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  • Thrivent, DOL Anti-Arb Fiduciary Tussle Continues

    {October 19th, 2017} by Melanie Waddell

    The ongoing legal battle between Thrivent Financial for Lutherans and the Department of Labor over Labor’s fiduciary rule continues.   Thrivent has been fighting to halt the fiduciary rule’s anti-arbitration clause set out in the rule’s best-interest contract exemption, and filed a motion for preliminary injunction against the rule.   Click HERE to read the original […]

    Annuities Are Misunderstood, TIAA Says

    {October 19th, 2017} by Karen Demasters

    Americans crave a guaranteed income for retirement, but only a small minority have purchased an annuity, according to the 2017 “TIAA Lifetime Income Survey” released Tuesday. Only 13 percent of the 671 non-retired people surveyed by the financial services firm TIAA said they have purchased an annuity, the only retirement product that guarantees an income […]

    Life Insurance Customer Satisfaction Reaches All-Time High

    {October 19th, 2017} by J.D. Power

    COSTA MESA, Calif.: 17 Oct. 2017 — Improved economic conditions, favorable pricing and better customer engagement have driven customer satisfaction with U.S. life insurance plans to a record high, according to the J.D. Power 2017 U.S. Life Insurance StudySM released today. “U.S. life insurers have been doing a great job of converting increased demand into more […]

    10 ways to attract Millennials to insurance

    {October 19th, 2017} by Chris Davies

    Insurance is facing a millennial recruitment crisis. According to a recent study from Hartford, only a mere 4% of millennials are interested in pursuing a career within the sector. Whether you’re an industry veteran or a fresh-faced insurance millennial yourself, one thing is clear: something has to be done. Luckily, we’ve put together 10 ideas that […]

    John Hancock Partners with USA TODAY SPORTS Active Alliance to Become Official Life Insurance Partner of the Baltimore Marathon and Launches “Boston Bound” Sweepstakes

    {October 19th, 2017} by John Hancock

    BOSTON, Oct. 18, 2017 /PRNewswire/ — John Hancock is partnering with USA TODAY SPORTS Active Alliance to become the Official Life Insurance Partner of the Baltimore Marathon, and launching the “Boston Bound” Sweepstakes. Through this partnership, John Hancock, the only U.S. insurer to offer life insurance with Vitality that rewards customers for healthy living and the 33-year principal sponsor of the Boston […]

    DOL Rule Delay Expected to Fuel 2018 Annuity Sales Spike

    {October 19th, 2017} by Cyril Tuohy

    The expected 18-month delay in the Department of Labor fiduciary rule will drive a healthy 2018 annuity sales rebound, analysts say. New sales of individual U.S. fixed and variable annuities are forecast to grow 5 percent in 2018, LIMRA analysts said. In the spring, before the delay was announced, LIMRA forecast up to a 15 […]

    Insurer Group Promotes Indexed Annuities in New Video

    {October 17th, 2017} by Allison Bell

    A coalition of eight life insurers is working to promote indexed annuities in a new animated video aimed at consumers. The group, the Indexed Annuity Leadership Council, has posted the video, “How to Tell FIA Facts From FIA Fiction,” on YouTube.    The new IALC video is a sequel to other IALC indexed annuity videos, including “Get the Basics […]

    Brokers support Finra ranking of reps to identify bad apples as long as list stays private

    {October 17th, 2017} by Mark Schoeff Jr.

    Brokers and securities compliance experts support Finra’s effort to rank registered representatives and target those it believes pose the biggest threat to investors — as long as the broker-dealer regulator keeps the list to itself. Susan Axelrod, Finra executive vice president for regulatory operations, said Monday that the Financial Industry Regulatory Authority Inc. has ranked […]

    Nearly Half—48%—of Investors Own an Annuity

    {October 17th, 2017} by Lee Barney, EDITORS@STRATEGIC-I.COM

    The acceptance and use of annuities—and the tremendous appetite for the guaranteed income that they offer—are more widely accepted than many retirement plan advisers and investors realize, Jackson National Life found in a study conducted for the Insured Retirement Institute (IRI), “The Language of Retirement 2017: Advisor and Consumer Attitudes Toward Income in Retirement.”  According […]

    Pat Gallagher explains what makes him most proud about AJG

    {October 17th, 2017} by Sam Boyer

    Businesses success can be determined in so many ways – by profit, by revenue, by the number of deals made, by market share. But Arthur J. Gallagher chairman, president, and CEO Pat Gallagher has a different measure of success. When he spoke with Insurance Business recently, he didn’t count as his greatest corporate achievement the […]

    Guardian’s Top Annuity Sales Executive Says the Excitement Is Back

    {October 17th, 2017} by Allison Bell

    A player in the U.S. annuity distribution market says the individual annuity market really does look better now than it did just a few months ago. Jim Lake, a vice president at the Guardian Life Insurance Company of America, heads the Guardian’s life, disability insurance, and retirement products sales operation. He took the heat as low-interest rates and uncertainty about regulations pounded sales starting […]

    Making Life Insurance Make Sense to the Women’s Market

    {October 17th, 2017} by Megan Rafferty

      As women’s average salaries and business ownership continue to grow, life insurance firms recognize marketing to women as a valuable opportunity. A  thorough understanding of how to work with women is key for advisors who are considering selling to this growing market. With both significant challenges and opportunities in the life insurance market, advisors […]

    DOL fiduciary rule delay boosts prospects for annuity sales

    {October 17th, 2017} by Greg Iacurci

    A proposed delay to the Department of Labor’s fiduciary rule is leading to big increases in annuity sales projections next year. The regulation, which raises investment-advice standards in retirement accounts, was expected to put a severe dent in product sales, especially for variable and indexed annuities. That slump has been playing out since the rule […]

    Tax Reform a Mixed Bag for Life Insurers

    {October 17th, 2017} by Cyril Tuohy

    The Trump administration’s tax reform plan to cut corporate tax rates will generally favor life and annuity companies, but could cause some executives to take a more conservative management approach, analysts say. The White House is pressing Congress to pass a plan by the end of the year, but some legislative analysts remain skeptical that […]

    IUL Premium Growth Nearly 3X Industry Average In 2Q

    {October 17th, 2017} by Cyril Tuohy

    Indexed universal life (IUL) was a rock star among life insurance products in the second quarter, according to LIMRA data. Although annualized premiums for all major life insurance products showed gains in the second quarter, IUL was the primary driver behind those gains. New annualized IUL premium rose 8 percent in the second quarter, nearly […]

    Finra ranking brokers in effort to crack down on industry’s bad apples

    {October 17th, 2017} by Mark Schoeff Jr.

    As part of its crackdown on rogue brokers, the Financial Industry Regulatory Authority Inc. has ranked all 634,403 registered reps it regulates and is targeting those who it believes pose the biggest threat to investors, a Finra executive said Monday. Susan Axelrod, Finra’s executive vice president for regulatory operations, said the rankings are based on […]

    Fee-Based Annuities and the Fiduciary Rule: One Size Doesn’t Fit All

    {October 17th, 2017} by Robert Bloink, and William H. Byrnes

    Despite the extended delay of the Department of Labor fiduciary rule, insurance carriers have wasted no time in introducing a line of annuity products designed to fit within the rule’s constraints.  Click HERE to read the original story via ThinkAdvisor. Thus far, fee-based annuities have seemed like the product of choice for advisors who wish to […]

    5 Things to Know About Valuing Annuities and Other Client Assets

    {October 16th, 2017} by Stephan R. Leimberg, L. Paul Hood, Jr., Jay Katz, Edwin P. Morrow, and Martin M. Shenkman

    Here’s a look, by advanced planning specialists, at valuation planning, a topic of great interest to anyone who wants to start to think about the high-net-worth market. “Valuation planning” describes any technique used to affect the valuation of property or business interests for gift, estate, or generation-skipping transfer tax purposes. THIS THINKADVISOR STORY IS EXCERPTED FROM: Click HERE […]

