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  • Analyst: SEC Poised to Take Regulatory Torch From Labor Department

    {January 17th, 2018} by Cyril Tuohy

    A Securities and Exchange Commission (SEC) best-interest fiduciary standard for all brokerage accounts is good news for investors, in the view of one Wall Street analyst. The SEC will likely issue its own fiduciary rule proposal in the next few months after the two newest SEC commissioners were sworn in last week, according to news […]

    NAFA Welcomes 2018 Board of Directors

    {January 17th, 2018} by NAFA

    New Leadership Poised to Continue Fight against Unnecessary Regulatory Overreach WASHINGTON (Jan. 16, 2018) — The general membership of NAFA, the National Association for Fixed Annuities, approved recommendations for its newly elected 2018 board of directors at the association’s annual meeting held recently in San Diego, Calif. Nominations were received from the membership at large, and […]

    Security Benefit Debuts RateTrack® Plus Annuity

    {January 16th, 2018} by Security Benefit Life Insurance Company

    TOPEKA, Kan., Jan. 16, 2018 — Security Benefit Life Insurance Company (SBL), a leader in the U.S. retirement savings market, today announced the launch of its RateTrack® Plus Annuity (RTP), a floating rate annuity that includes an income benefit and is designed to help clients participate in a rising interest rate environment.   RTP features a unique […]

    MassMutual Web Agency Doubles Life Coverage Limit

    {January 16th, 2018} by Allison Bell

    Are life insurers’ web-based accelerated underwriting programs working the way the insurers want? One possible clue: Haven Life, a web-based insurance agency affiliate of Massachusetts Mutual Life Insurance Company, is increasing the maximum amount of life insurance coverage available through the site. Click HERE to view the original article via ThinkAdvisor. The coverage maximum is […]

    Court decision on DOL fiduciary rule expected in February

    {January 16th, 2018} by Mark Schoeff Jr.

    A major court decision could be released on a lawsuit over the Labor Department’s fiduciary rule after the partying is over next month on the Bayou.   Click HERE to read the full story via InvestmentNews; registration required.

    SEC should define ‘advisor,’ says CFA Institute

    {January 16th, 2018} by Kenneth Corbin

    With the fiduciary rule in question, a prominent industry association is calling on the SEC to issue guidance on the use of the term “advisor” when offering advice to retail investors. The CFA Institute has drafted a letter asking the SEC to take steps–ahead of the full regulatory initiative it is contemplating–to clarify the way financial […]

    5 Important New Insurance Executive Changes

    {January 16th, 2018} by Allison Bell

    Symetra Life Insurance Company has named Harry Monti to be the senior vice president in charge of its group life and disability and selected benefits fixed-payment medical businesses. Monti succeeds Craig Raymond, who’s retiring. Monti previously was head of group life and disability operations at Symetra.  Before Monti began working for the Bellevue, Washington-based company, he […]

    Insurance Leaders, Not Just Industry, Must Evolve

    {January 16th, 2018} by Jennifer Overhulse

    The insurance industry has been aflutter lately talking about the staggering pace of change. To date, and to be realistic, that’s all most of the industry has done, talk about it. However, at the recent ITA LIVE conference held in Ft. Lauderdale, April 20-22, the pace of change took new shape. A heightened sense of […]

    Iowa Insurtech Startup School Offers $40,000 in Seed Money

    {January 16th, 2018} by Allison Bell

    Managers of the Global Insurance Accelerator program say that program provides $40,000 in seed money for each insurance technology startup accepted into the program, in exchange for 6% of the startup’s equity. The Des Moines, Iowa-based program will start a 100-day startup school session for the 2018 class of startups Tuesday.  Click HERE to read the original story […]

    Transamerica awards $2bn contract to TCS for insurance and annuities admin

    {January 16th, 2018} by Verdict Staff

    Transamerica has awarded a contract worth over $2bn to India-based Tata Consultancy Services (TCS) to transform the administration of Transamerica’s insurance and annuity business lines in the US. Transamerica is a leading provider of life insurance, retirement and investment solutions in the US. The collaboration will allow the insurer to speed up the improvement of […]

    Why this could be one of the best ways to invest in America’s future

    {January 16th, 2018} by ANGELA M. ANTONELLI

    Millennials, the generation born between the early 1980s and the mid-to-late 1990s, make up about one-third of today’s U.S. workforce. They are better educated than previous generations, with a greater proportion of them possessing a college degree. Because they have lived through the Great Recession, they are more risk averse. They are also more likely […]

    American National Insurance Company announces the merger of its two New York life insurance subsidiaries, American National Life Insurance Company of New York and Farm Family Life Insurance Company; the newly merged company will be known as American National Life Insurance Company of New York

    {January 16th, 2018} by American National Insurance Company

    GALVESTON, Texas, Jan. 10, 2018 (GLOBE NEWSWIRE) — American National Insurance Company announces that, effective January 1, 2018, American National Life Insurance Company of New York merged into Farm Family Life Insurance Company. Following the merger of these two subsidiaries, the surviving company has assumed the name American National Life Insurance Company of New York.  […]

    2017 U.S. Variable deferred annuities sold through Life insurance carriers – Product & Services Report – Business and Finance, Finance Industries

    {January 15th, 2018} by RADEK SEKURSKI

    The 2017 U.S. Variable deferred annuities sold through Life insurance carriers – Product & Services Report Report has been published. It provides updated in 2018 year analysis of industries from Business and Finance, Finance . The 2017 U.S. Variable deferred annuities sold through Life insurance carriers – Product & Services Report, contains timely and accurate […]

    Congressional Bill Increases Annuity Use In 401ks

    {January 14th, 2018} by John Sullian

    Recently-introduced legislation to increase so-called lifetime income options (annuities) in 401k and similar retirement plans specifically notes that “lowest cost products” are not a requirement as long as other selection criteria are met. Cost has long been a sticking point in the debate over what constitutes the “best” or most appropriate products to satisfy fiduciary responsibilities. […]

    Indiana Department of Insurance, NAIC Life Insurance Policy Locator Finds Over $600,000 Total Claims for Hoosiers in First Year

    {January 14th, 2018} by Staff

    Thousands of U.S. consumers have reaped the benefits of the Indiana Department of Insurance’s (IDOI) and the National Association of Insurance Commissioners’ (NAIC) Life Insurance Policy Locator during the locator’s first year. In Indiana, 144 beneficiaries have been matched with $609,591.72 total claims since its launch last November.  The consumer tool has matched 8,210 beneficiaries […]

    Tax reform: 7 essential strategies for financial advisers

    {January 13th, 2018} by Greg Iacurci

    There’s both good news and bad for financial advisers in the new tax law: While advisers face the difficult task of analyzing the law’s impact, they will also have a significant opportunity to prove their value by implementing money-saving strategies for clients as well as their own businesses. Tax experts say it could take months or […]

    New Indexing Strategy Positions Buffered VA for a Market Drop

    {January 13th, 2018} by Cyril Tuohy

    A new crediting method for buffered variable annuities is designed for a low-market-growth scenario with the possibility of a correction, a product expert with Allianz Life Insurance Co. of North America said. The crediting method, which Allianz branded Index Precision Strategy, guarantees a rate of 7.25 percent, whether the market index remains flat or stays […]

    Integrity Marketing Group Acquires Neishloss & Fleming

    {January 12th, 2018} by Allison Bell

    Integrity Marketing Group L.L.C. has acquired Neishloss & Fleming Inc. for a price that was not disclosed. Integrity Marketing is a privately held, Dallas-based distributor of life and health products aimed at older consumers. The company was founded in 2006. It now has relationships with 120,000 independent agents located throughout the United States. Neishloss & Fleming is a Pittsburgh-based […]

