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Industry Articles

Debunked: Dave Ramsey’s cash value life insurance advice

{August 25th, 2016} by Michael Markey

A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom. But the tumult soon subsides. Time makes more converts than reason.” — Thomas Paine Over 200 years ago, in his pamphlet “Common Sense,” the political philosopher Thomas Paine […]

How frivolous customer disputes can be erased from Finra BrokerCheck: BLOG

{August 25th, 2016} by Doc Kennedy

Danny Sarch’s blog regarding Finra’s BrokerCheck hit the mark with his assessment of a tool that can be a double-edged sword. Designed with good intentions, BrokerCheck can oftentimes provide a sort of online early warning system for prospective clients looking to place their money with a trusted source. Alternatively, BrokerCheck can raise erroneous red flags […]

DOL’s ‘Fiduciary Rule’ Heads to Court, and Here’s What to Expect

{August 25th, 2016} by C. Ryan Barber and Melanie Waddell

In the face of a fierce lobbying campaign, the U.S. Labor Department backed down in 2010 from a sweeping proposal to change how broker-dealers and investment advisers render advice on retirement accounts. Six years later, with that rule set to take effect next April, the fight over the so-called “fiduciary rule” is heading to court. […]

‘Suitability On Steroids:’ Agent Supervision Under DOL Fiduciary Rule

{August 24th, 2016} by Cyril Tuohy

Marketing organizations that are authorized to act as financial institutions under the Department of Labor fiduciary rule are proposing new supervision frameworks for their agents. So what does this mean for independent insurance agents who sell fixed indexed annuities? The agents can expect those new frameworks to be more rigid and require stiffer due diligence. […]

How one adviser helped an Olympian make the most of his winnings

{August 24th, 2016} by Elizabeth McCourt

Every four years we get to enjoy “the thrill of victory and the agony of defeat” by watching the summer Olympic games. You don’t have to be a women’s cycling fan to ache for Dutch rider Annemiek van Vleuten as she crashed in the last leg of the woman’s road race. Nor do you have […]

6 problems solved by life insurance

{August 23rd, 2016} by Stephan R. Leimberg, Robert J. Doyle, Jr., Keith Buck

Life insurance is the only certain way to create “instant” capital. That capital, in turn, can be used by clients to solve a multiplicity of personal and business problems. To understand how life insurance can, and should, be used (the planners’ imagination, creativity, and ethical perspectives are the only major boundaries limiting the scope of […]

Bulking up: insurers’ planned staff increases at record level

{August 23rd, 2016} by Lifehealthpro Editors

Nearly two-thirds of insurance companies, among them 60 percent of life & health insurers, intend to increase staff during the next 12 months, the highest intent in the history of a study published jointly by The Jacobson Group and Ward Group. The two companies, a part of Aon Hewitt (a business unit of Aon plc), […]

Return of Premium life insurance policies solve problems

{August 23rd, 2016} by Kim Magdalein

Return of Premium (ROP) life insurance is an easy sale, especially to millennials. But the other current generations also seem to like it including Gen X-ers and even baby boomers. Affordability is what makes term insurance so easy to sell. The only distaste would come from the fact that it’s sort of like rent-a-policy. You […]

Former Oklahoma agent gets prison for annuities fraud

{August 23rd, 2016} by Kristen Beckman

A former Oklahoma insurance agent was sentenced to 27 months in federal prison for annuities-related fraud, according to the Oklahoma Insurance Department. Following an investigation, Gary Edward Hibbing, former owner of Grand Lake Investments and Insurance in Grove, Oklahoma, pleaded guilty to two counts of wire fraud and two counts of money laundering. Hibbing was […]

Slideshow IBDs with the most female reps

{August 23rd, 2016} by Michelle Zhou

Which IBDS have the most woman advisers? The percentage of female representatives in the industry has been stuck at around one-third for the past three years. But some top firms have made dramatic progress upping their game, while others have gone in the opposite direction. Triad Advisors, which took the top spot this year, was […]

Why aren’t retirement savers choosing annuities?

{August 23rd, 2016} by Marlene Y. Satter

Annuities have value beyond that recognized by workers who must depend on 401(k)s, not pensions, to get them through retirement. But because they don’t recognize that value, workers aren’t turning to annuities as a source of guaranteed lifetime income. Those are some of the findings in a brief from the Center for Retirement Research at Boston College, […]

Firms Focusing on Fiduciary Rule Compliance While Crossing Fingers on Lawsuits

{August 23rd, 2016} by Ryan Rainey, Morning Consult

With the Labor Department’s fiduciary rule slated to take effect in April, industry opponents are hinging their hopes on stalling or blocking the regulation through three separate legal challenges. But in the meantime, they’re also planning for another possibility: full implementation of the rule. “Almost every company we’ve talked to since the rule has come […]

66% of Insurers Plan Increased Hiring Over Next Year: Study

{August 22nd, 2016} by N/A

More than 66 percent of insurance companies intend to increase staff during the next 12 months, according to a new midyear labor study. That rate is the highest in the history of the study, The U.S. Insurance Labor Outlook Study,conducted by The Jacobson Group and Ward Group. The study has been conducted since 2009. However, […]

Judge to Hear National Association for Fixed Annuities Suit Against DOL Rule

{August 22nd, 2016} by Frank Klimko

WASHINGTON – A federal judge on Aug. 25 will consider a request urging him to immediately stop implementation of the U.S. Department of Labor’s new fiduciary rule, which critics claim could initiate a cavalcade of arbitrary mandates, upending the retirement advice industry. “If the rule is allowed to go into effect, jobs will be lost, […]

DOL roundtable: Views from industry veterans

{August 20th, 2016} by Warren S. Hersch and Emily Holbrook

As we look toward 2017 and the implementation of the Department of Labor’s fiduciary standard rule, many questions remain. Though the UK and Australia have been operating under similar rules for several years, there is no clear indication of what such regulatory regime will do to the insurance and retirement advisory industry in the U.S. To […]

Update: Protective Life’s Acquisition of USWC to Expand Market Reach

{August 20th, 2016} by Renée Kiriluk-Hill

BIRMINGHAM, Ala. – (Corrects the value of the blocks acquired in January in the sixth paragraph.) Protective Life Corp. is acquiring USWC Holding Co., whose primary subsidiary offers finance and insurance products for dealers, lenders and manufacturers. Terms were not disclosed. The acquisition is expected to provide the companies with expanded market reach, enhanced product […]

Increase Financial Literacy to Achieve Financial Well-Being

{August 19th, 2016} by M.O.O.D. of America Survey

Educating parents… so they can educate their children August 19, 2016 — RADNOR, Pa.–(BUSINESS WIRE)– A panel of financial services industry and academic thought leaders, participating in an event debuting findings from Lincoln Financial Group’s (NYSE: LNC) most recent Measuring Optimism, Outlook and Direction (M.O.O.D.) of America survey, outlined actions designed to increase financial literacy, to help […]

FSOC seeks prompt arguments in MetLife case

{August 18th, 2016} by Arthur D. Postal

WASHINGTON — The government today renewed its call for prompt oral arguments in the case involving its designation of MetLife as a systemically important financial institution (SIFI), hopefully in October or “as soon thereafter as is feasible.” The March 30 decision by Judge Rosemary Collyer declaring MetLife’s designation as arbitrary and capricious “nullifies an important […]

AIG Tops Annuity Sales Chart Again

{August 18th, 2016} by Kerry Pechter

For the second consecutive quarter, AIG has reached the top of the list of annuity sellers in the U.S., with combined fixed and variable annuity sales of $9.78 billion in the first half of 2016, according to LIMRA Secure Retirement Institute, which published its Second Quarter U.S. Annuity Sales survey this week. AIG-owned annuity issuers (including American […]