    FINRA Data Shows 15-Year Decline in BDs

    {October 16th, 2017} by Melanie Waddell

    The Financial Industry Regulatory Authority made live on Monday statistics regarding the “trend line” detailing the number of broker-dealers entering and leaving the profession. Click HERE to read the original story via ThinkAdvisor.  FINRA CEO Robert Cook noted Thursday at an event held by the Securities Industry and Financial Markets Association the decline in the number of […]

    Commonwealth CEO Upbeat on DOL Fiduciary, ‘RIA-zation’

    {October 16th, 2017} by Janet Levaux

    John Rooney warmly greeted more than 860 advisors and about 810 other guests at Commonwealth Financial Network’s nationwide gathering, which recently took place in San Diego. “It’s been 17 years since we moved to San Diego [to open Commonwealth’s West Coast headquarters], and we’re finally hosting the national conference in America’s finest city,” explained the […]

    Q2 Bank Annuity Sales Start to Firm Up

    {October 16th, 2017} by Allison Bell

    Banks and other financial institutions are telling LIMRA that U.S. annuity sales totals started to look better in the second quarter. Financial institutions reported that they generated $9.7 billion in individual annuity sales from April through June. That total is 9.3% lower than the comparable total for the second quarter of 2016. But the year-over-year […]

    Fidelity Investments® Introduces New Annuity: IncomeSource® Series from Western & Southern Financial Group

    {October 16th, 2017} by Fidelity Investments

    October 16, 2017 09:35 AM Eastern Daylight Time BOSTON–(BUSINESS WIRE)–Fidelity Investments® today announced the addition of IncomeSource®, a Single Premium Immediate Annuity underwritten by two Western & Southern Financial Group (“Western & Southern”) member companies, to the Fidelity Insurance Network®. The first Western & Southern annuity to be offered in Fidelity’s product line-up, it enables […]

    Schwab TV Ads Tout Advisors’ Fiduciary Status

    {October 16th, 2017} by Melanie Waddell

    Schwab Advisor Services is touting the fiduciary status of the independent advisors who custody assets at the firm. Schwab’s “Independent Difference” TV spots started airing Monday on CNBC and Fox Business Network, showcasing independent advisors from across the nation. They are designed to put “independent advisors front and center.” Click HERE to read the original […]

    IRS warns of scam targeting annuity, life insurance accounts

    {October 16th, 2017} by Financial Services Roundtable

    The IRS has issued a warning to financial professionals about cybercriminals trying to gain access to clients’ annuity and life insurance accounts. In one such scam, the criminals impersonated a company that supplies computer cloud services and attempted to obtain tax professionals’ usernames and passwords. Click HERE to read the original story via InvestmentNews; registration […]

    FP50 2017: Which IBDs made the most in annuity sales?

    {October 13th, 2017} by Tobias Salinger

    FP50 2017: Which IBDs made the most in annuity sales? Annuity revenue fell for eight of the top 10 sellers on Financial Planning‘s annual FP50 ranking of independent broker-dealers. Sales of all kinds of annuities have fallen across the industry to a 16-year low, and experts attribute much of the dropoff to the fiduciary rule. Still, the No. […]

    Florida insurance agent charged in complex scam

    {October 13th, 2017} by Ryan Smith

    A Florida insurance agent has been arrested for allegedly orchestrating a complex insurance scam. Jose Caballero-Morlesin, an owner of Miami-based Axis Underwriters, is accused of enlisting a finance company to pay annual premiums tied to phony insurance applications, according to the Florida Department of Financial Services (DFS). Caballero allegedly submitted a total of 38 fake […]

    Fake Insurance Tax Form Scam Aims at Stealing Data from Tax Pros, Clients

    {October 12th, 2017} by IRS

    IR-2017-171, Oct. 12, 2017 WASHINGTON – The Internal Revenue Service today alerted tax professionals and their clients to a fake insurance tax form scam that is being used to access annuity and life insurance accounts. Cybercriminals currently are combining several tactics to create a complex scheme through which both tax professionals and taxpayers have been […]

    House panel approves legislation to kill DOL fiduciary rule, and 2 other adviser-related bills

    {October 12th, 2017} by Mark Schoeff Jr.

    The House Financial Services Committee on Thursday approved legislation that would kill the Labor Department fiduciary rule and replace it with an investment advice regulation to be written by the Securities and Exchange Commission. Click HERE to read the full story via InvestmentNews; registration required.

    Finra cracks down on faulty variable annuity exchanges

    {October 12th, 2017} by Greg Iacurci

    Finra is continuing its crackdown on variable annuity misconduct this year, following a blistering year of fines related to VA sales in 2016. Two recent enforcement actions from the Financial Industry Regulatory Authority Inc. demonstrate the watchdog’s attention on variable annuities, especially faulty annuity exchanges. Click HERE to read the full story via IvestmentNews; registration […]

    Industry Groups Warn DOL Against Picking ‘Winners and Losers’

    {October 12th, 2017} by Cyril Tuohy

    Regulators should remove their “clear bias” toward fee-based products and stay away from picking “winners and losers,” as they seek to amend key parts of the Department of Labor’s fiduciary rule, industry groups say. The DOL’s preference for “clean (fund) shares” and fee-based annuities shows the DOL is more interested in developing fee-for-service models and […]

    Advisor’s death in Vegas shooting leaves RIA firm struggling on multiple fronts

    {October 12th, 2017} by Suleman Din

    As Steve Berger’s colleagues at EFS Advisors were setting up a memorial fund for his family, they were also wrestling with a business problem: There wasn’t a strong continuity plan for his practice. Berger, a financial advisor, was killed in the Oct. 1 mass shooting in Las Vegas, and his death shook the tight-knit hybrid […]

    Will fixed index annuities rebound in the fiduciary era?

    {October 12th, 2017} by Tobias Salinger

    Debate over the fiduciary rule cast annuities in a harsh light, resulting in a recent sales slump, but fixed index annuity issuers and distributors remain optimistic. Few firms have slammed the Department of Labor rule more vocally than annuity firms and their advocates. The Trump administration pushed back full implementation of the rule by 18 months, but experts have […]

    Bill Bainbridge Named Senior Vice President of Product for Voya’s Annuities and Individual Life businesses

    {October 12th, 2017} by Voya

    THURSDAY, OCTOBER 12, 2017 WEST CHESTER, Pa., Oct. 12, 2017 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that Bill Bainbridge, FSA, MAAA, CERA has been appointed senior vice president and leader of all product development and in-force management for the company’s Annuities and Individual Life businesses. He will oversee a team of more than 40 professionals […]

    If you are as passionate about this industry as we are…..join us! Product Analyst, apply within!

    {October 11th, 2017} by Victoria Peterson

    We are looking for our next insurance industry rock star to anchor down Wink’s administrative unit. Beyond technical skill, does attention to detail and the ability to effectively present results come naturally for you? GREAT, this career is for YOU!  Wink, Inc. Job Title: Product Analyst Department: Service Reports To: Vice President, Operations Position Type: […]

    FINRA sanctions broker for alleged sideline selling annuities

    {October 11th, 2017} by Margarida Correia

    A broker who ran a thriving business secretly selling annuities while employed at U.S. Bank was suspended for four months and fined $7,500 for his undisclosed business venture, according to his recent settlement with FINRA. Charles Cumber allegedly sold $2.63 million in equity-indexed annuities to 20 individuals, 13 of them customers of U.S. Bancorp Investments, […]

    Annuity-Friendly Nominee at DOL

    {October 11th, 2017} by Kerry Pechter

    Donald Trump’s nominee for the top job at the Department of Labor’s Employee Benefits Security Administration will be Preston Rutledge of the Senate Finance Committee staff, according to press reports yesterday. If nominated and approved, he’d replace Phyllis Borzi, who authored the Obama administration’s fiduciary rule. If the reports about the nomination in PoliticoPro are […]

    Athene Holding’s Wheeler joins ACLI board

    {October 11th, 2017} by Record Staff

    The American Council of Life Insurers has elected William Wheeler, president of Athene Holding Ltd., to its board of directors. Wheeler, who has more than 30 years of insurance and financial services experience, joined Athene Holding in September 2015. The Bermuda-based holding company oversees business units that include West Des Moines-based Athene USA. Before joining […]

