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Archive for August 2014

Tom Anfuso Appointed Senior Vice President & CIO at National Life Group

{August 29th, 2014} by National Life Group

Montpelier, Vermont – August 26, 2014 – National Life Group has appointed Tom Anfuso as a senior vice president and chief information officer. Anfuso oversees all information technology operations for the company, as well as overall IT strategy. “Tom is a seasoned IT professional with strong business acumen and deep industry experience,” said Mehran Assadi, […]

13 negotiating techniques taught at the Wharton School of Business

{August 29th, 2014} by Daniel Williams

Everything is open for negotiation—even prices, schedules, and product offerings that seem carved in stone. Steven G. Blum, who teaches at the Wharton School of Business, says no one has to just accept what’s offered…but first you must hone your negotiating skills. Blum is author of Negotiating Your Investments: Use Proven Negotiation Methods to Enrich […]

Prudential Plc builds U.S. annuity lead with $12.7 billion sales

{August 29th, 2014} by Zachary Tracer

(Bloomberg) — Prudential Plc, the largest U.K. insurer by market value, extended its lead in U.S. variable annuity sales at its Jackson National Life unit as rivals scaled back. Jackson sold $12.7 billion of the retirement contracts in the first six months of 2014, an increase of 24 percent from a year earlier, according to […]

What Keeps Advisors Awake At Night?

{August 29th, 2014} by Cyril Tuohy

Market declines, a shaky economy and regulatory issues are the top three worries keeping financial advisors up at night, according to a recent survey. Advisors are also concerned about misinformation, client fears and emotions, and not having enough time to get work done. Those findings are contained in the Principal Financial Well-Being Index, released this […]

Investors Better Prepared for Retirement, Still Lacking Financial Knowledge

{August 29th, 2014} by Targeted News Service

WASHINGTON, Aug. 20 — The Insured Retirement Institute issued the following news release: The Insured Retirement Institute (IRI) today released a new report showing that investors – those with at least $25,000 in investable assets – are better prepared for retirement compared to the broader population, but are still lacking knowledge regarding specific financial products. […]

Women Showing Greater Commitment To Retirement Savings

{August 29th, 2014} by PR Newswire Association LLC

ENFIELD, Conn., Aug. 27, 2014 /PRNewswire/ — Women have long trailed men when it comes to retirement savings but new data from MassMutual Retirement Services shows that women are responding to the challenge and are closing the gap. Data from marketing campaigns and employer-sponsored retirement plans shows that women are responding more favorably than men […]

Is MetLife a SIFI?

{August 29th, 2014} by Nick Thornton

The Financial Stability Oversight Council will meet Sept. 4 in a closed session to identify non-bank financial institutions that may be designated as systemically important financial institutions. Established by Dodd-Frank Wall Street Reform and the Consumer Protection Act, the FSOC is charged with monitoring the U.S. financial system, identifying systemic risks to market stability, and […]

How the top 10 publicly held life insurers performed last week

{August 29th, 2014} by Warren S. Hersch

This week LifeHealthPro reviews the stock performance of 10 leading publicly held life insurers — AIG, MetLife, Prudential Financial, among others — and provides context by highlighted key macroeconomic and industry developments during the week. The 10 companies are the same as those featured in an August 21 LifeHealthPro story listing the top 10 life […]

Why I hate false advertising (and Ken Fisher): OPINION

{August 28th, 2014} by Michael D. Anderson

You could open any 1914 merchandise mail order catalog and read some pretty fantastic claims about just about every product described. One hundred years ago, the first meaningful regulation by the Federal Trade Commission was put in force. It seems the FTC anti-trust legislation passed that year also interpreted its mandate to include regulation pertaining […]

The Roth 401(k) vs the IUL

{August 28th, 2014} by David McKnight

Ever take an IUL application on Friday afternoon only to get a voice message from your prospect on Monday morning saying he’s had a change of heart? Over the weekend he researched what the online “gurus” had to say about IUL and, based on his findings, he’s not too eager to proceed. If you’re in […]

4 things the annuity industry can do today

{August 28th, 2014} by Gerry Murtagh, John Thelen

The last several years have been very turbulent for the individual annuity industry, especially for traditional insurance providers and the advisor community. Coming out of the financial crisis of 2008, lingering low interest rates, non-traditional new market entrants (including private equity firms and start-ups) and changing regulatory requirements have proved extremely challenging. Significant shifts of […]

Brother, Can You Spare A Million? Opinion

{August 28th, 2014} by Susan Rupe

It comes as quite a shock to me to realize that the oldest members of Generation X will hit the big 5–0 next year. The 50th birthday celebration means that senior discounts are right around the corner, followed by retirement. Gen X is realizing that as they are closing in on retirement, they also are […]

The insanity in indexed annuity sales growth

{August 28th, 2014} by Kevin Startt

If the definition of insanity is continuing to do the same thing over and over and expecting different results, then Einstein would have to challenge the hypothesis today of many indexed annuity (FIA) and indexed life sales (IUL) agents. After $39 billion of FIA sales this past year and much of the $100 billion in […]

Survey: Nearly 8 in 10 workers expect to retire past age 65

{August 28th, 2014} by Warren S. Hersch

Working adults ages 60-plus are more pessimistic than younger colleagues that they will be able to retire by age 65, according to new research. So reports Northwestern Mutual in its annual “2014 Planning and Progress Study: Talking Money & Retirement.” Based on a survey of 2,092 U.S. adults ages 18 and older, the survey aims […]

The Principal Financial Well-Being IndexSM: Advisors

{August 28th, 2014} by The Principal Financial Well-BeingSM

Even though advisors say their financial health is on the up-and-up, they may not be reaching Gen Y clients, according to new research from The Principal Knowledge Center. Key findings include: Gen (wh)Y Only 18 percent of financial advisors surveyed are targeting Gen Y clients. Only 30 percent of American workers overall work with a […]

Merger and acquisition activity pushes life/annuity stocks higher in second quarter: A.M. Best

{August 27th, 2014} by IFAwebnews Staff

Following a 2.5% decline in the first quarter of 2014, life and annuity insurance carrier stocks rose 4.3% in the second quarter versus a 4.7% rise in the S&P 500 stock index, according to a special report from A.M. Best. Seventeen of the 24 stocks tracked for this analysis rose in the quarter, eight of […]

Roundup: New York Life leads Million Dollar Round Table for 60th consecutive year

{August 27th, 2014} by Lynette Gil

New York Life has dominated the Million Dollar Round Table (MDRT) in the United States for the 60th consecutive year, with 2,376 qualifying New York Life agents in 2014. MDRT granted membership to only 10,211 agents in the entire United States, making membership in this organization a distinguishing life insurance career milestone for those demonstrating […]

Wanted: Financial Advisors For Generation X

{August 27th, 2014} by Cyril Tuohy

It’s back-to-school season, so it’s a good time to talk about how agents and financial advisors can attract and train a new generation of talent to an industry that, as almost everyone knows, is in desperate need of new blood. The average financial advisor is in his 50s and that average age is rising. Only […]

Why Do Americans Find It So Hard To Talk About Money?