    LOMA Life Industry Forecast: Modest Gains in 2018

    {January 12th, 2018} by LOMA

    ATLANTA, Jan. 11, 2018 /PRNewswire/ — Life insurance industry executives predict modest growth in 2018, according to a recent survey by LOMA’s Resource magazine. The prolonged low-interest-rate environment, coupled with the high costs of replacing aging technology platforms and complying with new regulations, will continue to challenge profits. Survey participants also suggested new technology will […]

    Transamerica to Outsource Life, Voluntary Benefits and Annuity Administration

    {January 12th, 2018} by Allison Bell

    Transamerica has agreed to hire Tata Consultancy Services to administer its life insurance, supplemental health insurance, voluntary benefits and annuity businesses, Aegon N.V. announced today. Aegon, Transamerica’s Dutch parent, said Transamerica hopes to close on the deal by June 30. The deal could affect about 2,200 U.S. workers, Aegon said.  Click HERE to view the original story via […]

    New York Best Interest Proposal ‘Burdensome,’ Law Firm Finds

    {January 12th, 2018} by John Hilton

    The “best interest” standard proposed by New York State exposes insurance/annuity writers to liability risks that exceed the Department of Labor rule, a prominent law firm concluded. Announced early this month, the New York proposal imposes “burdensome compliance obligations” and “certain requirements that appear impractical,” the law firm Drinker Biddle & Reath concluded in its […]

    Vantis Life Goes Platinum with Whole Life Product

    {January 12th, 2018} by Cyril Tuohy

    Vantis Life boosted its single-premium whole life product’s death benefit by several thousand dollars and added a charitable giving rider. The new features have also meant going upscale in the branding, from EstateWise to EstateWise Platinum. The product is sold mainly through banks. EstateWise Platinum replaces EstateWise, launched in 2004. Click HERE to read the […]

    When Innovation Meets Regulation

    {January 12th, 2018} by Josephine Cicchetti and Christine A. Stoddard of Carlton Fields

    The rise of InsurTech — which brings technological innovations to the business of insurance — has recently had a significant impact on the insurance industry, including through advancements in cybersecurity tools, the introduction of blockchain, and the use of big data for underwriting and claims. Funding in this area has grown exponentially over the past […]

    Treasury Department Urges SEC To Act On Life Company Products

    {January 12th, 2018} by Gary O. Cohen

    The U.S. Department of the Treasury published an October 2017 report, “A Financial System That Creates Economic Opportunities — Asset Management and Insurance” in response to President Trump’s Executive Order 13772 on “Core Principles for Regulating the United States Financial System.” The report’s numerous recommendations include the following steps that the SEC could take to […]

    Life Reinsurer Is Going Out for Business

    {January 11th, 2018} by Allison Bell

    Reinsurance Group of America Inc. is expanding its ability to offer big reinsurance arrangements throughout the world. RGA, a life and health reinsurer based in Chesterfield, Missouri, has announced two major deals this week. The company’s RGAx insurtech arm has agreed to acquire LOGiQ3 Inc., a Toronto-based insurtech company. The company has also agreed to team up […]

    AIG Names Pair From Brunswick Group to Social Media, Communications Roles

    {January 11th, 2018} by David Pilla

    NEW YORK – American International Group Inc. has named two Brunswick Group executives as new senior members of its corporate communications team. Jim Wells is joining the company as global head of digital and social media, and Daniel O’Donnell is joining as head of corporate communications. Both report to Cindy Leggett-Flynn, AIG’s chief communications officer, […]

    With SEC Move Pending, New York Joins Other States Making Fiduciary Reforms

    {January 11th, 2018} by John Manganaro

    A team of attorneys with Drinker Biddle published a new client alert, highlighting what for some advisers will likely be a worrying trend of individual states taking regulatory action to address what consumer advocates consider to be unacceptable conflicts of interest existing in the investment and insurance brokerage industries. As laid out by the Drinker […]

    Technology is streamlining the process of issuing life insurance policies

    {January 11th, 2018} by Greg Iacurci

    Life insurance is undergoing a renaissance of sorts. The industry is slowly transforming from one entrenched in the old-age archaism of paper and manual processes to one embracing digital technology and artificial intelligence, which benefits consumers via a more enjoyable sales experience and better product pricing.  Click HERE to read the full story via InvestmentNews; […]

    James Quinn Named Chief Financial Officer at Amerilife

    {January 11th, 2018} by AmeriLife

    CLEARWATER, Fla., Jan. 10, 2018 /PRNewswire/ — AmeriLife has appointed James “Jim” Quinn as its Chief Financial Officer to oversee its accounting, finance, tax and acquisition functions. Prior to joining AmeriLife, Quinn served as Senior Vice President of Corporate Development for Marsh & McLennan Agency, the middle market platform of Marsh. While at MMA, he […]

    Northwestern Mutual Appoints Lori Brissette to Vice President of Insurance and Annuities Client Services

    {January 11th, 2018} by Northwestern Mutual

    MILWAUKEE, Jan. 10, 2018 /PRNewswire/ — Northwestern Mutual today announced the appointment of Lori Brissette to vice president of insurance and annuities client services. Effective January 2, 2018, Brissette assumed her title as vice president and executive officer and will help drive innovation as a leader on the insurance products and client services team. “Our service to clients and financial representatives […]

    5 Peeks at a Hot New Variable Annuity Guarantee Paper

    {January 10th, 2018} by Allison Bell

    Two researchers have posted a major new working paper on variable annuity contracts that come with minimum return guarantees. The researchers — Ralph S.J. Koijen, an economist who teaches at New York University’s Stern School of Business, and Motohiro Yogo, an economist at Princeton University — wrote the paper to fill what they see as a major gap in […]

    AIG Weighed $10 Billion Voya Financial Deal

    {January 10th, 2018} by Sonali Basak , Katherine Chiglinsky

    American International Group Inc. may be back in the market for large-scale deals. The insurer was in talks to buy Voya Financial Inc. in a transaction valued at more than $10 billion before negotiations fell apart in November over the price, according to people familiar with the matter. It’s unclear whether the discussions will be […]

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

    {January 10th, 2018} by Best's News Service

    Oldwick – A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of the domestic life/health insurance subsidiaries of Prudential Financial, Inc. (PFI) (Newark, NJ) [NYSE: PRU] referred to as Prudential. Concurrently, A.M. Best has affirmed the Long-Term ICR of “a-” of PFI […]

    Lincoln Appoints Senior Exec To Key Life Post

    {January 10th, 2018} by Cyril Tuohy

    Lincoln Financial, which has ambitious growth plans for its linked-benefit and term products, has hired corporate actuary Stafford Thompson Jr. as senior vice president, Life Product Management, in charge of the company’s individual life business. Thompson, a product development, pricing and reinsurance expert with 23 years of industry experience, will oversee Lincoln’s popular universal life […]

    MetLife launches U.S. startup accelerator

    {January 10th, 2018} by Danni Santana

    MetLife has announced the launch of a new U.S. startup accelerator to be hosted on its technology campus in Cary, North Carolina. The program, created in partnership with global entrepreneurial network Techstars, follows the life insurer’s earlier efforts to bring an accelerator to Singapore in November 2016. All startups developing “disruptive” technologies applicable to the insurance […]

    Misperceptions about the financial advice industry are stalling gender equality

    {January 10th, 2018} by AnnMarie Pino

    Women remain underrepresented in the financial advice industry, progress toward gender equality is moving at a snail’s pace and women in the industry still face substantial barriers to advancement. As a new report from InvestmentNews Research and State Street Global Advisors, “Women in advice: Inspiring the next generation of financial advisers,” points out, firms can take steps to address these […]

    Blackstone Makes Major Push for Life Insurers’ Assets

    {January 10th, 2018} by Allison Bell

    Blackstone Group L.P. has hired a New York Life Insurance Company veteran to help it attract money from yield-starved issuers of life insurance and annuity products. The New York-based company has named Chris Blunt to be a senior managing director and chief executive officer of Blackstone Insurance Solutions. Blackstone already manages about $385 billion in […]

    2018 Fixed Index Annuity Volatility Control Indices Overview Available

    {January 9th, 2018} by ADVANTAGE COMPENDIUM, LTD.

