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Archive for June 2012

Will Seniors Still Buy Annuities?

{June 27th, 2012} by Daniel Williams

By Daniel Williams June 21, 2012 •   Last week, while at the MDRT conference in California, I had the opportunity to speak with a couple of seniors to get their thoughts on retirement, long-term care, annuities, their health and a myriad of other topics. We’ll bring you more information from those interviews, but for […]

Customize Annuity Options With Laddering

{June 27th, 2012} by Scott Bulmer, Kevin Hedstrom

By Scott Bulmer, Kevin Hedstrom June 21, 2012 • As an agent who has worked with hundreds of clients to help them build and protect their retirement nest eggs, I am now faced with helping my clients make the dramatic shift from the wealth management phase (gathering and growing assets) to the income management phase […]

Upbeat on AIG, Sterne Agee Analysts Assign the Insurer a "Buy" Rating

{June 27th, 2012} by Arthur D. Postal

By Arthur D. Postal June 26, 2012 • A New York-based securities firm today initiated coverage of American International Group, New York, with a buy rating based on its view that its major problems are behind it, and there is a potential for strong growth in core operations, such as Chartis. “While we view AIG […]

Fewer investors read through a VA prospectus in 2012

{June 26th, 2012} by Darla Mercado

Tomes can be 150-300 pages long; brevity would help reader rates By Darla Mercado June 26, 2012 Here’s an alternative to light summer reading: a variable annuity prospectus. Investors continue to eschew leafing through variable annuity prospectuses, with only 17% of 255 retirees and pre-retirees saying they bothered to take a look, according to a […]

European crisis will affect capital markets for years: Allianz

{June 26th, 2012} by Andrew Osterland

U.S. political gridlock also a problem affecting economy and equities By Andrew Osterland June 26, 2012 Given the problems in Europe, investment experts at Allianz Global Investors have a dismal view of the global capital markets. “We expect financial repression and negative real yields to continue for three to five years,” Andreas Uterman, global chief […]

SEC official warns insurers about VA benefit exchanges

{June 26th, 2012} by Darla Mercado

Nash says switch must be in best interests of contract holders By Darla Mercado June 26, 2012 An official with the Securities and Exchange Commission called upon life insurers to protect their legacy variable annuity clients — and to make sure that swapped benefits are suitable. “When a company discontinues the sale of a contract, […]

Committed to the Career Channel

{June 26th, 2012} by Mark Wilkerson, CFP

By Mark Wilkerson, CFP June 25, 2012 • OneAmerica Financial Partners sponsors the nation’s largest half marathon, which starts and finishes near our home office in Indianapolis. I’ve run in the past six of these events myself. The last three years, I ran to raise money for the ongoing earthquake relief efforts in Haiti, so […]

Is Infertility Killing Independent Distribution?

{June 26th, 2012} by Maria Ferrante-Schepis

By Maria Ferrante-Schepis June 22, 2012 • Infertile? There’s a word I’ll bet you’ve never heard used to describe the fate of independent life insurance distribution. Neither had I, until recently. Click here to read more…

Genworth Financial Survey Identifies Needs Gap in Life Insurance Coverage

{June 26th, 2012} by Arthur D. Postal

By Arthur D. Postal June 25, 2012 • A new study indicates that there is a significant gap between the amount of life insurance most Americans own and what they actually need. The report, published by Genworth Financial, Richmond, Va., finds that college-educated insured adults have 2.5 times the amount of life insurance coverage of […]

Is Social Security Biased Against Men?

{June 26th, 2012} by Michael Ham

By Michael Ham June 25, 2012 • For those of you who may not know it, Social Security is the best and least expensive annuity one can buy. Now that I have your attention, let me further intrigue you with the fact that Dave Ramsey, financial guru du jour, thinks you should generally begin receiving […]

The Many Advantages of Section 79 Plans

{June 26th, 2012} by Jeff Reed

By Jeff Reed June 25, 2012 • A Section 79 plan may just be the closest thing to a supercharged Roth IRA. While there may not be lions and tigers and bears stalking us in this business, there are a number of niches that we need to keep an eye on to do the best […]

LIMRA: Advisors View Annuities As Appropriate For Clients' Plans

{June 26th, 2012} by N/A

WINDSOR, Conn, June 25, 2012—Fifty-five percent of advisors whose clients typically have less than $500,000 investable assets believe annuity products should be included as part of their financial portfolios, according to a recent LIMRA study. “Our study found that the majority of advisors feel longevity — outliving their assets — to be the greatest risk […]

Retirement Planning: Working Longer Is A Key Factor

{June 25th, 2012} by Lisa Bennett

Prudential paper discusses implications of new National Retirement Risk Index report NEWARK, N.J.–(BUSINESS WIRE)– A new Center for Retirement Research at Boston College report highlights the difference a few extra years of work can make toward ensuring that the vast majority of Americans can achieve retirement security. The National Retirement Risk Index has shown that […]

Jackson National's new iPad app lets wholesalers travel light

{June 25th, 2012} by Davis D. Janowski

Fewer paper cuts for financial advisers? By Davis D. Janowski June 25, 2012 Another iPad application joins the ranks of similar apps that are saving the backs of wholesalers pitching to advisers. Jackson National Life Insurance Company today launched the Elite Access iPad application (see also, Leveraging the iPad (J.P. Morgan Funds app for wholesalers […]