Former life insurance agent gets jail, to pay $500,000 restitution

{August 18th, 2016} by IFAwebnews Staff

A former Oklahoma life insurance agent has been sentenced to 27 months in federal prison and must pay $500,000 in restitution for insurance and annuity fraud. Gary Edward Hibbing, 53, of Chino, Calif., and formerly of Grove, Okla., where he operated his elicit insurance dealings, was sentenced after pleading guilty to two counts of wire […]

Too many people kept in the dark about life insurance costs

{August 17th, 2016} by Barry D. Flagg

One of the industry’s largest life insurance companies recently filed a motion for secrecy in a lawsuit against them for allegedly singling out and charging certain policyholders substantially more for the cost of insurance. This is another example of efforts to keep policyholders and advisers in the dark, denying the information essential to the prudent […]

Update on Lawsuits Challenging the U.S. Department of Labor’s Fiduciary Rule

{August 17th, 2016} by Proskauer Rose LLP - Russell L. Hirschhorn and Benjamin Saper

As Proskauer Rose LLP previously reported, there are five pending lawsuits challenging the U.S. Department of Labor’s new fiduciary rule.  Their Client Alert on the new rule outlines the significance of the rule and the implications of the expanded definition of “fiduciary” for investment advisors and other related service providers. Written by: Proskauer Rose LLP – Russell L. […]

Fixed indexed annuities break quarterly sales record

{August 17th, 2016} by LifeHealthPro editors

According to LIMRA Secure Retirement Institute’s Second Quarter U.S. Annuity Sales survey, fixed indexed annuity sales were $16.2 billion, 30 percent higher than prior year and surpassing prior quarterly sales records.  “The decline in interest rates benefited indexed annuity sales once again as consumers seek out ‘safe yield’,” said Todd Giesing, assistant research director, LIMRA Secure Retirement […]

Allianz FMO Proposes FINRA-Style Oversight of Insurance Agents

{August 17th, 2016} by Cyril Tuohy

InForce Solutions, a field marketing organization for the largest seller of fixed indexed annuities in the U.S., is proposing a similar structure used by broker-dealers as a way to supervise independent agents. Broker-dealers are registered with and supervised by the Financial Industry Regulatory Authority, or FINRA, a self-regulatory organization. The supervisory structure would allow InForce, […]

Great American Life Launches New Fixed-Indexed Annuity and Guaranteed Income Rider for Fee-Based Advisors

{August 16th, 2016} by Great American

CINCINNATI–(BUSINESS WIRE)–Great American Life® is expanding its product offerings to include a fee-based fixed-indexed annuity and optional guaranteed income rider for advisors. The Index ProtectorSM 7 fixed-indexed annuity marks Great American’s entry into the investment advisory channel. As one of the first fixed-indexed annuities to hit this emerging market, the Index Protector 7 is designed […]

The New BCA Elevate™ Fixed Indexed Annuity is a Powerful Solution for Retirement

{August 16th, 2016} by Annexus

SCOTTSDALE, Ariz., Aug. 15, 2016 (GLOBE NEWSWIRE) — Annexus, a leading designer of retirement savings and income solutions, launched the BCA ElevateTM suite of fixed indexed annuities today. BCA Elevate features exclusive access to the Merrill Lynch RPM IndexTM, which leverages the positive momentum of six global asset classes, including equities, fixed income and real […]

Financial advisors on track to implement new Department of Labor rule standards

{August 16th, 2016} by Nationwide Retirement Institute

COLUMBUS, Ohio, Aug. 11, 2016 /PRNewswire/ — A Nationwide Retirement Institute® survey released today finds the new Department of Labor (DOL) fiduciary rule has most advisors considering changes to their business model as they wait to learn their firm’s new compliance procedures. As financial advisors work to comply with the new rule, Nationwide’s Countdown to Implementation […]

NAFA Sues the DOL

{August 16th, 2016} by Cliff Andrews

Annuity Leadership Forum in D.C. a Success and Congress Attempts to Overturn President’s Veto On June 2, NAFA filed a federal lawsuit in the D.C. District Court challenging the Department of Labor’s new “fiduciary rule.” The lawsuit seeks a preliminary injunction to stay the rule, which is currently scheduled to become operational in April 2017. […]

Principle-Based Reserving To Be Implemented January 1, 2017

{August 16th, 2016} by Pam Heinrich

When the National Association of Insurance Commissioners (NAIC) adopted the revisions to the Model Standard Valuation Law (SVL – NAIC MDL #820) in 2009, it introduced a new methodology for calculating life insurance policy reserves called Principle-Based Reserving, or PBR. According to the American Academy of Actuaries, which worked closely with the NAIC to develop […]

Potential Changes to Fixed Annuity Product Designs After Implementation of the DOL Fiduciary Rule

{August 16th, 2016} by Harry Stout

The life insurance industry is now contemplating what it must do to implement the final DOL fiduciary rule (“the rule”). The April 10, 2017 date is known, circled on most calendars and the race is on to comply with the 1,023 page rule by that date. Most organizations are doing their planning, assuming there will […]

The New Language of Permanent Life Insurance

{August 16th, 2016} by Annuity Outlook Staff

Research reveals a better way to engage with consumers so they won’t “turn off” when life insurance is discussed. This issue of Annuity Outlook magazine article excerpts an AXA White Paper: The New Language of Permanent Life Insurance, based on positioning and messaging research by Maslansky + Partners. Life insurance sales have never been easy, […]

DOL fiduciary rule: On a collision course with the law?

{August 16th, 2016} by Warren S. Hersch

If the Department of Labor’s final fiduciary rule were an infrastructure project, perhaps the best analogy would be to a catastrophically leaky dam. Like their peers in the civil engineering world, insurance and financial services experts assessing the legal foundations of the DOL’s hole-ridden edifice — a 1,000-plus-page document that stretches definitions, makes new jurisdictional […]

Cash value accumulation test or guideline premium test: a comparison

{August 16th, 2016} by Bruce Guillemette, Christian Kaplan

As life insurance products evolved, particularly in the early 1980s, with the advent of universal life (UL) insurance characterized by flexible premiums, other client considerations came to the forefront. Should permanent life insurance products be designed to emphasize pure death benefit protection or pure accumulation? Death-benefit-focused products have more “levelized” costs, i.e., a shallower expense curve, […]

MetLife goes for broke in latest SIFI case filing

{August 16th, 2016} by Arthur D. Postal

WASHINGTON — “There is no reasonable possibility” that material financial distress at MetLife would ever pose a threat to the financial stability of the United States, the company argued in a filing to an appeals court on Monday.   The brief was filed in the U.S. Court of Appeals for the D.C. Circuit as MetLife continued […]

When clients can’t afford to retire

{August 16th, 2016} by Miriam Rozen

A recent study by HSBC shows that 40% of Americans are unable to retire until their 70s, and an unlucky 20% are unable to retire ever. A survey by Willis Towers Watson corroborates that finding, showing that about one in four U.S. employees think that they won’t be able to retire until after 70, and […]

Consumer groups reject DOL lawsuits

{August 15th, 2016} by Arthur D. Postal

WASHINGTON — Three consumer groups are asking a D.C. federal court to deny a trade group’s request for an injunction that would bar the Department of Labor (DOL) from implementing its fiduciary standard rule next April, pending further legal proceedings. The friend of the court brief was filed by Better Markets, Inc., Consumer Federation of […]

Even popular changes to DOL fiduciary rule are proving problematic

{August 15th, 2016} by Liz Skinner

A handful of changes the financial advice industry praised when the final DOL fiduciary rule on retirement advice came out in April are turning out to be less advantageous than expected. For one, the rule that allows advisers to use product revenue within the best-interest contract exemption has become difficult when it comes to ensuring […]