    MCKINNEY, TX – January 9, 2018 – From a couple dozen two years ago there are now over fifty volatility control indices being offered in today’s fixed index annuities (FIAs), according to a new digest from Advantage Compendium, Ltd. Notable vol-control index changes:  While only 27% of early FIA vol-controlled indices were excess return […]

    State Form Filer & Ad Review Analyst – Life & Annuity

    {January 9th, 2018} by Sammons Financial Group

    Date: Jan 10, 2018 Location: Chicago, IL, US, 60607 Company: Sammons Financial Group Draft, file and submit fixed and variable life products if supporting the Life Business or annuity products if supporting the Annuity Business, associated advertising and other annual reporting, such as life illustration or annual certifications, to State Insurance Departments to support product development and product […]

    AVP, Product Development – Life Pricing Implementation

    {January 9th, 2018} by Sammons Financial Group

    Date: Jan 14, 2018 Location: West Des Moines, IA, US, 50266 Company: Sammons Financial Group Position can be filled in Chicago, IL, Des Moines, IA, Fargo, ND or Sioux Falls, SD.   Sammons Financial Group is looking for an Assistant Vice President to lead the pricing and implementation function for the Life Division with the objective of achieving […]

    Regional Vice President, San Diego

    {January 9th, 2018} by Global Atlantic Financial Group

    COMPANY OVERVIEW Global Atlantic Financial Group, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help our customers address financial challenges with confidence. A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs. In addition, Global Atlantic offers custom […]

    Internal Wholesaler-IMO

    {January 9th, 2018} by Global Atlantic Financial Group

    COMPANY OVERVIEW Global Atlantic Financial Group Limited is a financial services company focused on the annuity, life insurance and reinsurance markets. Through its family of brands — including Forethought, Accordia Life and Commonwealth Re — Global Atlantic offers a broad range of retirement and protection products, as well as reinsurance solutions. Global Atlantic was founded […]

    VP, Planning and Analysis

    {January 9th, 2018} by Global Atlantic Financial Group

    COMPANY OVERVIEW Global Atlantic Financial Group, through its subsidiaries, offers a broad range of retirement, life and reinsurance products designed to help our customers address financial challenges with confidence. A variety of options help Americans customize a strategy to fulfill their protection, accumulation, income, wealth transfer and end-of-life needs. Global Atlantic was founded at Goldman […]

    Annuity Services Specialist

    {January 9th, 2018} by Sammons

    Date: Jan 11, 2018 Location: West Des Moines, IA, US, 50266 Company: Sammons Financial Group Come work for a company that believes in Making Lives Better not only for Policyholders and Distribution Partners but for Our Employees and Communities as well!  Sammons® Financial Group (SFG) is a holding company of several successful financial services member companies offering a variety […]

    NY Advisors Offered First Fixed Annuity with Lifetime Withdrawal Benefit

    {January 9th, 2018} by Cyril Tuohy

    Insurance agents and financial advisors with clients living in New York State thirsting for a fixed annuity with a guaranteed lifetime withdrawal benefit finally have one, courtesy of New York-based insurance giant AIG. Assured Edge Income Builder-NY is the first fixed annuity with a guaranteed lifetime withdrawal benefit (GLWB) offered in the Empire State, the […]

    What to Watch on the Fiduciary Front in 2018

    {January 9th, 2018} by Lisa Beilfuss

    The federal rule meant to protect retirement savers from conflicted advice was dealt a setback in 2017 as its full implementation was delayed. But consumers, state regulators and parts of the advisory industry have embraced its ideal of requiring retirement advice to be in investors’ best interest. The Obama-era regulation known as the fiduciary rule […]

    Retirees: What You Should Watch in 2018

    {January 9th, 2018} by Mark Miller

    Mark Miller: Remaking Retirement Retirees should keep the aging bull market, Social Security and Medicare, interest rates and more on their radar this year.   The economy is strong and the stock market is surging. Interest rates are rising a bit, but inflation looks steady. That should mean smooth sailing in 2018 for retirees and […]

    Why financial planners should support a strong fiduciary rule

    {January 9th, 2018} by Barbara Roper

    Financial planners who embrace a fiduciary standard have been staunch allies in defending the Department of Labor’s fiduciary rule and fighting to extend its strong protections to all investment accounts. In contrast, lobbyists for broker-dealers have fought for a standard that allows brokers to say they are subject to a best interest standard without actually […]

    Associate Manager, Marketing and Communications

    {January 9th, 2018} by Prudential

    Job description Quantitative Management Associates (QMA) is a wholly owned subsidiary of Prudential. Since 1975, QMA has pioneered the use of advanced analytics to enhance the investment decision-making process. We combine discipline and seasoned judgment to create investment solutions tailored to client objectives. QMA manages approximately US$125 billion in assets for institutions around the world. […]

    Marketing and Communications intern

    {January 9th, 2018} by Athene

    Job description We are Athene. At Athene, we are driven to do more. We are a leading retirement services company that issues, reinsures and acquires retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. We see every day as a new opportunity to measure ourselves against the […]

    Are more CFPs women? Depends on how you look at it

    {January 9th, 2018} by Kenneth Corbin

    The number of advisors with CFP certifications surged past 80,000 in 2017, including a record number of women. Yet this landmark failed to budge the overall percentage of women CFPs and illustrated the broader challenges of diversifying the field. A high-water mark of 1,250 women became CFPs last year, bringing the total number to 18,578, […]

    Morgan Stanley and adviser win lawsuit over annuity distribution

    {January 8th, 2018} by Greg Iacurci

    Morgan Stanley has prevailed in a lawsuit alleging the company and one of its advisers acted negligently when it told clients to take a particular type of annuity distribution, which cost the clients nearly $300,000 in tax liabilities. While the judge in the case, Berkenfeld et al v. Lenet et al, said the Morgan Stanley […]

    4 Ways New York May Make DOL Look Like a Fiduciary Kitten

    {January 8th, 2018} by Allison Bell

    If state insurance regulators wrestle control over annuity sales standards away from the U.S. Department of Labor, some states could end up making the DOL look like a gentle little kitten. Miami-based legal analysts at Carlton Fields Jorden Burt P.A., a law firm, raise that possibility in a look at new draft regulations released in […]

    InsurTech Startups Wanted for the MetLife Digital Accelerator powered by Techstars in North Carolina: Techstars Blog

    {January 8th, 2018} by Mee-Jung Jang

    Techstars and MetLife have signed a partnership agreement to run a mentorship-driven accelerator in Cary, North Carolina, to help InsurTech founders do more faster. The MetLife Digital Accelerator powered by Techstars, will run in Q3 2018 with applications opening on January 8th, 2018. I’m excited to announce that I will be the managing director of the […]

    EEOC Wins Battle Over Maryland Insurance Regulator Pay

    {January 8th, 2018} by Allison Bell

    A federal appeals court has put a pay discrimination suit against the Maryland Insurance Administration back in action. A three-judge panel at the 4th U.S. Circuit Court of Appeals has ruled, 2-1, that the U.S. Equal Opportunity Employment Commission (EEOC) can move forward with a lawsuit alleging that the insurance regulatory agency may have paid […]

    Blackstone Hires Former New York Life Investments Group President Chris Blunt to Lead New Blackstone Insurance Solutions Business

    {January 8th, 2018} by Blackstone

    New York, January 8, 2018 – Blackstone (NYSE:BX) today announced that Chris Blunt, former President of New York Life’s Investments Group, will join the firm as a Senior Managing Director and Chief Executive Officer of Blackstone Insurance Solutions – a newly formed business that delivers Blackstone’s investment management expertise and products to insurance companies, helping those […]