    Insurers Get Creative With Products in Delayed Fiduciary World

    {October 11th, 2017} by Cyril Tuohy

    Retirement product development against the backdrop of a delayed Department of Labor fiduciary rule is leading to a more mature view of the regulation, an insurance industry expert said Monday. The upshot of the product activity indicates a more nuanced approach to the DOL landscape compared to spring 2016. At that time, insurers and distributors […]

    It’s time for the life insurance industry to ditch illustration comparisons

    {October 10th, 2017} by Barry Flagg

    The life insurance industry is “married” to illustration comparisons. This is not to say policy reviews aren’t needed. Life insurance is the last, largest, most-neglected asset on the client’s balance sheet. As is often the case, neglect breeds poor-performance, and life insurance is no exception, having been among the worst-performing assets relative to clients’ expectations […]

    AXA Financial Extends Grace Periods On Policies

    {October 10th, 2017} by Cyril Tuohy

    Four AXA Financial insurers have relaxed the premium payment grace period for life, health and disability policyholders throughout Florida, U.S. Virgin Islands and Puerto Rico in the wake of hurricanes Irma and Maria. Premium payments toward contracts underwritten by AXA Equitable Life, .(formerly The Equitable Life Assurance Society of the U.S.), AXA Equitable Life and […]

    Tough Lessons Fuel the Rise of Hybrid Variable Annuities

    {October 10th, 2017} by Cyril Tuohy

    Life and annuity insurers, with memories still fresh about promises they struggled to keep, don’t want to make the same mistakes twice. More than a decade ago, insurers sold variable annuities with generous promises policyholders couldn’t refuse. But when interest rates collapsed after the financial crisis, companies were on the hook for contracts paying 8 […]

    Wife Accused of Killing Husband Can Sue Insurer That Froze Life Insurance Proceeds

    {October 10th, 2017} by Steven A. Meyerowitz

    This story is reprinted with permission from FC&S Legal, the industry’s only comprehensive digital resource designed for insurance coverage law professionals. Visit the website to subscribe. A federal district court in Georgia has refused to dismiss claims brought against a life insurer by a wife accused of killing her husband after the insurer froze the account into which it had previously deposited […]

    SIFMA: State-level fiduciary rules would confuse investors

    {October 10th, 2017} by Mark Schoeff Jr.

    A major financial industry trade association is warning today that state-level fiduciary duty laws would confuse investors and financial advisers rather than deliver the protections envisioned by the measures. In testimony today in Las Vegas, Lisa Bleier, managing director of public policy and advocacy for the Securities Industry and Financial Markets Association, plans to tell […]

    Voya Financial Schedules Announcement of Third-Quarter 2017 Results

    {October 10th, 2017} by Voya Financial

    NEW YORK, Oct. 9, 2017 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that it will host a webcast and conference call on its third-quarter 2017 earnings on Wednesday, November 1, 2017, from 10 a.m. to 11 a.m. (ET). Voya will issue a press release announcing the company’s financial results for the third quarter of 2017 after the […]

    A.M. Best Benchmarking Analysis Shows Most U.S. Life/Annuity Insurers Well-Capitalized; Impact from Methodology Changes Likely to Be Minimal

    {October 10th, 2017} by A.M. Best

    OLDWICK, N.J.–(BUSINESS WIRE)–An A.M. Best analysis of the U.S. life/annuity (L/A) industry under the rating agency’s revised Best’s Credit Rating Methodology (BCRM) and its new building block approach revealed that approximately one-third of the rated population had the strongest category of balance sheet strength. The Best’s Special Report, titled “U.S. Life/Annuity Industry – Building Block Approach Confirms Well […]

    AXA Financial Extends Grace Periods On Policies

    {October 10th, 2017} by Cyril Tuohy

    Four AXA Financial insurers have relaxed the premium payment grace period for life, health and disability policyholders throughout Florida, U.S. Virgin Islands and Puerto Rico in the wake of hurricanes Irma and Maria. Premium payments toward contracts underwritten by AXA Equitable Life, .(formerly The Equitable Life Assurance Society of the U.S.), AXA Equitable Life and […]

    ACLI Elects 2018 Chairman and Board of Directors

    {October 10th, 2017} by ACLI

    Mark Mullin of Transamerica Elected ACLI Chairman Washington, D.C. (October 9, 2017) — The American Council of Life Insurers (ACLI), whose member companies provide financial and retirement security to 75 million American families, elected its chairman, officers and board of directors at the ACLI 2017 Annual Conference.   Mark Mullin, president and CEO of Transamerica, was […]

    7 Exclusions From the Fiduciary Rule ‘Investment Advice’ Definition

    {October 10th, 2017} by Marcia S. Wagner, J.D., Stephen J. Migausky, J.D., and Livia Quan Aber

    The U.S. Department of Labor could, ultimately, still implement its fiduciary rule. The scope of the rule is quite broad, but the DOL has created several exclusions from its new definition of “investment advice.” So long as communications or transactions fall under one of the excluded categories, they will not be deemed to be fiduciary advice, even if […]

    Insurers Should Digitize Retirement Services Sales: McKinsey

    {October 10th, 2017} by Allison Bell

    Making more use of website sales systems and call centers could increase insurers’ sales of life and annuity products to U.S. retirement savers. Consultants at McKinsey & Company make that argument in a new report based on a recent survey of about 4,600 U.S. adults. The consultants are releasing the report as the country is heading into National […]

    Dan LaBert to Lead NAILBA

    {October 10th, 2017} by Allison Bell

    The National Association of Independent Life Brokerage Agencies has picked a veteran association manager to run its operations. The Fairfax, Virginia-based group says Dan LaBert will be its new chief executive officer. NAILBA represents the interests of independent wholesale life brokerage agencies. Click HERE to read the original story via ThinkAdvisor. The head of a major outreach campaign […]

    5 Top Annuity Videos of the Year

    {October 10th, 2017} by Allison Bell

    One way to find out what’s happening in the annuity market now is to play with your computer. Interest rates have been low. Regulations have been complicated. Hurricanes have eaten into prospects’ planning time, by forcing them to focus on near-term disaster prep, instead of the long-range kind. Click HERE to read the original story via ThinkAdvisor. But, now, […]

    New annuities sparked by fiduciary rule ‘disruption’

    {October 10th, 2017} by Tobias Salinger

    The fiduciary rule has helped drive a slump in annuity sales, but products emerging in its wake could reverse the downward trend, experts say. The space has seen big changes. In the third quarter, sales dropped to their lowest level since 2001, according to the LIMRA Secure Retirement Institute. Fixed sales outpaced those of variable annuities for the […]

    Ohio National introduces new indexed universal life insurance

    {October 10th, 2017} by Globe Newswire

    CINCINNATI, Oct. 09, 2017 (GLOBE NEWSWIRE) — Ohio National Financial Services is pleased to introduce a new indexed universal life (IUL) insurance product that offers the flexibility and protection of a universal life policy with indexed account options to help build cash value. “The Virtus IUL policy provides the protection component our clients need and […]

    Barriers to Accelerated Underwriting Beginning to Crumble

    {October 10th, 2017} by Cyril Tuohy

    Accelerated underwriting began breaking down the remaining barriers to a digital world of life insurance distribution last year thanks to new technologies and services provided by large insurers and start-ups alike, according to a new report. Life insurance application and issuance, two of three steps necessary before buyers receive coverage, have been digitized for years. […]

    Brokers Violating DOL Rule by Shifting Clients to Fee Accounts: Roper

    {October 9th, 2017} by Melanie Waddell

    The Consumer Federation of America is urging regulators to investigate incidences of broker-dealers shifting retirement savers into fee-based accounts from less expensive commission accounts, which violates the Department of Labor’s fiduciary rule. Click HERE to read the original story via ThinkAdvisor.  Since Labor’s rule was finalized, “industry lobbyists have repeatedly claimed that brokerage firms are responding […]

    Insurance industry is ‘terrific future for young people’: Patrick G. Ryan

    {October 6th, 2017} by Bethan Moorcraft

    The insurance industry is a fantastic place for young professionals – but it’s not doing a great job of getting that message across. A lot of people in the industry are concerned about the undeniable age gap in the insurance workforce. There’s a widespread lack of understanding among younger generations about what the industry actually […]

