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Archive for June 2018

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  • Wink’s New and Improved AnnuitySpecs

    {June 30th, 2018} by Wink's RockStars

      Introducing…the NEW and IMPROVED AnnuitySpecs tool! Don’t freak-out when you log-in. Basically, everything has changed. Again, remain calm. Rest assured that the Wink staff is here to help you. First, we added Structured Annuities (also known as collared annuities, buffered annuities, indexed variable annuities, etc.) as well as traditional Variable Annuities (VAs) to AnnuitySpecs. […]

    ‘My silence has been crushing’: Readers react to sexual harassment story

    {June 30th, 2018} by Kerri Anne Renzulli

    It’s no secret the financial services industry is predominately male. The number of female CFP professionals plateaued at 23% nearly 15 years ago and hasn’t moved. Much of the problem stems from how women are treated, says Financial Planning contributing writer and advisor Michael Kitces. Click HERE to read the original story via Financial Planning. In his […]

    ‘Income Later’ VA Sales Rebounded Following Demise of DOL Fiduciary Rule

    {June 30th, 2018} by LIMRA

    New LIMRA Secure Retirement Institute (LIMRA SRI) research, examining variable annuity (VA) sales by investment objective, finds VAs designed to provide ‘income later’ through guaranteed living benefit (GLB) riders have rebounded to reach $10.2 billion in the first quarter of 2018. LIMRA SRI has identified three investment objectives categories for different VA products based on […]

    Athene expresses interest in GE insurance assets

    {June 30th, 2018} by Bloomberg

    NEW YORK • Athene Holding Ltd, an annuity seller with ties to Apollo Global Management LLC, expressed interest in buying some or all of General Electric Co’s (GE) insurance business, according to a person familiar with the matter who asked not to be identified because the talks are private. GE announced on Tuesday that it was […]

    New Athene Annuity Comes With Income Feature Built-In

    {June 27th, 2018} by Cyril Tuohy

    Athene’s new Agility index annuity’s lifetime income and enhanced death benefit features come without a separate product fee. And that makes it an unusual product in today’s annuity marketplace. Lifetime income features and more generous death benefits are typically offered as optional riders that usually come at an extra cost. Click HERE to read the […]

    KBRA Assigns Insurance Financial Strength Rating of A- to Knighthead Annuity & Life Assurance Company

    {June 26th, 2018} by Kroll Bond Rating Agency

    NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns an insurance financial strength rating of A- with a Stable Outlook to Knighthead Annuity & Life Assurance Company (Knighthead Annuity). Knighthead Annuity provides fixed annuity products to a non-U.S. client base, sold by regulated financial institutions, and provides reinsurance solutions of similar products to U.S.-based insurers. The […]

    Using Annuities to Prep Clients for the Next Recession

    {June 26th, 2018} by Eric Henderson

    After nearly a decade of the stock market seeming to only go up, individuals saving and investing for retirement have been lulled into complacency. As a result, retirement savers, particularly those nearing retirement, are neglecting to protect their future income stream and keeping more money in equities as they look to ride out this bull […]

    MetLife Said to Join AXA, MassMutual in Pursuing Hong Kong Sale

    {June 26th, 2018} by Jonathan Browning

    MetLife Inc. is seeking a sale of its Hong Kong insurance unit, joining international rivals including AXA S.A. and MassMutual that have pursued divestments in the Chinese territory, people with knowledge of the matter said. New York-based MetLife is preparing to send out information on the Hong Kong business to prospective buyers in the next couple weeks, according to the […]

    NY Department of Financial Services Issues Updated Proposal Adopting a “Best Interest” Standard for Life Insurance and Annuity Product Transactions, Including for In-Force Transactions

    {June 26th, 2018} by Vedder Price

    The New York State Department of Financial Services (DFS) has amended its proposal to adopt a “best interest” standard for those licensed to sell life insurance policies and annuity contracts. Among other things, the proposed rule, which would amend New York’s current suitability regulation, Insurance Regulation 187 (11 NYCRR 224), would require insurance companies to […]

    Where women in finance see a gender gap, men don’t

    {June 26th, 2018} by Caroline Fairchild

    Female finance workers believe they don’t have the same opportunity as their male peers when it comes to career advancement and pay. Men in the industry see a very different picture. This disconnect emerges in our survey, in partnership with CNBC’s Closing The Gap series, on the state of gender in the finance industry. We received […]

    DON’T ASSUME PROSPECTS KNOW ANNUITIES, Reprint

    {June 26th, 2018} by Sheryl J. Moore

    DON’T ASSUME PROSPECTS KNOW ANNUITIES April 21, 2013 by Sheryl J. Moore By Sheryl J. Moore, President and CEO of Moore Market Intelligence, an indexed product resource in Des Moines, IA.   I was speaking to a health insurance agent today who was looking for information on life insurance and annuities. He was genuinely interested […]

    A SOURCE OF HEADACHES: “SOURCE OF FUNDS” Reprint

    {June 26th, 2018} by Sheryl J. Moore

    A SOURCE OF HEADACHES: “SOURCE OF FUNDS” July 16, 2013 by Sheryl J. Moore One of today’s most widely-miscommunicated issues is the fixed annuity market’s “Source of Funds” matter. The issue? It’s figuring out where the prospective purchaser of a fixed or indexed annuity is getting his or her money from, so they can use […]

    To 1035 or not to 1035? Reprint

    {June 26th, 2018} by Sheryl J. Moore

      To 1035 or not to 1035? June 6, 2013 by Sheryl J. Moore Lately, I’ve been receiving a lot of questions about whether, or not, I have concerns about 1035 exchanges in the current interest rate environment. Why? Maybe you missed the memo, but you are currently selling annuities in the worst interest rate […]

    Sallie Krawcheck Slams the ‘Man-tocracies’ of Wall Street

    {June 26th, 2018} by Emily Zulz

    Sallie Krawcheck is questioning the meritocracies of Wall Street — or, as she’s calling it, the “man-tocracies.” As Krawcheck describes them, meritocracies are like the “apple pie of capitalism.” A meritocracy is a system in which the talented are chosen and moved ahead on the basis of their achievement. Click HERE to read the original story […]

    SEC Releases Another Updated FAQ on Custody Rule

    {June 26th, 2018} by Melanie Waddell

    The Securities and Exchange Commission has issued another frequently-asked-questions guidance on the custody rule, with the agency’s Investment Management division seeking to clarify, among other issues, previous guidance on inadvertent custody. New to this custody rule FAQ – which Cipperman Compliance Services argues has been updated by the SEC dozens of times – are FAQs regarding the […]

    Indexed Annuities Star in 5th Circuit DOL Fiduciary Rule Opinion

    {June 25th, 2018} by Allison Bell

    The new U.S. Department of Labor fiduciary rule ruling from the 5th U.S. Circuit Court of Appeals is a vindication for insurers, distributors and agents who are active in the indexed annuity market. A three judge panel at the 5th U.S. Circuit Court of Appeals today ruled 2-1 that the DOL rule is invalid, in […]

    Indexed Annuity Issuers Wants Slice of 401(k) Default Option Market

    {June 25th, 2018} by Allison Bell

    Two years ago, the U.S. Department of Labor was fighting to put indexed annuities in the retirement services doghouse. Now, issuers are hoping they can persuade DOL officials to let managers of 401(k) plans and other types of defined contribution plans use indexed annuities as qualified default investment alternative (QDIA) options. Elizabeth MacGowan, a vice […]

    SECURITY BENEFIT’S RATETRACK® ANNUITY WINS WINK’S 2017 EXCELLENCE IN ANNUITY INNOVATION AWARD

    {June 25th, 2018} by Security Benefit Life Insurance Company

    TOPEKA, Kan., June 21, 2018 (GLOBE NEWSWIRE) — Independent market research firm Wink, Inc. has named Security Benefit Life Insurance Company’s RateTrack® Annuity as its 2017 award winner for Excellence in Annuity Innovation. “We are truly honored that Wink has recognized the revolutionary product development that RateTrack represents,” remarked Mike Kiley, Chief Executive Officer of Security […]