{August 27th, 2014} by PR Newswire Association LLC

MILWAUKEE, Aug. 27, 2014 /PRNewswire/ — When it comes to conversation, Americans would rather talk about their own death and the birds and the bees instead of talking with friends and family about money, and that more than two in five Americans have not spoken to anyone about their retirement. Those findings are highlighted in […]

Closer Look At 2Q Reveals Humdrum Insurance Industry Performance

{August 27th, 2014} by Cyril Tuohy

A cursory look at life insurers’ profits in the second quarter would have you believe that the industry is making money hand over fist, but a closer look reveals accounting issues and foreign exchange rates were behind the gains, according to an industry analyst. A group of 19 publicly traded life insurance underwriters followed by […]

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Wink, Inc. Releases Second Quarter, 2014 Indexed Sales Results

{August 27th, 2014} by Wink, Inc.

 — FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE   INDEXED ANNUITY SALES DOMINATE WITH RECORD-SETTING QUARTER! Wink, Inc. Releases Second Quarter, 2014 Indexed Sales Results Pleasant Hill, Iowa. August 21, 2014- Forty-five indexed annuity carriers participated in the 68th edition of Wink’s Sales & Market Report, representing 99.8% of indexed annuity production. Total second quarter sales were […]

Wink CEO: Increased Sales of Proprietary Products Help Boost 2Q US Sales of Indexed Annuities

{August 27th, 2014} by Fran Matso Lysiak

PLEASANT HILL, Iowa – Increased sales of proprietary products specifically helped to boost sales of indexed annuities in the second quarter of 2014, says the chief executive officer of Wink Inc. Total second-quarter sales of these retirement savings and income products in the United States increased to $12.6 billion, a 36.5% gain from the same […]

Annuity sales, a major Des Moines industry, see Q2 bump

{August 27th, 2014} by Matthew Patane

A major contributor to the Des Moines area’s insurance hub saw sales rise 36.5 percent in April, May and June compared with a year ago. Sales of indexed annuities from 39 companies grew to $12.6 billion in the second quarter, according to a new Wink’s Sales & Market Report. Indexed annuities are popular among retirees […]

How to help your clients win the “longevity lotto”

{August 26th, 2014} by Susan Wright

Any reliable structure needs to have a solid foundation to withstand the test of time. As financial professionals, advice is regularly given to clients about the essentials of having a strong foundation for their savings and investments during the accumulation phase of life. This is very good advice. Click here to read…

Millennials Least Likely To Have Insurance: Opinion

{August 26th, 2014} by Susan Rupe

They’re saddled with debt, underemployed and think they’ll live forever. At least, those are the stereotypes about Generation Y, also known as the millennials. A new insuranceQuotes​.com report shows that the millennials are not only lacking in financial assets, they also are lacking insurance. Approximately one in four Americans between the ages of 18 and […]

No summer break for SEC as agency revs up exam pace

{August 26th, 2014} by Mark Schoeff Jr.

Securities and Exchange Commission examiners haven’t slowed down during the dog days of summer, according to compliance consultants who attribute the uptick in the SEC exam pace to the agency’s focus on registered investment advisers who have never been examined. At the beginning of the year, the SEC launched a program to target about 1,000 […]

What U.S. life insurance agents can learn from China

{August 25th, 2014} by Lori Widmer

According to a recent Society of Actuaries (SOA) study, the Chinese life insurance market is on fire. In 2010, life insurance premiums in China rang in at a cool $142,792 million, representing a 28.1 percent spike in sales since 2006. In a country where talk of death is taboo, life insurance sales are growing at […]

Randi Zuckerberg: The 10 most exciting trends in social media

{August 22nd, 2014} by Emily Holbrook

This morning at the annual LIMRA LOMA Social Media Conference for Financial Services, Randi Zuckerberg, founder and CEO of Zuckerberg Media (and sister to Facebook founder Mark Zuckerberg), shared her social media story. In 2005, when her younger brother asked her to join his startup called Facebook — as their marketing lead — Randi laughed, […]

AIG Announces QoL Performer Plus

{August 22nd, 2014} by N/A

HOUSTON, August 18, 2014 – American International Group, Inc. (NYSE: AIG) today announced the launch of QoL Performer PlusSM, affordable universal life insurance that can provide a guaranteed death benefit up to age 80. The product also offers the opportunity for cash accumulation, as well as the Quality of Life…Insurance accelerated benefit solution that can […]

A.M. Best Affirms Ratings of Sagicor Financial Corporation and Its Subsidiaries

{August 22nd, 2014} by Best's News Service

Oldwick – A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit ratings (ICR) of “a-” of Sagicor Life Inc. and Sagicor Capital Life Insurance Company Limited (both domiciled in St. Michael, Barbados). A.M. Best has also affirmed the FSR of A- (Excellent) and the ICR of “a-” of […]

MassMutual whistle-blower identified

{August 22nd, 2014} by Emily Holbrook

Bill Lloyd is 56 years old and spent 22 years as an agent for MassMutual Financial Group. Lloyd was not, as many labeled as a whistleblower are, an unsatisfied, angry employee. Quite the contrary. Lloyd loved his job and — most of all — loved his clients. That’s why he made the decision to take […]

Annuities: A love story: OPINION

{August 22nd, 2014} by Adam Cufr

How many meetings with widows will it take before you fully grasp the power of guaranteed income annuities in a retirement income plan? I am yet to meet with a widowed woman who asked me what the rate of return is on the annuities in place after the death of her husband. When she asks […]

5 common whole life myths, debunked

{August 22nd, 2014} by Thomas Smoot

Whole life insurance provides a broad range of financial benefits, and has proved its long-term value over generations. While many financial instruments faltered during the recent “Great Recession,” whole life insurance provided families and small business owners with a much-needed source of funds and retirees with access to additional income — all the while building […]

4 ways insurance agencies sabotage success

{August 22nd, 2014} by Alan G. Robinson, Dean M. Schroeder

Today’s insurance agencies are challenged as never before to keep pace with highly dynamic markets. Swiftly changing industry rules and a constant stream of new products and services mean that agencies have to be agile and responsive. Intense competition, much of it from new online channels, means costs must be continually lowered and service standards […]

9 things consumers need to know about life insurance

{August 22nd, 2014} by Emily Holbrook, Mary Shaub

Each September, Life Insurance Awareness Month provides the ideal opportunity to clear up a host of consumer misconceptions about life insurance, including the size of death benefit needed (it’s often too low), the need to extend coverage beyond what your employer provides (it’s rarely enough) and the need to communicate the details of your policy […]

Middle-Market Insureds Keep Their Life Insurance

{August 22nd, 2014} by Linda Koco

How’s this for an anomaly? Although a lot of middle-income households are either not insured or underinsured for life insurance, those who do have life insurance tend to keep it. Consider the data: LIMRA estimates that 44 million U.S. households have no life insurance, and that 35 million middle market households are underinsured. And a […]

Life insurance: a vital debt management and asset protection tool for young doctors

{August 21st, 2014} by Ike Devji

A case in a recent headline once again illustrates the importance of basic financial and estate planning for doctors, as a young medical professional’s untimely death led to her family inheriting six figures in debt.  Like most medical professionals, Lisa Mason took out loans to finance the cost of her medical education; in her case, […]

Do Consumers Want Advice Or Not: Opinion

{August 21st, 2014} by Linda Koco

Some reports rolled out this week having to do with whether and how consumers use financial and retirement advice. The long-story-short is that people do tend to use advice in investment venues but not so much in retirement plan venues such as the 401(k) market. This divergence can be confusing to insurance and financial professionals […]