Advisors may revamp their practices in wake of DOL rule

{August 15th, 2016} by LifeHealthPro Editors

The new Department of Labor (DOL) fiduciary rule has most advisors considering changes to their business model as they wait to learn their firm’s new compliance procedures, according to a new survey. Nationwide disclosed this finding in its “Countdown to Implementation” study of 622 financial advisors representing a mix of distribution channels, tenure and production. […]

Court tosses fraud complaint against former investment adviser Dick Van Dyke

{August 15th, 2016} by Tim Landi

An Illinois appeals court has ruled that state regulators overstepped their authority in 2013 when they accused Springfield financial adviser Dick Van Dyke of fraudulently marketing retirement products to older clients. In a unanimous opinion handed down last week, three justices of the Fourth District Appellate Court in Springfield found that the Illinois Department of […]

Unchartered waters: Why this IMO is seeking FI status under DOL rule

{August 15th, 2016} by Warren S. Hersch

Since the Department of Labor handed down its fiduciary rule, the industry has been abuzz about the outlook for insurance-only producers who sell fixed indexed annuities through independent marketing organizations. The reason: The rule doesn’t include IMOs in its definition of a “financial institution.” The FI categorization has traditionally been reserved for broker-dealers, insurers and […]

Be Proactive with Objections – Understanding Fee Products VS. Spread Products

{August 15th, 2016} by Tom Henga

As we embark into new horizons in the insurance industry and potential regulatory changes, we consistently need to remind ourselves the reason we act as financial advisors. For many of us, we want to make a positive impact on our clients’ lives so they enjoy a happy and successful retirement. Unfortunately, there are many who […]

IMOs take on enhanced sales role under the new DOL rule

{August 15th, 2016} by Arthur D. Postal

WASHINGTON — An historic reluctance to deal with federal regulators is apparently slowing the ability of the insurance industry to properly comply with the Department of Labor’s new fiduciary standard as of the April 2017 deadline. At stake is the ability of independent agents to maintain the current momentum of hot-selling fixed index annuities(FIAs) into retirement […]

Primerica expects to pay $4M-$5M per year to comply with DOL fiduciary rule

{August 13th, 2016} by Greg Iacurci

Primerica Inc. executives estimate the firm will incur ongoing costs between $4 million and $5 million per year to comply with the Labor Department’s fiduciary rule, joining a handful of other financial services companies who’ve publicly said they anticipate spends in the tens of millions of dollars. The insurer is also eyeing a “one-time cash […]

3 must-have digital technologies for today’s insurance agents

{August 13th, 2016} by Justin Brown

As the world moves rapidly toward internet- and mobile-based means of advertising and lead generation, the insurance industry is following suit, but perhaps more slowly than other major business categories. Today, only one-third of independent insurance agents in the U.S. have structured programs in-place for online lead generation, according to Quote Wizard, a digital insurance […]

3 significant anomalies in the DOL’s new fiduciary rule

{August 12th, 2016} by Phil Troyer

As is the case with most chief compliance officers these days, I have spent considerable time reviewing 1,000 plus pages of the Department of Labor’s new fiduciary regulations and commentary. The following are a few of the significant implications I believe are not receiving the attention they deserve: 1. Say goodbye to solicitors agreements — […]

Annuities as an RMD answer: navigating potential pitfalls

{August 12th, 2016} by William H. Brynes, Robert Bloink

While many advisors have counseled against purchasing an annuity with IRA funds in the past, in today’s post-recession world, there are a variety of valid reasons why a client may be interested in the annuity-within-an-IRA strategy. However, as with any retirement income planning strategy, the pitfalls associated with a poorly executed annuity purchase strategy can cause […]

The time is now to start prospecting life insurance online: Opinion

{August 11th, 2016} by Jeff Root

Life insurance agents should be marketing online because that’s where potential customers are spending their time and getting their information. According to a LIMRA report, 85 percent of consumers research life insurance online before purchasing a policy, and close to 50 percent of the people who bought life insurance in 2015 did so online or […]

S&P 500, Dow, Nasdaq all hit record highs

{August 11th, 2016} by Rita Nazareth, Joseph Ciolli

(Bloomberg) — All three U.S. stock benchmarks hit record highs for the first time since Dec. 31, 1999, amid surprisingly strong earnings announcements. Meanwhile, across the pond, European shares erased the slump that followed Britain’s secession vote. The S&P 500, Dow and Nasdaq indexes all advanced amid better-than-forecast profits at retailers Macy’s and Kohl’s. Europe’s […]

4 onboarding tech features to help insurers compete and win

{August 10th, 2016} by Dean Hodge

To succeed in today’s competitive insurance marketplace, companies must manage growth, handle change effectively and balance multiple priorities. Agents and agency channel partners are playing an increasingly important role for insurance companies, which are facing sustained growth rates of approximately 10 percent per year, according to Bureau of Labor Statistics projections. At the same time, […]

Danica Patrick Has Got Your Back During LIAM

{August 10th, 2016} by Marvin Feldman

At Life Happens, we’re doing things a bit differently this year for Life Insurance Awareness Month (LIAM) in September. We want people to take stock of the risk they’re taking by not protecting their loved ones with life insurance. To help us get that message out, we’re pleased to have professional race car driver Danica […]

MassMutual ‘Leaning Toward’ BD Channel Sales

{August 10th, 2016} by Cyril Tuohy

MassMutual Financial Group is “leaning toward” selling financial products into retirement accounts through broker-dealers to satisfy new Department of Labor fiduciary rules. Companies are busy deciding how to sell popular products such as fixed indexed annuities under the new DOL rules, which start taking effect in April. Analysts say banks and broker-dealers could take business […]

Planning Around The Myths of Life Insurance

{August 10th, 2016} by Greg Riedel and Sean Scaturro

Quite often, your clients are objecting for all the wrong reasons With increased health care costs and the rising costs of living and investment volatility, your clients are facing more challenges and are equipped with fewer resources to count on to meet their long term goals. Given these challenges, a complete financial planning picture should […]

Adviser Olympians offer financial tips to athletes competing in Rio and beyond

{August 9th, 2016} by Liz Skinner

Former Olympic athletes who are now financial advisers encourage America’s 554 competitors at this summer’s games to enjoy their time in Rio de Janeiro, but also keep in mind their future wealth prospects. Medal winners in certain popular sports like swimming and gymnastics can expect to attract lucrative sponsorships and possibly careers as inspirational speakers. […]

20 wealthiest U.S. Olympic athletes in Rio

{August 9th, 2016} by Kristen Beckman

The world’s best athletes are gathering in Rio de Janeiro in hopes of bringing home gold during the 2016 Summer Olympics. For many of these gifted athletes, competition is a labor of love that takes more than it gives in terms of finances. But ever since the Olympics allowed professional athletes to compete, many of […]

A.M. Best Affirms A+ Rating of North American Company for Life and Health Insurance

{August 9th, 2016} by North American Company for Life and Health Insurance

CHICAGO, IL–(Marketwired – August 09, 2016) – A. M. Best has affirmed the A+ (Superior) rating North American Company for Life and Health Insurance®, a member company of Sammons® Financial Group. Additionally, the outlook for this rating was called stable. In its statement, A. M. Best cited Sammons Financial Group’s “prominent market positions in the […]

Feeling anxious? Here are the top 4 concerns of advisors

{August 9th, 2016} by LifeHealthPro Editors

Managing market volatility continues to be advisors’ top concern according to new research. Eaton Vance Distributors discloses this finding in its “Advisor Top-of-Mind Index (ATOMIX), a quarterly survey of 1,000 U.S. financial advisors. The index calculates a weighted average of current perceptions (40 percent of the index) and what advisors think about the trends (60 […]