    Symetra Steps Forward to Keep the Eastside Emergency Shelter for Women Open with $100,000 Donation to The Sophia Way

    {June 25th, 2018} by Symetra

    BELLEVUE, Wash.–(BUSINESS WIRE)–Symetra, a national provider of employee benefits, annuities and life insurance, has committed a $100,000 donation to The Sophia Way, a Bellevue, Washington-based nonprofit dedicated to helping end homelessness for single adult women in King County. The Symetra funding helped the organization re-open the Eastside emergency shelter for women earlier this month in […]

    Great American Life Launches New Website, Bringing New Opportunities to RIAs

    {June 25th, 2018} by Great American Insurance Group

    CINCINNATI–(BUSINESS WIRE)–Jun 25, 2018–Great American Life ® launched a new website to support the growing number of Registered Investment Advisors (RIAs) looking for alternative solutions to fixed income investments. At GreatAmericanRIA.com, advisors can explore innovative tools and resources that help evaluate the impact of introducing a fee-based annuity to their clients’ portfolios. Among the site’s highlights […]

    It’s official: DOL fiduciary rule is dead

    {June 25th, 2018} by Mark Schoeff Jr.

    After a long delay, the U.S. Fifth Circuit Court of Appeals confirmed Thursday a March decision to strike down the Labor Department’s fiduciary rule. The court issued a mandate making effective the March 15 split decision that vacated the DOL regulation. The court majority held that the agency exceeded its authority in promulgating the rule, which would […]

    Financial Fiduciary Certification Setting a New Standard of Excellence

    {June 25th, 2018} by The National Association of Certified Financial Fiduciaries

    FOR IMMEDIATE RELEASE [CHARLOTTE, N.C., June 25, 2018—]: The National Association of Certified Financial Fiduciaries (NACFF), an insurance/financial training organization, announced a new series of classes designed to officially validate financial advisors and insurance agents. This designation, known as Certified Financial Fiduciary (CFF)®, is reserved for those professionals who have successfully completed a rigorous certification […]

    National Life Group Foundation reveals $1.8 million in grants

    {June 25th, 2018} by The National Life Group Foundation

    Vermont Business Magazine The National Life Group Foundation granted a record total of $1.8 million this spring to nearly 200 charitable organizations primarily in Vermont and Texas, where National Life Group’s roughly 1,000 employees work. Some of the money will be spent launching a dedicated focus on tackling childhood hunger in Vermont, an initiative that will continue to […]

    ANNUITY AWARENESS MONTH EDITION

    {June 25th, 2018} by Wink's RockStars

       This week concludes our Annuity Awareness Month series. June’s is Annuity Awareness Month!  Annuity Awareness Month aligns perfectly with Wink’s top priority of ensuring that the public has the needed information and tools that are necessary, to succeed in their search for retirement plan and life insurance solutions. We are excited to have an event […]

    Supreme Court Sides With Retirement Planning Advisor

    {June 23rd, 2018} by Allison Bell

    The U.S. Supreme Court ruled 6-3 Thursday in favor of a retirement planning advisor who has been a strong advocate for use of annuities, and against the U.S. Securities and Exchange Commission, in connection with marketing compliance. But the court backed the advisor because of concerns about how the SEC had been appointing its administrative […]

    Million Dollar Round Table Brings the World to Los Angeles

    {June 23rd, 2018} by Allison Bell

    The Million Dollar Round Table is doing what it can to bring the insurance and investment professionals of the world together starting June 24 in Los Angeles. The Park Ridge, Illinois-based financial services sales representative networking group is expecting the event to draw about 15,000 members to the Los Angeles Convention Center for the four-day […]

    New Nonprofit: Don’t Let Grandma Run Out Of Money

    {June 23rd, 2018} by Cyril Tuohy

    For too long, the retirement discussion has focused on accumulating assets instead of protecting income for life. And the jargon surrounding annuities and other retirement products has confused consumers. Financial advisors need a new approach with which to engage clients about annuities, and a coalition of 24 insurers and asset managers has banded together to […]

    Why the super wealthy may want to fund life insurance with a loan

    {June 23rd, 2018} by Greg Iacurci

    Wealthy clients looking to use life insurance in their estate plans may find that funding their policies with a loan makes sense, especially as interest rates are still relatively low. The goal is to exploit low interest rates to get a cheap loan, which funds premium payments for a cash-value life insurance policy such as […]

    Obama-Era Investor Protection Rule Is Dead

    {June 22nd, 2018} by Tara Siegel Bernard

    Retirement investors, you’re back on your own. Just a year after it took partial effect, the so-called fiduciary rule — a requirement that financial professionals put their customers’ interests ahead of their own with retirement accounts — has effectively died. On Thursday, a federal appeals court dealt a final blow to the rule, legal experts […]

    Voices Death of fiduciary rule means death of trust

    {June 22nd, 2018} by Chris Ure

    Now that the Department of Labor fiduciary rule is officially dead, it is a sad day for the financial services industry and for investors who place their trust in Wall Street. This legislation was hardly a draconian measure and, frankly, Wall Street and the rest of the financial services industry should be ashamed of having lobbied so […]

    Minnesota charges financial planner with fraud costing investors $200,000

    {June 22nd, 2018} by InvestmentNews

    Sauk Rapids, Minn., adviser has been charged with securities fraud, insurance fraud and theft in connection with fraudulent insurance and gold bullion transactions that cost investors more than $200,000. Lisa Marie Schurhammer, a former licensed insurance producer who operated a financial planning business called Retirement America, advised victims to cash out their existing annuities and […]

    Merrill Lynch may bring back commissions on sales to IRA clients

    {June 22nd, 2018} by Editorial Staff

    Bank of America Corp’s Merrill Lynch Wealth Management is reconsidering an internal policy from 2017 that banned advisers from opening new retirement accounts that paid them commissions, according to a source familiar with the situation, Reuters reported this week. Merrill Lynch, along with JPMorgan Chase & Co, moved away from brokerage retirement accounts last year, […]

    SEC’s Clayton: Comment Period on Advice Standards May Be Extended

    {June 22nd, 2018} by Melanie Waddell

    Securities and Exchange Commission Chairman Jay Clayton, who was peppered with questions about the agency’s proposed Regulation Best Interest for brokers during a House panel oversight hearing Thursday, told lawmakers that a lengthier comment period may be needed for the commission’s advice standards proposal. Clayton’s testimony before the House Financial Services Committee came the same […]

    John Hancock to sell Signator to Advisor Group in latest insurance pullback

    {June 22nd, 2018} by Tobias Salinger

    Advisor Group’s Royal Alliance Associates will acquire Signator Investors from John Hancock, as private-equity capital aided in another retreat from the independent broker-dealer space by an insurance company. Advisor Group’s part-owner Lightyear Capital, which experts have identified as a possible suitor for Cetera Financial Group, moved to bring Signator, which is the No. 16 IBD by revenue, […]

    Fifth Circuit Makes it Official: the Fiduciary Rule is Vacated

    {June 22nd, 2018} by NAFA

    On behalf of NAFA, I am excited to share the news we have long been waiting for: earlier today the U.S. Court of Appeals for the Fifth Circuit issued its mandate, making official and permanent its March 15, 2018 decision to vacate the Department of Labor’s fiduciary rule in its entirety. As you know, NAFA […]

    Lincoln Financial Group Partners with Orion to Offer a Robust Data Platform for Fee-Only Advisors

    {June 22nd, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) today announced a strategic partnership with Orion Advisor Services, LLC (“Orion”), the premier portfolio management solution provider for registered investment advisors, to offer a data platform for advisors who use Lincoln Financial’s suite of variable and fixed annuity solutions. “Our partnership with Orion underscores Lincoln Financial’s commitment to […]

    SEC Investment Advice Rule Tough Enough, Clayton Assures Pols

    {June 22nd, 2018} by John Hilton

    At one point during Thursday’s House Financial Services Committee hearing, SEC Chairman Jay Clayton assured a skeptical lawmaker that the agency’s investor advice rule would protect investors like a fiduciary standard. After pointing out that registered investment advisors must put clients first, Clayton told Rep. Maxine Waters, D-Calif: “that’s what we’re going to do in […]