Finra: brokers must update client info even if they keep their VA

{June 25th, 2012} by Darla Mercado

Broadened general suitability rule to apply July 9 By Darla Mercado June 25, 2012 Advisers who recommend that a customer stick with a variable annuity will need to revisit the information in the client’s profile and make sure the product is still suitable. That’s the requirement in the Financial Industry Regulatory Authority Inc.’s Rule 2111, […]

ING U.S. Hires President of Individual Retirement Markets

{June 23rd, 2012} by Noah Guillaume

ALSO: Industry news from Symetra, Jefferson National, SunGard, Phoenix Cos. & BAN   By Noah Guillaume June 22, 2012 • The Retirement side of ING U.S. has hired Rich Linton as president of Individual Markets, which provides personal retirement, investment and income guidance and product solutions to pre-retirees, retirees and the rollover markets. As head […]

Are the Boomers Heading to Your Community?

{June 22nd, 2012} by Daniel Williams

By Daniel Williams June 20, 2012 • Advisors in Florida just might see an uptick in potential boomer clients as towns such as Tallahassee are targeting that wealthy demographic. We all know about the traditional senior client migrating to the Southern clime of Florida, but it looks as if certain communities are recruiting the boomers […]

The Producers Group Hires Vice President Of Disability Distribution

{June 21st, 2012} by Sarah Ventura

Mark Perlman to Lead The Producers Group’s Disability Insurance Department San Diego, CA – The Producers Group (TPG) announced today the appointment of Mark Perlman, CLU, ChFC, CLTC as the Vice President of Disability Distribution. Based out of the Company’s New York office, Perlman will lead the TPG’s Disability Insurance department. “We could not be […]

Voss to Retire at Year's End

{June 21st, 2012} by Elizabeth Festa

Gerhart gets Iowa’s Top Insurance Regulatory Seat   By Elizabeth Festa June 19, 2012 • Iowa Gov. Terry E. Branstad recently named Nick C. Gerhart as the new Iowa Insurance Commissioner, succeeding Susan Voss, currently immediate past president of the National Association of Insurance Commissioners (NAIC). Gerhart currently serves as the vice president of compliance […]

On Longevity Risk, Annuities and Johan Santana

{June 21st, 2012} by Maria Wood

By Maria Wood June 20, 2012 • History was made on June 1. Yet unless you follow baseball religiously or are a lifelong New York Mets fan like me, you probably didn’t realize it. That’s the day Mets left-handed pitcher Johan Santana threw the first no-hitter in the club’s 50-year history. Click here to read […]

Survey: Half of U.S. Households Aren’t Ready to Retire

{June 21st, 2012} by Warren S. Hersch

By Warren S. Hersch June 20, 2012 • The Center for Retirement Research at Boston College, Boston, published this finding in a new report. The Center’s National Retirement Risk Index shows that about 50% of U.S. households are not ready to retire, up from 30% in 1989. But the report also finds that by working […]

American Equity CEO Remembered as One of the First Women to Lead a US Life Company

{June 21st, 2012} by Fran Matso Lysiak

Best’s News Service – June 20, 2012 12:28 PM WEST DES MOINES, Iowa – Wendy C. Waugaman, chief executive officer and president of American Equity Investment Life Holding Co. who died after a battle with cancer, is being remembered as a trailblazer who helped build the company. Waugaman, who died at 51, was one of […]

So Much for Oversight

{June 21st, 2012} by Bill Coffin

As Oklahoma delegates regulation of insurance to insurance companies themselves, the limits of state-based oversight become clear.   By Bill Coffin June 19, 2012 • For the last several years, we have lived in a world where the economic stakes for a major insurance failure have become too large to ignore. When AIG imploded in […]

American Equity Mourns Death Of CEO

{June 21st, 2012} by N/A

Press Releases By Business Wire  06/19/12 – 03:25 PM EDT American Equity Investment Life Holding Company (NYSE: AEL), a leading underwriter of index and fixed rate annuities, regretfully announced today that Wendy C. Waugaman, Chief Executive Officer and President and a member of the Company’s Board of Directors, passed away yesterday after a courageous battle […]

Advisors: Consider the Split Annuity/Roth Conversion Strategy

{June 21st, 2012} by Lloyd Lofton

By Lloyd Lofton June 18, 2012 • Many of your clients may decide to make changes to their retirement blueprint, either as they approach retirement or as the result of the economy. Many may have accumulated a great deal of money in their IRA, 401(k) or other retirement plan. The money in their accounts may […]

Advisors: Check Clients’ Charitable Giving

{June 21st, 2012} by Margarida Correia

By Margarida Correia June 19, 2012 – Advisors significantly underestimate how many of their wealthy clients contribute regularly to charities and how much they give. This gap represents a missed opportunity not only for advisors but also their clients whose charitable contributions would go much further if they were better integrated into their overall financial […]

Gen-Y May Have a Growing Yen for Annuities

{June 21st, 2012} by Linda Koco

By Linda Koco AnnuityNews Annuities are apparently garnering more attention from Generation Y adults than most professionals in the business have come to expect. Generation Y refers to people born in years 1980 to1995, making their current age range 17 to 32. The most recent edition of the IRI Fact Book points out that Gen-Y […]

The Four Cs Of Successful Retirement Income Strategies

{June 21st, 2012} by Sara Thurin Rollin

Posted By: Editor On 6/20/2012 10:30:00 AM Business   Wire, Inc. Interactive Website also Launched to Help Consumers Understand Retirement Income Needs MINNEAPOLIS–(BUSINESS WIRE)– With 4.5 million baby boomers transitioning to retirement each year*, determining an appropriate strategy for turning years of retirement savings into long-term guaranteed income is a complicated process that can benefit […]