Life Insurance Activity Continues Growth In July

{August 9th, 2016} by MIB Life Index

Braintree, MA. (August 8, 2016) — U.S. application activity for individually underwritten life insurance was up 2.0% in July year-over-year, all ages combined, according to the MIB Life Index. The index value for the MIB Life Index, 7 months YTD is 84.44―levels not seen for the industry since summer 2008. July’s percent change is conservatively […]

6 IMOs Apply for ‘Financial Institution’ Status Under DOL Rule

{August 9th, 2016} by Cyril Tuohy

Six independent marketing organizations, or IMOs, have applied to the Department of Labor’s Office of Exemption Determinations to become a “financial institution.” Earning the designation would clear the path for independent insurance agents to sell commission-based insurance and financial products under the Labor Department’s Best Interest Contract Exemption, or BICE. A financial institution seal-of-approval from […]

Four Insurers Agree to Pay States $3.4 Million in Death Master File Settlement Agreements

{August 8th, 2016} by Thomas Harman

TALLAHASSEE, Fla. – Four more life insurance companies will pay $3.4 million to five states as part of a settlement involving the Social Security Administration’s Death Master File database to search for policyholder beneficiaries. Hartford Fire & Casualty Group will pay $2.1 million, Securian will pay $625,000; Great American will pay $400,000, and Standard will […]

INVESTING Invest Like a Billionaire (If You Are One): Editorial

{August 8th, 2016} by Barry Ritholtz

Sell everything! That seems to be the advice coming from the moneyed set these days. Not just one or two cranky billionaires, but many of them; Warren Buffett seems to be a notable exception. In a commentary sent to clients last week, Nick Colas, chief strategist at Convergex, pointed out that “many of the smartest […]

Nationwide to debut new ad campaign during Olympics

{August 8th, 2016} by News Briefs, Business Record

  Nationwide will launch a new advertising campaign tonight during NBC’s broadcast of the opening ceremony of the Summer Olympics, featuring Grammy Award-winning superstar Brad Paisley and multiplatinum pop artist Rachel Platten, best known for her hits “Fight Song” and “Stand by You.” The new campaign, “Song for All Your Sides,” is designed to highlight […]

Built to last: tips for preventing life insurance failure

{August 5th, 2016} by Ed Slott

Life insurance is a promise that must be kept. The essence of life insurance is that it’s not a gamble or wager. It’s a guarantee, as opposed to other investments that cannot provide that certainty.  This is why an essential part of any life insurance plan is to make sure it lasts. Every insurance professional should have a plan in place […]

What’s the good news, ladies? Women who are changing the industry: Opinion

{August 5th, 2016} by Susan L. Combs

With so much negativity in the world these days, I often find myself actively searching for the “good stuff” and celebrating those who share this information with me.  I recently caught up with my friend and colleague, Emily Viner, VP of Agency Growth & Development for Guardian, and we were discussing Guardian’s study on closing […]

FBL Financial reports second-quarter earnings

{August 5th, 2016} by News Brief

FBL Financial Group Inc. on Thursday reported second-quarter net income of $24.4 million, or 97 cents per share, compared with $32.4 million, or $1.29 per share, for the second quarter of 2015. Premiums collected in the second quarter of 2016 totaled $186.9 million, compared with $158.1 million a year ago. Annuity premiums collected increased 43 […]

CEO: MetLife’s Plan to Lower Expenses by 11% to Include Job Cuts

{August 5th, 2016} by Marie Suszynski

NEW YORK – With a goal of lowering expenses by 11%, MetLife Inc. said it plans to cut jobs as the company moves closer to separating its U.S. retail business, the company’s chief executive officer said. MetLife is targeting $1 billion in pretax run-rate expense savings by the end of 2019, which will improve the […]

Genworth jumps 27% as securities sale, mortgage unit fuel profit

{August 4th, 2016} by Katherine Chiglinsky

(Bloomberg) — Genworth Financial Inc. posted its biggest intraday gain since 2009 after reporting a second-straight quarterly profit as Chief Executive Officer Tom McInerney reshapes the insurer to rebound from losses on long-term care coverage. The insurer rose 74 cents, or 27 percent, to $3.49 at 9:37 a.m. in New York, narrowing its loss for the […]

MetLife Net Falls 90% on Review of Annuities Slated for Exit

{August 4th, 2016} by Katherine Chiglinsky

MetLife Inc., the largest U.S. life insurer, said second-quarter profit tumbled 90 percent on a review of the prospects of a variable-annuity business that Chief Executive Officer Steve Kandarian is seeking to exit. The stock declined in extended trading. Net income dropped to $110 million from $1.12 billion a year earlier, the New York-based company […]

American Equity Reports Second Quarter 2016 Results

{August 4th, 2016} by American Equity

WEST DES MOINES, Iowa–(BUSINESS WIRE)–American Equity Investment Life Holding Company (NYSE: AEL), a leading issuer of fixed index annuities, today reported second quarter 2016 net income of $14.7 million, or $0.18 per diluted common share, compared to net income of $82.8 million, or $1.05 per diluted common share, for second quarter 2015. Operating income1 for […]

Prudential annuities, retirement solutions earnings dip in Q2

{August 4th, 2016} by Lifehealthpro Editors

Prudential Financial’s earnings dipped by 52 percent in the second quarter compared to the year-ago period, the company disclosed in its latest earnings statement. Prudential reported net income of $921 million ($2.04 per common share) for the second quarter of 2016, compared to $1.406 billion ($3.03 per common share) for the year-ago quarter. After-tax adjusted […]

Prudential Financial, Inc. announces second quarter 2016 results

{August 4th, 2016} by Prudential Financial

Net income attributable to Prudential Financial, Inc. for second quarter 2016 of $921 million, or $2.04 per Common share, compared to $3.03 per Common share for year-ago quarter. After-tax adjusted operating income of $829 million, or $1.84 per Common share, compared to $2.91 per Common share for year-ago quarter. Significant items in the Quarter The […]

Trent Richardson says family, friends spent $1.6 million of his money in 10 months

{August 4th, 2016} by Mark Inabinett | minabinett@al.com

On March 12, 2015, the Indianapolis Colts released running back Trent Richardson. Seven months later, after being cut by the Oakland Raiders at the end of training camp and without an NFL team for the 2015 season, the former Alabama All-American took a close look at his finances for the first time. What he found, among other […]

DOL rule could erase indexed annuity gains next year

{August 4th, 2016} by LifeHealthPro Editors

LIMRA Secure Retirement Institute forecasts a 15-20 percent increase in retail indexed annuity sales in 2016, compared with 2015 results. “For eight consecutive years, indexed annuities have enjoyed significant growth. Based on current sales trends, existing economic conditions and the imminent regulatory changes, we expect indexed annuity sales to accelerate in the second half of the […]

Will Indexed Annuity Sales Fall Because of the DOL Ruling?: OPINION

{August 4th, 2016} by BSMG

  We’ve heard a lot about the DOL’s recent fiduciary ruling over the last few months…. So what about annuities? How will annuity sales be affected by the DOL’s strict ruling? InvestmentNews recently published an article that projects indexed annuity sales will fall 30% due to the ruling. Read below to find out why.  If you […]

Futurity First Financial acquires nationwide annuity IMO

{August 3rd, 2016} by Kristen Beckman

Independent insurance distribution company Futurity First Financial Corp. has acquired M3 Financial, a nationwide annuity indepedent marketing organization based in New York City. Founded in 2007 by Mike Bartolotta, M3 Financial focuses on annuity and life insurance distribution, particularly fixed and fixed indexed annuities. Bartolotta will remain with the company as president of M3 Financial. […]

Back To The Future: A Comeback for Mutual Insurance?