    AXA Equitable CEO: Index Annuity Segment Getting Crowded

    {June 22nd, 2018} by Cyril Tuohy

    It’s getting “crowded” in the index-linked annuity market. That’s the word from Mark Pearson, president and CEO of AXA Equitable, a pioneer in a market segment that turned in double-digit growth rates last year. “Yes, there is more competition, particularly in the space where we have our (Structured Capital Strategies) product,” Pearson told analysts in […]

    Former Anaheim insurance agent gets 15 years for defrauding clients of $2 million

    {June 22nd, 2018} by Sean Emery

    A former insurance agent who admitted to stealing more than $2 million dollars from his clients was sentenced Thursday to 15 years in prison and ordered to pay $3.5 million-plus in restitution and fines. Brian Smart, 41, agreed to an Orange County Superior Court offer requiring him to plead guilty to 15 felonies, including grand […]

    Individual Life Combination Premium Grows 18% In 2017

    {June 21st, 2018} by LIMRA

    WINDSOR, Conn., June 21, 2018 – Total new premium for life combination products (which combine life insurance with long-term care or chronic illness coverage) increased 18 percent to $4.1 billion in 2017, according to LIMRA’s 2017 Individual Life Combination Products Annual Review. This is the third consecutive year of premium growth. Life combination product market share of […]

    Jackson CEO Barry Stowe Spotlights the Importance of Protected Retirement Income in Newly Released Video

    {June 21st, 2018} by Jackson National Life Insurance Company

    LANSING, Mich.–(BUSINESS WIRE)–Jackson National Life Insurance Company® (Jackson®) serves as a co-chair and founding member of the Alliance for Lifetime Income, and is helping lead the charge in uniting 24 of the nation’s financial services companies to raise awareness of the country’s looming retirement crisis. As part of the kickoff activities in Washington D.C., Chief […]

    MetLife, Brighthouse Sued Over $500M Annuity Biz, Lost Clients

    {June 21st, 2018} by Carmen Castro-Pagan

    MetLife Inc. and its annuity and life insurance arm Brighthouse Financial Inc. are in the crosshairs of a new lawsuit challenging the conversion of more than $500 million in retirement benefits over the past 25 years, which allegedly deprived 30,000 retirees of their income. MetLife systematically took ownership of the retirees’ annuity assets, ultimately releasing […]

    Nationwide to expand innovation space and add new jobs in Columbus

    {June 21st, 2018} by Nationwide

    COLUMBUS, Ohio, June 20, 2018 /PRNewswire/ — To continue meeting the evolving needs of its members, Nationwide will open a new 31,000-square-foot innovation center in the Arena District next year. The company plans to renovate space within the building at 175 W. Nationwide Blvd., owned by Nationwide Realty Investors and its partner, Capital Square Ltd. The company is […]

    DOL Fiduciary Rule Officially Dead

    {June 20th, 2018} by Barron's

    The DOL fiduciary rule just flatlined. The department failed to ask the Supreme Court to hear an appeal of a March appellate court ruling that voided the rule, WealthManagement.com notes. The end of the day Wednesday marked the deadline for such a petition. Click HERE to view the original article via Barron’s.  The DOL’s silence effectively ends the short-lived […]

    AXA Equitable Posts First Earnings Since the IPO

    {June 20th, 2018} by Allison Bell

    The modern heir to the history of Equitable Life Assurance Society of the United States is once again posting its own quarterly earnings statements. AXA Equitable Holdings Inc. is reporting $291 million in net income for the first quarter on $2.8 billion in revenue, compared with a net loss of $197 million on $2.8 billion […]

    Could This Reduce Our Retirement Income Anxiety?

    {June 20th, 2018} by Richard Eisenberg

    Many workers in their 50s and 60s worry about whether they’ll have enough savings for a comfortable retirement, of course, but they also have another big financial fear: How can they essentially recreate their paycheck so they can count on steady, reliable retirement income? A new initiative from a consortium of financial services companies — […]

    RetireUp Adds Another Top-Selling Carrier to Roster of Product Partners Who are Helping Revolutionize the Way Advisors Educate Clients on Annuities

    {June 20th, 2018} by RetireUp

    CHICAGO, June 19, 2018 (GLOBE NEWSWIRE) — Leading retirement planning software provider RetireUp announced today the addition of Fidelity & Guaranty Life Insurance Company’s fixed indexed annuities (FIAs) to their lineup of modeled products available on the company’s end-to-end platform, RetireUp Pro. Financial Insurance Professionals now have access to Performance Pro®, Safe Income Plus®, and FG AccumulatorPlus® […]

    No, a CEO Can’t Simply Rewrite the Rules of M&A

    {June 20th, 2018} by Chris Hughes

    The CEO of Europe’s biggest insurer is up for a big deal. He just doesn’t want Allianz SE to pay for it. Oliver Baete is going to find it hard to have his cake and eat it. Three years into the job, and things are going well for him: Allianz reckons it has surplus capital […]

    Gender, Generation and Financial Knowledge

    {June 19th, 2018} by FINRA Foundation

    Research reveals that while overall economic conditions continue to improve, wealth and income inequality remain at extremes. Read the entire report here. In a recent study using data from its National Financial Capability Study, the FINRA Foundation found that women consistently lag behind men on financial and investor literacy scores across generations. Lower levels of financial and […]

    Does Apollo Need Investors?

    {June 19th, 2018} by Julie Segal

    It was a classic Apollo play, at first. When Marc Rowan, Jim Zelter, and Jim Belardi led a team that began buying annuities from troubled insurance companies in 2009, they snapped them up at half their book value. Apollo Global Management had the field to itself. With interest rates at record lows, insurance companies could […]

    WHAT’S NEW IN ANNUITIES: May 2018

    {June 19th, 2018} by Wink's RockStars

    Wink’s AnnuitySpecs analysis provides an up-to-date view of the of the traditional fixed, multi‐year guaranteed, and indexed annuities being launched and retired on a monthly basis so you can quickly view trends in product development. The AnnuitySpecs display will default to the last three months and one can view historical data in quarterly intervals from […]

    WHAT’S NEW IN LIFE INSURANCE: May 2018

    {June 19th, 2018} by Wink's RockStars

    Wink’s LifeSpecs analysis tool provides an up-to-date view of the of the indexed universal life, indexed whole life, traditional universal life, traditional whole life, and interest-sensitive whole life being launched and retired on a monthly basis so you can quickly view trends in product development. LifeSpecs’ What’s New section will default to the last three […]

    Eying Growth, Insurers Reshape Indexed Life

    {June 19th, 2018} by Cyril Tuohy

    First quarter sales of indexed universal life rose 12 percent to $486 million compared to the year-ago period and life insurers are wasting no time tweaking their IUL line-ups to take advantage of a fast-selling segment. Rising interest rates help insurers boost the generosity of the benefits available with life insurance contracts and industry analysts […]

    Robert Downey Jr., Jay Z, Durant Back Life Insurance Startup

    {June 19th, 2018} by Julie Verhage

    The company isn’t a well-known name in Silicon Valley, but its investors certainly are. San Francisco-based Ethos Technologies Inc. was founded last year, the product of two Stanford MBAs. The company’s core product is a streamlined, and affordable process for buying term insurance — which pays out benefits if the insured dies within a certain […]

    DOL to Help MetLife and Brighthouse Shut Down Abandoned Plans

    {June 19th, 2018} by Allison Bell

    Some of your clients may soon hear from the government that Uncle Sam has cash for them. The Employee Benefits Security Administration (EBSA), part of the U.S. Department of Labor, is preparing to help MetLife Inc. and Brighthouse Financial Inc. dispose of about 1,600 retirement plans that look as if they might be abandoned, and to […]