New Study Identifies Likely Annuity Buyers

{June 21st, 2012} by Warren S. Hersch

By Warren S. Hersch June 19, 2012 • A new consumer research study lets annuity manufacturers and distributors, including banks, credit unions and securities firms, examine information about their customers to distinguish those that are most receptive to buying annuities. The study is published by Kehrer Saltzman & Associates in association with Consumer Financial Decisions […]

Wendy Waugaman's Passing

{June 19th, 2012} by Sheryl J. Moore

The following message was sent by David J. Noble, Founder and Executive Chariman of American Equity Investment Life on June 19, 2012: “It is with great sadness that I must inform you that American Equity has lost a special friend and significant team member. Wendy Waugaman has been fighting a long and courageous battle with […]

FBL Financial’s CEO Plans to Step Down June 30

{June 19th, 2012} by N/A

West DeMoines, Iowa-based FBL Financial Group Inc.’s CEO James Hohmann is stepping down on June 30, the insurance company announced. James Brannen, the company’s chief financial officer, has been named interim CEO until a permanent replacement is found. The company expects to name a new CEO by the end of next year. Hohmann will also […]

Gerhart Appointed to Iowa Insurance Commissioner Post

{June 19th, 2012} by N/A

Iowa Gov. Terry Branstad has name an executive with a West Des Moines financial group as the state’s new insurance commissioner. Thirty-seven-year-old Nick Gerhart, of Des Moines, will replace Susan Voss, who is retiring. He will begin his new job this fall and will assume all responsibilities when Voss retires at the end of the […]

Nationwide’s Enhanced Indexed Universal Life Solution Lets Clients Customize Policy to Their Needs

{June 19th, 2012} by Charley Gillespie

June 18, 2012, 10:11 a.m. EDT COLUMBUS, Ohio, Jun 18, 2012 (BUSINESS WIRE) — Advisors looking for flexible life insurance products that offer clients wary of market volatility the potential for growth and protection from market loss now have more options. Nationwide Financial Services, Inc. announced today that Nationwide YourLife(R) Indexed UL, a fixed life […]

New Iowa Insurance Commissioner to Take Over in 2013

{June 19th, 2012} by Michael Buck

Best’s News Service – June 18, 2012 11:05 AM DES MOINES, Iowa. – The next insurance commissioner of Iowa will begin working this fall within the state’s insurance division to ensure he’s ready to take over at the end of the year, according to the governor’s office. Gov. Terry E. Branstad last week tapped Nick […]

401(k) Disclosure May Spark Market Shake-up

{June 19th, 2012} by Jenny Ivy

With new rules lifting the veil on 401(k) fees, sponsors now understand what they’re paying for. And they may think twice about the retirement plan they offer.   By Jenny Ivy June 15, 2012 • New fee disclosure regulations could put pressure on popular asset managers that control trillions of dollars in 401(k) plans. According […]

Allianz Life Named 13th on Star Tribune’s Top Workplaces 2012

{June 19th, 2012} by Sara Thurin Rollin

Business   Wire, Inc. Employee engagement and development credited as a driving force for success MINNEAPOLIS–(BUSINESS WIRE)– Allianz Life Insurance Company of North America (Allianz Life®) has been named one of the Top 100 Workplaces in Minnesota. The Star Tribune Top Workplaces special section was published in the Star Tribune on Sunday, June 17. The […]

Fitch Affirms American Equity's Ratings; Outlook Stable

{June 19th, 2012} by N/A

Business   Wire, Inc. CHICAGO–(BUSINESS WIRE)– Fitch Ratings has affirmed the Issuer Default Rating (IDR) of American Equity Investment Life Holding Company (AEL) at ‘BB+’ and the Insurer Financial Strength (IFS) ratings of its insurance operating subsidiaries: American Equity Investment Life Insurance Company(AEILIC) and American Equity Investment Life Insurance Companyof New York, at ‘BBB+’. The […]

Advisors Look To Build Expertise In Retirement Income

{June 19th, 2012} by Margarida Correia

Margarida Correia Advisors are more committed than ever to helping clients with their retirement income planning but they face a host of challenges, including not knowing where to go to build their knowledge of retirement planning. In its most recent quarterly survey of financial advisors, Russell Investments found that advisors are dedicating more time to […]

Annuities as Dementia Insurance

{June 18th, 2012} by Anne Tergesen

May 17, 2012, 9:41 AM By Anne Tergesen Here’s an often overlooked reason to use annuities in your retirement portfolio: To prevent yourself from making mistakes in the event that you become cognitively impaired. “The average person in his or her mid-80s has between mild and moderate dementia,” says Daniel Laibson, a professor of economics […]

Study: Elder Financial Abuse on the Rise

{June 18th, 2012} by Maria Wood

By Maria Wood June 15, 2012 • In a recent poll, a majority of financial experts, medical professionals and social workers agreed that financial abuse and investment fraud aimed at the elderly is a worsening problem in the U.S. The survey was conducted by Investor Protection Trust (IPT), a nonprofit group dedicated to educating consumers […]