    National Western Life Names Andy Olson as Vice President and Head of General Agency Sales

    {January 8th, 2018} by National Western Life Insurance Company

    AUSTIN, Texas, Jan. 8, 2018 /PRNewswire/ — National Western Life Insurance Company (NWLIC) announced the recent addition of Andy Olson, CLU, ChFC, LUTCF to its distribution management ranks as Vice President and Head of General Agency Sales. “While we have a strong following in the National Marketing Organization (NMO) space, many of those distributors are […]

    Bill Would Clear Way for More Annuities in Retirement Plans

    {January 8th, 2018} by Melanie Waddell

    Lawmakers are floating two bills to provide retirees with access to annuities and to modernize how they receive retirement statements. Reps. Tim Walberg, R-Mich., and Lisa Blunt Rochester, D-Del., introduced Monday H.R. 4604, the Increasing Access to a Secure Retirement Act, while Reps. Phil Roe, R-Tenn. and Jared Polis, D-Colo., reintroduced H.R. 4610, the Receiving […]

    National Western Life Welcomes Financial Distribution Channel Leader Joe Black

    {January 8th, 2018} by National Western Life Insurance Company

    AUSTIN, Texas, Jan. 8, 2018 /PRNewswire/ — National Western Life Insurance Company (NWLIC) is pleased to announce that Joe Black, CRC, CMFC, has joined the Company as its first Vice President and Head of Bank, Broker/Dealer, and Wirehouse Sales. “This signals our commitment to expanding the Company’s presence in the institutional space,” stated R. Bruce Wallace, NWLIC’s Senior Vice President […]

    Third Annual Advisor Authority Study Profiles Generation X Investors – A Vital Target for RIAs and Fee-Based Advisors to Successfully Grow Their Practice

    {January 8th, 2018} by Jefferson National

    LOUISVILLE, Ky., Jan. 8, 2018 /PRNewswire/ — A new Special Report from the third annual Advisor Authority Study, commissioned by Jefferson National, operating as Nationwide’s advisory solutions business, and conducted online by The Harris Poll, profiles Generation X investors identifying key market opportunities for financial advisors. The latest findings help RIAs and fee-based advisors better understand Gen Xers’ unique priorities, […]

    A.M. Best Comments on Credit Ratings of American Enterprise Group’s Insurance Subsidiaries Following Acquisition Announcement

    {January 5th, 2018} by Best's News Service

    Oldwick – A.M. Best has commented that the Credit Ratings (ratings) of the insurance subsidiaries of American Enterprise Group, Inc. (American Enterprise), which include: American Republic Insurance Company, American Republic Corp Insurance Company, Medico Corp Life Insurance Company, Medico Insurance Company and Medico Life and Health Insurance Company (all of which are domiciled in Des […]

    American Republic Agrees to Acquire Funeral Insurer

    {January 5th, 2018} by Allison Bell

    American Republic Insurance Company has agreed to acquire Great Western Insurance Company. American Republic is a Des Moines, Iowa-based unit of American Enterprise Group Inc. American Enterprise Group is, in turn, an arm of American Enterprise Mutual Holding Company. The corporate family includes Medico Insurance Company as well as American Republic. American Enterprise insurers sell life insurance, […]

    Regulatory Wrangling: The Year Ahead

    {January 4th, 2018} by Melanie Waddell

    For advisors and broker-dealers, one certainty remains constant from year to year: the challenge of keeping pace with a growing compliance checklist. While the Department of Labor’s fiduciary rule will continue to consume advisors’ time in the New Year despite the recent 18-month delay of the rule’s enforcement provisions, other high-priority items for advisors — […]

    Edward Jones, Seeking Seasoned FAs, Gets a Recruiting Makeover

    {January 4th, 2018} by Jane Wollman Rusoff

    If it is eyebrow-raising that in 2017 national broker-dealer Edward Jones became the firm with the most financial advisors industrywide, consider their aggressive, revamped recruiting strategy: Best known for hiring inexperienced folks as trainees, Jones is now focused on recruiting established advisors from competing firms — including wirehouses Merrill Lynch, Morgan Stanley and Wells Fargo. In […]

    2018 Life, Health and Annuity Planner

    {January 4th, 2018} by Allison Bell

    The new year has begun, and many of your colleagues, clients and prospects already feel as if they need a vacation. The last few weeks of 2017 were so busy and so full of drama in Washington, that many people involved in insurance and employee benefits ended up working at full speed throughout December. But you still have to […]

    Pacific Life Turns 150

    {January 4th, 2018} by Allison Bell

    Pacific Life Insurance Company is now 150 years old. The Newport Beach, California-based life and annuity issuer was founded on Jan. 2, 1868, in Sacramento, California. The company issued its first life insurance policy to its first president, Leland Stanford. Click HERE to read the original story via ThinkAdvisor. In addition to serving as a founder of […]

    Delaware Gives China Oceanwide-Genworth Update

    {January 4th, 2018} by Allison Bell

    LTCI Policyholders May Get Broader Guaranty Association Protection Officials at the Delaware Department of Insurance say they’re still reviewing efforts by China Oceanwide Holdings Group Co. Ltd. to acquire Genworth Financial Inc. Genworth has been a major provider of life insurance, annuities and stand-alone long-term care insurance (LTCI). Although the parent company is based in Richmond, Virginia, it needs approval for […]

    Anecdotal Evidence: Voya, Northwestern Mutual and Fake DOL Comments

    {January 4th, 2018} by Kerry Pecther

    Welcome to 2018, which so far is on track to be just as strange as 2017. What will the infant year bring for the retirement income industry? What do the oracles say? Which of the millions of random news-dots seem connected? Click HERE to read the full story via RIJ; subscription required. 

    Insurance industry makes strides in gender diversity – report

    {January 4th, 2018} by Ryan Smith

    There’s been significant improvement in gender inclusion in senior leadership positions within the insurance industry, according to a new study. The study, conducted by Saint Joseph’s University, builds on four years of work by Mike Angelina, executive director of the Maguire Academy of Insurance and Risk Management. “The purpose of the updated study is to […]

    5 Questions to Boost Your 2018 Life Insurance Sales

    {January 4th, 2018} by Kenneth A. Shapiro

    We’re all familiar with the formula for success in a new year. We’ve heard the same words every year. They go something like this: Make more calls, talk to more prospects, prepare better proposals, and work harder than ever. While every advisor can benefit from such advice, it may not be enough. Even though advisors may know […]

    Annuities Explained (In Plain English)

    {January 4th, 2018} by Bob MacDonald

    It may not seem this way, but fixed annuities are actually simple and easy to understand. And they can play an important role in an individual’s financial planning, especially when it comes to retirement. What makes fixed annuities appear complicated and confusing is that insurance companies have mucked them up by adding all types of […]

    Allianz agrees to settle 401(k) fee lawsuit for $12 million

    {January 3rd, 2018} by Greg Iacurci

    Allianz has agreed to pay $12 million to settle a lawsuit alleging it peppered its company 401(k) plan with dozens of high-cost, in-house funds. Click HERE to read the full story via InvestmentNews; registration required.