{August 3rd, 2016} by Swiss Re

02 August 2016 — Zurich — The mutual insurance sector has undergone a modest recovery in recent years, says Swiss Re’s latest sigma report “Mutual insurance in the 21st century: back to the future?” Mutual insurers’ share of the overall insurance market increased from 24% of direct premiums written in 2007 to just over 26% in 2014, […]

Fidelity & Guaranty Life Reports Fiscal Third Quarter 2016 Results

{August 3rd, 2016} by PR Newswire

DES MOINES, Iowa, Aug. 2, 2016 /PRNewswire/ — Fidelity & Guaranty Life (NYSE: FGL), a leading provider of annuities and life insurance, today reported net income of $10 million or $0.16 per diluted common share for the fiscal third quarter of 2016 ended on June 30, 2016(1).  The Company reported adjusted operating income of $48 million, or […]

Women insurers see inroads on gender equality

{August 3rd, 2016} by Mark A. Hofmann

In a survey conducted in conjunction with the Insurance Industry Charitable Foundation’s 2016 Women in Insurance Conference Series last month, more than four out of five women say the industry is making progress toward gender equality. When asked whether they agreed with the statement “strides to achieve gender equality are being made in the insurance […]

Vantis Life Insurance Launches America’s Easiest-to-Sell Annuity

{August 3rd, 2016} by Vantis Life

Freedom” Series has Simple Features and a Solid, Guaranteed Rate WINDSOR, Conn., July 28, 2016 /PRNewswire/ — With consumers more and more skittish about the stock market, and Department of Labor (DOL) rules weighing on agents and distribution outlets, Vantis Life Insurance Company has a solution.  The company today announced that it now is offering TaxSaver […]

Insurance Companies Could Help Fuel ETF Industry Growth

{August 3rd, 2016} by Max Chen

Insurance companies are slowly including exchange traded funds in their general accounts as a way to lower costs and to easily access high-quality assets. “Insurance companies only hold 1.3% of their surplus as regards policyholders in ETFs, but usage has become prevalent and is likely to increase given the wide array of low-cost passive products […]

Principal Financial CEO: DOL Fiduciary Rule Change Price Tag Is $1 Million Per Month

{August 2nd, 2016} by Best's News Service

DES MOINES, Iowa – The U.S. Department of Labor’s fiduciary rule update is expected to cost Principal Financial Group Inc. an additional $1 million a month over the next 18 to 24 months, the company’s chief executive officer estimated. Once the rule is fully implemented, the annual operational cost associated with it is expected to […]

Now about my obscene commissions…

{August 2nd, 2016} by Stephen Kelley

  I recently read a column about annuities on Forbes.com that is fairly typical of the trashing most media types and “fee-only” advisers like to dish. As is frequently the case, it was filled with lots of hyperbole and character attacks on annuities and the insurance companies and agents who sell them. I believe this to be […]

Indexed Annuity Sales To Exceed $60B In 2016

{August 2nd, 2016} by Limra

WINDSOR, Conn., Aug. 2, 2016—LIMRA Secure Retirement Institute forecasts a 15-20 percent increase in retail indexed annuity sales in 2016, compared with 2015 results. “For eight consecutive years, indexed annuities have enjoyed significant growth.  Based on current sales trends, existing economic conditions and the imminent regulatory changes, we expect indexed annuity sales to accelerate in […]

DOL Rule Sets Up Compensation Minefield

{August 2nd, 2016} by John Hilton

The Department of Labor fiduciary rule was published nearly four months ago, but analysts say broker-dealers and their advisors still don’t fully understand how compensation is affected. The rule requires anyone working with retirement funds to act in the best interest of their clients. That means “conflicted” compensation, like trail commissions and trips to Cancun, […]

Allianz Life Awards $275,000 in Grants to Local Nonprofits Supporting Financial Literacy

{August 2nd, 2016} by Allianz Life

MINNEAPOLIS–(BUSINESS WIRE)– Allianz Life Insurance Company of North America (Allianz Life®) announced today that is has awarded $275,000 in financial literacy grants, ranging from $10,000 to $25,000, to 14 nonprofit organizations in the Twin Cities. Since 2010, the Allianz Life financial literacy grant program has distributed more than $1.6 million. Grant recipients will use the […]

10 Things You Didn’t Know About the DOL’s New Rule

{August 2nd, 2016} by Carolyn Rose Kick

In the wake of the DOL’s announcement of the new fiduciary rule, many advisors were left asking–how is it going to effect me? Check out 10 things you didn’t know about the DOL’s new rule. 1. It doesn’t start immediately. The rule includes a “delayed implementation clause” which gives firms plenty of time to prepare […]

On the rebound in 2016: Mutual life insurers

{August 2nd, 2016} by Lifehealthpro Editors

The mutual insurance sector has undergone a modest recovery in recent years, yielding gains in direct premiums written. So reports Swiss Re in its latest sigma study, “Mutual insurance in the 21st century: back to the future?” Mutual insurers’ share of the insurance market increased to 26 percent of direct premiums written in 2014 from […]

Millennials mooch off their parents now but plan to support them financially later

{August 2nd, 2016} by Polly Mosendz

At the end of a trip home to see the family, even an employed millennial is occasionally slipped some cash from a loving, if somewhat concerned, parent. But in a couple years, many of those on the receiving end expect those roles to be reversed.  Laden with student debt and mounting credit card bills, some millennials currently rely on relatives […]

What’s behind the surge in fixed indexed annuity sales?

{August 2nd, 2016} by Andrew Murdoch, CFP

Sales trends in annuities may be markedly different at the start of 2018 — less than 1.5 years away — when new Department of Labor regulations kick in regarding the way retirement investments are sold. Judging from unusually brisk sales of one particular kind of annuity — fixed indexed annuities (FIAs) — that is likely to be a […]

Broker-Dealers Embrace DOL’s Best Interest Contract Exemption

{August 1st, 2016} by ThinkAdvisor

Despite the flurry of lawsuits that have followed the release of the final Department of Labor (DOL) fiduciary rule, some insurance carriers are coming to terms with the new regime and have announced plans to comply with the seemingly burdensome rules. Particularly, several insurance carriers with affiliated broker-dealer networks have indicated that they will attempt […]

NAIC Life Insurance and Annuities (A) Committee Adopts Revisions to Actuarial Guideline 49

{August 1st, 2016} by Sutherland Asbill & Brennan LLP

USA August 1 2016 On July 27, 2016, the Life Insurance and Annuities (A) Committee adopted revisions to Actuarial Guideline 49 (AG 49) to address situations where indexed universal life (IUL) insurance policies make available multiple index account options with different account charges (the dual account issue). The IUL Illustration (A) Subgroup of the Life […]

4 Key Ways Whole Life Insurance Differs From Term Life Insurance: Blog

{August 1st, 2016} by Barbara Marquand

Whether it’s better to buy term life or whole life is one of the most asked questions about life insurance. The answer depends on your needs, though, and before picking a policy, you should understand the differences. Here are the four main ways whole life insurance differs from term life. 1. Whole life insurance is […]

American National Life Insurance Company of New York Introduces an Industry Leading Guaranteed Universal Life Policy with a Guaranteed Cash-Out Option – Signature Guaranteed Universal Life Insurance

{August 1st, 2016} by American National Life Insurance Company of New York

GLENMONT, N.Y., Aug. 01, 2016 (GLOBE NEWSWIRE) — American National Life Insurance Company of New York (NASDAQ:ANAT) (American National) is proud to announce that a new product, the Signature Guaranteed Universal Life Insurance, is available in New York [August 1, 2016].  This industry leading, innovative life product can provide guaranteed lifetime protection along with the […]

Does your client have the right type of life insurance?


Attorneys, accountants, life insurance agents, and other financial services professionals constantly are required to provide an opinion as to the efficacy of a policy for the particular client and to assist in selecting between competing policies.  When it comes to evaluating life insurance products, above all, the goal always should be to match the product to […]

How will annuities fit in portfolios in a fiduciary world?