    SEC begins working with DoL on fiduciary rule

    {October 6th, 2017} by Kenneth Corbin

    The SEC has begun to work with the Department of Labor on a fiduciary rule proposal to harmonize the standards of conduct for advisors and broker-dealers, Jay Clayton, the agency’s chairman, told members of the House Financial Services Committee. Clayton’s comments suggest that after months of collecting and reviewing comments on what a uniform fiduciary […]

    House GOP Members Press Fight Against DOL Rule

    {October 6th, 2017} by John Hilton

    While the most disliked aspects of Department of Labor fiduciary rule are expected to be officially delayed any day now, lawmakers continue to push legislative alternatives. Last week, Rep. Ann Wagner, R-Mo., introduced a bill to create a new advisory standard somewhere between fiduciary and suitability. It would amend the Securities Exchange Act of 1934 […]

    Life Insurance as a Retirement Asset

    {October 5th, 2017} by John Dallas

    One of the notable changes in the American economy over the last couple of decades has been the virtual disappearance of the steady 40-year career with one employer. It has been replaced with a culture where workers move from job to job, sometimes combining multiple part-time gigs to stitch together a required income. This new workforce […]

    TIAA Calls for More Annuities in Workplace Retirement Plans

    {October 5th, 2017} by Michael S. Fischer

    Few workplace savings plans provide resources such as annuities to guarantee that savings will last throughout retirement, according to a recent white paper from TIAA. This “guarantee gap,” it says, undermines the very purpose of the retirement savings plan system, which is to minimize the risk of both poverty among retirees and strain on the social safety […]

    SEC ‘Working on’ Fiduciary Rule, Concerned About State Laws: Clayton

    {October 5th, 2017} by Melanie Waddell

    Securities and Exchange Commission Chairman Jay Clayton told lawmakers Wednesday that the agency is “working on” a fiduciary rule proposal and that he’s concerned about the state fiduciary standards that are cropping up. Rep. Ann Wagner, R-Mo., asked Clayton during a hearing held by the House Financial Services Committee on Wednesday if he was “concerned about […]

    SEC chief Jay Clayton tells lawmakers agency is drafting its own fiduciary duty rule

    {October 5th, 2017} by Mark Schoeff Jr.

    Securities and Exchange Commission Chairman Jay Clayton told lawmakers on Wednesday that the agency is drafting a proposal for a fiduciary rule. The agency is trying to catch up with the Department of Labor, which partially implemented its own fiduciary rule in June and is currently conducting a review of the regulation’s enforcement mechanisms as ordered by […]

    Delaware Life Begins to Make its FIA Mark

    {October 5th, 2017} by Cyril Tuohy

    Last month’s rebranding of Delaware Life Holdings to Group One Thousand One comes in the wake of successful efforts by subsidiary Delaware Life Insurance to boost its distribution network, according to analysts. Last year Delaware Life Insurance, based in Waltham, Mass., added new IMOs and five new independent broker-dealers (IBD) to its distribution network, according […]

    AIG Assets Surge by `Billions of Dollars’ With Digital Push

    {October 5th, 2017} by Sonali Basak, and Julie Verhage

    American International Group Inc., the 98-year-old insurer and retirement planner, is finding being tech-savvy pays off. Consumers are pumping cash into a unit that oversees $244 billion in client assets after it invested in digital platforms to make the process easier, according to the head of the division, Kevin Hogan. “We believe our assets are up […]

    Auctus Hopes to Offer Blockchain-Based Annuity Distribution

    {October 5th, 2017} by Allison Bell

    Managers of Auctus, an international blockchain technology startup, say they want to set up a blockchain-technology-based annuity distribution system by the end of 2018. The annuity exchange would be part of a blockchain-based pension plan platform aimed at employers. Auctus managers are now preparing to sell “Ether tokens,” or digital value contracts based on the Ethereum token standard, to raise cash […]

    3 Ways Fixed Annuities Can Outperform Bond Mutual Funds

    {October 5th, 2017} by Chris Conklin

    Risky vs. safe. How often do you break down that concept with your clients regarding their financial asset allocation? Determining what portion of a client’s finances should be used for “risky” investments to maximize growth potential and “safe” options to ensure preservation of capital is one of the first — and most important — conversations a […]

    Delay of fiduciary rule likely to be challenged in court

    {October 5th, 2017} by Nick Thornton

    Consumer advocates question Labor’s legal authority to issue delay The Labor Department’s proposal to delay the full implementation of the fiduciary rule to July 2019 will likely meet a legal challenge from consumer advocate groups, according to several sources. “If they finalize the delay as it is proposed, Labor should expect a legal challenge,” said Micah Hauptman, […]

    Consumer Federation of America claims brokerage firms may be violating DOL fiduciary rule

    {October 5th, 2017} by Jeff Benjamin

    The Consumer Federation of America is calling on multiple regulatory bodies to “investigate potential rule violations related to broker-dealer firms’ improper implementation” of the Department of Labor’s fiduciary rule. In letters sent this week to Labor Secretary Alexander Acosta, Securities and Exchange Commission Chairman Jay Clayton, and Finra CEO Robert Cook, the CFA challenges as […]

    Best of Des Moines Winners 2017 

    {October 5th, 2017} by Jamie Johnson

    Which insurers took the honors for the Business Record’s annual Best of Des Moines poll results? Click HERE to view the full results.  Principal topped out Best Life Insurance Company, Best Company to Work For, Best Company for Young Professionals, Best Company for Diversity in the Workplace, Best Company for Women to Work For, Best […]

    New York Life Announces New Employee Benefit to Ease the Burden of Student Loans

    {October 4th, 2017} by New York Life

    NEW YORK,NY (PRWEB) OCTOBER 03, 2017 Recognizing the stress and financial burden that student debt can create, New York Life has launched a student loan repayment program offering up to $10,200 over five years for eligible employees*, as well as student loan advice and online planning tools. Through the new benefit, employees who have taken out […]

    Northwestern Mutual Named Top Company for Women Technologists

    {October 4th, 2017} by Northwestern Mutual

      MILWAUKEE, Oct. 4, 2017 /PRNewswire/ — Northwestern Mutual announced today it has been named one of the Top Companies for Women Technologists 2017 by the Anita Borg Institute, an international organization founded on the belief that women are vital to building technology that the world needs. The announcement was made at the Grace Hopper Celebration of Women in Computing Conference […]

    IMO Chief Dan Charley Recounts Living Through Irma

    {October 4th, 2017} by Cyril Tuohy

    Little more than a week ago, I was riding in the back of a plane from Philadelphia to Palm Beach sitting in the very last row of a single-aisle Embraer 190 aircraft. I was making my way south to The Breakers hotel and conference center for the annual meeting of the Insured Retirement Institute, the […]

    Alabama Securities Director Borg Steps Up as NASAA President

    {October 4th, 2017} by Melanie Waddell

    Alabama Securities Commission Director Joseph Borg on Tuesday began a one-year term as the new president of the North American Securities Administrators Association. Borg, who for the past year has been serving as NASAA’s president-elect, said in a Tuesday speech at NASAA’s annual conference in Seattle that while enforcement against fraud is “the heart” of […]

    MassMutual: Latinos Feel Less Secure and Worry More About Money Than Other Americans

    {October 3rd, 2017} by PRNewswire

    SPRINGFIELD, Mass., Oct. 2, 2017 /PRNewswire/ — Middle-income Latinos in the workforce say they feel less financially secure and worry more about money than other Americans, posing higher hurdles to planning for retirement and building wealth, according to new research commissioned by Massachusetts Mutual Life Insurance Company (MassMutual). Amongst the key findings: Emergency preparedness Three […]

    North American Introduces Fixed Index Annuity with First-to-Market Liquidity Rider

    {October 3rd, 2017} by Globe Newswire

    CHICAGO, Oct. 03, 2017 (GLOBE NEWSWIRE) — North American Company for Life and Health Insurance® today released the NAC VersaChoice 10, a fixed index annuity with an optional rider that allows clients to have more access to more of their money sooner, the first of its kind on the market. “Retirement savers want three fundamental things […]