    40 Under 40: Introducing the class of 2018

    {June 19th, 2018} by InvestmentNews

    Meet this year’s 40 Under 40 winners, showcasing the nation’s finest young financial advisers and associated professionals in the financial planning industry. Inside their individual profiles you’ll discover their impressive stories, including several who have been elected by their much older colleagues to lead their firms. A few others are military veterans, including one Bronze […]

    Liberty Holdings Ltd., Refused to Pay Ransom After Computer Systems Hacked

    {June 19th, 2018} by Amogelang Mbatha

    Liberty Holdings Ltd., the South African insurer midway through an overhaul to improve profit, said it refused a ransom demand after hackers breached its information-technology infrastructure and accessed some emails. The stock fell the most in a month. “We did engage with the external parties involved to determine their intentions, but we made no concession […]

    Award Recipient: Pacific Life Companies

    {June 19th, 2018} by Wink's RockStars

    “On behalf of Pacific Life, I want to thank you and your team for the wonderful award we received last Friday.” -Marketing Research Manager Pacific Life Companies received the Wink’s 2017 Leader in Indexed Life Insurance Sales award as featured on May 8th at https://www.looktowink.com/2018/05/winks-2017-leader-in-indexed-life-insurance-sales/. Thank you for taking the time to share your photo with […]

    INDEXED ANNUITY GLWBS: A DECADE OF CHANGE Reprint

    {June 19th, 2018} by Sheryl J. Moore

    INDEXED ANNUITY GLWBS: A DECADE OF CHANGE March 29, 2016 by Sheryl J. Moore It has now been more than a decade since I developed the concept of offering Guaranteed Lifetime Withdrawal Benefits on fixed and indexed annuities. What was the motivation behind this? One question- “If guaranteed lifetime income is the greatest value proposition […]

    Need an Rx for retirement? The doctor is in. Reprint

    {June 19th, 2018} by Sheryl J. Moore

    It took me a long time to get my “doctorate in lifetime income.” The journey commenced once I reviewed my retirement account statement after the dot-com bubble burst. I felt absolutely nauseous. Losing money did not sit well with my stomach. If a 401(k) had caused me to retch so violently, what retirement product could […]

    INDEXED ANNUITIES: BACK TO THE BASICS Reprint

    {June 19th, 2018} by Sheryl J. Moore

    INDEXED ANNUITIES: BACK TO THE BASICS July 31, 2012 by Sheryl J. Moore For years, indexed annuities have provided a strong value proposition to those saving for retirement: guaranteed safety of principal while having the ability to earn limited interest based off of the performance of a stock market index. This must appeal to at […]

    John Hancock Vitality Life Insurance Expands to Support the Mental Well-being of its Customers Through Meditation and Sleep

    {June 19th, 2018} by John Hancock

    BOSTON, June 18, 2018 /PRNewswire/ — John Hancock today expanded its behavioral and wellness-linked life insurance to include HealthyMind, a benefit designed to support the mental well-being of its customers through meditation and sleep. HealthyMind is a new addition to the John Hancock Vitality program, which gives its life insurance customers the opportunity to earn […]

    Simpler Variable Annuities Could Play A Big Role In Retirement Planning

    {June 18th, 2018} by Jamie Hopkins

    A secure retirement plan needs secure income sources. But figuring out how to sustain an income stream throughout retirement relies on an important component: having adequate savings to begin with. For more and more Americans, annuities are part of the solution for growth and income. Certain annuities, like fixed annuities, can be used to replace […]

    SEC Rule Anxiety Might Suppress Variable Annuity Sales

    {June 18th, 2018} by Cyril Tuohy

    Are VAs entering a deja-vu moment all over again? Rising interest rates and a strong – if choppy – stock market would signal the all-clear for higher VA sales in the second and third quarters. But the outlook comes with one caveat: the Securities and Exchange Commission’s Best Interest Regulation. Click HERE to read the […]

    Fiduciary rule’s demise prompts Merrill to review commission policy

    {June 16th, 2018} by Andrew Welsch and Sean Allocca

    The death of the fiduciary rule is beginning to reverberate throughout the industry, starting at Merrill Lynch. The roughly 14,800-advisor firm is reviewing its policy on commission-based business in retirement accounts following the official demise of the Department of Labor’s fiduciary rule. The reassessment opens up the possibility that the wirehouse could reverse, either in […]

    Does the SEC’s best interest proposal move beyond the status quo?

    {June 16th, 2018} by Kenneth Corbin

    Does the SEC’s proposed Regulation Best Interest amount to a meaningful change in standards for broker-dealers, or is it really just a touched-up retread of FINRA’s well-established suitability standard? That question is emerging as a central element of the debate over the regulation, one that will animate the comments the SEC will be collecting from […]

    Alternative Capital Is Set to Double Down on the U.S. Life Insurance Sector

    {June 16th, 2018} by Deep Banerjee

    S&P Global Ratings believes that the involvement of alternative capital in the U.S. life insurance sector could double over the next two to years. The most recent merger and acquisition (M&A) announcements in the U.S. life insurance sector has seen increased involvement of alternative capital investors. This is not the first time we have seen […]

    DOL Won’t Ask SCOTUS For Fiduciary Rule Appeal

    {June 15th, 2018} by John Hilton

    As expected, the federal government opted not to appeal to the U.S. Supreme Court to save the Obama-era Department of Labor fiduciary rule. The deadline to appeal the Fifth Circuit Court of Appeals’ March 15 ruling tossing out the DOL rule came and went Wednesday with nothing filed.   Click HERE to read the full […]

    Fiduciary rule’s officially RIP, but SEC plows ahead

    {June 15th, 2018} by Neil Weinberg

    The fiduciary rule is officially dead. The Labor Department rule, conceived by the Obama administration, was meant to ensure that advisors put their clients’ financial interests ahead of their own when recommending retirement investments. The rule’s fate was all but sealed with the election of President Trump, who generally opposes financial regulations. Just two weeks […]

    Global Atlantic Financial Group Joins Alliance for Lifetime Income, Focused on Protecting Americans’ Finances in Retirement

    {June 15th, 2018} by Global Atlantic Financial Group

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group announced that it has joined the Alliance for Lifetime Income as a founding member. The coalition brings together 24 of the nation’s leading financial services organizations with a common goal of raising awareness around lifetime income solutions for Americans. Global Atlantic has long been committed to providing education and products that […]

    California Regulators Continue Life Reinsurance Captive Fight

    {June 15th, 2018} by Allison Bell

    California insurance regulators have continued the fight over accounting treatment for life insurers’ reinsurance subsidiaries in its response to a life insurer’s policy administration problems. The California Department of Insurance talks about life captive reinsurer accounting treatment in an order it issued concerning how Accordia Life and Annuity Company, a unit of Global Atlantic Financial […]

    AIG Helps Launch the Alliance for Lifetime Income

    {June 14th, 2018} by AIG

    June 14, 2018 — NEW YORK–(BUSINESS WIRE)–AIG (NYSE:AIG) today announced it is a founding member of the Board of Directors for the Alliance for Lifetime Income (Alliance), a new industry coalition of 24 leading financial services organizations whose goal is to educate Americans about the importance of protected lifetime income solutions and empower them to take […]

    Pacific Life VA Rider Targets 5-Year Deferral Period

    {June 14th, 2018} by Cyril Tuohy

    A new VA rider introduced by Pacific Life targets buyers who want “income soon.” The company’s Core Protect Plus rider offers a five-year minimum deferral period for people 60 and older, the company said. Many other VA riders offer minimum income deferral periods of 10 years or more before people can start drawing income. Click […]

    AXA Equitable Life Joins the Alliance for Lifetime Income to Help Americans Prepare for Retirement

    {June 14th, 2018} by Business Wire

    NEW YORK–(BUSINESS WIRE)–Jun 14, 2018–AXA Equitable Life, a unit of AXA Equitable Holdings, Inc. (NYSE: EQH ), a leading financial services company, announced today that it has joined the Alliance for Lifetime Income as a founding member. The Alliance brings together 24 of the nation’s leading financial services organizations to help Americans address the risk of outliving their income so […]