Carriers bet on life insurance in place of annuities

{June 18th, 2012} by Darla Mercado

By Darla Mercado June 17, 2012 With low interest rates and volatile equity markets slowing annuity sales, insurance companies think that life insurance will be their next hot revenue generator. And they expect financial advisers to help carry out their plans. “The huge consumer need [for life insurance] matches up with the growth part of […]

The Black Box Changing Life Underwriting

{June 18th, 2012} by Linda Koco

By Linda Koco InsuranceNewsNet ANAHEIM, Calif. – “Predictive modeling” is coming to life underwriting, and while it may help reduce underwriting costs, the approach may be confusing to clients or even a touch scary, says a long time underwriter. Advisors will therefore need to be ready to educate on this. Predictive modeling refers to systematic […]

Annuity Disclosures: Changes May Be Coming to a State Near You

{June 17th, 2012} by Kathy Donovan

By Kathy Donovan June 11, 2012 • The current version of the NAIC’s Annuity Disclosure Model Regulation (Model 245), revised last year, has as its stated purpose to “specify the minimum information which must be disclosed, the method for disclosing it and the use and content of illustrations, if used, in connection with the sale […]

Former Zurich North America Executive Gilway to Head Florida’s Citizens

{June 17th, 2012} by N/A

June 14, 2012 Florida’s state-backed homeowners insurer has reached into the private sector for its new president, selecting an experienced insurance executive and consultant. The Citizens Property Insurance Corp. board of governors yesterday unanimously selected Barry J. Gilway as president to lead the insurer that is looking to raise its rates and lower it policyholder […]

It's Risky Business for Male Baby Boomers

{June 17th, 2012} by Daniel Williams

By Daniel Williams June 13, 2012 •   Tom Cruise is not the only male baby boomer willing to dabble in a little “risky business.” According to a recent study, boomer men like walking on a fine line that offers bigger rewards. And a bigger fall down. Click here to read more…

Q1 Annuity Sales Slump: Here to Stay or Gone Tomorrow?

{June 17th, 2012} by Maria Wood

By Maria Wood June 14, 2012 • First-quarter stats are in and the numbers indicate that overall annuity sales took a step backward from the fourth quarter of 2011. Though there are some bright spots‑income and indexed annuity sales are performing somewhat better‑the industry overall has been dinged by broader market forces, namely low interest […]

Annuity Plus Life Insurance Equal a Powerful Retirement Income Strategy

{June 17th, 2012} by Linda Koco

By Linda Koco AnnuityNews ANAHEIM, Calif. – Older clients with liquid assets and a desire to reduce estate taxes may want to consider buying a guaranteed income annuity partnered up with a life insurance policy. That was the suggestion from John W. Homer, president of Oxford Financial Group. He outlined several strategies for doing that […]

Dressander & Associates and BHC Marketing Launch Expanded, Enhanced Top Producer Program

{June 17th, 2012} by N/A

press release June 13, 2012, 12:58 p.m. EDT NAPERVILLE, IL, Jun 13, 2012 (MARKETWIRE via COMTEX) — Dressander & Associates and BHC Marketing, two leading independent marketing organizations (IMO) affiliated with the Futurity First Insurance Group family of companies, have launched Elite MVP Awards, an enhanced, comprehensive top producer program. This expanded program offers some […]

Northwestern Mutual: Women Cautiously Take Control of Finances

{June 17th, 2012} by Michael K. Stanley

By Michael K. Stanley June 13, 2012 •   Currently, women are starting businesses at twice the rate of men, they are more likely to graduate from college and hold a graduate degree and, in many cases, they are the principal decision-makers of household finances. Yet, and perhaps because of the strides women have made, […]

4 Habits That Increase Life Insurance Sales Activity

{June 17th, 2012} by Steven J. Spector

By Steven J. Spector June 7, 2012 • Back in November 1994, I wrote an article for Life Association News magazine entitled, “Success Starts at 100 Lives per Year.” At the time, I had been in the life insurance business with Northwestern Mutual for 13 years. In the article, I discussed the importance of writing […]

Bankers Life: More than 9 in 10 Retirees Flag Importance of Saving for Retirement Early

{June 17th, 2012} by Warren S. Hersch

By Warren S. Hersch June 8, 2012 • Nearly 4 in 10 retirees say that saving more money for retirement is the most importance advice they could impart to young people, according to a new report. Bankers Life and Casualty Company Center for a Secure Retirement, Chicago, published this finding in a summary of results […]

A shift to retirement readiness occurring in 401(k) plans

{June 17th, 2012} by Mary Beth Franklin

Guaranteed-income benefits becoming more popular in target date funds June 10, 2012 So your clients think they are going to work longer and retire later? Maybe not. With America’s workforce graying, many employers are starting to examine the high costs of keeping older workers on the payroll. In short, if older workers can’t afford to […]

American Equity's CEO on leave of absence

{June 17th, 2012} by N/A

The annuities seller says Wendy Waugaman’s family deserves privacy. 11:21 PM, Jun 8, 2012   |   American Equity Investment Life Holding Co.’s CEO and president will take a medical leave of absence, effective immediately, the company announced Friday. The company did not disclose any further information about the health of Wendy Waugaman, 51, who has been […]

State Insurance Department Budgets Slip for Fiscal Year 2013: NAIC

{June 17th, 2012} by Elizabeth Festa

By Elizabeth Festa June 7, 2012 • At a time when there is increased public, Congressional, federal and international attention and involvement in insurance regulation on federal healthcare reform implementation and sweeping financial stability reforms, state insurance department budgets for fiscal year 2013 are expected to fall by 3.2% from 2012 amounts, and to decrease […]