    Armed forces personnel need the help of financial advisers

    {October 3rd, 2017} by Jeff Benjamin

    Last year, when financial planner Christy Raines helped a military widow invest part of a life insurance death benefit, it underscored both the challenges and the need for financial planning among the nation’s vast military community. “A lot of people in the military just don’t have the assets that would appeal to most financial advisers, but I […]

    7 Ways the New Tax Fight Could Hit Annuities

    {October 3rd, 2017} by Allison Bell

    For the people who create and sell annuities and other insurance-based retirement planning products, the start of high-energy efforts in Washington to update federal tax rules and programs is creating hope, and fear. The efforts could make the economy more efficient, put more money in consumers’ pockets, and leave consumers in a better position to prepare for […]

    Reality Check: Annuities in a Fiduciary World

    {October 3rd, 2017} by Scott Stolz

    I put the finishing touches on this article just hours after the Department of Labor (DOL) proposed an 18-month delay to the fiduciary rule. Now we will have to wait and see how the rule might be changed during this delay. Regardless of the final version of the DOL rule, there is little doubt that […]

    Fed’s Yellen Said Vote to Free AIG Was Based on Firm’s Changes

    {October 3rd, 2017} by Jesse Hamilton

    Federal Reserve Chair Janet Yellen said freeing American International Group Inc. from the tight scrutiny tied to its too-big-to-fail label is an example of the process working properly — proving that a systemically important financial institution can make itself less risky. “AIG has largely sold off or wound down its capital markets businesses, and has become a smaller […]

    Rep. Wagner Introduces Bill to Kill DOL Fiduciary Rule

    {October 3rd, 2017} by Melanie Waddell

    Rep. Ann Wagner, R-Mo., introduced Wednesday her bill to repeal the Labor Department’s fiduciary rule. Wagner said on Sept. 7 that she would introduce her bill, the Protecting Access for Small Savers Act, which keeps a fiduciary rulemaking under the Securities and Exchange Commission’s jurisdiction, by the end of September and would push for a […]

    What Happens When You Outlive Your Life Insurance Policy?

    {October 3rd, 2017} by MoneyTips, Contributor

    Congratulations! You made it to your 100th birthday. You’ve joined an exclusive, but growing, group of centenarians. The 2010 U.S. Census counted 53,364 centenarians, as compared to 32,194 in 1980. (I doubt anyone was counted in both tallies.) You probably received many presents and lots of adoration from your family, but you may have also […]

    The Surprise ‘Expiration Date’ On Life Insurance Policies

    {October 3rd, 2017} by Darwin Bayston

    The Wall Street Journal recently brought attention to a problem that is quietly impacting the estates of Americans who are fortunate enough to realize their 100th birthdays: the expiration of the life insurance policies they believed to be permanent assets. Some whole and universal life insurance policies in force today were designed to cover the […]

    What does the US, EU insurance agreement really mean?

    {October 3rd, 2017} by Lucy Hook

    On Monday, we brought you the news that the European Union and the US had signed an agreement to update international insurance and reinsurance regulations and free up capital for investments – a significant move for the industry on both sides of the pond. But while there has been much talk about the importance of the deal, […]

    Bestow Partners with Munich Re, Sammons to Develop Life Insurance Products

    {October 3rd, 2017} by Anthony R. O’Donnell

    Bestow Inc. (Dallas), a startup digital life insurance distribution company, has embarked on a partnership with Munich American Reassurance Company (Princeton, N.J.), the U.S. life and disability reinsurance division of Munich Re, and North American Company for Life and Health Insurance, a member company of Sammons Financial Group (Chicago), to develop new life insurance products for Bestow’s distribution platform. Bestow’s […]

    The Penn Mutual Life Insurance Company Sponsors the Premiership Rugby American Series Match

    {October 3rd, 2017} by Penn Mutual

    Philadelphia, PA. – September 7, 2017 – The Penn Mutual Life Insurance Company (Penn Mutual), alongside partners AEG Rugby, Premiership Rugby, and NBC Sports, is proud to announce the company’s role as presenting sponsor of the Premiership Rugby American Series.  The Series event, which will take place over the next four years, will be held on September 16 in Philadelphia, […]

    Lincoln Financial Group Continues Sponsorship of American Paralympian Jeff Glasbrenner as He Embarks on “Explorers Grand Slam”

    {October 3rd, 2017} by Lincoln Financial Group

    RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group today announced its continued sponsorship of Jeff Glasbrenner, a Paralympic athlete, who in 2016, became the first American amputee to summit Mt. Everest. Lincoln Financial sponsored Glasbrenner during his journey to the top of Everest, and will continue the partnership as he sets out to achieve his subsequent goals over the […]

    Raymond James Launches Magazine For Women Planners

    {October 3rd, 2017} by FA Staff

    Raymond James announced the launch of Aspire to Greater, a publication oriented toward female advisors. Aspire to Greater will be published biannually with expert features, advisor success stories, planning tips, tales of community involvement and practice management suggestions. “This publication is an investment in women, an ode to those who have traversed the rocky path […]

    4 Facts About New York’s New Life And Annuity Premium Rule

    {October 3rd, 2017} by Allison Bell

    Insurance regulators in New York state are getting ready to implement a new regulation that could affect how life insurers implement some types of premium increases and parameter changes involving in-force life insurance policies and annuities. Click HERE to read the original article via ThinkAdvisor. New York regulators began working on the regulation in 2008, in part in response […]

    NAFA MEMBER ALERT – NAFA IS FIGHTING TO PROTECT FIXED ANNUITIES

    {October 3rd, 2017} by NAFA

    WASHINGTON (October 2, 2017) — We are just a little over a week away from our fall Annuity Distribution Summit, and I wanted to share some information regarding some developments related to the DOL fiduciary rule and federal tax reform. On Friday, September 29, 2017, NAFA filed its reply brief in the DC Circuit Court of Appeals in […]

    Western & Southern Ad Campaign Kicks Off on NFL Telecasts

    {October 3rd, 2017} by Western & Southern

    For football fans, nothing surpasses the NFL season — cheering crowds, touchdown dances and months of top-flight competition. For producers with Western & Southern Financial Group member companies, this season brings added excitement. Beginning with Sunday Night Football on October 1, Western & Southern will debut a multi-media advertising campaign. Look for the effort to […]

    Voya Financial Named a 2017 “Great Place to Work”

    {October 3rd, 2017} by Voya

    TUESDAY, OCTOBER 3, 2017 NEW YORK, Oct. 3, 2017 /PRNewswire/ — Voya Financial, Inc. (NYSE: VOYA), announced today that it has been certified as a 2017 Great Place to Work by the independent analysts at Great Place to Work®— the global authority on high-trust, high-performance workplace cultures — for the second consecutive year. “We take pride in being a […]

    A closer look at AIG’s recovery

    {October 2nd, 2017} by Bloomberg

    The US government and American International Group Inc. have parted ways again, and for the insurer it’s the end of a nine-year journey of retrenchment and reinvention.  Friday’s announcement by the Financial Stability Oversight Council that it canceled AIG’s designation as a systemically important financial institution is a milestone in the company’s history. The New York-based […]

    Genworth and China Oceanwide Hint at U.S. Panel National Security Concerns

    {October 2nd, 2017} by Allison Bell

    Federal regulators seem to have raised questions about national security concerns in connection with efforts by China Oceanwide Holdings Group Co. Ltd. to acquire Genworth Financial Inc. The companies refer today to the concerns in an announcement about plans to withdraw and refile their joint voluntary notice for the deal with the Committee on Foreign […]

    Female Firm Owners More Likely Than Men to Be Financial Planners

    {October 1st, 2017} by Emily Zulz

    Women are more likely than men to run financial planning practices, according to the September 2017 issue of The Cerulli Edge – U.S. Monthly Product Trends Edition. Female advisors in the early stages of their career report entering the profession because they have an interest in helping people reach their financial goals. This is a major […]

    Weatherford Era Comes To A Close At IRI

    {October 1st, 2017} by Cyril Tuohy

    Last week’s announcement that Insured Retirement Institute president and CEO Cathy Weatherford would retire next year brings to an end her decade-long effort to broaden the IRI’s appeal beyond the variable annuity industry. In hindsight, enlarging the tent to include other segments of the annuity industry was perhaps the single most important strategic decision authorized by the […]