{July 29th, 2016} by Chris Orlando

The annuity space has always raised red flags, from tax-free exchange rules, to suitability, to whether index annuities are securities, to the new fiduciary rule. At every turn, annuities are scrutinized. But as I see it, there are no bad financial products or good financial products – it is how a financial professional uses a […]

U.S. employers slow to offer annuities and insurance-backed products

{July 29th, 2016} by Lifehealthpro Editors

U.S. employers that sponsor defined contribution (DC) retirement plans are beginning to embrace lifetime income solutions to help employees improve their financial security in retirement, according to a new Lifetime Income Solutions Survey by Willis Towers Watson, a global advisory, broking and solutions company. Lifetime income solutions include education and the tools necessary to help […]

Fidelity Investments® Adds New York Life Fixed Annuity to Product Lineup

{July 28th, 2016} by Fidelity Brokerage Services

BOSTON–(BUSINESS WIRE)–Fidelity Investments® announced that the New York Life Clear Income Fixed Annuity – FP Series will be made available as part of Fidelity’s product portfolio. The new product is a fixed deferred annuity with a guaranteed lifetime withdrawal benefit that provides customers with guaranteed1 income throughout retirement along with greater flexibility in the form […]

Brokerage groups’ higher spending on lobbying doesn’t kill DOL fiduciary rule

{July 27th, 2016} by Mark Schoeff Jr.

Trade associations representing the brokerage and insurance industries once again heavily outspent investment adviser groups on lobbying lawmakers in the second quarter, but the advantage hasn’t succeeded in killing a Labor Department investment advice regulation. Organizations that have most stridently opposed the measure, which would raise advice standards for retirement accounts, have also spent the […]

Little-known, AAA-rated firms are beating the insurance giants

{July 27th, 2016} by Katherine Chiglinsky

(Bloomberg) — Are shareholders bad for business? More and more, the answer in the U.S. life insurance industry is turning out to be a resounding “yes.” Since 2008, publicly traded insurers have seen their share of the $4 trillion market shrink vis-à-vis mutual companies, according to data compiled by Bloomberg Intelligence. The trend has been particularly […]

Western & Southern Life Introduces New Whole Life Product

{July 26th, 2016} by Western & Southern Life

CINCINNATI — July 21, 2016 — Aiming to capitalize on a growing demand for whole life insurance, The Western and Southern Life Insurance Company (Western & Southern Life) has introduced Simple Choice Whole Life. This whole life insurance product with optional paid-up additions riders provides protection for loved ones while building cash value. According to […]

New Allianz Life Study Shows Strong Interest for Financial Solutions that Offer Opportunity for Increasing Income

{July 26th, 2016} by Allianz

MINNEAPOLIS–(BUSINESS WIRE)–In order to help address the risks caused by inflation, many Americans are looking to financial products that not only provide guaranteed income in retirement, but also offer the opportunity for their income to increase, according to a new study* by Allianz Life Insurance Company of North America (Allianz Life®) that explores Americans’ perceptions […]

Eighty Six Percent of Insurance Professionals Believe the Industry is Making Strides Toward Achieving Gender Equality

{July 26th, 2016} by Insurance Industry Charitable Foundation

IICF Study: More Active Recruitment of a Gender-Diverse Workforce Plays Key Role New York (July 26, 2016) – The insurance industry is demonstrating significant progress when it comes to gender equality, according to 86 percent of women attending the Insurance Industry Charitable Foundation’s (IICF) 2016 Women in Insurance Conference Series. The study, which was conducted […]

Allianz Life exec: Index variable annuities address market volatility fears

{July 26th, 2016} by Kristen Beckman

Allianz Life Insurance Co. of North America is one of the country’s largest annuity providers. The company ranked fourth (up from fifth place last year) on LIMRA Secure Retirement Institute’s first-quarter 2016 ranking of annuity providers with $3.3 billion in annuity sales. The company’s focus on fixed annuities helped propel it into a top-five spot on […]

Regulations Batter Independent Agent Channel

{July 26th, 2016} by Cyril Tuohy

Over the next two years, the insurance broker-dealer channel is expected to overtake the independent agent channel as the favored conduit for the sale of life insurance and annuities in the eyes of insurance companies, according to a new report. The insurance broker-dealer channel surpassing the independent agent segment is a sign that regulation is […]

5 alternatives to Indexed Universal Life insurance


Insurers and policyowners can configure an Indexed Universal Life (IUL) policy’s premium payments and death benefits to resemble virtually any type of life insurance policy, from annually-renewable term to single premium whole life. Consequently, any other type of policy that meets a policyowner’s needs is a suitable, and perhaps preferable alternative if the policyowner does […]

U.S. Chamber: DOL overstepped its authority with fiduciary rule

{July 26th, 2016} by Melanie Waddell

The Department of Labor, in finalizing its fiduciary rule, “has sought to transform the financial services and insurance industries, stepping far beyond its authority” under the Employee Retirement Income Security Act and the IRS Code governing individual retirement accounts, the U.S. Chamber of Commerce argues in latest brief filed Monday in federal court in Texas.   […]

The top 50 life & health insurance companies of 2016

{July 26th, 2016} by Emily Holbrook

Statistics can tell a lot, not only about the financial health of companies, but also how they stack up against one another. In this annual feature, we take the pulse of 50 top-ranking life and health insurers when measured against four key metrics: net investment income, total enrollment (health lines only), policyholder surplus and net […]

Insurers seek more time to comment on new capital requirements

{July 26th, 2016} by Arthur D. Postal

WASHINGTON — The insurance industry is asking the Federal Reserve Board of Governors for more time to respond to a request for comments on regulatory capital requirements that the agency would impose on insurers designated as systemically significant and those that operate thrift holding companies. The request was made July 6 by the American Council of Life Insurers […]

Why consumers’ attitudes toward life insurance are changing

{July 26th, 2016} by Ed McCarthy, CFP, RICP

It’s impossible to predict if and how estate taxes could change under a new president and Congress, but for 2016, at least, married clients with joint estates under $5.45 million still fall under the taxable threshold. States’ estate taxes are another story, of course, and can still require planning. The liquidity that life insurance provides […]

How do I find the right IUL marketing partner?

{July 26th, 2016} by Greg Stein

The Challenge… by Greg Stein I’m researching independent marketing organizations and field marketing organizations in search of a partner with a great indexed universal life platform. Qualities that are important to me in a partner are knowledge and understanding of the product, marketing and lead generation, and internal support. What are some strategies for finding […]

MetLife to divest U.S. life business, rebrand as Brighthouse

{July 25th, 2016} by IFAwebnews Staff

MetLife announced that it will rebrand its U.S. life insurance business as Brighthouse Financial after it is divested from the firm in the coming months. A timeline regarding the structure and timing of the separation has not been announced. U.S. life insurance has been the company’s main business for more than a century and contributed […]

Who has skin in the presidential race? Not insurers!