Hearsay Social lets advisers pay to spread Facebook posts

{August 21st, 2014} by Trevor Hunnicutt

Hearsay Social Inc. on Thursday announced a new feature on its social media platform that integrates with Facebook, allowing advisers on the platform to pay to distribute promotional posts to a wider audience. Financial advisers and brokers on the platform will now be able to “promote” their Facebook posts or pay to have them distributed […]

Sad statistics about the state of American savings

{August 21st, 2014} by Susan Rupe

“Facts are stubborn things, but statistics are more pliable.” — Mark Twain Much of our news coverage is based upon statistics, numbers resulting from some kind of survey or study. Some statistics that made the headlines recently should make everyone take notice. More than one-third of Americans (36 percent) have no retirement savings. Even worse, […]

Moody’s: Top 10 life insurers by net income in Q2 2014

{August 21st, 2014} by Warren S. Hersch

In an August 2014 “Special Comment,” Moody’s Investors Service examines life insurers’ financial results in the second quarter of 2014 — GAAP net income, net operating, return on average shareholders’ equity, among other parameters — and explores factors contributing to the companies’ performance. Listed on the following pages are the top 10 publicly held life […]

Kristine M. Wolfe Gets NAIFA Executives Award

{August 21st, 2014} by Cyril Tuohy

The National Association of Insurance and Financial Advisors (NAIFA) has recognized Kristine M. Wolfe with the 2014 C. Carney Smith Award. The award, established in 1976, is NAIFA’s most prestigious honor for its state and local association executives and has come to symbolize lifetime achievement. NAIFA President John Nichols said Wolfe’s lifelong dedication to service […]

Can I build my own annuity?

{August 20th, 2014} by Kevin Startt

My son drove for a major pizza chain back in the day when they advertised that they could guarantee a 30-minute delivery. It was a great advertising promotion, until a couple of zealous delivery boys wrapped themselves in pepperoni around an old oak tree in front of a customer’s house. This promo begged the premise […]

WellPoint: Buying life insurance remains top priority of Americans

{August 20th, 2014} by Warren S. Hersch

Most Americans believe that selecting a life insurance policy is very important to protecting their family financially, according to a new report. WellPoint disclosed this finding in a survey of 1,005 adults, 18 years and older, the report timed for release in advance of Life Insurance Awareness Month. Held annually in September and coordinated by […]

Answers to 8 burning questions that confront the industry

{August 20th, 2014} by David Port

At the sales peaks and valleys of recent years, all the hot products and features that have burst on the scene only to be eclipsed by the next big thing, are just subplots to the real storyline in the life insurance market, one that Deloitte neatly captures in three words in the subtitle of its […]

MetLife Announces Rate Cuts To Term Life

{August 20th, 2014} by Cyril Tuohy

  MetLife, which missed its second-quarter earnings estimates, has announced rate reductions on some of its guaranteed level term insurance products as the company seeks to boost life insurance sales in an era of slow growth marked by low interest rates. Rate changes do not apply to all ages, rate classes, coverage amounts and level-premium […]

Rogue advisors on parade

{August 20th, 2014} by Harry Lew

The Securities and Exchange Commission charged a Virginia broker with defrauding elderly customers, including some who are legally blind, by stealing their funds for her personal use and falsifying their account statements to cover up her fraud. According to the SEC’s complaint, the broker siphoned $730,289 from elderly customers and used the money to pay […]


The American College Names New President And CEO

{August 20th, 2014} by InsuranceNewsNet

BRYN MAWR, PA – August 20, 2014 – The Board of Trustees of The American College of Financial Services today named Robert R. Johnson, Ph.D., CFA, CAIA, as president and chief executive officer beginning October 1, 2014. Dr. Johnson’s extensive scholarship, experience in investment management, and results in building global awareness for financial services education […]

American National Selects iPipeline AFFIRM for Annuities to Automate Advisor Selling Process

{August 20th, 2014} by Business Wire

Advisor Order-Entry Solution Provides Customized Workflows and Reviews to Support FINRA, SEC and State Compliance August 19, 2014 09:00 AM Eastern Daylight Time EXTON, Pa.–(BUSINESS WIRE)–iPipeline® – the leader in on-demand marketing, selling, and processing solutions for the nation’s top insurance carriers, distributors, financial institutions, producers, and advisors – today announced American National Insurance Company, […]

It’s just a name change, how hard could it be?

{August 20th, 2014} by Liz Skinner

ING Financial Partners’ 2,500 financial advisers have seven workdays to get ready to take on a new identity. As of Sept. 1, they’ll be Voya Financial advisers and will need new business cards, letterhead and a logo on the door. Adviser will need to make these changes individually, while ING Inc. has done many more […]

U.S. investors opt for human over online financial advice

{August 20th, 2014} by Warren S. Hersch

U.S. investors are more likely to have a dedicated financial adviser than to use a financial website for obtaining advice on investing or planning for their retirement, according to new research.  This finding is unveiled in a Wells Fargo/Gallup Investor and Retirement Optimism Index, a telephone survey conducted in June. The study polled 1,036 U.S. […]

Millennials Not Buying Life Insurance

{August 20th, 2014} by Thomas Rockford

After a survey we conducted on our site regarding millennial life insurance purchasing habits, we at Life Ant have concluded that the millennial generation is largely avoiding purchasing life insurance.  While historical purchase rates of life insurance by people in their 20′s are not available, after consulting with industry experts it appears that fewer people […]

Wirehouse recruiting loans measure in the billions

{August 20th, 2014} by Mason Braswell

It’s no secret that veteran wirehouse advisers can command top dollar when moving between firms but disclosures from Morgan Stanley and UBS AG show just how much advisers are able to bring in. Morgan Stanley Wealth Management, the largest advisory firm by head count, reported it is holding more than $5.2 billion in outstanding loans […]

Penn Mutual Will Donate $5,000 To Charity For Best Life Insurance Story

{August 20th, 2014} by N/A

HORSHAM, Pa. – Aug. 19, 2014 – Imagine the Possibilities is the name of a Facebook contest just announced by The Penn Mutual Life Insurance Company as part of Life Insurance Awareness Month. The contest asks consumers to submit a story about how life insurance has made a significant impact on their life. The contest […]


Second Quarter 2014 Indexed Insurance Sales

{August 20th, 2014} by Sheryl J. Moore

  Indexed Annuity Wink’s Sales & Market Report, 2nd Quarter 2014 shows second quarter 2014 indexed annuity sales were $12,566 million, compared with sales of $9,203 million for the second quarter of 2013. Second quarter indexed annuity sales were up more than 15% when compared to the previous quarter, and up nearly 37% when compared […]

Annuities Got It Goin’ On: Blog

{August 20th, 2014} by Steve Morelli

Will you need me? Will you still feed me? When I’m 64?” Short answer: no. When The Beatles sang this, today’s 64-year-olds were 17. Like most teenagers, they probably never imagined 64 would happen to them. Heck, they wouldn’t have trusted someone over 30. The age of 64 may as well have been 104. Just […]

Why Fixed Annuities Are Smokin’ Hot

{August 20th, 2014} by Linda Koco

Fixed annuities were smoking in second quarter. Smoking hot, that is. According to the latest individual annuity sales estimates from LIMRA Secure Retirement Institute (LIMRA SRI), total fixed annuity sales hit $25.2 billion in second quarter, up 34 percent from the same period last year. For the first half, fixed sales totaled $49.1 billion, up […]

NAIC Adopts Corporate Governance Models

{August 19th, 2014} by NAIC

LOUISVILLE, Ky. (Aug. 18, 2014) —The National Association of Insurance Commissioners (NAIC) adopted a Corporate Governance Annual Disclosure Model Act and supporting Model Regulation, which provides a means for insurance regulators to receive additional information on the corporate governance practices of U.S. insurers on an annual basis. Under the requirements of the Model Act, U.S. […]

What’s next for Robin Williams’ family?