    A.M. Best Affirms Credit Ratings of Ameriprise Financial, Inc. and Its Subsidiaries

    {October 1st, 2017} by Best's News Service

    FOR IMMEDIATE RELEASE OLDWICK – SEPTEMBER 28, 2017 A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “aa-” of RiverSource Life Insurance Company (Minneapolis, MN) and its wholly owned subsidiary, RiverSource Life Insurance Co. of New York (Albany, NY). A.M. Best also has affirmed the FSR of A […]

    Thinking Of Annuities As An Act Of Civilization

    {September 29th, 2017} by Cyril Tuohy

    Advisors and carriers are facing the challenge of recasting their approaches to annuity sales. In the midst of that challenge, a psychologist urged advisors to think of insurance and risk pooling as an act of civilization and social construct. Diluting longevity risk across large groups of people and the general account of an insurance company […]

    SCC Names White as New Virginia Commissioner of Insurance

    {September 29th, 2017} by Insurance Journal

    The State Corporation Commission (SCC) in Virginia has appointed Scott A. White to serve as Virginia’s 14th Commissioner of Insurance in the 111-year history of the SCC’s regulation of the insurance industry. White assumes the post on Jan. 1, 2018, after the retirement of Jacqueline K. Cunningham. Cunningham will retire at the end of the year […]

    7 Things to Know About Life Insurance as a Retirement Strategy

    {September 29th, 2017} by Victor Ngai, Assistant VP, The Guardian Life Insurance Co. of America

    Permanent life insurance can be a great vehicle for implementing a supplemental retirement strategy, but the details involved with using life insurance that way may be hazy even for financial professionals who have life agent licenses. Here’s an introduction to life insurance “life insurance as a retirement strategy,” or LIRS, aimed at financial professionals who […]

    Advisers count the cost of complying with fiduciary rule

    {September 28th, 2017} by Rita Raagas De Ramos

    Financial advisers are counting the cost of complying with groundbreaking US regulations that compel them to put clients’ interests first. But with the final features of the rules still to come in, costs will continue to mount. The US Department of Labor’s fiduciary rule has been in place since June.  Click HERE to view the […]

    ‘Tell Ken Fisher To Stuff It’

    {September 28th, 2017} by Kerry Pechter

    A highlight reel of the Insured Retirement Institute conference in Palm Beach, Fla., this week would surely feature Julius Caesar “J.C.” Watts, the former Oklahoma Sooners quarterback who in 1995 became the first black U.S. congressman elected south of the Mason-Dixon Line since Reconstruction. Appearing on a panel discussion about politics, Watts recalled how, weeks […]

    Here’s How Financially Naive Millennial Parents Are

    {September 28th, 2017} by Bernice Napach

    The idealism of the millennial generation shines brightly in Personal Capital’s latest survey of affluent families. The online survey of just over 1,000 affluent investors, 18 or older with assets of $500,000 or more, found that millennials with children plan to spend more on their children’s college education and housing (including home purchases) than older […]

    AIG Assets Surge by `Billions of Dollars’ With Digital Push

    {September 28th, 2017} by Sonali Basak, and Julie Verhage

    American International Group Inc., the 98-year-old insurer and retirement planner, is finding being tech-savvy pays off. Consumers are pumping cash into a unit that oversees $244 billion in client assets after it invested in digital platforms to make the process easier, according to the head of the division, Kevin Hogan. Click HERE to read the original […]

    Zurich makes top 100 companies to work for list

    {September 28th, 2017} by Contributo

    Zurich North America has been selected by Working Mother magazine as one of the 100 Best Companies for 2017. It’s the fourth consecutive year Zurich has earned this honor. Zurich was recognized for its forward-thinking workplace programs, including flexible work arrangements, paid maternity leave, executive commitment and advancement of women. “We are honored to be named a 100 Best […]

    Millennials trust humans over robo-advisors: Study

    {September 28th, 2017} by Nick Thornton

    A new study exploring millennials’ attitudes on automated investing shows the generation that has grown up with mobile devices as appendages actually prefers human advice when it comes to saving for retirement. And no, the data wasn’t generated by a brokerage firm or wire house. Rather, it comes from LendEDU, a Delaware-based start-up launched by debt-saddled millennnials that has […]

    3 Types of Designated Beneficiaries You Must Understand

    {September 28th, 2017} by Stephan R. Leimberg, Jay Katz, Edwin P. Morrow, Martin M. Shenkman, and L. Paul Hood, Jr. Share

    The biggest consideration in estate planning for qualified plans and individual retirement accounts (IRAs) is determining the “right” beneficiary. Different rules apply to qualified retirement plans and IRAs, and those rules affect an account holder’s right to name a beneficiary other than a spouse. Under the Retirement Equity Act of 1984 (REA), a participant in a qualified retirement […]

    Life insurance low on millennials’ priority list

    {September 28th, 2017} by KATIE KUEHNER-HEBERT

    Millennials may want to marry, buy a house and have kids, but most aren’t thinking about buying life insurance in case they die prematurely and saddle their family with a mortgage and other bills – including their student debt, so says an Anthem survey. The survey, conducted via YouGov, collected data from 905 U.S. adults who […]

    SEC’s Clayton says agency is ‘pushing’ toward a fiduciary rule, working with DOL

    {September 26th, 2017} by Mark Schoeff Jr.

    For the past week, Securities and Exchange Commission Chairman Jay Clayton has had his hands full dealing with cybersecurity, following the agency’s disclosure of a breach that may have led to illegal trading. But he told lawmakers on Tuesday that investment advice regulation remains a top priority. Mr. Clayton’s appearance before the Senate Banking Committee mostly focused on […]

    John Hancock Introduces New Indexed UL Product Series

    {September 26th, 2017} by John Hancock

    BOSTON, Sept. 26, 2017 /PRNewswire/ — John Hancock today launched a new indexed universal life (IUL) portfolio with lower premiums, improved income potential, and policy management tools designed to help policyholders achieve their financial goals. John Hancock’s IUL policyholders can also earn significant savings and rewards for living healthy through the John Hancock Vitality Program, available with the IUL product […]

    Industry Begs DOL For More Time

    {September 26th, 2017} by Dan Jamieson

    The financial services industry is begging the U.S. Department of Labor for an even longer delay of the fiduciary rule than a proposed extension to July 1, 2019.   The DOL late last month asked for comment on its proposed delay from the current January 1, 2018 implementation date.   In comment letters, industry groups […]

    5 Financial Professional Ideas for Improving the DOL Fiduciary Rule

    {September 26th, 2017} by Allison Bell

    The Trump administration seems to be doing all that it legally can to put the U.S. Department of Labor’s fiduciary rule on the back burner. The DOL is doing what it can to postpone enforcement of the rule itself, and of the “prohibited transaction exemptions,” or batches of formal guidance, that could apply to annuities […]

    Foresters Financial Maintains A.M. Best “A” (Excellent) Ratings

    {September 26th, 2017} by Foresters Financial

    TORONTO–(BUSINESS WIRE)–Foresters Financial™, an international financial services provider, has maintained its A.M. Best financial strength1 ratings across the organization. The independent rating agency A.M. Best Company2 has given The Independent Order of Foresters (IOF) an “A” (Excellent) Financial Strength Rating (FSR). The IOF has maintained an “A” rating for 17 consecutive years. A.M. Best also affirmed the […]

    ATHENE USA Wins “Best Carrier” Award at the Inaugural Structured Retail Products (SRP) Indexed Insurance Conference

    {September 26th, 2017} by Athene USA

    WEST DES MOINES, Iowa–(BUSINESS WIRE)–Athene USA (Athene) – a leading provider of products in the retirement savings market – was recognized as a top performer at the Inaugural Structured Retail Products (SRP) Indexed Insurance Conference in Des Moines by winning the “BEST CARRIER” award. The SRP Awards are designed to recognize the best buy- and […]