    Why clients hate their financial advisors

    {January 3rd, 2018} by Allan Boomer

    In general, financial planners do not have the best reputation. I should know — I’ve been working in the industry for the past 20 years. I have been to cocktail parties where people walk away the moment they hear that I’m a financial advisor. But why? And what should we do about it? About three […]

    New York Floats Best Interest Standards For Insurers

    {January 3rd, 2018} by Tracey Longo

    New York is the latest state to plant its flag in the swirling sands of “best interest” standards in an effort to advance rules governing the sale of annuities and life insurance in the state. The reaction from those it will impact has been swift, and critics are zeroing in on what the rule doesn’t […]

    Voya Financial Plans Sale Of Annuities Businesses

    {January 3rd, 2018} by Jadah Riley

    Voya Financial Inc. has announced plans to divest from its Closed Block Variable Annuity (CBVA) division and its entire individual fixed and fixed indexed annuity businesses. Voya’s planned divestiture follows similar moves by large life insurers, including MetLife and the Hartford. These firms all concluded that the costs and risks associated with providing certain guarantees […]

    What 2018 Could Bring To the Life/Annuity Industry

    {January 2nd, 2018} by Cyril Tuohy

    As 2017 gives way to 2018, forecasters and pundits released their crystal balls and offered glimpses of what life and annuity advisors can expect when it comes to product development, distribution, and insurance company performance. Consulting firms Deloitte, McKinsey and Boston Consulting Group (BCG) focused more on the digital distribution aspect of the industry. Rating agencies, […]

    Top 10 Financial Terms of 2017: Investopedia

    {January 2nd, 2018} by Michael S. Fischer

    Investopedia, an online provider of financial content, has announced its list of the top financial terms of 2017. The list reflects investor interest, key trends and news events during the year as measured by search volume and percentage gains. Click HERE to read the original story via ThinkAdvisor. “Investors clearly have disruptive technology on the […]

    The biggest losers and winners of 2017

    {January 2nd, 2018} by Joe Duran

    Politics and the presidency have seldom played a more dominant role in our popular culture as they did last year. Despite the wall to wall coverage of the White House, 2017 turned out to be a far calmer and less disruptive year in the financial markets and the wealth management industry than many anticipated. In […]

    Fiduciary Rule May Take on SEC Influence

    {January 2nd, 2018} by John Hilton

    While the Department of Labor delayed final implementation of its fiduciary rule until July 2019, that doesn’t mean 2018 will be quiet on the fiduciary front. In fact, it could be a big year for sorting out the future standard that agents and advisors will abide by when selling products into retirement accounts, said Michael […]

    Top 5 Stories of 2017: DOL Rule

    {January 2nd, 2018} by John Hilton

    Nearly all of InsuranceNewsNet’s most-read stories were about the Department of Labor fiduciary rule as the election of President Donald J. Trump gave rise to hopes for a repeal. The campaign to derail the rule did not go smoothly, as nothing seemed to for the novice administration officials. Problems getting a labor secretary confirmed delayed […]

    Regs, Comp and Trust Issues Push Reps to Consider Independence

    {January 2nd, 2018} by Cyril Tuohy

    Brokers and registered representatives point to more regulation, changing compensation and the erosion of public trust as reasons to go independent, according to a new survey. In addition, nearly half – 46 percent – of brokers and registered representatives expect the brokerage industry to deteriorate, the TD Ameritrade Institutional survey found. The findings were published […]

    2017 in Advisor Scams and Rip Offs

    {January 2nd, 2018} by Cyril Tuohy

    Even in a year with vanilla index funds generating returns of near 20 percent, bad-apple advisors and brokers saw the need to be greedy. We list some of the more egregious complaints filed by U.S. authorities in 2017 among the hundreds of complaints filed by federal and state enforcement officials. Billion-Dollar Bold Even by the […]

    Rep fired by NY Life barred from industry for failing to show up at Finra hearing

    {January 2nd, 2018} by InvestmentNews

    The Financial Industry Regulatory Authority Inc. has barred former NY Life Securities representative Tyrone Pang for failing to appear at a hearing investigating alleged rule violations. Click HERE to read the full story via InvestmentNews; registration required. 

    Roth IRAs hit 20 years old on New Year’s Day

    {January 2nd, 2018} by Ryan W. Neal

    The first day of 2018 will have special meaning for some retirement planners — the 20th anniversary of the Roth IRA. The plans, which allow individuals to contribute after-tax money into an account that they can withdraw from tax-free in retirement, were first proposed by Sen. Bob Packwood of Oregon and Sen. William Roth of […]

    Annuity Sales Dip, Again

    {January 2nd, 2018} by Ben Mattlin

    In early December, the Insured Retirement Institute (IRI) announced the third-quarter results for U.S. annuities sales, and they were sorely disappointing. View Wink’s 3rd Quarter, 2017’s annuity sales results, click HERE.  Based on data from Beacon Research, an annuities data tracker in Northfield, Ill., and the investment researcher Morningstar, Washington, D.C.-based IRI concluded that overall […]

    7 New Peeks Inside Life Insurers’ Underwriting Machinery

    {December 29th, 2017} by Allison Bell

    A team at the Society of Actuaries has posted a major report on how new life insurance policies really are made. Members of the Improving the New Business Process Survey Subcommittee, part of the SOA’s Committee on Insurance Mortality & Underwriting Surveys, persuaded 19 U.S. life insurers and five Canadian life insurers to tell the subcommittee how […]

    All Eyes on Uniform Fiduciary Rule, but Skeptics Abound

    {December 29th, 2017} by Melanie Waddell

    A fiduciary rule proposal by the Securities and Exchange Commission along with planned changes to the Labor Department’s fiduciary rule top the list of attention-getters for advisors and brokers in the new year, but other moves like a new cryptocurrency rule by the SEC and tougher cybersecurity exams (and enforcement actions) may also be on […]

    Fake comments hit regulators seeking input on proposed rules

    {December 29th, 2017} by Ryan W. Neal

    Several public comments collected by the Department of Labor that criticize the proposed fiduciary rule are fake, according to an analysis by the Wall Street Journal and Mercury Analytics. Of more than 3,000 comments, WSJ surveyed 345 people, most of whom were critical of the fiduciary rule. Fifty people responded, and 20 of them said they did […]

    Why Baby Boomers should still consider life insurance

    {December 29th, 2017} by Courtney Keating

    When you think of life insurance you probably think these policies are for young families, planning for the future of their loved ones to help them cope with debt and the everyday cost of living in the event of the worst happening unexpectedly.  However, Baby Boomers, depending on their financial situation, might still want to […]

    New York proposes ‘best interest’ rules amid DOL fiduciary rule delay

    {December 29th, 2017} by Katherine Chiglinsky

    (Bloomberg) — New York State’s top financial watchdog proposed regulations that would require sellers of life insurance and annuities to act in the best interest of clients, raising standards even as the U.S. government delays its fiduciary rule. Products that best fit clients would have to be offered before those that are most profitable to the sellers, […]

    New York proposes best interest standard to apply to annuity and life insurance sales

    {December 29th, 2017} by Greensfelder Hemker & Gale PC

    New York Department of Financial Services Superintendent Maria Vullo released a proposed revision to New York’s annuity suitability rule that would apply a best interest standard to all annuity and life insurance recommendations in New York. A recommendation is in the best interest of a consumer if it is in furtherance of the consumer’s needs and objectives […]

    Northwestern Mutual Launches New Brand Campaign “Spend Your Life Living”

    {December 29th, 2017} by Northwestern Mutual

    MILWAUKEE, Dec. 28, 2017 /PRNewswire/ — Northwestern Mutual, a leading financial security company, announced today the launch of a new brand campaign called “Spend Your Life Living.” Many people are stressed about their finances and saving for their future retirements, making it challenging to make the most of life’s moments now without feeling guilty. The campaign’s goal is […]

    Insurance Industry Research Reveals More Women in Leadership Roles

    {December 29th, 2017} by Saint Joseph's University

    Newswise — PHILADELPHIA (December 26, 2017) – New insurance industry demographic research from Saint Joseph’s University in Philadelphia reveals significant improvement in gender inclusion in senior leadership positions. The study builds on four years of work by Mike Angelina, executive director of the Maguire Academy of Insurance and Risk Management. “The purpose of the updated […]

    Indiana Department of Insurance, NAIC Life Insurance Policy Locator Finds Over $600,000 Total Claims