{August 19th, 2014} by Danielle and Andy Mayoras

Although he had ‘bills to pay,’ he put his real estate in a trust and appears to have provided for his children. The initial shock of Robin Williams’ tragic death is giving way to reflections of his memory and legacy. Many people are also asking what happens next for his family, and what shape was […]

Insurers blast effort to change financial rules revision deadline

{August 19th, 2014} by Allison Bell

Insurers and their software companies are joining to fight a proposal to give regulators more time to update the risk-based capital (RBC) reporting rules for a given year. Regulators use RBC figures to determine whether insurers have enough capital to support the policies they have written. Changes in RBC may increase or decrease what insurers […]

Total Annuity Sales Improve 8% In 2Q

{August 19th, 2014} by LIMRA Secure Retirement Institute Annuity Research

WINDSOR, Conn., Aug. 18, 2014 — Total U.S. annuity sales reached $61.4 billion in second quarter, improving eight percent from prior year. In the first six months of 2014, total U.S. annuity sales increased 10 percent, compared with 2013. “This is only the second time we have seen quarterly sales over $60 billion since the […]

Jackson National extends variable annuity lead

{August 19th, 2014} by Bloomberg News

Jackson National Life, owned by UK-based Prudential Plc, extended its lead in U.S. variable annuity sales at its unit as rivals scaled back. Jackson sold $12.7 billion of the retirement contracts in the first six months of 2014, an increase of 24% from a year earlier, according to data released Monday by the Limra Secure […]

2014 Advisor of the Year: Jason Jenkins

{August 19th, 2014} by Paul Wilson

After earning his undergrad in business and economics, Jason Jenkins, partner and co-founder of Denver, Co.-based Jenkins Wealth Management Group, got started by selling mortgage leads before moving into the fixed annuity space. After hosting a few seminars, he says he quickly realized, “Hey, I really like this.” “You can help people in a significant […]

The SEC Doesn’t Want To See ‘Safe’ Words, Either: Opinion

{August 18th, 2014} by Linda Koco

The Securities and Exchange Commission (SEC) appears to be no more enamored of the word “safe” when used with insurance products than is the Colorado Insurance Division. The SEC’s director of investment management Norm Champ said the SEC has “concerns” when names of variable insurance products suggest safety or protection from loss. “We understand that […]

4 social media marketing tips for insurance agents

{August 18th, 2014} by Phil Penton

Insurance agents are tasked with a unique challenge – developing a local brand identity while delivering on the larger insurance brand’s promise and customer experience. For insurance brands, social media is most often used as a tool to get the word out about the newest services, discounts and plans, but agents have the opportunity to […]

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Months before his death, he decided to become an organ donor: Wink’s Blog

{August 18th, 2014} by Wink

It’s been just over a year since Sheryl J. Moore’s (CEO of Wink, Inc. and Moore Market Intelligence) son took his own life.  Sheryl recently learned that while AJ’s organs– heart, lungs, kidneys– were donated,  his eyes were not. Why were his eyes ineligble to donate? We would like to share AJ’s donation story and Sheryl’s fight to change outdated […]

How to market to women — and why it’s more important than ever

{August 18th, 2014} by Paul Wilson

Thirteen years ago, Rebecca True was working in New York City as a technology executive for Bank of America Securities. On September 11, 2001, many of her clients were killed in the attacks on the World Trade Center. Because she was one of the few women in the company, she was thrust into a role […]

As MetLife rightsizes, other players grow in US annuities

{August 18th, 2014} by Thomas Mason

While MetLife Inc. has made no secret of its efforts to scale back its exposure to the U.S. annuity market, the latest statutory data available shows a particularly steep drop in business for the life insurer. MetLife ranked seventh in the first quarter of 2014, after being in the top spot for the first quarters […]

Pet insurance experiencing ‘exploding growth’

{August 18th, 2014} by Nathan Solheim

While everyone’s howling at the moon these days about health insurance, a certain voluntary benefit no longer resembles that lonely puppy with sad eyes in the pet store that gets passed over by customer after customer. The benefit is pet insurance, which continues to grow in popularity with employees — and employers — around the […]

Leonardi: NAIC Process to Find Firm to Perform In-house Corporate Governance Probe ‘Hijacked’

{August 17th, 2014} by Thomas Harman

LOUISVILLE, Ky. – Connecticut Insurance Commissioner Thomas Leonardi is again questioning corporate governance practices within the National Association of Insurance Commissioners, saying the process to select an outside consultant to examine the NAIC’s corporate governance practices was “hijacked” from the panel that started the process. Leonardi spoke to Best’s News Service at the NAIC’s Summer […]

At NAIC Meeting, Insurance Companies, Groups Call for Flexibility in Global Capital Standard

{August 17th, 2014} by Thomas Harman

LOUISVILLE, Ky. – Major U.S. insurance companies and trade groups want more flexibility in the development of a capital standard, with one company going so far as to propose a U.S. national standard as an alternative to proposals made by international groups. The concerns were addressed at the National Association of Insurance Commissioners’ Summer National […]

A.M. Best Upgrades Issuer Credit Ratings of CNO Financial Group, Inc. and Its Life/Health Subsidiaries

{August 15th, 2014} by Best's News Service

Oldwick – A.M. Best has upgraded the issuer credit ratings (ICR) to “bbb+” from “bbb” with a positive outlook for the life/health subsidiaries of CNO Financial Group, Inc. (CNO Financial) (Carmel, IN) [NYSE: CNO]. Concurrently, A.M. Best has affirmed the financial strength rating (FSR) of B++ (Good) with a revision in the outlook to positive […]

Voya offloads $100 billion of life policies, freeing capital

{August 15th, 2014} by Zachary Tracer, Bloomberg

(Bloomberg) — Voya Financial Inc. struck a deal to transfer life insurance policies with a face value of about $100 billion to Reinsurance Group of America Inc., freeing up funds for the former U.S. arm of ING Groep NV. The deal for about 170,000 term-life policies will create about $200 million of excess capital, New […]

Aegon Posts 43% Rise in Net Income in ‘Strong’ Second Quarter

{August 15th, 2014} by Robert O'Connor

THE HAGUE, Netherlands – In what it described as a “strong” performance, Dutch life insurer and pension provider Aegon NV reported a 43% increase in net income in the second quarter of 2014 to €343 million (US$459.3 million), from €240 million in the same period last year. The jump was mainly due to higher realized […]

CNO Financial Names Chief Actuary-Executive Vice President

{August 15th, 2014} by Fran Matso Lysiak

CARMEL, Ind. – CNO Financial Group Inc. said it named Chris Nickele chief actuary and executive vice president. Previously, Nickele served as president of the other CNO business segment and executive vice president of product management. He will continue to report to Ed Bonach, chief executive officer CNO Financial (NYSE: CNO). Nickele “was the key […]

