Nationwide: Controversial Super Bowl Ad Meant to ‘Start a Conversation’
{February 3rd, 2015} by Michael Buck, senior associate editor, BestWeek: Michael.Buck@ambest.com
COLUMBUS, Ohio – Although a Super Bowl spot aired by Nationwide Mutual Insurance Co. that intended to highlight child safety whipped up negative feedback from consumers online, the insurer hopes it started a conversation that will help save lives, according to a statement. The commercial, which was styled on YouTube as “Make Safe Happen,” features […]
TIAA-CREF Survey: Americans Want Monthly Retirement Paycheck But Don’t Know How to Get It
{February 3rd, 2015} by Business Wire
Only 14 percent have taken steps to secure lifetime income NEW YORK–(BUSINESS WIRE)–A new survey from TIAA-CREF reveals that Americans understand the importance of receiving guaranteed monthly income in retirement. However, their strategy for achieving that goal may be missing the mark: The vast majority of Americans (84 percent) said that having a guaranteed monthly […]
Alternative Brokerage Appoints Harry Stout to Board of Directors
{February 3rd, 2015} by Siobhan McNulty
Des Moines, IA – Alternative Brokerage, LLC, an annuity, life insurance, and alternative insurance product wholesaler, is pleased to announce that Harry N. Stout has joined its Board of Directors. Stout is the Managing Director and Chief Executive Officer of Insurance Insight Group, a marketing and recruiting strategy and training consulting firm serving the life insurance […]
Industry’s Biggest Opportunity: Helping Fund Retirement
{February 3rd, 2015} by Arthur D. Postal, arthur.postal@innfeedback.com
WASHINGTON – The biggest growth opportunity for life and annuity carriers could be helping consumers generate sufficient savings and income for retirement. That’s according to Deloitte’s 2015 life and annuity industry outlook. This growth opportunity, Deloitte said, stems from the aging U.S. population, improved health care and lengthening lifespans. However, the report continues, because of […]
Industry Will Lose 300 More B/Ds By 2016
{February 3rd, 2015} by Diana Britton, Penton Business Media
Though the closure rate of FINRA-registered broker/dealers is slowing down, the number of firms is expected to decline from 4,154 at the end of last year to 3,800 by the end of 2016, said David Alsup, founder of Fishbowl Strategies. Regulatory and compliance burdens will force smaller shops out of business or into the hands […]
Earning Credentials In LGBT Planning
{February 3rd, 2015} by Olivia Mellan, Sherry Christie
What holds back same-sex couples with good incomes from working with financial planners? Conflicting chemistry may be a concern, suggested planner Sharon Rich, president of Womoney in Belmont, Massachusetts. But a key factor, she pointed out, could be that they’re “looking for someone who understands that they may face complex issues, such as their state’s […]
Principal Posts Higher Profit, Revenue
{February 3rd, 2015} by George C. Ford, The Gazette, Cedar Rapids, Iowa
Jan. 30–Principal Financial Group, with operations in downtown Cedar Rapids, on Friday posted higher fourth-quarter and annual earnings and revenue. The Des Moines-based insurance and investment management company recorded fourth-quarter net income of $270.4 million, or 91 cents per share, up 16 percent from $233.4 million, or 78 cents per share, for the same quarter […]
Principal Financial CEO: Two-Thirds of Earnings Now Generated From Fee-Based Businesses
{February 3rd, 2015} by Fran Matso Lysiak, senior associate editor, BestWeek: fran.lysiak@ambest.com
DES MOINES, Iowa – Two-thirds of Principal Financial Group Inc.’s earnings are now generated from its fee-based businesses, said its chief executive officer as the company’s fourth quarter and year-end 2014 profits increased. Each of the company’s four operating businesses had record earnings for the year, Larry D. Zimpleman, chairman and CEO, said during the […]
Why Carriers Like Lump Sum Payouts
{February 3rd, 2015} by Cyril Tuohy, cyril.tuohy@innfeedback.com
Financial advisors who keep track of the proliferation of living benefits riders tacked onto life insurance policies may have asked themselves why so many insurance carriers recently are trumpeting the benefit of a lump sum payment. Insurance carriers have announced lump sum options with terminal and critical illness riders, and even with chronic illness riders […]