Seniors Want a Trusted Advisor

{June 17th, 2012} by Daniel Williams

By Daniel Williams June 7, 2012 • If I hadn’t already spoiled it in the headline, what would you say the number one thing is that seniors look for in an advisor? Is trust the first thing that comes to mind? According to the 2012 Senior Survey, “trust” was once again the resounding answer to […]

IRI: Annuity Sales Dip Slightly in Q1

{June 17th, 2012} by Maria Wood

By Maria Wood June 7, 2012 • Total U.S. annuity sales were down slightly in first quarter in comparison to the fourth quarter of 2011. However, indexed and income annuities showed growth year-over-year, reports the Insured Retirement Institute (IRI), citing statistics from Morningstar and Beacon Research. Industry-wide, annuity sales in Q1 reached $53.1 billion, a […]

Will Retiring Baby Boomers Crash the Stock Market?

{June 17th, 2012} by Paula Aven Gladych

By Paula Aven Gladych June 6, 2012 •   The idea that the baby boomers — who began retiring in droves in 2011 — will eventually crash the stock market has been going around for years. But will it actually happen? Cathy Pareto, president of Cathy Pareto & Associates, a wealth management firm in Miami, […]

Hit the Gas

{June 17th, 2012} by Warren S. Hersch

Are contingent deferred annuities getting in gear or just spinning their wheels? By Warren S. Hersch May 31, 2012 • The recent debate among state insurance commissioners as to the regulatory status of contingent deferred annuities has focused advisors’ attention on new solutions that, if demand takes off, could significantly boost the market for insurance […]

The Power of Peer Pressure

{June 17th, 2012} by Corey Dahl

By Corey Dahl June 5, 2012 • In this week’s issue of Time magazine, there’s an article about a weight loss program evangelical pastor Rick Warren — of Saddleback Church and “A Purpose Driven Life” fame — has started for his congregants. The plan itself isn’t anything revolutionary — a combination of eating right and […]

Goldman Sachs Names New Global Head of Insurance Relationships

{June 17th, 2012} by Noah Guillaume

ALSO: Industry news from American National Life, Aflac, Aetna, California Dept. of Health Care Services & Creative Marketing By Noah Guillaume June 6, 2012 • Goldman Sachs Asset Management, L.P. has hired Robert Goodman as managing director, Global Head of Insurance Relationships, a new position in its Insurance Asset Management business. Goodman will lead new […]

Minn. Governor Vetoes Annuities Bill to Protect Reverse Mortgage Borrowers

{June 17th, 2012} by Erin Hegarty

June 5th, 2012  |  A bill seeking to amend how annuity sales are regulated was recently vetoed by Governor Mark Dayton (D-Minn.), who said it would not offer enough protections to senior consumers, including reverse mortgage borrowers. While the cross-sale of reverse mortgages and other financial products has been banned to protect seniors from purchasing […]

Rules of Thumb Can Smother Options

{June 17th, 2012} by Linda Koco

By Linda Koco AnnuityNews Many advisors and planners have decided that they must never recommend putting 30 percent or more of a client’s liquid assets into annuities. It’s a rule of thumb that advisors use to help keep clients well diversified. It also helps insulate the advisor against accusations that they are pushing annuities onto […]

Variable Annuity Net Assets Reach All-Time High

{June 17th, 2012} by N/A

  Income and Indexed Annuity First-Quarter Sales Experience Year-Over-Year Growth Morningstar and Beacon Research Data Show Slight Dip in Quarter-to-Quarter Industry-Wide Sales WASHINGTON, D.C. June 7, 2012 – The Insured Retirement Institute (IRI) today announced final first quarter 2012 sales results for the United States annuity industry, based on data reported by Morningstar, Inc. and […]

Annuity Sales Slip

{June 17th, 2012} by Justin Stephani

Justin Stephani Industry-wide first quarter annuity sales reached $53.1 billion, which is down about 2.5 percent from $54.5 billion the previous quarter, according to the Insured Retirement Institute. The IRI today announced final first quarter 2012 sales results for the U.S. annuity industry based on data reported by Morningstar Inc. and Beacon Research. Variable annuity […]

National Life Group Honors Four Outstanding Educators

{June 16th, 2012} by N/A

June 5, 2012 Financial Services Company Announces Its LifeChangers of the Year Montpelier, Vermont – Educators in California, Florida, Texas and Oklahoma have been named LifeChangers of the Year under a new program by National Life Group that recognizes outstanding educators, administrators and school district employees who work in k-12 schools across the country. “These […]

Finra under fire

{June 16th, 2012} by Dan Jamieson and Mark Schoeff Jr.