Williams post-mortem: Answers to 9 questions in suicide cases

{August 15th, 2014} by Warren S. Hersch

The death of actor and comedian Robin Williams has brought to light issues focusing on life insurance policy death benefit claims in cases where the insured committed suicide within a policy’s two-year contestability period. To explore these issues, LifeHealthPro Senior Editor Warren Hersch interviewed Jerome Reisman, an attorney and partner at Reisman, Peirez Reisman & […]

Advisers still struggle to attract women, IN survey shows

{August 15th, 2014} by Trevor Hunnicutt

Women are focused on retirement issues, yet advisers don’t always get their messages across Advisers are still struggling to attract women clients because their marketing efforts sometimes fall on deaf ears and their firms don’t actively recruit female advisers, according to an InvestmentNews survey released Friday. Nearly a third of the advisers responding to the […]

Lincoln Financial Latest Carrier To Expand Survivorship Product

{August 14th, 2014} by Cyril Tuohy

Financial advisors looking for wealth preservation and estate planning strategies using survivorship life insurance policies have another option with the launch of a new survivorship life insurance product by Lincoln Financial Group. Lincoln Wealth Preserve, the company’s first survivorship indexed universal life policy (SIUL), will offer a tax-efficient estate planning strategy while allowing policyholders to […]

Life Applications Increase 0.7% In July

{August 14th, 2014} by N/A

Braintree, MA. (August 14, 2014) — U.S. application activity for individually underwritten life insurance rose +0.7% in July year-over-year, all ages combined, according to the MIB Life Index. July’s increase, preceded by stable improvement in the composite Index since March, is cause for optimism against a backdrop of five consecutive quarters of losses extending from […]

Tough, Wrong Choices For Single Parents

{August 14th, 2014} by Cyril Tuohy

It’s a tough call — made tougher still by making the wrong decision. Single parents, so often on tight budgets, say they would rather put aside money for their child’s education before setting funds aside for their own retirement. Many financial advisors, however, say that’s exactly the wrong call. Like placing an airplane oxygen mask […]

The advisor’s role in financial underwriting

{August 14th, 2014} by Allan D. Gersten

Compared to the attention that the life insurance industry gives to medical underwriting, financial underwriting may seem less important, something like ‘the little finger on the left hand’. But what happens on the medical side goes a long way in determining whether a client’s application is accepted, rejected, or rated. With so much focus on […]

AIG’s 13-year wait gets longer as Modi rebuffed: Corporate India

{August 14th, 2014} by Anto Antony and George Smith Alexander

(Bloomberg) — American International Group Inc. waited 13 years in India to raise its stake in a local venture from a maximum allowed 26 percent. That wait just got longer. Opposition lawmakers, during the parliament session ending today, scuppered Prime Minister Narendra Modi’s attempt to revive a bill proposing a higher cap of 49 percent, […]

Publication of Robin Williams’ trusts highlights privacy concerns

{August 14th, 2014} by Darla Mercado

As outdated documents related to the actor’s estate hit the tabloids, experts weigh in on how to keep confidential plans confidential One key estate and trust lessons is in store in light of the late Robin Williams’ trust documents ending up all over the Internet: Privacy is everything. News of Mr. Williams’ death at age […]

EBRI report blasts Pew, Munnell retirement studies on GenXers

{August 14th, 2014} by Warren S. Hersch

It’s not every day that a major research organization lambasts the conclusions of studies done by industry colleagues and competitors. But such criticism is the focus of a new report from the Employee Benefits Research Institute. In the August 2014 edition of Notes, EBRI flags as inaccurate recent studies suggesting that members of Generation X […]

9 reasons consumers need advisors more than ever

{August 14th, 2014} by Paul Wilson

Van Mueller kicked off the 2014 Advisor Network Summit in Las Vegas with a bang. In his usual rapid-fire manner, he bombarded attendees with a series of facts, figures, stories and a plethora of sales ideas. Click here for a few of the best takeaways.

Axa to Buy $450 Million Stake in U.K. Mall From Land Securities

{August 13th, 2014} by Neil Callanan

Axa SA’s property unit agreed to buy a 50 percent stake in a shopping mall and other assets in the English city of Bristol from Land Securities Group Plc (LAND) for 267.8 million pounds ($450 million). The purchase of Cabot Circus, about 115 miles (185 kilometers) west of London, also includes a stake in homes, […]

In Passing: Robin Williams (1951-2014)

{August 13th, 2014} by Bill Coffin

As I write this, social media has been overtaken by the news that actor and comedian Robin Williams was found dead in his northern California home, apparently the victim of suicide. His publicist noted that Williams – who openly admitted to his struggle with drug and alcohol addiction – was battling severe depression recently, possibly […]

Depression Causes An Estimated 200M Lost Workdays Each Year

{August 13th, 2014} by Pamela Knudson, Grand Forks Herald

Aug. 11–Depression is estimated to cause 200 million lost workdays each year at a cost to employers of $17 billion to $44 billion — 81 percent due to reduced performance while at work, the World Health Organization has reported. As many as 8.4 hours are lost per employee per week as a result of major […]

Roundup: MetLife re-launches retail term insurance

{August 13th, 2014} by Lynette Gil

MetLife re-launches retail term insurance MetLife announced that it is reducing rates on its Guaranteed Level Term product as part of the company’s efforts to enhance its life insurance portfolio. Guaranteed Level Term is a fully underwritten policy and clients who purchase it will have the opportunity to convert to any of MetLife’s permanent policies […]

Advisor staffs up with millennials

{August 13th, 2014} by Lynette Gil

By 2020, millennials will make up 50 percent of the workforce, according to an article in The Wall Street Journal, which talks about how this means that millennials will be looking to invest and plan their financial lives and how advisors should take advantage of the opportunity to tackle this market now. Between trying to […]

Workers Experience High Levels Of Financial Stress

{August 13th, 2014} by Proquest LLC

A new survey conducted by New York Life Retirement Plan Services finds that the majority of 1,500 retirement plan participants polled have felt moderate to severe financial stress over the last six months. New York Life noted that in addition, women feel less prepared overall than their male counterparts for retirement and report higher amounts […]


An 18-year-old’s view of the insurance industry

{August 12th, 2014} by August 8, 2014

Hedge Funds. Private Equity. Investment Banking. Venture Capital. Real Estate. Consulting. Accounting. Entrepreneurship…Insurance. Click here to read…

Robin Williams’ death spotlights the growing risk of suicides among baby boomers

{August 12th, 2014} by Emily Holbrook

As this article states, more than 100 Americans die from suicide every day. And the problem is not getting any better. In fact, more Americans now die from suicide than from car accidents. That’s indeed a scary thought. Though suicide rates had declined in the early 2000s, Rutgers sociologist Julie Phillips notes that the trend […]

5 boomer expectations for retirement in 2014

{August 12th, 2014} by Emily Holbrook

Baby boomers are retiring in droves. Some are well prepared while others never prepared or lost much of their savings to the great recession. For the fourth year in a row, the Insured Retirement Institute (IRI) has issued a report detailing baby boomers’ expectations for retirement in 2014. Click here to read…


Annuities Power 2Q Earnings Season

{August 12th, 2014} by Cyril Tuohy

Annuities delivered big in the latest round of quarterly earnings thanks to higher interest rates and fatter portfolios’ swelling fee income. Take American International Group (AIG). Its life and retirement division, which includes the life and annuities business, said index annuity revenue rose to $305 million in the quarter, compared with $55 million in the […]


Lincoln Financial Group Expands Survivorship Suite

{August 12th, 2014} by N/A

RADNOR, Pa, August 11, 2014 – Lincoln Financial Group (NYSE:LNC) today announced that it has expanded its suite of Survivorship life insurance solutions with Lincoln WealthPreserve Survivorship Indexed Universal Life (SIUL), Lincoln’s first SIUL offering. Lincoln WealthPreserve SIUL enables advisors to implement wealth preservation and estate planning strategies for clients, while offering cash accumulation and […]


Fidelity & Guaranty Life Posts 3rd Quarter Fiscal 2014 Results

{August 12th, 2014} by Proquest LLC

Fidelity & Guaranty Life reported net income of $56.5 million or $0.97 per diluted common share for the third quarter of fiscal 2014 ended onJune 30. “The Company delivered strong performance for the third quarter on several fronts. Sales of our core products; fixed indexed annuity and indexed universal life product lines continue to grow […]


What do insurance executives expect from the market in 2015?