    Companies Form Lifetime Income Outreach Alliance

    {June 14th, 2018} by Allison Bell

    Financial services companies are working with a veteran industry outreach campaign specialist in Washington to promote public awareness of, and support for, retirement income arrangements. The companies have joined together to start a new Alliance for Lifetime Income. Click HERE to read the original story via ThinkAdvisor. The alliance is a nonprofit, 501(c)(6) organization that has […]

    Beneath the Lull, Annuity Activity Aplenty

    {June 14th, 2018} by Cyril Tuohy

    Overall sales of individual annuities were flat in the first quarter, but don’t let the lull fool you. Behind the staid numbers, annuity companies are experimenting with product tweaks as they push to distribute through new channels in search of growth, which is likely to come from reaching down to the mass affluent and middle […]

    Better Than Bonds? A Look at Uncapped Fixed Index Annuities

    {June 14th, 2018} by David Braun

    Most people have three basic hopes for their investments. They want growth. They want safety. And they want liquidity. Unfortunately, it’s next to impossible to find any one investment that offers all three. Usually, if a product or strategy is particularly strong in one category, it’s lacking in another area. If an investment has huge […]

    Beware Of Nightmares On The Way To The Retirement Dream Abroad

    {June 13th, 2018} by Brian O'Connell

    A new report from International Living offers two distinct takeaways that should be of interest to investment advisors. First, more Americans are retiring early, as young as in their 30s. Secondly, more Americans are retiring early and moving overseas. Those twin scenarios could spell “opportunity” for advisors. Imagine being the trusted financial professional who can both help […]

    Insurers Win As Fed Hikes Interest Rates Again

    {June 13th, 2018} by John Hilton

    News Item: The Federal Reserve hikes interest rates by a quarter-point and signals two additional hikes this year and three in 2019. Winner: The insurance industry. After many years of a near-zero Federal Funds Rate, the lid is off and insurers will see several benefits, said Frank O’Connor, vice president of research at the Insured […]

    Here are some overlooked ways to make your money last in retirement

    {June 13th, 2018} by Lorie Konish

    The Federal Reserve rate hike of a quarter point should be good news for retirees, industry pundits say. But those experts also say you may want to hold off on celebrating just yet. That is because rate hikes might not be enough to help create a source of reliable income that retirees really need. “Rates […]

    HOW ANNUITIES HAVE CHANGED SINCE THE DOL PROPOSED THE FIDUCIARY RULE. Reprint

    {June 13th, 2018} by Sheryl J. Moore

    HOW ANNUITIES HAVE CHANGED SINCE THE DOL PROPOSED THE FIDUCIARY RULE. May 8, 2018 by Sheryl J. Moore Before I count the ways, let me comment that the average premium for a deferred annuity is $102,964 as of 4Q2017. I would surmise that the typical fee-based advisor asks that their clients have no less than […]

    Athene Comments on Recent Notice from California Department of Insurance

    {June 13th, 2018} by Athene Holding Ltd.

    June 13, 2018 08:01 AM Eastern Daylight Time PEMBROKE, Bermuda–(BUSINESS WIRE)–On June 11, a subsidiary of Athene Holding Ltd. (NYSE: ATH) (“Athene”) received notice of a regulatory matter from the California Department of Insurance regarding Accordia Life and Annuity Company (a subsidiary of Global Atlantic, “Accordia”) and Athene. The matter involves administration issues relating to certain […]

    Athene Launches New Fixed Indexed Annuity, “Athene Agility℠” to Open Doors to Retirement Possibilities

    {June 13th, 2018} by Athene Annuity and Life Company

    DES MOINES, Iowa–(BUSINESS WIRE)–Athene Annuity and Life Company, a subsidiary of Athene Holding Ltd. (NYSE: ATH), announced today the launch of Athene Agility℠, a new addition to their suite of fixed indexed annuity (FIA) products designed to help retirees achieve their goals for retirement savings and income. Agility adapts to retirees’ needs whether for growth, […]

    A.M. Best Affirms Credit Ratings of Teachers Insurance and Annuity Association of America and Its Subsidiary

    {June 13th, 2018} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aaa” of Teachers Insurance and Annuity Association of America (TIAA) and its wholly owned insurance subsidiary, TIAA-CREF Life Insurance Company (TIAA-CREF Life). TIAA and TIAA-CREF Life are collectively referred to as the TIAA Group. A.M. Best also has affirmed the Long-Term […]

    Protecting Seniors from the Perils of Elder Financial Abuse: Opinion

    {June 13th, 2018} by Walter White

    The recent passage of the Senior Safe Act is a big win for anyone with an older adult in their life. The bipartisan legislation will help protect elders against financial exploitation perpetrated by scammers, unscrupulous professionals, caregivers, or even family and friends. Given that the number of older adults continues to climb, elder financial abuse […]

    SEC advice rule concerns raised by Schwab, AARP

    {June 13th, 2018} by Mark Schoeff Jr.

    Charles Schwab & Co. Inc. and AARP voiced concerns Tuesday about the Securities and Exchange Commission’s proposal for new investment adviser and broker disclosures. Jeff Brown, Schwab senior vice president for legislative and regulatory affairs, said the client relationship summary that is part of the SEC’s investment advice reform package is unwieldy. Click HERE to […]

    I am HIRING!

    {June 13th, 2018} by Sheryl J. Moore

    So, if you have annuity competitive intelligence experience- I WANT YOU! Being a master of Microsoft Excel is a plus. Having experience with illustrations is a plus. MUST be a relationship builder. Interested? Click HERE to message me   You cannot find a better work environment: – Full body massages every six weeks – Casual […]

    California Regulators Blast Accordia and Athene Over Policy Administration

    {June 12th, 2018} by Allison Bell

    The California Department of Insurance announced today that it wants to shut two life insurers down for a year because of problems with life insurance policy administration. Department officials say, in an order listing its accusations against Accordia Life and Annuity Company and Athene Annuity and Life Company, that the companies have failed to meet […]

    Consumers Comfortable Yet Terrified Of Risk

    {June 12th, 2018} by Cyril Tuohy

    Americans seem more comfortable with market volatility, but recoil at the thought of a downturn that could devastate their retirement savings, a new survey has found. Can these contradictory strands really exist at the same time? “Yes, people can be both,” said Paul Kelash, vice president of Consumers Insights for Allianz, which published the 2018 […]

    The Amazing Fiduciary Race

    {June 12th, 2018} by John Hilton

    Independent insurance agents and broker-dealers might emerge as the big winners once the decade-long push for tougher standards is complete. Emphasis on might is important. As this magazine went to press, the efforts by the DOL, the Securities and Exchange Commission and the states were heading in different directions. But there are at least three […]

    Tax Law Unlocks Life Insurance Opportunity In Estate Planning

    {June 12th, 2018} by Darwin Bayston

    Estate planning professionals have been poring over details in the Tax Cuts and Jobs Act of 2017 and assessing the potential implications for their clients. While the lower rates for corporations and most individuals grabbed the headlines, two less publicized aspects of this new tax law could have an effect on your senior clients. DOUBLING […]

    Annuities Can Help Boomers Consider Wealth Transfer Plans

    {June 12th, 2018} by Rich Lane

    The oldest baby boomers are 72 and likely retired or approaching the next chapter in their lives. After being in the workforce for more than four decades, many baby boomers have spent their working years amassing wealth. Now, as their children start buying homes and beginning their own families, they may be looking to pass […]

    Allianz’s Pursuit of Insurance Deals Keeps Market Guessing

    {June 12th, 2018} by Dinesh Nair, Julie Edde, Aaron Kirchfeld and Ruth David

    A $94 billion financial behemoth is keeping the market on tenterhooks about its next move. Europe’s largest insurer, Allianz SE, is in the early stages of evaluating a variety of potential acquisition targets as deal-hungry Chief Executive Officer Oliver Baete scans the market for growth, people with knowledge of the matter said. Companies on the […]