LIMRA: Teach your clients to budget
{February 3rd, 2015} by LIMRA
Americans tell researchers they want to save more for retirement but their best intentions are falling far short. A first step to improve saving may begin with better budgeting. When LIMRA asks consumers what they need for financial education, a quarter of them say budgeting skills. Among middle market consumers 52 percent listed developing a […]
Brokerage Firm Initiation and Price Target on American Equity Investment Life Holding
{February 3rd, 2015} by Thomas Lindt
American Equity Investment Life Holding (NYSE:AEL): American Equity has been initiated with a Hold at Jefferies. The Brokerage Firm has set a Price Target of USD 30.American Equity Investment Life Holding (NYSE:AEL): 3 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $27.67 in American Equity Investment Life […]
Prepare Now For Digital Disruption
{February 2nd, 2015} by Linda Koco, linda.koco@innfeedback.com
Which “digital disruptors” are going to try to eat the lunch of the established players in insurance? If you ask life and annuity advisors, many will answer “maybe Google or Amazon,” because they’ve heard these giants are warming up to insurance. But advisors often draw a blank on other digital “outsiders.” They just don’t see […]
NAIFA President: ‘Disappointed’ Budget Proposes Tax Hikes on Life Industry
{February 2nd, 2015} by Jeff Jeffrey, Washington Bureau manager: jeff.jeffrey@ambest.com
WASHINGTON – The National Association of Insurance and Financial Advisers is criticizing a White House Proposal to increase taxes on the life insurance industry. President Obama’s proposed budget for the 2016 fiscal year includes a number of provisions that would alter rules on life insurers, which the White House said would save taxpayers $31.1 billion […]
AIG Introduces Insurance To Cover Celebrity Endorsement Risks
{February 2nd, 2015} by Business Wire
NEW YORK–(BUSINESS WIRE)– American International Group, Inc.’s (AIG) Commercial Insurance division today announced the introduction of Celebrity Product RecallResponse®, a new insurance product designed to help customers respond to risks from a celebrity endorser’s public fall from grace, scandal, or unexpected death. Provided through AIG’s Lexington Insurance Company, the largest domestic excess and surplus lines […]
Protective Announces Completion of Acquisition By Dai-ichi Life
{February 2nd, 2015} by Protective Life Corporation
BIRMINGHAM, Ala.–(BUSINESS WIRE)–Protective Life Corporation (NYSE: PL) (“Protective”) today announced the completion of the acquisition of Protective by The Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”) in accordance with the terms of the previously announced Agreement and Plan of Merger dated June 3, 2014, among Protective, Dai-ichi Life and DL Investment (Delaware), Inc., a wholly […]
With Membership Dropping, NAIFA Plans To Fight Back
{February 2nd, 2015} by Cyril Tuohy, cyril.tuohy@innfeedback.com
National Association of Insurance and Financial Advisors President Juli Y. McNeely said that boosting the organization’s membership base to about 42,000 members is a realistic goal, as NAIFA looks to recruit more deeply in the ranks of independent advisors. Membership is estimated at between 37,000 and 38,000 members. NAIFA officials project that the association will […]
Boomer demand for annuities to stay high despite low rates
{February 2nd, 2015} by Joyce Hanson
Boomers are good for annuities. The annuities market experienced a good year for growth in 2014, despite interest rate headwinds, and 2015 shows signs of continued strength as boomers look for retirement income, issuers seek product innovations and 401(k) plans offer deferred-income annuities in target-date funds now that the U.S. Treasury Department has given them […]
New Indexed Annuities Grab Market Share as Banks Jump In
{February 2nd, 2015} by Bloombery News
(Bloomberg) — Buyers of U.S. annuities are clamoring for new products linked to indexes that may use elaborate strategies to control risk, attracting regulatory scrutiny as they widen a market that favors more traditional structures. A total of 27.7 percent of indexed annuities sold in the third quarter of last year are tied to measures […]