    {December 29th, 2017} by STL News

    Indianapolis, IN/December 24, 2017 (STL.News) – Thousands of U.S. consumers have reaped the benefits of the Indiana Department of Insurance’s (IDOI) and the National Association of Insurance Commissioners’ (NAIC) Life Insurance Policy Locator during the locator’s first year. In Indiana, 144 beneficiaries have been matched with $609,591.72 total claims since its launch last November. The […]

    New York State May Set Its Own Best Interest Standard

    {December 27th, 2017} by Allison Bell

    New York state regulators today proposed adding a best interest standard to the state’s annuity sales standards regulations. The state may also apply the annuity sales rules to sales of life insurance. Click HERE to read the orginal story via ThinkAdvisor. The New York State Department of Financial Services has included those provisions in a new set of […]

    Advisers fear private equity’s reach into VAs

    {December 27th, 2017} by Greg Iacurci

    Editor’s note: This story has been updated with information about the sale of Voya Financial’s annuity business.   Financial advisers have expressed alarm over recent reports of insurers looking to offload large blocks of variable annuities to private investors. Voya Financial Inc. announced Thursday it is selling tens of billions of dollars’ worth of variable […]

    Top 5 Stories of 2017: Annuities

    {December 27th, 2017} by John Hilton

    It was a very busy year in financial services. The InsuranceNewsNet website visits grew by 72 percent to 5 million as they brought comprehensive coverage of the industry. This week, they feature their top five most popular 2017 stories in life insurance, annuities, finance, politics, health insurance and the Department of Labor fiduciary rule. Click HERE […]

    Top 5 Stories of 2017: Life Insurance

    {December 27th, 2017} by John Hilton

    The year in life insurance was one of transition and the perpetual search for strategies to extend coverage to families that might not realize how much they need the product. Our top five stories reflected that industry anxiety. The list is divided into two stories on company reshuffles, and three survey stories on who is […]

    Fee-Based Annuities Bright Spot In Disappointing 2017

    {December 27th, 2017} by Cyril Tuohy

    If 2017 is shaping up to be a letdown for annuity sales, it wasn’t for lack of trying as insurers launched new products and tinkered with product features to burnish annuities for distributors battling a tough regulatory environment. Several trends dominated the annuity industry this year as the products struggled mightily against the Department of […]

    FIA Marketing Tide Shifts to Accumulation

    {December 27th, 2017} by Cyril Tuohy

    In the fixed indexed annuity market, the marketing decibels around the accumulation story are ringing, even if it’s the week before Christmas. “Independent agents continued to shift their emphasis from guaranteed income to accumulation products focused on upside potential,” said John Matovina, CEO of American Equity Investment Life, one of the nation’s largest sellers of […]

    IUL the Life Insurance Star of 2017 Sales

    {December 27th, 2017} by Cyril Tuohy

    The indexed universal life (IUL) insurance line was the star of the life insurance show in 2017, thrust into the spotlight by a supporting cast of new products and features. Click HERE to read the full story via INN; subscription required.    The introduction of performance multipliers and bonuses helped rev up IUL sales, said […]

    Athene Holding Ltd. Enters into Reinsurance Agreement with Voya Financial

    {December 27th, 2017} by Athene Holding Ltd.

    PEMBROKE, Bermuda–(BUSINESS WIRE)–Athene Holding Ltd. (“Athene”) (NYSE: ATH) today announced it has entered into an agreement with Voya Financial (“Voya”) (NYSE: VOYA) to reinsure approximately $19 billion of fixed and fixed indexed annuity liabilities. “We are excited to enter into this agreement with Voya, which is highly strategic for Athene and a compelling example of […]

    Colorado to Get New Insurance Commissioner

    {December 27th, 2017} by Allison Bell

    Marguerite Salazar is giving up the Colorado insurance commissioner title. Salazar, who has been serving both as commissioner and as executive director of the state’s Department of Regulatory Agencies (DORA) since July, will focus on running DORA, according to officials at the Colorado Division of Insurance. Gov. John Hickenlooper, a Democrat, appointed Salazar to the commissioner […]

    Symetra to Update Retirement Distribution Strategy

    {December 27th, 2017} by Allison Bell

    Symetra Life Insurance Company says it wants to “expand its retirement distribution channels’ beyond its current bank, independent broker-dealer and wirehouse relationships. The Bellevue, Washington-based company has named Rich LaVoice to be executive vice president for retirement distribution strategy. Click HERE to read the original story via ThinkAdvisor. The company, which is a unit of Sumitomo […]

    WSJ Finds Fake Comments to DOL Criticizing Fiduciary Rule

    {December 27th, 2017} by Bernice Napach

    When the Labor Department officially delayed full implementation of its fiduciary rule until July 1, 2019, it said the extension would give the department more time “to consider public comments.” Now it turns out that many of those public comments were probably fake, according to an analysis by The Wall Street Journal. The newspaper hired […]

    New York State proposes ‘best interest’ standard for life insurance and annuities

    {December 27th, 2017} by Bloomberg News

    New York State’s top financial watchdog proposed regulations that would require sellers of life insurance and annuities to act in the best interest of clients, raising standards even as the U.S. government delays its fiduciary rule. Click HERE to read the full story via InvestmentNews; registration required. 

    Dear Advisors: Financial Plans are Not Retirement Plans

    {December 27th, 2017} by Brian O'Connell

    A growing number of financial advisors are pointing out an awkward reality on the investment planning market. Too many of those plans are really tricked-up retirement plans, and the distinction between the two is important. “Millions of Americans are walking around with financial plans disguised as retirement plans,” said Peter J. D’Arruda, president of the […]

    Athene Seen As Big Winner In Voya Transaction

    {December 27th, 2017} by Cyril Tuohy

    Athene, a top writer of indexed annuities, will emerge a big winner following Voya Financial’s decision to separate itself from its closed block of variable annuities and its portfolio of individual fixed and fixed indexed annuities, market analysts said. Under the deal, which is expected to close in the first half of 2018, Voya will […]

    Voya Financial to Sell Closed Block Variable Annuity and Fixed and Fixed Indexed Annuities Businesses

    {December 27th, 2017} by Voya

    NEW YORK–(BUSINESS WIRE)–Voya Financial, Inc. (NYSE:VOYA), announced today that it will divest substantially all of its Closed Block Variable Annuity (CBVA) segment and its individual fixed and fixed indexed annuity business through an agreement with a consortium of investors led by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO), […]

    Voya Financial to Exit Individual Annuities Business

    {December 27th, 2017} by Allison Prang

    Voya Financial Inc. VOYA -0.92% is selling parts of its annuities businesses to a group of investors led by Apollo Global Management LLC and its affiliates, Crestview Partners and Reverence Capital Partners, the company said Thursday. Voya said the deal—which is a sale of its individual fixed and fixed-indexed annuity business and almost all of its closed block variable-annuity […]

    Security Benefit’s Financial Strength Rating Upgraded to A-

    {December 27th, 2017} by Security Benefit Life Insurance Company

    TOPEKA, Kan., Dec. 20, 2017 (GLOBE NEWSWIRE) — Security Benefit, a leader in the U.S. retirement savings market, today announced that A.M. Best has upgraded its Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Ratings to “a-” from “bbb+” for the firm’s insurance entities, Security Benefit Life Insurance Company […]

    Here’s Why Voya Financial Is Soaring Today

    {December 27th, 2017} by Matthew Frankel

    On Thursday, Voya Financial (NYSE:VOYA) announced its plans to sell virtually all of its Closed Block Variable Annuity (CBVA) business as well as its individual fixed and fixed indexed annuity business. The stock climbed higher on the day after the announcement, and was up by approximately 11% as of 3:20 p.m. EST. So what There are a couple […]

    Happy New Year!