    Supreme Court Likes Minnesota’s Life Beneficiary Designation Law

    {June 12th, 2018} by Allison Bell

    The U.S. Supreme Court is backing Minnesota’s effort to clear up some of the life insurance policy beneficiary designation problems that result from divorce. The court ruled 8-1 today, in Sveen et al. v. Melin, that Minnesota can apply its beneficiary designation fix law to policies that were in force before 2002, when the fix law […]

    SEC Must Clarify Advice Standards or the Courts Will: AARP

    {June 12th, 2018} by Melanie Waddell

    As the Securities and Exchange Commission gears up to hold its first town hall meeting in Atlanta on Wednesday to get feedback on its standard of conduct proposals, AARP argues that any final rule issued by the securities regulator must include two “important” changes: “clearly define the standard of conduct for investment professionals as a […]

    Commissioner Jones announces legal action against life insurers to protect 50,000 policyholders

    {June 12th, 2018} by California Department of Insurance

      For Release: June 12, 2018 Media Calls Only: 916-492-3566 Email Inquiries: cdipress@insurance.ca.gov Commissioner Jones announces legal action against life insurers to protect 50,000 policyholders Insurers kept Californians’ life insurance policies in limbo SACRAMENTO, Calif. —Insurance Commissioner Dave Jones announced today the California Department of Insurance has served an Order to Show Cause and Accusation against Accordia Life […]

    Non-Variable Life Sales Rise 2%: Wink

    {June 12th, 2018} by Allison Bell

    U.S. indexed life insurance sales climbed to $486 million in the first quarter, up 11% from the total for the first quarter of 2017, according to analysts at Wink Inc. The combined sales total for indexed universal life and traditional universal life increased 1.6%, to $936 million. Sales of whole life increased 11%, to $1.1 billion. […]

    Kansas City Life Insurance Company To Acquire Life Division From Grange Mutual Casualty Company

    {June 12th, 2018} by Kansas City Life Insurance Company

    KANSAS CITY, Mo., June 4, 2018 /PRNewswire/ — Kansas City Life Insurance Company and Grange Mutual Casualty Company are pleased to announce the signing of a definitive agreement today under which Kansas City Life will acquire all of the issued and outstanding stock of Grange Life Insurance Company from Grange Mutual. The transaction is subject to review by […]

    Securian Moves Into Multi-Employer Retirement Plan Market

    {June 12th, 2018} by Allison Bell

    Securian Financial Group Inc. has come out with a product aimed at employers that want to participate in a stable multi-employer retirement program: a multi-employer plan based on a group annuity. Click HERE to read the original story via ThinkAdvisor. The St. Paul, Minnesota-based company is using a group annuity contract from its Minnesota Life […]

    Genworth Clears Major Obstacle to Completing China Oceanwide Deal

    {June 12th, 2018} by Allison Bell

    China Oceanwide Holdings Group Co. Ltd. has moved a big step forward toward acquiring Genworth Financial Inc. A secretive U.S. national security review agency, the Committee on Foreign Investment in the United States (CFIUS), has approved the deal, the companies announced Saturday. The companies still need to get approvals for their deal from insurance regulators […]

    New York Life’s CEO Still Likes the Retail Annuity Market

    {June 12th, 2018} by Allison Bell

    Ted Mathas, the chief executive officer (CEO) of New York Life Insurance Company, today told an audience full of institutional investors that he would rather keep selling individual life insurance and annuities than rush into the pension risk transfer market. Some of New York Life’s competitors have been raising capital so that they can shift away […]

    Allianz and Vestwell partner on 401(k) distribution

    {June 12th, 2018} by Greg Iacurci

    Allianz Life Insurance Co. of North America has forged a sales partnership with Vestwell designed to distribute the 401(k) robo-adviser’s services through thousands of independent retirement-plan advisers. Allianz, which offers insurance products to retail investors, is promoting Vestwell’s services to the roughly 15,000 registered investment advisers affiliated with independent broker-dealers with whom Allianz does business. […]

    Does the SEC really need to define ‘best interest’? Editorial

    {June 12th, 2018} by Editorial

    Best interest. Act in the client’s best interest. Put the client’s best interest ahead of your own. Regulation Best Interest. The “interest” part of that phrase is pretty easy to understand. Words such as well-being, benefit and advantage are tied to it. If something is in one’s interest, doing it will better their situation (or […]

    I GIVE A DAMN ABOUT ANNUITIES – YOU SHOULD TOO! Reprint

    {June 12th, 2018} by Sheryl J. Moore

    I GIVE A DAMN ABOUT ANNUITIES – YOU SHOULD TOO May 19, 2015 by Sheryl J. Moore WHY PEOPLE NEED ANNUITIES I recall well my entrance into the life insurance market. Nearly 20 years ago, I was a single mother with three babies in diapers; wondering what career I could hold in Des Moines, Iowa […]

    HAVE INDEXED ANNUITIES BECOME TOO COMPLICATED?!? Reprint

    {June 12th, 2018} by Sheryl J. Moore

      An Investment News article from 2016 had highlighted commentary from myself on how indexed annuities have become “unnecessarily complex.” I stand by that comment. Now, don’t get me wrong- I love indexed annuities, and I want to see the product line continue to thrive. Further, I am always for product innovation and competition when it […]

    CONSUMERS DEMAND INDEXED ANNUITIES Reprint

    {June 12th, 2018} by Sheryl J. Moore

    CONSUMERS DEMAND INDEXED ANNUITIES October 31, 2012 by Sheryl J. Moore by Sheryl J. Moore Just fifteen years ago, I was hard-pressed to find any information about indexed annuities in the public domain. Nothing was ever found in the newspaper or at the library; not even on that confounded thing they called “the internet.” It […]

    Which independent broker-dealers have the most women advisors?

    {June 12th, 2018} by Tobias Salinger

    Women financial advisors stand a long way from equal footing with men in terms of hiring and pay — and independent broker-dealers are no exception to the industry-wide disparities. The average share of female registered representatives out of the total headcounts of the largest IBDs amounts to an estimated 17%, according to data submitted by […]

    Financially Optimistic Millennials Aspire to be Millionaires, Retire Early

    {June 11th, 2018} by TD Ameritrade Holding Corporation

    June 11, 2018 — OMAHA, Neb.–(BUSINESS WIRE)–Millennials are optimistic about how their lives will play out after college, despite the fact that they have a collective $1 trillion in student loan, credit card and other debt hanging over their heads, according to the TD Ameritrade 2018 Millennials and Money Survey. “Millennials are graduating at record rates, and […]

    How Life Insurance Prospects (Might) Turn Into Raving Fans

    {June 9th, 2018} by Maria Ferrante-Schepis

    For those of us who have a front row seat to the digital transformation of the customer experience in life insurance, there is a sense that our world is being, or about to be, rocked. In a way, it is; however, when you understand the customer experience cycle and all its component phases, you realize […]

    NAIC Focuses On Proprietary Indices In Annuity Illustration Discussio

    {June 8th, 2018} by John Hilton

    State insurance commissioners are wrestling with rules that would allow insurers to illustrate indexed annuities using indices that have been around less than 10 years. The Annuity Suitability Working Group held a conference call this week, which produced additional tweaks to Annuity Disclosure Model Regulation 245. The group is a National Association of Insurance Commissioners […]

    Advisers encourage investors to take fiduciary into their own hands

    {June 8th, 2018} by Mark Schoeff Jr.

    As regulators struggle to reform investment advice rules, a group of advisers and investor advocates is encouraging clients to seek a higher standard on their own. With the Labor Department’s fiduciary rule teetering on the brink of death and the Securities and Exchange Commission setting off on a potentially long rulemaking process, the Committee for the Fiduciary Standard […]

    ACLI To Court On DOL Fiduciary Rule: ‘What Are You Waiting For?’