By Dan Jamieson and Mark Schoeff Jr. June 3, 2012 With Congress about to take up legislation that would shift oversight of investment advisers from the Securities and Exchange Commission to an industry organization, the agency that wants to fill that role — Finra — has come under fire from a government watchdog. Last Wednesday, […]

Working with Seniors: Make Sure They Understand Annuities

{June 16th, 2012} by Marc Silverman

By Marc Silverman, CLU, ChFC June 5, 2012 •   Working with senior clients to ensure the longevity of their finances can become a complex task for any advisor. Pairing seniors and annuities is sometimes a no-brainer; however, other times we must ask ourselves if annuities are really the right product for our client. Our […]

Aviva Survey Identifies Strong Link Between High Stress Levels and Weight Gain

{June 16th, 2012} by Warren S. Hersch

By Warren S. Hersch June 5, 2012 • A new survey finds a strong correlation between high levels of stress and weight gain among U.S. males. Aviva U.S.A., Des Moines, Iowa, published this finding in a summary of results from an April 2012 online survey of 2,068 adults aged 18 and older. Aviva conducted the […]

PolicyBox Gearing Up to Deliver Annuity Prospectuses Electronically

{June 16th, 2012} by N/A

PRWeb Tuesday, June 5th 2012 Aplifi’s PolicyBox platform is set to make a major beneficial impact on how annuity prospectuses are delivered. Delivering annuity prospectuses electronically dramatically saves costs and reduces regulatory concerns. Pompano Beach, FL (PRWEB) June 05, 2012 Aplifi, a leading provider of Life & Annuity Order Management, Client Management and Electronic Document […]

The Phoenix Companies Launches Protected Solutions Annuity

{June 16th, 2012} by N/A

press release June 4, 2012, 10:00 a.m. EDT New Annuity Brings Chronic Care Protection with Death Benefit Options to the Indexed Marketplace HARTFORD, Conn., Jun 04, 2012 (BUSINESS WIRE) — The Phoenix Companies, Inc. /quotes/zigman/281685/quotes/nls/pnx PNX +6.40% today announced the introduction of the Protected Solutions Annuity, the newest offering developed through its strategic alliance with […]

GM to Shift White-Collar Pensions to Annuity

{June 16th, 2012} by Tom Krisher

Will more companies follow suit? By Tom Krisher, AP Auto Writer June 4, 2012 • DETROIT (AP)—General Motors Co. will change the way it makes pension payments to white-collar retirees, shoring up its finances by offering buyouts and shifting liabilities to an annuity. The moves will unload $26 billion in pension liabilities from the Detroit […]

Sell Annuities? Compare Them to Social Security.

{June 16th, 2012} by Shawn Sparks

By Shawn Sparks June 4, 2012 • By positioning annuities, and the benefits they offer, in the same way retirees understand and view Social Security your sales will skyrocket. Let’s take a look at the psychology of the retiree and how they view Social Security, and more importantly, what they don’t think about when thinking […]

GM's salaried retirees balk at uninsured annuities offer

{June 16th, 2012} by Nathan Bomey

By Nathan Bomey, Detroit Free Press DETROIT — A group representing General Motors‘ 118,000 salaried retirees blasted the automaker’s plan to convert pension payments into equivalent monthly annuity checks that won’t be insured by a federal authority. General Motors Retirees Association President Jim Shepherd, in a June 13 letter to GM Chief Executive Dan Akerson, […]

Axa looks to terminate 'costly' VA death benefits with swap deal

{June 15th, 2012} by Darla Mercado

Aims to offer clients a hike in account value if they agree to cancel generous rider; ‘floodgates will open on this’ By Darla Mercado June 14, 2012 Axa Equitable Life Insurance Co. has filed to offer certain variable annuity clients the chance to terminate their death benefit rider in exchange for a higher account value. […]

Nick Gerhart named new Iowa Insurance Commissioner

{June 15th, 2012} by N/A

June 14, 2012 Gov. Terry E. Branstad today named Nick Gerhart as the new Iowa Insurance Commissioner. Gerhart will begin work within the department this fall, and will fully assume responsibilities from current director Susan Voss at the end of this calendar year. “I want to thank Susan Voss for her great service to the […]

The Society for Annuity Facts & Education (SAFE), Inc. Launches Educational Initiative Focused on Annuity Awareness

{June 13th, 2012} by N/A

June 12, 2012 // Featured, Home, Press Release Milwaukee, WI (June 12, 2012) – The Society for Annuity Facts & Education (SAFE), Inc. officially filed for 501(c)3 status as it embarked on its mission to raise awareness and provide the public with reliable information about annuities. “With retirement savings nearing all-time lows, people living longer […]

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Before You Sell That 7-Year Annuity…

{June 11th, 2012} by Sheryl J. Moore

By Sheryl J. Moore May 30, 2012 • One of the biggest pieces of state regulation that I have fought against for the past decade is the 70/10 regulation. Known to the masses as the “10/10 Rule,” this anti-competitive rule limits surrender charges on fixed and indexed annuities to no more than a 10-year period, […]

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Sell Only Variable Annuities? Plans Change, and so Should You.

{June 11th, 2012} by Sheryl J. Moore

By Sheryl J. Moore March 29, 2012 • What are the possibilities that your clients will use their annuities for purposes other than what you discussed at point-of-sale? This question should be of particular interest to agents who sell their clients only variable annuities (VAs). If I had a dollar for every time a “VA […]

ACLI Supports Expanded Availability of Longevity Annuities

{June 3rd, 2012} by N/A

Targeted News Service WASHINGTON, June 1– The American Council of Life Insurersissued the following news release: The American Council of Life Insurers (ACLI) today thanked the Treasury Department and the Internal Revenue Service for proposing a rule aimed at making it easier for retirees to achieve guaranteed lifetime income. The proposed rule would allow participants […]

Property owners told to be wary of annuities

{June 3rd, 2012} by Burton Speakman

Saturday, June 2, 2012 By Burton Speakman bspeakman@vindy.com Youngstown Those who have received oil and gas lease payments throughout the Valley are being contacted about an investment plan that local attorneys believe could be hazardous. There have been multiple groups pushing annuities to people who have received lease payments, said George Millich, a Youngstown attorney […]