    {December 27th, 2017} by Jamie Johnson

    We will be closed January 1st, 2018 in observance of the holiday.  Our weekly newsletter will resume to Wednesdays beginning on January 3rd, 2018. We are very excited for the new year and our upcoming enhancements. First, we are launching our variable annuity enhancement to Wink’s AnnuitySpecs analysis tool. Contact us for details and stay […]


    {December 27th, 2017} by Ivanka Thompson

    Kansas City Life Insurance Co (NASDAQ:KCLI) announced its quarterly earnings results on Thursday. The financial services provider reported $0.53 earnings per share (EPS) for the quarter. The firm had revenue of $111.24 million for the quarter. Shares of Kansas City Life Insurance (NASDAQ:KCLI) traded down 0.29% during trading on Monday, reaching $45.37. 576 shares of […]

    Life insurance locator helps Coloradans find $1.3 million

    {December 27th, 2017} by Monica Mendoza

    The National Association of Insurance Commissioners has helped Coloradans find $1.3 million in life insurance benefits owed to them. The NAIC created an online search tool, Life Insurance Policy Locator, last November to help people find life insurance and annuities contracts in their names. Colorado’s Division of Insurance said that 757 Coloradans used the search tool and […]

    A Simple Idea for Increasing Annuity Sales

    {December 26th, 2017} by Kerry Pecther

    If you’re a financial advisor struggling to describe the value of a lifetime income product to retirees, you might first try explaining how hard it is for anyone to arrive at an optimal spending rate in retirement so that they don’t run out of money before they die or die before enjoying enough of their […]

    Alexa, can you be my financial planner?

    {December 26th, 2017} by Charlotte Beyer

    Alexa, can you be my financial planner? I asked that question of my new device, a birthday present from my son. The answer? “I don’t know that.” But for how long? Just as other industries have been disrupted by technological advancement, so, too, will the financial industry. Unless planners take advantage of innovation and the […]

    Insurance – Annuities – Commissions

    {December 26th, 2017} by Tom Egan

    Where three plaintiffs have brought a putative class action against 10 insurance companies and subsidiaries alleging that certain commissions charged in connection with annuity payments are unlawful, a civil RICO count must be dismissed without prejudice, as the plaintiffs fail to plead adequately that the defendants and non-party brokers associated together for a common illegal […]

    Fiduciary rule should be decided by Congress: Opinion

    {December 26th, 2017} by Mark Elzweig

    After lobbying hard for the fiduciary rule, consumer advocates clearly do not want to be blamed for the adverse consequences that are now becoming crystal clear. Maybe commissions aren’t so evil after all? All along, industry participants predicted that the rule would accelerate the disenfranchisement of smaller investors and restrict investor choice, and now that’s […]

    Voya to Exit Most of Its Annuity Business

    {December 26th, 2017} by Melanie Waddell

    Voya Financial said Thursday that it plans to divest “substantially” all of its Closed Block Variable Annuity (CBVA) segment and its individual fixed and fixed indexed annuity business so that it can focus on “higher-growth, higher-return, capital-light” retirement, investment management and employee benefits businesses. Voya will divest its annuity business through an agreement with a […]

    Here Are FINRA’s Plans for 2018

    {December 26th, 2017} by Melanie Waddell

    The Financial Industry Regulatory Authority will usher in some firsts in the new year, including sharing its 2018 budget and updated Financial Guiding Principles, as well as a bunch of new rule proposals. FINRA’s board approved the self-regulator’s budget at its meeting in December and said the SRO will publish both its budget and guiding principles in […]

    MDRT Announces New Membership Requirements

    {December 26th, 2017} by MDRT

    PARK RIDGE, Ill. —The Million Dollar Round Table (MDRT) announces updates to its U.S. membership qualifications for 2019. The revised requirement removes product-specific minimums allowing members to further serve their client’s best interest and meet industry regulations enacted by the Department of Labor. Current requirements stipulate a minimum 50 percent of qualifying production come from […]

    DOL rule slowed, not stopped, variable annuity sales

    {December 26th, 2017} by Marlene Y. Satter

    Sales of variable annuities slowed in 2016, as development of new products had to take into account the requirements of the Department of Labor’s fiduciary rule. But that doesn’t mean everything came to a grinding halt—indeed, quite the contrary. New research from Cerulli finds that sales of fee-based VAs and fixed-indexed annuities bucked that trend last year, the only kind […]

    Lincoln Expands Annuity Wholesalers by 15 Percent in 2018

    {December 26th, 2017} by Cyril Tuohy

    Lincoln Financial plans to increase its 240-strong annuity wholesaler force by about 15 percent in 2018 as the company prepares to enter the growing buffered variable annuity market, the company’s top executive said. Most of the wholesaler increase “is going to be supporting product expansion in the bank channel,” through which Lincoln already distributes products, […]

    How Trump’s Tax Act Could Affect Annuity Issuers

    {December 26th, 2017} by Allison Bell

    President Donald Trump signed the new Tax Cuts and Jobs Act into existence on Friday and put the legislative analysts of the world on notice: They now have to find out exactly what’s in the TCJA. The Republican effort to draft, debate and amend the package was so complicated, and so full of suspense, that […]

    Life Insurance Execs See Tax Reform As Good For The Industry

    {December 19th, 2017} by Cyril Tuohy

    Lower corporate tax rates in the $1.5 trillion tax reform package are expected to help the life insurance industry in at least two ways, industry executives say. One way is that group life insurance sales will see a boost as Americans join payrolls in an expanding economy. The other way is that those lower corporate […]

    We wish you a Merry Christmas!

    {December 19th, 2017} by Wink's RockStars

    May the spirit of Christmas bring you peace, hope, and joy. We sincerely thank you for partnering with Wink and look forward to serving you in 2018.    Merry Christmas from our family to yours!  Wink, Inc. and Sheryl J. Moore. The Wink office will be closed on December 25th and December 26th to celebrate […]

    5 Big Questions About Annuities for 2018

    {December 19th, 2017} by Allison Bell

    Making predictions about how 2018 might look for annuities could be even trickier than predicting how the year might look for life insurance. Every trend that puts shadows and mist over the life insurance market puts the same shadows and mist over the annuity market. Annuity issuers, meanwhile, face two additional opposing forces of hostility. Click HERE to read […]

    Tax plan: Everything financial advisers need to know about the final bill

    {December 19th, 2017} by Greg Iacurci

    After days of negotiations, Republican leaders aim to present a final tax bill to Congress for a vote this week, in hopes of getting it to the president’s desk for signature by Christmas. The bill — the Tax Cuts and Jobs Act — reconciles some of the substantial differences in the Senate and House legislation, and contains some important […]

    Symetra Realigns Retirement Sales and Distribution

    {December 19th, 2017} by Symetra

    BELLEVUE, Wash.–(Business Wire)–To better meet the needs of a dynamic retirement marketplace, Symetra Life Insurance Company today announced changes to its retirement sales and distribution organization. Rich LaVoice has been named executive vice president, Retirement Distribution Strategy. Wes Severin has been promoted to senior vice president, Retirement Distribution. Andrew Farrell will take on an expanded role as vice president, national sales […]

    Icons & Innovators

    {December 19th, 2017} by Inves

    InvestmentNews recognizes the icons and innovators who have shaped and transformed the financial advice profession. Meet these 20 visionaries – two icons and 18 innovators – through their profiles and videos, and get inspired by their compelling personal stories and indelible contributions. Click HERE to view the full story; registration required. 