    {June 7th, 2018} by John Hilton

    Plaintiffs who won a big appeals court victory to stop the controversial Department of Labor fiduciary rule are wondering when the final court mandate officially killing the rule will be filed. In a letter to the Fifth Circuit Court of Appeals filed today, David W. Ogden, attorney for ACLI, reminded the court that his clients […]

    Lincoln Financial Group One of the First Life Insurers to Offer Online Chat Capabilities to Service Policies

    {June 7th, 2018} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE:LNC) is now providing customers who come to its public website online chat capabilities, becoming one of the first life insurance carriers to offer this customer service-enhancing feature. Offered on www.LincolnFinancial.com (LFG.com), the service provides individual life insurance customers an additional choice for how they can interact with Lincoln, based on their […]

    AIG eyes expansion of life and retirement unit

    {June 7th, 2018} by Staff

    AIG’s chief executive has said he would do another multibillion-dollar acquisition “in a heartbeat” if he could find the right target, as he eyes potential expansion of the US insurer’s life and retirement business overseas. Brian Duperreault signalled he was prepared to do more deals after he agreed this year to buy Validus, a Bermuda-based reinsurer, for […]

    SEC Had to Fudge the Definition of ‘Best Interest’

    {June 7th, 2018} by Kerry Pechter

    My sympathies go out to the writers at the SEC. The Securities & Exchange Commission did not define “best interest” in its Regulatory Best Interest proposal. Why? A true definition isn’t an option for it or the financial industry… or even for most clients. A client’s interest is best served when he/she pays a self-employed […]

    Annuities, Like Rome, Weren’t Built in a Day

    {June 7th, 2018} by Troy Bender

    Annuities have been around for centuries – since Roman times. In Ancient Rome, people would make a single payment in return for annual lifetime payments. Even back then, retirement planning was a concern. The first annuities were available to the public in America in 1912. But the popularity of annuities really started during the Great […]

    Post-DOL Ignition

    {June 6th, 2018} by John Hilton

    Annuities have been stumbling after years of accelerating growth, but Jack Marrion has a simple reason why that pace might pick up again — agents and advisors are getting back to selling. “A number of agents I spoke to said last year that they weren’t selling as hard, they weren’t working as hard and they […]

    FIRST QUARTER 2018 LIFE INSURANCE SALES

    {June 6th, 2018} by Sheryl J. Moore

    Indexed Life Sales for the first quarter of 2018 were $486 million, compared with sales of $436 million for the first quarter of 2017. First quarter indexed life sales were down nearly 16% when compared with the previous quarter, and up more than 11% as compared to the same period last year.   Total 1Q2018 […]

    THE FUTURE IS FEMALE, SAYS MIT AGELAB DIRECTOR

    {June 6th, 2018} by Joseph Coughlin, MIT AgeLab

    Why It Matters Women are the chief Wealth + Health decision makers of their households. Women are especially influential in health spending. Financial professionals who want to stay relevant should think about female clients’ lives, specifically from their perspective. The forward-thinking financial professional should always be working to expand her mental model of her typical […]

    EverBank rebrands as TIAA Bank

    {June 6th, 2018} by Alcynna Lloyd

    TIAA announced the rebranding of EverBank and TIAA Direct as TIAA Bank. This rebranding comes almost one year after TIAA acquired EverBank Financial Corp in June 2017. According to TIAA, TIAA Bank will aim to help clients achieve financial well-being up to and through retirement by offering a full suite of financial products and services […]

    Twenty-Three Percent Fewer Employers Are Offering Life Insurance to Their Workers

    {June 6th, 2018} by LIMRA

    March 27, 2018 — In 2017, only 48 percent of employers offered life insurance to their workers, a 23 percent decline from 2006. This continues a steady of decline in employer-sponsored life insurance since 2006. While access to employer-sponsored life insurance has declined, employees continue to recognize the value of life insurance. Six in ten employees […]

    Fee-based VA Sales Jump 70% in 1Q

    {June 6th, 2018} by Cyril Tuohy

    Sales of fee-based VAs, one of the industry’s best hopes for cracking the registered investment advisor channel, rose 70 percent to $780 million over the year-ago period, LIMRA reported. Click HERE to read the full story via INN; subscription required.    Article excerpt: Fee-based sales of indexed annuities were $60 million in the first quarter, […]

    Investors Helping Life Insurers Shift to Pension Transfer Market: Analyst

    {June 6th, 2018} by Allison Bell

    Investor groups that include private equity funds and other sources of “alternative capital” already control insurers that are responsible for about 5% of U.S. life insurance policy and annuity contract liabilities, according to Deep Banerjee. If current trends continue, those investor groups could increase their share of the U.S. life market to about 10% in […]

    Wink, Inc. Releases First Quarter, 2018 Life Sales Results

    {June 6th, 2018} by Press Release

    — FOR IMMEDIATE DISTRIBUTION — NEWS RELEASE   INDEXED LIFE SALES UP DOUBLE DIGITS Wink, Inc. Releases First Quarter, 2018 Life Sales Results Des Moines, Iowa. June 6, 2018– Wink, Inc. released first quarter, 2018 life sales results in its 83rd edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report, the insurance industry’s […]

    U.S. Life Insurers Are Still Shifting Toward Harder-to-Sell Assets: S&P

    {June 6th, 2018} by Allison Bell

    Years of bond yield famine have led U.S. life insurers to make major changes in their investment portfolios, according to analysts at S&P Global. Life insurers have respected regulators’ and rating analysts investment-quality guidelines, but many have stretched the guidelines by investing in the lowest-rated, highest-paying assets that meet the guideline criteria, and by increasing their exposure to […]

    Not Prepared for Retirement? Here’s a Solution: Don’t Retire For many people, old age just isn’t as old as it used to be.

    {June 6th, 2018} by Peter Coy

    Lots of people around the world aren’t prepared for retirement, as my colleague Suzanne Woolley ably explained recently. There’s one obvious solution to that problem: Postpone your retirement. A recent academic study called The Power of Working Longer, cited in the New York Times, finds that working just three to six months longer can raise […]

    NAIC Group Confronts Friction, Pushes Ahead On Annuity Standard

    {June 6th, 2018} by John Hilton

    After an inauspicious beginning, a National Association of Insurance Commissioners’ subcommittee inched closer to an annuity sales standard last week in Kansas City. The two-day meeting kicked off acrimoniously when chairman Dean Cameron announced that life insurance would not be considered. James Regalbuto, deputy superintendent for life insurance in New York, was ready. The two […]

    DPL Financial Partners Expands Annuity Offering with Allianz Partnership

    {June 6th, 2018} by DPL Financial

    LOUISVILLE, Ky.–(BUSINESS WIRE)–DPL Financial Partners (“DPL”), the commission-free insurance network for registered investment advisors (“RIAs”), today announced an agreement with Allianz Life Insurance Company of North America (“Allianz Life®”) to expand the industry leader’s offerings for the RIA market. The partnership is an important strategic step for DPL and Allianz Life, as each works to […]

    National Life Group Introduces New Customer Mobile App, Enhanced Customer Website

    {June 6th, 2018} by National Life Group

    Montpelier, VT –  (June 1, 2018)  Customers’ experience with National Life just got a whole lot better with the company’s introduction of a new customer mobile app as well as an enhanced website for policyholders, part of the company’s multi-year focus on improving customer experience. Customers will instantly have access to their National Life policies through […]

    Great-West: Include Annuities As Part Of The Conversation

    {June 5th, 2018} by Cyril Tuohy

    Annuities and fiduciary duty are usually mentioned together in the context of protecting clients in annuity transactions. But an annuity provider is turning that around by saying advisors are failing their fiduciary duty when they do not include annuities in the discussion. That’s the view of Lance Carlson, head of sales distribution for Great-West Financial. […]

    Clayton promises ‘not to take forever’ on SEC advice rule

    {June 5th, 2018} by Mark Schoeff Jr.