{July 22nd, 2016} by Editorial Staff

Only 2% of insurers believe that the outcome of this year’s presidential race between Democrat Hillary Clinton and Republican Donald Trump will matter much to the fortunes of their industry. They’re much more worried about low interest rates, according to a new A.M. Best Special Report titled “A.M. Best Spring 2016 Insurance Industry Survey.” The report […]

Heightened mortality, DOL rule take toll on life/annuity sales

{July 22nd, 2016} by Kristen Beckman

The U.S. Department of Labor rule affected sales of life and annuity products during the first quarter, according to new research released by rating services company A.M. Best. Sales of variable annuitiesdropped 18 percent during the quarter and saw $5.6 billion net transfer out of separate accounts. Individual annuities continue to make up the majority […]

Broker-dealers expected to overtake independent agent channel in life insurance sales

{July 21st, 2016} by Lyle Adriano

According to a recent report, insurers will be more likely to choose the insurance broker-dealer channel to sell life insurance and annuities instead of the independent agent channel in the next two years. The report, entitled “Life and Annuities: Shifting to Direct-to-Consumer Channels,” suggests that strict regulation has taken its toll on independent commission-based insurance […]

Why millennials are attracted to the RIA model

{July 21st, 2016} by Michelle Zhou

For millennials, financial literacy is under taught and its value under appreciated, says Julia Buchholz, a senior at the University of Illinois Urbana-Champaign. Buchholz wants to change that by becoming a financial planner – a welcome move for an industry that is facing adviser shortages and a dearth of young talent. “The RIA industry has […]

Low interest rates make some fixed-index annuities shine

{July 21st, 2016} by Andrew Murdoch

This is an unusually tricky time to be a prospective annuity buyer. Previously low interest rates have slipped further, to subterranean depths, illustrated by the fact that the yield of the benchmark 10-year U.S. Treasury note closed at a record low 1.37% in early July. The conundrum is this: Experts have consistently said that ultra-low […]

MetLife shelves 148-year-old U.S. retail brand for ‘Brighthouse

{July 21st, 2016} by Katherine Chiglinsky

(Bloomberg) — MetLife Inc., the New York-based insurer that traces its roots to the 1860s, said it’s come up with a new name for a U.S. retail unit that’s slated for separation. The business will be known as Brighthouse Financial once it’s broken off from the parent company, MetLife said Thursday in a statement. MetLife said […]

Financial Advisors Grow Business In LGBT Market

{July 20th, 2016} by Karen Demasters

Financial advisors can find new opportunities for helping individuals and couples with their financial planning in the LGBT community, says LIMRA, a global research and educational organization for the financial industry. Members of the lesbian, gay, bisexual and transgender community have seen positive changes for themselves in recent years, but these changes may give rise […]

Who likes robo-advisors? Not these people

{July 20th, 2016} by Marlene Y. Satter

Data from two retirement providers indicates that the appetite for automated retirement advice is low The finance industry may be going robo, but that doesn’t mean that’s exactly what the client wants. In fact, independent data from two retirement providers indicates that the country’s appetite for full robo retirement advice is low. A Northwestern Mutual […]

NCOIL Committee Urges Repeal Of Fiduciary Rule

{July 20th, 2016} by NCOIL

    For Immediate Release DATE: July 20, 2016 Contact: Paul Penna (732) 201-4133   NCOIL FINANCIAL SERVICES COMMITTEE PASSES RESOLUTION URGING REPEAL OF DEPARTMENT OF LABOR FIDUCIARY RULE Threat to Proven State Based Regulation of Insurance Manasquan, NJ – The NCOIL Financial Services & Investment Products Committee passed a resolution sponsored by Arkansas Senator Jason Rapert […]

How Lapsing A Life Insurance Policy With A Loan Can Cause A Tax Bomb

{July 20th, 2016} by Michael Kitces

Life insurance serves a valuable social purpose, allowing families to protect themselves against the economic consequences of an untimely death of a breadwinner. In fact, life insurance is viewed as such a positive that Congress provides significant tax preferences for insurance policies, including tax-deferral on any growth in the cash value, and a tax-free death […]

The top 4 life insurance brands of 2016

{July 19th, 2016} by LifeHealthPro Editors

State Farm takes Brand of the Year honors in the home and life insurance categories, holding steady in its equity ratings as the insurance category overall experiences declines, according to The Harris Poll 2016 EquiTrend Study. The 28th annual study awards the strongest brands in nearly 100 categories across the media, travel, financial, automotive, entertainment, […]

Prudential fined after 89-year-old customer’s annuity is raided

{July 19th, 2016} by Wire Service

Bloomberg News A Prudential Financial Inc. unit was fined by the Financial Industry Regulatory Authority for overlooking warning signs that an LPL Financial Holdings Inc. salesman was stealing about $1.3 million from an 89-year-old client’s variable-annuity account. Travis Wetzel, a former LPL sales assistant in Maryland, transferred money from the customer to a bank account […]

Advisers asking DOL for clarification on fiduciary rule’s impact on compensation

{July 19th, 2016} by Mark Schoeff Jr.

Agency official discusses top adviser questions and says additional guidance is on the way More than three months after the Labor Department released a final rule to raise investment advice standards for retirement accounts, some advisers are expressing worry about how the measure will affect pay incentives, according to an agency official. “The biggest concern […]

Enhanced financial modeling software available for U.S. life insurers

{July 19th, 2016} by GlobeNewsWire

ARLINGTON, Va., July 19, 2016 (GLOBE NEWSWIRE) — Willis Towers Watson (WLTW), a leading global advisory, broking and solutions company, today announced the availability of its updated U.S. Library of Applications, version 3.1, designed for the financial modeling of life insurance, annuity and long-term care products. U.S. Library 3.1 provides a broad array of new […]

10 advantages of term life insurance


Term life insurance is among the devices that people should consider when they want to provide an immediate estate for loved ones after their death. Although term insurance is not always the most effective type of life insurance for all of a client’s death benefit needs, it can be useful in many circumstances. Since term […]

Life insurance policy reviews: 6 key questions explored

{July 19th, 2016} by Warren S. Hersch

Reviewing a client’s or prospect’s life insurance coverage needs might seem straightforward. But too often, agents and advisors overlook critical questions that can result in a poor product recommendation — one that fails to meet income replacement, living benefit, wealth transfer or other planning needs. To get better acquainted with policy review issues, LifeHealthPro interviewed Palmer Williams, […]

4 misconceptions about marijuana and life insurance

{July 19th, 2016} by Jeff Root

With just about half of America’s states legalizing marijuana use for medicinal purposes, insurance carriers have changed their underwriting approach for these types of cases. With the changing times comes a big gray area and a lot of misconceptions. Click HERE for four of them


{July 19th, 2016} by NCOIL

For Immediate Release July 19, 2016 Contact: Paul Penna (732) 201-4133 Discussed Challenges Facing State Based Regulation, Committees Met to Discuss Important Issues in the States, Heard from Speakers on Timely Issues and Readopted Model Laws   Manasquan, NJ: – The National Conference of Insurance Legislators yesterday concluded the 2016 Summer Conference at the Downtown […]

Suicide Insurance: A New Product With Broader Market Applications

{July 19th, 2016} by InsuranceNewsNet

Suicide insurance is relatively new to the market. There are two main areas in which it can be used. It is essentially used to protect third parties from net losses resulting from an individual’s suicide death, in a situation where the third party has advanced money to the deceased individual such as in the case […]

Bankers Life Launches Guaranteed Lifetime Income Annuity

{July 19th, 2016} by PRNewswire

CHICAGO, July 18, 2016 /PRNewswire/ — Bankers Life and Casualty Company, a national life and health insurer, today announced a new addition to its portfolio of annuity products, Guaranteed Lifetime Income Annuity (GLIA). GLIA is a single-premium fixed indexed annuity designed to provide customers with a safe and reliable retirement savings solution that can help accumulate […]

Survey Results Expose Insurance Industry Training Needs On the Rise Due to DOL Fiduciary Standard Rule

{July 19th, 2016} by Insurance Insight Group

Park City, UT (July 19, 2016) – Insurance Insight Group (IIG) conducted a survey of company executives and financial professionals that reveals significant changes are anticipated within the insurance industry as the DOL fiduciary rule applicability date of April 2017 nears. The survey exposed financial professionals’ opinions on anticipated changes to their practices, marketplace and […]