Prudential Plc Through its Wholly-Owned Subsidiary Jackson National Life to Acquire the US Holding Company of REALIC for Pounds398M

{June 3rd, 2012} by N/A

Targeted News Service LONDON, May 31 — Prudential issued the following news release: On 30 May 2012, Jackson National Life Insurance Company (“Jackson”), an indirect wholly-owned subsidiary of Prudential plc (“Prudential”), entered into an agreement to buy SRLC America Holding Corp (“SRLC”) from Swiss Re. Jackson will pay US$621 million (Pounds398 million) in cash for […]

Morningstar: Variable Annuity Sales Up 12% in 2011

{June 1st, 2012} by Maria Wood

By Maria Wood May 30, 2012 • Despite ongoing consolidation in the variable annuity industry, sales of new VAs in 2011 rose over 2010 levels, reports Morningstar. Based on numbers from Q4 2011, the most recent statistics available, new variable annuity sales totaled $153.4 billion last year, or 12.3% above the $136.6 billion in new […]

American Equity Announces Redemption of Trust Preferred Securities

{June 1st, 2012} by N/A

press release May 31, 2012, 4:00 p.m. EDT WEST DES MOINES, Iowa, May 31, 2012 (BUSINESS WIRE) — American Equity Investment Life Holding Company /quotes/zigman/336733/quotes/nls/ael AEL +0.44% , a leading underwriter of index and fixed rate annuities, announced today that it has issued a notice of mandatory redemption of all of its 8% Convertible Junior […]

401(k) rollover? An annuity that captures gains, not losses

{June 1st, 2012} by Susan L. Moore Vault

Susan L. Moore Vault | Posted: Friday, June 1, 2012 12:15 am We have our 401(k)s in the market — stocks, bonds, mutual funds — for one of three reasons: 1. We love the market. 2. We are not given any other options. 3. We don’t know a better way to go. The market provides […]

Prudential signs pension transfer agreement with General Motors Co.

{June 1st, 2012} by Dawn Kelly

press release June 1, 2012, 1:05 p.m. EDT NEWARK, N.J., Jun 01, 2012 (BUSINESS WIRE) — The Prudential Insurance Company of America, a Prudential Financial, Inc. company [NYSE:PRU], has signed an agreement with General Motors Co. that will allow Prudential to assume certain salaried retiree benefit obligations as part of GM’s plan to reduce pension […]

John Hancock Appoints New Head Of Life Insurance Unit

{June 1st, 2012} by N/A

PR Newswire Association LLC BOSTON, May 30, 2012/PRNewswire/ — Michael Doughtyhas been named Executive Vice President and General Managerof U.S. Life Insurance, John Hancock PresidentJim Boylesaid today. Mr. Doughty, whose appointment is effective immediately, replaces Steve Finch who has assumed the role of Chief Financial Officer for John Hancock. John Hancock is the U.S. division […]

Jackson National to buy Swiss Re's U.S. life business

{June 1st, 2012} by Liz Skinner

$621M purchase will diversify earnings from annuities book By Liz Skinner May 31, 2012 Jackson National Life Insurance Co. will pay $621 million in cash for the life insurance assets of Swiss Re Group’s American division to boost its scale in that business and further diversify earnings from its primary annuity business. The deal will […]

New York Actuaries Chime in on Net Premium Reserving

{June 1st, 2012} by Elizabeth Festa

Conference call is held on creating a manual for principles-based reserving By Elizabeth Festa May 24, 2012 • The NAIC’s Life Actuarial Task Force (LATF) of the Life Insurance and Annuities (A) Committee debated net reserving methodology changes proposed by the American Council of Life Insurers (ACLI) today for universal life insurance products with secondary […]

TEXT-S&P raises Fidelity & Guaranty Insurance to 'BB'

{June 1st, 2012} by N/A

Wed May 30, 2012 2:25pm EDT Overview            — Fidelity & Guaranty Life Insurance Co.’s (FGLIC’s) 2011 statutory   results showed continued positive trends from 2010, with strengthened       capitalization.             — Under its new parent company, Harbinger Group Inc., FGLIC has       continued to derisk its investment portfolio.      — As a result, we […]

Twitter 101: Prospecting For Annuity Business

{June 1st, 2012} by B. Scott Minor

Posted By: Editor On 5/30/2012 9:00:00 PM By B. Scott Minor AnnuityNews If you’ve worked in the insurance industry for many years, you’ve witnessed the drastic changes in how to find and keep customers. Twitter, for example, is one of the many revolutionary social media outlets that you can use to discover top prospects. First, […]

Allianz and Western Union Sign MOU

{June 1st, 2012} by N/A

Posted By: Editor On 5/29/2012 12:17:51 PM Allianz SEandWestern Union Companyhave signed a Memorandum of Understanding to develop, design and distribute insurance products in several countries around the world. According to a release,AllianzandWestern Unionwill work closely over the next year to develop solutions for customer needs within each of the companies’ networks, which together reach […]

The Annuity Defined … Really?