{August 12th, 2014} by Phil Gusman

Amid a changing landscape for insurers, carrier executives demonstrate an awareness of what’s to come from changing consumer demands and the progression of technology. But they seem content to slowly evolve to meet these challenges, rather than making drastic and immediate changes to their businesses. KPMG revealed the results of its 2014 Insurance Industry Outlook […]

MetLife to pay $23 million settlement over faxed pitches

{August 12th, 2014} by Emily Holbrook

MetLife gets the award for using the most antiquated of technology to sell life insurance. It also gets a $23 million judgement for doing so. The insurance giant has agreed to pay the sum to resolve class-action litigation that accused an agent of the firm of improperly blasting life insurance pitches via fax machine. Some […]

Pet Owners Make Financial Plans for Future Pet Care

{August 12th, 2014} by Business Wire

ST. PAUL, Minn.–(BUSINESS WIRE)–Securian Financial Group surveyed 903 pet owners and 44 percent say they have made formal or informal plans for their pets’ future care. For one-fifth of those owners, according to the survey, “Pet heirs: Financial planning with pets in mind,” those plans are financial. Pricing a pet’s life The pet industry has […]

Is Life Insurance Going To The Dogs (And Cats)? : Opinion

{August 12th, 2014} by Susan Rupe

Hanna turns five years old this month. Since every cat we’ve owned has survived and thrived well into its second decade, it’s possible that she might actually outlive one of us. I haven’t given that possibility much thought, but a recent survey indicates that a large percentage of Americans are concerned about what will happen […]

Baby boomers caught in squeeze play

{August 12th, 2014} by Marlene Satter

There’s an old curse that goes, “May you live in interesting times.” Baby boomers, according to a report from consulting firm Mercer, may be living in the most interesting times of all. Boomers, that generation born between 1946 and 1964, are basically the subjects of a massive social experiment.  Click here to read…

The top 10 annuity sales leaders for Q1 2014

{August 12th, 2014} by Nichole Morford

A single stat sums up the dramatic transition the annuity marketplace has seen in recent years: MetLife Inc., which ranked No. 1 in annuity sales for Q1 2012 and Q1 2013, has dropped to the No. 7 spot for the quarter ending March 31, 2014, following a 42 percent decline in sales year over year. […]

Jackson Reports Record First Half Results

{August 12th, 2014} by N/A

LANSING, Mich. – August 12, 2014 – Jackson National Life Insurance Company® (Jackson®) generated a record $1.1 billion in IFRS pretax operating income during the first half of 2014, an increase of 20 percent over the first half of 2013. This overall increase was primarily driven by increased fee income on higher separate account assets […]

Why your social media posts are more popular than you think

{August 11th, 2014} by Nichole Morford

Here’s some encouraging news from Kevan Lee, writing for Buffer Social: Your audience on social media may be four times larger than you think. A joint research project by Stanford University and Facebook arrived at this number after examining the perceived vs. actual audience sizes of 220,000 Facebook users. On average, users gauged their audience […]

MetLife discloses $1 billion of Russia, Ukraine investments

{August 11th, 2014} by Zachary Tracer

(Bloomberg) — MetLife Inc., the largest U.S. life insurer, said it has about $1 billion in investments in Russia and Ukraine amid a conflict among the European nations. Cash and investments in Russia totaled $914 million as of June 30, New York-based MetLife said today in a quarterly filing with the U.S. Securities and Exchange […]

10 reasons not to worry about millennials’ retirement

{August 11th, 2014} by Linda T. Kennedy

If you think millennials, born 1979 and later, will have a tough time achieving a financially secure retirement, think again. While many millennials began their careers during the Great Recession, with low job prospects and high student loan debt, many are considered “super savers” who are actively saving for their futures. Here are 10 facts […]

7 more retirement and annuity facts you should know

{August 11th, 2014} by Warren S. Hersch

How many women and Gen-Xers have calculated how much money they will need to retire? To what extent does working with a financial advisor increase individuals’ retirement confidence? What are the tax implications of boomers who are retiring later, saving more and planning better? Click here to read…

Depression is bipartisan: Opinion

{August 11th, 2014} by Denis Storey

By: Denis Storey Williams is dead. Apparently he took his own life. The early reports are that he’d battled depression most of his life. And from what it sounds like, he lost. Sure, it might not seem that big a deal to most, but I grew up with this guy. (It’s funny. As a kid […]

Profit of Allianz Life parent beats Q2 earnings estimates

{August 11th, 2014} by Oliver Suess

(Bloomberg) — Allianz SE, Europe’s biggest insurer and the parent company of Allianz Life Insurance Company of North America, said second-quarter profit rose 11 percent, helped by higher earnings at the life and health insurance unit and lower natural disaster claims. Net income increased to 1.76 billion euros ($2.35 billion) from 1.59 billion euros a […]

Prudential Swings To Profit On Strength Of Fee-Based Business

{August 11th, 2014} by Cyril Tuohy

Fee income from its annuity, asset management and retirement business, helped Prudential swing to profit in the second quarter with net income of $1 billion, or $2.22 per share, compared with a loss of $517 million, or a loss of $1.12 per share in the year-ago period, the company reported. The company also reported second […]

FINRA Fines: Dollar Amounts Surge, Disciplinary Actions Down

{August 11th, 2014} by Cyril Tuohy

The Financial Industry Regulatory Authority (FINRA) levied fines worth $42.4 million against broker/dealers and other intermediaries in the first six months of 2014. This is an increase of 84 percent compared to the first six months of 2013, according to the international law firm Sunderland, Asbill & Brennan. Sunderland, citing FINRA’s June disciplinary report, said […]

Annuities Driving AIG Life And Retirement Unit

{August 11th, 2014} by Cyril Tuohy

American International Group (AIG) Life and Retirement Division, which includes its life and annuities business, delivered sales of $7.4 billion in premiums and deposits in the second quarter, an increase of 9 percent compared to the year-ago period. Index annuities sales were $305 million in the quarter, up from $55 million in year-ago period, and […]

Allianz Posts 10.5% Rise in Net Profit

{August 11th, 2014} by Robert O'Connor

MUNICH – In what it described as a “strong second quarter” performance, Allianz SE reported a 10.5% increase in net profit to €1.76 billion (US$2.35 billion) from €1.59 billion in the same period in 2013. Second-quarter revenues increased by 10% to €29.46 billion from €26.78 billion. Total revenues in the first six months of the […]