A ‘Saw-Tooth’ Pattern to Cut Risk, Increase Returns

{July 19th, 2016} by Michael Tove

How fixed indexed annuities can achieve three specific goals to preserve and grow your client’s qualified retirement account. Central to the Department of Labor’s fiduciary rule is the preservation and growth of qualified retirement accounts such as individual retirement accounts and 401(k)s. Specifically, achieving a best practices result should focus on three particular goals: 1. […]

Insurance Industry Must Confront Data Breaches on Two Fronts

{July 18th, 2016} by Gary S. Miliefsky

While protecting others from a menu of breaches, industry must also protect itself The overwhelming number of data breaches over the last few years has every private company and government agency desperately trying to guard its system against cyber criminals. But unlike most other professions, the insurance industry is affected in two ways by the threat. […]

Allianz Life Community Impact Tops $1.9 Million and Employees Volunteer 15,500 Hours for Local Nonprofits

{July 18th, 2016} by Allianz Life

MINNEAPOLIS–(BUSINESS WIRE)–Allianz Life Insurance Company of North America (Allianz Life®) announced in its annual Giving and Volunteerism Report that nearly 1,500 employees volunteered 15,500 hours, an increase of 2,500 hours compared to 2014. Together with corporate grants, vendor contributions and employee donations, the company impact totaled $1.9 million to make a difference in the lives […]

DOL fiduciary rule: Disruption or opportunity? Opinion

{July 18th, 2016} by Anton Honikman

Most coverage of the Department of Labor’s (DOL) fiduciary rule has focused on the challenges it will introduce for firms, such as increased costs, compliance and margin pressure. However, as we all know, within any challenge there lies opportunity.  With today’s new challenge, industry leaders will take the opportunity to go beyond the basics of the […]

Warren Buffett Reveals His Best Insurance Investment in the July Issue of Best’s Review

{July 18th, 2016} by Best's News Service

CONTACTS:   Patricia Vowinkel Executive Editor, Best’s Review +1 908 439 2200, ext. 5540 patricia.vowinkel@ambest.com   FOR IMMEDIATE RELEASE OLDWICK – JULY 18, 2016 In an interview with Best’s Review®, Warren Buffett says he made one of his best investments when he chose Ajit Jain to run his reinsurance business nearly 30 years ago. Jain, […]

How do I choose the right marketing organization?

{July 15th, 2016} by LifeHealthPro

The Challenge…by Charlie Schrantz  I’m shopping for a large IMO to help with my life and annuity case designs. What is the best way to research IMOs so I can choose the best one for my needs? In addition to asking for higher commission payout and support, are there specific questions I should be asking? […]

Report flags top 5 threats facing insurers

{July 15th, 2016} by LifeHealthPro Editors

Approximately three-fourths of insurers surveyed have lowered their target return-on-equity expectations to 10 percent or lower, a reflection of highly competitive market conditions remaining and the slow-growth economy, according to a new A.M. Best special report. The report, “A.M. Best Spring 2016 Insurance Industry Survey,” assesses insurers’ opinions on a number of key themes, including market conditions, […]

A.M. Best Affirms Ratings of New York Life Insurance Company and Its Subsidiaries

{July 15th, 2016} by Best's News Service

CONTACTS:   Igor Bass Financial Analyst +1 908 439 2200, ext. 5109 igor.bass@ambest.com Ken Johnson, CFA, CAIA, FRM Vice President +1 908 439 2200, ext. 5056 ken.johnson@ambest.com Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com Jim Peavy Assistant Vice President, Public Relations +1 908 439 2200, ext. 5644 james.peavy@ambest.com FOR IMMEDIATE […]

New MassMutual Firm Now Open in Iselin

{July 14th, 2016} by PRNewswire

ISELIN, N.J., July 12, 2016 /PRNewswire/ — MassMutual Tri State is pleased to announce that it is now affiliated with Massachusetts Mutual Life Insurance Company (MassMutual). MassMutual Tri State is located at 186 Wood Avenue, Suite 301 in Iselin, New Jersey. The affiliation follows an announcement by MassMutual and MetLife on July 1st, 2016 that […]

Lincoln: Commissions Can Be Best Deal For Consumers

{July 14th, 2016} by Cyril Tuohy

Is it in the best interest of a mutual fund investor to pay a broker a 1 percent annual fee on invested assets of $100,000 in a retirement account? Or is a 4.5 percent up front commission and .25 percent annual trail commission on $100,000 variable annuity with a lifetime income rider in the best […]

Analysts Expect Sunnier 2Q For Life Insurers

{July 14th, 2016} by Cyril Tuohy

Fewer deaths, higher fees and higher investment income are expected to help life insurance companies post better results in the second financial quarter than they did in the first quarter, a pair of Wall Street analysts said. With 149,000 deaths in the second quarter, down from 161,000 deaths in the first quarter, insurance companies likely […]

Robo advisor, meet millennial advisor

{July 14th, 2016} by Lori Widmer

Thomas Forbes thinks the robo-advisor is an interesting evolution for the insurance and financial planning industry. Forbes, associate financial representative for Northwestern Mutual in Los Angeles, sees the rise of the robo-advisor as both a challenge and an opportunity. “It makes sense to where we are today in the world. I think it will slowly […]

Insurance regulators respond to ongoing low interest rates

{July 14th, 2016} by Arthur D. Postal

WASHINGTON — State insurance regulators are considering or phasing in a number of changes aimed at allowing the life insurance industry to cope with what appears will be a protracted period of low interest rates. Bloomberg News said Tuesday that traders are pricing in “little chance of an interest rate hike in July by the Federal […]

A.M. Best Affirms Ratings for Sammons Financial Group, Inc. and its Subsidiaries

{July 14th, 2016} by Best's News Service

CONTACTS: Anthony McSwieney Senior Financial Analyst +1 908 439 2200, ext. 5715 anthony.mcswieney@ambest.comWilliam Pargeans Assistant Vice President +1 908 439 2200, ext. 5359 william.pargeans@ambest.com Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.comJim Peavy Assistant Vice President, Public Relations +1 908 439 2200, ext. 5644 james.peavy@ambest.com FOR IMMEDIATE RELEASE OLDWICK – JULY […]

6 annuity guaranteed minimum living benefit riders

{July 14th, 2016} by Kristen Beckman

It has been nearly 20 years since the first guaranteed minimum living benefit (GMLB) riders were introduced on variable annuity contracts. Before that, principal protection was only offered in case of death. Since then, different types of living benefit riders have been introduced, and these options have become popular on both variable and fixed index […]

The ABC’s of the DOL fiduciary rule: BLOG

{July 13th, 2016} by Anthony Domino, Jr.

A casual reading of any financial publication recently is certain to have a headline featuring three letters: D – O – L. What they are referring to is the U. S. Department of Labor Conflict of Interest Rule, popularly referred to as the fiduciary rule. The culmination of a long tussle between regulators and professional […]

Milliman Survey Reveals Reactions to UL/IUL Regulatory Changes

{July 13th, 2016} by PRNewswire

SEATTLE, July 12, 2016 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, today released new results from participants in its annual comprehensive study of universal life (UL) and indexed universal life (IUL) issues, namely, the reaction of issuers of universal life products to recent and upcoming regulatory changes. Principle-based reserves (PBR) will […]

Why women are more likely than men to face poverty after retirement

{July 13th, 2016} by Associated Press

CHICAGO — During their working years, women tend to earn less than men, and when they retire, they’re more likely to live in poverty.  These are women who raised children and cared for sick and elderly family members, often taking what savings and income they had and spending it on things besides their own retirement […]

Broker-dealers eye level commissions to reduce risk under DOL fiduciary rule

{July 13th, 2016} by Greg Iacurci

Such a strategy is meant to reduce the appearance of a conflict of interest when using commission products in retirement accounts     Broker-dealer executives are strongly considering a strategy whereby investment products with similar characteristics would have the same commission schedule as a way to reduce risk under a new Labor Department rule that […]