{June 1st, 2012} by Linda Koco

Posted By: Editor On 5/30/2012 1:01:00 PM By Linda Koco AnnuityNews What is an annuity? Advisors run into that question a lot. Despite the fact that annuities have been around for years, many consumers just don’t get it. That lack of understanding gets in the way of good retirement income planning. If people don’t know […]

Taming a Bear

{June 1st, 2012} by Ron Adams

By Ron Adams Published May 29, 2012 Years ago I trained animals for television and performed stunt work for movies. There were a few movies where you may have seen my face, but I was mostly a stunt double or behind the scenes animal trainer. I worked with the bear you knew as Ben in […]

Aviva: What to Expect When You're Expecting…

{June 1st, 2012} by Michael Ham

By Michael Ham May 24, 2012 • After the much ballyhooed delivery of Facebook to the public, it appears that “Mr. Market” is still the wisest investor on the planet. Warren Buffett defines Mr. Market as;  “Mr. Market quotes a price at which he is willing to either buy your interest or sell you his.  Mr. […]

Lincoln Financial Group Announces New York Availability of Lincoln LifeReserve® Indexed UL Accumulator

{June 1st, 2012} by N/A

press release May 29, 2012, 9:00 a.m. EDT Lincoln LifeReserve® IUL Accumulator offers New York consumers death benefit protection with asset accumulation potential and distribution options. RADNOR, Pa., May 29, 2012 /PRNewswire via COMTEX/ — Lincoln Financial Group /quotes/zigman/232274/quotes/nls/lnc LNC -0.63% today announced that the Lincoln LifeReserve® Indexed UL (IUL) Accumulator life product is now […]

LIMRA: Individual Life Sales Improve in First Quarter of 2012

{June 1st, 2012} by Warren S. Hersch

By Warren S. Hersch May 29, 2012 •   Total individual life insurance premium grew 3% in the first quarter of 2012 compared to the prior year, according to a new report. LIMRA, Windsor, Conn., published this finding in a summary of results from a survey of U.S. life insurance sales trends. The report reveals […]

Selling Annuities in a Low Interest Rate Environment

{June 1st, 2012} by Brian Mann

Click here to read the article.

Elderly clients convicted of kidnapping, beating adviser

{June 1st, 2012} by IN Staff

‘Geritol Gang’ abducted financial adviser, held him hostage in a basement; reportedly upset at $3.6M loss in real estate By IN Staff May 29, 2012 Four German senior citizens were convicted and sentenced last week of kidnapping and beating their financial adviser. The four individuals, who range in age from 61 to 80, bound and […]

Financial Advisors Rarely Offer Life Insurance

{June 1st, 2012} by N/A

Proquest LLC Financial advisors often miss the opportunity to speak to their clients about the important role life insurance products can play in financial planning, according to a recent survey conducted bySaybrus Partners, Inc. According to a release, the survey found that more than half (56 percent) of financial advisors do not speak regularly to […]

The Wharton School Announces New Risk And Insurance Program

{June 1st, 2012} by N/A

PR Web Philadelphia, PA(PRWEB) May 21, 2012 The Wharton School of the University of Pennsylvania announced today that it has established a new Wharton/Penn Risk and Insurance Program (WPRIP). The Program’s goal is to promote and disseminate cutting-edge research on risk and insurance at the University of Pennsylvania. Drawing on the University of Pennsylvania’s world-class […]

The Fed Unloads More AIG Maiden Lane III Bonds

{June 1st, 2012} by Arthur D. Postal

By Arthur D. Postal May 25, 2012 • The Federal Reserve Bank of New York was successful again Thursday in selling to the market more of American International Group’s (AIG) most speculative assets. The Fed announced that Citigroup had purchased $1.67 billion in residential mortgage-backed securities (MBS) that the U.S. acquired from AIG in 2008 […]

What Seniors Like Best About Their Advisors

{June 1st, 2012} by Daniel Williams

By Daniel Williams May 23, 2012 • Enough already with all the news about how advisors are doing the wrong thing. Why don’t we hear what clients like about their advisors for a change? Does that sound like a good plan? To get that information, we canvassed hundreds of senior clients in a recent survey […]

Louisiana Gives State Insurance Department Access to Expunged Arrest Records

{June 1st, 2012} by Michael Buck

Michael Buck The Louisiana Legislaturethinks the state’s Department of Insuranceshould have access to criminal arrest records that have been expunged. The House on Wednesday passed Senate Bill 213, which gives the department access to the records. The bill passed the state Senate in March. The state allows a number of state agencies in the legal […]

Survey: For 1 in 5 Americans, Monthly Spending Exceeds Income

{June 1st, 2012} by Warren Hersch

By Warren S. Hersch May 25, 2012 •   One in every five Americans is not making ends meet, according to a new study. Country Financial, Bloomington, Ill., published this finding in a summary of results from a national telephone survey of 3,000 Americans. The results were compiled by the research firm Rasmussen Reports, LLC, […]

Weiss Ratings: Profits Drop 84% at Largest Life and Annuity Insurers

{June 1st, 2012} by Maria Wood

By Maria Wood May 25, 2012 • Weiss Ratings, a Jupiter, Fla.-based independent rating agency of U.S. insurance companies and financial institutions, found that profits at the 20 largest life and annuity insurers in the U.S. decreased by 84% in 2011, going from $14.8 billion to $2.4 billion. Those 20 companies account for 54% of […]

Top 50 Annuities

{June 1st, 2012} by Karen Hube

SATURDAY, MAY 26, 2012 By KAREN HUBE  Americans are eager to lock in steady retirement income. We pick the best annuities from a dizzying array of choices. When wealth manager Peter D’Arruda talks about the “old days” for annuities, he isn’t talking about the Roman Empire, where these income-generating insurance products were invented and payments […]

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