Advisors ignoring millennials

{August 11th, 2014} by Marlene Y. Satter

Financial advisors are leaving millennials out in the cold when it comes to looking for more clients. So says a new study conducted by Harris Poll for the Principal Financial Group, which revealed that only 18 percent of survey respondents target Generation Y as a source of new clients. Instead, they look for baby boomers […]

Here’s Why More Americans Are Retiring Earlier Than They Expected

{August 10th, 2014} by Dan Kadlec

More workers have retired early than late since the Great Recession, new Fed Data show. But it’s not a happy story. It seems counter intuitive: Of all Americans who retired since the Great Recession, more retired earlier than expected than later than expected, a new Fed report shows. This finding appears to be at odds […]

Prudential Financial CEO: Pension Risk-Transfers Represent Attractive Opportunity

{August 8th, 2014} by Fran Matso Lysiak

NEWARK, N.J. – Pension risk-transfers represent an “attractive opportunity” for Prudential Financial Inc., the company’s chief executive officer said as the company swung to a second-quarter profit. Net income rose to $1.04 billion compared with net loss of $517 million last year, which included $2.2 billion in pretax realized investment losses and related charges driven […]

Transamerica Rebranding Four Companies to Bolster Brand Name

{August 8th, 2014} by Best's News Service

CEDAR RAPIDS, Iowa – Transamerica said it’s aiming at increasing the visibility of its name by rebranding four of its companies. The changes are subject to state regulatory approval, but Transamerica officials expect the process to be completed by year’s end. The Iowa-based company’s decision impacts four companies: Monumental Life Insurance Co., which will change […]

A.M. Best Affirms Ratings of Security Benefit Life Insurance Company and Its Affiliate

{August 8th, 2014} by Best's News Service

Oldwick – A.M. Best has affirmed the financial strength rating of B++ (Good) and the issuer credit ratings of “bbb+” of Security Benefit Life Insurance Company (Topeka, KS) and its affiliate, First Security Benefit Life Insurance and Annuity Company of New York (Rye Brook, NY) (collectively known as Security Benefit Life). Both companies are subsidiaries […]

Can you blame baby boomers for refusing to retire? OPINION

{August 8th, 2014} by Matthew Fleischer

The American workforce is gray and getting grayer. According to a report released last week by the Bureau of Labor Statistics, 22.2% of American workers are over the age of 55, making our workforce the oldest it has ever been. Baby boomers, it seems, can’t (or won’t) retire. As much as many of us would […]

‘Dilbert’ Cartoonist Skewers Advisors

{August 8th, 2014} by Cyril Tuohy

It seems as if cartoonist Scott Adams, the creator of the mild-mannered “Dilbert” character, has engendered quite a stir about financial advisors. In a recent blog post, under the tag “general nonsense,” Adams skewered professional investment advisors, suggesting they do more harm than good. As a result, Adams wrote, the government should issue warning labels […]

Should annuities ever go into an IRA?

{August 8th, 2014} by Julius Giarmarco

Internal Revenue Code Section 72 provides annuities with a tax preference in the form of tax-deferred growth. Similarly, IRAs enjoy tax-deferred growth. Thus, given the similarities between IRAs and annuities, should an IRA ever purchase an annuity? Obviously, if the only purpose of the annuity is tax-deferred growth, the answer is “no.” The reason is […]

Transamerica To Rebrand Insurance Companies In 2014

{August 8th, 2014} by PR Newswire Association LLC

BALTIMORE, Aug. 7, 2014 /PRNewswire/ –Transamerica has undertaken a program to merge and rename certain of its statutory insurance companies to further leverage the strength and distinctiveness of its iconic brand. The majority of the rebranding program, which is subject to regulatory approval, is expected to be completed later this year. The following legal entities […]

‘Dateline’ Back In The News — In A Lawsuit

{August 8th, 2014} by Linda Koco

“Dateline,” the NBC television show that pilloried misleading annuity sales practices in 2008, is back in the headlines — but this time as a defendant in a defamation lawsuit, not as a purveyor of an exposé about annuity sales practices involving seniors.  A U.S. circuit court has handed down a ruling that could result in […]

Protective Life’s Second-Quarter Profit Up 4.6% as It Prepares to Be Acquired by Dai-ichi Life

{August 8th, 2014} by Best's News Service

BIRMINGHAM, Ala. – Protective Life Corp.’s second-quarter 2014 profit rose 4.6% as the Birmingham, Alabama-based life insurer readies to be acquired by Japan’s Dai-ichi Life Insurance Co. Ltd. later this year or early next. Net income for Protective Life increased to nearly $108 million. In June, Dai-ichi Life Insurance Co. Ltd. said it agreed to […]

Top five developments to watch for in the annuity space

{August 7th, 2014} by Dave Czernicki, Christopher Raham

For several years following the global financial crisis, annuity market dynamics remained relatively static, consisting of a fairly stable set of companies leading in product sales year over year, a relatively quiet merger and acquisition (M&A) scene, and most product development action aimed at de-risking and reducing product risk profiles. In the last 12 to […]

SEC busts 2 for bilking terminally ill, blind seniors

{August 7th, 2014} by Melanie Waddell, Thinkadvisor

The Securities and Exchange Commission Thursday announced that it had fined one broker for his role in an annuity scam targeting the terminally ill and another for stealing from blind and elderly clients. The architect of a variable annuities scheme designed to profit from the imminent deaths of terminally ill agreed Thursday to settle charges […]

The Principal Financial Group Names New Chief Marketing Officer

{August 7th, 2014} by Business Wire

DES MOINES, Iowa, Aug 07, 2014 (BUSINESS WIRE) –The Principal Financial Group® today announced that Elizabeth Brady has joined the company as senior vice president and chief marketing officer (CMO), effective September 2, 2014. As CMO, Brady assumes overall responsibility for global marketing, including branding, advertising, media relations, digital marketing, sponsorships, data analytics, multi-cultural marketing, […]

Two new annuity contracts from Midland National

{August 7th, 2014} by Editorial Staff

Midland National Life has issued a new fixed indexed annuity and enhanced its LiveWell variable annuity with new investment options, Sammons Retirement Solutions Inc. announced this week. Joining the trend toward marketing variable annuities primarily as tax deferral vehicles, Midland National Life has added new fund options and made other changes to the LiveWell VA, […]

Single Parents Prioritize College Savings Over Retirement

{August 6th, 2014} by N/A

MINNEAPOLIS – Aug. 4, 2014 – When it comes to saving for the future, many of today’s single parents are placing a higher emphasis on saving for their children’s education than funding their own retirement, according to LoveFamilyMoney,* a new Allianz study looking at today’s American family and finances. When asked about their motivation for […]

Insurance Executives Expect Significant Uptick In M&A Activity In 2014

{August 6th, 2014} by Globe Newswire

NEW YORK,  Aug. 6, 2014 (GLOBE NEWSWIRE) — More insurers are eyeing strategic acquisitions this year, according to the 2014 Insurance Industry Outlook Survey conducted by KPMG LLP, the U.S. audit, tax and advisory services firm. In addition, the vast majority are investing in customer programs, talent, and technology to grow their businesses and gain […]

Stealing From The Elderly

{August 6th, 2014} by Cyril Tuohy

With 10,000 people retiring every day, evil-doers, scammers and criminals are licking their chops at the thought of preying on the vulnerabilities of older Americans. As in other professions, the ranks of personal retail financial advisors have their fair share of bad apples. But the stakes in financial services are much higher than in other […]