    One in Three Americans Believe Another Major Recession Could Happen in the New Year, but Many Remain Optimistic about Making Money

    {December 19th, 2017} by Allianz

    MINNEAPOLIS–(BUSINESS WIRE)–Looking ahead to the new year, more than a third of Americans (36%) believe another major recession may be in the cards for 2018, according to the 9th annual New Year’s Resolution Survey* from Allianz Life Insurance Company of North America (Allianz Life®). With this outlook in mind, Americans plan to focus more on their […]

    LIMRA Study: Most Annuity Premium Used For Generating Income

    {December 19th, 2017} by LIMRA

    WINDSOR, Conn., Dec. 14, 2017—New analysis by LIMRA Secure Retirement Institute finds that half of the money ($84.5 billion) invested in annuities in 2016 was used to purchase products that offer guaranteed income – either immediately or for the future. “Despite all of the news questioning whether Americans understand annuities, our analysis demonstrates that Americans […]

    9 Details That Could Be Signs of Life Insurance Fraud

    {December 19th, 2017} by Bob Gooderl

    For many, the holiday season marks a time for unwinding, spending time with family and perhaps being a little more generous than usual. In our industry, it also means higher-than-normal volumes of applications, claims and transactions that need to be handled by year end. These personal and professional distractions can make it easier for fraud attempts to slip through […]

    Investor’s column: Pros, cons for fixed indexed annuities

    {December 18th, 2017} by Jim Germer

    The stock market is setting records nearly every day as it approaches 25,000. Now may be the time to consider fixed indexed annuities as an investment because the current bull market, with its high and seemingly illogical asset valuations, is likely unsustainable. Let’s explore why fixed indexed annuities may be a smart investment. “Fixed indexed […]

    To Live Better Longer, you may soon find yourself investing in a tontine

    {December 18th, 2017} by William Borton

    Numerous factors have helped increase human longevity. Many of us will live to be 90, and some perhaps even 100 or more. Unfortunately, in our younger years, many of my fellow Baby Boomers were not particularly focused on the possibility of living 35 years past retirement. Followers of my writings know my mission is to […]

    5 Key Life and Health Sections in Final Tax Bill

    {December 16th, 2017} by Allison Bell

    The new, combined version of H.R. 1, the Tax Cuts and Jobs Act bill, could cost life insurers about $22 billion over the period from 2018 through 2027. Rep. Kevin Brady, R-Texas, originally proposed a version of the tax bill that would raise about $22 billion, by combining a $7 billion change in the tax rules for life insurers’ deferred […]

    MetLife CEO: Lighter Regulations, Tax Reform Brightens 2018 Outlook

    {December 15th, 2017} by Frank Klimko

    NEW YORK – The prospect of a reduced regulatory burden coupled with a potential deep reduction in the corporate tax rate could lessen financial headwinds for MetLife Inc. in 2018, said Steven A. Kandarian, company chairman, president and chief executive officer. “From what we are seeing in Washington, on tax reform, there should be a […]

    Critics say regulation hasn’t curbed overly rosy projections for indexed universal life insurance

    {December 15th, 2017} by Greg Iacurci

    A regulation governing indexed universal life insurance policies has had a fairly limited effect, leading some observers to question whether the regulation went far enough and if more stringent rules are necessary. Click HERE to read the full story via InvestmentNews; registration required.  “Illustrations are what sell cash-value life insurance,” said Sheryl Moore, CEO of Moore […]

    Complexity of new indexed annuities causing concern

    {December 15th, 2017} by Greg Iacurci

    The way indexed annuities have evolved has led to concern from some corners of the insurance market, with some critics saying insurers have developed increasingly complex products in hopes of standing out in a competitive market. Click HERE to read the full story via InvestmentNews; registration required.    While there were only six hybrid indices […]

    Tontines: A New Threat to Annuities?

    {December 14th, 2017} by Kerry Pechter

    Insurance companies “don’t like the ‘t’ word,” one investment strategist told me. He meant tontines. Just when life insurers and retirement providers thought they had weathered the interest rate nightmare, the robo nightmare, and the fiduciary nightmare, along comes a triple-edged nightmare: crypto-currencies, blockchain and tontines. Just as global warming seems to bring stronger, more […]

    Sales of fee-based VAs and FIAs on rise in US: Cerulli

    {December 14th, 2017} by Editorial Staff

    New research from Cerulli Associates, a global research and consulting firm, discusses how the Department of Labor (DOL) Conflict of Interest Rule has slowed development along the variable annuity (VA) product pipeline. However, many insurers were being proactive in 2016 as approximately 25 of the new product filings were I-share VAs (i.e., fee-based VAs). “A […]

    IRI Warns Conflict of Interest Reforms Could Discourage Annuity Use

    {December 14th, 2017} by John Manganaro

    In an open comment letter submitted to the Securities and Exchange Commission (SEC), the Insured Retirement Institute (IRI) stresses the need for any investment industry conflict of interest reforms to be well-coordinated among regulators—and to keep in mind the crucial differences that exist between annuities and equity investments. For context, in June of this year […]

    Genworth Merger Gets New Extension

    {December 14th, 2017} by News & Advance

    RICHMOND – The deadline for a Chinese company’s proposed acquisition of Henrico County-based Genworth Financial Inc. has been extended yet again – this time to April 1 as the companies continue to seek regulatory clearance for the deal. Genworth, a seller of mortgage and long-term care insurance, announced late Wednesday it has reached an agreement […]

    A Walk Through the Insurance Technology Landscape

    {December 13th, 2017} by Cyril Tuohy

    With insurance technologies seeping into agents’ lives, it’s worth taking a closer look at some of the cutting-edge ideas floating about the life and annuity world. Low interest rates have made life difficult for insurers as low investment portfolio yields mean thinner profit margins, and thinner profit margins mean insurers need to operate more efficiently. […]

    Life Insurance – The Bonus Plan for the Executive Who Has Everything

    {December 13th, 2017} by Jason Wellman

    Small business owners have a number of challenges to manage within the normal course of running a company. These challenges include everything from the big-picture details such as making sure the company is profitable and that the lights stay on, to the more routine (but no less important) tasks such as customer service and employee […]

    Kentucky National Insurance Group Acquires Mountain Life Insurance Company

    {December 13th, 2017} by Kentucky National Insurance Group, LLC

    LEXINGTON, Ky., Dec. 6, 2017 /PRNewswire/ — Kentucky National Insurance Group, LLC (parent company of Kentucky Home Life Insurance Company), a Kentucky domiciled insurance company with administrative offices located in Lexington, Kentucky has announced its acquisition of 100% of the common stock of Mountain Life Insurance Company of Alcoa, Tennessee. Under the terms of the agreement, which will take effect January 1, 2018 pending state regulatory […]

    Allianz Life Employees Give Back to Five Local Charities for the Holidays

    {December 13th, 2017} by Allianz

    MINNEAPOLIS–(BUSINESS WIRE)–As part of the annual Spirit of Giving campaign at Allianz Life Insurance Company of North America (Allianz Life®), employees banded together to help make a difference for thousands of people in the Twin Cities during this holiday season. Allianz Life employees donated more than $116,000; 45,000 pounds of food and clothing; 3,800 new […]

    FINRA may make it harder for brokers to erase past indiscretions

    {December 13th, 2017} by Ann Marsh

    Brokers may no longer be able to wipe years’ worth of disciplinary marks off their public BrokerCheck records, thanks to changes proposed by FINRA. The regulator in December released proposed amendments to its controversial expungement process and requested industry comments by February 5, 2018. The proposed changes include a provision that would give brokers just one year to request […]

    Pacific Life Ranked #1 in Overall Indexed Universal Life Sales for Third Quarter 2017

    {December 13th, 2017} by Pacific Life Insurance Company

    ALISO VIEJO, Calif.–(BUSINESS WIRE)–Pacific Life Insurance Company today announced it was the top-ranked indexed universal life insurance performer for the third quarter, led by its top-selling indexed universal life (IUL)1 product, Pacific Discovery Xelerator. According to Wink’s Sales & Market Report for the third quarter 2017, Pacific Life came out on top of 102 indexed and fixed universal […]