    Securities and Exchange Commission chairman Jay Clayton said Tuesday the agency is “not going to take forever” to complete investment advice reform regulations, but declined to say whether he’s willing to extend the comment deadline on the package. In testimony before a Senate Appropriations subcommittee, Mr. Clayton did not provide a time line for completion of […]

    Ameritas introduces competitive new life insurance product

    {June 5th, 2018} by Ameritas

    Lincoln, Neb., (June 5, 2018) – Ameritas Life Insurance Corp. has unveiled a new life insurance product designed to offer accumulation, living benefits and lifetime income for those seeking to minimize uncertainty and maximize the future. “With Ameritas Growth we have evolved the chassis of our popular existing index universal life product with several updates […]

    Financial Services Companies to Unite Against Asset Looters

    {June 5th, 2018} by Allison Bell

    About 30 companies in the life insurance and retirement services markets are teaming up to defend themselves against crooks who are trying to defraud them and their customers. LIMRA and the Life Office Management Association (LOMA), two arms of LL Global, will be hosting an organizational meeting for executives from the companies at LL Global’s headquarters in Windsor, […]

    U.S. Life Insurers Are Still Shifting Toward Harder-to-Sell Assets: S&P

    {June 5th, 2018} by Allison Bell

    Years of bond yield famine have led U.S. life insurers to make major changes in their investment portfolios, according to analysts at S&P Global. Life insurers have respected regulators’ and rating analysts investment-quality guidelines, but many have stretched the guidelines by investing in the lowest-rated, highest-paying assets that meet the guideline criteria, and by increasing their exposure to […]

    Athene Completes $19 Billion Voya Annuity Reinsurance Deal

    {June 5th, 2018} by Allison Bell

    Athene Holding Ltd. says it has now taken responsibility for $19 billion in fixed and indexed annuity liabilities from Voya Financial Inc. Athene says it and an investor group have also bought a stake in Venerable Holding Inc. Venerable is a new entity that will administer the blocks of fixed and variable annuities written by Voya Insurance and […]

    On Fiduciary Reform, Some Large States Pushing Ahead; Others Posture, With Eye on SEC Proposal

    {June 5th, 2018} by Rich Blake

    Time has all but run out on the Department of Labor’s fiduciary rule. Should the DOL fail to petition the U.S. Supreme Court by a June 13 deadline (no one expects the agency to do so), its effort to federally regulate financial-advice-giving conduct standards will become nullified. The investment-advice standard that the Securities and Exchange […]

    Clients Need More Advice As Retirement Nears, Advisors Say

    {June 5th, 2018} by Brian O'Connell

    Americans biggest fear heading into retirement isn’t death or not collecting Social Security. It’s running out of money in retirement. Forty-three percent of workers age 50 and older fear going broke in retirement, according to a TransAmerica study. A separate study from Allianz found 60 percent of baby boomers worried they’ll outlive their retirement cash. […]

    NAIC Group Blocks NY Push For Tougher Annuity Transaction Standard

    {June 5th, 2018} by John Hilton

    KANSAS CITY – The National Association of Insurance Commissioners’ working group adjourned on Friday with what some called a framework for an annuity transaction model law after a day and a half of heated debate. Much of the discussion during the half-day of discussion on Friday focused on documentation. Iowa’s conservative language won out as it […]

    FP50 2018: What independent broker-dealers produce the most revenue?

    {June 5th, 2018} by Tobias Salinger

    Independent broker-dealers have turned the corner after two straight years of shrinking returns, and the largest firms are leading the way. The firms analyzed in Financial Planning’s 33rd annual FP50 produced combined revenue of $25.7 billion in 2017, an increase of nearly 9% over the previous year and the best results since 2014. However, the positive returns […]

    FP50 2018: Independent broker-dealers adapt to survive

    {June 5th, 2018} by Tobias Salinger

    IBDs began the movement to independence. Now they risk being overtaken by it. The headwinds shaking the industry haven’t relented, even after independent broker-dealers produced their strongest revenue growth in three years. Serious pressures face the top IBDs analyzed by Financial Planning for the 33rd annual FP50. Shrinking margins and bulked-up regulatory oversight, and growing competition and […]

    Imeriti Financial Network (IFN) is Now Simplicity Life Inc.

    {June 5th, 2018} by Simplicity Group

    Nearly two years after Simplicity Financial Marketing Group Holdings Inc. (Simplicity Group) completed its purchase of Imeriti Financial Network (IFN), IFN will change its corporate name to Simplicity Life Inc. (Simplicity Life). The name change reflects Simplicity Life’s continued focus on maintaining an industry leading life insurance and annuity marketing platform under its current management […]

    Variable Universal Life Premiums Grow Again: LIMRA

    {June 4th, 2018} by Allison Bell

    Variable universal life (VUL) insurance may account for only about 6% of new U.S. retail life insurance sales, but sales of that product continue to grow like a weed. Insurers sold 8% more VUL policies in the first quarter than they sold in the first quarter of 2017, and annualized premiums from sales of new […]

    100 facts your clients need to know about annuities: REPRINT

    {June 4th, 2018} by Sheryl J. Moore

    Did you know that that the top fear of Americans is outliving their retirement income? Death comes in as the second top fear. It’s easy to see that annuities are still the black box of the insurance industry … what a shame. Did you know that the top fear of Americans is outliving their retirement income? (Death […]

    ANNUITIES: UNDER-PROMISE AND OVER-DELIVER: BLOG

    {June 4th, 2018} by Walker Ham

    The word “annuity” used to be taboo when said around financial advisors, and if your client were to Google the term, they’d find all kinds of information about how bad annuities are. And don’t even get me started on all the advertisements from Fisher Investments. However, over the past few years annuities have started to get […]

    Global Atlantic Closes $9 Billion Reinsurance Transaction

    {June 4th, 2018} by Global Atlantic Financial Group Limited

    NEW YORK–(BUSINESS WIRE)–Global Atlantic Financial Group Limited announced the successful closing of its $9 billion reinsurance transaction through a subsidiary, executed in conjunction with The Hartford’s sale of Talcott Resolution to an investor group. With this closing, Global Atlantic further solidifies its reputation as a leader in block reinsurance transactions for the U.S. life and annuity marketplace, […]

    Though More Comfortable with Volatility, Americans Still Lean toward Protecting Retirement Savings

    {June 4th, 2018} by Allianz Life Insurance Company of North America

    MINNEAPOLIS–(BUSINESS WIRE)–Americans are becoming more comfortable with market volatility in the short term, but market gyrations so far this year have them increasingly interested in finding ways to protect their savings from such volatility. According to the 2018 Market Perceptions Study* from Allianz Life Insurance Company of North America (Allianz Life®), more than a third (35%) […]

    A.M. Best Comments on Credit Ratings of Kansas City Life Insurance Company Following Announced Acquisition

    {June 4th, 2018} by A.M. Best

    Oldwick – A.M. Best has commented that the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of Kansas City Life Insurance Company (Kansas City Life) remain unchanged following the company’s announced acquisition of Grange Life Insurance Company (Grange Life), domiciled in Columbus, OH. Concurrently, A.M. Best has commented that the FSR of […]

    A.M. Best Removes Under Review with Developing Implications and Affirms Credit Ratings of Voya Financial, Inc. and Subsidiaries

    {June 4th, 2018} by A.M. Best

    Oldwick – A.M. Best has removed from under review with developing implications and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” of the key life insurance entities of Voya Financial, Inc. (Voya) (headquartered in New York, NY) [NYSE: VOYA]. Concurrently, A.M. Best has removed from under review with […]

    Higher interest rates fuel retirement account annuities

    {June 4th, 2018} by Richard Stolz

    When the yield on the 10-year U.S. Treasury note recently peaked a few basis points above 3% in May, for many market observers, a psychological barrier had been breached. That closely watched benchmark bond hadn’t exceeded 3% since July of 2011. “That’s a pretty significant level,” notes Frank O’Connor, VP of Research and Outreach for […]

    The Penn Mutual Life Insurance Company Announces 2018 Recipient of the Life of Significance Award

    {June 3rd, 2018} by Penn Mutual Collegiate Rugby Championship

    PHILADELPHIA, June 3, 2018 (Newswire.com) – During the 2018 Penn Mutual Collegiate Rugby Championship (CRC), which took place at Talen Energy Stadium in Chester, PA on June 1-3, The Penn Mutual Life Insurance Company (Penn Mutual) presented Nick Carey of Harvard University with the fourth annual Life of Significance Award. Carey, who will graduate in 2019, […]

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