L&G to Grow in U.S., Europe After Drop in Annuity Sales

{August 6th, 2014} by Sarah Jones

Legal & General Group Plc (LGEN) Chief Executive Officer Nigel Wilson said the biggest manager of U.K. pensions is resilient enough to offset a slump in annuity sales to retirees, as it generates more revenue from the U.S. and Europe. Legal & General is looking to enter the lifetime mortgage market next year and sees […]

How advisors shackle wavering clients (think annuities)

{August 6th, 2014} by Gil Weinreich, ThinkAdvisor

Some advisor-client relationship contracts include termination fees — even steep ones — for clients seeking to take their assets elsewhere, but that’s not the only method advisors use to hold on to unhappy clients. The ethically questionable practice of a client termination fees got wide attention through Jason Zweig’s most recent column in the weekend […]

BBVA Compass Rebuked for Zealous Annuity Sales to Elderly Couple

{August 6th, 2014} by Margarida Correia

The brokerage and insurance units of Compass Bank were ordered to cough up money to compensate an elderly couple for duping them into buying one too many annuities. Norma Jean Kresta, a financial advisor with BBVA Compass Investment Solutions in San Antonio, Texas, convinced John Wilkinson, a retired medical doctor, and his wife, Regina Wilkinson, […]

Business Watch: Fidelity & Guaranty net income climbs

{August 6th, 2014} by Register staff

Fidelity & Guaranty Life reported a 6.2 percent increase in net income for the third quarter. The Des Moines-based annuities and life insurance company said net income rose to $56.5 million, or 97 cents a share, for the quarter ending June 30. That is up from $53.2 million, or $1.13 a share, for the same […]

Why insurance agencies must adopt social media

{August 6th, 2014} by Terry Golesworthy

    Many insurance carriers report frustration in their efforts to make agents enthusiastic about the power of social media. The reluctance of agents, however, to engage in social media is totally understandable: Agency principals grew up in a different time; by and large they do not tweet, poke, pin or follow. Their use of […]

Life insurers’ use of social media expands significantly

{August 6th, 2014} by IFAwebnews Staff

Nearly all life insurance companies had social media programs in place in 2013, according to research from LIMRA. According to LIMRA, 93% of life insurance companies had their own social media programs last year, an increase of 55% in 2010, when only 60% of companies used social media. More than three quarters of companies report […]

‘Dateline’ Back In The News — In A Lawsuit

{August 6th, 2014} by Linda Koco

“Dateline,” the NBC television show that pilloried misleading annuity sales practices in 2008, is back in the headlines — but this time as a defendant in a defamation lawsuit, not as a purveyor of an exposé about annuity sales practices involving seniors. A U.S. circuit court has handed down a ruling that could result in […]

Three Sure-Fire Fixed Annuity Sales Strategies

{August 6th, 2014} by Rich Lane

Today’s investors are looking for a sound investment vehicle to help set them up for retirement. With many scarred from losing money in the recent economic downturn, clients are interested in a vehicle that has a guaranteed rate of return. That is one of the reasons why the fixed annuities industry is seeing strong growth […]

7 facts about annuities you should know

{August 6th, 2014} by Warren S. Hersch

How is the rise in life expectancy impacting financial needs in retirement? Which annuities nabbed the lion’s share of product sales last year? And why are the wealthy—particularly the most affluent among them—buying annuities, given their other substantial assets? CLICK HERE TO READ

Voya Financial Announces 2Q Results

{August 6th, 2014} by PR Newswire Association LLC

NEW YORK, Aug. 6, 2014 /PRNewswire/ –Voya Financial, Inc. (NYSE: VOYA), which has rebranded fromING U.S., today reported financial results for the second quarter 2014: After-tax operating earnings1,2 of $213 million, or $0.83 per diluted share, compared with $177 million, or $0.71 per diluted share in the second quarter of 20133. Net income available to […]

Liberty Mutual discloses 14 percent drop in Q2 earnings

{August 6th, 2014} by Warren S. Hersch

Liberty Mutual Holding Company Inc. and its subsidiaries reported a dip in earnings for the second quarter and first six months of 2014. But revenue, driven in part by a rise in net premiums, continued to grow apace. Liberty Mutual and its subsidiaries reported net income of $393 million and $665 million for the three […]

Focused on a flatter hierarchy: AIG

{August 6th, 2014} by Arthur D. Postal

Incoming American International Group (AIG) CEO Peter Hancock indicated, as he took the helm, that he is confident that long-time AIG executives passed over for the CEO will decide to remain with the company. “Do you have commitments from other leadership of AIG to remain at the company?” Hancock was asked by Jay Gelb, a […]

AIG To Pay $960M To Settle Shareholder Lawsuits

{August 5th, 2014} by Associated Press

NEW YORK (AP) —American International Group Inc. said Monday it has agreed to pay $960 million to settle shareholder claims that the company misled investors. The settlement stems from several class-action lawsuits claiming that AIG executives gave false and misleading information about the insurer’s health, including its exposure to the risky home loans that triggered […]

Indexed annuity sales drive AIG to record quarter

{August 5th, 2014} by Arthur D. Postal

Sales of indexed annuity products drove American International Group’s Retirement Income Solutions Group to another record quarter, Jay Wintrob, CEO and president of AIG Life & Retirement at American International Group, Inc., said today during AIG’s earnings conference call. A key driver of the increase was the fact that nearly half of AIG index annuity […]

AIG Reports 12.5% Increase in Second-Quarter Net Income

{August 5th, 2014} by Michael Buck

NEW YORK – American International Group Inc. saw its second-quarter net income rise 12.5% over the prior-year period to $3.1 billion as the company benefited from a $1.4 billion after-tax gain on the sale of its aircraft leasing business and higher underwriting income in its property/casualty businesses. AIG President and Chief Executive Officer Robert Benmosche […]

American Financial Group, Inc. Announces Second Quarter Results

{August 5th, 2014} by American Financial Group

  CINCINNATI–(BUSINESS WIRE)–Jul. 28, 2014– American Financial Group, Inc. (NYSE/NASDAQ: AFG) today reported 2014 second quarter net earnings attributable to shareholders of $106 million ($1.15 per share) compared to $110 million ($1.20 per share) for the 2013 second quarter. After-tax net realized gains were $7 million ($0.08 per share) in the second quarter of 2014 […]

A.M. Best Affirms Ratings of Pacific LifeCorp and Its Subsidiaries

{August 5th, 2014} by Best's News Service

Oldwick – A.M. Best has affirmed the financial strength rating of A+ (Superior) and issuer credit ratings (ICR) of “aa-” of Pacific Life Insurance Company (PLIC) (Omaha, NE) and its wholly owned subsidiary, Pacific Life & Annuity Company (PLAC) (Phoenix, AZ) (together referred to as Pacific Life Group) (Pacific Life). Concurrently, A.M. Best has affirmed […]

American Equity Reports Second Quarter 2014 Results

{August 5th, 2014} by Business Wire

WEST DES MOINES, Iowa–(BUSINESS WIRE)–July 30, 2014– American Equity Investment Life Holding Company (NYSE: AEL), a leading underwriter of index and fixed rate annuities, today reported second quarter 2014 net income of $36.7 million, or $0.46 per diluted common share, compared to second quarter 2013 net income of $120.1 million, or $1.71 per diluted common […]