Passage of the federal Financial Reform Bill in July ended the battle between state insurance departments and the SEC over who would regulate indexed annuities. Congress sided with the states as long as they adopt regulations that substantially meet or exceed the minimum requirements established by […]

Phoenix forms strategic alliance with AltiSure

{October 11th, 2010} by N/A

Oct 07, 2010 (Datamonitor via COMTEX) — The Phoenix Companies has formed a strategic alliance with AltiSure Group, an annuity and life insurance design and distribution company. The two companies also launched Secure Lifestyle Annuity Series, which includes The Secure Lifestyle and the Secure Lifestyle Bonus fixed indexed annuities. Designed for both pre-retirees and retirees, […]

Response: Build Your Own Annuity

{October 4th, 2010} by Sheryl J. Moore

PDF for Setting It Straight with CBS MoneyWatch ORIGINAL ARTICLE CAN BE FOUND AT: Build Your Own Annuity  Allan, I am really starting to get the feeling that I may be able to get you to endorse indexed annuities by the end of 2010 after all! After reading the article below, it actually sounds like you […]

AIG Ready to Repay New York Fed; Makes Deals in Japan

{October 1st, 2010} by ALLISON BELL

By ALLISON BELL Published 9/30/2010  American International Group Inc. (AIG) says it will soon have the cash to repay and terminate a $20 billion Federal Reserve Bank of New York credit facility. AIG, New York (NYSE:AIG), says the plan to repay the New York Fed credit facility is part of a larger agreement-in-principle with the U.S. […]

Dodd-Frank: The FIO is Coming

{October 1st, 2010} by ARTHUR D. POSTAL

By ARTHUR D. POSTAL Published 9/30/2010  WASHINGTON BUREAU — Staffers at the U.S. Treasury Department already are working on setting up the new Federal Insurance Office (FIO) created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The department also is conducting a public search for an FIO director,   Deputy Treasury Secretary Neal Wolin told […]

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