    5 Living Benefits Available With IUL Products

    {September 26th, 2017} by Chad Tope

    When it comes to talking to your clients about life insurance, there’s no doubt most would rather focus on maximizing their lives today versus thinking about protecting their financial future, if the unexpected happens. For example, a recent consumer survey by Voya Financial found that almost half (45%) of Americans were willing to sacrifice their financial security if it […]

    Identity Thieves Are Trying to Loot Annuities

    {September 26th, 2017} by Allison Bell

    Officials at the Nebraska Department of Insurance say they see the identity theft crisis starting to affect the annuity sector. The Nebraska department put out a consumer alert in July after it heard of malefactors making “numerous attempts” to get into annuity contracts owned by Nebraska residents.  Since then, the department “has learned that several of these attempts have been made […]

    Keith Gillies to Lead NAIFA

    {September 26th, 2017} by Allison Bell

    The National Association of Insurance and Financial Advisors has moved Keith Gillies up into the post of president, and Jill Judd into the position of president-elect. The Falls Church, Virginia-based group was originally going to install its officers in Orlando, Florida, at the group’s annual in-person conference. Hurricane Harvey roared toward Florida as NAIFA members were preparing […]

    Clients Like Guaranteed Lifetime Income but Not Annuities: Report

    {September 26th, 2017} by Michael S. Fischer

    Most Americans are aware that they will have to rely on personal savings in retirement, as Social Security benefits will be insufficient and only 21% can expect any kind of pension, according to Jackson National Life Insurance Co. Survey results recently released by Jackson show that some 90% of consumers are very or somewhat interested in financial […]

    Many Millennials Aren’t Interested in Stock Market: Wells Fargo

    {September 26th, 2017} by Emily Zulz

    The percentage of total millennials who are not investing in the market today is large, finds the 2017 Wells Fargo Millennial Study, an online survey of 1,771 millennials (ages 20–36). The study finds that 20% of millennials are not currently invested in the market and “never plan to be.” Another 17% of millennials are not currently […]

    Ministering to the Middle Class

    {September 26th, 2017} by Steve Garmhausen

    In an industry obsessed with pursuing the wealthiest clients, Joe Jacques is perfectly happy with his mostly middle-class clientele. “They’re down to earth, good savers, responsible people,” says Jacques, 63, whose typical client has a relatively modest $750,000 investment account. “They appreciate what you’re doing, and they actually say thank you.” Jacques and his seven-person […]

    SEC ‘Pushing’ for Fiduciary Rule, Clayton Says

    {September 26th, 2017} by Melanie Waddell

    Securities and Exchange Commission Chairman Jay Clayton told Senate lawmakers Tuesday that harmonizing a fiduciary rule with the Labor Department is a top priority for him and laid out four steps the agency plans to take on such a harmonized rule. “Are you working with the DOL to harmonize that fiduciary rule so that people don’t […]

    How ‘New Frugality’ Influences Boomers’ Rising Retirement Optimism

    {September 26th, 2017} by Michael S. Fischer

    Baby boomers today are feeling financially prepared for retirement, Allianz Life reported Monday. Not only that, more boomers think they can determine their post-work expenses and have the tools to figure out the retirement puzzle. A report early in the summer said American workers’ readiness for retirement compared favorably with that of foreign peers. Click HERE to read the […]

    American Equity Investment Life Insurance Company Announces Transition of National Guard and Fire Fighter Group Insurance to Armed Forces Benefit Association

    {September 26th, 2017} by American Equity Investment Life Holding Company

    WEST DES MOINES, Iowa & ALEXANDRIA, Va.–(BUSINESS WIRE)–American Equity Investment Life Insurance Company (“American Equity”), a leading provider of fixed index annuities, and Armed Forces Benefit Association (“AFBA”) today announced that they will partner to transition American Equity’s National Guard and Fire Fighter group life insurance coverage to AFBA effective January 1, 2018. “We are […]

    EIS Group Announces Sponsorship of 10th Annual Women in Insurance Leadership

    {September 26th, 2017} by Kevin Haydon

    GlobeNewswire  Sep. 11, 2017, 10:00 AM   SAN FRANCISCO, Sept. 11, 2017 (GLOBE NEWSWIRE) — EIS Group, a leading provider of core systems and digital solutions for insurers, today announced it will be a sponsor of the 10th annual Women in Insurance Leadership, an event hosted by Digital Insurance that honors women leaders in the insurance industry. The conference […]

    How Lincoln, Erie, John Hancock Leverage Life Insurance Awareness Month

    {September 26th, 2017} by Emily Holbrook

    This month marks the 15th annual Life Insurance Awareness Month (LIAM), a consumer educational campaign created by Life Happens, nonprofit dedicated to raising awareness around the importance of life insurance. Carriers leverage LIAM each year in their quest to educate the public on why life insurance is imperative to the financial protection a family in […]

    Variable Universal Life Sales Take Lead: LIMRA

    {September 26th, 2017} by Allison Bell

    High U.S. stock prices helped life insurers sell more variable universal life insurance in the United States in the second quarter. The annualized premium total from the sale of new individual VUL policies was 5% higher in the second quarter than in the second quarter of 2016, according to new data from LIMRA. The actual number of individual VUL policies […]

    AIG to restructure into three new units, marking CEO’s first big move

    {September 25th, 2017} by Suzanne Barlyn, Sweta Singh

    (Reuters) – American International Group Inc (AIG.N) said on Monday it will reorganize into three new units and will no longer have separate commercial and consumer businesses, marking the first major strategic move by new Chief Executive Officer Brian Duperreault. Under the new structure, AIG will have a general insurance business, a life and retirement […]

    New Individual Life Insurance Premium Up In First Half Of 2017

    {September 25th, 2017} by N/A

    WINDSOR, Conn., Sept. 25, 2017 — U.S. Individual life insurance new annualized premium increased 4 percent for the first half of 2017, compared with the first six months of 2016. In the second quarter, new annualized premium increased 3 percent, according to the LIMRA U.S. Retail Individual Life Insurance Sales Survey. “All major product lines experienced annualized […]

    Guardian Life, RGA CEOs Rank Among ‘Most Powerful Women’

    {September 22nd, 2017} by Greg Shulas

    Guardian Life CEO Deanna Mulligan and RGA chief Anna Manning earned coveted spots on Fortune ‘s annual ranking of the “Most Powerful Women,” as both CEOs received credit for overseeing impressive growth at their respective firms. Fortune credited Mulligan for leading dramatic customer growth of 400% between 2012 and 2017, as Guardian Life’s client base grew from 5 million to 25 million in that time. […]

    Prudential Nabs Top Spot Among Latina-Friendly Employers

    {September 22nd, 2017} by Warren S. Hersch

    Prudential Financial occupies the number one position in a new report that ranks 50 top companies in terms of employment best practices for Hispanic professional women. The 2017 Special Report, Latina Style 50, places three other major life-annuity carriers among the list’s top 25 companies. Among them: New York Life (10th place), Nationwide (15th) and […]

    Regulators to consider downgrading federal oversight of AIG

    {September 22nd, 2017} by Ryan Smith

    Federal regulators are pondering whether to remove American International Group’s designation as a “systemically important financial institution” (SIFI). The designation subjects AIG to especially stringent federal oversight. The Financial Stability Oversight Council, which consists of senior regulators, is discussing the matter at a meeting Friday. AIG, which was one of the companies at the center of the […]

    New Group to DOL: Hands off Fixed Index Annuities

    {September 22nd, 2017} by N/A

    A new lobbying group has sprung up to contest the inclusion of fixed indexed annuities under a provision of the DOL fiduciary rule. So reports ThinkAdvisor. The group, the Fixed Annuity Consumer Choice Campaign, is circulating a petition urging DOL secretary Alexander Acosta to delay implementation of the best-interest contract exemption until July 1, 2019, and […]

    DOL Fiduciary Rule Delay All but Certain as Comment Period Closes

    {September 21st, 2017} by Melanie Waddell

    While detractors of the Labor Department’s plan to delay the remainder of its fiduciary rule continued to tell Labor that such a delay would be costly for investors, supporters of the delay argue that it’s all but needed in order to make revisions, propose new streamlined exemptions and coordinate with the Securities and Exchange Commission. Labor on […]

    Life Insurers Avoid Voluntary Biz at Their Peril: Report

    {September 21st, 2017} by Warren S. Hersch

    Life-annuity carriers are increasingly directing their focus to a fast-growth, high-margin business: group benefits, most notably employee-paid, voluntary offerings that are enjoying double-digit gains in sales. So reports A.M. Best magazine Best’s Review in an August 2017 article about the increasingly urgent efforts of insurers —AXA, Ameritas, Guardian Life, New York Life, Unum, among others — to boost sales in the employee benefits […]

    Major IMO Simplicity Financial Adds Heft with Two Acquisitions

    {September 21st, 2017} by Jay Cooper

    One of the nation’s largest independent marketing organizations has added distributional heft, with the acquisition of two smaller IMOs. Simplicity Financial Marketing announced last week it has acquired both WealthWise Partners and Liberty Financial Resources. “Simplicity Financial Marketing is growing rapidly and breaking new ground,” Simplicity’s CEO, Bill Malloy, said in a written statement. “We represent one of the top annuity, […]

    AXA, Allianz, MassMutual, MetLife Identified as Insurtech Leaders

    {September 21st, 2017} by Warren S. Hersch

    A new study highlights Allianz, AXA, MassMutual and MetLife as carriers on the cutting edge in the insurtech space. The World Insurance Report 2017, published by consulting, technology and outsourcing services provider Capgemini and Efma, a global non-profit organization for insurers and banks, reveals that insurtech firms are increasingly crucial to carriers’ digital innovation initiatives. Among other programs, the report highlights the carriers’ efforts […]

    Lincoln Aims to Ramp Up Sales of Hybrid Life, Annuity Products

    {September 21st, 2017} by Warren S. Hersch

    Lincoln Financial Group is intensifying efforts to boost sales of hybrid products enjoying growing market traction, including fixed-indexed-like variable annuities and life-long-term care insurance products, according to Lincoln President and CEO Dennis Glass. Interviewed during a question-and-and-answer session at Barclays’ 2017 Global Financial Services Conference, Glass touched on product plans for 2018 and beyond, the company’s performance on […]

    Life Insurance Is Key To ‘Financial Fitness,’ Danica Patrick Says

    {September 21st, 2017} by John Hilton

    In the boys club that is stock car racing, Danica Patrick sticks out like white pants in November. When it comes to promoting life insurance, however, she is right at home. Both of Patrick’s parents lost their fathers when they were teenagers. And neither family had life insurance. Patrick’s mom was one of five kids […]

    New Group Lobbies DOL on Fixed Indexed Annuities’ Treatment Under Fiduciary Rule

    {September 21st, 2017} by Melanie Waddell

    Annuity supporters are fighting to ensure that fixed indexed annuities get treated the same as other fixed annuities and not lumped in with securities products under the Department of Labor’s fiduciary rule. The newly formed group, the Fixed Annuity Consumer Choice Campaign, or FACC Campaign, is gathering signatures for a petition to be sent to Labor Secretary Alexander Acosta […]

    A special need for financial advice

    {September 21st, 2017} by Liz Skinner

    Advisers don’t have to be experts to help special needs families get a jump on lifelong planning ELLEN RICE’S FATHER DIED suddenly this year, and she was surprised to discover he’d left her $1.6 million in property and investments. He had envisioned the inheritance would be a great blessing for a daughter who has struggled financially […]

    Guardian Speaks Up for Whole Life in New Video Series

    {September 21st, 2017} by Allison Bell

    Guardian Life Insurance Company of America is using a new wave of YouTube videos to explain why it and its agents believe whole life insurance is worth the money. The New York-based company has recruited financial professionals and customers to talk about how owning whole life has protected and improved the customers’ financial well-being. The […]

    Northwestern Mutual Donates $100,000 to Texas Children’s Hospital

    {September 21st, 2017} by Northwestern Mutual

    MILWAUKEE, Sept. 14, 2017 /PRNewswire/ — Northwestern Mutual, a leading national financial security company, is committed to giving back to the communities it serves. The company, through its Foundation, is donating $100,000 to the Texas Children’s Cancer Center Family Emergency Fund for Hurricane Harvey relief. Texas Children’s Cancer Center Family Emergency Fund supports patients and their families that struggle with […]

    57% Of Americans Have Less Than $1,000 In Savings

    {September 21st, 2017} by GoBankingRates

    LOS ANGELES, Sept. 12, 2017 /PRNewswire/ — More than half of Americans have less than $1,000 in savings, a new survey found. In fact, 39 percent of survey respondents said they had no money set aside in savings at all. GOBankingRates For the second consecutive year, personal finance website GOBankingRates asked more than 8,000 Americans how much money they […]

    Lincoln’s FIA Rider Signals Bullish Outlook for FIAs

    {September 21st, 2017} by Cyril Tuohy

    The launch of a new income rider on three families of indexed annuities indicates that Lincoln Financial product managers remain confident in the future of fixed indexed annuities. That confidence comes on the heels of disappointing second-quarter sales. Lincoln’s i4LIFE Indexed Advantage rider is available on the company’s New Directions, OptiBlend, and OptiChoice FIAs. These […]

    Guggenheim’s CEO Is Said to Seek Control of Insurer in Shake-Up

    {September 21st, 2017} by John Gittelsohn

    Mark Walter, the billionaire chief executive of Guggenheim Partners, is in discussions to take control of one of the firm’s insurance units as the $290 billion company fractures, according to people with knowledge of the plans. Walter, 57, is taking steps to remove insurer Guggenheim Life and Annuity Co. and fold it into his Delaware Life Insurance Co., […]

    Symetra Joins the Fee-Based FIA Stampede

    {September 20th, 2017} by Cyril Tuohy

    Add another insurer to the ranks of companies releasing fee-based fixed indexed annuities: Symetra Life Insurance. The Bellevue, Wash.-based life insurer announced the launch of Symetra Advisory Edge and Symetra Advisory Income Edge, two fee-based fixed indexed annuities. Advisors who sell Symetra annuities now have the traditional commission-based Edge FIA products and the fee-based Advisory […]

    ACLI and NAIFA Fear New DOL Attacks on Commissions

    {September 20th, 2017} by Allison Bell

    Life insurance groups are wondering whether the U.S. Department of Labor will put off enforcing the current version of the fiduciary rule, then come back with new regulations that continue what the groups see as an attack on commission-based life insurance and annuity product distribution efforts. Click HERE to read the original story via ThinkAdvisor.  James Szostek and Howard […]

    National Life Group Unveils Custom Built Life Insurance Solution Focused on Accumulation

    {September 20th, 2017} by National Life Group

    MONTPELIER, VT (PRWEB) SEPTEMBER 18, 2017 National Life Group member companies National Life Insurance Company and Life Insurance Company of the Southwest introduce PeakLife Indexed Universal Life Insurance to meet the sophisticated planning needs in the mass affluent and emerging affluent markets. PeakLife helps individuals and business owners protect what matters most, while also helping address […]

    Financial Writer for an Annuity Blog

    {September 20th, 2017} by N/A

    Hourly Less than 30 hrs/week More than 6 months $$$ Expert Level Start Date: October 2, 2017 U.S. based only please. We need a Financial writer for an annuity blog. In depth knowledge of annuities is definitely a plus. Must be able to write excellent content. We will pay top dollar for the right person and if […]

    NEWS RELEASE: Fraudulent Disbursement of Funds from Annuity Contracts

    {September 20th, 2017} by Nebraska Department of Insurance

    The Nebraska Department of Insurance, Insurance Fraud Prevention Division (IFPD), has recently received additional information regarding fraudulent access to funds from annuity contracts. Following a July consumer alert that was issued by the Department of Insurance, the IFPD has learned that several of these attempts have been made on policies held by individuals across the country. […]

    Seeking Secure Retirement Income? An Annuity Could Be a Good Fit

    {September 20th, 2017} by CARL ZEIDLER, CFP, MSFS

    Locking down a solid retirement income plan in today’s volatile investment market can be challenging. Thanks to low interest rates, conservative investments such as certificates of deposit and money market accounts aren’t paying enough to even keep up with inflation. It’s tempting to take the risk and move money into this bull market, but if […]

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